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Economist: The influential people hold the auction of the currency, and the state cannot open this file


Mary B
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Economist: The influential people hold the auction of the currency, and the state cannot open this file

09:00 - 14/02/2020
 
  
%D8%AF%D9%88%D9%84%D8%A7%D8%B1444-696x43

Information / private ..

Economic expert, Saleh Al-Hamash, confirmed on Friday that influential people from the political class are holding the currency auction, noting that the state cannot open this file despite the corruption in it.

Al-Hamash said in a statement to, "Information," that " Iraq owns more than 70 banks, 90% of which are private and the rest are government, where most of the private banks operate the auction of currency sale."

He added that "most of the hawala companies and private banks are affiliated with influential political authorities in the authority, taking advantage of their presence in the position to obtain financial gains from the auction of selling the currency," noting that "this auction is not possible for the ordinary citizen to participate and enter because of his monopoly from the influential class in the country."

He explained that "the state is unable to open the files of the corruption of the auction of selling the currency, because the decision-makers and those close to them acquire this auction and have financial interests and banking transactions and control the capabilities of the country, which makes it difficult to open the file of corruption for the currency auction." 25 n ended

 

https://www.almaalomah.com/2020/02/14/455677/

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I'll say it again: When sitting on top of one of the largest oil deposits in the world,  you can make a lot more money honestly, by selling your oil, than you can dishonestly, by financial manipulation such as this. Currency auctions only benefit the rich, not the poor. Currency auctions reduce overall economic activity, because they exclude the overall economy of Iraq from the riches of the world economy. That's really stupid. That's really self destructive. It's like blowing up your own bank account. Currency auctions are not even good for the Iraq rich elite, in the long run. They are just for the short run financial benefit of a few people in Iraq. These elite idiots on Iraq will eventually realize they can actually get a lot richer honestly, than they can by running essentially, a financial scam. The elites in Iraq could actually make an awful lot more money, than they do now, simply by ending these auctions.

Ordinary Iraqis would get much richer, but so would the elites. I suggest they stop screwing themselves over.:bananacamel:

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4 hours ago, Mary B said:

Economist: The influential people hold the auction of the currency, and the state cannot open this file


 

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Economist: The influential people hold the currency auction and the state cannot open this file

 

%D8%AF%D9%88%D9%84%D8%A7%D8%B1444-696x43
 

09:00 - 14/02/2020
 
 

Economic expert, Saleh Al-Hamash, confirmed on Friday that influential people from the political class are holding the currency auction, noting that the state cannot open this file despite the corruption in it.

Al-Hamash said in a statement to, "Information," that "Iraq owns more than 70 banks, 90% of which are private and the rest are government, where most of the private banks operate the auction of currency sale."

He added that "most of the transfer companies and private banks are affiliated with influential political authorities in the authority, taking advantage of their presence in the position to obtain financial gains from the auction of selling the currency," noting that "this auction is not possible for the ordinary citizen to participate and enter because of his monopoly from the influential class in the country."

He explained that "the state is not able to open the files of corruption of the auction of selling the currency, because the decision-makers and those close to them are taking over this auction and have financial interests, banking transactions and controlling the country's capabilities, which makes it difficult to open the file of corruption for the currency auction."

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Campaign for "Immortalizing the Revolution" .. Activists write famous phrases from the protests on banknotes


2020-02-13
 
 
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Yassin Iraq: Baghdad

 

Activists launched a campaign to write phrases from the "October Revolution" on banknotes circulating in Iraq, in a step to promote and communicate the expressions of protest and remind people of the sacrifices made by the demonstrators.

Pictures viewed by "Yassin Iraq" showed coins of various categories, which read: "We are a people led by a martyr," as well as "# Tishreen Revolution, # Ibn Thanawah".

GBTn1Stq_normal.jpg
nooraqaissi@nooraqaissi
 
 

ناشطين يطلقون حملة كتابة جمل من ثورة تشرين على اوراق العملة.
تذكيراً بتضحيات الشباب

Activists launch a campaign to write sentences from the October Revolution on banknotes. A reminder of the sacrifices of young people
View image on TwitterView image on TwitterView image on TwitterView image on Twitter
 
AvccpbkJ_normal.jpg
ابن الأنتفاضه@qaaaq439
 
 

#بناتك_ياوطن ناشطين مدنيين يطلقون حملة كتابة جمل من ثورة تشرين على أوراق العملة لكي يتم أستخدامها في الأسواق وتذكر الناس بتضحيات شباب ثورة تشرين المباركة

Ibn al-Intifada @ qaaaq439 # Your daughters, homeland, civil activists launch a campaign to write sentences from the October Revolution on currency notes in order to be used in the markets and remind people of the sacrifices of the young people of the blessed October Revolution
View image on TwitterView image on Twitter
 

At the time when the idea was objected to by some commentators, given that the currency would "be destroyed", the campaign was not without ridicule, as one of the tweeters commented saying: "Imagine who you are, and you receive your salary, and you will see the writing of Heiji", and the Iraqis use the word "tail" on People with external allegiances, who criticize and hostile demonstrations.

