Spiked Camel Kava Java ‘Continued’ !

[DinarThug]

Parliament: September 3rd is the beginning of the second legislative year

 

Tuesday 06 August 2019

 

Baghdad / Muhannad Abdul Wahab

 

 

The Council of Representatives, on Monday, the third of September next date for the start of the second legislative year, pointing out that the first legislative year saw a vote on 20 laws and the end of the second reading of 15 laws.

"The second legislative year of the House of Representatives will begin on the third of September," said Shaker Hamid, a spokesman for the House of Representatives.

He added, "The number of laws received from the government reached 83 laws," noting that "the first legislative year saw a vote on 20 laws, and the completion of the first reading of 34, and the end of the second reading of 15 laws."

He explained that "the number of written parliamentary questions in the first legislative chapter was 51, of which 43 were answered, while the number of verbal questions 14 questions were all answered."  

link

[Synopsis]

8 hours ago, DinarThug said:

The Council of Representatives, on Monday, the third of September next date for the start of the second legislative year, pointing out that the first legislative year saw a vote on 20 laws and the end of the second reading of 15 laws.

 

 You The MAN AND Thank You For THEE "Spiked" Camel Java!!!, DinarThug, AND The Very Best Of The Rest Of Your Week AND Up Coming Weekend To You!!! 

 

Islamic New Year 2019 in United States will begin in the evening of

Friday, August 30

and ends in the evening of

Saturday, August 31

Dates may vary.

 

Monday, September 2

Labor Day 2019 in United States

 

Three (3) day weekend IN The United States Of America???!!!

 

PUSH THE RV BUTTON, THEE NOMINAL Dos Equis Daze (XX days) ARE OVER ON Thursday, August 29, 2019 (from May 22, 2019) AND WE WANT TO CELEBRATE!!!

 

YYYEEEAAAHHH BBBAAABBBYYY!!!!!!!!!!!!!!!!!!!!!

 

Hey, WHAT, pray tell, ARE THEE Bicraqi Iraqi Parliamentarians going to ACTUALLY HAVE to DO ON Tuesday, September 3, 2019 ON THEE FIRST WORK DAY OF THE NEW YEAR IF THE RV BUTTON IS NOT PUSHED???!!!

 

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

   

[DinarThug]

LINK

The Central Bank's strategic measures have increased confidence in the banking sector

 

7th August, 2019 by Samir al-Nasiri 

 

The Central Bank of Iraq issued a statement in which he confirmed the rise of total assets of the government and private banking sector to 120 trillion dinars 100 billion dollars in 2018 compared to 2017 and clearly indicates that this was achieved because of the strategic measures adopted by the Central Bank as part of its plan to restore confidence in the banking sector

In another statement, the bank stressed its keenness that commercial banks are committed in accordance with the Banking Law and its bylaws to the banking standards, controls and regulations in maintaining financial stability and not tolerating potential damages due to government decisions to support the private sector to reduce interest rates for contractors and investors whose payments were delayed by the government

The Orbiter and the Controller like banking and through the analysis of business results of banks for the years 2017 and 2018 and the first half of 2019 notes clearly the main role of the central bank executive, supervisory and regulatory procedures on the banking market in Iraq, according to the target in its strategy for the years 2016 - 2020

Total assets increased by 10% and total deposits to 14% in 2018 compared to 2017.  This is a sure criterion for the success of banks according to the Central Bank's plans to increase confidence in dealing with banks in addition to increasing the ratio of financial inclusion to more than 23% in light of international reports

This means that the financial position of the Iraqi banking sector is heading in the right direction towards the sobriety and transparency that he called for and worked to implement since July 2017 by the message of the Governor of the Central Bank addressed to banks We hope to achieve 100% in 2020

What confirms the correctness of the procedures of the Central Bank is to increase foreign cash reserves to $ 72 billion as of 30/6/2019, an indicator confirms its success in maintaining foreign reserves despite the economic and financial challenges suffered by Iraq and do not forget here the active role and supportive and supportive The Central Bank of the National Economy and its contribution to the stability of the exchange rate and thus restore confidence in the Iraqi economy and international banking transactions and its commitment to international banking and accounting standards, especially with regard to combating money laundering and terrorist financing

[DinarThug]

The Gulf states will not accept Iraq unless they raise the standard of living of their citizens

 Wednesday, 07 August 2019

 

 

Baghdad - Writings

 

 

Between the refusal of the Gulf states to join Iraq in the Gulf Cooperation Council and the imposition of Iran's will on Baghdad not to join news reports monitored the reality of the relationship between Baghdad and the Gulf States and the validity of Tehran's influence on them.

