“Ishtar Gate” clarifies the details of its contract with Al-Rafidain Bank and opens fire on a satellite channel

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In the document, Ishtar drops the lawsuit filed against Al-Rafidain Bank

• Time: 08/09/2022 22:12:54
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Al-Atabi details the Ishtar Gate document entitled (dropping a lawsuit)

• Time: 08/09/2022 23:57:55
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{Local: Al-Furat News} Political analyst Muhannad Al-Atababi prepared the document of the Ishtar Gate Company entitled dropping the lawsuit filed against Al-Rafidain Bank.

 

 Al-Atabi said, in a statement that Al-Furat News received a copy of, that: "What the Ishtar Gate Company exposed in its document titled (dropping a lawsuit) was the most important thing revealed by an edited testimony of financial violations in the Rafidain Bank through its current operator, and the disclosure of a gap Finance in the bank, according to the testimony of the previous administrations of the Ishtar Gate Company.
And he pointed out, "a testimony written within the document that there are (6) trillion electronic loans whose fate no one knows, in addition to exposing the illegal substitution of Rafidain Bank cards with Al-Rasheed Bank cards."
Al-Atabi continued, "The document also revealed a lawsuit involving the Rafidain Bank's inability to meet trillions of dinars in loans, and the presence of lawsuits against Al-Rasheed and Al-Rafidain Bank due to theft or embezzlement of customers' cards."
He noted "

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Judiciary: Recruiting the General Manager of Rafidain Bank in the Ishtar contract and taking measures regarding contracts for electronic payment companies

• Time: 08/10/2022 11:05:48
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{Local: Al Furat News} The Second Karkh Investigation Court, which is concerned with the issues of the Integrity Commission, decided to take legal measures regarding the contracts of electronic payment companies with the Rafidain and Al-Rasheed banks, the Industrial Bank and the Iraqi Trade Bank, in coordination with the Integrity Commission, the Financial Supervision Bureau and the Central Bank.

The judiciary indicated in a statement that "the aforementioned court decided to bring in the general manager of Al-Rafidain Bank, the bank's board of directors and the contract analysis committees for violating the notes of the Financial Supervision Bureau regarding the signing of the Ishtar Gate Company contract."

The media and social networking sites had circulated a document of the judiciary obligating the Rafidain Bank to pay (600) million dollars to the Ishtar Gateway Company for systems and electronic payment services for money; Following the bank's termination of one of the contracts concluded with the company.

The "Ishtar Electronic Payment Company" fined Al-Rafidain State Bank 600 million dollars after filing a lawsuit to the competent court.

For its part, Al-Rafidain Bank said that it had submitted an appeal to the court.

A source in Al-Rafidain Bank revealed that the bank is verifying documents alleging that the Ishtar Gateway Company for Systems and Electronic Payment of Funds has waived the lawsuit filed against the bank.

The source told {Euphrates News}: "So far, the documents that were published yesterday about the company's waiver of the lawsuit against the bank have not been confirmed."
"The verification of the authenticity of the documents is continuing, and the latest details will be announced," he added.

It is noteworthy that Finance Minister Ali Allawi decided on 3/9/2021 to refer the Rafidain Bank director to the investigation and withdraw his hand because of his signature on the “Ishtar Gateway” project for electronic payment, which does not meet the conditions and laws related to contracts.

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Documents .. The judiciary ratifies the waiver by the "Ishtar Gate" in compensation of 600 million dollars from Al-Rafidain

• Time: 08/10/2022 12:57:27
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{Local: Al Furat News} The Commercial Cases Court of First Instance confirmed, on Wednesday, that Ishtar Gate Company waived its right to obtain financial compensation in the amount of 600 million US dollars from Al-Rafidain Bank for the termination of a contract between the two sides on issuing and managing cards for electronic payment and collection.

Earlier today, the Second Karkh Investigation Court, which is concerned with the issues of the Integrity Commission, decided to bring in officials at Al-Rafidain Bank against the background of signing the contract of the Ishtar Gate Company.

