The bank denies the transfer of some social media to the smuggling of the Iraqi currency.

The bank denies the transfer of some social media to the smuggling of the Iraqi currency.

(Press release) The bank denies the transfer of some social media to the smuggling of the Iraqi currencySome social media outlets broadcast a video clip showing some categories of the Iraqi currency in boxes marked with the name of the Central Bank of Iraq, which provoked a crackdown on smuggling of the Iraqi currency. While the bank denies any smuggling operation, it would like to state the following:

1. The funds offered do not belong to the Central Bank, and differ from the special funds in the Iraqi currency in terms of shape, color, material and size.

2. The Central Bank followed up with the security authorities, the Ministry of Foreign Affairs and embassies of the countries mentioned in the video clip. Note that there are previous cases proved by the search, by the security services, not completely correct.

3. So far, these papers have not been found and have not been publicly displayed in any country, and the current investigations have proved to be only pictures and films.

4. The central bank prints its currency in the global printing houses, and monitors its production, from the paper making to the final version, according to tables and serial numbers to check every stage until it is received in Iraq.

5.We warn of the confusion that is taking place with the aim of undermining the country and its successful institutions, including the Central Bank. The sooner one of these institutions succeeds domestically and internationally, the more they come under such slander. The attack comes in line with the announcement of the bank’s growth of reserves and control of the exchange rate, in order to reduce this success.

Finally, the central bank calls on all media to be careful in dealing with the news, because inaccurate news has negative effects on the stability of the banking and financial system in Iraq.

Central Bank of Iraq

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Parliamentary Finance: The budget will be different orientations within the next year

Parliamentary Finance: The budget will be different orientations within the next year

Parliamentary Finance: The budget will be different orientations within the next year

Al-Ahed News – Baghdad: The Finance Committee of the parliamentary, on Sunday, an agreement with the Ministry of Finance to send the budget for 2020 at the scheduled date, indicating that it is continuing to hold meetings with the government to include all items of the budget by consensus.

“The Ministry of Finance has assured us during several meetings to send the 2020 budget in October, the legal date specified,” committee member Haneen al-Qaddu said in a press statement.

He added that “meetings between the Finance Committee and the representative of the government departments are continuing to identify the needs and include them within the federal budget.”

He explained that “the budget will be different orientations within the next year to represent the economic openness of the government to invest and increase the financial resources alternative to oil.”

Alahadnews.net

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National Union: Baghdad and Erbil agreement on the outstanding issues before the submission of the budget 2020

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National Union: Baghdad and Erbil agreement on the outstanding issues before the submission of the budget 2020

Baghdad – The bloc of the Patriotic Union of Kurdistan in the House of Representatives, on Sunday, the need to reach the governments of Baghdad and Arbil to agree on the outstanding issues before the submission of the budget 2020.

The head of the bloc, Joan Ihsan, said that “the recent visit of the delegation of the Kurdistan region to the capital Baghdad was a positive step And very good, and indicate the intention of the Kurdistan Regional Government and the federal government to resolve the outstanding problems.

She added that “the House of Representatives will be after the legislative holiday to discuss the preparation of the budget year 2020.”

“It is possible that the Kurdistan Regional Government and the federal government to reach a comprehensive agreement on all outstanding problems, especially financial ones.”

Mawazin.net

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The second episode reveals the crimes of the largest gang smuggling and money laundering in Iraq

The second episode reveals the crimes of the largest gang smuggling and money laundering in Iraq

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BAGHDAD – MP Ali Nassif revealed on Saturday the existence of more evidence and documents to the Inspector General of the Ministry of Interior Jamal al-Asadi covering corruption cases in the ministry, including smuggling and money laundering by officers close to him.

“The corrupt people whom Interior Inspector General Gamal al-Asadi has covered all their cases have been sued for exploiting them in several courts, and they have all cases of smuggling,” she said in a statement received by Mawazine News.

