Thursday, April 11, 2024
Government adviser announces the start of the implementation of the reform plan in government and private banks, 12 APRIL
Economy News – Baghdad
The Prime Minister’s adviser to economic and financial affairs, Mazhar Mohamed Saleh, confirmed on Thursday that Prime Minister Mohammed Shiaa Al-Sudani is interested in reforming the course of the private and government banking system, while noting the start of the implementation of the reform plan for government banks.
Saleh said, in a statement reported by the official news agency, seen by “Economy News”, that “the banking market is a big division, for example, the capital of private banks or their share of capital from the government is about 78 percent, while the capital of government banks are 22 percent.”
“While government banks account for activities and assets by 85 percent, while the private banking activity is 15 percent, so there are large disparities between private and government banks,” he continued.
He explained, “The private banks almost coexisted on government allocations, whether by window or by opening the guarantee writings for projects, in the sense that any vibration exposes private banks to serious problems, so nearly 29 banks have been deprived of dealing in foreign currency.”
Saleh added that “Prime Minister Mohamed Shiaa Al-Sudani is very interested in reforming the course of the civil and government banking system,” stressing “the existence of a reform plan for government banks, and there is a foreign company that evaluates banking work, its capital and functions until they parallel the work of international banks.”
He pointed out that “private banks are facing a dilemma, especially after being denied foreign currency trading, although they have coexisted with this issue, so the government is trying to create a supportive internal environment for them, and it needs to correct their situation first.”
He went on to say that “the Prime Minister is properly supportive of private banks, on the condition that those banks improve their course of work,” stressing that “there is a reform plan to correct the course of private banks will be implemented soon.”
A government source revealed, on Tuesday, that Prime Minister Mohammed Shiaa Al-Sudani issued a number of measures and steps to activate the private banking sector, while directing the study of the possibility of enhancing the needs of branches of private banks abroad in foreign currency.
The source said that “within the framework of the Iraqi government’s equest to devop a strategy that stimulates the activity of the private banking sector during the next phase, allowing it to engage more in efforts to diversify the economy and strengthen its pillars, Prime Minister Mohammed Shiaa directed Sudanese to adopt a number of measures and steps in this regard, including:
1. The Ministerial Council for the Economy to study the proposal to increase deposits to government institutions and the central government with private banks, in order to enable them to provide more banking operations and contribute to the development of various vital sectors and increase their ability to provide various financing services inside and outside Iraq.
2- Supporting the Iraqi government and the Central Bank of Iraq to the Iraqi private banks through external institutions and banks, provided that the credit classification of each bank is taken into account.
3- Studying the possibility of enhancing the needs of branches of private banks abroad in foreign currency for the purposes of financing foreign trade – the private sector and according to the applicable contexts.
4. The Board of Directors of the Central Bank of Iraq determines the contribution of foreign capital in Iraqi banks and evaluates the reality of the situation to benefit the Iraqi economy, in accordance with the Banking Law No. 94 of 2004.
5- Participation of representatives of the private banking sector when discussing relevant issues in all state institutions, including meetings of the Board of Directors of the Central Bank of Iraq.
6- Studying the reactivation of the financing initiative submitted by the Central Bank of Iraq and according to the contexts proposed by the Central Bank in this regard.
7. The Council for Competition Affairs and Prevention of Monopoly shall take what is required under Law No. 14 of 2010 to prevent monopoly in banking services, provided that the Council shall submit reports to the Central Bank of Iraq and in coordination with it periodically and in accordance with the aforementioned law.
https://economy-news.net/content.php?id=42374
"RV UPDATE" BY PIMPY, 12 APRIL
Pimpy
The average dinar holder only holds 250,000 dinars...
Question "Do you think Iraq's government is sovereign?" To some degree yeah, but no.THE SECRET OF THE STRENGTH OF THE KUWAITI DINAR…THE STRONGEST CURRENCY IN THE WORLD, 12 APRIL
THE SECRET OF THE STRENGTH OF THE KUWAITI DINAR…THE STRONGEST CURRENCY IN THE WORLD
Kuwait issued its own currency, which is now considered the strongest in the world, on April 1, 1961. This was before its independence was completed by officially getting rid of British protection on June 19, 1961.
Preparation for the issuance of the first series of the Kuwaiti national currency, the “Dinar,” began with the issuance of the Kuwaiti Currency Law and the establishment of the National Monetary Council in 1960, while the circulation of national currency notes began to replace the previous currency, the “Gulf Rupee,” on April 1, 1961.
