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Religious Reference To Trump: The Iraqi government is transferring Hard Currencies To Iran ... We Ask You To Protect Our Money !


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A committee in the Iraqi parliament examines the obstacles to electronic payment
 
A committee in the Iraqi parliament examines the obstacles to electronic payment

Side of a previous session of the Iraqi Parliament - Archive
 

 January 20, 2020 1:50 PM
 

Direct: The Communications and Information Committee of the Iraqi Parliament, in a meeting chaired by Representative Naim Al-Aboudi, discussed developments of electronic payment, its obstacles and the amounts of the aid received without referring to the Bayou metric information.

The meeting discussed, according to a statement from the Council, today, Monday, the proposals, solutions and additions by experts and consultants in the Ministry of Communications and the National Retirement Authority.

The meeting also discussed ways to start towards the digital economy and information technology to reduce corruption that leads to waste of public money.

The government’s reform program, according to the statement, aims to reduce routine and save time, benefiting the citizen and public money.

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Prof. Haider Wahab Al-Anzi *: Legal Spotlights on the Central Bank's Independence from the Executive Authority - A Comparative Analytical Study

 

01/19/2020


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The issue of the independence of the central bank from the executive authority conflicts in two opposing directions. The first sees that the independence of the central bank is merely a myth, an illusion or an idea that is not applicable for several reasons, foremost of which is that the monetary authority has not yet reached the amount of the independent public authority, just as it is like other public legislative and executive authorities. Judicial and the monetary policy that the central bank is concerned with formulating and implementing is part of the general policy in the state and therefore the central bank must return to the executive and legislative branches and be associated with them and is in the process of drawing monetary policy and implementing it either. I saw that the independence and the necessary condition necessary for the success of the work of the Central Bank and other than that the bank is subject to the domination of the government and this is what causes financial risks standing in the forefront of falling into the inflationary crises.

But if independence is necessary, all its elements must be available, namely financial independence, administrative independence and technical independence. If the constitution of the Republic of Iraq in force for the year 2005 stipulated that the central bank is an independent public body that is responsible for questioning it and interrogating its employees, the constitutional treatment of the issue of independence was not a treatment. Integrated, where several deficiencies were marred, and the researcher took the spotlight to highlight the constitutional and legislative deficiencies with proposing the necessary and appropriate solutions to enhance the independence of the central bank from the executive authority in a manner that guarantees the aforementioned bank’s full performance of its tasks.


To download the study as a PDF, click on the following link

Legal highlights on the independence of the Central Bank from the executive branch

(*) Professor of Public Finance and Financial Law, Faculty of Law, Al-Mustansiriya University

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The Iraqi Advisory Council has proposed a set of solutions to avoid the consequences of possible US sanctions in the event of a withdrawal from Iraq.


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21st January, 2020


In a study prepared in this regard, the Council called for the need to diversify sources of income to reduce dependence on oil sales, to pay attention to non-oil sectors such as industry, agriculture and tourism, to transfer certain percentages of dollar storage with the Central Bank to other difficult currencies, and to open channels of dealing with large European banks and their approval As intermediary banks for money transfers and opening government bonds.

The study indicated that the repercussions of imposing direct or secondary sanctions on Iraq will lead to the collapse of the Iraqi dinar, which will result in an unprecedented rise in the prices of goods and commodities and the depreciation of the value of savings, along with high levels of poverty, widespread unemployment and difficulty in providing liquidity, and the government's inability to pay its debts and employee salaries and refrain International financial institutions have ceased to deal with the Central Bank of Iraq and Iraqi banks, the cessation of American military and financial support, the collapse of the investment sector, and the withdrawal of oil companies.

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turn the corner

 

Tuesday, January 21, 2020 

 

Yasser Al-Metwally 
 
 

The change in the Iraqi dinar exchange rate in light of the conditions in the country, we expected with the beginning of the crisis in October of the previous year in a previous article entitled (the exchange rate is stable) and we wondered how long it will hold?

 
We pointed out that the continuation of the situation may cause fluctuations in the exchange rate, and we cited the Lebanese experience at the time, how the exchange rate of the Lebanese pound deteriorated despite its stability over two decades and we called for hedging and caution And be careful.
 
We have emphasized that a successful monetary policy is able to maintain the stability of the exchange rate while supporting and assigning banks and exchange offices, and with national motives they all contributed to the stability price.
 
Yes .. it is true that what we expected in the occurrence of fluctuation happened, but until the moment the change in the exchange rate is still receding in the borders of the tigers or tigers and this result is very natural compared to the size of the crisis represented by the international and regional conflict.
 