The Second Karkh Investigation Court, which is concerned with the issues of the Integrity Commission, decided to take legal measures regarding the contracts of electronic payment companies with the Rafidain and Al-Rasheed banks, the Industrial Bank and the Iraqi Trade Bank, in coordination with the Integrity Commission, the Financial Supervision Bureau and the Central Bank.
In a statement, the judiciary indicated that "the aforementioned court decided to bring in the general manager of Al-Rafidain Bank, the bank's board of directors and the contract analysis committees for violating the notes of the Financial Supervision Bureau regarding the signing of the Ishtar Gate Company contract."

The media and social networking sites had circulated a document of the judiciary obligating the Rafidain Bank to pay (600) million dollars to the Ishtar Gateway Company for systems and electronic payment services for money; Following the bank's termination of one of the contracts concluded with the company.

The "Ishtar Electronic Payment Company" fined Al-Rafidain State Bank 600 million dollars after filing a lawsuit to the competent court.

For its part, Al-Rafidain Bank said that it had submitted an appeal to the court.

A source in Al-Rafidain Bank revealed that the bank is verifying documents alleging that the Ishtar Gateway Company for Systems and Electronic Payment of Funds has waived the lawsuit filed against the bank.

The source told {Euphrates News}: "So far, the documents that were published yesterday about the company's waiver of the lawsuit against the bank have not been confirmed."
"The verification of the authenticity of the documents is continuing, and the latest details will be announced," he added.

It is noteworthy that Finance Minister Ali Allawi decided on 3/9/2021 to refer the Rafidain Bank director to the investigation and withdraw his hand because of his signature on the “Ishtar Gateway” project for electronic payment, which does not meet the conditions and laws related to contracts.

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A legal expert clarifies about the waiver by {Ishtar Gate} of compensation from Al-Rafidain

• Time: 08/10/2022 13:31:05
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{Local: Al Furat News} Legal expert Ali Al-Tamimi explained, on Wednesday, that dropping the Ishtar Gate lawsuit is not through publishing in social media.

Al-Tamimi said in a statement received by {Euphrates News} that “the dropping of the Ishtar Gate lawsuit is not through a publication on social media, but in a supplementary list submitted to the Court of Appeal with a conciliation contract explaining the company’s waiver of the value of the penalty clause and waiver of it by dropping it and cutting the dispute by mutual consent in accordance with Articles 698. of the Civil Code and beyond,” noting that “this does not nullify the criminal cases filed before the Integrity Commission… in terms of investigation and trial because it is related to the public right.” 

From: Raghad Daham 

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Integrity brings in the former director of Al-Rafidain and 23 heads and members of the bank’s committees

08.10.2022 - 16:30

 

Baghdad - people   

The Integrity Commission announced, on Wednesday, the recruitment of the former director of Al-Rafidain Bank and the heads and members of the bank's committees, against the background of the issue of the justified contract with the "Ishtar Gate" company.  

  

 

The authority said in a statement that “Nass” received a copy of it, (August 10, 2022), “A summoning order was issued against the former Rafidain Bank director and 23 directors, heads and members of its committees, as a result of the violations committed in the case of the contract concluded between Rafidain Bank and Ishtar Gateway Company for Systems and Payment Services. e-mail".  

  

The Commission's Investigation Department, while talking about the details of the case that it investigated and referred to the judiciary, reported that the Central Criminal Court Anti-Corruption investigation judge issued a summons order against the former General Manager of Rafidain Bank (chairman of the review and approval committee), and 7 of the Board of Directors. And 6 members of the Bid Analysis Committee, according to the statement.  

  

And the department continued, "The recruitment order issued, according to the provisions of Article (340), also included 4 from the review and approval committee for the referral, the director of the legal department, and 6 from the draft contract preparation committee."  

  

The statement concluded, "The authority revealed last Monday that it had completed its investigation and audit procedures that led to referring the case to the judiciary, to issue the appropriate judicial decision, as it pointed out that there were irregularities in the contract that caused its passage, and obligating the Rafidain Bank to pay (600) million dollars to the portal company." Ashtar for systems and electronic payment services for funds, following the bank's termination of the contract with the company.  