The Kuwaiti dinar has maintained its position as the most expensive currency in the world for many years, and its exchange rate against the dollar is currently 1 to 3.25, while one Kuwaiti dinar is equal to 3.03 euros and 2.59 British pounds.
The strength of the Kuwaiti dinar is due to several factors:
1.enormous oil reserves, which the authorities currently estimate at about 100 billion barrels. This country, which is small in area and sparsely populated, occupies third place in terms of oil production in the Gulf region after Saudi Arabia and Iran, in addition to its wealth of natural gas. The quantity produced last year amounted to approximately 5 billion cubic metres.
(In my last Newsletter they told us Iraq is now 2nd in oil production and Saudi Arabia was 1st in the region. So their data for this article is outdated.)
2.Kuwaiti oil is distinguished by its quality, homogeneity, unique chemical composition, and low sulfur content, which is why it is described as the most ideal for refining operations.
3.Kuwait’s richness in oil, in addition to its strategic location, has been reflected in its citizens, and it is considered one of the richest countries in the world in terms of per capita GDP.
4.Kuwait was able to maintain relative stability, and despite the huge material losses that resulted from Iraq’s invasion of it on August 2, 1990 and its occupation of it for nearly 7 months, its national currency did not decline or lose its advantage.
Regarding the history of the Kuwaiti dinar, the exchange rate of the new national currency was initially calculated by focusing on the de facto British pound until the exchange rate of the Kuwaiti national currency was later changed in 1975, when the National Monetary Council took this decision in the wake of the British Bank abandoning the exchange rate. Fixed row for pounds.
Over the next 28 years, the Kuwaiti dinar exchange rate was calculated using a basket of multiple currencies until 2003. Since then, a fixed exchange rate for the dinar against the dollar has been set at a ratio of 1 to 3, with a maximum permissible fluctuation of 3.5 percent.
(Yes, Kuwait took up this fixed peg to the US dollar for favors from the US and to provide military support and protection.)
Four years after this step, Kuwait stopped pegging its national currency to the US dollar and began calculating the dinar’s exchange rate against a basket of currencies that was not disclosed in 2007 .
(The IMF has said that Iraqi will soon stop pegging its national currency to the US dollar on a fixed rate also and plans to begin calculating the dinar’s exchange rate against a basket of currencies and then float it. I believe this will be the same process for Kuwait.)
Until now, the Kuwaiti dinar has a fixed exchange rate that protects it from brokers and speculators, and makes it, along with other economic features, the most expensive and strongest in the world.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/"RV UPDATE" BY MILITIAMAN, 11 APRIL
Militia Man
Remember when you say Iraq was paying for all of their major construction at 1310 you'll see...payments were able to disperse out of the DFI fund...Food, currency exchange programs, electricity, oil infrastructure programs, equipment for Iraqis, equipment for security forces, civil services, salaries, Ministry of budget operations - that's a broad spectrum...
They had a lot of things that they could tap into that oil money revenue stream dollars [DFI}. It wasn't in dinars. Things have changed now...They have a time crunch...Since the DFI has gone into the Iraqi2 Fund you're going to see big changes I'm excited to see...
Article quote "Al Sudani uttered a very important phrase, 'keep the dinar...I bear witness that the Iraqi dinar will return to its lofty economic value as it was'..." Lofty economic value is not 1310. It's not 1159. It's not 1182 or 1160 or any of those number. It's back to previous era like they said.Capital Intelligence rates an Iraqi bank with a stable outlook, 11 APRIL
Capital Intelligence rates an Iraqi bank with a stable outlook
Economy News – Baghdad
The Capital Intelligence Credit Rating Agency confirmed its credit rating of the long-term assets of the Iraqi Islamic Bank for Investment and Development (BIIB), listed on the Iraq Stock Exchange, denominated in foreign currencies, at “B-”, with a stable outlook.
The agency added in a research note on its official website that it maintained the bank’s short-term foreign currency-denominated asset rating (ST FCR) at “B.”
The agency maintained the independent bank’s rating at “b-” with a stable outlook, the fundamental financial strength rating at “bb-” and the exceptional support level at “uncertain.”
The bank’s ratings within the country’s borders also remained at “iqBBB+” for long-term investments and “iqA2” for short-term investments, with a stable outlook.
The bank enjoys a good level of profitability in 9 months of 2023, a strong capital base, and a high level of liquidity supported by the growing customer deposit base and representing credit strength.