Contrary to what many analysts said in their expectations of a major change, they will get the exchange rate based on their reading of the speed of events and the size  Its effect.
 
Remarkably, the results of this crisis, despite the size of the risks and challenges that accompanied it, the effects were less than expected. A really confusing equation.
 
What is the reason for your estimate of my reading of this phenomenon as a follower of the economic issue that implies that the national and responsible position of our merchants and our market owners not to take advantage of the circumstances and raise the prices had helped to mitigate the effects of the shock, this is mainly, and that the citizens held together and did not rush to the markets to store food, so I maintained The market depends on the smoothness of goods and stability the prices.
 
Then it is necessary not to underestimate the role of sound monetary policy, which was quick to address the crisis by announcing the pumping of currencies to maintain the price in an attempt to curb the expected volatility, as well as the commitment of banks to support these measures, as well as the role of banking offices not to speculate and exploit the circumstance, and this is calculated for them and their patriotism. High. 
 
This cohesion and cooperation between citizens, merchants and monetary and banking institutions has led to overcoming the crisis. Will we proceed with such a correct and correct approach? 
 
Yes. We all hope and trust that the future foreshadows goodness.

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On 1/18/2020 at 10:10 AM, DinarThug said:

Karbouli: The currency auction was stolen in broad daylight

 

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Translation....

 

What @ jamalalkarboli all joints of the country riddled with corruption and the top of the pyramid is where the auction sells hard currency. Counterfeiting and collusion operations in it have the sole purpose of stealing the dollar from the central  treasury with forged import licenses and volatile instruments and transferring them abroad for the benefit of influential people involved in silent corruption issues.  Their names are diagnosed by the Integrity and Judicial Authority, but their files are not opened by anyone. The Iraqi economy remains the biggest loser. # Auction _ currency _ theft _ it is _ daylight  18 - 1 - 2020

 

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A parliamentary source reveals to Al-Akhbaria the cause of the verbal disputes in the parliament's consultative session

 

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22nd January, 2020
 
 

A parliamentary source revealed, today, Wednesday, the reasons for the verbal disputes, among members of the House of Representatives, in the parliament's consultative session.


The source told "Al-Ikhbaria", that "the intervention of a member of the House of Representatives, Ziyad al-Janabi, was loud about corruption within ministries and government institutions."

He added, the source, who preferred not to be named, that "Al-Janabi confirmed Noh that corruption included the recent appointments, in addition to the corruption of the Central Bank of Iraq, especially in the auction of selling the currency."

The head of the solution party, Jamal Karbouli, confirmed, earlier on Saturday (January 18, 2019), that the state joints are riddled with corruption and headed the pyramid in which the currency sale auction, while noting that the auction was stolen in broad daylight.

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Made in Iraq ... a broad national campaign to support the local product


Tuesday, January 21, 2020


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Baghdad / Bashir Khazaal 

 

Most laboratories in the private and public sector seek to advance the national industry to move the economy and compete with foreign goods and commodities that have permitted the Iraqi markets, for various conditions and reasons, industrialists and businessmen who supported national production and remove obstacles and problems that can slow the wheel of rehabilitation of factories and factories and the operation of new factories, including It brings economic benefits, in various fields, which revive the economic situation and give a kind of social stability to the life of the Iraqi citizen. 

Support 
Encouraging and supporting the local industry, despite some different obstacles and problems, can broaden the national production base in general and limit the permissibility of foreign goods to Iraqi markets. 

Labs
The owners of workshops and laboratories welcomed the support of the local product through the campaign adopted by the Iraqi media network, and invited other other government institutions to contribute to a specific type of support that falls within its competence, says Ali Hassan Al-Saray (56) years, the owner of a factory for the production of plastic utensils: The national product contributes to the recovery of the national industry and reduces unemployment. Imported goods have closed hundreds of factories since 2003 until now. 

Cooperative 
Alaa Abdul-Hadi (48 years) owner of an aluminum production plant confirmed the success of most Iraqi factories and workshops in filling the need of the local market to provide them with administrative and technical support through the cooperation of government institutions and facilitate the task of private sector laboratories in obtaining raw materials and fuels and providing banking facilities, until they turn To productive and profitable factories that pay their financial obligations comfortably and with good production quality that satisfies the consumer. 