Iraqi media quoted the leader of the decision-making coalition, Atheel al-Nujaifi, as saying that it was the Gulf countries that refused to join Iraq in the Gulf Cooperation Council under the best relations between Baghdad and the six Gulf states "Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain and Oman" in the eighties of the last century.

Nujaifi that the Gulf states felt that the standard of living in Iraq does not rise to the standard of living have not therefore open their doors to Iraqis fully, as well as that the level of mutual trust between Iraq and the Gulf countries is not the same available among them.

The leader of the decision-making coalition said that Iraq must improve the quality of life of its citizens and provide good education and good job opportunities if it is to integrate with the Gulf states.

According to media reports, citing what she described as an Iraqi diplomatic source, Iran's imposition of its authority and exerting its influence on Iraq so as not to merge with the Gulf Cooperation Council states is incorrect.

The statements came in response to what the Secretariat General of the Council of Ministers said on the progress made to unify the visions for the implementation of the terms of the memorandum of understanding between Iraq and the GCC

link

[ChuckFinley]

Thanks Thug, try to catch all your updates. 

[DinarThug]

Iraqi economy is sick .. Learn how to keep your savings from erosion!

 
Wednesday, 07 August 2019

 

 

Special: Translation - Aya Hussein Ali:

 

 

Iraq has been suffering for years from the inflation crisis, from the Kuwait War, until the Iraqi dinar reached its lowest level today, for every 1200 Iraqi dinars to about one dollar.

In addition to the costs of war and paralysis of administrations, during the years of the crisis, the authorities issued more money, which led to a huge inflation, a debt-ridden economy that will swallow 15% of this year's budget, while the budget has a deficit of 23 billion.

The data, "the Iraqi Ministry of Planning," for the month of July, the rise in monthly inflation rates by up to (0.4%), as the Iraqi economy remains at (B-); according to the index agency (Fitch) credit rating, a degree of risk with Expect a stable future given the rise in oil revenues, which account for 95% of income.

The seriousness of inflation on savings ..

Many people are afraid of the vagaries of time and changing circumstances, so they resort to saving overflows in the form of money, but this leads to a decline in the value of savings, sometimes up to half or more over time, as the intensification of inflation and global economic crises This leads to a decline in the value of official currencies in developing countries in particular, so this option is not suitable for the population of those countries.

The proof is that if you save an amount for a certain period and then need it, you will notice that its purchasing value varies greatly.

That's because inflation means that $ 100 today gives you the ability to buy half of what you were buying days or months ago.

Although economists disagree on what is meant by "inflation", what is agreed upon is that it means a continuous rise in prices at a rapid pace that the currency cannot keep up with, leading to a decline in its purchasing power.

Alternatives to savings ..

According to World Bank data for 2018, the savings rate in Iraq has reached 20% of GDP, which is good although it represents a slight decrease from 2017.

Offers you (writings); alternatives to savings that enable you to keep your money from erosion:

Never save your money in cash because you risk losing it, especially if you intend to keep it for a long time in an unstable economy. Never save your money in bank deposits, whatever offers are offered, because they do not preserve the value of the currency. Save your money in the form of precious metals, such as "gold," because it keeps the value of money and always price increases, as well as the possibility of using it for decoration. If the amount you want to save is large, you can invest it in buying or building real estate, and although many experts favor real estate as a way to preserve the value of the currency, but this solution is a serious drawback as it makes it difficult to liquidate funds, especially in a recession Plagued by many countries. You can turn to foreign currencies, the most famous "dollar" and "euro"; because they have more resilience and maintain stability, turn your savings from the currency of your country to the "dollar", and you will not need to keep your money inside the house as it is possible to open Dollar bank accounts.

link

[nannab]

Thanks Mr. Thug  

[DinarThug]

LINK

The Kurdistan Council of Ministers takes several decisions, including Article 140, taxes and salaries

 

 

7th August, 2019

 

The Council of Ministers of the Kurdistan Region, headed by Masroor Barzani, on Wednesday its regular session.

At the beginning of the meeting, the Council of Ministers referred to the decision of the Federal Supreme Court No. (71/2009) issued on 28/7/2019 to remain in force Article 140 of the Constitution. As a result, it was decided to form a committee of the Council of Ministers and in coordination with the General Authority for Kurdistan regions outside the administration of the region to follow up talks with Baghdad to find a mechanism in the implementation of Article 140 under the decision of the Federal Court.

