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


DinarThug
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5 minutes ago, Pitcher said:

I’ve been hacked before and it’s not fun.
They are going to get burned if they keep doing this activity in the US.


Somebody Needs To Tell Bruce That Wearing A ‘Cup’ Won’t Protect Him From Hackers ! :o 

 

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:D  :D  :D 

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Possible US sanctions on Iraq

 

- 53 Minutes Ago
 

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Researcher Shatha Khalil *

 


After the Iraqi parliament voted on a decision obliging the government to work to end the presence of foreign forces in the country, as part of the repercussions of the killing of the Iranian Quds Force Commander Qassem Soleimani and the deputy head of the Iraqi Popular Mobilization Forces, Abu Mahdi Al-Muhandis, and passing the decision with the support of the powerful Shiite bloc close to Iran, Sunni and Kurdish MPs boycotted the voting session.
Although parliament’s decisions are not binding on the government, because it is a caretaker government, and analysts say that if the United States is really forced to leave Iraq, this will give Iran’s appetite for its influence not only on Iraq but the region.
US President Donald Trump said, "If they ask us to leave, if we do not do it in a very friendly way, we will impose on them (and Iraq intended) sanctions, unprecedented before," adding, "It will make Iranian sanctions seem a little easy."

"We have a very expensive air base," Trump said. "It cost billions of dollars to build it. We will not leave unless they pay us for it."
The sources indicate that these sanctions will be economic and can be used by the White House to try to isolate and punish any person, entity or government, including from imposing sanctions on American companies in the event they work with another Iraqi, and to prevent any person or entity from dealing with the economy and the financial sector In the United States it can represent a very severe punishment.
A collapsed economic situation: Despite the country's many and varied riches, such as mankind, for example, Iraq is one of the rich and rich countries with youth cards capable of building the greatest societies, but it did not find the opportunity and the land suitable for exploitation and investment, and the material wealth such as oil, gas, minerals, agriculture, and countless other resources, but it suffers because of management Failed to manage those riches.

Where Iraq is classified as the second largest oil producing country in OPEC, and oil constitutes more than 90% of the general budget of the Iraqi state, which is funded by the salaries of Iraqis, in addition to corruption in oil contracts that do not serve the national interest burdened by that particular budget held by Hussain Al-Shahristani. Responsible for the energy file during the era of former Prime Minister Nuri al-Maliki, foreign companies have a large part of the production returns and impose on Baghdad their expenses, in addition to giving them the right to reject development and exploration plans, and international investigations have revealed evidence of corruption in those contracts.
In addition to stopping most projects, such as construction, petrochemical and oil industries, which resulted in the deficit in energy sources, which Iraq is compensating for by importing from Iran, and today the country with its infrastructure is almost completely collapsed.
As the energy shortage has become a chronic crisis in a country floating on a lake of oil, and Washington has so far allowed Baghdad to import what it needs from Iran to provide additional hours of nutrition per day.
Exposure to economic sanctions exacerbates the problems of Iraq, where one out of every five people lives below the poverty line, and one out of every four young people suffers unemployment. According to the Ministry of Planning, the official indicator for measuring the poverty rate approved locally, and in the World Bank, is 22.5%, meaning that about A quarter of the Iraqis are poor. In Basra Governorate (south), there are 100,000 families living under the extreme poverty line, it is unreasonable for the province to float on a sea of oil and its children do not get the simplest ingredients of life, due to failed government policies, which makes job opportunities very difficult.
And the increase in the poverty rate in Al-Muthanna Governorate to a level that caused an increase in the crime rate ..
Is it possible to avoid the effects of sanctions, as the problems are intertwined economic, political and social:

In popular and academic circles about the consequences of any measures taken against Iraq, the Iraqi Advisory Council issued a research paper that included 10 solutions to avoid those effects.
In its report, “proposed solutions and remedies to avoid the potential effects of the US economic sanctions on Iraq.
1- It is worth avoiding any potential direct or indirect sanctions to prevent similar repercussions that are difficult to manage for decades to come.


