The scandal of the sinking of 7 billion revealed!!

360 billion dollars evaporated in 8 years of Maliki’s rule with the help of links!
The most important files of corruption: the fall of Mosul and the satellite and the central bank and the sale of the dollar and private banks and oil and armaments

The 7 billion dinars drowning scandal in Rafidain Bank has not been the scourge of a corrupt political regime led by the Dawa Party for 12 years since Nuri al-Maliki appeared on the surface of political life in Iraq.

But the scandal of the seven billion was the cover that was revealed and pushed everyone in Iraq and abroad to bring back the holes in the files of theft and corruption, inside Iraq over the past years.

Continuing corruption

Transparency International figures show that corruption in Iraq and the official regime have caused the waste of 360 billion dollars of Iraq’s budget in 6 years, more than theft and looting and the seizure of more than 40 billion dollars annually!

At the beginning, in 2007, when Iraq and with the support of the United Nations decided to form a “joint anti-corruption council in Iraq” and then named Mohsen Ismail Al-Alaq, the current Governor of the Central Bank, as its president, 2010-2014 “. And the membership of this Council consists of: the Council of Representatives, the judiciary, the Office of Financial Supervision and the Integrity Commission and the Office of Human Rights and provincial councils, and that the Council is subject to the control of civil society and the media. The beginning of the work may be decided in 2010. Ali al-Alaq occupied between 2006 and 2014 the post of Secretary-General of the Council of Ministers, ie throughout the period that was Nuri al-Maliki as prime minister, and was practically his secretary and approved, which appointed by the governor of the Central Bank Agency and then Asala .

For four years, this Council has not exercised its work and has effectively thwarted the national anti-corruption strategy that the United Nations has contributed to its development.

In 2014, Haidar al-Ayadi, the new prime minister, decided to be chairman of this joint council, and Ali al-Alak would have a membership with other members of the membership. But what happened during the period of the relationship as Secretary General of the Council of Ministers 2006-2014, in addition to his presidency of the Joint Council for Combating Corruption between 2007-2014? The information available on this period in the area of ​​financial and administrative corruption – according to a lengthy report published by Middle East Online – indicates that it was the widest and most corrupt period in Iraq’s current history. “According to the Finance Committee in the Iraqi parliament – the corruption of corruption in Iraq loss of three hundred and sixty billion dollars between 2006 and 2014, as confirmed by Transparency International in the inclusion of Iraq among the worst six countries in the world corruption.

The head of the Finance Committee in the House of Representatives, Dr. Ahmad Chalabi, who died suddenly and is referred to the possibility of death after the statements, the responsibility of the repercussions of the collapse of the financial structure of the country’s former government and the Central Bank and described as “gangs” controlling the market price, The economic period is the period from 2006 to 2014, when Iraq entered $ 551 billion, the government imported a total of 115 billion dollars, and the central bank sold $ 312 billion to the private banks, adding that “the amount that was wasted ($ 312 billion) Critical. ”

Political parties

Chalabi also revealed that “political parties are pressing the central bank to increase allocations of banks auction for amounts and there are notes within the Central Bank of the names of these politicians from the House of Representatives and the government.”

The former head of the Integrity Commission, Judge Rahim Al-Ajili, also wrote that the thousands of fake and failed projects worth $ 228 billion were deducted from Iraq’s budget.

Lining corruption

As the head of the former Integrity Commission, Mr. Musa Faraj, points out that the most dangerous types of corruption are “the corruption of the lining surrounding the former Prime Minister Nuri al-Maliki and protecting them, and I said in an interview with Al-Hayat newspaper: The General Secretariat of the Council of Ministers is the focus of corruption in the Iraqi government … And the head of the Integrity Committee in the House of Representatives, which reached through the quota of the notorious, has entered under the mantle of Maliki in a corrupt deal to protect himself and his brother and influential from his party, I was prosecuting cases of theft And the smuggling of accused oil “On the other hand, the Presidency of the Judicial Council was implementing the wishes of the Prime Minister and his unit, while the face of corruption through the Integrity Commission is completed only through the judiciary ..”.