The meeting also discussed the appropriate mechanism to implement the eighth paragraph of the reform section of the government program on reforming the tax system so as to ensure fairness in taxation and prevent tax evasion.

The Council of Ministers stressed the importance of taxes, and stressed the need for all individuals, entities and companies to pay their debts and taxes to the government.

It was emphasized that the unification of internal tax fees in legal and administrative terms in a manner that respects justice and takes into account the level of income when taxing.

The Cabinet also decided to revise the lists of the names of the disabled and those with special needs, and decided to re-pay the salaries of about 13 thousand beneficiaries of the disabled and people with special needs.

The Cabinet discussed a number of issues related to the Office of Foreign Relations, and a number of necessary measures were taken.

During the meeting, the Council of Ministers directed the ministries of interior, municipalities, tourism and related ministries to receive tourists properly and provide all necessary facilities for them during their visit to the Kurdistan region during the days of Eid al-Adha.

 

################

Kurdistan forms a committee to follow up the implementation of Article 140 of the Constitution with Baghdad  LINK

[DinarThug]

LINK

Kurdistan Council discusses Article 140 in today's meeting

 

 

7th August, 2019

 

 

The Council of Ministers of the Kurdistan Region, on Wednesday, its regular session to discuss several files, most notably Article 140 of the Iraqi Constitution.  A Kurdish government source said, "The Council of Ministers of the Kurdistan region is held today, its regular session, headed by its president, Masroor Barzani, to discuss several files."

The source added, "The session will include the draft government reforms and guidelines for the work program of the new government in the region."

He pointed out, "The meeting will also discuss the situation in Kirkuk and the application of Article 140 of the Constitution."

The Federal Supreme Court ruled on Tuesday (July 30, 2019) that Article 140 of the Constitution of the Republic of Iraq will remain in force, stressing that this will continue until its requirements are fulfilled and the objective of its legislation is fulfilled.

 

#########

After the decision of the Federal Court .. Council of Ministers of Kurdistan meets on Kirkuk and Article 140  LINK

[fancy]

15 minutes ago, DinarThug said:

Iraqi economy is sick .. Learn how to keep your savings from erosion!

 
Wednesday, 07 August 2019

 

 

Special: Translation - Aya Hussein Ali:

 

 

Iraq has been suffering for years from the inflation crisis, from the Kuwait War, until the Iraqi dinar reached its lowest level today, for every 1200 Iraqi dinars to about one dollar.

In addition to the costs of war and paralysis of administrations, during the years of the crisis, the authorities issued more money, which led to a huge inflation, a debt-ridden economy that will swallow 15% of this year's budget, while the budget has a deficit of 23 billion.

The data, "the Iraqi Ministry of Planning," for the month of July, the rise in monthly inflation rates by up to (0.4%), as the Iraqi economy remains at (B-); according to the index agency (Fitch) credit rating, a degree of risk with Expect a stable future given the rise in oil revenues, which account for 95% of income.

The seriousness of inflation on savings ..

Many people are afraid of the vagaries of time and changing circumstances, so they resort to saving overflows in the form of money, but this leads to a decline in the value of savings, sometimes up to half or more over time, as the intensification of inflation and global economic crises This leads to a decline in the value of official currencies in developing countries in particular, so this option is not suitable for the population of those countries.

The proof is that if you save an amount for a certain period and then need it, you will notice that its purchasing value varies greatly.

That's because inflation means that $ 100 today gives you the ability to buy half of what you were buying days or months ago.

Although economists disagree on what is meant by "inflation", what is agreed upon is that it means a continuous rise in prices at a rapid pace that the currency cannot keep up with, leading to a decline in its purchasing power.

Alternatives to savings ..

According to World Bank data for 2018, the savings rate in Iraq has reached 20% of GDP, which is good although it represents a slight decrease from 2017.