  

The "Ishtar Gate" company, earlier, approved the waiver of the penal condition imposed on the Rafidain Bank.  

  

A document obtained by "Nass" (August 10, 2022), showed the "Ishtar Gate" company waiving the penal condition imposed on the Rafidain Bank, while the court decided to accept the request to waive the ruling.    

  

  

  

Earlier, the Karkh Investigation Court had taken legal measures regarding the contracts of electronic payment companies.  

  

And the judiciary’s media stated in a statement that “Nass” received (August 10, 2022), a copy of it, that “the second Karkh investigation court, which is concerned with the issues of the Integrity Commission, decided to take legal measures regarding the contracts of electronic payment companies with the Rafidain, Al-Rasheed, Industrial Bank, and Trade Bank of Iraq.” In coordination with the Integrity Commission, the Financial Supervision Bureau and the Central Bank.    

  

The judiciary statement indicated that "the aforementioned court decided to bring in the general manager of Al-Rafidain Bank, the bank's board of directors and the contract analysis committees for violating the notes of the Financial Supervision Bureau regarding the signing of the Ishtar Gate Company contract."    

  

And Ishtar Gate Systems Company announced that it pledges to drop the lawsuit against the Rafidain Bank, and to void the fine against the bank without any condition.  

  

The company explained in a letter addressed to the director of Rafidain Bank, a copy of which was received by “Nas” (August 9, 2022), that “the agreement on the penalty clause at its current value was in the event of intentional termination or breach of the terms of the contract, and we confirm that the company’s goal will not be the amount and it has not been fulfilled.” Receiving one dinar from this case and we have no need for it."      

  

And she indicated, "The main reason for the penalty clause is the fear of losing investments and fear of intimidating the bank's management from companies that intend to monopolize the market to stop the continuity of the contract, meaning that the amount was nothing but a protection for the company."      

  

  

  

  

Earlier, a high-ranking banking source revealed new details about the $600 million fine imposed on Al-Rafidain Bank, which sparked popular interaction and indignation at the size of the huge fine.  

  

The source said in a statement carried by the official Iraqi News Agency and followed by "Nass" (August 9, 2022), that "on March 4, 2021, Al-Rafidain Bank signed a contract with an Iraqi local company (Ishtar Gate) regarding the implementation of the (electronic payment service) project, which Among the rest of the details, it included the deployment of 10,000 electronic payment machines (ATMs), the issuance of electronic cards to depositors, and other services.        

  

He added, "The bank manager and his committee did not return, to ascertain the opinion of the Ministry of Finance, according to the correct legal procedures," noting that "Finance studied the details of the contract after reviewing it, and found in it a clear prejudice to the rights of depositors and the interest of the treasury and public money. illegal, as well as suspicions about the local company itself and its level of performance."        

  

And he continued, "The Minister of Finance urgently referred the matter to the Prime Minister, who is the chief executive officer responsible for the general policy of the state, and it is not his duties or the duties of his office to audit every contract concluded by one of the Iraqi state institutions, and the Prime Minister only directed a minister The Finance Ministry should continue to protect public funds and implement the law at all costs, and to stop this financial stipend that passed like a corrupt conspiracy under the title, (service contract).        

  

He explained, "The Minister of Finance suspended, according to the law, the general manager of the bank, suspended his powers, and referred him to an investigative committee, and then referred the contract to the concerned oversight, in order to put (in a legal and not emotional way) the points in which the contract unfairly affects the right of public money, including the imposition of a penalty clause (un) legal), if the Rafidain Bank unilaterally stopped the contract.        

  

And he stated, "The penalty clause was illegal because it exceeds (according to the concept of Iraqi law) the ceiling of damage caused to the company (if it had been inflicted with actual damage). This means that a fine of $600 million is tens of times greater than any damage that may befall a company. Ishtar Gate As a result of the bank’s suspension of the contract, which originally suffers from a legal imbalance, and because the intention is premeditated, the Ishtar Gate company resorted to the judiciary, and on May 4th issued a warning to the Ministry of Finance and to the bank that it would demand the penalty clause (600 million dollars).”        

