KTFA

Samson: Stock Market: Launch of the circulation of national bonds issued by the Central Bank of Iraq

14th November, 2018

Iraq’s market for securities, announced on Wednesday, the launch of the circulation of national bonds issued by the Central Bank of Iraq category of five million dinars.

“The deposit of the second national bonds issued by the Central Bank of Iraq in April 2017 with a category of five million dinars, which is due in April 2019 has been achieved and there will be trading,” said Taha Ahmed Abdul Salam, the executive director of the market. Within the market.”

“These bonds will be launched on Sunday, November 18, 2018, for the first time in the Iraqi market for securities,” Abdul Salam said.    LINK

Doc.K:  5 MILLION DINARS ……at a PR   that is only 5,000 USD.

Would IRAQ Stock Market do all the legal & paperwork etc… for a trivial amount when a regional bank could do same ?  Lots of contractors/ workers over there with 5,000 to invest, not as many walking around with 5MM.   At a revalued rate it would be around 20MM.

They are putting it on the Stock Market to increase the value and to announce it publicly.   imo

***************

Samson:  Confirmations of major international participation in the Summit on Reconstruction and Economic Development

14/11/2018

The International Conference on Investment, Reconstruction and Development of the Iraqi Economy will be held in December. The conference will be organized in cooperation with the Fund for the Reconstruction of the Liberated Areas in cooperation with the British Frontier Exchange Company, which is specialized in the establishment of international conferences and exhibitions.

“This event comes in very sensitive circumstances, which requires mobilization of efforts and capabilities to promote the national economy and the reconstruction and services sector, especially after the liberation of Iraq completely from the organization of” Da’ash “terrorist and improved security conditions.

“This summit will provide access to employment opportunities and the best local private banks. The summit will be a conference on the sidelines of the Golden Opportunity Exhibition to meet with the world’s largest companies and investors looking to work in Iraq as well as international organizations that seek to provide support and aid to the country in various fields such as reconstruction, Economic. ”

The head of the reconstruction fund of the affected areas d. “The presence of the specialized international effort in Baghdad represents a real support for the reconstruction and reconstruction of liberated areas that require great effort,” said Mustafa al-Hitti, adding that “the efforts of the Fund in the reconstruction of the affected areas through the implementation of important projects in these areas, Life of the Iraqi citizen “.

He pointed out that “the presence of international companies in Baghdad is evidence of the ability of participating companies and their desire to work within Iraq, and in turn we will work to provide the appropriate operational environment in cooperation with the parties concerned,” and praised the role of the company organized in attracting international effort.        link

*************

Don961: Anger from the central bank official: 7 billion damaged by water without being able to dry it

Tuesday, 13 November 2018

Baghdad – Writings

In a state of irony and anger, the pioneers of social networking sites in Iraq have been talking about a loss of 7 billion dinars as a result of the targeting of rainwater to the coffers of the Rafidain Bank of the Iraqi government.

Observers of the new corruption and waste of large public funds, rejecting the justification of the relations of the Acting Central Bank President to Parliament on Monday, November 12, 2018, about the damage of dinars due to leakage in the water hit the treasury of the government bank.

As for how to deal with this error, he said that the central bank is paying the cost of printing that amount of money, but the man did not answer whether one of them benefited from the money in one way or another or if the bank canceled dealing with its serial numbers as it was originally mentioned.

Who ensures that they do not get rid of the money by washing them in buying a property or anything else that goes with the secrets of that amount of money.

Especially that there is a practical experience to publish about the impossibility of damage of paper currency if it remained in water for 12 hours without being damaged, which means that should have acted wisely in such situations to get rid of water first and discharge and then leave the money dried and then you will find the nature,

What prompted the pioneers of the sites of collective communication to compare Iraq now famous story “Ali Baba and forty harami”, as thefts are many different methods, most of which damage 7 billion dinars water.   link

Don961:  Al-Alaq is pushing media organizations to “whiten their reputation” after the scandal of 7 billion dinars

The political scene Wednesday, November 14, 2018 at 13:15 pm

Baghdad / Sky Press

A number of local media outlets have published a unified report from the Central Bank of Iraq accusing the Center of rejecting the comments of its secretary Ali Al-Alaq.

