International Security issues a decision to release Iraqi funds seized in Switzerland

BAGHDAD – Justice Department announced on Tuesday that the UN Security Council passed a resolution to launch Iraqi funds reserved for the Swiss government.

According to a ministry statement / balance News / copy of it, received the “Minister of Justice Salar Abdul Sattar Mohammed received in his office Today, the Swiss ambassador to Iraq, Lucas Jacir, discussed ways to enhance joint cooperation between the two sides, especially the possibility of signing a memorandum of cooperation between the Iraqi and Swiss ministries of justice to exchange legal expertise and judicial notifications to develop the capacity development of the ministry’s staff. In the near future”.

The minister called, according to the statement, to “the importance of serious cooperation between the two countries, which would contribute to strengthening frameworks and exchanging experiences, including signing a memorandum of cooperation between the two parties in the near future to serve the interests of the two friendly peoples.”

The statement stated, “The two sides also reviewed the discussion of releasing sums of money belonging to the Iraqi government seized by the Swiss government, and the demand to lift the seizure of these funds and return them, knowing that there is a resolution issued by the UN Security Council to release these sums.” .

And he indicated, “The participation of the Republic of Iraq in writing the national human rights plan prepared by the ministry and the rest of the ministries represented in the national committee for writing treaty reports, which will be held in the ninth month of this year in Geneva, was discussed.”

For his part, the Swiss ambassador expressed his great thanks to “the minister for his great cooperation and warm reception,” expressing his country’s readiness “for cooperation between the two parties, in the field of exchanging experiences and the possibility of signing a memorandum of cooperation between the two sides in the near future.” A43

Mawazin.net

The Central Bank sells the dollar at the official price for several categories

Baghdad – The Central Bank of Iraq announced, on Monday, that it provides facilities to citizens wishing to obtain foreign currency for the purposes of travel, study and treatment abroad, by selling it at the official price.

The bank said in a statement that “Economy News” received a copy of it, that “for the purpose of facilitating the procedures for citizens to obtain foreign currency (dollars) for the purposes of travel, study and treatment abroad, the Central Bank of Iraq announces that all their requests to buy dollars for the above purposes will be met.”

He added, “The process is carried out by feeding electronic payment cards (MasterCard and Visa Card) at the official price set by the Central Bank of Iraq.”

Economy-news.net

AL-KAZEMI ASSURES OF PROVIDING ENVIRONMENT FOR COMPANIES TO INVEST IN IRAQ

Baghdad / National News Center… Today, Friday, Prime Minister Mustafa Al-Kazemi affirmed to French President Emmanuel Macron that the appropriate environment is provided for the work of French companies and investment in Iraq, while the latter renewed France’s readiness to provide various aspects of support that the Iraqi government needs in preparing for early elections.

The media office of the Prime Minister said, in a statement received by the “National News Center”, that “Al-Kazemi received a phone call from French President Emmanuel Macron, during which they discussed bilateral relations between the two countries and aspects of joint cooperation between Baghdad and Paris.”

During the call, Al-Kazemi stressed, according to the statement, “Iraq’s close historical relationship with France, and its positive attitudes towards regional issues,” praising “France’s role and support for Iraq in the war against ISIS terrorist gangs.”

And he indicated the importance of “developing bilateral cooperation between Iraq and France in various fields, especially economic and cultural, as well as providing the appropriate environment for the work of French companies and investment in Iraq.”

For his part, French President Emmanuel Macron reiterated his “support for the Iraqi government, and Iraq’s democratic experience in light of the challenges it faces,” stressing France’s readiness to “provide the various aspects of support that the Iraqi government needs in preparing for early elections, and its support for the UN resolution to send observers to support the work of the Electoral Commission.” “.

President Macron commended Iraq’s “regional role in converging views,” expressing “his optimism that Iraq’s growing role in this field will have a sustainable impact in achieving stability, whose effects will be positively reflected on all parties.”

The two sides agreed, according to the statement, to “continue communication between them, in order to coordinate positions towards regional and international challenges and crises, in a manner that serves the endeavors to resolve conflicts and bring views closer.”

Nnciraq.com

For fear of protesters storming Parliament, Al-Halbousi prevents questioning the Minister of Finance

Today, an informed political source revealed that Parliament Speaker Muhammad al-Halbousi prevented the questioning of Finance Minister Ali Allawi, for fear that the minister would reveal dangerous files and documents.

