Monday, November 4, 2024
The Iraqi Bank for Trade signs a contract with the “My Account Project” to localize the salaries of the region’s employees, 4 NOV
Shafaq News / The Iraqi Bank for Trade announced on Sunday the signing of an accounting project contract for the Emiratization of the salaries of the region’s employees between the bank and the Kurdistan Regional Government of Iraq.
A statement from the bank said that this contract came “according to the decisions of the Federal Supreme Court and based on the directives of Prime Minister Mohammed Shia Al-Sudani on the need for the participation of the Iraqi Trade Bank in the process of localizing the salaries of our people from the employees of the Kurdistan Region of Iraq.”
The “Hebe” project allows the employee the freedom to choose the bank in which he wishes to open his account, but in the “Emiratization” project, a specific bank for the employee is determined by an agreement between the ministry, the accounting unit and the bank.
Six private banks participate in the “Hesabi” project, while 5 public banks belonging to the state and 38 private banks participate in the “Emiratization” project.
TIDBIT FROM WALKINGSTICK, 5 NOV
Walkingstick
These [new exchange] centers were established because many Iraqi banks inside of Iraq were operating and acting outside of the CBI laws. So Sudani shut them [bad banks] down
...Sudani all of a sudden started to reopen most, if not all, of his banks that he had shut down.
Why? Because he controls the monetary reform. Sudani is the boss of the monetary reform with no interference from thievery, profiteering from political people like it always was.
Iraq’s long-awaited census to shape Iraq’s future development plans, 5 NOV
Iraq’s long-awaited census to shape Iraq’s future development plans
Shafaq News/ The Iraqi government has announced plans to conduct the country’s first general population and housing census in 27 years on November 20, 2024.
The last census in 1997 recorded a population of 22.33 million, while the Ministry of Planning estimated the 2022 population at around 42 million, with an annual growth rate of 2.5%. For the first time, the census will employ technology for data collection.
The long-awaited census is considered by experts necessary for the success of Iraq’s five-year development plan since it will provide accurate data to shape a comprehensive, sustainable strategy centered on the private sector.
Enumeration and Survey Process
The Ministry of Planning confirmed that preparations for the census are ongoing, with the process now entering the final stages. The current phase, which began on September 1, focuses on the enumeration and survey of all households, buildings, and facilities across Iraq. The process will continue for two months, during which all family members in the country will also be counted.
Abdul Zahra Al-Hindawi, the Ministry of Planning spokesperson, noted that “the enumeration and survey process was delayed in the Kurdistan Region due to the involvement of teachers in second-round exams, which delayed their participation in training sessions.” The process will begin in the Kurdistan Region on September 16, 2024, and will conclude on the same date as in other Iraqi provinces.
Al-Hindawi described this phase as the “backbone of the general census,” involving 40,000 field researchers across all governorates except the Kurdistan Region. Another 80,000 researchers will be trained by mid-October, bringing the total number to 120,000. All census operations will be conducted electronically.
“Preliminary results will be announced within 24 hours of the census’s completion, detailing the population of Iraq and its governorates, as well as a breakdown of males and females. Full census data will be released within two months.”
Impact on Development
Economic expert Abdul Rahman Al-Sheikhli pointed out that the data collected will be very important to the government’s five-year development plan, which began in 2024 and is set to conclude in 2028. “The plan will only succeed with accurate data to design a sustainable, comprehensive strategy that takes into account the resources needed to serve Iraq’s economy,” Al-Sheikhli said, adding that “the future plan would rely heavily on the private sector, with a reduced role for the public sector to meet administrative needs.”
“The census forms include 11 detailed sections, to be filled electronically, providing a clear picture of Iraq’s population and housing conditions. However, displaced persons and refugees will not be included in the count.” He explained.
Economic expert Karim Al-Hello agreed with Al-Sheikhli on the importance of the population census.
Speaking to Shafaq News, Al-Hello explained that “the census is remarkable across all economic, political, and cultural aspects, among others, due to the lack of comprehensive statistics in the country. Accurate data on the population and housing will reveal many critical insights and help identify the needs of the country accordingly.”