Rehabilitation 
His company started offering its products with three types of rubber granules or rubber chopped and rubber tiles, all kinds of rubber for sale in the company’s exhibitions in Diwaniyah and Al-Najaf governorates. It will contribute to the disposal of damaged tires in all governorates and benefit from them by recycling them and converting them into various rubber products of interest and without Yeh waste, especially that there are more than 10 million under the intervention to Iraq each year, and said Khudair that the project is the first of its kind in terms of high production capacity, modern and technologically advanced Mkainh used in it.

Legislative support
Associate Director General of the Technical Department of the Pharmaceutical Industry Department of the Ministry of Industry, Senior Chief Engineer Rafid Abdul Jalil Jabbar stressed the necessity of the presence of a single window for the import of materials with dual use, whether it is a chemical or no substance, whether it is a chemical that is important or that no chemical After the Ministry of Industry apologized for covering the request, calling on the rest of the ministries to give their needs to the Ministry of Planning and to circulate the latter at the beginning of each year, their needs are not only for the drug, but rather for medical supplies, as it is no less important N drugs
والعلاجات.
Jabbar drew attention to the fact that the production of the drug did not cover more than 25 percent of the local need, and we hope that at the end of the year 2020 we will cover 50 percent of the market need despite the presence of many obstacles, especially after the inclusion of the drugs. Comparing the price of referrals between the prices of medicines for the company of Samarra and the prices that the ministry buys from abroad, we find that the prices of the drug from abroad are twice that of the medicines of Samarra. Jabbar added: The necessity of separating the legislations began to appear, as it must be given according to the privacy of the work of each company, explaining that the Ministry of Health does not buy all of the product from the Iraqi medicine, but it is necessary to obligate it according to the implementation of existing legislation, but the work is still lingering in it.

compete
Director General of the General Company for Iraqi Cement Engineer Hussein Mohsen al-Khafaji, announced the operation of the four laboratory furnaces system burning furnaces with gas, instead of black oil after the efforts made by the cadres of the laboratory technical and engineering cooperation with the pipeline company's oil depot in Najaf Ashraf Gas Division of Najaf. 
And Al-Khafaji explained that working in the gas system would reduce the cost of production, as the consumption of black oil was 30 percent of the cost per unit production, while it would be less than 15 percent per unit. He emphasized that "the gas burning system is economically feasible and saves half the cost of black oil, and that its effect will be direct in production. 
In terms of abbreviating the process that is affected by the emission of sulfates in the burning system with black oil, as for dry gas, it is a friend of the environment and clean energy and will contribute to improving the quality of the product according to the specifications of the quality assurance that is approved within the global specifications of the company’s black oil, 2020 to overcome many obstacles and find solutions and alternatives to reduce production costs and achieve profitability befitting the company’s ancient name level and the level of workers ’efforts, accumulated experience and the abundance and quality of its materials
Primary.

Plans and support
The head of the Baghdad Investment Authority, Engineer Shaker Al-Zameli, said: The Authority has prepared, within the industrial projects development programs set up in the capital, plans to support national products and develop them in order to reach them to the level of sufficiency to meet the need of the local market and dispense with the imported goods that have become large recently. . 
He noted that the Commission tended to urge local industrialists to carry out their projects varied in the capital, noting that among these projects project investment production lines in the light industry company, which was again rehabilitated and developed to see the light again commercial Baalamth characteristic (Ishtar) after his absence from commercial markets For many years. And Al-Zamili indicated that the project is characterized as one of the most important industrial investment projects and is characterized by the quality of its manufacture of electrical appliances and sobriety, pointing out that the project provides freezers, refrigerators and mannequins of different types, sizes and shapes, along with solar heaters and heated in several sizes and gas cookers of various
Its types.
He continued that the company that is based on the rehabilitation of the project has intentionally modernized its machinery and raised the ceiling of its products and diversified them, while it is preparing to reinforce it with new production lines, including the evaluation and cutting line for the plates of the doors of refrigerators and freezers to match them with the latest manufacturers and equip them with the same sources of manufacture with the same source of manufacturers. Consumer calls to encourage national products and re-put them on local markets. The head of the Baghdad Investment Authority disclosed that his department and its projects are keen to provide facilities to local investors because of the large role of the private sector in raising the level of local industries, as well as the prevalence of domestic products, as well as the prevalence of domestic products 
The other. 

Solution
Economic expert Dr. Faleh Al-Zubaidi explained that the national campaign implemented by various parties in order to support the national product will work to solve the problem of unemployment, if the laws were applied in a way that serves the country, confirming that operating the thousands of factories and factories that are facing the country will provide a solution Stopping or reducing the import of agricultural products through an abundance of local production and will reduce the exit of hard currency out of the country due to spending on importing agricultural products that can be died. Localized, what contributes to reducing the deficit in the annual budget of the country and compensating the imported product locally while imposing customs duties on the goods from which a similar local product is available.