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7 hours ago, DinarThug said:

Campaign for "Immortalizing the Revolution" .. Activists write famous phrases from the protests on banknotes


2020-02-13
 
 
EQngTpoWAAA8Vaf.jpg?resize=320%2C320&ssl


 

Yassin Iraq: Baghdad

 

Activists launched a campaign to write phrases from the "October Revolution" on banknotes circulating in Iraq, in a step to promote and communicate the expressions of protest and remind people of the sacrifices made by the demonstrators.

Pictures viewed by "Yassin Iraq" showed coins of various categories, which read: "We are a people led by a martyr," as well as "# Tishreen Revolution, # Ibn Thanawah".

GBTn1Stq_normal.jpg
nooraqaissi@nooraqaissi
 
 

ناشطين يطلقون حملة كتابة جمل من ثورة تشرين على اوراق العملة.
تذكيراً بتضحيات الشباب

Activists launch a campaign to write sentences from the October Revolution on banknotes. A reminder of the sacrifices of young people
View image on TwitterView image on TwitterView image on TwitterView image on Twitter
 
AvccpbkJ_normal.jpg
ابن الأنتفاضه@qaaaq439
 
 

#بناتك_ياوطن ناشطين مدنيين يطلقون حملة كتابة جمل من ثورة تشرين على أوراق العملة لكي يتم أستخدامها في الأسواق وتذكر الناس بتضحيات شباب ثورة تشرين المباركة

Ibn al-Intifada @ qaaaq439 # Your daughters, homeland, civil activists launch a campaign to write sentences from the October Revolution on currency notes in order to be used in the markets and remind people of the sacrifices of the young people of the blessed October Revolution
View image on TwitterView image on Twitter
 

At the time when the idea was objected to by some commentators, given that the currency would "be destroyed", the campaign was not without ridicule, as one of the tweeters commented saying: "Imagine who you are, and you receive your salary, and you will see the writing of Heiji", and the Iraqis use the word "tail" on People with external allegiances, who criticize and hostile demonstrations.

twitter link

link

I would love to come across a couple of these notes and send them to Schumer and Poloski

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Legal protection of the national currency

 

Saturday 15 February 2020

 

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Judge / Kazem Abdel-Jasim Al-Zaidi 
 

There is no doubt that the currency is of great importance as the main tool for dealing which necessitates the full confidence in the state’s currency, and it has called for securing confidence in the currency that the state monopolizes itself with the right to issue its currency, and for this reason it was and still is crimes of counterfeiting the currency, and from the ages when the money was known, from Serious crimes affecting the financial reputation of the state. Therefore, old legislation imposed on them the most severe penalties, and we find that the Iraqi legislator punished these crimes as crimes. This crime acquires its seriousness in several ways. 


It is an attack on the sovereignty of the state and its right to mint the currency because it undermines confidence in the official currency, and this inevitably leads to a decrease in the value of the official currency in circulation, which is necessarily reflected on the bonds and securities issued by the state, and the risk of this crime extends to the innocent individuals who fall into their hands. 

Counterfeit currency, what drives them to get rid of it by dealing with it, which extends the crime department to include a larger category of individuals, and the Iraqi Penal Code, No. 111 of 1969, as amended, in Article (306), is imprisoned for a period not exceeding a year, or A fine for anyone who does not accept a valid national currency in circulation Legally, at their nominal value, whether metallic or paper, and currency-specific crimes are crimes against public trust and crimes related to the national currency stipulated by the Iraqi legislator, in articles (280-281) of the Iraqi Penal Code, namely, counterfeiting, forgery, forgery, entry to Iraq and possession with intent Promotion Dealing and re-dealing with a coin or banknotes that are invalidated in dealing with it, and the Iraqi legislator requires that the crime of counterfeiting, counterfeiting or counterfeiting the currency be required for the act to be based on a currency legally traded or custom in Iraq or in another country, and the intention of legal circulation when individuals are obligated to accept it in dealing .