Offers you (writings); alternatives to savings that enable you to keep your money from erosion:

Never save your money in cash because you risk losing it, especially if you intend to keep it for a long time in an unstable economy. Never save your money in bank deposits, whatever offers are offered, because they do not preserve the value of the currency. Save your money in the form of precious metals, such as "gold," because it keeps the value of money and always price increases, as well as the possibility of using it for decoration. If the amount you want to save is large, you can invest it in buying or building real estate, and although many experts favor real estate as a way to preserve the value of the currency, but this solution is a serious drawback as it makes it difficult to liquidate funds, especially in a recession Plagued by many countries. You can turn to foreign currencies, the most famous "dollar" and "euro"; because they have more resilience and maintain stability, turn your savings from the currency of your country to the "dollar", and you will not need to keep your money inside the house as it is possible to open Dollar bank accounts.

link

There sure is a lot of currency news and changes lately, China, Iran, your next Iraq

[DinarThug]

32 minutes ago, ChuckFinley said:

Thanks Thug, try to catch all your updates. 

 

Well Hopefully U Can Catch Better Than U Can Throw !  

 

 

Just Don’t Send That Pitcher Guy Over Here Again ...

 

     

[DinarThug]

LINK

Iraq does not want to acquire the "S-400": We do not want to sabotage relations with America

 

 

8th August, 2019

 

Iraq does not need to acquire the Russian air defense systems "S-400", said a member of the Iraqi parliament, Sarkot Shamsuddin.

"We have enough military equipment now. I think we should invest in other things," Shamsuddin told Sputnik. He added: "S-400" systems are not needed now.

At the same time, the member of parliament acknowledged that Iraq may need in the future such defense systems, but expressed reservations about the acquisition that would damage relations with the United States.

According to the deputy, "Iraq should not destroy relations with Washington, being" committed to protecting Iraq from external and internal threats. " The head of the Russian Defense and Security Council Committee, Viktor Bondarev, has said that Syria, Iraq, Sudan and Egypt are among the potential countries to buy S-400 air defense missile systems.

For his part, the Russian ambassador in Baghdad, Maxim Maksimov, said that there are new requests for the purchase of Russian weapons will come from the Iraqi authorities. The list of applications is likely to include S-400 air defense missile systems.

 

#############

Kurdish deputy on the purchase of Russian S400: We must not destroy relations with Washington    LINK

[DinarThug]

LINK

Parliamentary energy reveals  about three drafts of the oil and gas law has not been discussed so far

 

 

8th August, 2019

 

 

Member of the Committee on Oil and Parliamentary Aram Naji revealed that the existence of three drafts of the oil and gas law has not been discussed so far.

Naji told Al-Ahd News on Thursday that "the committee did not address the discussion of the law of oil and gas, stressing the interest of the Committee on this subject and it will be a priority to legislate this law during the next phase."

He added that "the agreement is a major and fundamental reason in passing the political blocs of this law." 

[ChuckFinley]

Make it so.  

[ChuckFinley]

Thanks Thug, excellent news. 

[DinarThug]

Parliamentary Finance: Iraq reached the stage of "economic collapse" .. The real problem in the Central Bank

 

Politics 08.08.2019 21:50

Editor: mst     Baghdad Today _ Baghdad 

A member of the Finance Committee in Parliament, Faisal al-Issawi, on Thursday, that the country has reached the stage of economic collapse, while stressing that the real problem in the Central Bank of Iraq.

Faisal al-Issawi said, during the program " viewpoint " presented by Dr. Nabil Jassem on the channel "Tigris" and followed (Baghdad today), that "Iraq has reached the stage of economic collapse," noting that "the reality is greater than the International Monetary Report."

Al-Issawi added that "the country is now in a real political and economic dilemma," stressing that "the government's actions did nothing to resolve the crisis," noting that "salaries increased by about 6 trillion dinars this year from last year."

He continued, "The policy of indifference in the collection of resources and unexplained spending caused a lot of problems in the real structure of the economy," pointing out that "the high spending currently caused by oil licenses and debt, at the time of the Iraqi government is obliged to pay 20 trillion oil companies during the next year."

He stressed a member of the Finance Committee in parliament, "the real problem in the economy, is the Central Bank of Iraq," and called on Prime Minister Adel Abdul Mahdi to "pressure and amend the bank's policies to withstand the challenge of the problems of the country."

A member of the Parliamentary Economic Committee, Jassem Tahmir, warned on Tuesday (7 May 2019), Prime Minister Adel Abdul-Mahdi not to fall into what he called the "trap of the International Monetary Fund", by rejecting the recommendations imposed by the Fund and the adoption of a fiscal policy contrary to it.

Tahmir said, in an interview to (Baghdad today), "These recommendations imposed by the International Monetary Fund serve the interests of countries that dominate and control."

