“Obstacle Removed” – Mon. PM KTFA Thoughts/News 4-19-21

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KTFA

Samson » April 19th, 2021

Legal expert: Iraq’s exit from the lists of high-risk countries is a big victory

04/19/2021 09:14:35

 The legal expert, Tariq Harb, said today, Monday, that Iraq’s exit from the lists of high-risk countries is a “major political and economic victory” for the government and the Central Bank.

Harb said in a statement that Al-Furat News received a copy of, that “many years have passed on the name of Iraq in the lists of high-risk countries, with the consequences of this staircase of great political and economic implications, perhaps the first and most important of which is the impact on investment and the reluctance of non-Iraqi companies to work. In Iraq, the political and social implications.”

He added, “The Al-Kazemi government and the Central Bank of Iraq have made great efforts, especially in the field of their cooperation, by taking the necessary measures regarding money laundering and terrorist financing.  For a while, Al-Waqi’a Iraq has barely been issued and is devoid of publishing international procedures and decisions, especially those issued by the Special Committee. And associated with the UN Security Council in relation to combating money laundering and terrorist financing and other measures related to seizing the money of those accused of money laundering and terrorist financing, even if they are not Iraqis.”

He continued, “Also, ahigher committee was established in the Central Bank with the mission of combating money laundering and terrorist financing, and these and other measures such as activating the Anti-Money Laundering and Terrorism Financing Law No. 39 of 2015, so Resolution 392 of 2021 was issued including raising the name of Iraq from among the countries with high risks,” The government thus deserved and the Central Bank deserved praise and praise for their efforts in removing Iraq from the lists of high-risk countries.”

It is noteworthy that the Central Bank of Iraq announced, yesterday, Sunday, the lifting of the name of Iraq from the British classification of high risk countries.   LINK

ATPinfinity » April 19th, 2021

THIS IS 24 HOURS AGO NEWS “Central Bank of Iraq announced, yesterday, Sunday,”

“major political and economic victory” for the government and the Central Bank.

“…great political and economic implications, perhaps the first and most important of which is the impact on investment…”

SIGNALLING: OK TO TRADE….SEEMS LIKE A DOOR HAS BEEN OPENED HERE!    OR AN OBSTACLE REMOVED THAT WAS HUGE.  (REQUIREMENT BEFORE OPENING 2021 BUDGET?)

Iobey777 » April 19th, 2021

YES!!! a IMO, also, this is HUGE NEWS for Iraq and for us to be able to exchange!!!  I can hear the FIREWORKS going off now!!!!

Samson » April 19th, 2021

The opening of the headquarters of the Iraqi company to guarantee deposits

04/19/2021 12:56:35

The governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, inaugurated, on Monday, the headquarters of the new Iraqi company to guarantee deposits.

“The company will contribute to restoring confidence in the private banks operating in Iraq,” the governor said in a statement that Al Furat News received, stressing that “the Central Bank will pay attention to this company as it is one of the pillars of the banking business.”

He explained that “the public and private banking sector actively participated in establishing this company to become one of the leading institutions in the banking business and supporting it.”

It is noteworthy that “the Iraqi Deposit Insurance Corporation provides a cover to guarantee public deposits with Iraqi banks licensed by the Central Bank of Iraq inside Iraq, especially small depositors.”

LINK

Iobey777 » April 19th, 2021

IMO… this is another BIG article!!

Samson » April 19th, 2021

Advisor Al-Kazemi .. Floating the currency leads to the collapse of the market and warned against its implementation

19th April, 2021

The Prime Minister’s Adviser for Financial and Economic Affairs, Muhammad Mazhar Saleh, confirmed today, Monday, that it is not permissible to float the currency in Iraq, indicating that this leads to the collapse of the market.

Saleh said that “it is not permissible to float the currency in Iraq because the market will collapse in this case,” indicating that “the entry and exit of hard currency does not enter the market, which is only an outlet for it, but rather the government is the one that brings this hard currency.”

Saleh added, “If the government withdraws its hand, the supply will stop and the demand increases, and therefore the market will collapse.” He pointed out that “the problem in Iraq is that the market is asking and that the state is offering, and in the event that the Central Bank does not sell the dollar, it means that all the supply has stopped and there is no other offer. Because demand will be more than supply.” He stressed that “the state is the bidder in Iraq, and therefore if the state tends to float, this means that there is no supply and thus prices collapse.”