And before the removal of Nuri al-Maliki from the presidency of the Council of Ministers and during the conflict over the office threatened more than once saying, “I have files I will put in the hands of the judiciary for eight years, which I was prime minister and I will announce in court and the perpetrators of the masters and elders and sons of references and officials of Shiites and Sunnis to the courts to take their fair punishment, “I am the son of the first martyr, the martyr, I do not fear, and God is with me and the evidence is with me, God willing.” But Nuri al-Maliki did not put any file in his possession at the disposal of the Iraqi judiciary, and the Iraqi judiciary did not dare to claim these files and not accountable for not Progress Because hiding any file of corruption is considered an active participation in corruption.

The information available indicates that there are many files that need to be opened and submitted to the Iraqi judiciary and the public prosecution to confront Prime Minister Nuri al-Maliki and former Secretary-General of the Council of Ministers, Ali al-Alaq, currently Governor of the Central Bank. The most important of these files are: the fall of Mosul, the satellite, the central bank and the sale of dollars and private banks, oil, armament, explosive and weapon detectors, military operations against Anbar and Falluja 2011, 2011 demonstrations in Tahrir Square and other parts of Iraq, Iraqi aircraft in Russia, a file to raise hostility and sectarian antagonism in Iraq, Ahmed Nuri al-Maliki.

The truth, experts say, is that this dark period of Iraq’s history must be thoroughly cleaned and that the corruption papers must be rotated with all force. Iraq is a country and not a special place for corrupt people. But the question is, can Adel Abdul Mahdi’s government do this? Can you deal with corruption ?!

Source: Thebaghdadpost.com

Security official reveals: Green will not open for this reason

BAGHDAD / A security official revealed on Sunday why he did not open the “fortified” Green Zone in front of citizens, while stressing that this decision will not see the light.

“The decision to open the Green Zone is not deliberate, and was rushed by Prime Minister Adel Abdul-Mahdi, and this decision will not be published during the coming period for many reasons,” the official told Iraq News.

“For these reasons, the Green Zone can not be adequately protected, especially if there are popular demonstrations. There is fear that demonstrators will enter the state institutions in the region if the streets are opened,” the official said, asking not to be named.

The security official added that “the decision to stop the opening of parts of the streets of the Green Zone, came after the warnings of high security authorities to put the security zone in particular, which includes important government institutions, and other embassies and international missions.”

Source: Faceiraq.net

Blaming the rain for Iraq’s corruption

The latest scam has Iraq’s parliament investigating how $6 million worth of local currency stored in a public bank were damaged by heavy rains.

Iraq, like many Arab countries, is plagued by rampant corruption at nearly all levels of government. Many public servants, from the policeman directing traffic at the corner of the street to the office of the highest authority in the land, are open to accepting bribes.

Every few years we hear of a new government being formed in Iraq, Lebanon or Jordan, to name but a few, whereupon being sworn in the new prime minister vows to fight corruption. Sometimes there is a cabinet post created with the specific task to eliminate corruption.

That is far easier said than done. There are two basic reasons why corruption and bribery are so common in the Arab world.

This is not to say that people in power in other countries are not corrupt. Just look at the price that the US Air Force was once charged for such banal items as a toilet seat or a coffee cup.

However, nothing comes close to the imagination of corrupt Iraqi officials who in all seriousness can blame the rain. Iraq is a rich oil country but is poor when it comes to services the state can provide to its citizens. A key reason is corruption, a source of unending protests in Baghdad and other Iraqi cities.

In the corruption-plagued country, it appears that even the rain can be blamed for corruption and, some Iraqis say, the rain has a mind of its own, a criminal mind. It can enter bank vaults and steal huge sums of money.

The government’s explanations obviously do not wash — no pun intended. The population has been accustomed to politicians and civil servants at all levels finding their way to public money. When they do not believe official arguments and lose trust in the state, citizens take to the streets or, even worse, they can start seeing the state as their enemy.

Poor citizens in filthy-rich countries cannot be expected to provide their rulers with a vote of confidence when banknotes keep on drifting away with the rain.