He added, "Iraq needs new economic and political financial reforms, but not conditioned by external institutions," stressing the need to "reform sagging career in the institutions of the Iraqi state, and support the private sector and provide appropriate conditions for investors."

He pointed out that "policies and structural austerity programs implemented by the Fund and recommended, often lead to a doubling of the number of poor people significantly and high unemployment."

The head of the IMF mission to Iraq, Gavin Gray, recommended last May, a number of major reforms that Iraq must follow to reform the financial structure.

"The first of these reforms is public-sector wages that can ease short-term spending pressures through compensation measures such as setting allowances, bonuses and other non-core wage payments, and not replacing retirees in full," Gray said.

"Structural measures will be required in the medium term, based on a functional review of the workforce and a deeper reform of the civil service once new human resource and information management systems are in place," he said.

Gray made a second recommendation on electricity reforms, which he considered "a key factor in addressing poor quality of service and reducing high budget costs, due to modest rates of consumer tariffs, chronic non-payment of electricity bills, poor maintenance, over-reliance on expensive generation sources, and losses." Throughout the generation and distribution process. "

link

[jg1]

Doh.😵ParliamentaryFinance: Iraq reached the stage of "economic collapse" 

[Joe Sutherland]

This is great news! 🙌

it's go time Iraq!!

YEHAW! 

OPEN THE GATE!!

[jg1]

On 8/7/2019 at 12:37 PM, DinarThug said:

Iraqi economy is sick .. Learn how to keep your savings from erosion!

 
Wednesday, 07 August 2019

 

 

Special: Translation - Aya Hussein Ali:

 

 

Iraq has been suffering for years from the inflation crisis, from the Kuwait War, until the Iraqi dinar reached its lowest level today, for every 1200 Iraqi dinars to about one dollar.

In addition to the costs of war and paralysis of administrations, during the years of the crisis, the authorities issued more money, which led to a huge inflation, a debt-ridden economy that will swallow 15% of this year's budget, while the budget has a deficit of 23 billion.

The data, "the Iraqi Ministry of Planning," for the month of July, the rise in monthly inflation rates by up to (0.4%), as the Iraqi economy remains at (B-); according to the index agency (Fitch) credit rating, a degree of risk with Expect a stable future given the rise in oil revenues, which account for 95% of income.

The seriousness of inflation on savings ..

Many people are afraid of the vagaries of time and changing circumstances, so they resort to saving overflows in the form of money, but this leads to a decline in the value of savings, sometimes up to half or more over time, as the intensification of inflation and global economic crises This leads to a decline in the value of official currencies in developing countries in particular, so this option is not suitable for the population of those countries.

The proof is that if you save an amount for a certain period and then need it, you will notice that its purchasing value varies greatly.

That's because inflation means that $ 100 today gives you the ability to buy half of what you were buying days or months ago.

Although economists disagree on what is meant by "inflation", what is agreed upon is that it means a continuous rise in prices at a rapid pace that the currency cannot keep up with, leading to a decline in its purchasing power.

Alternatives to savings ..

According to World Bank data for 2018, the savings rate in Iraq has reached 20% of GDP, which is good although it represents a slight decrease from 2017.

Offers you (writings); alternatives to savings that enable you to keep your money from erosion:

Never save your money in cash because you risk losing it, especially if you intend to keep it for a long time in an unstable economy. Never save your money in bank deposits, whatever offers are offered, because they do not preserve the value of the currency. Save your money in the form of precious metals, such as "gold," because it keeps the value of money and always price increases, as well as the possibility of using it for decoration. If the amount you want to save is large, you can invest it in buying or building real estate, and although many experts favor real estate as a way to preserve the value of the currency, but this solution is a serious drawback as it makes it difficult to liquidate funds, especially in a recession Plagued by many countries. You can turn to foreign currencies, the most famous "dollar" and "euro"; because they have more resilience and maintain stability, turn your savings from the currency of your country to the "dollar", and you will not need to keep your money inside the house as it is possible to open Dollar bank accounts.

link

Thanks thug,

Could you please provide a color decoder for what the different colors mean. 

Im thinking;

Pink - Hot 

Brown - flush it down

Orange - Title

Green - GO

That way I can go directly to the important stuff, thanks.

 

 

[Pitcher]

On 8/7/2019 at 3:12 PM, DinarThug said:

Just Don’t Send That Pitcher Guy Over Here Again

 

That Pitcher Guy is washed up, can only hit the mascot these days.