In other words, legal circulation is the obligatory law for individuals to accept the state’s currency in their transactions, i.e. currency circulation has become compulsory, it is not up to the individual’s choice if he wishes before it, and he has the right to refuse to deal with it and that crimes of counterfeiting currency include all manifestations of assaulting public trust and that the punishment Essential in counterfeiting crimes is imprisonment, and the Iraqi legislator imposed a prison sentence of no more than seven years for anyone who makes or possesses a coin, lender, machinery, tools, or other things, what is used in counterfeiting, counterfeiting or counterfeiting a currency, whether paper or metal. 

And banknotes or bonds, and the articles (283 - 284 - 285) came. As for the cases of exemption from punishment for the purpose of encouraging the perpetrators to return to the proper path and not to continue the crime to the end of it, Article (303) of the Penal Code stipulates that the person who committed a crime by imitating or falsifying seals, bonds, or stamps, or Counterfeiting currency, forgery of banknotes and financial papers and forgery of official documents if he told the public authorities before their completion and before the authorities searched and investigated their perpetrators, and that the protection of the national currency is the protection of public trust, given that the law does not protect things for themselves, but rather their relationship with people and constitute crimes of counterfeiting In the end, hitting the integrity and health of the currency, tampering with it, and exposing it to a risk of losing its role, which leads to a disturbance of public financial confidence based on the emotional psychological state of individuals and groups, and to spread deterioration and turmoil in financial transactions, commercial markets and banking institutions, and to create chaos and confusion as a result of the mixing of counterfeit currency    

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The US Treasury publishes a video that includes simple steps to reveal the "fake" dollar

 

(YOUTUBE VIDEO LINK)

 

Localities 02/15 2020 17:28 500    


Baghdad today - follow up 

 

The US Treasury Department released an explanatory video, which includes simple steps through which the "counterfeit currency" of a dollar can be distinguished from various categories from non-counterfeit.

The video also included an introduction to how to understand the key security features common to all banknotes in the United States to help determine whether the banknote is original or not quickly and easily.

“Fake” dollar currencies are widely spread in most countries of the world, while gangs specialized in counterfeiting currencies develop from their counterfeiting mechanisms whenever banks to print currency devise new codes that limit counterfeiting. 

To read the news and watch the video, on the original website of the US Treasury, click HERE

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A deputy speaks in numbers about the size of the monthly expenditures of the large Iraqi parties and identifies funding sources 

 

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Politics 02/25/15 18:51 1359     


Baghdad today - Baghdad 

 

A member of the Iraqi Council of Representatives, Basem Khashan, revealed on Saturday (February 15, 2020) that the major political parties spend $ 10 to $ 15 million per month on their offices, media channels, and whoever is connected to them.

Khashan said, in an interview with (Baghdad Today), that "the cost of monthly spending for the major political parties in Iraq ranges from (10-15 million dollars) per month in order to secure spending on dozens of their offices, employees, media and radio channels, and other related centers. ".

He continued: "The resources of the large parties to secure this large spending take several directions. For example, one of the major parties undertakes monthly deductions from its deputies, which takes many paths against the law." 

He pointed out that "those parties are paid to them even from their former representatives, and managers of special grades."

And he added, "We are talking today about large numbers of funds that are spent monthly on the offices of these media and other parties. As for the contracts related to these parties, the matter is greater, as there are companies close to those parties specialized in signing contracts." 

Khashan pointed out that "the big parties own economic bodies, manage their accounts and organize the money flowing to them," asking, "How do these parties spend the huge amounts of money in their media campaigns that reach very large sums." 

On August 27, 2015, the House of Representatives enacted the Parties Law, which stipulated in one of its clauses the obligation of parties to disclose the sources of their funding and the fate of the funds they spend. 

To view the full text of the Law on Parties from the Iraqi parliament’s website, click HERE

LINK

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Maybe The CBI Should Start Feeding That Weakling Dinar Some Vitamins And Wheaties Before It Catches Something ! :o 

 

 

At Least Maybe Some “Snap, Crackle, ‘Pip’ - Rice Krispies” ...

 

:D  :D  :D 

 

 

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China quarantines its money 14 days to stop the spread of "Corona"

 

 

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19:44 - 02/15/2020
 

The Central Bank of China announced a decision to "cleanse" the circulated banknotes, by placing them in a "stone" to limit the spread of the Corona virus. "Banks use ultraviolet radiation or very high temperatures to sterilize banknotes, before isolating them for a period of 7 to 14 days," said Deputy Governor of the Central Bank of China, Fan Yifei.

