Integrity Commission Discovers Fraud and Mismanagement of Funds in Iraq, 5 NOV

Integrity Commission Discovers Fraud and Mismanagement of Funds in Iraq

The Integrity Commission in Iraq has unearthed a series of fraudulent activities, seizing documents related to a delayed project costing two billion dinars in the governorate of Diyala. The commission also arrested a man impersonating an official in Baqubah, releasing executive bonds to reviewers.

Irregularities in the Iraqi Oil Tankers Company

In the Iraqi Oil Tankers Company in Basra, the commission identified manipulation in 20 payment documents amounting to 4 billion dinars. The funds were allocated for public service projects as social benefits. However, the investigation team discovered that the Basra Oil Company – Projects Authority didn’t fulfill its financial obligations to an Australian company contracted for an energy escalation project, leading to public fund damage after the Australian firm declared bankruptcy. The commission also found discrepancies in compensation settlements for the West Qurna/1 field, where non-agricultural and fictitious lands were included in the compensation.

Housing Units Distribution Violations

The commission also revealed violations during the distribution of housing units owned by the South Oil Products Distribution Company. Housing units were undeservedly granted to the company’s director-general and several employees. The director had even accommodated his son in a house he received, despite his son not being affiliated with the company.

Anomalies in the General Company for Oil Products Distribution

Furthermore, at the General Company for Oil Products Distribution, the commission discovered two contracts signed this year for transporting oil products for extraction companies. These contracts were signed under “licensing tours” with a private transport company. But, the investigation showed that the General Company for Oil Products Distribution transported products to licensing companies using government vehicles without contracting with private companies.

The cases underline the urgent need for stronger measures to combat corruption and improve financial management within the Iraqi government. While the Integrity Commission’s efforts in exposing irregularities and holding people accountable are notable, they also suggest that systemic changes are necessary to prevent such occurrences in the future. Transparency, accountability, and proper oversight are crucial to ensuring the efficient and effective use of public funds and resources in Iraq.

https://bnn.network/breaking-news/crime/integrity-commission-discovers-fraud-and-mismanagement-of-funds-in-iraq/

Iraqi Dinar Reinstatement Latest Small Category Notes | Dinar Exchange R...

"RV UPDATE" BY CLARE, RAYREN98 & SAMSON, 5 NOV

  Clare 

 Article: "An economic expert told Nina: Preventing the withdrawal of dollars in Erbil via ATM, i.e., an automated teller machine, is a health measure”  Quote:  "He stressed that this measure will contribute to the elimination of parallel markets and parallel exchange rates, the end of the state of dollarization, and the trend towards an automatic increase in the value of the Iraqi dinar."

RayRen98  

 SOME CURRENCY REGULATOR TYPES ARE "AGAIN" SHOWING UP EARLY TO WORK TONIGHT... WORKING THE NIGHT SHIFT, LOOKING FOR SOMETHING TO HAPPEN. TIME WILL TELL.

Samson   

Article:   "The Iraqi Central Bank is moving towards the US Federal Reserve to increase its dollar transfers"

 Article:  "Iraq launches Visa Direct service to combat corruption, illicit funding"

  Article:  "It will securely accept faster and easier money transfers electronically. The Central Bank officiallylaunches the "Visa Direct" service"

US Secretary of State Antony Blinken Rejects Cease-fire Request in Gaza, 5 NOV

 US Secretary of State Antony Blinken Rejects Cease-fire Request in Gaza, 5 NOV

US Secretary of State Antony Blinken has rejected Palestinian President Mahmoud Abbas’s plea for a cease-fire in the Gaza Strip during a meeting held in Ramallah. Blinken reaffirmed Israel’s right to self-defense and continuation of its military campaign in Gaza. He, however, committed to exerting pressure on Israel to avoid civilian casualties and to provide safe passageways for humanitarian aid.