He cited examples of recent sanctions imposed by the United States on Iran and Russia, and mentioned what Iraq witnessed in the nineties of the last century, noting that “Iraq was able at that time to overcome frightening famines due to the implementation of the ration card system, in addition to the fact that its population is less than it is today In addition to its possession of a productive agricultural sector, an industrial base, and infrastructure, despite that, the effects and consequences of the embargo were catastrophic, and Iraq has not recovered from them to this day.
Iraq's economy is fragile, being rentier due to its dependence on oil exports, its lack of the industrial and agricultural sectors, and its lack of ability to export what it produces to Iraq to increase national income from hard currencies.
He summarized the implications of imposing direct or secondary sanctions on Iraq as "the collapse of the Iraqi dinar, which leads to an increase in the size of monetary inflation, an increase in the size of excessive inflation, a decline in the purchasing power of the dinar, an unprecedented rise in the prices of goods and commodities, and a decrease in the value of savings."

He added, that the global economy depends on the dollar, and if the United States decides to limit or limit the flow of the dollar to Iraq, it will inevitably not stand up to internal and external challenges, especially as the central bank is directly and closely linked with the American banking system since 2003.

As for solutions The advisory board proposed a set of steps, but before mentioning them, the Links Center for Research and Strategic Studies through the presented economic studies confirms that any solution is aborted with distinction unless the Iraqi state administration was done by Iraqi men belonging to Iraq and the soil of Iraq first and not loyalty to another country or religion Or just for ideology or party, in which case suggestions, solutions and plans for the country's revival can be taken.
Among these proposals are: “Diversification of income sources to reduce dependence on oil sales, attention to non-oil sectors such as industry, agriculture, and tourism, transferring certain percentages of dollar storage with the central bank to other difficult currencies, and changing the regulations and laws of banks and the central bank law to keep pace with the development of banking systems in The modern world, opening channels of dealing with large European banks and adopting them as intermediary banks for financial transfers and opening government bonds.

The most important thing is to follow the food security policy and secure the requirements of this policy for achieving self-sufficiency and encouraging the food industries, packaging, packaging and marketing, which will in turn be reflected in the employment of more Iraqi manpower and the reduction of unemployment.
Encouraging professional and technical education, establishing a fund to support small craft projects, developing diplomatic dialogue with influential countries in the world, activating mutual understanding with them and the United States of America, encouraging foreign investment, and establishing a sovereign monetary fund by financing it with a certain percentage of monthly oil sales.

And the American-Iranian military confrontation in Iraq raised fears that the country would turn into an open arena of conflict between Washington and Tehran, before the tension subsided in the past few days.
And about 5 thousand American soldiers are deployed in military bases throughout Iraq, as part of the international coalition to fight ISIS, but the Iraqi parliament voted on the fifth of January two thousand and twenty, on a decision to expel foreign forces in the absence of Sunni and Kurdish representatives, and as a result, Trump threatened, Imposing economic sanctions on Iraq if Baghdad decides to remove American soldiers.

In conclusion .. Iraq is still one of the most corrupt countries in the world, according to the Transparency International index, over the past years, and international reports always appear in the presence of embezzlement and waste of public money, and the country ranked 169 out of 180 countries in the corruption index.
Corruption was a major cause of weak government performance, weak decision-making, state fragility and the domination of external forces, such as Iranian interference and the control of Iranian militias over the administration of the state, whether parties or people, and thus loyalty to Iran and not to Iraq, and Iraqi youth became conscious and provoked his anger and took to the street to return the homeland to its people.

Economic Studies Unit,
Links Center for Research and Strategic Studies

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Al-Arabiya.net publishes documents that an Iraqi network was involved in smuggling Iranian oil
 


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Dubai - Hajar Kaniyo - It is no longer hidden from one of the fraudulent methods used by Iran to smuggle its oil, through secret transportation networks and with cover from armed militias and their arms in the region, whether by sea or land, but that corruption and smuggling operations are carried out by "codified" methods or through the institutions of the Iraqi state, This raises question marks that must be stopped at!

Al-Arabiya.net has obtained leaked documents prepared by a deputy in the Iraqi parliament, which shows deficiencies on the Iraqi state oil marketing company, SOMO, which is considered the main supervisor of the Iraqi oil export and marketing operations, and has opened the door for his death to inquiries about corruption and waste.
These documents show that the company "SOMO" has dealt with Iraqi private banks regarding letters of guarantees for the implementation of a number of contracts, which are credits opened by the Iraqi Central in these banks, to import oil derivatives to meet the local needs of (gas oil, gasoline, diesel, and white oil, Liquid gas), what is required to secure the hard currency "dollar".