The latest scam, because this can be nothing but a scam, has the parliament investigating how $6 million worth of local currency stored in a public bank were damaged by heavy rains.

This case has just resurfaced, quashing hopes among some lawmakers that it would just wash away, No such luck. The case drifted around for about five years but it will not go away.

“At the end of 2013, the vaults of the Rafidain Bank were flooded because of huge rains at the time, damaging the bills that were stored there,” said Ali Mohsen al-Allaq, who was head of the Central Bank at the time. “They were worth around 7 billion dinars ($6 dollars),” he said.

He said the Central Bank printed new bills to replace the soaked ones but, because the money had not been in circulation, the only real “loss” was the cost of printing. Seriously?

“The bank governor said the (damaged) bills were destroyed but that answer isn’t clear,” said MP Hoshyar Abdallah of Kurdish anti-corruption party Goran and a member of parliament’s finance committee.

“We have concerns over how water entered the vault. This is a source of suspicion for us. That’s why we will conduct an investigation into this as soon as possible,” Abdallah told Agence France-Presse.

The issue sparked controversy in Iraq. Corruption, shell companies and “phantom” public employees who receive salaries but do not work have cost Iraq the equivalent of $228 billion since 2003, Iraq’s parliament said.

That figure is more than the country’s GDP and nearly three times the annual budget. Any surprise, then, that the country is ranked by Transparency International as the 12th most corrupt in the world.

I mentioned there are two reasons why corruption takes hold in a country. The first is that people believe they are underpaid for the work they do and therefore help themselves to what they consider their just desserts.

Second, the notion of corruption is so embedded in society that trying to rectify the problem will not work. What authorities should do is give up on the older generations who have been raised with the understanding that nothing can ever be accomplished without bribing someone and concentrate on properly educating the young and future generations.

Source: Thearabweekly.com

Iraq’s elite invests hope in Abdul-Mahdi – despite his tangled past

Beyond Iraqi Prime Minister Adil Abdul-Mahdi’s curriculum vitae lies a man seen in various lights by his peers: Indecisive? Moderate? Calculated? Less sectarian? A former Marxist or Baathist? Worldly?

Abdul-Mahdi, 76, inherits a country wracked by four years of war with ISIS, ethnic and religious division, and a battered economy.

“The task is difficult, but easier for him due to his calm, wisdom, commitment to the law, constitution,” says Mahmoud al-Mashhadani, a former speaker of Iraqi parliament. “After the war, we don’t need a political leader with big fans or a military leader. Rather, we need an economist.”

There is an overall sense that although coming from a Shiite party he will be less sectarian and more pragmatic than his predecessors.

“He is approved by all and is loved by all political parties including Kurdish, Arabic Sunni parties. They have a good impression of him. He is also very respected and accepted by the Marja,” says Saadun Fayli, a Patriotic Union of Kurdistan (PUK) Leadership Council member.

Corruption has plagued previous governments; something the United Nations, European Union, and other countries now say they are assisting Baghdad with through initiatives at several levels.

“He is trustworthy and all parties have supported him including the KDP [Kurdistan Democratic Party], PUK, US and other countries. The Shiites also elected him,” says Mustafa Chawrash, a PUK Peshmerga commander.

Abdul-Mahdi’s past shows that he is ideologically flexible. He worked with the right-wing communists after seeing the mistakes committed by the Baathists.

“He was a Baathist in the beginning, and then he adopted a Marxist position which led him to take Marxism to an extreme,” says Arif Tayfur, a KDP Politburo member.

In the mid-20th century many countries faced an internal tug-of-war between right-wing dictatorships and left-wing communism.

“The situation of Iraq was like this at that time. There were communist and Baath parties. There were also some movements. There weren’t too many choices,” says Jalal al-Din Ali al-Sagheer, a former Iraqi MP.

Now, Iraq and the wider region faces religious and ethno sectarianism, wherein nearly every dominant party aligns itself as Shiite Arab, Sunni Arab, or Kurdish in Baghdad.

