FRANK26: "BEFORE THE END OF THE YEAR" , 6 DEC

 KTFA

FRANK26: "BEFORE THE END OF THE YEAR".......F26

 

Parliamentary Finance: This is the problem of the draft amendment to the budget law and this is the date for the tables to arrive

 

12/1/2024
 

Baghdad /

The Parliamentary Finance Committee revealed some details of its joint meeting with the agents and senior cadre officials in the Ministry of Oil, to discuss oil revenues and the draft amendment to the general budget law related to production costs in the Kurdistan Region's fields.
 

The head of the committee, Atwan Al-Atwani, said in a statement to media representatives, including the National Iraqi News Agency / NINA / today, Sunday, that "the meeting focused on the technical aspects of the oil revenues file, especially with regard to the extent of the region's commitment to the agreed-upon decision of the consulting company, the time frame required to complete the requirements of this estimate, and the estimated production costs and criteria for calculating them."
He explained that "there is an urgent need to end the management of this file according to legal foundations that achieve justice, which requires studying and reviewing the new amendment draft," indicating that "the agents of the Ministry of Finance will be hosted in a new meeting to explain the mechanism for paying these amounts that are considered sovereign expenses."

He added, "The draft amendment relates exclusively to Article 12, Second C, and does not include any other article in the General Budget Law," indicating that "the problem with the draft amendment to the new budget law is the extent to which companies contracting with the region adhere to the results of arbitration and the decision of the consulting company, which may indicate a discrepancy between the companies' vision and conviction in determining the price and costs of production and the decision of the consulting company," noting the necessity of having an obligation to the provisions of the law and their implementation, and we do not want to add other new provisions, but rather limit ourselves to binding governing provisions."

Regarding the general budget tables, he explained, "The tables are supposed to reach the House of Representatives before the end of this year."

LINK

TIDBITS FROM FRANK26, 6 DEC

  Frank26 

 Question "Will there be taxes?  37% on short term - 20% on long term?" 

Yeah, that's about right,  somewhere in that ball park.  Ask a professional because I certainly don't know the exact tax code...

 Question "We had currency for a year or more and we decided to buy more, will we still have to pay 40%?" 

 Yes, every time you buy whatever you buy, your receipt verifies your time frame.  That's why your receipt is so important.  If you're ever audited you need to prove your time frame. 

Majeed: GET RRRRREEEAAADYYY!!! : The USD no longer exists inside Iraq!! @DINARREVALUATION #iraqidinar

 

FRANK26: "MONETARY REFORM SAYS DON'T EVEN TRY THIS!!!, 6 DEC

 KTFA

FRANK26: "MONETARY REFORM SAYS DON'T EVEN TRY THIS!!!".........F26

 

Parliamentary Integrity Committee accuses former Iraqi Central Bank employee of being behind US sanctions

12/1/2024

 

The Parliamentary Integrity Committee accused, on Sunday, a former employee of the Central Bank of being behind the banking sanctions imposed on some Iraqi banks by the US Federal Reserve. 

The number of banks sanctioned is 32 out of 72 banks operating in Iraq. 

Member of the Parliamentary Integrity Committee, Vian Dakhil, said in a statement received by Shafak News Agency,that a former employee of the Central Bank hid emails received from the Federal Bank, JP Morgan and Citibank to inquire about some topics related to the bank's work.  

She added that failure to respond to these issues led to some banks being punished, stressing that most banks do not know the reason for the penalties imposed on them. 

On the other hand, economic expert Mustafa Akram Hantoush told Shafak News Agency that the statements of the members of the Parliamentary Integrity Committee are closer to reality than the statements of the Central Bank of Iraq. 

He added that the collapse of the Iraqi banking system and the punishment of 32 Iraqi banks without any clear charges during a period of (a year and a half) is not normal and from the banking work perspective this may be the first incident of this kind in the world.

Hantoush pointed out that the worst thing is the lack of serious solutions by the Central Bank of Iraq to this situation, but rather the move towards cancelling the (Fitr) platform by the end of 2024 and handing over the dollar file to banks affiliated with foreign investors and banks (Jordanian and Gulf). 