He added: "We must maintain the safety and health of users of cash flow," referring to the suspension of financial transfers between Chinese provinces, stressing the possibility of returning the banknotes to circulation after the expiration of the "quarantine" period, which depends on the severity of the epidemic in the region concerned.

These measures come in parallel with the increasing hesitation of the Chinese to use the currency for fear of catching the infection, although most consumers have been using their smartphones to pay for their daily purchases for years. According to the World Health Organization, the virus mainly transmits through the respiratory system, by touching infected areas.
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Mazhar: Implementation of the Chinese agreement is subject to approval of the budget

 

Sunday February 16 2020

Baghdad / Mustafa al-Hashemi

 

 

Advisor to the Prime Minister for Financial Affairs, Dr. Mazhar Muhammad Salih, confirmed that the agreement with China has been in effect since last October, and that direct implementation is related to approving the budget for 2020 and allocating funds for the projects to be established.


Saleh added in a statement to "Al-Sabah" that "the Iraqi-Chinese agreement is very flexible and bears that partnership contracts, investment or contracting to implement basic projects for infrastructure in the country, in addition to that it will last for 20 years, as this would reflect on the economic reality positively".

He believed that "earning the time factor is an important element for achieving development in Iraq," stressing that the general budget still accounts for 110 percent of all revenues that go as an operating budget with the absence of the investment budget, which makes us wonder: So where is development?

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Thanks Mary B & DinarThug for these revealing articles ... it will have to be addressed eventually. Give Allawi time, and hopefully he'll be able to really expose the perpetrators - similar to what Trump is trying to do, but is experiencing resistance all along the way..!

Edited by ronscarpa
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After localization of salaries

 

Sunday February 16 2020

 

Mohammed Sharif Abu Maysam
 
 
The benefits of localizing the salaries of employees are not limited to possession of the smart card through which money transfers can be avoided, and enjoying the services of purchasing from centers and commercial stores without dealing with paper money, in addition to the possibility of cash withdrawal through automated teller machines, but these benefits are multiplied for the public to include The card holder obtained housing loans and pension advances provided by banks in an atmosphere of competition, by ensuring the existence of the salary and without the need for a guarantor, as was approved in the mechanisms of granting loans and advances, which caused many exploitation phenomena, through the bargaining of the loan owner on a percentage of the values of Money in exchange for Guarantee.

And after the criterion of competition between banks became dependent on the method of granting advances and loans to attract the largest number of employees, within the framework of electronic cards in order to achieve the goals of financial inclusion towards reducing the circulation of paper currencies and the adoption of electronic trading, it became important to define the features of the subsequent steps, to withdraw the chunky cash block To the field of banking circulation, which the central bank estimates at about 70 percent of the issued cash, amounting to about 44 trillion dinars, and then recycling it in credit operations towards creating sustainable economic development, which makes the localization of employee salaries a first step toward To establish a culture of savings and restore public confidence in the banking plaza trading, by targeting segments of the general community banking services across the country.

Because many societal segments did not become familiar with dealing with the banking sector, it became necessary to search for services that required these segments to deal with the banking sector in light of electronic payment capabilities, such as automating the collection, fees, and charges for health and electrical services of all kinds, even through the ration card, and providing loans and advances in Limits of the cardholder's funds movement rates in his current account after a specific time period for non-employees, or the provision of future loans to those who open a savings account or an ongoing account in which the funds are deposited for the benefit of small age groups, including the purchase of housing units or residence m Small projects when they reach these age groups working age, including the account holder is granted the right to move these funds in certain financial and time limits, which will push towards dedicating a culture of savings and cash withdrawals to the trading bloc compacta The banker Square .

Consequently, the other steps after the resettlement of state employees salaries will determine the success of the financial inclusion program supported by the axes of banking awareness through electronic sites and social media sites, as well as the importance of protecting the public by reducing the slack rings in the procedural steps followed in some banking institutions that are not Still suffering from the Bureaucrat mind .

LINK

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3 hours ago, DinarThug said:

After localization of salaries

 

Sunday February 16 2020


 

LINK

Al-Rafidain takes part in the financial inclusion meeting and a tribute to the role of localizing employee salaries

 

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09:00 - 16/02/2020
 
 

Rafidain Bank participated in the coordination meeting held by the Central Bank of Iraq - Mosul branch in the presence of officials and specialists in the financial and banking affairs and electronic payment companies to discuss the joint work plan in preparation for the activities of the Arab Day for financial inclusion.