“I met him in 1961 when he was a Baathist. He was a communist in 1971 and an Islamist in 1981. He is criticized for switching parties. But humans have the right to do so,” says Hassan Alawi, a veteran Iraqi politician and pundit.

Abdul-Mahdi sees it as a normal progression.

“There are no politicians who say something at the age of 20 and that thing stays the same at the age of 60. There are no politicians who said something during an oppressive government or dictatorship to say the same thing when they a partner in the government,” he says.

His predecessor, Haider al-Abadi, was accused by Sunni and Kurdish parties of being inflexible in negotiations.

“There is no one who doesn’t review his stances or doesn’t change his thoughts or doesn’t make mistakes,” added Abdul-Mahdi.

The new prime minister is perhaps most influenced by his father Saeed Abdul-Mahdi al-Muntafiki who was a well-known Iraqi minister and a leading politician in Baghdad and the south. The Munatafikis are the majority in Nasiyirah.

Some of his peers doubt he will be able to reign in the powerful Shiite parties and militias despite his lineage.

“Iraq is in turmoil and full of problems and rivalries. Of those in power at present and in the past, Adil Abdul-Mahdi is more capable than them,” summarized Chawrash.

Source: Rudaw.net

Abadi is a deputy to the president of the republic and Hakim as head of reform

Baghdad / Sky Press – In a deal signed within the reformist alliance supported by Moqtada al-Sadr, the head of the wisdom movement, Ammar al-Hakim, was chosen as head of the alliance while the choice of former prime minister Haider al-Abadi is expected to be vice president.

According to our sources, Abadi is preparing to assume the post of Vice President of the Republic during the coming period, especially after the alliance of reform and reconstruction on the success of the head of the stream of wisdom Ammar al-Hakim as head of the alliance in return for granting Abadi the post of Vice President.

In a statement to coincide with Sky Press, the reform alliance said that “in conjunction with the week of affection and compassion for the birth of the noble Prophet (PBUH), the leadership of the Alliance for Reform and Reconstruction held its meeting to discuss the topics on its agenda, which include the institutionalization of the coalition, The institutional building of the coalition has been chosen Ammar al-Hakim as head of the alliance of reform and reconstruction has been issued the agreement of all parties. ”

Keywords: Skypress.net

Iraqi Dinar May Replace Dollar And Euro In Iran’s 2nd Largest Export Market

Amidst continuing talks between Iran and Iraq over how to settle payments for Iraq’s natural gas imports from Iran in the face of Washington sanctions, Iranian officials are mulling over Iraq’s offer to pay in Iraqi Dinars instead of the dollar or Euro, according to Iranian state media. This follows the September announcement by Iran that it planned to completely ditch the dollar as a currency used by the two countries in the trade transactions.

Iraq was among countries granted a temporary exemption as energy sanctions on its eastern neighbor and regional Shia ally took effect November 5, and since then Baghdad has pushed to process payments for gas and electricity in its own currency of dinars. Iraq is Iran’s second largest export market with a substantial portion of that trade in energy, which cannot cannot easily be structured outside the new sanctions regime.

Baghdad has found itself in the delicate position as a partner of both Washington and Tehran — largely reliant on the former for defense and on the latter for gas and power generation, keeping its economy afloat. Last summer a severe temporary electricity reduction fueled unrest across the south of Iraq. Chronic shortages and a failing Iraqi infrastructure means Tehran has been a key lifeline fueling Iraq’s increasingly desperate needs.

Iranian officials have also recently declared “Iraq is one of our successes” and a “strategic ally” as echoed in a weekend televised broadcast featuring the head of Iran’s Islamic Shura Council, Hossein Amirabedhaleyan. However, as the head of the Iran-Iraq Chamber of Commerce Yahya Ale-Eshagh stated before the latest round of sanctions took effect: “Resolving the banking system problem must be a priority for both Iran and Iraq, as the two countries have at least $8 billion in transactions in the worst times,” according to a September statement.