 

 

But don’t charge the mound, the punches can still hit the target!!!  

 

[DinarThug]

LINK

Parliamentary Finance: Appointment of an inspector of the Central Bank in violation of its independence and violation of its law

 

 

9th August, 2019

The parliamentary Finance Committee, on Friday, surprised by the great appointment of an inspector of the Central Bank of Iraq, usually violated his independence and exceeded the law. 

The Chairman of the Committee MP Haitham al-Jubouri, in a statement received, a copy of it, that "the Finance Committee shows great surprise at the deliberate Iraqi government breach of the independence of the Central Bank and insist on interfering in its policy and management, in violation of the text of Article 2 of the Central Bank Law, which Not to allow the intervention of any person or the government work or monetary policy and subject to the control of the House of Representatives only.  He reminded the government that "this position was formerly in the Central Bank and was canceled in 2008 for inconsistent with the law of the bank in force." 

Al-Jubouri called for an immediate halt to this step, warning of its external repercussions and its negative repercussions on international agreements and evaluations. A document issued by the Presidency of the Government, recently, showed a court order to establish the offices of general inspectors in the Central Bank of Iraq, the Investment Commission, the Electoral Commission, the Human Rights Commission, the Iraqi Trade Bank, the Popular Mobilization Authority and the National Security Agency.

 

#############

 

LINK

Parliamentary Finance: Appointment of an inspector of the Central Bank in violation of its independence and violation of its law

 

9th August, 2019

 

The parliamentary Finance Committee, on Friday, surprised the "great" of the appointment of an inspector of the Central Bank of Iraq, usually violated his independence and exceeded its law

The Chairman of the Committee MP Haitham al-Jubouri, in a statement received by "Economy News" a copy of it, that the Finance Committee shows great surprise at the deliberate Iraqi government breach of the independence of the Central Bank and insist on interfering in its policy and management, in violation of the text of Article 2 of the Central Bank Law, which stipulated Not to allow any person or government to interfere with the work of the bank or its monetary policy and subject it to the control of the House of Representatives only

He added: We remind the government that this position was previously in the Central Bank and was canceled in 2008 because of its conflict with the law of the bank in force

He called for the immediate cessation of this step, warning of its external repercussions and its negative repercussions on international agreements and assessments

[DinarThug]

LINK

Point a system on a diwani order

 

9th August, 2019 by Samir al-Nasiri

 

Recently issued a decree to appoint a general inspector in the Central Bank of Iraq and a review and reading of the Central Bank Law No. 56 of 2004 in Article 2 (legal status and independence) and paragraph 2 of it clearly stipulates that (the Central Bank enjoys independence in its endeavors in order to achieve its objectives and implementation The Central Bank shall not receive any instructions from any person or entity, including government agencies, except as otherwise provided in this Law. 

In addition, the Central Bank is subject to the control and questions of the Iraqi Council of Representatives in all its activities and accounts are subject to the Office of Financial Supervision and an international audit company. 

It should be noted that banks in all countries of the world are sovereign and independent institutions operating in accordance with their laws to achieve specific and clear objectives involving all banks, which is clearly referred to in Law 56 of 2004.

I believe that the issuer of the Diwani order should consult with legal and financial advisors before appointing a general inspector at the Central Bank, as this may be considered as an interference with the independence of the bank and its functions and gives a negative indication to the international banking and financial institutions, which the bank has exerted great efforts in restoring its bilateral financial and banking transactions with it. 

As a citizen, I am a constitutional right in a democratic system that guarantees me to discuss government decisions with general effect. I record a point of order on the Diwaniyyah order, stressing the independence of the Central Bank, which is contained in more than one article of the law in force that regulates the functions and duties of the Central Bank.  I call on the Prime Minister to reconsider the Diwani order as far as the Central Bank is concerned and does not affect our national economy and the independence of monetary policy and privacy.

[DinarThug]

LINK

Parliamentary Economy: Counterfeit bills for currency smuggling are conducted legally and "cover" by the government

 

8th August, 2019

 

The Committee on Economy and Investment Parliamentary, on Thursday, the method of smuggling currency outside the country, while stressing that the method is legal with the knowledge of the government.

A member of the Committee, Riad al-Tamimi, in an interview with (Baghdad today) that "the process of currency smuggling began through the sale of currency through fraudulent invoices, especially since the private banks that take money from the auction sale of currency, is given the right and authority to import, and this matter Illegal imports are allowed."