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On 1/18/2020 at 9:57 AM, DinarThug said:

Religious reference to Trump: The Iraqi government is transferring hard currencies to Iran ... We ask you to protect our money

 


 

Report: Iraq allegedly helping Iran skirt US sanctions

 

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The documents from Al-Arabiya revealed that the Iraqi Central Bank has been pushing private banks in Iraq, whom have Iranian board members, to open credit accounts in US dollars.

 

By JERUSALEM POST STAFF   

 

JANUARY 24, 2020 17:02
 
 
 

Leaked documents have indicated that Iraq may be helping Iran defy US sanctions, according to a report released by the Saudi news outlet Al-Arabiya presented by the Middle East Media Research Institute (MEMRI).

 

The report noted that following the death of former IRGC Quds Force commander Qasem Soleimani earlier this month is a US strike, Iraq has become increasingly concerned with the United States placing sanctions on Baghdad.

The documents from Al-Arabiya revealed that the Iraqi Central Bank has been pushing private banks in Iraq to open credit accounts in US dollars for the purpose importing oil derivatives to meet local needs, including for gas, oil, gasoline, diesel, white oil, and liquid gas. The boards of these private enitities include individuals connected to Iran, such as businessman who have ties to the Islamic Republic.

 

"It shows that Iran has been exporting its oil derivatives to Iraq, at a price backed by the Central Bank of Iraq, and is profiting from the bank's daily auction of hard currency by employing middlemen to convert Iraqi dinars into dollars," the report notes, which further adds that the funds are later transferred out of Iraq via private exchange offices and banks.

 

Some of the banks involved in the violation of US sanctions include the Elaf Islamic Bank, Al-Bilad Islamic Bank and Iraqi Union Bank, some of whom have been sanctioned previously by Washington for having dealings with Iran and Hezbollah.

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2 hours ago, DinarThug said:

Report: Iraq allegedly helping Iran skirt US sanctions

 

Al-Arabiya: Leaked Documents Suggest Iraq Is Helping Iran Defy Sanctions

 

Introduction

 

Following the rise in U.S.-Iran tensions in the aftermath of the Soleimani assassination, the Iraqi parliament passed a decision calling on the government to expel U.S. forces from Iraq. The U.S. responded by suggesting that should the Iraqi government follow through, the U.S. would respond with economic sanctions. Since the passing of this decision, Iraqi media[1] has become increasingly focused on the possibility of U.S. sanctions against Iraq. In the meantime, the Dubai-based Saudi Al-Arabiya network reported that Tehran is exploiting the U.S. exemptions for Iraq in order to get around U.S. sanctions.

This report will examine some of these claims.

SOMO Headquarters in Baghdad (Source: Somooil.gov.iq)

 

Leaked Documents

On January 21, 2020, Al-Arabiya[2] said that it had obtained "leaked documents" from an Iraqi MP that contain evidence of fraud on part of the Iraqi State Organization for Marketing of Oil (SOMO). The documents appear to be letters of guarantee sent by the Iraqi Central Bank to several Iraqi private banks, asking them to open credit accounts in U.S. dollars for the purpose of importing oil derivatives to meet local needs such as gas, oil, gasoline, diesel, white oil, and liquid gas.

According to the report, the boards of these private banks includes Iranian businessmen and  individuals who have ties to Iran, which the report underlines as an indication that Tehran is benefiting from these contracts and defying U.S. sanctions.

"It shows that Iran has been exporting its oil derivatives to Iraq, at a price backed by the Central Bank of Iraq, and is profiting from the bank's daily auction of hard currency by employing middlemen to convert Iraqi dinars into dollars," the report says, adding that the funds are later transferred out of Iraq using private exchange offices and banks.

A page from a leaked document (Source: Al-Arabiya.net)

Iraqi Private Banks Involved

The report lists several Iraqi private banks involved in transferring these funds:

Regional Cooperation Bank

The official statement from the Central Bank of Iraq, confirms that the Regional Cooperation Bank is owned by Iraqi and Iranian businessmen.

The United Bank For Investment

The United Bank for Investment is owned by Fadel Al-Dabbas and Iraqi businessman Khamis Al-Khanjar, who was sanctioned by the U.S. Treasury Department for being linked to Iran-backed militias. It is worth noting that this bank was placed under the trusteeship of the Central Bank of Iraq in November 2018. Moreover, the Jordanian public prosecutor issued a memorandum to Interpol calling for the arrest of "Al-Dabbas," on May 28, 2018, for which the report does not provide a reason.