Blinken’s Stance on the Israel-Hamas Conflict

The ongoing conflict between Israel and Hamas has resulted in the death of 9,770 Palestinians and more than 1,400 Israelis. Arab leaders are urging an immediate ceasefire in Israel’s military offensive in Gaza. Blinken, though, contended that such a halt would only enable Hamas to reorganize and launch renewed attacks on Israel. He advocated for humanitarian pauses in Israel’s operations to facilitate a better flow of aid and increased evacuation of foreign nationals out of Gaza and into Egypt.

Arab Leaders’ Concern Over Civilian Deaths

Arab leaders have voiced their concern about the civilian death toll in Gaza and are calling for an immediate ceasefire. They argue that the deaths of thousands of civilians cannot be justified as self-defense and underscored the necessity to establish an armistice before discussing Gaza’s future. Arab states are also apprehensive about the conflict spreading regionally, with Lebanon’s Hezbollah and Iraqi Shiite militias having begun attacks on Israel since the conflict’s inception.

International Call for Ceasefire and US’s Response

The international community has been vocal about a ceasefire, but both Washington and Israel have dismissed these calls. The US is aiming to convince Israel to agree to local pauses in the fighting to allow for the delivery of humanitarian aid. However, Israel is wary that Hamas would utilize these pauses to regroup and resupply.

US’s Role in the Ongoing Conflict

The US has been criticized for its support of Israel’s military campaign and its reluctance to call for an immediate ceasefire. But, the Biden administration argues that a ceasefire at this stage would only allow Hamas to regroup and resume its attacks on Israel. The US is instead calling for humanitarian pauses in the fighting to facilitate the delivery of aid and the evacuation of civilians. The conflict has also raised concerns about the potential for the violence to spread to other countries in the region.

https://bnn.network/international-relations/us-secretary-of-state-antony-blinken-rejects-cease-fire-request-in-gaza/

The dinar is stronger than the dollar.” The hypothesis that is absent from reality!, 5 NOV

 The dinar is stronger than the dollar.” The hypothesis that is absent from reality!

Everything has become higher because of the dollar, a dangerous trade recession that the country is experiencing, amid warnings of an economic slide that may lead to a worsening of the situation in the coming days.

According to experts, merchants affiliated with influential parties and entities are the only beneficiaries of the platform affiliated with the Central Bank,  and the government must come out immediately and be honest with the people about the truth of what is happening.

According to a simple calculation, the Central Bank sells an estimated two hundred thousand dollars daily, meaning that the daily profits of speculators are estimated at forty thousand dollars, bringing their monthly total to one million two hundred thousand dollars, which is equivalent to about two billion Iraqi dinars net for speculators per month.  link 

Iraqi Dinar - 7 Currencies to Make You Solvent #IQD #VND & More BY SANDY INGRAM

"RV UPDATE" BY MNT GOAT, 5 NOV

 Mnt Goat  

 ...We can see many events in-line with January 2024.  I want to bring you up to date on my latest conversation with my CBI contact... It was told to me that the re-education campaign is still going forward but not yet rolled out as of yet. There is talk in the CBI it may be postponed due to the Gaza strip conflict, but no action or direction has been given to signify this as of yet...

 ...in the news is yet more de-dollarization efforts as they convert the remaining of the border crossing stations all to “all dinars” only for custom fees. The Parliamentary Finance Committee renewed on Tuesday, its support for the Central Bank’s measures to control the exchange rate and address any obstacles...

we learned that the new government of Al-Sudani made promises in his administrations curriculum to bring back the dinar stronger than the dollar. Is this why he has openly in public stated the dinar is already stronger than the dollar?  Well then…where is it?  As investors we wait for it.

 Articles:  "NEARLY TEN BILLION DOLLARS IN IRAQI OIL REVENUES LAST MONTH";   "IRAQ IS AMONG THE LARGEST ARAB COUNTRIES IN GOLD RESERVES... INTERNATIONAL STATISTICS DURING 2023"  Yes, and still the dinar is at 1/6 of a penny. 

How outrageous is this that they still continue to manipulate the dollar in Iraq. We will see what happens in January when the CBI has reported they plan to cut off all dollars for imports. The dollars will dry up. So get ready Iraq…