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Official: The Presidency is coordinating with the Iraqi Parliament to amend the Smuggled Money Recovery Act


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 2021-02-01 07:01
 

Shafaq News / The World Bank confirmed that changing the exchange rate of the Iraqi dinar against the US dollar gives the state the ability to increase its revenues and face imports from abroad.

As he indicated that his financial portfolio in Iraq currently amounts to two billion dollars, he revealed a global initiative that the World Bank is working on to recover money smuggled from countries.

The Special Representative of the World Bank Mission in Iraq, Ramzi Numan, said in an interview published by the Iraqi government news agency and seen by Shafaq News Agency; "The partnership relationship between the World Bank and Iraq is very close and is based on years of joint work, pointing out that" Iraq enjoys a very important position at the Arab and global level, and that the World Bank was next to Iraq in the various stages of stability and peace, or in the stages to which it was exposed. To the attacks or changing economic conditions, which led to difficult repercussions on the government and people of Iraq, and actual work began with Iraq, I think, in the years 2006 and 2007 through a group of projects.

He added that "the World Bank's portfolio in Iraq currently amounts to two billion dollars and that these loans were signed about two or three years ago," noting that "the main pillar in it is a loan to reconstruct the liberated areas and the result of the request came after the beginning of the first phase of liberation, that is, the liberation of Salah Governorate." The debt was then supplemented with an additional amount after the liberation of the rest of the governorates.

And that "this current portfolio in Iraq includes projects under implementation and projects or loans due and that the World Bank is working to implement projects associated with them."

Regarding the change of the exchange rate of the dollar in the auction of selling the Iraqi currency, he pointed out that "changing the exchange rate aims to give the state the ability to increase its revenues, especially since the sale of oil in hard currency and converting it into the reality of the Iraqi dinar gives it a financial block that actually allows to increase revenues and reduce the deficit. He pointed out that "changing the exchange rate may allow facing imports from abroad because the domestic product becomes cheaper than what is imported from neighboring countries."

He explained that "the strategic objective of changing the exchange rate is to work to strengthen the local product and local industries to be able to face the external product, reinforced by measures to protect the product."

He stressed "the need to address the increase in prices and the seriousness of inflation, and focus on projects that actually allow facing the social distress of the poor."

He continued that "the idea of raising the price of the dollar is an international policy that the Ministry of Finance, the Ministry of Planning, and the Iraqi government have participated in, especially the International Monetary Fund," explaining that "Iraq is now in the plight of the financial deficit and it has nothing but borrowing, either internally or externally," indicating that "Internal borrowing threatens the reserves of the central bank, just as using it to fill the deficit removes the possibility of investment in productive opportunities that allow the development of the private sector, while external borrowing has its components and conditions that are based on debt sustainability, subsequent repayment capabilities, financial and monetary stability, and this financial engineering must be looked at in an integrated manner." From which one can consider lowering the currency rate. "

He revealed "there is a global initiative that a team from the World Bank is working on in coordination with international organizations to recover money smuggled from countries," announcing that special departments of the Ministry of Finance are linked to the World Bank's initiative, indicating that "the World Bank is ready to provide technical support."

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41 minutes ago, yota691 said:

The World Bank confirmed that changing the exchange rate of the Iraqi dinar against the US dollar

 

 "Iraq is now in the plight of the financial deficit and it has nothing but borrowing, either internally or externally," indicating that "Internal borrowing threatens the reserves of the central bank

Changing the exchange rate of iraq dinar? Actually  changing the rate of iqd is the best idea and do it immediately ( don't just talk BS ) as long as the rate of iqd  doesn't change from 1460 to 1600 or even 2000.

And why has iraq liked to keep borrowing many times instead of just deleting 3 zeros and releasing lower denoms and revaluing the iqd at least 1:1? Come on iraq. It has already been almost 18 years and do something with your worthless currency quickly.