The source said, “Finance Minister Ali Allawi requested that his questioning be conducted in the Iraqi parliament remotely and from outside Iraq, and that the session be public and broadcast on the air, because he intends to present dangerous documents and evidence that will make the demonstrators storm Parliament, because of the files and evidence of major corruption cases.”

And he indicated that “this matter prompted Parliament Speaker Muhammad al-Halbousi to withdraw from the questioning of Allawi, despite the appointment of the interrogation session, and al-Halbousi is currently working to push the fireball against him and in secret he is pushing deputies from Shiite political blocs to confront the Minister of Finance.”

Aynaliraqnews.com

Faisal Dijla: The approval of the oil and gas law was enough to reduce the crisis between Baghdad and Erbil

Dijlah.tv

The Federal Court gives the green light to prosecute more than 20 deputies accused of corruption

Economy News – Baghdad: The Federal Court’s recent decision to revoke the immunity of members of the House of Representatives granted the judiciary permission to prosecute more than twenty deputies accused of financial and administrative corruption, without referring to Parliament. She described this step as “part” of the reform process, after the government, through the Anti-Corruption Committee, managed to arrest a number of people accused of corruption.

Yesterday morning, the Federal Court issued a clarification regarding the immunity of members of Parliament, and confirmed that they have no immunity except when an arrest warrant is issued for an unmarked felony.

In a press release, she stated, “The court decided, by its decision 90 / federal / 2019, on 4/28/2021, to revoke previous court decisions regarding obtaining the approval of the House of Representatives in all crimes against which members of Parliament are accused, whether they are felonies, misdemeanors, or offenses.”

She added: “We decided to limit obtaining the approval of the House of Representatives in one case only, which is the issuance of an arrest warrant for a crime of the type of unmarked felony, except for immunity for members of Parliament.”

And the Federal Court continued: “It is possible to take legal measures against them directly in the event that any of them is accused of a felony, misdemeanor or contravention.”

Bahar Mahmoud, a member of the Parliamentary Legal Committee, says that “the decisions of the Federal Court are categorical and binding on all authorities, and cannot be neglected,” calling for “the abolition of immunity for all three presidencies, just like the members of Parliament.”

She believes that “the immunity that existed means inequality among the Iraqi people before the judiciary,” noting that “immunity should not be aimed at protecting the corrupt and thieves, and it grants MPs or anyone the right to practice corruption.”

In the past, hundreds of arrest warrants were issued against a large number of deputies. The Supreme Judicial Council demanded several times from the Presidency of the Council of Representatives to lift the immunity of MPs accused of stealing public funds.

A member of the Parliamentary Legal Committee added, “There are a large number of members of Parliament who have submitted requests to lift immunity, but they have resorted to candidacy in the elections in order to obtain immunity and to evade legal accountability and protection in an unreasonable manner.”

Article 63 / Second of the Federal Constitution regulates the granting of legal immunity and lifting it from the representative. Paragraph (b) prohibits the arrest of a member during the period of the legislative term unless he is accused of a felony and with the approval of the majority of members. Immunity with the approval of the Speaker of Parliament. Mahmoud stresses that “the number of MPs who will be prosecuted after the decision to revoke immunity is large and that the court’s decision came into effect after its announcement.” Accused of participating. ”

For his part, Tariq Harb, a legal expert, explains that “Article 63 of the constitution talks about arrest, and therefore immunity is limited to arrest for a flagrant felony (the crime punishable by more than five years),” stressing that “this immunity exists in The constitution is restricted and not absolute. ”

Members of the Iraqi parliament enjoyed absolute immunity from all crimes and charges against them, and no judicial or security body has the right to arrest or hold them accountable except after the parliament votes to lift their immunity.

He adds that the Federal Court’s decision “revoked immunity and previous cases that were considered immunity and said it was wrong and incorrect,” adding that “most cases of financial corruption are in accordance with Articles (331) and (341) of the Penal Code. Any deputy accused of these two articles. ”

The specialist in legal affairs adds that “many cases will lead to the issuance of arrest against deputies (…). Twenty deputies may have been arrested based on requests to lift immunity that the Supreme Judicial Council sent to Parliament,” indicating that “their cases are varied and different from Person to person. ”

The Supreme Judicial Council had requested, in a previous statement issued by its media office, to lift the immunity of (21) deputies accused of administrative corruption during their tenure in executive positions.

