Thursday, November 30, 2023

Integrity enters the field of “illicit gain” and stops inflation by 266 billion dinars, 30 NOV

 Integrity enters the field of “illicit gain” and stops inflation by 266 billion dinars, 30 NOV

During a review on Thursday, Judge Haider Hanoun, the head of the Federal Integrity Commission, highlighted Iraq’s efforts to combat corruption in the past year. He urged international organizations to acknowledge the country’s achievements in deterrence, prevention, awareness, and education, which he described as “unprecedented.” However, he also pointed out that there were still challenges in tackling illicit gain, citing files inflated by over a quarter of a trillion dinars.

Hanoun delivered at the European Union mission forum in Iraq on International Anti-Corruption Day. The conference was titled “Iraq… Prospects and Challenges of Combating Corruption”. He mentioned that the Commission had made significant progress in the fight against corruption and that Iraq’s experience in this field is almost unparalleled globally. Hanoun urged international organizations to give Iraq its due recognition and rank it highly in the anti-corruption index.

Hanoun reviewed the Authority’s preventive education and awareness-raising efforts over a year. The Authority launched an extensive campaign to follow up on the debts of senior officials and the inflation occurring therein. Hanoun stressed that opening this file resulted in significant achievements. The funds amount to an amount that represented inflation in light of the technical reports of the Prevention Department. The referral of its files to the judiciary exceeds 266 billion dinars.

The head of the Integrity Commission expressed gratitude towards the judiciary and the current government for their support in the Commission’s efforts to combat corruption within state institutions. The Commission aims to recover the accused and the funds related to crime inside and outside Iraq. It has also cooperated with the international community to conclude agreements. Some of these efforts have resulted in the successful recovery of funds and the conviction of those who committed corruption.

Hanoun expressed his appreciation for the significant efforts made by international and regional organizations in assisting Iraq in combating corruption. He specifically mentioned the United Nations Development Program and the European Union mission, which funded the project entitled “Supporting Justice Initiatives to Combat Corruption and Promoting the Settlement of Commercial Disputes.” Hanoun also acknowledged the contributions of the United Nations Office on Drugs and Crime and the German Agency for International Cooperation (GIZ).

The European Union.

European Union Ambassador Thomas Seiler remarked that corruption is a global problem that affects even developed nations. Its impact can be seen in various sectors, such as healthcare, security, and education. He emphasized that effectively combating corruption is crucial to eradicating poverty and unemployment. On the other hand, the proliferation of corruption can lead to organized crime, which negatively affects the local economy and undermines public trust in the system and the government.

Seiler commended Iraq for its recent efforts in combating corruption, which have demonstrated to the European Union and countries worldwide that Iraq is committed to fighting this crime and adhering to the United Nations Convention against Corruption. He emphasized that a society governed by the rule of law creates an attractive environment for investments and facilitates the creation of a strong economy.

Baghdad resume

The Deputy President of the Baghdad Court of Appeal – Al-Rusafa, Judge Iyad Mohsen Damad, has acknowledged the cooperation and coordination between the judiciary and regulatory agencies in the fight against corruption. He highlighted that the Supreme Judicial Council plans to establish specialized courts to handle cases related to integrity issues. The council also seeks to support judges in their rulings against those who misuse public funds and help recover smuggled funds.

According to Damad, the collaboration and coordination among the Integrity Commission, Supervision Bureau, and Anti-Money Laundering Office led to the development of the Financial Investigation Guide. This guide is now available for investigative judges and investigators to utilize in their work.

Sudanese role

Moayad Al-Saadi, the advisor to the Prime Minister, has emphasized Al-Sudani’s commitment to progress with the anti-corruption agenda. He has also stated that the regulatory agencies will be supported in their efforts to hold accountable those who have stolen public funds, without any exceptions for government employees.

Al-Saadi concluded by stating that Al-Sudani encouraged taking legal action against anyone, whether a current or former official, who dares to misuse public funds. He praised the efforts of the Federal Integrity Commission in combating and preventing corruption.

Iraqi Dinar When Iraqi Dinar Go Up in Value Forex Dinar News Update Dina...

"RV UPDATE" BY FRANK26, 30 NOV

 Frank26 

 Can the CBI, Alaq and the board of directors reduce the exchange rate of the American dollar

 No, of course not.  They don't have jurisdiction to do that.

  Who can do that

 The US Treasury.  Alaq and Sudani said to the citizens, 'Private banks will give support to the Iraqi citizens by reducing the dollar exchange rate. What that means is they're going to give value to the Iraqi dinar...It reduces the value of the American dollar in the country of Iraq. 

Every day those that were against it [The dinar/monetary reform], those that were negative like parliament are complimenting and cheering on what is about to happen.

  Everyday they come up with new ways of saying the same thing.  Article: "Advisor to the prime minister: Economic policy in Iraq is moving towards implementing the principle of monetary sovereignty 

MONETARY SOVEREIGNTY... ANOTHER BEAUTIFUL WAY OF SAYING WE HAVE A NEW CURRENCY.

Question:   "Do I need my receipt when I go exchange my Iraqi dinar?" 

 The answer is no but you will need your receipt if you are ever audited to determine the tax bracket that they would charge you under.  [Note:  Speak with your tax professionals at the appropriate time to determine the right tax for your unique circumstances.]