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The information / private ..
The legal expert, Ali Al-Tamimi, explained the mechanism for Iraq to recover its smuggled money abroad.
Al-Tamimi told "the information", "The best international move to retrieve the money smuggled abroad, which is estimated at 500 billion US dollars, can be recovered through the money laundering agreement in 2005 and signed by Iraq in 2007 with the help of these countries."
He added, “ Iraq can recover its money as well according to Article 28 of the Iraqi-American Agreement of 2008, and also according to Article 50 of the United Nations Charter, which affirms the right of countries fighting organizations placed under Chapter VII of the United Nations Charter to request the assistance of the United Nations Organization and Iraq was fighting ISIS terrorist subject matter. Under Chapter Seven under Resolution 2170 of 2014 ”.
And that “Iraq has an amount of $ 65 billion in the US Federal Reserve frozen by the former regime, and Iraq can claim it according to the above agreement for the year 2008. 25 n

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Today, Saturday, the MP for the National Bond bloc, Faleh Khazali, called on the Iraqi government to restore Iraq's funds to Turkey, while revealing that it is estimated at 30 billion US dollars.

In a statement Alsumaria News obtained a copy of, Khazali stressed, "The necessity not to waste money Iraq Which edema Turkey And the government’s follow-up of this file. ”

He added that“ the amounts are estimated at 30 billion dollars, for violating the agreement on the Turkish-Iraqi oil pipeline, ”warning the government against“ indolence in this file, especially that Iraq At this time, he is going through a severe financial crisis. "
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Editing date: 9/2/2021 19:53 • 82 read times
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[Baghdad_Where]
The Parliamentary Integrity Committee called on Tuesday, the Iraqi judiciary and the Integrity Commission to open the files of Iraqi deposits abroad and the disappearance of their profits and not reporting them.
A member of the Integrity Committee, Khaled Al-Jashami, said, "Iraq has valuable deposits abroad and international banks, and no one knows the size of these funds and the profits made on them."

He added that "the central bank manipulated it and did not mention the talk about the profits made on those deposits, and there are no such profits in the budget."

Al-Ghashmi called for "the deposit file to be opened by the Iraqi judiciary and the Integrity Commission," noting that "Iraq could not eradicate corruption unless it has a brave judiciary that breaks into all files, opens them and holds them accountable."
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The information / Baghdad ..

On Monday, the legal expert, Ali Al-Tamimi, explained how Iraq recovered the frozen funds belonging to the buried regime, as well as the smuggled money.

Al-Tamimi said in a statement to "the information", that "the best international move to retrieve the money smuggled abroad, which is estimated at 500 billion dollars, can be through the money laundering agreement for the year 2005 and signed by Iraq in 2007 with the help of these countries, as well as cooperation via Washington according to Article 28 of the agreement." Iraqi American for the year 2008 ”.

He added, " Iraq can recover its money as well according to Article 50 of the United Nations Charter, which affirms the right of countries fighting organizations placed under Chapter VII of the United Nations Charter to request the assistance of the United Nations, and Iraq was fighting ISIS subject under Chapter VII under Resolution 2170 of 2014."

And that "Britain has shown its willingness to help in this file, and these countries contain in their countries a lot of smuggled money and are also wanted by the judiciary and also can help Iraq recover these funds, as well as the presence of $ 65 billion in the US Federal Bank frozen back to the former regime, and Iraq can claim According to the above agreement for the year 2008 ”. End / 25 n

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President of the Republic, Barham Salih
  

 money and business


Economy News - Baghdad

Today, Wednesday, the Presidency of the Republic announced the development of a legal code dealing with mechanisms to recover stolen funds.

The President of the Republic, Barham Salih, said in a brief statement seen by "Al-Eqtisad News": "The Presidency of the Republic is in the process of drafting a legal code dealing with mechanisms to recover funds stolen from Iraq, which are located abroad."

 
 
Number of observations 69   Date of addendum 3/17/2021
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  •  Time: 03/17/2021 12:10:56
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{Baghdad: Al Furat News} The President of the Republic, Barham Salih, revealed that the Presidency of the Republic "is in the process of developing a legal code dealing with mechanisms to recover funds stolen from Iraq, which are located abroad."

 

Saleh said in a press interview that "the file of corruption is serious and huge and needs broader and deeper treatments."
"We are preparing in the Presidency of the Republic the final touches on a legal code to recover the looted Iraqi funds, which went out to capitals and entered into investment," he added.
Ammar Al-Masoudi

 

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Iraq Starts Action to Recover "Billionaires Stolen"

 
Thursday - 5 Shaaban 1442 AH - March 18, 2021 AD Issue No. [15451]
 
 
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Iraqi President Barham Salih announced yesterday a mechanism to recover "stolen money" from Iraq (AFP)

Yesterday, Iraq launched a legal process aimed at recovering "looted funds" estimated by experts in the hundreds of billions of dollars.