 

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But the surprise is, according to what Al Arabiya.net reported, that the boards of directors of these banks belong to Iranian businessmen, or are owned by individuals with ties to Iran, which means that Tehran has benefited from these contracts, striking with the US sanctions. Exporting its oil derivatives to Iraq at a price supported by the Central Bank of Iraq, obtaining the dollar, making profits from the currency difference, in what is called a "currency auction", and financing the private banks for their work with the money of the central bank.

Al-Arabiya.net tried to contact SOMO company to stand upon its opinion, more than once, and we have sent the required clarifications on the e-mail to the company's public relations head, Haider Al-Kaabi, and he said it to the general manager, Alaa Al-Yasiri, and promised to get answers, However, the response has not yet come on the pretext of security developments in Iraq. (Here it must be noted that the company’s right to respond is reserved.)

According to the figures, the total amounts of oil products imported from Iran for the years from 2010 to 31/31/2017 have exceeded 21 billion dollars, as shown in the table below.

 

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The figures published by FACT Global Energy (FGE) recently are evidence of this, as it showed a big jump in Iranian diesel exports to its neighbors such as Iraq, Afghanistan, Pakistan and Syria, in defiance of the American sanctions. As diesel exports increased to about 95 thousand barrels per day in the last quarter of 2019, which is more than 80% more than the third quarter and is about 4 times higher compared to the first quarter.

Iraqi banks and "lined" Iranian links.

As for the Iraqi private banks, which we review below, each has a story, as the Iranian-Iraqi ties are evident:

1- The Regional Cooperation Bank:
It is an Iranian and Iraqi investment bank, with an official statement from the Central Bank of Iraq, confirming that the bank’s ownership belongs to Iraqi and Iranian businessmen.

2- The United Bank for Investment:
its owner, Fadel Al-Dabbas, who is accused of corruption cases, with Iraqi businessman Khamis Al-Khanjar, who was recently imposed US sanctions, in addition to 3 leaders from Iraqi militias linked to Iran, on December 6, 2019.

Here it must be noted that in November 2018, the Central Bank of Iraq decided to place the United Bank for Investment under trusteeship. Even more than that, as the Jordanian public prosecutor issued a memorandum to Interpol to pursue “Al-Dabbas”, on May 28, 2018, and the latter escaped to an unknown destination.

 

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Hassan Nasser Ja`far .. confusion and interconnected network, and here the name “Hassan Nasser Ja`far al-Lami” (Abu Rami) is revealed, according to what the Iraqi researcher and economist Dr. Sadiq al-Rikabi revealed to Arabic.Net, where he owns a share of 40% of the United Bank for Investment that opens Credits to Sumo.

It also opens the eyes to the two banks owned by Hassan Nasser Jaafar, namely: Noor Iraq Islamic Bank and Trans-Iraq Bank, as well as Sama Baghdad Exchange Company.

With reference here that Baghdad Exchange Company, which is owned by Abu Rami, was closed by the Jordanian authorities with red wax in 2016.

 

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3- Elaf Islamic Bank:
previously dealt with the Iranian Export Development Bank and was subjected to US sanctions in 2012 and then lifted from it in 2013, during the era of Former US President Barack Obama, where that stage was known the stage of negotiations "and softness" by Obama, which preceded the signing of the Iranian nuclear agreement.

4- Al-Bilad Islamic Bank:
Its 
board director, Aras Habib al-Faili, was imposed on him by Washington for accusing him of financing the Iranian Revolutionary Guard, and facilitating the exploitation of the Quds Force of the Iraqi banking sector to transfer funds from Tehran to Hezbollah.

 

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5- Al-Ittihad Bank:
It is owned by the brothers Aqil and Ali Muftin, who are close to Nuri al-Maliki. In 2016, their bank was subjected to seizing 200 million dollars by the American Federal Reserve, as part of a $ 6 billion transfer to Al-Huda Bank owner Hamad al-Musawi, who is close to Nuri al-Maliki.

With reference, however, they have close relations with al-Maliki through Ali al-Alaq, the governor of the Central Bank of Iraq, who is solely responsible for purchasing the currency.

 

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The Central Bank of Iraq is being monitored by these facts. It appears that the American administration has not yet fully controlled its financial networks and Iran's proxies in Iraq.