The same bank has on its board, a controversial banker named Hassan Nasser Jaafar Al-Lami, AKA Abu Rami, who owns 40% of the bank's shares. Al-Lami owns two additional private banks: Iraq Islamic Bank, and Trans-Iraq Bank, along with the Sama Baghdad Company for Currency Exchange. According to the report the latter was shut down by Jordanian authorities in 2016.

On January 14, 2020, the Lebanese Satellite Channel MTV aired an interview with an Iraqi woman who claims that she worked as an employee for the Central Bank of Iraq. The woman, referred to as a whistleblower, describes Al-Lami as "the financial Qassem Soleimani of Iraq." In her interview the woman claims that she has documents that prove Al-Lami is among the key officials in Iraq who facilitate the financing of Iran and Hizbullah with foreign currency, and that he entered Lebanon on December 6, 2019.[3]

Hassan Nasser Jaafar Al-Lami, AKA Abu Rami, (Source: Arabyia.net)

Elaf Islamic Bank

According to the report, Elaf Islamic Bank has dealings with the Iranian Export Development Bank and was subjected to U.S. sanctions in 2012. The report says that these sanctions were lifted under in 2013.

Al-Bilad Islamic Bank

The director of Al-Bilad Islamic Bank's board, Aras Habib Al-Faili, has been sanctioned by the U.S. Treasury Department for funding the Islamic Revolutionary Guard Corps (IRGC), and for transferring funds from Tehran to Hizbullah, the report says.

Iraqi Union Bank

Iraqi Union Bank is owned by the brothers Aqil and Ali Muftin, who according to the report have close ties with pro-Iran former Iraqi PM Nuri al-Maliki.  In 2016, the American Federal Reserve placed $200 million of the bank's funds on hold due to suspicion of corruption.

Lack Of Monitoring

The leaked documents further show "financial fines imposed on SOMO due to delays in loading and unloading oil tankers, along with other fines related to service contracts of crude oil."

The report suggests that the lack of a comprehensive monitoring system in Iraq makes it difficult for anyone to tell if there is a difference between the quantities of oil extracted, produced, exported, and what is consumed domestically.

"One of the foreign companies that were operating in Iraq previously confirmed that there is a huge difference that reaches up to 50% when transporting crude oil to tankers, which prompted it to withdraw from Iraq."

It should be noted that on June 20, 2019, "Eni," an Italian energy company, had refused a shipment of Iranian crude that was falsely labelled as Iraqi oil, in an attempt to evade U.S. sanctions.[4]

(Source: Al-Arabiya.net)

 

[1] Rudaw.net, January 18, 2020.

[2] Alarabiya.net, January 21, 2020.

[3] Mtv.com.lb, January 14, 2020.

[4] Argusmedia.com, June 21, 2019.

LINK

 

Edited by DinarThug
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Thanks D thug .... Maliki , once he got shabbs out of the cbi and out of the way & got the bank heist rolling for iran , who knows what was all taking place but what i remember or what was being reported years ago was the massive counterfeit dinar from iran being washed thru a couple of the state banks ( Rafidain and Rasheed ) that maliki set up for his brothers in Iran that were buying usd from the cbi with the fake iqd , imo iraq has always tried to circumvent any punishment placed on Iran its no wonder iraq has never got off the runway and still stuck in the muck cause its still happening today but in more / different areas to generate usd for iran and not their own citizens  ... some day some way this speculation will end .:bananacamel: 

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On 1/19/2020 at 12:57 AM, DinarThug said:

We urge you to put your hand on the central bank and other Iraqi banks, because the resigned Iraqi government intends to transfer Iraqi money from hard currencies such as the dollar and the euro to Iran under the pretext of protecting them, we ask you to protect our money.

 

That's the keyword. 

Stop the root cause. Currency auction.

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Here is something everyone on this website had better be aware of when it comes to your Bank Accounts and your Identity.  It appears Madam Wu and her Chinese Hackers tried to use my name to open up some nefarious phony accounts.  They didn’t get very far as I have layers of Security which were on it and stopped them from doing what they wanted to get done with my information.  I’ve been hacked before and it’s not fun.  Word to the wise.  Get your Security in order NOW!!  My bankers and friends I have in the Government say the hacking is getting more sophisticated and happening at a very high frequency.  I spent a good portion of my day changing passwords, closing accounts and becoming more lean when it comes to my digital fingerprint.  

 

They are going to get burned if they keep doing this activity in the US.  

 

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