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Sun. PM KTFA News Articles 11-20-22

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Samson » November 20th, 2022

Experts: Iraq loses 2.5 billion dollars a month because of the holidays

20th November, 2022

The network of field advisors estimated, on Sunday, that Iraq loses about $2.5 billion a month due to official holidays

Network member Qahtan Al-Hasso said, in a statement reported by the official newspaper, thatIraq is at the forefront of countries that disrupt the official working hours of the private and public sectors on various national and religious occasions and for various reasons,” noting that “these holidays are causing a clear recession on the one hand, and a significant decline in the educational level.” On the other hand, not to mention the delay in several important projects in reconstruction and development

Al-Hasso added, “Some countries, such as Sweden, are given nine days annually, while in Germany it is between 10 and 13 days, depending on the state, and in Spain it is 14 days, while Jordan has 15 days off, and Egypt has 16 days a year,” noting that “Iraqi events add holidays.” Sudden, often imposed by security, political or religious situations

He pointed out that “economists estimated vacation losses for a full month at more than two and a half billion dollars, if the average employee salary is calculated at 500 dollars per month at least depending on the number of employees in Iraq, 5 million employees in various sectors of the country, according to the readings of some institutions.” competent research

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He explained that “the abundance of holidays and official and unofficial religious events not only affects the economy, but also affects all facilities of life, especially study and scientific sobriety,” assuming 52 weeks in the year, “which includes two days of each week as a holiday, so the total number of holidays on Fridays and Saturdays is 104.” days a year, to which 18 official occasions are added, which is equivalent to 36 vacation days a year, by calculating the dropout of employees and students a day before or after the holiday

And Al-Hasso indicated that “there is a system followed by the Iraqis (between the two holidays is a holiday) that is within the 18 days, and on this basis we are talking about more than (176) days of vacation, noting that they are holidays that do not include personal leaves for illness, travel or childbirth, and in isolation about the days of religious events and others known as consensual, as the government announces the holidays for the two holidays for a full week to be in line with the two sects and their vision of the crescent LINK

Iraq ranks globally in the “bribery” risk index

20th November, 2022

Iraq ranked 163 globally in the 2022 edition of the annual bribery risk index prepared and issued by the international organization (TRACE) specialized in monitoring and combating corruption in all its forms in the fields of finance and business.

According to the table prepared by the organization, “Iraq ranked 163 globally out of 194 countries included in it,” noting that “Iraq occupied the same position for the second year in a row.”

According to the index data, “Iraq scored an average of 68 points for the following areas: Opportunities: the risks of bribery arising from the interaction between companies and the government (74 points), deterrence and law enforcement: measures that deter bribery and the extent of their application (75 points) and transparency: the extent of transparency at the government level (73 points). Supervision and oversight came: the ability of civil society to supervise and follow up (46 points).

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And in the Arab world, according to the organization, Iraq ranked 12th after Jordan, which ranked first with the least Arab countries in the risk of bribery and 65th globally, Tunisia second and 76th globally, the UAE third and 79th globally, Kuwait fourth and 111th globally, and Oman fifth and 128th globally. Lebanon sixth and 130th in the world, Morocco seventh and 140th in the world. Qatar came eighth and 149th globally, Sudan came ninth and 150th globally, Saudi Arabia came tenth and 157th globally, Egypt came eleventh and 161st globally, and Iraq came twelfth and ranked 163 worldwide.

The first ten places in the world with the lowest risk of bribery were taken by Norway, New Zealand, Sweden, Switzerland, Denmark, the United Kingdom, Australia, Finland, Japan and Canada, respectively. 

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Hamza Al-Jawahiry : The thieves of public money .. enjoy influence and must be sentenced to the most severe penalties

20th November, 2022

The oil expert, Hamza Al-Jawahiry, affirmed: The thieves of public money enjoy influence, and they must be sentenced to the maximum penalties.

He told the National Iraqi News Agency : It is not enough to issue prison sentences against those who are found guilty of stealing public money and then smuggling it, pointing out the importance of the verdict also covering everyone who stands behind them, who helps them and covers them up, and who participated with them in concealing their crimes as quickly as possible.

He stressed: The implementation of the rulings with these people is a good start for fighting corruption, and the concerned agencies should expedite the arrest of the thieves of public money and not leave them free to move freely and enjoy influence and the power of stolen money.  LINK

Source: Dinar Recaps


Samson » November 20th, 2022

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Tomorrow.. The launch of the Iraq Building and Construction Exhibition, with wide international participation

20th November, 2022

An Iraqi company specialized in organizing international exhibitions announced, on Sunday, the completion of preparations for the launch of the Iraq Building, Construction and Infrastructure Exhibition on the Baghdad exhibition grounds, with the participation of more than 130 Iraqi, Arab and foreign companies.

“The exhibition will start tomorrow, Monday, from the 21st to the 24th of this month, with the participation of more than 130 companies specialized in the field of construction, construction,” said the director of “Al Sorouh” company, Muhammad Salman Al-Enezi, to Shafaq News agency.

And that “the exhibition will witness the display of everything related to building materials, decorations, modern construction technology, consultations, energy systems, machinery, industrial machinery, cement and concrete products, interior design services, and building and construction tools and supplies.”

Al-Enezi pointed out, “The importance of holding such exhibitions, to support the state’s sectors and the exchange of experiences and modern technology, in a way that contributes to the establishment of investment projects that serve the country in the fields of construction, construction and infrastructure.”

He pointed out that “the participating companies compete through the products they offer that form the cornerstone of developing the infrastructure needed by the local market.”  LINK

A parliamentarian accuses private banks of smuggling currency and money laundering

19th November, 20224

Saturday, the deputy of the State of Law coalition, Jassem Atwan, accused private banks of smuggling currency and money laundering in the previous period, calling on the new government to control the doors of currency smuggling out of Iraq.

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Atwan said in an interview with “The Information”, that “the currency smuggling file is controlled by the 75 private banks,” stressing that “the improvement in the economic file starts from controlling the currency smuggling file in order to ensure an increase in the state’s foreign reserves.”

And he continued, “There are illegal practices that occurred in the recent period from private banks, through which currency was smuggled and money laundered.”

He added, “Some private banks are working to weaken the value of the Iraqi dinar in order not to increase the cash reserves of foreign currency,” noting that “the continuation of currency smuggling threatens the cash reserves and opens new doors for corruption that cannot be controlled in the future.”

And earlier, the economic expert, Abd al-Rahman al-Mashhadani, said in an interview with Al-Maalouma, that “the Iraqi Central Bank selling huge numbers of dollars daily is very suspicious compared to the volume of Iraqi imports,” stressing that “the only beneficiary from selling such numbers reached 200 million dollars a day are the private banks that benefit 20 cents from the dollar and one.  LINK

Source: Dinar Recaps

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