The Iraqi Central Bank discusses linking banks to the multi-currency “structures” platform

Baghdad – Mawazine News, The Central Bank of Iraq discussed, on Monday, the plans of action of banks operating in Iraq, to ​​ensure that it is easily linked to a multi-currency “structures” platform.

A statement issued by the bank / Mawazine News / a copy of it stated that “the Central Bank of Iraq, in cooperation with the Arab Monetary Fund, organized a workshop for banks operating in Iraq to participate in the platform, this came after the announcement of the launch of a platform for Arab payments of the Regional Foundation for the Clearing and Settlement of Arab Payments, which It is managed by the Arab Monetary Fund and preparations are made for this bank and a number of local banks for direct participation in the platform.

The statement added, “The workshop discussed the proposed banks ‘business plans and touched on the technical requirements and the steps required to ensure that they are easily connected to the platform and to know the banks’ readiness to do so.”

The “Bani” platform represents a multi-currency payment platform that provides clearing and settlement services in Arab currencies and international currencies that meet the eligibility requirements, to clearing and settling inter-Arab financial transactions as well as financial transactions between Arab countries and the main trading partners of Arab countries.

It aims to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive inter-payments in all parts of the Arab region and outside in a safe and reliable manner at an appropriate cost and high efficiency, in addition to that the Bani platform provides participants with modern payment solutions that are in line with standards and principles International and international compliance requirements.

And in the opportunities for economic and financial integration in the Arab region, it actively contributes to it to support investment links with the trading partners of the Arab countries on various continents.

The platform will be available to all banks that meet the criteria and conditions for participation in them, foremost among which are the standards and procedures for compliance aspects. Ended 6/29 n

Mawazin.net

Al-Kazemi: The time to waste money has gone nowhere and today is launching a new phase

{Baghdad: Al Furat News} Prime Minister Mustafa Al-Kazemi confirmed today, Saturday, during the opening of the Mandali border crossing, that the time for wasting the misplaced funds has gone and today is launching a new stage.

Al-Kazimi said in a statement received by his media office, that “the Mandali port is one of the important outlets, but it has turned into a den and a crossing for the corrupt.”

He added, “The time for wasting money has gone out of place, and today we are launching a new phase,” indicating that “the port is under the protection of our military forces, and it has the right to shoot anyone who violates the customs campus.”

He continued: “We will work to automate the administrative aspects of customs to protect public money and fight corruption,” noting that “there are (ghosts) present in the customs campus that blackmail the merchant and businessmen, and our message to them is that we will track them and rid the ports of them.”

He explained that “the money is the money of the people and not the money of the corrupt, and today I directed to protect the customs sanctuary and to proceed with the procedures of automation and the pursuit of (ghosts).”

He continued, “Security authorities and the director of ports were given powers to deal with the situation of the outlets,” noting that “there are those who try to cover up to cover up and protect the corrupt, but we will proceed to restore the prestige of the state and the law, which is an opportunity to launch into the future.”

Al-Kazimi added: “We need the solidarity of all Iraqis in order to move forward, and we will not stop fighting the corrupt.”

Alforatnews.com

He revealed the files of Al-Kazimi’s upcoming visit to Washington

{Baghdad: Al Furat News}, said adviser to the Prime Minister, Mustafa Al-Kazemi, that the Prime Minister’s upcoming visit to the United States will include several aspects, including security.

“It is a visit that includes the development of all relations, including on the security side,” Hisham Dawood told Al Furat News.

He added, “Our relations with America are strategic, cultural, scientific, economic, agricultural, and there is no doubt on the security side, and this is normal because we have a common war against ISIS and military relations and we import weapons from them . ”

It is expected that Prime Minister Mustafa Al-Kazemi will visit Washington, DC, in the next few days, during which he will head the Iraqi side in the second round of the strategic dialogue between the two countries.