Nassif explained that “there is a file about a money exchange company named Madaya, which belongs to the logic of Musa Fares, Major General Ali Adnan and Brigadier General Mustafa Kamal, and this company takes out the amounts belonging to them through the drivers of the Amman line in their car and in agreement with people in customs and ports, “The director of Madaya financial transfer company is originally wanted for terrorism in Basra, and there is a file proving that they have entered shipments through a road controlled by an organization calling and paid money to the terrorist organization in return for the transit of their shipments through Mosul.”

She added that ” Naseef confirmed that “among the files that condemn this gang is the seizure of containers that are supposed to contain (iron bars) imported to the state departments and it turned out that this is not true. There is also a complaint from a citizen who exploited their influence and seized his property by force. The same group referred the cases to others. The same group used a military force to arrest people in the market of the Mamul compound in the Karm Sarah area. The operation was carried out for the benefit of the defendant Nateq and the persons arrested were his rival merchants. Ransom of these traders in return for the launch of Q Raham “.

Nassif added: “The fourth dimension company is the company with the investment license, which used papers Nateq and Ali Adnan in counterfeiting, as the container comes from outside Iraq on behalf of Anwar Al-Faris, and inside the port they write a concession on containers from Anwar Al-Faris to the fourth dimension company who forged Investment papers, to falsify customs treatment and exempt from customs and tax. ”

She explained that “the spokesman Moussa Fares so far 15 lawsuits have been blocked because it is supported and protected from important people, and is currently moving between Baghdad and Erbil and Spain, and smuggled materials are now in stores large quantities, some in the orchards in the neighborhood of the people.”

Nassif said that “the files that condemn this gang were handed over to the former inspector general of the Interior, who issued measures against them through the special investigative committees he formed, and with the capacity of the inspector was transferred to another place was brought to the new inspector Jamal Asadi substitute, , Then the members of the previous investigative committees were punished, and Major General Ali Adnan returned to his position as Director-General after being punished and exempt from his post. ”

She went on to say that “a person with files condemning this gang came from outside to Baghdad airport to be handed over. The inspector group went to him and took the files from him, but unfortunately the matter was also filled because the Inspector General seems busy busy fabricating the crimes of innocents and chasing them through his cell. That he achieved an achievement to whiten his page. ”

Naseef concluded by saying: “This information is all supported by the documents and evidence that we put in the hands of the Prime Minister and the Commission for Integrity and Public Prosecution to be necessary.”

Mawazin.net

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The International Monetary Fund urges Morocco to proceed with the floating of the Dirham

The International Monetary Fund urges Morocco to proceed with the floating of the Dirham

On Tuesday, the International Monetary Fund (IMF) reiterated its call for Morocco to move forward to increase exchange rate flexibility, with the aim of enhancing the economy’s resilience to external shocks and enhancing competitiveness.

In January 2018, Morocco expanded the dirham exchange rate against foreign currencies to 2.5 percent of the reference price, from 0.3 percent.

“The first phase of the transition to greater exchange rate flexibility has been successful, and the current conditions are still favorable for pursuing this reform for preventive purposes, as it will help the economy absorb potential external shocks and maintain its external competitiveness,” the IMF said in a report on economic and financial developments in the country. “He said.

The authorities informed the International Monetary Fund that the next phase of the dirham flotation would be launched when economic conditions allowed.

The central bank has not intervened in the foreign exchange market since March 2018.
The IMF also called on the authorities “to continue financial consolidation to maintain debt sustainability while protecting priority investments and social spending over the medium term.”

Rawabetcenter.com

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www.TheDinarExchange.com

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The global economy should avoid recession

The global economy should avoid recession

Capitals/agencies – The World Economy needs to avoid “self-harm” that could lead to economic stagnation, the International Monetary Fund (IMF) has said.

“The time has come for the world to avoid causing stagnation, and that means dealing with trade and technological tensions through dialogue so that there is no self-harm, but also a willingness to respond if the economy slows down,” Acting IMF Chief David Lipton said in a press release.

Concerns about global trade tensions have once again focused on how central banks might stimulate the economy.

In its latest forecast, the IMF believes the global economy will grow by about 3.3 percent this year.

Lipton noted that in the event of a global recession (although the IMF does not expect this), central banks and governments should be prepared to deal with monetary and financial policy.

“We don’t have expectations of a recession, but in light of trade and technological tensions and financial markets, weaknesses are rising,” he said.