Concerns Over Costs
Economic researcher Abdul Salam Hassan Hussein raised concerns about the estimated costs of the census, which are projected to reach billions of dollars. Hussein likened the potential for corruption in the census process to the 2022 tax trust embezzlement case involving Noor Zuhair, commonly referred to as the “Theft Of The Century.”
Hussein questioned the necessity of the high expenses, arguing that “millions of Iraqis living abroad make it unlikely that the census will fully succeed…the government could have conducted the census during elections or through public employees and schools, reducing the costs significantly.”
Shafaq.com
TIDBIT FROM WOLVERINE, 5 NOV
Wolverine
[via Judy Byington]
I can tell you with 100% assurance that things are moving. This is our week. One of the seven big leaders of this movement told me this morning that it was happening this week, probably at least by Friday 8 Nov. 2024.
Shiite faction: Iraqi government will not allow Iran to use its territory to target Israel, 5 NOV
Shiite faction: Iraqi government will not allow Iran to use its territory to target Israel
Shafaq News / The “Ansar Allah Al-Awfiya” movement, affiliated with the “Islamic resistance factions in Iraq”, confirmed on Monday that the Iraqi government will not allow Iran to use Iraqi territory as a starting point for any attack against Israel.
The leader of the movement, Ali Al-Fatlawi, told Shafaq News that “American reports on the existence of Iranian intention to use Iraqi territory as its starting point to attack Israel, carry several messages, including that they want to give a justification that Iraq will be a corridor for attacks, as it allowed the Zionist entity to do so, and it also wants to give Israel an excuse to strike Iraq because the attacks were launched from within its territory.”
Al-Fatlawi stressed that “Iraq certainly does not allow its territory to be a starting point for any attacks in the region, not for Iran or others, and Iran has no intention at all, especially since the missile force it has is able to reach Tel Aviv and achieve targets directly, so the American reports are an attempt to mix the cards.”
The American Wall Street Journal reported on Monday that Iran had informed Arab countries of its intention to carry out a “strong and complex” attack against Israel, in response to the recent Israeli attack that killed four Iranian soldiers and a civilian.
“Our military has lost people, so we need to respond,” the newspaper quoted an Iranian official as saying, noting that Iran may use Iraqi territory as part of the operation and is likely to target Israeli military facilities “but more aggressively than the previous time.”
According to the Wall Street Journal, the Iranian response plot to Israel includes stronger warheads and other weapons, and that it may target Israeli military facilities more aggressively than the previous time.
Does the dinar still have a contract rate if we exchange at redemption centers? BY MARKZ, ,4 NO
EXCERPTS FROM MARKZ
Member: Does the dinar still have a contract rate if we exchange at redemption centers?
MZ: Half my sources say yes….half my sources say no. But most think it will still be a preferential rate at Redeeming banks.
Member: plus other important things such as the redemption centers have trained people for this RV…plus delarue machines, security ect…..I would never walk into a teller at a bank for the street rate…
Member: If currencies go in baskets…how long will it take the other baskets to go.
MZ: I am told after the first basket…there will not be another and all the rest of the currencies will go individually as each one of the countries or nations is prepared and ready.
Prime Minister: The necessity of strengthening Iraq's position to be at the forefront of the region's countries in the technological aspect, 4 NOV
Prime Minister: The necessity of strengthening Iraq's position to be at the forefront of the region's countries in the technological aspect
Prime Minister Mohammed Shia al-Sudani stressed, on Sunday, the necessity of strengthening Iraq's position to be at the forefront of the countries of the region in the technological aspect.
The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia Al-Sudani chaired the second meeting of the Supreme Committee for Artificial Intelligence."
He added that "Al-Sudani listened, at the beginning of the meeting, to the government plans related to developing aspects related to artificial intelligence for employees, educational and educational sectors, and the agriculture and water resources sector, in addition to reviewing the legislative policy; in order to prepare a draft law regulating the work of artificial intelligence applications."
He continued that "Al-Sudani reviewed the details and proposals related to introducing the subject of computers and artificial intelligence into the curricula of the Ministry of Education in the next academic year, stressing the need for every school to have a smart screen and an internet connection to establish a special laboratory for artificial intelligence, stressing the need to strengthen Iraq's position to be at the forefront of the countries of the region in the technological aspect, with its various capabilities and potentials in this field."