On the other hand, the agency pointed to the major credit challenges facing the bank, as is the case with the rest of Iraqi banks, due to the economic and political weaknesses in Iraq despite the current oil prices, as well as the concentration in assets and customer deposits, and the relatively small balance sheet and market share.
In addition, the bank faces high rates of non-performing financing despite the improvement and the weak regulatory and supervisory framework.
Despite the bank’s relatively small balance sheet, it has nevertheless succeeded in expanding assets and customer deposits in recent years, and there remains a significant degree of concentration risk inherent in the balance sheet.
"RV UPDATE" BY MNT GOAT, 11 APRIL
Mnt Goat
We are just waiting for the “giant” leap when the CBI gives them the second rate change. This should bring in much if not all the remaining capital outside the banking system back to the banks that need it desperately for the economy to grow. This second rate change should coincide with the project to delete the zeros.
"WHAT ARE THE NEX STEPS" BY MNT GOAT, 6 APRIL
Mnt Goat
What are the next steps?
We know it is the in-country rate needed to support the Project to Delete the Zeros as the next steps and, by design, it is to retrieve all this stashed currency and get it into the banks from the hordes in the Iraqi homes. Common sense then dictates to us that the only way they will be successful in these next steps is to raise the program rate higher over the dollar to create an incentive for this purpose. This will be the second rate change we have been told would occur and have been waiting for.
But remember that with these next steps, this is still in the “program” rate and for in-country only. We will still NOT be able to exchange our dinars outside Iraq until the reinstatement which follows the Project to Delete the Zeros... there is much work to be done yet before we go off to the bank to exchange...So now, we are just waiting for the “giant” leap when the CBI gives them the second rate change. This should bring in much if not all the remaining currency back to the banks that they need desperately for the economy. This second rate change should coincide with the project to delete the zeros...
https://dinarevaluation.blogspot.com/2024/04/what-are-nex-steps-by-mnt-goat-6-april.html
Al-Sudani says his meeting with Biden is “an opportunity to put the partnership between the two countries on a new basis.”, 11 APRIL
Shafaq News/ Prime Minister Muhammad Shiaa Al-Sudani considered, on Thursday, the meeting that he will have with President Joe Biden during his upcoming visit to the United States of America in mid-April “will be an opportunity to put the American-Iraqi partnership on a new and more sustainable basis.”
This was stated in an article published in “Farn Affairs” magazine, today’s issue.
“Our discussions will emphasize the continuing importance of our economic relations, cooperation in combating money laundering and terrorist financing, and the use of political and diplomatic tools to defuse regional tensions,” he wrote in his article.
He added, “The war against terrorism will remain a central topic for our governments,” adding, “We recognize and appreciate the critical role played by the United States and other members of the international coalition to combat ISIS in defeating terrorism.”
Al-Sudani added: This support has helped Iraq achieve stability, make great strides on the path to democracy, the rule of law, and ensure the government’s monopoly on the use of force.
He continued, “The time is right for our relationship to become broader, while recognizing the growing capabilities of our forces to defend Iraq and ensure the safety of its citizens – and to contribute in essential ways to building a prosperous and stable Iraq.”
The Iraqi Prime Minister concluded his article by saying that the relationship “in its new form, our partnership can represent a source of mutual benefit for both our countries, and a driving force for achieving stability in the Middle East.”
"Iraq boots-on-the-ground report" by FIREFLY, 11 APRIL
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Television is talking about Sudani's trip to Washington. They saying high security and military personnel will accompany him...It looks like we're going to go this time with a completely different exchange rate.
FRANK: My hope and prayer is he will talk to you about your new exchange rate because it is time to do so. He has given you every hint...every scenario...every option of why you're about to have a new value to your currency, about why your currency will be more valuable than the American dollar...I am sitting...in great hope he will make an announcement that will add purchasing power to your currency and then go to Washington with that power representing him as the leader of Iraq, a free sovereign nation and not the loser of a program rate country with sanctions upon him.
Have not seen any of it on the news today about the lower notes that are going to be distributed in May...However there are a lot of rumors saying it was something out here today. We have not seen yet but we are looking...
FRANK: There are many rumors about the monetary reform right now. Yes there seems to be a rumor about the lower notes...let's see what happens this coming week. Let's see how things start to unfold.
FIREFLY: Ramadan is over on the 8th. Then we have EID holiday from the 8th to the 14th and then on the 15th Sudani is supposed to go to Washington D.C...It's time to get a little excited...