This was alluded to by the Vice President for Research at the Foundation for Defense of Democracies (FDD). Jonathan Shanzer, a former Treasury Department official, in an exclusive interview with Al Arabiya.net, where he revealed that the US administration has already placed the Iraqi Central Bank under surveillance and its operations are subject to some scrutiny, amid reports that the Central is involved in smuggling dollars in cash to Iran .

But he completely excludes, in return, that the US Treasury will resort to imposing sanctions on the "Central Bank of Iraq", describing this step as a "nuclear option" that will completely destroy the Iraqi economy.

Upcoming sanctions on financial institutions 
The possible scenario, in his view, is to impose new sanctions on individuals or companies working for or on behalf of Iran, recalling the sanctions that included smaller financial institutions in a warning step from Americans in other institutions involved.

Do not deny Jonathan Schanzer, that the sanctions on Iranian agents in Iraq have been delayed, saying in a strict tone: “If the United States really seeks to weaken Iran's grip on Baghdad, it must paralyze the financial networks that enable it to finance its operations in the region.”

Financial fines and manipulation of the quantities taken on "SOMO" did not stop there. The documents showed the imposition of financial fines on the company due to the delay in unloading the oil tankers, as well as the delay in loading, as well as fines related to service contracts for crude oil.

 

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And due to the lack of a comprehensive monitoring system that shows the difference between the quantities of oil extracted, produced, exported and used for domestic consumption, it was easy to manipulate the programs of loading oil tankers, according to Dr. Al-Rikabi, especially, in light of the great shortage in the meters used to measure the supplied oil.

 

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Al-Rikabi indicates that one of the foreign companies that were operating in Iraq previously confirmed that there are big differences when transporting crude oil to tankers up to 50%, which prompted it to withdraw from Iraq, and sometimes the tanker load reaches twice the size of its recorded size, due to the smuggling of Iranian oil with it.

Here it must be noted that the company, "Eni", had refused on June 20 a shipment of Iranian crude docked in one of the ports under the cover that it is from Iraqi oil shipments, in an attempt to evade US sanctions.

 

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Association of Banks holds a course "Certified Compliance Officer Certificate"


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26th January, 2020

 

The Association of Iraqi Private Banks announced on Sunday that it had held a "Certified Compliance Officer Certificate" course at its headquarters in Baghdad

The course was held in cooperation between the Iraqi Private Banking Association and the International Academy for Finance and Management

The course aims to define the meaning of corporate compliance and the ability to develop an organizational response to its demands and understand the consequences of the risks of non-compliance as well as assess the relationship between corporate governance and compliance, including market expectations for that relationship

The course targets compliance departments, risk management departments, money laundering and terrorist financing reporting departments, secretaries of boards and internal audit departments

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11 minutes ago, dinarham said:

Thug , I  do belive that 's  the "owning a boat " hole


So Far In This Investment - All We’ve Been Doing Is Taking It In The ‘Boat Hole’ ! :o 

 

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:D  :D  :D 
 

Edited by DinarThug
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Sorry .i'm wrong . It's the "owning a house " hole .  I know that you know that this is a solid investment .  This is no "get rich quick " thing like I thought initially . So 15 years later,,,,,,,,,, . I 've had great fun with this and have learned so much ,like "What's the IMF "  , ,foreign reserves  , and the corrution of goverment .  Skat ! this is going to happen !

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Include The Saudi Riyal As A Settlement Currency Used In The “Beni” Platform For Arab Payments

 

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26th January, 2020


In the context of preparing for the launch of the "Beni" platform for Arab payments of the Arab Monetary Fund and the start of the process of joining central and commercial banks in the platform, the fund announced in coordination with the Saudi Arabian Monetary Agency that the "Beni" platform will provide clearing and settlement services for the Saudi riyal currency, Besides the currencies of the US dollar, the euro, and other international and Arab currencies, they will be announced later.

It should be noted that the “Bani” platform, a multi-currency platform that provides clearing and settlement services in Arab currencies and international currencies that meet the eligibility requirements, in order to clear inter-Arab financial transactions as well as financial transactions between Arab countries and the main trading partners of the Arab countries.

The “Bani” platform has enhanced capabilities to ensure that the operations of the platform comply with relevant international principles and standards, foremost among which are the standards related to combating money laundering and terrorist financing operations, in addition to complying with the regulations for the currencies used on the platform.

It is mentioned that the platform is available to all banks that meet the criteria and conditions for participation in it, at the forefront of which are the standards and procedures for compliance aspects. 

 

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