He explained that "Al-Sudani agreed to launch an initiative aimed at attracting competencies from abroad in the public and private sectors, including leaders and employees, by training 100 digital leaders as a first stage, and informing them of the latest experiences in this field, under the supervision of international experts, in order to create and implement policies in order to raise the quality of services provided to citizens." link
" The ones I feel absolutely concrete certain on are the dinar, dong, Indonesian rupiah going in the first basket" BY MARKZ, 4 NOV
EXCERPTS FROM MARKZ
Member: is there a up to date on what currencies are in which basket or at least what is first basket?
Member: Old list: 1. US 2. UK 3. Kuwait 4. Canada 5. Mexico 6. Russia 7. China 8. Venezuela 9. Iranian Rial 10. IRAQ 11. Indonesia Rupiah 12. Malaysia 13. Vietnamese 14. Brazil 15. Saudi Arabia 16. Qatar 17. United Arab Emirates 18. Turkey 19. Afghanistan possibly20. India 21. Libya 22. Japan23. Zimbabwe
MZ: The ones I feel absolutely concrete certain on are the dinar, dong, Indonesian rupiah going in the first basket…I feel confident the Zim will go because of humanitarian dollars…...the rest are a crap shoot. We will see.
BANK STORY FROM MARKZ CHAT , 4 NOV
EXCERPTS FROM MARKZ: BANK STORY
Member: BANK STORY
–I went to my bank …..not branch I usually go to and I said to teller the new notes look cool don’t they he said yes they do
…I said they are supposed to come out in NOV ….yes he said…..we talked about the notes for a min and I asked him if he has seen them physically he said no…..
I asked if he knew when in Nov they come ….he started to act uncomfortable and said no
Al-Sudani receives a memorandum of understanding to establish a higher ministerial council between Iraq and the Netherlands, 4 NOV
Al-Sudani receives a memorandum of understanding to establish a higher ministerial council between Iraq and the Netherlands
Prime Minister Mohammed Shia al-Sudani received, on Monday, a memorandum of understanding to establish a higher ministerial council between Iraq and the Netherlands for governmental cooperation in all fields.
Al-Sudani's office stated in a statement received by Shafaq News Agency that the latter received the new Dutch Ambassador to Iraq, Janet Alberda, and congratulated her on assuming her duties in Iraq, stressing the importance of strengthening bilateral relations in various fields, and working to develop them, in a way that achieves mutual benefit and common interests.
Al-Sudani received a draft memorandum of understanding to establish the Supreme Ministerial Council between the governments of Iraq and the Netherlands, for the purpose of working on ministerial cooperation in all fields, in addition to discussing the issue of the withdrawal of the coalition and entering into bilateral relations between the two countries.
During the meeting, the situation and developments in Lebanon and Gaza were discussed, and the importance of seeking to stop the war and deliver relief supplies to the affected areas and those afflicted by the aggression was emphasized link
Extension of the legislative term of the Iraqi parliament for an additional month to pass laws, 4 NOV
Extension of the legislative term of the Iraqi parliament for an additional month to pass laws
Member of the Parliamentary Legal Committee, Mohammed Al-Khafaji, revealed on Monday that the current legislative session of the Council of Representatives ends on the 9th of this month, and that extending it for another month is subject to Article 58 of the Iraqi Constitution.
He added in a statement to Shafaq News Agency that according to this article, the legislative term can be extended at the request of the President of the Republic, the Prime Minister, the Speaker of the House of Representatives, or 50 representatives, provided that the extension is approved by a vote of the majority of the members of the House.
Al-Khafaji explained that there is a trend to extend the legislative session from November 9 to December 9, in order to organize the work of Parliament and approve pending laws, as the past period witnessed repeated postponements in the Council’s sessions and the incomplete agenda.
Al-Khafaji pointed out that the extension will provide an additional opportunity for the government to submit the draft general budget law for 2025, which is supposed to be submitted before the end of this year. He stressed the importance of the government taking advantage of this time to avoid the delay that the budget witnessed this year. link
The Special Representative of the Secretary-General of the United Nations arrives in Najaf to meet with Mr. Sistani, 4 NOV
The Special Representative of the Secretary-General of the United Nations arrives in Najaf to meet with Mr. Sistani
The Special Representative of the Secretary-General of the United Nations, Mohammed Al-Hassan, arrived in Najaf today, Monday, to meet with the Grand Ayatollah, Sayyid Al-Sistani.
