Friday, August 23, 2024
Iraq's Dhi Qar Court sentences municipal officials for corruption in landmark case, 23 AUGUST
Shafaq News/ A Dhi Qar Integrity Misdemeanor Court has handed down multiple criminal sentences against government employees, including two municipal directors, a security source told Shafaq News Agency on Wednesday.
The source said that the court issued prison sentences for eight government officials. Among them were two individuals who served as municipal directors in the Governorate, one of whom is now retired. The remaining six are currently employed in the Governorate's administration.
"The court's rulings included sentences ranging from four months to a full year," the source stated. The convictions were based on charges of public fund misappropriation, with the decisions issued under Article 331 of the amended Iraqi Penal Code No. 111 of 1969.
Iraq is grappling with a deep-rooted corruption crisis in the private sector that has siphoned off billions of dollars from its state coffers over the past two decades.
LATEST FROM CLARE, 23 AUGUST
Clare
Article Quote "The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh...pointed out that Iraqi oil sales are in dollars, and are deposited with the US Federal Reserve through an open account in the name of the Central Bank, which is managed by the bank on behalf of the Iraqi government."
Article "Is it time to remove the zeros?" Quote: "with the use of electronic payment operations, the environment will be mature and acceptable for the idea of implementing the decision to delete zeros, and the process will be automatic without the citizen feeling it. But is it time to issue the decision?"
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Clare
Article: "Government advisor explains the possibility of using the dinar instead of the dollar in oil sales" Quote: "Will it be a fixed exchange system supported by foreign reserves or will it be a flexible exchange system in which the (petrodinar) changes with the change in oil prices? These are paths that have no answers on the ground and are really very ambiguous "
Clare
Article: "Trade discusses the mechanism for Iraq's accession to the World Trade Points Federation"
Quote: "The Private Sector Development Department discussed with the Departments of Foreign Economic Relations and Administrative and Financial Affairs at the Ministry of Trade, the mechanism for Iraq's accession to the Federal Union of World
Trade Points, the legal procedures for joining, and the benefits that the Iraqi sectors will obtain."
Clare
Article: "Is “floating the currency” a solution to the crisis of the high dollar in Iraq? A representative explains"
Quote: "There are calls to float the exchange rate in Iraq...Floating the currency is a procedure based on liberalizing the exchange rate, leaving it to market factors (supply and demand), to determine its value without any form of intervention by the economic authority...There are two types of floating: the first is absolute floating, and the second type is managed floating, i.e. the type in which the central bank intervenes to direct the exchange rate up or down, as it sees fit to achieve the interests of the national economy."
Clare
Article: "US Treasury places Khamis Al-Khanjar on sanctions list"
Quote: "The US Treasury Department, through the Office of Foreign Assets Control (OFAC), has placed the head of the Sovereignty Party, Khamis Al-Khanjar, on the sanctions list of known individuals and entities with whom dealings are prohibited."
President Barzani and US Coalition Commander: Cooperation needed to defeat ISIS, 23 AUGUST
Shafaq News/ On Thursday, Kurdistan Region (KRI) President Nechirvan Barzani held a meeting with a delegation headed by Maj. Gen. Kevin Leahy, the commander of Combined Joint Task Force – Operation Inherent Resolve, to discuss regional security issues.
The KRI Presidency said in a statement, "Both leaders concurred that ISIS remains a significant and ongoing threat, continuing to jeopardize stability and security in Iraq and Syria with its persistent attacks."
According to the statement, the leaders highlighted "the critical need for the International Coalition's sustained operations" and emphasized "the importance of cooperation between the Iraqi Army, Peshmerga forces, and the Coalition to counteract terrorism and ensure the definitive defeat of ISIS.
The discussion also covered recent advancements in unifying the Peshmerga forces and implementing reforms within the Ministry of Peshmerga Affairs.
In this context, President Barzani reaffirmed "the KRI's commitment to the successful consolidation and reform of the Peshmerga forces," praising "the International Coalition's support for these efforts."
The meeting, attended by the Minister of Peshmerga Affairs, the Chief of Staff of the Peshmerga, and the US Consul General in the Region, also reviewed the latest developments and potential repercussions of the complex Middle Eastern situation.
Both parties stressed "the need to maintain regional stability and avoid further escalation and complications."
IRAQ BOOTS ON THE GROUND UPDATED BY FIREFLY, 23 AUGUST
Frank26
[Iraq boots-on-the-ground report]
FIREFLY:Sammy [Iraq bank manager] says we will continue to trade the three zero notes after the deletion project for 10 years. It's not a lop. This will be a powerful move.
FRANK: I like it because this is the guy that works at the bank and he knows darn well what's about to happen...Once the 3 zeros are lifted your purchasing power will be at least equal to $1.00. It may even be up to $1.30. Then your country will be able to rebuild itself even faster...I'm excited for your future. I'm equally excited for my future.
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Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Mr Sammy [his Iraqi bank friend] was explaining how our three zero notes will coexist for 10 years after they drop the three zeros...This is not a LOP...We don't have inflation like other neighboring countries around us that have to lop. We can delete zeros and introduce...the lower notes because of the value that is being added. That's purchasing power.
FRANK: That's always been the plan...I can't believe they're going to vie you these 10 years that Dr. Shabibi wanted. That's incredible...Wow!
FIREFLY: Saleh was talking about the floats and he was also talking to us about fixed rates. He's saying no decisions have been made. They talked about the pros and the cons of each one of these options. Then the CBI came out and said in the coming days we will make actions to lower the dollar exchange rate.
FRANK: Can the CBI lower the dollar exchange rate? No. Yes! How?
FIREFLY: ...The CBI's job is not to control the dollar...They can't touch a dollar but...the CBI can touch the dinar...If they lifted the value of our currency wouldn't that bring down the value of the dollar in our country?...Let's see if that is the only thing the CBI could do to bring the dollar down is raise the dinar. They say in coming days.https://dinarevaluation.blogspot.com/2024/08/latest-from-firelfy-22-august.html
AL-ARAJI: IRAQ STANDS ON THE CUSP OF A HISTORIC DIGITAL TRANSFORMATION, 23 NOV
AL-ARAJI: IRAQ STANDS ON THE CUSP OF A HISTORIC DIGITAL TRANSFORMATION National Security Advisor, Qassim al-Araji, said on Monday that Iraq ...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...