Iraq’s Integrity Commission Recovers Over Two Billion Dinar From Corruption Cases, 25 DEC

 Iraq’s Integrity Commission Recovers Over Two Billion Dinar From Corruption Cases

In a significant stride against corruption, the Federal Commission of Integrity in Iraq declared the successful recovery of over two billion Iraqi dinars (equivalent to around 1.5 million US dollars) on Sunday. These funds, retrieved from corruption cases implicating former state officials, have been reintegrated into the state treasury. The amounts symbolize a fraction of the inflated assets of the accused officials, which include embezzled tax custodial funds.

Recovered Funds and the Fight Against Corruption

The Media and Communication Office of the Integrity Commission disclosed that the recovered sums are deposited into two accounts at Al-Rafidain Bank, Defense Branch. They include 1.3 billion dinars from the bloated and illicitly gained assets of the ex-Prime Minister’s technical advisor. Furthermore, the Commission reclaimed 775 million dinars, which a detained official, the prior director of the Baghdad Governor’s office, accepted as a bribe from a foreign company in return for contract referrals.

An additional 25 million dinars were recuperated from rental income linked to properties owned by the incarcerated wife of the former Director-General of the General Tax Authority. Prior to this, the Integrity Commission had launched a campaign against illegitimate wealth accumulation and corruption across different state institutions, beginning with the tax sector.

Accounting for Recovered Funds

The Commission established accounts in Iraqi dinars and US dollars at Al-Rafidain Bank to account for the restitution of recovered funds, representing the proceeds from corruption. Despite being rich in oil wealth, Iraq continues to grapple with rampant corruption within its government institutions.

Government’s Commitment to Combating Corruption

The current administration, under the leadership of Prime Minister Mohammed Shia’ al-Sudani, is prioritizing the fight against corruption and the protection of public funds. It regularly discloses the failures of previous administrations. Iraqi officials have indicated that the tax custodian case revolves around illegal cash withdrawals from the General Tax Authority totalling approximately 2.5 billion US dollars over 2021 and 2022. This figure is substantial, considering Iraq’s consistent ranking among the most corrupt nations globally.

https://bnnbreaking.com/breaking-news/crime/iraqs-integrity-commission-recovers-over-two-billion-dinar-from-corruption-cases/

"RV UPDATE" BY PETRA & SAMSON, 25 DEC

 Petra 

 Patterns over the last couple weeks have been nothing but exciting...Their focus has been on tightening up their relationships and activities...with their new partners globally...Now they're reaching out to countries and corresponded banks...which is critical for their currency to do what it needs to do.  What we're seeing very clearly is a very focused and direct effort to get them over this finish line and to get them Article VIII compliant...all of these things line up...It's basically done...Now they're ready to go.

Samson 

 Article:  " Sudanese Advisor: Dollar prices in Iraqi markets will approach 132 thousand soon"

Article: "Plasschaert: Iraq has an excellent opportunity for rapid progress in its sustainable development"  Quote: "the United Nations in Iraq, Jeanine Hennis-Plasschaert, confirmed today, Saturday, that Iraq has an excellent opportunity for rapid progress in its sustainable development...it has emerged..."

Iraqi Dinar Anything can Change News Update Dinar IQD Iraqi Dinar 2 New ...

Iraq Nears End of Dollar Struggle Amidst Financial Reforms and Rising Dinar, 25 DEC

 Iraq Nears End of Dollar Struggle Amidst Financial Reforms and Rising Dinar

As Iraq inches closer to the resolution of its dollar conundrum, a recent statement from a media advisor to Prime Minister Mohammed Shia al-Sudani has confirmed the near-end of this struggle. The U.S., represented by Ambassador Alina L. Romanowski in Baghdad, has pledged its support to the Iraqi government’s efforts by offering dollar services.