Alforatnews.com

Government of Iraq – @IraqiGovt

Promoting and encouraging private-sector investment in the economy is critical component of the @IraqiGovt reform programme as key driver of growth and job-creation. #InvestIraq

The most important files negotiated between Baghdad and the region: financial dues, oil, customs and border entry points

Baghdad / Obelisk: A member of the Kurdistan Regional Government delegation negotiating with the federal government revealed new details about the negotiations and the date of the next visit of the delegation of the region to Baghdad, noting that the delegation of the region is awaiting a response from Baghdad, about the upcoming visit.

The member stated, according to media outlets, that the delegation of the Kurdistan Regional Government is likely to visit Baghdad at the end of this week, most likely, indicating that the delegation will be headed by the Deputy President of the Kurdistan Regional Government, Qubad Talabani.

He pointed out that reaching an agreement between the two sides has become necessary and urgent from both parties to the negotiations, pointing out that the files that are to be discussed are related to the financial dues of the Kurdistan region, oil, non-oil imports, customs and border ports.

He explained that the Baghdad government recognized all the files that the Kurdistan Region delegation presented to it recently, including the oil production file, as the delegation of the Kurdistan Regional Government provided statistics on the produced quantities, which amounted to 467 thousand barrels per day, of which 30 thousand barrels are for domestic consumption, and the rest are exported, as is The numbers were released on other imports.

It is mentioned that the most important pending issues between the two parties include the oil file, border crossings and airports, at a time when the poor economic and financial situation of the Kurdistan Regional Government is pushing Baghdad to raise the ceiling of its demands.

Almasalah.com

US report: The quota system Washington established is the root of corruption in Iraq

Information / A report by the American newspaper The Hill confirmed on Saturday that the most debilitating problems of the Iraqi economic situation that hinder the transition of the Iraqi state towards democracy are the established sectarianism and the kleptocratic political system that wastes the necessary resources for the country.

The report, which was translated by the information agency, stated that “corruption is the central issue facing any Iraqi government, and Iraqis denounced the inefficiency and ambiguity of government institutions run by the elite. There were demands for jobs and a broad movement that rejected the status quo.”

He added, “After nearly two decades of turbulent transformation from dictatorship to ambitious democracy, governance remains weak due to endemic financial blackmail despite the enormous oil wealth that can benefit all citizens. The Iraqi state has been designed primarily to launder revenue Oil through an inflated public sector for political parties on the basis of patronage while avoiding any form of real accountability.

He continued that “the spread of the epidemic and the drop in oil prices have caused new pressures on the Iraqi state and revealed the erosion of public institutions, such as medical colleges and hospitals, which is an inevitable by-product of lost revenue. Hospitals and private clinics have overwhelmed the scale of the crisis, the lack of medical treatment supplies and even personal protective equipment for thousands of doctors, nurses and other employees.

He explained that “the inevitable decline in revenues made it impossible for the government to support the remainder of its safety net, and any austerity would ignite anger, given that about half of the Iraqi budget goes to state salaries and pensions, which increases public distrust in institutions Country”.

And “The power-sharing system is the most intractable obstacle. The root of corruption lies in quotas, which was adopted in 2003, prioritizing the interests of parties over technocratic competence. This has led to a political culture that divides government authority among party members who have the authority to appoint around 800 civil service jobs across ministries during cabinet negotiations. ” And with each election, each party used its ministries to employ more and more members and followers. This has expanded the state-dominated payroll, and the payroll has swelled from 850,000 employees in 2004 to more than seven million employees in 2016. ”

The report pointed out that “dismantling kleptocratic networks will require more efforts. Iraq needs a paradigm shift and the realization that these problems are not just structural but also cultural. There must also be a strong spread of the media with convincing data to clarify the scale of corruption and its negative impact and build an enabling environment for change. Ended / 25 z

Almaalomah.com

The central bank signs a memorandum of cooperation with the Securities Commission

Baghdad Times – The Central Bank of Iraq signed this morning, Tuesday, a memorandum of cooperation with the Securities Commission. The bank said in a statement received by “Baghdad Times”, that “the memo included the possibility of exchanging the information available and available with the Central Bank and the Securities Commission, in addition to coordination in the field of legislation and regulatory and regulatory standards for bodies subject to the control of both parties.

