Iraqi News Highlights Late Tuesday Evening 7-11-23
Tlm724 Administrator Bondlady’s Corner
An Economist Who Explains The Mechanisms Of Supporting The Iraqi Dinar And Reducing The Demand For The Dollar
July 11 Information / Baghdad… Today, Tuesday, the economic expert, Safwan Qusay, explained the mechanisms of supporting the Iraqi dinar and reducing the demand for dollars in the parallel market. Qusay told Al-Maalouma, “The government can support the Iraqi dinar through industry and agriculture, in addition to the possibility of selling oil to certain countries in Iraqi dinars with the knowledge of the US treasury.”
He added, “The approach to this mechanism would allow Iraqi merchants to import from these countries in dinars, and this opens the way for importing foodstuffs, soft drinks, cigarettes, medicines and other commodities, especially to countries that are allowed to sell oil in dinars, such as Jordan and Egypt. In return, merchants direct to import commodities from them in dinars.”
And he indicated that “the aforementioned measures would reduce pressure on the demand for the dollar in the parallel market, as confidence must return to the dinar, in addition to that the Ministry of Finance and the Central Bank have to work jointly.”
Qusai pointed out that “some public spending measures are not commensurate with the central bank’s policy, and vice versa.”
https://almaalomah.me/news/economy/اقتصادي-يوضح-آليات-دعم-الدينار-العراقي-وتقليل-الطلب-على-الدو
An Expert Slaves Any Imminent Decline In The Price Of The Dollar..Why?
Information / special.. Today, Tuesday, the economic expert, Saleh Al-Hashemi, attributed the continued widening of the dollar exchange rate gap between the official and the parallel to the complex financial system adopted by Iraq, while stressing that solutions do not come from the administrative and security side.
Al-Hashemi said in an interview with Al-Maalouma agency, “The government has not controlled the official trade file under the framework of the state until now,” noting that “the problem enables balancing the supply and demand of the dollar in the local markets.”
And he continued, “The government did not work to facilitate the process of buying dollars from the official outlets that were announced,” pointing out that “the difficulty of procedures for purchasing dollars exacerbated cases of corruption and bribes for employees in order to increase the percentage of one party over another due.”
Al-Hashemi concluded, “All the measures that the government has followed will not contribute to reducing the exchange rate gap between the parallel and the official,” calling for “the need to rely on a new financial system that facilitates the process of buying dollars from official outlets, andbalancing between supply and demand in the market.”
Member of the House of Representatives, Intisar Al-Jazaery, confirmed in an interview with Al-Maalouma agency, “The central government has not controlled the currency smuggling file until now, adding that one of the main reasons that led to the rise in dollar prices is the smuggling file outside Iraq.”
The Central Bank of Iraq is conducting a series of measures aimed at controlling the exchange rates of the dollar in the Iraqi markets and preventing smuggling while providing all the political needs of the Iraqi people. https://almaalomah.me/news/economy/خبير-يستعبد-أي-هبوط-قريب-في-سعر-الدولارلماذا
Banning Bank Transfers Crushes Fraudsters And Does Justice To The Needy.. An Expert Details The Positives
Economy |Yesterday, 14:59 |Baghdad today – Kurdistan Economic expert Khaled Haider confirmed today, Tuesday, that the decision of the Iftaa Authority in Kurdistan regarding the movement of bank transfers abroad through bank cards will reduce the momentum on the dollar.
Haider told “Baghdad Today” that “this decision will mitigate the ongoing deception of the dollar by buying large quantities of it at the official price and selling it at the parallel price.”
He added, “The legal sanctity of this process will have very important repercussions in the next stage, as the great demand for dollars will decrease, and this will be reflected in the demand for dollars from the needy only.”
Yesterday, Monday, the Supreme Council for Fatwa in the Kurdistan Region issued a clarification about bank cards and cash transfers with the aim of profiting.
The council said, in a statement received by “Baghdad Today,” that “making bank cards in the name of citizens, transferring money on them, withdrawing them outside the country, and bringing them back into the local markets is a prohibited and illegal process.”
The council attributed the reason for its fatwa, according to the statement, to “the prohibition of deceiving banking procedures, the law, and government instructions,” stressing that
“Muslims must abide by the instructions and conditions set for the transfer of the Iraqi dinar with the US dollar.”
Wholesale corruption” in the Rafidain Bank… the most prominent reasons for overthrowing its administration (documents)
Policy Al-Rafidain Bank 2023-07-09 Shafaq News/ An informed source revealed, on Monday, the reasons for withdrawing the hand of the Director General of the Governmental Rafidain Bank and a number of department managers and bank employees by the Ministry of Finance.
The source told Shafaq News agency, “The current management of Al-Rafidain Bank, which has been withdrawn, is accused of several cases, including causing waste of public money and mismanagement, and making administrative transfers on the basis of nepotism and nepotism away from the standard of competence and integrity, and the rise of unqualified people to assume administrative positions.”