The media office of the bank said in a statement received / information /, a copy of it, that "the meeting addressed the steps that will be implemented during participation on the day of financial inclusion, which will be from 25-30 / 2020/4 and with the participation of banks in the country and the accompanying this important event of holding conferences Seminars and workshops to enhance the concept of financial inclusion and showcasing the services and products that banks offer their customers.

The statement added that "the attendees praised the efforts of the Rafidain Bank in settling the salaries of state employees and what it provides through the MasterCard credit card, loans and other benefits via the electronic card."

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Al-Rafidian participates in the meeting of financial inclusion and electronic payment    LINK

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Foreign Minister calls on Cyprus investment companies to work in Iraq


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16th February, 2020

 

On Sunday, the Iraqi Foreign Minister, Muhammad al-Hakim, called on Cyprus investment companies to work in Iraq

A statement on the Al-Hakim office, which was received by Al-Iqtisad News, said that the latter "discussed with the Cypriot Foreign Minister Nikos Christodoulides the prospects of upgrading bilateral relations between the two countries by signing a number of memoranda of understanding, and activating the memorandum of understanding for political consultations between Iraq and Cyprus

He explained that "the two sides discussed accelerating the holding of the International Conference for Reconstruction and Development in Iraq

The Minister Al-Hakim expressed, according to a statement, "Baghdad's aspiration to achieve economic cooperation, calling on the Cypriot investment companies to work in Iraq, especially in the fields of construction, housing and infrastructure

He invited his Cypriot counterpart to "visit Iraq in the context of deepening relations between Baghdad and Nicosia

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Iraq Is Set To Hold A World Conference For Reconstruction And Development    LINK

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How do you recover the stolen money?


February 16, 2020

 

 

fat1-1-1.jpg

 

Dr.. Fateh Abdul Salam

 

There are two recent Arab experiences, the first in Egypt and the second in Syria, based on recovering the stolen and collected money. Unjustly and under the exploitation of the governmental circumstance, from a number of fleeing personalities outside the country, With no claim to be legally accountable. That is, the main goal is to get back the money, not hold the thieves accountable, because of the difficult economic circumstances of the two countries

There are those who agree with the idea as an achievement to cross the stage of the legal accounts that may be lengthy and needing High financing, politically biased, and creeping in revenge, perhaps without achieving the desired goal. While another team believes that this process does not comply with the ethical and legal standards in accounting for a thief Public money and not neglecting the public right, whatever the state's urgent need to collect funds. And both sides have their diligence in the conduct of the political affairs of their country in order to achieve public benefit

These are clear mechanisms in Syria and Egypt, so what kind of deal can any new government undertake In Iraq about the looted money, with the vast difference that the Iraqi corruption files excel and bone Wealth that has been wasted or smuggled

In Iraq, the situation is different because there are personalities and parties involved in public money that are still at the forefront of the scene Politician or public, and some of them do not see any harm in wasting money because there are wide margins In emergency powers she surrounded him and justified him

We know that the next interim government will not open large files that do not have the capacity to address them. But will matters go under the guise of the strong and the weak, in the stable governments that will bring the early elections? To be established

Any steps below the roof that has been moving through the high street five months ago will make fire Continuous ignition, more widespread and uncontrolled. Rather, failure to answer a question about how to recover the stolen money could lead to the same collapse Expected

 

Editor-in-Chief - International Edition

fatihabdulsalam@hotmail.com

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Iraqi expectations of oil prices ranging between 53 - 54 dollars a barrel

 

oil-55.jpg

 

17th February, 2020


Former Oil Minister Ibrahim Bahr Al-Ulum predicted that global oil prices will range between 53 and 54 dollars a barrel, and that OPEC countries make a decision to reduce the quantities offered by them during their meeting next month, and that Iraq has a share in this reduction, urging the next government to Implementing the fifth licensing round and developing the Kirkuk and Nasiriyah fields to enhance their production.

The semi-official newspaper, Al-Sabah, was quoted in its Monday edition, Bahr Al-Ulum, as saying that oil prices in the world market are declining for two reasons. The two reasons will force the (OPEC) countries to meet next month to reduce production again once more than it is, and Iraq will bear part of it.

He added that the world oil prices will range between 53 and 54 dollars a barrel, hoping that it will not decline for more than that, because it depends on the (geopolitical) conditions of the country and the region, especially for Iraq, where most of its exports go to Asian markets, especially China, and therefore any impact will affect exports and markets. Generally.

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