Iraqi President Barham Salih said, in a televised interview, yesterday (Wednesday), that «the Presidency of the Republic is in the process of developing a legal code dealing with mechanisms to recover the looted funds from Iraq, which are located abroad». He added that "the file of corruption is dangerous and huge, and needs broader and deeper treatments." And he considered that "striking financial corruption is a fundamental pillar for establishing security, and without it, security will not be established." He continued, "We are interested in having fair elections, and for the Iraqi citizen to feel reassured that his vote is protected, and his decision is respected, and that it is not tampered with through fraud and other measures."

The economist Basem Jamil Antoine said to "Asharq Al-Awsat" that "the money smuggled abroad, part of it goes back to the period of the former Iraqi regime, and the other part goes back to the post-2003 phase." While it is not known how much was smuggled before the fall of Saddam Hussein's regime, Antoine says that "the money that was smuggled after the fall of the former regime is estimated at 250 billion dollars."

 

 

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An Iraqi "legal code" to recover "stolen money"

Experts estimate it at $ 250 billion since 2003
Thursday - 5 Shaaban 1442 AH - March 18, 2021 AD Issue No. [15451]
 
 
news-180321-iraq1.jpg?itok=SDl2eoOL
Iraqi President Barham Salih announced yesterday a mechanism to recover "stolen money" from Iraq (AFP)

Iraqi President Barham Salih announced that the Presidency of the Republic is preparing a legal code on mechanisms to recover "money stolen from Iraq" estimated by experts at about 250 billion dollars in the period following the fall of the regime of former President Saddam Hussein in 2003.
Saleh said in a televised interview yesterday (Wednesday). ), "The Presidency of the Republic is in the process of developing a legal code dealing with mechanisms to recover funds stolen from Iraq, and located abroad." He added that "the corruption file is dangerous and huge and needs broader and deeper treatments," noting that "with all these challenges there were procedures and courts that worked to rule on important corruption cases."
Saleh added that «the presidency of the republic is in the process of developing a legal code that we will negotiate with the House of Representatives, to recover the looted money from Iraq, perhaps it went to capitals and investments abroad». He pointed out that "there are important measures" that are being taken, considering that "striking financial corruption is an essential pillar for establishing security. Without it, security will not be established." He continued, "We are interested in having fair elections, and the Iraqi citizen feels reassured that his vote is protected and his decision is respected and that it is not tampered with through fraud and other measures."
Saleh's announcement regarding the development of this code of conduct comes at a time when the work of a higher committee formed under the order of the Iraqi Prime Minister Mustafa Al-Kazemi to fight corruption continues. While the Iraqi judiciary has condemned a number of officials accused of corruption referred to the committee and issued penalties against them, the investigation is still ongoing with a number of other officials in a number of Iraqi ministries and institutions.
Regarding what is meant by the code of conduct announced by Saleh, economist Bassem Jamil Antoun told Asharq Al-Awsat that “the code of conduct is a set of points and standards related to the professional behavior of the parties concerned with this matter and which binds themselves to this code.” Regarding how Iraq can move in order to recover its stolen money, Anton says that “efforts are required, both local and international, in order to work on preparing the ground to recover what can be recovered from those funds that were smuggled abroad in one way or another, including: This is the use of Iraq's international relations in this regard, as well as Interpol, as Iraq is a member of this body (the international police) ».
"The money smuggled abroad, part of it goes back to the period of the former Iraqi regime, and the other part goes back to the post-2003 period," Anton said. While the size of the sums that were smuggled before the fall of Saddam Hussein's regime is not known, however, Anton says that “the money that was smuggled after the fall of the former regime is estimated at 250 billion dollars, although there are other numbers that may be much higher than this number, but it may be an exaggeration. ». And on whether it is possible to recover these funds, Anton says that "it is difficult to recover all the smuggled money, but it is possible to recover large quantities of it in various ways and methods." He explained that «there are different ways and methods to recover it, such as the Iraqi embassies abroad, according to the code of conduct that will be prepared in this regard, as well as the possibility of seeking help from countries or companies in countries where the largest amount of smuggled money is counted, and thus appropriate plans are put in this regard».
Among what the legal expert, Antoon, proposes to retrieve these funds or part of them, is "an agreement with specialized companies in exchange for a percentage of the money that is recovered, in addition to the method of spying on smugglers in unforeseen ways. It is also possible to negotiate with the thieves themselves sometimes" to return what they stole.
According to the estimates of officials and experts, the total income of the Iraqi state’s treasury after 2003 and until today is more than a trillion and 200 billion dollars, which are the funds resulting from the net proceeds of exported Iraqi oil, as well as the grants and financial aid that Iraq obtained from countries and companies. Despite these enormous funds, the poverty rate in the country is still high, as well as the lack of real change in the infrastructure throughout the country.