  

He cautioned that "on August 3, the supervisory report was issued, which indicates dozens of places in the aforementioned contract, which clearly violate the instructions of the Central Bank of Iraq, and the instructions of the Ministry of Finance, and seriously harm public funds and depositors' money, but Ishtar Gateway Company proceeded with its lawsuit, and a decision was issued. From the Court of First Instance specialized in commercial cases in Rusafa, it shall decide (according to the text of the contract) in favor of the aforementioned company and that the Rafidain Bank shall pay the huge fine.        

  

He pointed out that "the bank did not pay the aforementioned fine, because there is another stage of appeal, and filing the case to a judicial level higher than the level of (a court that specializes in commercial cases), given that there is a pre-intentional semi-intention to harm public money, and the conclusion of a contract in which there is unfairness in the interest of public funds. and depositors’ money, and in fact, it clearly violates dozens of instructions, laws and decisions in force.”        

  

He pointed out that "the Minister of Finance immediately took the initiative to meet with the President of the Judicial Council, Faiq Zaidan, on the seventh of August, to put him in the details of the matter. .        

  

He stated, "The popular interaction with the huge amount of fine has angered the people, and they are right about that, especially at a time when the government is engaged in a delicate and multifaceted operation and confrontations with the corrupt, but the best way to confront these problems is certainly the law, and the government has succeeded." Indeed, by stopping the violation of the law and preventing the exploitation of state resources, the corrupt people who stand behind this contract, whether they are politicians or owners of suspicious capital, will have much more than just a lawsuit that will win its first round as a result of misinformation and deliberate manipulation, and this case will be a clear chapter through which the opinion is known. The year is the extent of the government’s insistence on ending this file, not in the manner of the angry toiling citizen by hanging the accused in Tahrir Square, but by exposing all the parties involved, whether they are large or small.        

  

He added, "The Prime Minister does not have the law to (execute) a citizen, a convicted person, not even a terrorist, under any circumstance. Confronting corruption is a security, legal and legislative confrontation that requires determination, will and support for the rule of law."        

  

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Integrity: Recruiting the former director of Rafidain Bank and 23 chairmen and members of its committees

• Time: 08/10/2022 16:27:45
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{Local: Al Furat News} The Federal Integrity Commission announced the issuance of a summons order against the former director of Rafidain Bank and (23) directors, heads and members of its committees; As a result of the violations committed in the case of the contract between Rafidain Bank and Ishtar Gateway Company for Systems and Electronic Payment Services.

The Commission's Investigation Department, while talking about the details of the case that it investigated and referred it to the judiciary, reported that the Central Criminal Court Anti-Corruption investigation judge had issued a summons order against the former General Manager of Rafidain Bank (chairman of the review and approval committee for the referral), and (7) From the Board of Directors, and (6) members of the Bid Analysis Committee.

And the department continued, "The recruitment order issued, according to the provisions of Article (340), also included (4) from the review and approval committee for the referral, the director of the legal department, and (6) from the committee for preparing the draft contract."

Last Monday, the commission revealed that it had completed its investigation and audit procedures, which led to the referral of the case to the judiciary. To issue the appropriate judicial decision, as it pointed out that there were violations in the contract that caused its passage, and obligating Al-Rafidain Bank to pay (600) million dollars to the Ishtar Gateway Company for systems and electronic payment services for funds; Following the bank's termination of the contract with the company.

A source told Al Furat News, that the intended director in the Declaration of Integrity is Ali Hussein Muhaisen

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Hanan Al-Fatlawi commented on a question after the resignation of the Minister of Finance

08.16.2022 - 22:18

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Baghdad - people  

On Tuesday, a member of the Iraqi Parliament, Hanan Al-Fatlawi, commented on the resignation of Finance Minister Ali Allawi.  

  

Al-Fatlawi wrote in a blog post, followed by "Nas" (August 16, 2022), "The Minister of Finance in his resignation letter: Here, I hope that the investigative judges in the Ishtar Gate case will follow the threads wherever they go to be a good gesture to restore confidence in the system!"  

Al-Fatlawi asked, "What threads does Allawi mean?"