Floating currency is completely liberalizing the exchange rate, so the government or the central bank does not interfere in determining it directly, but rather it is secreted automatically in the currency market through the supply and demand mechanism that allows setting the national currency exchange rate against foreign currencies.

It is noteworthy that some officials talk from time to time on the need to float and liberalize the currency to preserve the hard currency reserves at the Central Bank.     LINK

ATPinfinity » April 19th, 2021

THIS IS THE Old System…old advice..selling the dollar will be obsolete when: DINAR IS INTERNATIONAL..  FLOATING THEN IS NOT CONTRARY!

Floating currency is completely liberalizing the exchange rate, so the government or the central bank does not interfere in determining it directly, but rather it is secreted automatically in the currency market through the supply and demand mechanism that allows setting the national currency exchange rate against foreign currencies.

Clare » April 19th, 2021

FRANK & WS TOLD US…… IT WON’T FLOAT INTERNALLY…. ONLY EXTERNALLY! imo

Samson » April 19th, 2021

Integrity: 58 arrest warrants were issued against a minister, two deputies, and special ranks

19th April 2021

The Federal Integrity Commission announced, on Monday, the entirety of the arrest and recruitment warrants issued against officials during the month of March, indicating that they came against the background of cases and files that it investigated and referred to the judiciary.

In a statement received by Mawazine News / a copy of it, the Investigation Department revealed that “(58) arrest warrants and summoning orders were issued against officials during last March,” noting that “(8) arrest warrants were issued, and (50) summon orders were issued for the period of (1-31/3/2021).

The department explained, “These orders included two members of Parliament (current and former), a former minister, and a former undersecretary.” She added that “the arrest and recruitment orders included a current and a former governor, as well as (25) general directors, including current and former and two qaimaqaman,” pointing out that “22 members of the provincial councils included in these orders.”

And she continued, “(14) those against whom these orders were issued are sureties, at a time when (7) others (fugitives) were registered, one was released during the investigation phase, and one was referred to court, and another person against whom a summoning order was issued by the pardon decision was included.”

Last February, the commission announced the details of its annual report for the year 2020, indicating that it included the issuance of (82) recruitment and arrest warrants against ministers and their rank, while the number of arrest and recruitment orders issued against public directors and special ranks was (624) orders.   LINK

Iraq .. anxious after the anti-corruption hand was released to topple big heads

19th April, 2021

Observers believe that the Prime Minister, Mustafa Al-Kazemi, launched the anti-corruption need to overthrow large heads, after the Anti-Corruption Committee arrested, the day before yesterday, the leader of the Al-Hall Party, Jamal Karbouli.

Al-Arabiya quoted, according to unnamed sources, that “the committee headed by Lieutenant General Ahmed Abu Ragheef obtained a judicial decision to lift the immunity of four parliamentarians, in addition to issuing another list to prevent the travel of a large number of political figures who are suspected of corruption.” Karbouli, who was already arrested, has always been suspicious of and repeatedly accused of corruption by political parties, but despite this, Asharq Al-Awsat sources say, “Many Iraqi parties tried to mediate with him, including those who were considered his opponents.”

This new path that the committee pursued in the arrest of senior officials confused the entire Iraqi political scene, especially since the arrest operation was intended to reflect the government’s seriousness in implementing its promises of reform, as the security forces surrounded al-Karbouli’s house and then arrested him despite the contacts and mediation of Iraqi politicians and leaders.

The corruption that Iraq witnessed is very large, and the money that was wasted ranges between three hundred and four hundred billion dollars, meaning that a large number of Iraqi politicians have already been involved in corruption deals.

Now this committee formed by Prime Minister Mustafa Al-Kazemi, headed by Lieutenant General Abu Ragheef, has apparently begun its work. According to the sources, the matter began at Karbouli and will not end with it.

There are lists that will see the light within days, as “Asharq Al-Awsat” revealed the existence of two lists approved by the judiciary, one of which includes the names of four deputies in order to arrest them and the second includes the names of officials who will be banned from traveling.

According to Al-Sharq al-Awsat and according to the circulating figures, the total income of the Iraqi state’s treasury after 2003 and to this day is about one and a half trillion dollars of which the equivalent of 70 percent has been spent on operating costs and salaries, while 300 to 400 billion dollars are promised by virtue of the money that was wasted due to corruption. 

 According to the latest reports issued by the Iraqi Ministry of Planning, the poverty rate in Iraq has increased significantly in recent times. The percentage, according to the ministry’s report, ranges from 25 to 27 percent.  LINK

Source: Dinar Recaps

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