The United Nations praises the efforts of the Iraqi government in combating corruption and money laundering, 15 DEC

 The United Nations praises the efforts of the Iraqi government in combating corruption and money laundering

12-14-2023

The United Nations praises the efforts of the Iraqi government in combating corruption and money launderingThe Executive Director of the United Nations Office on Drugs and Crime praised Iraq’s efforts to combat corruption and money laundering and engage the private sector.

The Integrity Commission said in a statement that the Commission’s Chairman, Judge Haider Hanoun, discussed with the Executive Director To the United Nations Office on Drugs and Crime, Ghada Wali, presented effective mechanisms to reduce corruption in state institutions and protect the private sector from involvement in corruption.

Hanoun reviewed Iraq’s efforts in the field of combating corruption and spreading a culture of integrity, transparency, and accountability. Pointing out that the Authority, represented by its Department of Relations with Non-Governmental Organizations, seeks to spread ethical behavior in the public and private sectors, and to hold educational programs and seminars in the field of risk management in the private sector and its impact on applying integrity standards, providing security for businessmen and investment companies, and contributing to the government effort towards… Reconstruction and provision of services.

He pointed out that the Commission held workshops and training courses to develop the cadres of the regulatory agencies and the rest of the employees of state institutions, praising the development of the training programs of the Iraqi Anti-Corruption Academy and its digital transformation.

For her part, the Executive Director of UNODC praised Iraq’s efforts in the field of combating corruption and combating money laundering, as well as working with the private sector by holding conferences, noting Iraq’s participation and effectiveness in the CLUB project, and its endeavor to draw up a new strategy for integrity and anti-corruption and adequate preparation and preparation for it.

dijlah.tv

"RV UPDATE" BY TEXAS SNAKE, 15 DEC

 Thurs. 14 Dec. Texas Snake: I have received a notice today and then had it confirmed by several entities unrelated to the original message. The word I received was the Bondholders as well as CMKX and the Indian Tribes would be notified late tomorrow Fri. 15 Dec. into Saturday 16 Dec, as to how their funds were going to be delivered. Tier4b and Bond Holders would receive our notices late .

Sun. 17 Dec. into early Mon. Tier 4b could begin scheduling appointments starting next Wed. 20 Dec. 

to exchange.  The 20th is an important date in country relative to the Iraqi budget. Everything in country is positive for a Wed. 20 Dec. RV.

Iraqi Dinar🔥December 15th/20th Timetable Revaluation Of IQD 2023🔥iraqi d...

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Iraqi dinar 🔥 Iraqi Dinar New Timeline For Revaluation 🔥 Iraqi Dinar RV ...

Central Bank achieves new step in right direction to regulate foreign trade, 15 DEC

 Central Bank achieves new step in right direction to regulate foreign trade, 15 DEC

Our national economy has been suffering for two decades from a lack of clarity of methodology, fragmentation of policies and uncertainty in economic decision-making, in addition to being affected by economic, political and security variables in the countries of the world and the countries of the region.

And inside Iraq, which clearly led to the lack of stability in the monetary system and the financial system and thus to the lack of achieving the required economic stability and what increased the complexity of the matter is the weak coordination between monetary policy and the fiscal policy and thus the lack of clear policies for the real sector, especially for agriculture, industry and trade, both internal and external, and certainly the impact on the lack of control over the operations of foreign transfers of imports in US dollars, which confected the monetary market and the commercial market during the years 2021 and 2022, and the obligation of Iraq by the US Federal Reserve to pass all foreign transfers through the electronic platform according to new controls and strict control to control the arrival of the dollar to the final beneficiary.

In addition, the lack of control of the government concerned authorities over illegal trade and the lack of control over unofficial border crossings, which forced the Central Bank to assume its role specified by Law 56 of 2004 and takes as of the first quarter of 2023 a large number of procedures, mechanisms and negotiating efforts with the US Federal Reserve and banks of other countries with which Iraq has an important trade exchange, such as China, India and some discreet correspondent banks for the purpose of regulating foreign trade operations and controlling the movement of foreign transfers in accordance with sound international banking standards.

The efforts of the Central Bank last week, after a number of negotiating rounds that lasted for several months, resulted in reaching a new agreement with the US Federal Bank and in cooperation with the banks (Ste Bank), (JP Morgan) and (Singapore Development Bank) and through some Jordanian banks, which have accounts open for some Iraqi banks, to open new banks, strengthen their balances in US dollars and use new currencies, namely the euro, the Chinese yuan, Indian rupee and the UAE dirhams, with the aim of increasing the reception channels of traders and importers, 

facilitating their foreign transfer procedures, shortening the time limits of foreign transfers in the electronic platform and addressing the rejections that previously occurred to some transfers of some traders.
As well as issuing instructions to allow banks to import foreign currencies that they need for the purposes of covering their daily transactions in accordance with special conditions and controls under the supervision of the Central Bank, the success of these steps requires the banks covered by the agreement with the US Federal Reserve and wishing to import foreign currencies

 to provide the necessary requirements and provide all the conditions and capabilities to attract traders, importers and customers in accordance with the standards and controls that have been agreed upon. This may require some time to enter the new method of foreign transfers with direct coverage of the correspondent banks that have been agreed with for direct implementation to enhance banking balances and diversify foreign currencies.

I believe and without a doubt that the Central Bank has begun to implement its new strategy with solid steps based on an accurate diagnosis of the problems of external transfers and the stability of the exchange rate. We hope that the number of banks covered and the number of discredent international correspondent banks whose dealings receive confidence from central banks, including the US Federal Bank, will increase and that the crisis of exchange rate stability has begun to take a breakthrough.

https://economy-news.net/content.php?id=37554

Crescent Petroleum prepares a $1 billion investment in Iraq, 15 DEC

 Baghdad (IraqiNews.com) – Crescent Petroleum plans to invest up to $1 billion in Iraq as part of a deal it struck with the Iraqi government in early 2023.

According to the CEO of Crescent Petroleum, Majid Jafar, the investments are in concession areas in the northeastern governorate of Diayla and the southern oil metropolis of Basra.

Crescent Petroleum has conducted an initial assessment of the gas reserves in the Kurdistan region of Iraq and has determined that these reserves are around 80 trillion cubic feet, according to Jafar’s statement cited by the Aliqtisad News.

Jafar explained that in addition to large quantities of crude oil, Crescent Petroleum’s goal is to create 750 million cubic feet of gas per day in Basra and Diyala.

“Although we may increase our initial investment by several times over the course of the 20-year contract, we still intend to invest close to $1 billion,” Crescent Petroleum’s official stated. 

Crescent Petroleum and Iraq concluded a 20-year agreement in February 2023 to develop four oil and gas projects in Basra and Diyala.

"RV UPDATE" BY CLARE & SANDY INGRAM, 15 DEC

 Clare

  Article:  "Iraq agrees with the UAE to launch financial transfer and trade financing operations between the two countries"

  Quote:  "The Central Bank stated in a statement...that Central Bank Governor Ali Mohsen Al-Alaq met in Dubai with the Chairman of the First Abu Dhabi Bank Group, Hana Al Rostamani, indicating that during the meeting it was agreed to launch financial transfer operations between the two countries and finance trade and imports between them. Iraq and the United Arab Emirates in the UAE dirham currency through First Abu Dhabi Bank "

 Article:  "Samsung: Iraq represents the most prominent market in the Middle East"

Sandy Ingram 

 Article: "CIA warns Baghdad of serious consequences if attacks against US personnel  continue"  Since October 17th the US presence in Syria and Iraq has been under constant threat.