The UN Secretary-General had earlier announced the appointment of Mohammed Al-Hassan as his new Special Representative in Iraq and Head of the United Nations Assistance Mission in Iraq (UNAMI), succeeding his former Special Representative, Jeanine Hennis-Plasschaert. link
Coffee with MarkZ. 11/04/2024
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Monday Morning. Fingers crossed this is our week.
MZ: This is going to be a big week with most eyes on the election …. I am still hearing that things may kick off late on Tuesday or early on Wednesday on the RV front.
Meber: I am worried that several states say they will not have mail in ballot counted for several weeks? I wonder if this delays the RV?
MZ: I do not have any bond facilitators receive their 1% over the weekend. Huge expectations for right after the elections.
MZ: There is a lot of news out of Iraq: “Warnings of higher gold and dollar prices in Iraq” then another article saying the opposite. This is the same ping pong of articles that we saw in Kuwait before their revaluation. In the same day you will see many competing articles and Iraq is playing the game like they did in Kuwait…and what they did in China before their revaluation.
MZ: “The governor of the Central Bank of Iraq meets the employees of the Erbil branch” This is like all the Fed. Reserve offices in the US meeting. This is a meeting between the Kurdish region and Baghdad region. This is part of HCL. I am very encouraged by the progress on that front. They will be on the same page for exchanges and digital banking.
MZ: “Deputy: Smuggling of oil derivatives has shrunk by 80% in Iraq” This is also about the pending approval of the HCL. It is also about securing the borders. I think it is huge. They are securing the financial borders in Iraq. I was always told this would occur right before the revaluation.
MZ: “Extension of the legislative term of the Iraqi Parliament for an additional month to approve laws” I think this is a big one. I very much believe they have extended Parliament for two reasons. The full adoption of the HCL and a revaluation of the dinar. That is what I believe.
MZ: So parliament extends its session for a month……This along with the comment from Sudani in Iraq that they would be done with the financial reforms by Victory day –which is December 10th. I am very excited about timing and seeing this article.
Member: Iraq's progress is as impressive as America's Founding in 1770s ...
MZ: “Iraq will not allow Iran to use its territories in targeting Israel” This may be important for the coming hours.
Member: Mark, could the dinar go first than a couple of hours later the dong and so on? That way the dinar went by itself.
Member: At this point anything could happen…..prepare for the worst and hope for the best.
Member: BANK STORY –I went to my bank …..not branch I usually go to and I said to teller the new notes look cool don’t they he said yes they do …I said they are supposed to come out in NOV ….yes he said…..we talked about the notes for a min and I asked him if he has seen them physically he said no….. I asked if he knew when in Nov they come ….he started to act uncomfortable and said no
Member: last night on fearless Floyd I found out that they are going to take 80% of all foreign currency leaving you with only 20%. has anyone heard this yet?
MZ: I have not heard that from a single one of my sources. Zero, Zilch None. It makes no sense And ZERO of my sources believe you will get a 1 to 1 rate on the zim….not a one. But best to be prepared wither way.
Member: Fearless Floyd was also saying he's 90% sure it will go today.
Member: Jeff Ram came on Floyd last night he has a whale that HAS LIQUID money in his account and accessible.
Member: we all need to remember there are so many sources of funds to be distributed and some many different sources of information feeding info out the info there should be some conflicting reports.
Member: is there a up to date on what currencies are in which basket or at least what is first basket?
Member: Old list: 1. US 2. UK 3. Kuwait 4. Canada 5. Mexico 6. Russia 7. China 8. Venezuela 9. Iranian Rial 10. IRAQ 11. Indonesia Rupiah 12. Malaysia 13. Vietnamese 14. Brazil 15. Saudi Arabia 16. Qatar 17. United Arab Emirates 18. Turkey 19. Afghanistan possibly20. India 21. Libya 22. Japan23. Zimbabwe
MZ: The ones I feel absolutely concrete certain on are the dinar, dong, Indonesian rupiah going in the first basket…I feel confident the Zim will go because of humanitarian dollars…...the rest are a crap shoot. We will see.
Member: Praying the Bolivar end up being one of the ones to go for sure.