Baghdad-times.net

Parliamentary Integrity announces the preparation of lists to return smuggled money abroad

Gilgamesh Press / Baghdad – The Parliamentary Integrity Committee announced today, Thursday, the preparation of lists to recover money smuggled out of Iraq.

“The committee has a complete list of the smuggled money, containing the names of the people and the funds that are located outside Iraq,” said the committee’s decision, Abdul Amir Al-Mayahi.

He added that “Iraq has a lot of money abroad, some of it frozen and the other with dishonest hands.”

He pointed out that “the Corona pandemic prevented the movement of those funds,” pointing out that “the Integrity Committee summoned the head of the money recovery department outside Iraq to find out what before and after 2003 of the money, and after the end of the pandemic, the file will be fully followed up.”

Glgamesh.com

The central bank is likely to exchange employee salaries early next week

The Central Bank of Iraq, says…

(1) it is likely to pay the salaries of employees at the beginning of next week, while referring to the insurance of employee salaries for the months of July and August and September.

The Director General of Accounting at the Central Bank, Ihsan Shamran, said in a statement reported by the official Iraqi News Agency “Conscious” and viewed by him / the information / that

(2) “re-deduction of bonds in favor of the Ministry of Finance by about 8 trillion dinars”, indicating:

(3) “the bonds will enable the Ministry of Finance to secure employee salaries For the months of July, August and September.

(4) Shamran added, “The Central Bank made it easy for the Ministry of Finance to process the debt repayment for a period of 10 years,” noting that

(5) “the Ministry of Finance can receive money from banks.”

(6) He suggested, “Paying employees salaries at the beginning of next week,” pointing out that “there is a major role for the central bank in facing the current financial crisis.”

Almaalomah.com

G.T. ~ The EARLY PART of Next Week !!!

Let’s See if We Have a NEW RATE Attached To The Payroll (Increased Purchasing Power For The Iraqi Employees)

New Iraqi leader tries to rein in Iran-backed militias, but task proves daunting

BAGHDAD — A raid ordered by Iraq’s new prime minister on militiamen accused of planning an attack against Baghdad’s international zone could mark a turning point in his government’s efforts to bring Iran-backed groups to heel.

The arrest of 14 members of Kataib Hezbollah late last month marked the boldest move yet by any Iraqi leader against the Iran-linked militias, which often operate in Iraq outside the law. Prime Minister Mustafa al-Kadhimi, who took office in May, has vowed to halt their attacks on foreign forces in the country, primarily U.S. troops.

But the response of the powerful militia to the June 26 raid underscores how challenging it will be for Kadhimi to recast the relationship between Iraq’s government and some of the country’s armed groups.

After gunmen in pickup trucks cruised Baghdad’s Green Zone demanding their comrades’ release, most were let go, and then welcomed back to the group’s headquarters as heroes. Television stations linked to the militias live-streamed the men burning American flags and stamping on photographs of Kadhimi’s face.

“Does it become remembered as a humiliation of the militias, because the government had the temerity to arrest their guys like they’re a bunch of criminals, or does this get remembered as the day the militias drove around the international zone like they owned it and took their guys back from the government?” said Michael Knights, a senior fellow at the Washington Institute for Near East Policy. “That’s the question.”

Iraqi militias, including a few with close ties to Iran, played a crucial role in fighting the Islamic State group in Iraq starting in 2014, and many are now an official part of the state security apparatus, receiving salaries and weapons from the government.

But some of the groups, known as Popular Mobilization Forces (PMF), have resisted giving up their autonomy, and militants from Iran-backed militias have repeatedly launched rocket attacks on military and diplomatic locations housing U.S. personnel, prompting American frustration over the Iraqi government’s failure to rein the groups in.