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Analyst and economic expert Hammam Al-Shamaa affirmed, today, Wednesday, that Iraq is able to recover its stolen money, provided the political will is present.

"It is possible to recover the money if there is a real political will and legal and financial cadres capable of working to recover it," Al-Shamaa said during his speech to Alsumaria News.

He explained, "It is difficult to know the exact size of the looted money, but there are estimates indicating that its size is around 300 billion dollars, and it may be more than that because the thieves have invested that money in real estate or other projects."
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Iraqi President: Preparing a legal code to recover the stolen money

Iraqi President: Preparing a legal code to recover the stolen money
The Iraqi President, Barham Salih - Archives
 

Mubasher: The Iraqi President, Barham Salih, said that the file of corruption is serious and huge and in need of broader and deeper treatments, but with all these challenges there were courts working on cases related to corruption.

The President of the Republic revealed, in a televised interview on "Sky News Arabia", that he is now going to finalize a legal code on which he will be discussed with the House of Representatives; To put in place mechanisms to recover money stolen from Iraq, which may have gone to capitals abroad.

Saleh explained that the upcoming elections are important, pivotal, and foundational for a new phase. Because the current situation cannot continue, stressing that the integrity of the elections and giving the Iraqi citizen confidence in the electoral process is very important.

He continued: "Consensus on a project of a capable and capable state to impose law on everyone, and capable of protecting the country's sovereignty must be the basis of the national project and the solution, and Iraqis with their various components look to this as the basis of the solution to overcome the crises of the past."

Saleh noted that the current system of government does not meet the requirements of the Iraqis and has a structural defect, and there is a need for a national dialogue that examines the defects in internal politics and relations with neighbors, adding: "The Iraqis deserve a better life and representation in governance."

On the level of the relationship with the Kurdistan region, the President of the Republic indicated that there is a defect in the relationship between Baghdad and Erbil, and the relationship must be put in its correct basis, and each party must know its rights and duties through a national dialogue that everyone sits in to discuss it, as the citizen in Basra is no longer satisfied with this system, Likewise, the citizen in the Kurdistan region is not satisfied with this system.

As for the foreign forces in Iraq, Saleh stressed that Baghdad's relationship with the United States is important and essential and is based on common interests, and the strategic dialogue between the two sides addresses all political, economic, cultural and security issues, and there is a decision to end the presence of American and foreign combat forces, pointing out that the number of American forces now is not It exceeds 2,500 elements.

The President of the Republic stressed that the conditions of the region will not be correct except in an independent and sovereign Iraq without tutelage from any party.

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WoW... Trying to recover between $300 and $500 billions of stolen money.

 

Iraq is rich very rich 

 

Iraq is ten times richest than Kuwait

 

Go RV

Go 2021

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Iraq is moving to recover looted antiquities and seized funds

 
 Baghdad: Morning
 
Justice Minister Judge Salar Abdul Sattar discussed with the American and French sides the possibility of restoring Iraq to seized sums of money in addition to looted antiquities.
Abdul Sattar received the French ambassador to the country, Bruno Hubert, and the consul, Luc Spebbrook, to discuss the possibility of cooperation between the two countries in the judicial aspects.
Different ».
He talked about “the constant endeavors to sign a memorandum of understanding or cooperation in legal fields, and the exchange of experiences 
Justice between Iraq and France, in addition to discussing the possibility of the French government releasing sums of money withheld from it that belong to Iraq, especially since there is a decision issued by the UN Security Council to release them, calling on them to actually start the procedures for lifting the seizure. 
about her".
In a previous meeting with Al-Sabah, the Integrity Commission disclosed in 2019 that Iraq was seeking to obtain funds worth more than $ 87 billion, which is an initial estimate owed by 55 countries that it had contracted with before its occupation of Kuwait in 1990. 
On a related level, the minister discussed with the American ambassador in Baghdad Matthew Tueller the importance of joint cooperation between the two countries to strengthen the human rights system and the justice sector. 
Iraqi ».
Iraq succeeded in recovering nearly half of the antiquities that were looted during and after the year 2003, with the help of several foreign governments, while the Ministry of Culture and Antiquities estimated the number of stolen and escaped contents of the Iraqi Museum in Baghdad at 15 thousand pieces. 
Antique.
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Iraq is discussing with Switzerland the issue of frozen funds and investment cooperation files

