Iraqi News Monday AM 10-5-20
TLM724 Administrator BondLady’s Corner
Statement of the Parliamentary Economic and Investment Committee regarding the financial crisis
05/10/2020 At a time when the Parliamentary Economic and Investment Committee became aware of the economic reforms that the government of Prime Minister Mustafa Al-Kazemi intends to undertake to rectify the Iraqi economy in light of the low oil prices, and reduce Iraq’s share in light of OPEC decisions as well as the repercussions of the Corona pandemic,
Our committee urged the government to take many steps that would contribute to maximizing financial resources without the need to resort to internal or external borrowing, and despite the parliament’s legislation of a borrowing law on 6/24/2020 to support the government and enable it to implement its vision of reform, and we welcome the steps it has taken.
The government has taken control of the border crossings and the formation of the Supreme Committee to Combat Corruption, but we have noticed a return to financial confusion through the irregularity of paying the salaries of employees and retirees, and the government withdrawing the 2020 budget bill and submitting it to a new borrowing bill and linking its insurance for the salaries of employees and retirees to the House of Representatives vote on the borrowing bill.
The Economic and Investment Committee considers this procedure a dangerous precedent that we have not been familiar with throughout the work of previous governments, as the government is responsible for securing salaries and not the House of Representatives, and that the government’s continued borrowing will lead to bankruptcy and the collapse of the state unless it undertakes real reforms in all aspects of the government’s work.
House of Representatives Media Department 5/10/2020 LINK
Issue (4597) Of The Iraqi Newspaper Al-Waqi’a Issued On 9/28/2020
1- Decision issued by the Committee to freeze terrorist funds No. (35) for the year 2020.
2- The internal regulations of the Iraqi National Olympic Committee No. (1) of 2020.
Those wishing to acquire the Iraqi factsheet can refer to the Iraqi investigation department located in Salhiya / Haifa Street (Ministry of Justice building), and obtain the required number. https://www.moj.gov.iq/view.5147/
The Central Reassessment Of The Financial Position Of Private Banks
Monday 05 October 2020 62 Baghdad: Morning The Board of Directors of the Central Bank of Iraq decided to re-evaluate the financial position of all private banks, by directing the relevant departments of the bank to “audit and evaluate the capital of private banks and determine the percentage of deficit and the sources of those funds.”
A source in the bank told Al-Sabah that “the decision comes in line with the reform plan led by the bank’s management to create a real banking sector that is in harmony with the requests of depositors in dealing with these banks.”
The Governor of the Central Bank, Mustafa Ghaleb Makhaif, had held his first meeting with the banking sector on September 27 in the bank’s building, during which he presented the future vision for the work of the central bank in light of the economic crisis, as well as the terms of the reform paper for the banking sector, which will be initiated soon.
The governor stressed “the importance of developing banking services and products in the next stage, indicating that the bank will support the banking sector to advance its current reality.” LINK
Parliamentary Finance: The Government Is Leading Iraq To Perdition And Destruction
Pratha News Agency9 2020-10-05 A member of the Parliamentary Finance Committee, Ahmed Mazhar Al-Jubouri, considered, on Monday, that the government’s borrowing requests are evidence of the inability to implement the promised economic reform.
Al-Jubouri said in a statement, “We were surprised by a government bill to borrow another, which is considered to be the destruction and destruction of the country, and if it continues, Iraq will declare its bankruptcy in the near future.”
He added, “The government is trying to throw the ball in front of the House of Representatives and choosing between approving a borrowing whose results will be borne by generations and statements that try to pressure us by exporting that it is for salaries without the approval of the Council on that borrowing to embarrass the parliament and mixing papers.”
Al-Jubouri explained that “the issue of salaries is not the responsibility of the legislative authority, and it is one of the purely governmental duties and one of the core of its obligations before its people, and that any attempt to throw the ball at the House of Representatives is a disclaimer of that responsibility and the obligations that the government must undertake.” http://burathanews.com/arabic/news/377838
Integrity: The Arrest Of Six Defendants Red-Handed In Collecting Amounts Contrary To The Law At Al-Munthiriyah Port
Pratha News Agency110 2020-10-05 The Investigation Department of the Integrity Commission announced, on Monday, that a number of defendants had been arrested at the al-Munthiriya border crossing in Diyala governorate, indicating that they had collected sums of money from the wheels that entered the crossing “against the law.”
The department said in a statement that “a team of staff from the Diyala investigation office of the authority was able to arrest (6) suspects for collecting an amount of (80,000) thousand dinars for each wheel that enters the port, claiming that they conducted a radiological examination on those wheels.” “These sums are collected based on forged receipts allegedly issued by the Ministry of Health and Environment, and are going to the benefit of a company.”
She added, “During the operation, the original identities of the defendants were seized, as well as the original collection books and a photocopy of a contract concluded between the Ministry of Environment and a European company.”
Referring to “the organization of a fundamental record of seizure of the seizures during the process that was carried out on the basis of a judicial arrest warrant, and the company of the defendants presented it to the Judge of the Court of Investigation in Punishment, which is specialized in issues of integrity, who decided to arrest the accused in accordance with the provisions of Article (331) of the Penal Code.”
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