Harb added, “The immunity has ended for those MPs who were previously asked to lift their immunity, and therefore legal measures are supposed to be taken against them.”

Economy-news.net

The Dutch Disease and Iraq’s Foreign Exchange Rate

By Dr. Zeki Fattah

Economists who studied the reasons for the low per capita growth of GDP in developing countries that rely on revenues from abundant natural resources, (called ‘resource curse’), found it was actually caused not by high exchange rates, but by wrongly conceived economic policies over a long period of time. We will visit this point again at the end of the paper. Meanwhile, and until recently, monetary economists in Iraq explained the fall in the Dinar exchange rate against the Dollar (a change within the expected norm) as a passing event caused by falling oil prices, and trepidation in the markets in the wake of COVID-19. This explanation whilst went some way toward dampening the need for currency devaluation for a while, it didn’t help the Iraqi Government to raise the cash it needed to meet its obligations. Recently, the Government had to reduce the Dinar exchange rate against the Dollar considerably to increase the Dinars it receives from the Central Bank in exchange for the Dollar it receives mainly from oil exports.

Zaki fattah-The Dutch Disease and Iraq’s Foreign exchange Rate-IEN version

The President of the Republic: Iraq has lost a thousand billion dollars since 2003 due to corruption

Baghdad Today – The President of the Republic, Barham Salih, announced today, Sunday, that he submitted a bill (Recovering proceeds of corruption) to recover the stolen money.

He said in a speech today, “The group of Iraq’s oil revenues amounted to a thousand billion dollars, concluded deals with abroad, and that the law works to recover the money that was wasted by corruption.”

He called for “an international coalition to fight corruption along the lines of the coalition against ISIS, pointing to the need to dry up the sources of corruption, because corruption and terrorism go hand in hand, and one condemns the other.”

He promised, “Corruption hinders the opportunities for development and progress, and because of it, the demonstrators came out demanding a country free of corruption, and this imposes on us a serious and firm stand to confront this scourge and not tolerate it for the sake of a capable and capable state free of corruption

Baghdadtoday.news

Advisor to the Prime Minister: 50 trillion dinars outside the control of Iraqi banks

The financial advisor to the prime minister, Mazhar Muhammad Salih, revealed the existence of 50 trillion dinars outside the control of the banking system, indicating that there are reasons that impede private investment and others that have caused the emergence of a “usurious” credit system.

Saleh said in a press statement that the parallel market is still granting its usurious cash loans to the public on very high-cost loan terms, as the annual interest in it is between 50-80%, (which is called obscene interest) and the usurious market is a parallel financial market (unorganized) ) Highly exploited with high risks, but at the same time it has high flexibility in dealing with stagnant cash liquidity by moving the interest-based tool.

Important and vital that is currently trading outside the control of the legal or official banking system, “explaining that”Both scenarios, whether in the formal financial or banking market, or the parallel interest-based market (informal and unorganized) have made it difficult for the public to obtain credit or loans, whether at reasonable costs or conditions, especially loans that are commensurate with the average income of the general social class that needs money.

Pushing the monetary policy to really go to (direct quantitative) intervention in the official credit market by adopting credit facilitation policies and supporting the market with very easy and low-cost loans, most of which were provided (within the initiative of the Central Bank of Iraq), whether in the form of housing loans through the government real estate credit apparatus (the Real Estate Bank and the Housing Fund) ) Or in the form of supporting economic activity with small, medium and large loans in various economic fields.

He concluded by saying, “The liquidity obtained from these bonds will help, as they are excellent debt instruments, in activating the granting of credit, especially to small borrowers, on easy terms through banks or digital financial companies and others. Small or microfinance. ”

Dijlah.tv

A new statement from Rafidain Bank regarding deposits and profit rates for citizens

Baghdad: On Friday, Rafidain Bank decided to increase the fixed deposit interest rate for citizens who deposit their money in the bank.

The bank’s media office said in a statement that Nass received a copy of it (May 14, 2021), that the management “decided to increase the interest rate on deposits for a period of six months to 4.5 percent.”

The statement added, “The decision included increasing the interest rate on fixed deposits for a period of one year to 5.5 percent,” noting that “increasing the interest rate on deposits for a period of two years to become 6.5 percent

Nasnews.com