Al-Tamimi stressed that "import is the goal of money laundering and smuggling money outside Iraq," noting that "the disaster lies in the fact that this process is legitimate according to law, so as to escape from the money laundering department." He continued a member of the Committee on Economy and Investment Parliament, that "there are several ways to process money laundering and smuggling, and the Iraqi government is aware of them, which is enacted by laws that protect smugglers."

The MP, a member of the parliamentary committee on the follow-up to the implementation of the budget Abdel Hadi Saadawi, has said the obelisk that the auction of currency outside the control of the central bank, pointing out that the bank sells 150-200 million dollars on a daily basis. Saadawi's statement raises the file of corruption in the currency auction again, which governments did not succeed in resolving it completely.

Al-Saadawi said in a press statement that "there are problems and irregularities recorded on the sale of currency by the Central Bank as well as the exchange rate, which is often mobile and often fixed," pointing out that "any candidate for the position of the governor to sit with the parliamentary finance to discuss These two things."

Deputies from various blocs and components often talk about the existence of large-scale corruption in the currency auction by banks and personalities accused of money laundering.

Something from the history of the problem

The "Obelisk" has published in 2018 a document indicating an explicit violation and corruption in foreign currency sales of the Central Bank of Iraq in the auction of foreign currency sale in 2015 under a letter issued by the President of the Finance Committee in the House of Representatives, then, Chalabi, addressing the President of the Federal Court Calling on the judiciary to take the necessary measures and stressing that the Iraqi people, waiting for the word of the judiciary to maintain Iraq's reserves of hard currency.

According to the book that the table analysis of foreign currency sales of the Central Bank of Iraq at the auction sale of foreign currency for the day 31/5/2015, which amounted to "393,104,332" dollars, is an explicit violation of Article "50" of the Federal Budget Law of the State in 2015, which specified sales of the Central Bank Iraqi with seventy-five million dollars a day and sales for this day only amounted to five times the estimated amount specified by law.

According to the book, the government has filed a lawsuit against the Iraqi Council of Representatives on a number of paragraphs of the federal federal budget law for the year 2015, including the paragraph we referred to above.  The government has frozen the implementation of these paragraphs without right pending the decision of the court, although the law is in force and duty to implement.

Efforts have been made to uncover the smuggling of billions of dollars out of the country through mostly illusory financial companies and new money-changers who drained these billions from the state treasury and the people's livelihood, as well as issues related to so-called "reluctant projects", projects that have been spent billions and hundreds of millions of dollars.

He succeeded the late Iraqi Chalabi in the collection of hundreds of documents prepared by a report to the Commission and others, including the Presidency of the Council of Representatives and the Prime Minister, and published "Obelisk" in time, details about them.

Chalabi blamed the fallout of the country's financial structure on "market" gangs that controlled the market price and said the economic collapse was caused by the loss of about $ 312 billion between 2006 and 2014.

The issue of corruption in the currency auction continues to mislead the economic and political scene as well because the banks that acquire the auction are linked to political parties through which they finance their parties and return them to financial profit at the expense of the country's economy.

[DinarThug]

LINK

In the table .. Central Bank governor advances in the classification of an international magazine

 

9th August, 2019

The Central Bank of Iraq (CBI) Governor Ali al-Alak's rating from B to B is presented in Global Finance magazine for 2019.

 

 

 

###################

 

LINK

In the table .. Central Bank advances in the classification of an international magazine

9th August, 2019

Presents the classification of the Governor of the Central Bank of Iraq, from B to B + in the magazine Global Finance for the year 2019. 

 

Edited August 9, 2019 by DinarThug

[DinarThug]

Dismantling the "puzzle" of the region's budget: Abdul Mahdi and Fouad Hussein, "Brean" .. But!

 

Politics  ,   2019/08/09 15:14  

 

 

Iraq Today

Although he spoke about an hour ago, Finance Minister Fouad Hussein did not say much about the federal payments file for the Kurdistan region. In a way, what he said throughout his last dialogue can be summed up in one sentence, repeated by Prime Minister Adel Abdul Mahdi: “We are applying Budget Law. ” Although the government's position with its minister, Fouad Hussein, seems safer than the position of parliament, but the "NAS" conducted a brief discussion, in an attempt to dismantle the debate on the budget of the region renewed every year !, to reveal the resulting figures from the calculations .. The existence of additional amounts does not seem It is clear why they were added to the federal payments package to the region The calm that the minister appeared in an interview with the program of the last scene, and accepted by its president Abdel Mahdi, is not related to the heat of the file, nor is it in any way similar to the “media revolutions” conducted by deputies with statements and statements that used the most vocabulary in describing what is going on, as a process of treason. , Disaster, farce ..