Renewed Confidence Between Baghdad and Washington

The Iraqi government’s commitment to financial reforms and the resolve to rectify institutional practices have fostered a renewed sense of confidence between Baghdad and Washington. Romanowski has lauded the mutual cooperation between the U.S. Treasury Department and the Central Bank of Iraq. The budding relationships between Iraqi banks and international banks are viewed as a positive stride towards reforming the banking sector.

Washington’s Refusal and the Rising Dinar

This announcement follows a report by The Wall Street Journal, revealing that Washington had declined Iraq’s request for $1 billion in cash from the Federal Reserve. This refusal was attributed to the efforts to curb Baghdad’s dollar use and halt illegitimate cash flows to Iran. Contrarily, the Central Bank of Iraq had previously announced that dollar payments from the Federal Reserve were on track, adhering to a schedule mutually agreed upon by both institutions. Simultaneously, the value of the Iraqi dinar has seen a surge for the first time in about a year following the formation of the current government. This government has been combating currency speculators and manipulators while addressing the currency sale window used for financing import and export operations.

A Hopeful Start to 2023 for Iraq

Prime Minister al-Sudani has initiated the formation of an Iraqi-Turkish committee to streamline trade and strategic partnership between the two nations and bolster Iraqi merchants’ imports in Iraqi dinars. Despite the preliminary local election results announced a week ago, the final results are yet to be declared, leading to public confusion. Nevertheless, the U.S. ambassador reiterated the continuation of dollar services to Iraq, and Prime Minister al-Sudani appeared confident as he inaugurated the Freedom Bridge in Baghdad, indicating a hopeful start to 2023 for Iraq.

https://bnnbreaking.com/world/us/iraq-nears-end-of-dollar-struggle-amidst-financial-reforms-and-rising-dinar/

"RV UPDATE" BY NADER FROM MID EAST, 25 DEC

 Nader From The Mid East  

Article quote:  "Salih the financial advisor to the Prime Minister confirmed that the dollar exchange rates in the parallel market began to approach the official price set at 1320 per dollar after recent measures taken by the central bank and the Iraqi government..."

That's what's slowing down all this process.  It's people still using the dollar in Iraq.  Even me, I use the dollar in Iraq.  When I was there last week I use a dollar in Iraq.  Why?  Because it's a lot easier.  It's smaller.  You don't carry a lot.  You carry $500, $600, $700 with you, $1000 max...If I didn't have the dollar and If the dinar for me to carry...it would be a lot in my pockets..

 The facts are the facts.  If they delete the dollar, if they take off the dollar from the markets in Iraq, they're going to have to come out with a small category of dinar.  That's it.  Why?  Because it's too much dinars to carry...I'm not going to cary 150,000 dinars in my pockets.   I'm not going to do that. I prefer to have $100 than 150,000.

 Everybody's asking me what's going on.  What's the news.  The news, you will see it on the 1st of January - what exactly is going on.  They already gave you a date.  I told you the 1st of January we'll be out of the dollar.  We will not work with the dollar anymore in Iraq.

 Everybody's asking me what's going on.  What's the news.  The news, you will see it on the 1st of January - what exactly is going on.  They already gave you a date.  I told you the 1st of January we'll be out of the dollar.  We will not work with the dollar anymore in Iraq.

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-nader-from-mid-east_0350340910.html

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Sudanese adviser on the dollar: The battle is nearing the end, 25 DEC

 Sudanese adviser on the dollar: The battle is nearing the end

Mawazine News – Baghdad

Media adviser to Prime Minister Hisham Al-Rikabi confirmed on Sunday that our battle with the dollar is nearing an end.
Al-Rikabi said in his tweet, followed by Mawazine News, that “the will of the Sudanese government to carry out reform within financial institutions in Iraq and the insistence on correction, were important factors in strengthening confidence between Baghdad and Washington, and constituted a positive step in achieving success within the banking sector.”
He noted that “we said it earlier and we confirm it today, our battle with the dollar is nearing an end.”

https://mawazin.net/Details.aspx?jimare=239579