Alsabaah.iq

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Massacre” of the dollar in Iraq … Official movement against fraud at the auction “Central”

Massacre” of the dollar in Iraq … Official movement against fraud at the auction “Central”

"Massacre" of the dollar in Iraq ... Movement against fraud by auctioning "central"

The auction did not support the value of the dinar (AFP)

Baghdad – The file of the “auction of hard currency” in Iraq to the forefront after the comments of deputies in parliament, demanding the Prime Minister and the Supreme Judicial Council and the public prosecution in the country, put an end to the massive corruption carried out through the auction of hard currency organized by the Central Bank of Iraq every day.

The bank sells between 140 million and 160 million dollars for public and private companies and banks, as part of a plan adopted since 2004 to control the exchange rate of the Iraqi dinar and prevent its collapse in the market.

In 2004, during the Coalition Provisional Authority formed by the United States after the US-British occupation of Iraq, the Central Bank of Iraq established the so-called “daily auction of hard currency,” in an effort to raise the value of the Iraqi dinar, and sales amounted to more than 200 million dollars Sometimes this amount is usually from Iraqi oil revenues sold.

The auction has continued this way since. Iraqi observers and officials estimate the value of the dollar sold in this auction over the past 15 years by more than $ 300 billion, most of which went from Iraq to other countries without benefiting the Iraqi dinar and its value, which is still under the logic of the fifth largest oil producer in the world (1200 dinars per dollar).

The Central Bank of Iraq allows only limited companies and banks to enter the auction and buy the dollar. The word “auction” here is not a metaphor for what is happening on a daily basis, as the bank pre-determines its selling price to the dollar by 1180 dinars per dollar for banks and companies to sell at 1200 dinars to the dollar. Finally, the bank specified who is allowed to enter the auction, and the number was reduced to less than 50 banks and financial companies that are licensed by the Central Bank of Iraq and all are private or private.

A senior Iraqi official in Baghdad told the “New Arab” that the government is considering the dollar auction, which turned into a black hole to smuggle the dollar out of the country without achieving its goal of strengthening the strength of the dinar. He added that “Iran is the first beneficiary of the dollar auction, followed by Turkey, Lebanon and Jordan The conversion of the dollar is under the cover of the import of materials and goods and the purchase of shares and investments in those countries and some of them transferred through private offices and the Iraqi citizen does not benefit from this massacre.

The official stressed that the government is considering several options to strengthen the dinar, such as the deletion of zeros or determine the price globally, as do many countries in the Arabian Gulf. The survival of the dollar inside Iraq is better than removing it, and the continuation of this primitive formula cost the country large losses.

He pointed to the existence of a committee of experts studying reasonable options, after confirming documents and documents that Iraqi oil money in hard currency easily flow abroad because of this auction.

The Iraqi official revealed that the Integrity Commission is currently investigating the largest case of money laundering in Iraq up to two billion dollars accused of banks and companies, some of them linked to political parties “and we hope that there are other files close to the search and investigation of the Integrity Commission on the same subject, Difficult of Iraq “.

Expert on the Iraqi market for securities Ali al-Saadawi explained to the “new Arab”, that “stop the auction may not be able to the government now that a large part of the dollar ends in Tehran,” saying that committees, experts and financial observers advised the Central Bank to stop the auction, “He said.

In contrast, accused the Iraqi parliamentarian Alia Nassif, the Iraqi banks did not call the exploitation of the auction sale of currency in ways that twisted to achieve rich rich at the expense of the Iraqi people, “according to a statement issued on Wednesday She said the statements of former Finance Minister Hoshyar Zebari said that there are six billion dollars disappeared and Turning it into a fictitious account. It is now time for regulators to retrieve stolen people’s money and pursue corrupt people. ”

And called on the Prime Minister to prosecute what she described as “whales of corruption,” promising to open the file of the auction of hard currency to the prosecution, “and that it has” all the evidence and information to expose these thieves. ”

In contrast, a member of the Finance Committee, Majida Tamimi, people said that they belong to Political corruption department in the Central Bank, and vowed to disclose corruption files belonging to government banks soon.