Iraq is discussing with Switzerland the issue of frozen funds and investment cooperation files
Part of the meeting with the Iraqi Prime Minister, Vice President of the Swiss Confederation Ignazio Cassis
 

Mubasher: Iraqi Foreign Minister Fuad Hussein said, in a press conference held with the Foreign Minister, Vice President of the Swiss Confederation Ignazio Cassis, who is visiting Iraq: "We discussed immigration issues at the Swiss and European levels and a solution for refugees or asylum seekers."

The Iraqi Foreign Minister added, "We also discussed the issue of Iraqi funds frozen in Swiss banks," referring to the signing of a memorandum of understanding between the two countries that includes financial and humanitarian issues.

For his part, Swiss Minister Cassis said that his visit to Baghdad came as part of a tour that also includes Jordan and Lebanon, with the same goals aimed at strengthening the correct relations between our countries and restoring stability to the region.

 

In another meeting, Mustafa Al-Kazemi, the Iraqi Prime Minister, discussed with the Vice President of the Swiss Confederation the steps to reopening the Swiss embassy in Baghdad, ways of joint cooperation and bilateral relations between Iraq and Switzerland and the prospects for strengthening them in a way that serves common interests, according to a statement by the media office of the Prime Minister.

During the meeting, they discussed ways to enhance economic development and foreign investment in Iraq, and Switzerland's support for the steps taken by the Iraqi government in this aspect, which confirms a wider participation of the private sector and creates investment opportunities and promising jobs in the Iraqi labor market, according to the Media Office of the Prime Minister.

The media office of the Iraqi Prime Minister indicated that Al-Kazemi's meeting with the Swiss official discussed cooperation in the humanitarian field with regard to the issue of the displaced and returning them to their areas of residence, in order to enhance the efforts aimed at overcoming the effects of terrorism.

For his part, the Vice President of the Swiss Confederation praised the role that Iraq plays in building bridges of confidence in the region, which is an important role for achieving regional stability in the region and promoting peace and prosperity in it, according to the statement.

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Return the frozen funds and diversify the environment of the Iraqi economy

 

 

 Baghdad: Shukran Al-Fatlawi
 
 
A member of the Administrative Board of the Economists Association, Dr. Ikram Abdul Aziz that the state’s directive to retrieve frozen funds is a positive step towards employing these funds in paths that contribute to the diversification of the Iraqi economic environment.
In her speech to Al-Sabah, Al-Aqeel emphasized, "The necessity for there to be a trend to support structural investment projects that simulate progress like other countries of the world and in various fields, including employing manpower and using environmentally friendly technology."

Productive sectors

She pointed to "the importance of dismantling the unilateral ring of the oil sector and achieving real revenues through the activation of the various productive sectors and at various levels, and the use of part of them for the development of industrial infrastructure in particular, as well as the agricultural and service sectors."
According to experts, the Iraqi government is seeking to retrieve the frozen Iraqi funds abroad during the time of the previous regime, especially the funds frozen by international sanctions, as well as the money that escaped due to corruption, but these efforts collide with various regulatory and legal obstacles.
 
Frozen money
Iraqi Foreign Minister Fuad Hussein, and in a recent press conference with Foreign Minister Vice President of the Swiss Confederation Ignazio Cassis, who is visiting Iraq: “We discussed the issue of Iraqi funds frozen in Swiss banks,” referring to the signing of a memorandum of understanding between the two countries that includes financial and humanitarian issues.
For his part, Swiss Minister Cassis said, "His visit to Baghdad was part of a tour that also includes Jordan and Lebanon, with the same goals aimed at strengthening the correct relations between our countries and restoring stability to the region."
 