Meanwhile on Monday Iran’s leadership continued making dubious promises that energy exports will defy all expectations and thrive, with President Hassan Rouhani saying US sanctions are “part of a psychological war doomed to failure”.

“We will not yield to this pressure, which is part of the psychological war launched against Iran,” Rouhani said in a speech broadcast live on state television.

“They have failed to stop our oil exports. We will keep exporting it… Your regional policies have failed and you blame Iran for that failure from Afghanistan to Yemen and Syria,” he added as the crowd he addressed in the city of Khoy chanted “Death to America!”.

Noting that Washington had succumbed to granting temporary waivers to eight major buyers of Iranian oil due to economic realities, he explained: “America is isolated now. Iran is supported by many countries. Except for the Zionist regime (Israel) and some countries in the region, no other country backs America’s pressure on Iran,” according to Reuters.

Iranian officials have vowed to stick by the 2015 Iran nuclear deal in spite of Washington’s aggressive attempts to dismantle it. Foreign Ministry spokesman Bahram Qasemi expressed to reporters he is “hopeful that the Europeans can save the deal” in reference to the EU’s attempts to establish a Special Purpose Vehicle (SPV) for non-dollar trade with Iran. European and other foreign business, however, have still been leaving Iran in droves out of fear of US penalties.

“We expect EU to implement the SPV as soon as possible,” Qasemi said. “Iran adheres to its commitments as long as other signatories honor theirs.”

Reuters reported last week, based on statements from six unnamed diplomats, that the EU had sought to establish the SPV by this month but failed as no country is currently willing to host it. This gives new impetus to current negotiations between Iran and Iraq held this past weekend as the Iraqi president visited Tehran on Saturday with a delegation for a series of talks.

Iran’s Ambassador Iraj Masjedi announced over the weekend amidst the high level talks involving Iraq’s President Barham Salih: “Considering the problems that have emerged in dollar-based banking transactions, a joint proposal between Iran and Iraq is using Iraq’s dinar in trade,” according to Iranian state media. He added that an alternative plan might included using barter mechanisms to carry out imports and exports with Iraq.

Following these meetings Iranian President Hassan Rouhani indicated the two neighbors look to increase their annual trade from the current $12 billion to $20 billion.

Source: Zerohedge.com

DONALD TRUMP SUPPORTERS THINK PRESIDENT WILL MAKE THEM RICH IF THEY BUY IRAQI MONEY

A number of people in the U.S. have bought millions of Iraqi dinars in hopes that President Donald Trump would revalue the currency to make them rich.

Rumors that the U.S. government was planning to set the Iraqi dinar—currently worth .00084 of a dollar—to something equal to or even beyond the dollar predate Trump, going back to the period of Iraqi President Saddam Hussein’s rule before the Gulf War in the early 1990s. The U.S. first took military action in response to his invasion of Kuwait, later sanctioned Baghdad and ultimately unseated the leader in a 2003 invasion, leaving the U.S. in control of a ravaged economy.

As The Daily Beast reported Tuesday, however, this theory has taken on new life under Trump, who some supporters took literally when he promised in April 2017 that all currencies would “be on a level playing field” in response to allegations that China was manipulating the value of the yuan.

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Rebuttal:

The use of the above picture as a RIDICULOUS characterization of the current situation – directed towards eBay and how currency may (or may not) be sold there currently, should cast grave doubt on all of the information in this article.

This is VERY OLD currency no longer valid or in circulation. This is the writing of a single, unscrupulous, private eBayer. This was apparently written before Saddam was deposed. What does a single eBay ad from prior to 2003 have to do with ANYTHING?

Why don’t these shills bother to include the SIGIR report (see page 84) as delivered to the US Congress in their final reporting? Because it would be too factual… and it doesn’t line up with their SLANDEROUS tilt… that’s why.