Hantoush wondered whether the Central Bank of Iraq knows that by not finding solutions for the Iraqi banking sector, it will fire the mercy bullet at the entire Iraqi banking system and it will be punished as a whole, which will lay off nearly (100) thousand workers in the Iraqi private banking sector for the benefit of Jordan and the Gulf States, and why are Iraqi banks not guaranteed to open an account for them in the correspondent banks in dollars (Citibank / JP Morgan) like the countries of the region did.

He continued, "Why has the mechanism for cooperation and auditing with Ernst & Young regarding transfers in currencies other than the dollar not yet been determined and announced?"

LINK

 

JULIAN ASSANGE: AT ANY MOMENT TIERS 3 & 4 A/B WERE EXPECTED TO RECEIVE NOTIFICATIONS TO SCHEDULE REDEMPTION APPOINTMENTS, 6 DEC

 JULIAN ASSANGE

· AT ANY MOMENT TIERS 3 AND 4A/B (INCLUDING THE INTERNET GROUP) WERE EXPECTED TO RECEIVE NOTIFICATIONS TO SCHEDULE REDEMPTION APPOINTMENTS. BONDHOLDERS IN TIERS 1 AND 2 HAVE ALREADY RECEIVED THEIR FUNDS, BUT ARE UNDER NDAS.

· THURS. 5 DEC: BRICS NATIONS TO UNVEIL THE GLOBAL CURRENCY RESET.

· FRI-SAT 6-7 DEC. 2024: GLOBAL EMERGENCY BROADCAST SYSTEM (EBS) ALERTS.

· SUN. 8 DEC. 2024 TO WED. 18 DEC. 2024: TEN DAYS OF DARKNESS GLOBAL COMMUNICATION BLACKOUT SET TO BEGIN, ENDING ON WED. 18 DEC. 2024.

· NEXT WEEK: THE MAIN ARRESTS BEGIN OF JUDGES, PROSECUTORS AND LAWYERS WHO WERE PAID BY GEORGE SOROS TO BETRAY AND SABOTAGE THE UNITED STATES. IT WILL BE BIBLICAL.

· TUES-WED. 17-18 DEC. 2024: GLOBAL FINANCIAL COLLAPSE.

MAJEED: Iraq is done & Ready to roll the new rate tomorrow GOLDEN AGE IS COMING!! @DINARREVALUATION

 

FRANK26: "SUDANI TELLS THE UST... MISSION ACCOMPLISHED!!!", 6 DEC

 KTFA

FRANK26: "SUDANI TELLS THE UST... MISSION ACCOMPLISHED!!!"........F26

Private Banks Association announces increase in deposits in banking sector over last two years

12/1/2024

 Baghdad
 

The Association of Private Banks announced today, Sunday, the increase in deposits in the banking sector during the last two years, while indicating the government’s great interest in the recent period in relation to digital transformation in general and the shift towards an electronic payment system.

The Executive Director of the Association of Private Banks, Ali Tariq, said in a statement to the official agency, which was followed by "Al-Eqtisad News":  "During the last two years, deposits in the banking sector have increased, but there is still a large amount of cash outside the banking system, as this requires increasing confidence in the banking sector, whether governmental or private, and strengthening this confidence through the Central Bank of Iraq and the Iraqi government, in addition to offering investment programs for deposits that are reflected in citizens' deposits, which may achieve returns for depositors in these banks, and thus there is an incentive and motivation to increase these deposits."

Tariq added, "Strengthening the electronic payment system in Iraq has very positive repercussions on increasing the use of the banking system in payment and settlement operations, whether between citizens and government services or citizens with private commercial institutions," pointing to "the government's great interest in the recent period in relation to digital transformation in general and the shift towards an electronic payment system at the level of financial transactions."

He added, "About 75 percent of the money supply is outside the banking system and requires a great effort to encourage citizens, companies and institutions to use the banking system more, which is currently happening, but this type of work needs to be accelerated to control financial operations in Iraq."

LINK