Member: Does the dinar still have a contract rate if we exchange at redemption centers?
MZ: Half my sources say yes….half my sources say no. But most think it will still be a preferential rate at Redeeming banks.
Member: plus other important things such as the redemption centers have trained people for this RV…plus delarue machines, security ect…..I would never walk into a teller at a bank for the street rate…
Member: If currencies go in baskets…how long will it take the other baskets to go.
MZ: I am told after the first basket…there will not be another and all the rest of the currencies will go individually as each one of the countries or nations is prepared and ready.
Member: Just be prepared for civil unrest and maybe the power and water going out…fill your bathtubs
Member: water in bathtubs? some one help me understand this? bottled water isn't enough?!
Member: A bathtub full of clean water can be used for many things. A bucket full to flush the toilet, water for pets & cleaning, extra to boil for cooking etc.
Member: Would rather be prepared and not need it….then something bad happens and need it but don’t have it.
Member: Would be great month for RV with Thanksgiving coming up.
Member: I have a high expectations for good things to happen this week
Member: Prayers tonight at 6PM for our nation and God's will be done!!!!!
Member: I just want to say thank you Mods, Mark, and Friends here...big gratitude.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
Sudani and Mashhadani stress the importance of cooperation between the legislative and executive authorities , 4 NOV
Sudani and Mashhadani stress the importance of cooperation between the legislative and executive authorities
Political | 06:12 - 03/11/2024 Mawazine News - Baghdad Prime Minister Mohammed Shia al-Sudani and Parliament Speaker Mahmoud al-Mashhadani stressed on Sunday the importance of cooperation between the legislative and executive authorities.
According to a statement by his office received by "Mawazine News", that "Prime Minister Mohamed Shia Sudani, met on Sunday, Speaker of the House of Representatives Mahmoud Al-Mashhadani." Al-Sudani extended his congratulations to Al-Mashhadani on the occasion of his election as Speaker of the House of Representatives, stressing that "the achievement of this important constitutional entitlement enhances political and social stability, and consolidates the democratic choice of all political forces."
The Prime Minister stressed "the importance of cooperation between the executive and legislative authorities, and integration in their work in order to complete the requirements of the government program, in a way that contributes to meeting the aspirations of our people in various fields."
Governor of the Central Bank of Iraq meets with employees of the Erbil branch , 4 NOV
Governor of the Central Bank of Iraq meets with employees of the Erbil branch
November 03, 2024
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, visited the bank's branch in Erbil.
His Excellency the Governor inspected some departments in the branch building, where he was briefed on the progress of their work and the achievements of the branch.
His Excellency the Governor directed the need for cooperation and work on stimulating financial policies to advance the banking sector and the services provided by banks to citizens, in addition to making observations on the need to intensify efforts to enhance the capabilities of banking work.
His Excellency urged the branch employees to provide the best banking services to the residents of the geographical area supervised by the branch, directing the need to strengthen the supervisory and regulatory position of the Central Bank over banks operating in the Kurdistan Region of Iraq.
Central Bank of Iraq
Media Office
November 3, 2024 LINK
FIREFLY: THE HCL WILL BE APPROVED ON OR BEFORE THE END OF THIS YEAR, 4 NOV
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: On television they're saying the HCL will be approved on or before the end of this year. They're saying the budget investment side also will be revealed before the end of this year. And all that must happen first before the new 2025 budget can go to parliament in early 2025.
FRANK: Do you have more confidence in me...? Are you now on my side when I tell you this year not next year?
FIREFLY: Yes, we more than understand.
“A Fraudulent Maze” Reveals “Thorny” Files That Swallow The Pockets Of Iraqis, 4 NOV
“A Fraudulent Maze” Reveals “Thorny” Files That Swallow The Pockets Of Iraqis
Posted on 2024-11-01 by sotaliraq An informed government source revealed a financial corruption file related to the collection of energy consumption fees from hotels, malls, and other commercial and entertainment complexes in the capital, Baghdad, where billions of dinars are wasted monthly through “administrative loopholes,” stressing that the Ministry of Electricity discovered one of those files during the past month.
The source reviewed documents related to the latest file discovered by the Ministry of Electricity, confirming that it is “one example of other files in the same regard,” but he stipulated that the documents not be published for special reasons.