The coordination framework talks about the “possibility” of deciding on the selection of Al-Halbousi’s replacement before the local elections, 30 NOV

 The coordination framework talks about the “possibility” of deciding on the selection of Al-Halbousi’s replacement before the local elections, 30 NOV

The coordination framework talks about the possibility of deciding on the selection of Al-Halbousis replacement before the local electionsShafaq News/ The coordination framework, which brings together the Shiite political forces, confirmed today, Wednesday, that there is a possibility of deciding the selection of the new speaker of parliament, before the governorate council elections scheduled for next December 18.
The leader in the framework, Hassan Fadaam, told Shafaq News Agency, “There is a possibility of deciding the election of the new speaker of the House of Representatives before the governorate council elections, and the political forces in general, and not the coordination framework, are in dialogue and studying setting a date for holding an extraordinary session of Parliament to elect the new president, especially since there is no “There is no interest in obstructing the resolution of this important entitlement.”
He added, “There is no division within the coordination framework regarding the names nominated for the position of Speaker of Parliament, especially since the framework is not a political alliance, but rather a coordination meeting between the Shiite forces, to coordinate positions, determine the compass for political action and the interests of Iraq, and take the necessary steps to support the government.”
He continued, “There are different views among the forces of the coordination framework regarding the names nominated for the position of Speaker of Parliament, and perhaps the framework does not fully support one person and the framework may have two or more opinions, but now the coordination framework is studying the nominated names, and will soon inform the Sunni political forces of its opinion.”
The leader in the coordination framework concluded by saying, “Every political party in the framework is free to support any candidate it deems appropriate, and the decision remains within the House of Representatives through voting and any candidate obtaining a majority of the votes.”
The Presidency of the Iraqi Council of Representatives decided to officially terminate the membership of Council Speaker Muhammad al-Halbousi, based on the decision of the Federal Supreme Court, as of the fourteenth of November 2023.
On Tuesday, November 14, the Federal Supreme Court, “the highest judicial authority in Iraq,” announced the termination of the membership of Parliament Speaker Muhammad Al-Halbousi, against the backdrop of a lawsuit filed against him by Representative Laith Al-Dulaimi, in which he accused him of forging his (Al-Dulaimi’s) resignation from membership in the House of Representatives. As a result, the Federal Court ruled to terminate their membership (Al-Halbousi and Al-Dulaimi).

An economic expert shows 3 advantages of the electronic payment system, 30 NOV

 An economic expert shows 3 advantages of the electronic payment system, 30 NOV

An economic expert shows 3 advantages of the electronic payment systemInformation / Baghdad..
Today, Wednesday, economic expert Nabil Al-Ali identified three positive aspects of the government’s steps towards floating the electronic payment system in future transactions.

Al-Ali said in a statement to Al-Maalouma, “The trend towards electronic payment aims to limit the phenomenon of the cash economy, which has major negative effects on the Iraqi economy and consequences and effects with regard to managing liquidity and the costs of this liquidity from printing currency and controlling it.”

He added, “One of the positives of implementing the electronic system is that it contributes to controlling customs and taxes and providing specialists with financial movement, as well as eliminating the phenomenon of tax evasion through the process of linking control and knowledge of the volume of sales, which will thus save the treasury large sums.”

It is noteworthy that Prime Minister Muhammad Shiaa Al-Sudani confirmed during his visit to the General Traffic Department yesterday, Tuesday, that the experience of electronic payment in collections and transactions with state institutions is part of reforming the financial and banking system, and prevents suspicions of corruption.
almaalomah.me

Banks' Screen = $4.50 'Pending'?💣Lower Notes?!🤔Iraq Dinar RV Updates | 1...

"RV UPDATE" BY SANDY INGRAM, 30 NOV

 Sandy Ingram 

 Article:  "Inflation rate in Iraq declines in 2023 compared to 2022

 The Central Bank of Iraq announced the inflation rate decreased in 2023 compared to 2022.  Inflation in Iraq reached approximately 3.7% in August 2023, compared to 4.4% in August 2022.  Iraq's inflation rate is good compared to many countries where inflation has reached 30% and 40%...

Wealthy Iraqis move to the Caribbean.  Guess who's on the list?  ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch

individual involved in corruption....The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical.  Citizens can travel to 144 countries without a visa..


 The country has no tax on foreign income, capital gains, inheritance, stock profits, wealth or gifts...The former Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, obtained Dominica citizenship in 2017 along with his wife and two children and did not renounce it upon his appointment as governor of the CBI which was clear violation of article 18 paragraph 4 of the Iraqi Constitution.  He held the position of governor of the Central Bank of Iraq from September 2020 until his removal by the current prime minister on January 23, 2023...

There are corruption questions...a legal complaint... has been filed due to the loss and depletion of millions of dollars regarding forged import documents.

  The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless.   It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange.  Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.


 The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless.  It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange.  Most of these reserves are held in US dollars since it is the most traded currency in the world...

The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history...

Article:   "Good News for Investors:  US Treasury Continues to Omit Vietnam Currency Off Currency Manipulator's List"  

 Vietnam was not included on the US Treasury Department currency manipulators list this time.   The list comes out twice a year and includes countries that may have surpassed the value of their currency.  When a country does this it cheats investors on potential profits...Iraq is rebuilding after the war so is not yet subject to currency manipulation lists...

  On Wednesday the Prime Minister of Iraq's advisor took the lead from the Central Bank of Iraq and announced Iraq has the largest foreign currency reserves in its' history and that the exchange rate treatment package aims to prevent profiteering at the expense of the economy...

DINAR GURUS UPDATE, 28 NOV

 DINAR GURUS UPDATE Summary Iraq’s monetary situation is strong, with increased reserves supporting exchange rate stability, while updates o...