Parliament Finance Committee answers

The parliamentary Finance Committee responded to Nassif's statement with a lengthy statement, which can be summarized that “Darbaka” has already taken place, among several drafts of the budget law. Nassif ”was talking about an old draft, which did not follow the amendments made by the Finance Committee before the vote.

Is there a bug? Where exactly ?!

In accordance with the provisions of Article 10 (c) of the Budget Law, the Federal Government is obliged to pay the dues of the Kurdistan Region, including compensation for the employees of the Region, and shall deduct the amount of the damage from the share of the region in the event of non-delivery of the quota of oil in Article A (250 thousand barrels), In its current form, it guarantees the continued payment of the region's dues, and keeps it the option to pay the value of 250 thousand barrels per day to Baghdad, and to receive the price, or to refrain if he wants, and receive the rest of his budget, contrary to the formulas demanded by lawmakers stating that “Baghdad receives a budget Provincial, provided the region delivered the value of 250 thousand barrels per day. ” This means that the ball in this aspect, already in the court of Parliament, so MPs may be warned early, that their objections are not related primarily to government measures, but the text of the budget law passed by the deputies themselves, such as MP from the Bloc Sadikon, Naim Abboudi, who vowed to collect Signatures to amend the Budget Law.

“Abadi Act”

In other words, what the MPs are demanding is to deal with the Kurdistan region, in the way that former Prime Minister Haider al-Abadi spent, when he stopped transferring any of the region's dues, as long as the latter does not hand over its oil revenues to the Federal Ministry of Oil. However, the previous method caused a political crisis between Baghdad and Erbil on the one hand, and the government of Abadi returned to the region to receive the value of its budget (minus the value of 250 thousand barrels) starting in April 2018, after agreeing to send federal committees to audit staff records The current text of the budget law does not allow such action. Finance Minister Fouad Hussein commented on this period by saying: 'Abadi did not pay anything, and when he decided to pay the amounts after March 2018, he did so without a legal basis.'

Current payments

According to Prime Minister Fuad Hussein, “the total share of the Kurdistan Region (investment, current, ruling, peshmerga salaries) is 11 trillion, two hundred and fifty billion dinars, per year. What the Ministry of Finance pays for the region as salaries, the total will not exceed - at the end of the year - 5 trillion dinars, (according to a document from the Ministry of Finance, the July payments amounted to about $ 383 million, or $ 4 billion and 600 million annually), This means that there are 6 trillion dinars already deducted, because the region did not pay the value of 250 thousand barrels of oil per day to Federal Ministry of Oil. ”

The fate of more than 100 million dollars a month ?!

It is not possible to verify exactly, all the figures in relation to the thorny budget issue of the region, the figures are not fully publicized, and the issue is almost the most ambiguous among the Iraqi files, but a comparison of payments Abadi government to the region, which amounted to according to a government spokesman in Then Saad al-Hadithi (318 billion dinars - $ 269 million) monthly, and between the payments of the Ministry of Finance in the government of Abdul Mahdi for the month of July (453 billion dinars - 383 million dollars) monthly, reveals an increase of more than 100 million dollars a month, can not decide its fate, or Find out the reasons for the increase, even after contact with several government agencies, from b The Prime Minister's Office, which only said that the figures provided by "NAS" is incorrect, and that the exact answers to the Ministry of Finance, although the ministry and the words of the Minister and its official book, announced those figures.

“Share not salaries”

The use of the term “salaries of employees” is included in the description of the amounts sent by the Ministry of Finance to the Kurdistan Regional Government, and says Prime Minister Abdul Mahdi, it is not acceptable to manipulate the staff of the region, but the current payments, according to lawmakers, have nothing to do with salaries, but is the product of (250 thousand barrels of the share of the budget of the Kurdistan Region), and deputies who spoke to "NAS" that the term "salaries" on payments, "gives it a legitimate and sometimes human dimension, but it is not accurate description, the federal government pays salaries, when it has a rule Complete data, and the State Audit Bureau is permitted Well to the region and check its cadres, find out the real numbers, "a task that has been initiated by the government of the time of al-Abadi, did not lead to anything.

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