Whales And Big Heads”
In detail, he says, “Financial corruption in collecting electricity consumption fees is very large, and those involved are big heads and whales supported by political parties. However, it is through a chain that begins with small employees, but these are a front for those who are bigger than them, and if one of the files is revealed in some way, these people are the scapegoats, but with administrative penalties that are not commensurate with the size of the corruption,” he said.
He explains, “The recent corruption file in the collection of wages, after it was exposed by a member of the House of Representatives, caused the officials in the Ministry of Electricity to be embarrassed and it was necessary to take action to cover up the matter, so penalties were issued by dismissal from office and transfer from one department to another, while it is a file of embezzlement or at the very least a waste of public money that is supposed to be referred to the Integrity Commission for adjudication.”
The government source provides an introduction to how to calculate electricity consumption fees according to what was approved by the government of former Prime Minister Haider al-Abadi, explaining, “Consumption fees were divided into five categories: domestic, commercial, industrial, agricultural, and governmental. Each category has its own fees, the lowest of which is the cost of domestic consumption, which is divided into four categories:
the first category is 10 dinars per unit (the unit is the amount of consumption measurement), the second category is 35 dinars (i.e. if the home consumes more than one consumption unit), the third category is 80 dinars (the home consumes three consumption units), and the fourth category is 120 dinars (the home consumes four consumption units).”
The source commented on this by saying, “Whoever thinks that electricity consumption fees in Iraq are low is mistaken. In fact, they are among the high fees, if not the highest, in the countries of the region.
A family that operates three or four cooling devices in the summer earns no less than 200 thousand dinars per month. However, at the peak of the heat, or when using multiple heating devices or an electric cooker, the fees double, but people do not know this, and therefore many families are surprised by high fees in areas and residential complexes that do not rely on electric generators.”
Infallible” From Consumption Fees
Returning to the recent corruption file, the source explains, “The events of the file are taking place in the General Company for Electricity Distribution in Baghdad/Rusafa Electricity Distribution Branch, as some hotels that fall within the commercial consumption section have not paid electricity fees for years, but the fees of one of them were settled fraudulently.”
He continued, “A famous hotel in the Karrada area in the center of the capital, Baghdad, paid its consumption fees in a proper manner, but what happened and was discovered later was that the fees paid by the hotel management were registered in the name of another hotel only one kilometer away from the paid hotel, whose management was surprised by a new consumption list that came to it and included previous debts that it had already paid, but they were registered in the name of the other hotel.”
He points out that “all hotels in Baghdad are owned by a mix of the government and investors, meaning that they are private hotels and the government has a limited share in them, and their electricity consumption costs billions,” as he described it.
The source indicates that the file and the documents that I have reviewed also include “one of the malls in central Baghdad that was registered as a disabled account, or as they call it functionally in the Ministry of Electricity (3 nines), which means that a technical error occurred by the data entry employee during the (punching and transferring) process, which is the process of recording data for the household, commercial, industrial, agricultural or governmental unit, other than what is in the basic database kept by the Baghdad Electricity Distribution Company, and thus there is a conflict in the data and the recording of consumption fees for this account is stopped.”
Repairing a malfunction is very easy, especially if the database is available and saved, but the problem is that this repair, which is supposed to take only minutes, hours or even days, takes months and years, and therefore the owner of the disabled account does not pay any fees during this period, and when it is discovered by an official or a supervisory body, the concerned body, represented by the Baghdad Rusafa or Karkh Company or the Ministry of Electricity, does what is called a (settlement) and forms a committee, or even the sales department manager assumes an estimated number for consumption fees, which are usually in the billions of dinars, but the settlement is made with a few million dinars and the matter ends, if it is discovered.”
After this maze of numbers, fraudulent methods and manipulation of the state’s capabilities and financial revenues, which the current government is trying to maximize and diversify to get rid of “oil slavery”, especially after it reached dangerous stages for nearly ten years due to the dangerous fluctuation in oil prices due to global crises, such that between one year and another or between one government and another, warnings appear that the Iraqi state will be unable to pay the salaries of employees, retirees and beneficiaries of social welfare. After the above, it is necessary to take a deep breath before diving into other details of this file.