cooperation
In another meeting, Prime Minister Mustafa Al-Kazemi discussed with the Vice President of the Swiss Confederation the steps to reopening the Swiss embassy in Baghdad, ways of joint cooperation and bilateral relations between Iraq and Switzerland and prospects for strengthening them in a way that serves common interests, according to a statement by the media office of the Prime Minister.
During the meeting, they discussed ways to enhance economic development and foreign investment in Iraq, and Switzerland's support for the steps taken by the Iraqi government in this aspect, which confirms a wider participation of the private sector and creates investment opportunities and promising jobs in the Iraqi labor market, according to the Media Office of the Prime Minister.
It is noteworthy that the smuggled funds, according to deputies, amount to about (500) billion dollars, and that these funds work in the economies of countries smuggled to them and have great financial returns.
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The Iraqi Foreign Ministry said that it recovered 24 million dollars from Germany, in light of its efforts to recover Iraqi funds abroad.

According to a statement published by the Iraqi News Agency "INA", Ahmed Al-Sahhaf, a spokesman for the Iraqi Foreign Ministry, confirmed that "there is a movement to recover Iraqi funds abroad, and the ministry has recovered 24 million dollars from Germany."

 

The spokesman for the Iraqi Ministry of Foreign Affairs wished to reach "clear results in the file of Iraqi real estate abroad, to ensure their safety and security, as well as confirm their ownership of Iraq."

Al-Sahhaf pointed out that there is joint work between Iraqi companies commissioned by the ministry and Iraqi embassies in all countries of the world, to follow up the file of Iraqi funds abroad.

The Iraqi parliament revealed, late last March, the size of Iraq's property abroad, indicating that some of them had been sold illegally, as Taha Al-Dafa'i, a member of the Integrity Committee in the Iraqi Parliament, confirmed that “Iraq's properties abroad are large and their prices are high. In various countries of the world, such as Britain, France, and Switzerland, and in most European and Arab countries, it is unfortunate that it is not followed up, as there are properties belonging to the Ministry of Finance and others to trade and education in addition to the rest of the ministries.

On the nature of these properties, a member of the Iraqi Integrity Committee said: "Some of Iraq's properties abroad are palaces in the French city of Cannes, which are considered one of the most beautiful regions and their prices are fantastic, but they are abandoned, neglected and not invested, including tea, tobacco and rice plantations in many countries such as Vietnam and Singapore." , Confirming that it belongs to the Iraqi Ministry of Trade, revealing "information indicating that these farms were being exploited and sold illegally."

 

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Foreign Ministry: Iraq supports dialogue tracks in the region and the movement to recover funds abroad

upload_1619771311_1690585096.jpeg
 Political

 

  •  Today, 11:25
 

BAGHDAD -
The Ministry of Foreign Affairs confirmed, today, Friday, that Iraq is making great efforts to restore its regional and global role, and while Baghdad renewed its support for dialogue tracks in the region, it indicated its continued follow-up to the file of Iraqi funds and real estate abroad.
Ministry spokesman Ahmed Al-Sahhaf told the Iraqi News Agency (INA): “Iraq is making great efforts to coordinate with all its friends around the world to reserve international positions, and this is important because it will re-position Iraq within the various international organizations in the world, and it will also restore Iraq’s opportunity. By taking decision in more than one important department related to human rights, the United Nations and human rights organizations. "
Iraqi Politics
He added that "the Iraqi foreign policy pursues a vision of focusing balance and stability, and it relies on peace and abides by all international agreements, as the balanced role of Iraq with all parties at the regional and global levels represents an opportunity to take control of matters and initiatives that would restore Iraq to coordinate regional interactions at the level of Region and international interactions. "
International support for Iraq and
affirmed that "Iraq received international and regional support in its war against ISIS terrorist gangs, and today it is in the role of the diplomatic movement, initiator and actor, which establishes balance and stability at the regional level."
Striving for stability in the region and
pointed out that "the Iraqi foreign policy is working to support the paths of dialogue between the parties at the regional level, believing that these interactions will lead to the consolidation of stability at the regional level, and all of this will be reflected in Iraq."
He explained that “the concept of security is organic and cannot be divided,” indicating that “sustaining coordination with all parties and relying on dialogue mechanisms and agreeing on the rules of common interest is the means to defuse crises, reduce escalation and depend on the new phase that calls for empowerment and integration for the development of the peoples of the region.”
Activating the joint committees and
pointing out that "the ministry is now at the bilateral level, working hard to activate the work of the joint Iraqi committees with all the partners of Iraq," noting that "meetings are daily in the specialized departments in the ministry to push for the work of the joint committees."
He continued: "This will be through following up the memoranda concluded between Iraq and its friends, as well as following up the outcomes of the meetings and building on a speech that secures political, security, economic and development paths in which there are multiple fields, which confirms the role of Iraq with its partners and re-follows up seriously in order to achieve more realistic programs.
He pointed out that "Iraqi diplomacy is opening up to the Iraqi street and is responsible for responding to it."
Regarding Iraqi funds abroad, Al-Sahhaf said: "There is a movement to recover Iraqi funds abroad, and the ministry has recovered 24 million dollars from Germany, and we hope that we will reach clear results with the file of Iraqi real estate abroad and to ensure their safety and security, as well as confirm their ownership of Iraq." 
He pointed out that "Iraqi companies by the ministry are working with Iraqi embassies in all countries of the world to follow up the file of Iraqi funds abroad."