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In April 2003, exactly one month into the Iraq War, Newsweek’s Sally Atkinson penned this in response to a reader from Lahore, Pakistan, who asked what his 100,000 Iraqi dinars would be worth after the war:

“Sadly, they’re not worth much even now. Before the first gulf war, one dinar equaled about $3. Now one is worth less than half a penny. So your 100,000 are good for only about 50 cents. And they’ll probably be worth even less when the war ends, says Bob Hormats, a Goldman Sachs economist. At some point, the new Iraqi government will likely create a new dinar (without Saddam’s picture on it) and allow old ones to be converted, but a war rarely helps the exchange rate. Hurry and sell them on eBay before everyone else does.”

But as a new conflict raged between U.S. troops and Sunni Muslim insurgents in 2006—the year Hussein was executed by the Washington-installed Shiite Muslim government in Baghdad—mainstream media outlets began to report on a peculiar trend in thinking among investors.

In January of that year, CNN financial editor Walter Updegrave strongly cautioned a reader inquiring on whether or not they should buy into the Iraqi dinar hoping its value would restabilize. That September, ABC News investigated the phenomenon and, a month later, Boston Magazine, was speaking to self-styled investors in the Iraqi dinar as well.
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Isnt’ it curious how views not held by “the establishment” are portrayed as “self-styled”… This is how they treat people they want to talk down to.

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The years dragged on and, though Iraq’s crisis only deepened, droves of online sites continued to sell Iraqi dinars to customers in the U.S., promising them that the revaluation was right around the corner. One of the most consistent critics of the theory has been Forbes’s John Wasik.

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Rebuttal:

Mr Wasik has generally been supported by the establishment financial industry… initially by the insurance industry (specifically, John Hancock Ins. and Investments) and then later by the broader insurance, banking (specifically, Wells Fargo) and investment world. Of course, he’ll be critical of anything that competes with the interests of those he’s paid by.

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In 2013, as the Islamic State militant group (ISIS) that emerged out of Iraqi’s Al-Qaeda-affiliated militants began to wreak havoc across Iraq and neighboring Syria, rumors surfaced that Wells Fargo would begin to trade in the dinar, a notion Wasik shot down.

By 2015, he reported that the FBI was investigating Iraqi dinar dealers. The following year, Wasik noted the Securities and Exchange Commission had filed a complaint against a Utah man who made some $1.7 million selling dinar while claiming to have inside knowledge on an upcoming revaluation.

The schemes continued, however. Just last month, “one of the largest Iraqi dinar exchangers in the United States were convicted by a federal jury following a five-week trial,” according to the U.S. Attorney’s Office in Atlanta, where two co-owners of Sterling Currency Group and its chief operating officer were found guilty of peddling the embattled currency.
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Rebuttal:

The above is a FALSE reporting of the actual events. 

The following is an excerpt DIRECTLY from the DOJ website:

“On October 9, 2018, the defendants TYSON RHAME, JAMES SHAW, and FRANK BELL were convicted of conspiracy to commit mail and wire fraud, mail fraud, and wire fraud. The defendants RHAME and BELL were also convicted of making false statements to federal agents. The defendants were acquitted of money laundering charges”.

Source: Justice.gov

Rebuttal:

They weren’t “found guilty of peddling the embattled currency”. That is a lie. They were found guilty of CONSPIRACY to commit mail and wire fraud, mail fraud, wire fraud and lying to federal agents. Meaning they planned the fraud (as evidenced by their own e-mails and admissions to one another), they committed the pre-planned acts of both mail and wire fraud. On top of all of it, then they lied (on various other subjects) to federal agents.

Selling of Dinar wasn’t the issue.

If they were selling widgets and committed ANY of the above acts – they would still go to jail over it.

In fact, in a direct conversation with one federal agent during the Sam Tayeh investigation, it was proposed to me… (and was ultimately born out in his final guilty plea)… had he simply had a currency license, there would have been NO ISSUE.

In the instance of Sam Tayeh, IT WASN’T ABOUT SELLING DINAR, IT WAS ABOUT SELLING DINAR WITHOUT A LICENSE.
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Quick searches on Google and Twitter show plenty of believers are still buzzing about a potential Iraqi dinar revaluation, and hoping that billionaire businessman-turned-president Trump will be the one to bring it about.