Negative Debt
The source says, “There is something called negative debt, and this not only exempts its owners from paying consumption fees, but it also means that the state is the one paying on their behalf. 414 lists of negative debts were discovered,” and the agency is withholding mentioning to whom these lists belong.
The source explains, “The negative debt is that a citizen receives a consumption list for 50 thousand dinars, so he goes and pays it, but the data entry employee makes a mistake and writes 150 thousand dinars instead of 50 thousand dinars during the punching and transfer process, and when it reaches the main database in the company, it is indicated that there is 100 thousand dinars in excess of the account.”
He added, “Therefore, the state is required to pay this citizen this amount, so the settlement is made so that the citizen does not pay the wages until the amount of 100 thousand dinars is received, while the citizen did not pay this amount in the first place, nor did the employee who made the mistake receive an additional amount.”
The source explains, “The game is not about the ordinary citizen, the owner of a simple shop or household consumption, but rather it is related to the owners of commercial, industrial and agricultural accounts. Their consumption fees are in the billions of dinars. One of them may have a consumption fee of 10 million dinars, so he pays a million dinars in wages and a million dinars in bribes, and the employee makes a mistake and adds a zero to the ten million dinars by mistake, so this consumer has paid the ministry 100 million dinars, and thus the state owes him 90 million dinars.”
The Company That “Punctured” The State
The source discusses another aspect of the file that was recently discovered and is related to one of the “privatization” companies to which the state has become indebted for financial dues for four years without this company performing any service or work or even spending a single dinar other than the bribe amount for the concerned official.
He explains, “The sales department manager signed a joint receipt with the company to deliver the electricity network and subscribers in one of the residential areas before obtaining the necessary approvals or even informing the branch of the Rusafa Distribution Company of the contract, which means that the company has become responsible for collecting electricity consumption fees before obtaining official authorization to do so.”
He added, “The Rusafa Distribution Company branch did not sign the contract until four years after that, and at that time the National Company demanded from the Rusafa branch its share of the consumption fees for the past four years, even though it did not provide any services and did not even collect the consumption fees, since the collection of fees was done by the Rusafa branch, as is customary in this residential area.”
He points out that “the company not only did not provide any services, but the state is now indebted to the company for its shares stipulated according to the hypothetical contract, meaning that the state is obligated to pay profits to this company that did not spend a single dinar except for the bribe amount to the bribed director.”
It is worth noting that the Federal Financial Supervision Bureau issued a report on March 19, 2019, revealing that three companies are supervising the process of collecting electricity fees on the Rusafa side, and owe 49 billion dinars to the Ministry of Electricity.
The court said that “Al-Noor Al-Thaqib Company implemented the service and collection contract in 21 neighborhoods distributed over three areas: Zayouna, Palestine Street, and Al-Ghadeer.
Al-Rafidain Space Company implemented the service and collection contract in 42 neighborhoods distributed over the areas of Al-Rusafa Center, Al-Sulaikh, and Al-Krayat, while Ahl Al-Wasal Company implemented the service and collection contract in 15 neighborhoods, specifically in the areas of Al-A’dhamiyah and Cairo, as well as Nakheel Middle East Company in 51 neighborhoods distributed over the areas of Al-Karrada, New Baghdad, Diyala Bridge, and Al-Zafaraniya.”
The report indicated that “the investing companies did not commit to obtaining an investment license according to the letter of the National Investment Authority, and the contracts concluded with the Ministry of Electricity did not include a penalty clause in the event that the investment companies were late in issuing the investment license.”
He pointed out that “Al-Rafidain Space Company achieved financial revenues for the months of November and December 2017, amounting to 305.5 million dinars, noting that its contract with the Ministry of Electricity obligates it to achieve 8 billion dinars per month.”
According to the report, “citizens’ payment indicators ranged between 0-54%, which requires the Electricity Directorate to urge investing companies to increase payment indicators in order to achieve financial amounts that contribute to maximizing financial resources.”
The report confirmed that “the total energy sold to Ahl Al Wasl Company amounted to 16.4 billion dinars, while the debts owed by the company amounted to 6.7 billion dinars, and the debts owed by Nakheel Middle East Company amounted to 36.5 billion dinars, and Al Noor Al Thaqib Company amounted to 5.8 billion dinars.” LINK
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