The source also attributed the reasons for withdrawing the hand to “the delay in completing customer transactions and using the position to achieve partisan and personal goals and objectives in order to stay in office for a longer period and challenge the ministry’s decisions.”
The source pointed out that “the dollar case is the most prominent file in financial corruption cases, as preliminary investigations revealed that the current administration, along with some department managers and employees of the bank, embezzled large sums of dollars during the process of selling the currency.”
The source pointed out that “there is an important issue, which is the sale of gold bullion, which is no different from its predecessors in terms of corruption in the dollar file,” explaining that “new names of defendants will be issued in several cases soon.”
The source explained that “the recommendations of the investigation committee, which will be announced soon, will include directing penalties to all the accused, transferring them outside the bank, and appointing a new general manager who is characterized by professionalism, integrity and efficiency.”
And yesterday, Sunday, the Minister of Finance, Taif Sami, decided to withdraw the hand of the director of the Rafidain Bank and more than 20 officials, male and female, and employees.
According to a document signed by the minister, seen by Shafak News Agency, “Based on the provisions of Article 17 of the Law on Disciplining State and Public Sector Employees No. 14 of 1991 as amended, and based on what came in the initial report of the subcommittee No. 1927, which was duly approved and the powers vested in us, it was decided to withdraw the hand of Those whose names are listed below are employees of Al-Rafidain Bank from the job for a period of 60 days, starting from the above date.
The names included the
general manager of the bank, Ali Karim Hussein, the
former director of the risk management department, Anmar Abdel-Razzaq, the
former director of the human resources department, Sana Mazyad Nasser, the
former director of the information technology department, Ahmed Falah Rashid, the
assistant chief craftsman Habib Ahmed Habib, and the
treasurer Azhar Akram Ahmed.
As well as employees Mortada Hashem Falhi, Ban Abdul Ali Ibrahim, Zulfiqar Jabbar Faisal, Ali Abbas Nuri, Youssef Aidan Balm, Haider Abdul Hussein, Mustafa Ali Mahmoud, Issam Hassan Ali, Osama Hammad Abdul, Ahmed Sabah Abdul Wahhab, Mustafa Haider Sahib, and Salman Basil Salman, Mustafa Jamal Sadiq, Karim Adel Karim, and Janan Zamil Zboun.
The order also included “the payment of half their salaries to them throughout the withdrawal period.”
https://shafaq.com/ar/سیاسة/فساد-بالجملة-في-مصرف-الرافدين-برز-سباب-ال-طاحة-ب-دارته-وثا-ق
Al-Awadi: The Money Deposited In The Account Of Iranian Companies At The TBI Bank Will Remain In Iraq
Political Yesterday, Baghdad – conscious Today, Tuesday, the government spokesman, Basem Al-Awadi, confirmed that resolving the issue of importing gas will get Iraq out of a five-year crisis, while noting that the funds deposited in the Iranian companies’ account at the TBI Bank will remain for Iraq.
Al-Awadi said in a statement to Al-Iraqiya News, followed by the Iraqi News Agency (INA):
“The solution to the gas import crisis is a great achievement that will get Iraq out of an accumulated crisis that has continued since 2018,
which is the gas purchase crisis in which the government pays its money to the account of Iranian companies in the TBI Bank, but the bank He cannot transfer money because of the US sanctions on Iran.”
He added, “Last year, electricity production at a time like this was 19.5 thousand megawatts, and the immediate solutions developed by the current government raised production to 25 thousand megawatts.”
And he added, “The agreement included the exchange of Iranian gas for Iraqi black oil,” noting that “the optimal solution to the electricity problem, in the opinion of the prime minister, is the implementation of medium and long-term plans through 3 measures:
the first is agreements with the French company Total through 4 contracts and during 2 or 3 Years will import between 550 to 600 thousand cubic meters of gas, and
the second is the fifth round of licensing in the Basra Gas Company, which has completed the production of 200 million cubic feet, and at the end of the year it will produce another 200 million cubic feet, and
the third: is the linkage with Saudi Arabia, Jordan and the Gulf.
And he indicated, “These solutions will be completed within 2-3 years, and at that time we will have enough gas and we do not need to import it,” explaining,
“The contract with Siemens included the development of the old Iraqi electrical stations over a period of 5 years and returning them to their first production capacity.”
He stressed, “The government aims to reach the rate of electricity production as it was in the month of June, which is 26,000 megawatts, and this is what secures processing hours from 15-16 hours and seeks more than that,” pointing out,
“The electricity crisis has been accumulating for 20 years and is not from The creation of the current government, in addition to the dollar crises and lagging projects.