Alaraby.co.uk

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The central bank goes beyond the technical gap and the challenges of digital transformation

The central bank goes beyond the technical gap and the challenges of digital transformation

With the utmost confidence and confidence in the ability of the Iraqi financial and technical cadres to overcome the challenges of the technical gap that Iraq has suffered due to the repercussions of the siege, wars and instability during the period of the information revolution.

The Governor of the Central Bank of Iraq, in his opening speech at the Digital Transformation Forum in the financial sector, held in Baghdad with the joint cooperation between the Association of Iraqi Private Banks and the Jordanian-Iraqi Economic Association, in a broad presence of the Jordanian specialized companies, which exceeded 30 companies led by the Jordanian Minister of Digital Economy and Entrepreneurship, And the measures taken by the Central Bank to overcome them and to stand in the right direction in the near economic and security conditions suffered by our country during the past years and chart a sound road to catch up with technical developments in the countries of the world.

The follower of the situation of Iraq during the past five years shows the extent of faith in the capabilities and competencies of Iraq on the events of change and bridging the technical gap between us and the developed world and this is evidenced by the achievements of the important and as follows:

1. The methodology adopted by the Central Bank has always focused on working under a sound legislative, regulatory and legal framework, as well as promoting the concepts of governance and international standards regarding information technology and financial techniques.

2. Issuance of the electronic payment system for funds No. 3 of 2014, establishment of the National Payments Council, corporate governance and corporate governance regulations for information and communication technology, and legal regulations and regulations governing the operation of banks and electronic payment service providers.

3 – The Central Bank plays a central role in the establishment of advanced infrastructure and pursuit of the latest global technologies and the development of the bank’s financial and banking systems and payment systems and advanced communications networks according to the latest technologies.

4 – the possession of the central bank for advanced payment systems as well as payment structures retail and was the national division of the most important parts.

5 – Granting work permits to many electronic payment providers (card issuers, collectors, processing of mobile payment companies, bill payment and payment gateway through different channels).

6 – Extensive attention to the implementation of the first objective of the strategy of the Bank for the years (2016-2020) is to achieve financial stability through a sound financial system with attention to achieving financial inclusion and reduce risks as well as the adoption of the project to settle the salaries of employees.

It is clear from the above achievements that the Central Bank has overcome the challenges of the technical gap due to the siege, occupation and terrorism. It is currently at a steady pace to achieve the digital transformation in the financial sector towards achieving financial stability and moving from the monetary society to the society of money. It is also one of the objectives of the government platform in the fourth axis ).

Bank advisor
Samir Al Nusairi

Economy-news.net

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Deputy: Auction sale of currency outside the control of the Central Bank

Deputy: Auction sale of currency outside the control of the Central Bank

Baghdad  – The auction of currency outside the control of the Central Bank, between the latter sells 150-200 million dollars on a daily basis. “There are problems and irregularities recorded on the sale of the currency by the Central Bank as well as the currency exchange rate, which is often moving and unstable in most cases,” pointing out that “any candidate for the post of governor to sit with the Finance Parliamentary to discuss these two things” .

Representatives of different blocs and components often speak of a uncle The Supreme Judicial Council has decided to set up a judicial investigation body in 2015 to look into documents relating to money laundering operations, but has not yet announced the results of its investigations.

The deputy for the province of Dhi Qar that “there is a complete conviction is available in the parliamentary finance confirms the existence of corruption in the window selling the currency because of the way of selling the dollar and the parties dealing with the Central Bank.”

Al-Saadawi proposed “solve the problem of selling the currency and reduce the phenomenon of corruption by monitoring all banks Al-Ahlia and banking companies in the issue of selling the currency, “pointing out that” the Central Bank’s sales of the dollar range from 150 to 200 million dollars on a daily basis.

“He said that” there are annual reports, quarterly and monthly, received by the Finance Committee of the Parliamentary Bureau of Financial Supervision and Integrity Commission since 2014 confirms the existence of manipulation and practical Major corruption in the window of selling the currency, “adding that” these reports indicate the lack of control of the central bank management on the window selling the currency. ”

Iraqakhbar.com

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