Source: Newsweek.com

Final Rebuttal:

This article was initially published in “The Daily Beast”… a notoriously far-left political rag here in the U.S.

In retrospect… first it was President Bush going to do this, then it was President Obama either doing it or holding it up, now this HIT PIECE is written so as to make President Trump supporters look stupid or, if this happens under his watch – to make it look like Trump is trying to make his supporters wealthy.

The fact that investors were willing to buy the new Iraqi currency going back as early as 2003 – 2004, almost immediately after President Bush signed E.O. 13303 – flies in the face of this “you’ve all been duped” rant. They did not require anyone to tell them anything – not a guru, not an unscrupulous Dinar seller, not a HIT PIECE news article and CERTAINLY not some “investment specialist”. People figure stuff out on their own. They don’t need to be told what to think.

Here is the real question. I wonder where The Daily Beast got the impetus to do this? Who put them up to this? Why the QUACKERY reporting??

Is someone, somewhere, up to SOMETHING? This very much appears to be HIGH-STAKES political jockeying based on information available only at the HIGHEST levels.

The Central Bank is preparing to delete 3 zeros from the Iraqi currency

London – Word: The Central Bank of Iraq details the project, “structuring the currency,” which aims to delete 3 zeros, to facilitate the circulation of currency.

The Director General of release safes Abdul Karim Hassan in remarks followed the word news website that ” the restructuring of the currency project when he put the first time encountered many objections Vtogel to be raised again in 2014 and begin to apply it, but the emergence Daesh was a new reason to postpone it .”

Hassan explained that “the draft currency structure aims to delete three zeros to turn the category of a thousand dinars to one dinar, while replacing the thousand dinars in the place of one million dinars.”

He pointed out that “the project allows the printing of new categories of dinar and half dinars down to deal with the bank.”

He stressed that “the idea is integrated and there is a comprehensive study and the project does not need to apply,” stressing that “this project must be implemented despite the obstacles that led to the postponement.”

Keywords: Kalimaiq.com

Parl’t to question sacked central bank governor over ‘damaged’ money

The Iraqi parliament’s chamber of information will host in a session on Wednesday with the sacked governor of the central bank in the wake 7 billion Iraqi dinars being declared damaged due to rain.

Former Central Bank Governor Ali al-Alaq, members of the board of directors and director of the Iraqi Trade Bank will be hosted in the session, according to a statement from the parliament.

The statement pointed out that the agenda also includes considering the appeals filed on the validity of the membership of some of MPs, in addition to voting on the wording of a resolution about the recent decisions of the previous cabinet.

Prime Minister Adil Abdul Mahdi sacked Alaq from the governorship of Iraq’s central bank after the latter announced the damage of billions of dinars due to rain, informed political sources said on Friday.

Alaq’s announcement of 7 billion dinars being damaged at the Rafidain Bank because of rain has drawn sharp political and social criticism, with calls for the federal government in Baghdad to open an investigation into the incident, which may reveal much corruption.

Over the past 15 years, Iraq has reportedly lost €194 billion of public funds. Corruption is responsible for this through methods including fake contracts and salaries for fictional employees.

Source: Thebaghdadpost.com

Central Bank reveals to “NAS” details of the project “Structuring the currency”

Baghdad – Nas    The Central Bank of Iraq revealed on Monday details of the project “Structuring the currency”, which aims to delete 3 zeros, to facilitate the circulation of currency.

“The currency structuring project, when it was first floated, faced many objections. It was postponed to be launched again in 2014 and started to be implemented,” said Abdulkarim Hassan, general manager of the issue and treasury, in an interview with NAS today.

Hassan explained that “the draft currency structure aims to delete three zeros to turn the category of a thousand dinars to one dinar, while replacing the thousand dinars in the place of one million dinars.” He pointed out that “the project allows the printing of new categories of dinar and half dinars down to deal with the bank.”

He stressed that “the idea is integrated and there is a comprehensive study and the project does not need to apply (probably referring to the study),” stressing that “this project MUST BE IMPLEMENTED despite the obstacles that led to the postponement.”

Keywords: Nasnews.com