FIREFLY: The foreign minister already in USA is a prelude to Sudani grand stand that's coming April 1st, our new fiscal year.
FRANK: So much is now pointing for your 1st quarter. April the 1st or maybe the first week of April especially with Sudani going to see the President of the United States in Washington DC on the 15th of April. It seems to me he's going to go see the president with a new exchange rate under his belt...not the weak leadership of a program rate.
FIREFLY: TV is say when Sudani goes to Washington. OMG that's a long time off. Means nothing changing until after that probably, if it does this year.
FRANK: I don't care if it happens on the 15th of April. I don't care if it happens tomorrow. I just know it's happening with all that we're seeing. The proof is there. There's no doubt about it.
FIREFLY: Tv talked about parliament finance has been meeting...with the CBI officials talking about mechanisms to pay the salaries and all the project we have. This is a good sign. They are meeting right before the budget goes to parliament next week.
FRANK: Firefly knows if it does go to parliament and they vote, it will expose an exchange rate. Certainly not a program rate.
FIREFLY: Talked to bank friend. He told me it seems to be the quiet time but soon news on the amending budget will appear...Nothing will get done, so it's going to be soon. The dropping of the zeros is off the exchange rate...We were told on TV that during next week the 2024 amended budget will arrive at parliament for their vote.
FRANK: Stay very close to your friend because at any moment IMO I believe he'll be able to give you what you're looking for, what they promised you.
https://dinarevaluation.blogspot.com/2024/03/iraq-boots-on-ground-rreport-by-firefly.html
"IMPORTANT IRAQ NEWS:EXPERTS: GOVERNMENT EFFORTS HAVE PLACED IRAQ IN ADVANCED POSITIONS GLOBALLY IN THE FIELD OF FOREIGN INVESTMENTS" BY MNT GOAT, 11 APRIL
EXPERTS: GOVERNMENT EFFORTS HAVE PLACED IRAQ IN ADVANCED POSITIONS GLOBALLY IN THE FIELD OF FOREIGN INVESTMENTS
Experts in economic affairs praised the government’s efforts to encourage investment and Iraq’s obtaining advanced positions in foreign investments, stressing that the government’s vision was reflected in the noticeable improvement in the investment climate in Iraq and the efforts made to strengthen the economic sector and attract more direct foreign investments.
In this regard, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, said: “The Iraqi economy is characterized by two basic features that help give it preference in foreign investment: the first is the cash flows in foreign currency reflected in the current account of the balance of payments relative to the gross domestic product, which the international economic and national centers estimate at a surplus estimated at By about (positive 7%), Iraq also ranks second in OPEC oil production and fifth in the world in that production.”
Yes, Iraq is an attractive environment for investment.
You can read the entire article here. link
"ABOUT THE BRICS" BY GOLDILOCKS, 11 APRIL
GOLDILOCKS
"BRICS refers to certain emerging market countries—Brazil, Russia, India, China, South Africa, and more—that seek to establish deeper ties between member nations and cooperate on economic expansion, including trade. The countries act as a counterbalance to traditional Western influence."
When the BRICS Nations become strong enough to have a trading influence equal to or greater than the Western Culture, there will be bilateral agreements "only" as a reason for us to sign documents in the near term.
This is expected to change in about two decades when the BRICS Nations are expected to be strong enough to overtake the dollar. The transition of the dollar is expected to be a slow process. In the meantime, the Dollar Act is in process of moving through Congress to support this transition.
To have a (digital) currency strong enough to challenge the dollar or equal within its dominance able to level the playing field for the BRICS Nations, they will more than likely have a gold backed digital trading coin that will give them the capacity to do so.
© Goldilocks
https://www.congress.gov/bill/118th-congress/house-bill/556
https://www.investopedia.com/terms/b/brics.asp#:~:text=BRICS%20refers%20to%20certain%20emerging,counterbalance%20to%20traditional%20Western%20influence.
https://issafrica.org/iss-today/brics-and-the-future-of-the-us-dollar#:~:text=BRICS%2B%20will%20probably%20only%20surpass,plunge%20smaller%20economies%20into%20turmoil.
