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Nassif: “Capital” Circumvents Iraqi Law And Drains Iraqi Funds Through The Currency Auction

 Nassif: “Capital” Circumvents Iraqi Law And Drains Iraqi Funds Through The Currency Auction

 Policy     2024-07-03 | 2,923 views   A member of the Parliamentary Integrity Committee, Representative Alia Nassif, revealed today, Wednesday, that the  Capital Bank is circumventing Iraqi law, while indicating that  it is draining Iraqi funds through the currency auction.  Nassif said in a tweet on "X", "Capital Bank agreed with the National Bank to circumvent Iraqi law by opening an account for Iraqi clients at Capital and then making investment transfers."

She added, "Huge sums are deposited in Iraqi dinars and then transferred and received in Amman in dollars as part of an organized operation to smuggle money into Jordan," indicating that  "Iraqi funds are being drained through the currency auction."    https://www.alsumaria.tv/news/politics/492906/نصيف-الكابيتال-يتحايل-على-القانون-العراقي-ويستنزف-الأموال-العراقية-بمز    

"ABOUT THE STRENGTHENING OF IRAQ'S POSITION AS A SECURE TRANSIT CORRIDOR FOR INTERNATIONAL INTERNET AND INTERCOMMUNICATIONS" BY GOLDILOCKS

GOLDILOCKS

The Iraqi Ministry of Communications, under the direct supervision of Minister Dr. Hayam Al-Yasiri, announced the signing of a contract for the deployment of the 2Africa Pearls undersea cable.

The agreement, signed with Gulf Submarine Cables Company owned by Saudi Arabia's STC, aims to route internet capacities from around the world through the Arabian Gulf and Iraq to Europe.

Minister Al-Yasiri highlighted that 2Africa's  Pearls cable, which spans 47 global and regional landing stations, will strengthen Iraq's position as a secure transit corridor for international internet and telecommunications.

According to a press release from Iraq's Ministry of Communications, the project involves partnerships with major global companies including STC Saudi Arabia, Vodafone, MTN, Facebook, and China Mobile. 2Africa's website says the consortium includes eight members, namely, CMI, Meta, MTN GlobalConnect, Orange, stc (center3), Telecom Egypt, Vodafone, and WIOCC [West Indian Ocean Cable Company] .

Al-Yasiri also announced the fulfillment of promises to enhance Iraq's geographic significance and revenue. The transit internet capacity through Iraq has surpassed one terabit via the Civilizations Pathway project, a significant achievement within just six months.

https://www.iraq-businessnews.com/2024/07/01/iraq-enhances-internet-connectivity-with-new-undersea-cable-agreement/#google_vignette

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