 
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The Ministry of Foreign Affairs confirmed today, Friday, that it has recovered 24 million dollars from Germany of Iraqi funds abroad.

"There is a movement to recover Iraqi funds abroad," the ministry's spokesman, Ahmed Al-Sahhaf, said in statements followed by Alsumaria News, indicating that "the ministry recovered 24 million dollars from Germany."

He added, "We hope that we will reach clear results in the file of Iraqi real estate abroad, and to ensure their safety and security, as well as confirm their ownership of Iraq."
 
 
He pointed out that "Iraqi companies by the ministry are working with Iraqi embassies in all countries of the world to follow up the file of Iraqi funds abroad.
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Official: The Presidency is coordinating with the Iraqi Parliament to amend the Smuggled Money Recovery Act

Official: The Presidency is coordinating with the Iraqi Parliament to amend the Smuggled Money Recovery Act
Expressive image
 

Mubasher: Ismail Al-Hadidi, advisor to the Iraqi president, Barham Salih, confirmed that there is parliamentary presidential coordination to amend the Smuggled Money Recovery Act.

Ismail Al-Hadidi indicated, in a statement to the Iraqi News Agency, "INA", today, Friday, that there are ongoing procedures, work and coordination with Parliament, and meetings with the Parliamentary Legal and Financial Committees, to amend the law of recovering smuggled funds.

Al-Hadidi added that Parliament expressed its readiness, response and acceptance to amend the law, to recover all smuggled Iraqi funds, expecting that the law will be amended and voted on by Parliament "soon".

He explained that the law includes how to recover the money smuggled from abroad, stressing the need for foreign support for the file, because most of the smuggled money is outside Iraq, and therefore there is a need for international solidarity.

Earlier, a spokesman for the Ministry of Foreign Affairs, Ahmed Al-Sahaf, stated that there was a movement to recover Iraqi funds abroad, and that the ministry had recovered 24 million dollars from Germany.

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April 30, 2021
 
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And brother of Baghdad

"The legal expert, Ali Al-Tamimi, said today, Friday, about the legal mechanisms to recover smuggled money and international action to solve the economic crisis in accordance with international law."

Al-Tamimi said in a legal opinion that was singled out by the “Haber Press” agency, there is a money laundering agreement for the year 2005 related to the retrieval of smuggled money in accordance with articles 55 and 56 of which there are fees for the recovery of these funds. Iraq signed in 2007 by Law 35 of 2007, indicating that “the value of money Contraband is estimated at 500 billion dollars.

He pointed out that "the US Federal Bank has $ 65 billion belonging to the former regime, and it is the property of the Iraqi people that Iraq can claim in accordance with Article 28 of the Iraqi-American Strategic Agreement for the year 2008, which allows Iraq to request economic aid from America."

He explained that “Article 50 of the United Nations Charter, states that are fighting parties under Chapter VII may request economic assistance from the Security Council, and Britain and France have declared their willingness to help,” noting that “Iraq has fought ISIS, which is placed under Chapter VII under Resolution 2170 of the Security Council.”

He added that "Iraq is still under Chapter VI of the United Nations Charter because of the existence of financial belongings with Kuwait, worth 4 and a half billion dollars, and if the political, security and economic crises continue, the Security Council in Iraq may return to the international trusteeship, that is, Chapter Seven of the United Nations Charter."

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