He pointed out, “After the recent agreement with Iran, the funds deposited in the account of Iranian companies in the TBI Bank will remain for Iraq,” pointing out, “These funds will remain an asset for the Iraqi people and can fill part of the budget deficit.” https://www.ina.iq/189218–.html
Political Current: Corruption In Anbar Is 3 Times More Than The “Theft Of The Century”
Policy |Yesterday, | Baghdad today – Baghdad Today, Tuesday, a political movement counted the extent of corruption in Anbar province as “three times” more than the sums of tax secretariats known as the “theft of the century.”
The head of the Bayariq al-Khair Movement, Muhammad al-Khalidi, told “Baghdad Today,” that:
“What has been revealed so far of major corruption files in Anbar is only a limited part, and what remains is terrifying by virtue of preliminary investigations,” stressing that “the volume of corruption in the language of numbers is equivalent to 3 times The deal of the century.
He added, “Fighting corruption in the districts of Anbar will increase its stability, not the other way around.
The people agree that returning to square one through any political escalation is unacceptable, because everyone understands that security is a red line and there is support for ending financial empires that were established with looted money involving multiple political forces.”
Al-Khalidi pointed out that “what happened in Anbar, in terms of opening very sensitive files, must be transferred to other provinces that are groaning from corruption that is eroding institutions and looting large funds allocated for reconstruction,” pointing out that “it is not reasonable for areas to suffer from poor services despite spending trillions of dinars.””.
He continued, “Any change in any security or government institution is a natural framework that does not mean targeting, especially since all those who have been changed are mainly from the province.”
It is noteworthy that Anbar province, in western Iraq, is witnessing a sharp wave of political disputes, amid an exchange of accusations of corruption, prior to the start of the marathon of the provincial elections, which are scheduled to be held at the end of this year.
Sassa says, “Corruption in Anbar is completely different from the rest of the provinces, because there is unilateralism and domination by a certain party, and exploitation of all institutions, whether security, administrative or financial, for their partisan interest, and not to provide a service to the Anbari citizen, such as seizing plots of land and the money of the displaced and martyrs.” and others, as well as threats and blackmail,” they said.
https://baghdadtoday.news/225945-تيار-سياسي-الفساد-في-الأنبار-يزيد-3-أضعاف-عن-(سرقة-القرن).html
Oil: The Agreement With Iran Will Ensure The Smooth Flow Of Gas And End The Stumbling Block Due To US Sanctions
Economy Yesterday, Baghdad – conscious Today, Tuesday, the Ministry of Oil confirmed that the agreement with Iran will ensure the smooth flow of the supplied gas and end the previous stumbling block due to US sanctions, noting that
its implementation will take place according to an agreed mechanism according to the pricing of global markets, pointing out at the same time that Minister Hayan Abdul Ghani made contacts to accelerate Implementation of the prime minister’s directives for the agreement.
“The agreement with Iran to barter Iranian gas for Iraqi black oil represents one of the most important solutions that the government and the Council of Ministers resorted to to pay dues for the supplied gas,” the ministry’s spokesman, Assem Jihad, told the Iraqi News Agency (INA).
He added, “The agreement will ensure the smooth flow of the supplied gas and end the previous stumbling block due to the US sanctions imposed on Iran, according to which it was agreed on the supply and pricing mechanism approved in the oil markets, and the ministry expressed its willingness to implement the Prime Minister’s directives to ensure the smooth continuation of gas flows.”
He continued, “This step is very important, and the Deputy Prime Minister and Minister of Oil, Hayan Abdul-Ghani, held an immediate meeting and contacts with the concerned agents and managers, and directed to expedite the implementation of the directives of the Prime Minister and the Council of Ministers that were issued today.” https://www.ina.iq/189217–.html
Al-Sudani’s Office: Signing An Agreement Between Iraq And Iran To Barter Imported Gas For Crude Oil
Tammuz 11 21:33 Information / Baghdad… The media office of the Prime Minister announced, on Tuesday, the signing of an agreement between Iraq and Iran to barter imported gas for Iraqi crude oil.
In a statement received by the information office, the media office stated that, “Today, Tuesday, an agreement was signed in Baghdad between the Republic of Iraq and the Islamic Republic of Iran, according to which the imported Iranian gas that operates electric power production stations will be exchanged for Iraqi crude oil and black oil.”
He added, “The agreement was signed on the Iraqi side by the Director of the Office of the Prime Minister, Ihsan Yassin Al-Awadi, while it was signed on the Iranian side by the Ambassador of the Islamic Republic of Iran in Baghdad, Muhammad Kazem Al Sadiq, and the agreement was reached after negotiations that lasted for several days, in which delegations participated.” Technical committees from both sides.
He continued, “This agreement comes within the framework of the government’s effort to address the crisis of supplying gas that powers power stations, and avoid financing problems and the complications of US sanctions that prevented the continuity of payment of import requirements.
The agreement will contribute to providing more flexibility to the process of supplying gas, operating stations, and stabilizing electric power production.”
https://almaalomah.me/news/politics/مكتب-السوداني:-توقيع-اتفاق-بين-العراق-وإيران-لمقايضة-الغاز-ا
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