As the U.S. and Iraqi governments prepare for fresh talks on the state of their relationship, the presence of U.S.-led coalition troops and the security of those forces are at the top of the agenda. Last year, a rocket attack that killed a U.S. contractor brought the United States and Iran to the brink of war on Iraqi soil.

Immediately after becoming prime minister, Kadhimi addressed militia leaders and fighters and warned of forces trying to harm the PMF’s relationship with the government, a veiled reference to attacks on U.S. forces by Iran-backed groups.

But the rocket attacks have not entirely stopped. So Kadhimi ordered the raid on Kataib Hezbollah, saying he had intelligence suggesting the group was preparing to strike the Green Zone.

Iraq’s special forces were notified early in the morning of an imminent mission. By the time their orders came down hours later, they had already guessed the target, according to a member of the special forces. “To be honest, we were excited. It’s about time someone moved against them,” he said, speaking on the condition of anonymity because of the sensitivity of the issue.

He said the special forces encountered no resistance. “This is a new era. They learned that attacks will have consequences,” he said.

Within hours, the armed militiamen responded, showcasing how easily they could enter the heavily guarded Green Zone and demanding the suspects’ release. All but one were let go, with the judge citing insufficient evidence.

But no rockets have landed near Western military or diplomatic facilities since then.

“It’s inconceivable that this would have happened nine months ago,” Knights said. “If this happens again, which I think it will, well, that’s the real test. Next time, [the militia will] be a lot more ready to hang on to their guys.”

Although Iran remains powerful in Iraq, Tehran’s allies have suffered various setbacks over the past nine months, Knights said, including the loss of Abu Mahdi al-Muhadis, who had led the PMF, in the U.S. drone strike in January that also killed a top Iranian commander, Gen. Qasem Soleimani. The militias were also blamed for violently repressing protests in Iraq’s mostly Shiite Muslim south.

Against this backdrop, Kadhimi made a gamble by raiding Kataib Hezbollah, challenging a group that is rarely confronted.

“They probably thought that Kadhimi was all talk, and this raid sent a different message out: that he is willing to back up his talk with these actions,” said Sajad Jiyad, a visiting fellow with the European Council on Foreign Relations. “There is rhetoric on both sides, but on the ground, I think that Kataib Hezbollah will be very careful going forward.”

In a statement Monday, Kataib Hezbollah’s secretary general emphasized its autonomy and rejected calls that the group hand over its weapons to the state, saying they should be used in the service of an Islamic resistance movement that includes other Iran-linked groups in Syria, Lebanon and farther afield.

But this rhetoric aside, Jiyad stressed that the group partly derives its legitimacy with supporters from being part of the official Iraqi security forces.

“Remember, these are meant to be government forces led by the commander in chief. They cannot suddenly find themselves in complete opposition,” Jiyad said. “For now, I think that both sides are taking stock.”

Other PMF militias were more restrained in their reaction to the raid, suggesting they wanted to distance themselves from actions that might be seen as antagonistic to the Iraqi government.

“I think more-established players see which direction the wind is blowing,” said Inna Rudolf, a research fellow at the International Center for the Study of Radicalization and Political Violence at King’s College London. Leading PMF figures have recently signaled their discomfort with the parallel authority some Iran-linked groups maintain, she said.

Western officials and analysts focused on Iraq say the coming months will be pivotal for Kadhimi’s efforts to curb the unruliest behavior of some militias.

There are few indications that Kadhimi is seeking to fundamentally reform the PMF or weaken its official position, which is governed by a law outlining the status of the militias and the remuneration its members receive. Many of the militias have a popular following and representatives in the parliament, and continue to play a security role across swaths of the country.

“The ball is in the militias’ court now, really,” said one Western diplomat, speaking on the condition of anonymity because he was not authorized to speak to the media. “If they choose to lob some more rockets, then Kadhimi really has to come through and back this up. Otherwise, the moment is gone. They’ve won.”

“Has he overplayed his hand?” asked another Western official. “Time will tell.”

Washingtonpost-com.cdn.ampproject.org