"IMPORTANT IRAQ NEWS:AL-KHAZALI CALLS FOR IRAQ’S FREEDOM TO DISPOSE OF DOLLARS: AMERICA IS NOT KIND TO US AND THIS IS OUR MONEY" BY MNT GOAT, 11 APRIL
AL-KHAZALI CALLS FOR IRAQ’S FREEDOM TO DISPOSE OF DOLLARS: AMERICA IS NOT KIND TO US AND THIS IS OUR MONEY
The Secretary-General of the “Asa’ib Ahl al-Haq” group, Qais Al-Khazali, on Wednesday called on Prime Minister Muhammad Shia’a Al-Sudani to emphasize the issue of Iraq’s freedom to dispose of its US dollar funds during his upcoming visit to the United States of America.
Al-Khazali said in an Eid prayer sermon that he delivered to a gathering of worshipers in Baghdad, “The issue of economic sovereignty, and Iraq’s ownership of its decision-making and sovereignty regarding its disposal of its US dollar funds, is important and complex.”
He added, “America is not favoring us, and this is our money,” stressing the importance of “Iraq having the freedom to dispose of this money according to its interests.”
Al-Khazali continued by saying, “Iraq has demonstrated – despite the unfair, unrealistic and exaggerated conditions set by the US Treasury on disposing of the dollar – great compliance with these conditions,” considering that the United States is trying “to exploit the economic card to maintain the current military status of its forces in Iraq, and this is what we do not accept.”
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/"Q & A" BY MNT GOAT, 11 APRIL
Q & A
Question: Promanjr
Good Day MG, Any update/thoughts on lower denominations release? Thank You.
Mnt Goat Answer: Guten Tag Promanjr. What makes you think the lower denominations have been released? Did I cover this in my Newsletter? Don’t you think I would be jumping all over this if they were, especially in that I make two calls weekly to my CBI contact? Trust me, when this event happens, I will let everyone know just as soon as I know, even if I have to do one of my urgent editions of the Newsletter in my blog. Yes, I know there are some silly intel gurus idiots telling everyone they are released in Kurdistan. How many times have we heard this crap already?
EXPLAINING RECENT VIDEO CALL OF MILITIAMAN VIA BEARDED PATRIOTUSA TELEGRAM CHAT, 11 APRIL
DARTHVADER ACTUAL
https://youtu.be/SjN5Qqwis3U?si=VlYRXk8OZXeZ6Vww&t=2063
OK, FINALLY someone (Militia Man) explains how Iraq has been building and doing all of the things that we in Dinarland have heard gurus say "they can't do that at $1310" So, remember a week or so ago, all the talk about the DFI account being closed - (loosely paraphrasing) š so what the DFI account did for Iraq was an account that the US held for Iraq to deposit revenues for oil sales in US dollars - this allowed them a line of credit to borrow against...
so when the DFI account was closed and EO 13303 has been/will be relinquished- so since the DFI has been closed, oil revenues have been being deposited into an Iraqi account (the Iraqi 2 account) in Dinars. š So what does this mean - Iraq owes the US for all of the money that they have borrowed to rebuild Iraq, MM is saying that it is time for Iraq to pay back this debt and the only way that they can do this is with a new REER ( Real Effective Exchange Rate) "rate" Remember when Trump said that the US would "leave" Iraq when they could pay back all that we have done to help rebuild Iraq (paraphrasing)
š so MM was asked on a YT'rs channel last night if he believes that Sudani would be coming to visit "the president" with the new REER, ( https://youtu.be/JrqefOy85_0 ) and he replied that " I would like to think that he will" š Iraq's EID holiday ends on the 14th, the day before Sudani's visit to the US - the EID holiday is a holiday of giving.
š š š š š š
OK so I don't know about you but I am stressed out about this RV/RI, its been like holding my breath for the last 4 years... ❓ so where are we now... Iraq needs to pay back the š²š² to the US ( Sudani's visit to US) š Sudani is in the US on 4/15 š Sudani makes oath to Iraq (swears to Allah) that Iraq would be restored to its former glory (paraphrasing) IN APRIL š Iraq ascends to WTO on May 5th. (Completion of all their WTO requirements).
š š¤š¤š¤š¤ š¤š °️š¤š¤š¤š¤š¤š °️š¤š¤š¤ but at some time this thing has to go... and all things seem to be pointing to getting the new š š š š š Dinar rate this month....
š¤š¤š¤š¤ š¤š¤š¤š¤
š š š š±
VParliamentary Integrity Demands The Issuance Of The Sharq Charter To Ensure That Iraq’s Money Is Not Plundered, 11 APRIL
Parliamentary Integrity Demands The Issuance Of The Sharq Charter To Ensure That Iraq’s Money Is Not Plundered
Local | 11/04/2024 Mawazine News – Baghdad , a member of the Parliamentary Integrity Committee, Representative Alia Nassif, revealed the involvement of what she called some of Prime Minister Muhammad Shiaa Al-Sudani’s tools in projects to resolve bottlenecks with corruption, while she pointed out that the only solution for Iraq is a “code of honour” whose content is “We will not plunder the state.”
Nassif said during a televised statement followed by Mawazine News: “A general director in the Ministry of Construction and Housing was summoned, and we then focused on the presence of Minister Benkin Rikani as well.
He was interrogated regarding the 14 billion that “Green Tahouat” carried, and his answer was that he disavowed his responsibility for any action after that. The money was delivered to the contractors and the rest of the details are in the judiciary and we are awaiting the results.”
She added, "The two companies (Danube and Emaar Al Badia) are the ones working within Al-Khadraa and the money was going to them, and so far they do not have final accounts. Their capital is 5 billion for each company and they receive projects worth 41 billion. If there is delay, the government will not be able to deal with them."
She continued, “The House of Representatives is relinquishing its supervisory and legislative role, and in every session it suffers a kind of weakness due to political conflicts and interests, and the parliamentary oath is not implemented 100%, and (Cover me and cover you) played a role many times greater.”
She explained, “Parliamentary Integrity is a (prevention) committee. When any file is opened, everyone gets upset, and it is the one that does the most work within Parliament. All the files that reach us are important and belong to influential parties and have a media system, and they all work against the representative who opens their files.”
Nassif explained, “During this session, I have problems with the general director of the Central Refineries. He has a terrible media army and his power is comparable to a minister, and all the general directors have political parties behind them,”
adding that “most of the files that I am committed to in the Integrity Committee, I bear personal responsibility for without relying on the rule of law.” They did not ask me to stop any file, and I bear most of the media and political attacks alone.”
Nassif revealed that there are “two files that we are working on, the first for ports and the second for roads, and they contain inhabited funds, in addition to the ports that contain money laundering, which the state can invest to maximize its reserves if it is controlled,” stressing that “some of the Sudanese tools in our bottleneck relief projects have indicators of corruption.”
It is the one that tampered with contracts , in addition to awarding 3 contracts for huge projects to a Lebanese company banned from operating in Beirut
. Prime Minister Muhammad Shiaa Al-Sudani supported projects to remove bottlenecks due to corruption, while pointing out that the only solution for Iraq is a “code of honour” whose content is “we will not plunder the state.”
Nassif said during a televised statement followed by Mawazine News: “A general director in the Ministry of Construction and Housing was summoned, and we then focused on the presence of Minister Benkin Rikani as well. He was interrogated regarding the 14 billion that “Green Tahouat” carried, and his answer was that he disavowed his responsibility for any action after that. The money was delivered to the contractors and the rest of the details are in the judiciary and we are awaiting the results.”
She added, "The two companies (Danube and Emaar Al Badia) are the ones working within Al-Khadraa and the money was going to them, and so far they do not have final accounts. Their capital is 5 billion for each company and they receive projects worth 41 billion. If there is delay, the government will not be able to deal with them."
She continued, “The House of Representatives is relinquishing its supervisory and legislative role, and in every session it suffers a kind of weakness due to political conflicts and interests, and the parliamentary oath is not implemented 100%, and (Cover me and cover you) played a role many times greater.”
She explained, “Parliamentary Integrity is a (prevention) committee. When any file is opened, everyone gets upset, and it is the one that does the most work within Parliament. All the files that reach us are important and belong to influential parties and have a media system, and they all work against the representative who opens their files.”
Nassif explained, “During this session, I have problems with the general director of the Central Refineries. He has a terrible media army and his power is comparable to a minister, and all the general directors have political parties behind them,”
adding that “most of the files that I am committed to in the Integrity Committee, I bear personal responsibility for without relying on the rule of law.” They did not ask me to stop any file, and I bear most of the media and political attacks alone.”
Nassif revealed that there are “two files that we are working on, the first for ports and the second for roads, and they contain inhabited funds, in addition to the ports that contain money laundering, which the state can invest to maximize its reserves if it is controlled,” stressing that “some of the Sudanese tools in our bottleneck relief projects have indicators of corruption.” She is the one who tampered with contracts, in addition to awarding 3 contracts for huge projects to a Lebanese company banned from operating in Beirut.” https://www.mawazin.net/Details.aspx?jimare=245671
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