And monitored two blogs on the networks, a unified news published on several local media, which the institutions have been discussing since Wednesday morning.

While confirmed the leaks, that the President of the Central Bank of Iraq Ali Alallak, funded those media institutions to whiten his reputation, after he was subjected to large-scale criticism, after his statement in the previous session of the House of Representatives, on the sinking of 7 billion dinars of the bank’s money due to rainwater.

According to leaks, in a move to absorb the anger of the street, the payment of large sums of money within 24 hours, to many media organizations, to improve the image, through these institutions.    link

***************

Samson:  Sadr on the “sinking of the 7 billion”: It is only a point in the sea of ​​corruption and must be arrested corrupt immediately

14th November, 2018

Sadr’s leader Muqtada al-Sadr said Wednesday that the 7 billion-dollar drowning, announced by the central bank governor, is only a point in the sea of ​​corruption, calling for the immediate arrest of the corrupt.

“What (7 billion) is only a small point in the sea of ​​corruption and spoilers,” Sadr said in a tweet, followed by “Al-Ghad Press”. “What is left is if the people expose them and corruption abhors them.”

I call upon the (impartial) judiciary to hold them accountable for issuing an arrest warrant immediately and to investigate them and their families, who are known for corruption and vice, and unjustly assaulting the people, he said.  “We will have the judiciary to support and help, saying: Oh God, drown them as Pharaoh and God were submerged, as they drowned the people’s strength and wealth.”

The governor of the Iraqi Central Ali al-Alaq, during the parliament session, on Monday about the damage of about seven billion dinars (six million dollars) within the Rafidain government.   LINK

Don961:   Facebook turns into a storm of irony because of “sinking 7 billion dinars”

Issue number: 4311  Last modified: 11/14/2018 7:07:39 PM

Baghdad / follow-up range

Iraqi activists launched a campaign on social networking sites, to ridicule the announcement of the governor of the Iraqi Central Bank of 7 billion dinars ($ 6 million) in a government bank due to rain in 2013.

The governor Ali al-Alaq said before parliament on Monday, “7 billion dinars As a result of the entry of rainwater and sinking the coffers of Rafidain Bank in 2013, which led to the damage of banknotes by 100 percent.

And the circulation of writers, academics, journalists and Iraqi activists through the means of communication video speaking through the House of Representatives, and said that the rainwater in the country recently entered the coffers of Rafidain Bank and caused serious damage to banknotes stored, the Chairman of the House of Representatives “damage 100 percent ?! “.

“In this case, Rafidain Bank is requesting the replacement of these damaged banknotes by the Central Bank,” he said, adding that the bank keeps documents proving the validity of the issuance of currencies that have been damaged.

He explained that in accordance with the regulations and instructions followed, the central currency is replaced by the currency when exposed to damage due to various incidents such as drowning, burning or anything else.

Al-Alaq pointed out that the losses do not actually mean seven billion dinars, but only include the value of printing the paper, which starts from two to four cents.

Local media have reported that the losses of the Rafidain Bank because of the rains amounted to ten billion dinars, and included damage to various categories of the local currency.

Activists on Twitter-Hatchag, nicknamed “# Drowning_7_Million”, were quick to deride the comments, although he said the losses did not mean the loss of seven billion dollars, but rather the loss of the value of printing paper, which is up to 4 cents at most.

“The Prophet Joseph stored wheat for 7 years and what is damaged .. And the relationship with a rainbow of seven billion .. This they call money laundering .. Fear knows what.”

Did you know my brother the citizen .. 7 billion dinars sank in the rain in Rafidain Bank and on the tongue of the Governor of the Central Bank and the reason “spend and destiny” sinking_7_ billion

Activists also published sarcastic images, while others went further, posting videos of practical experiments proving that the paper currency was able to withstand the water, in an attempt to question the statements of the relationship, where a citizen posted a video to try a 250-dinar coin and put it in your place In the water a full day and then put it in mud water to prove to the Director of the Central Bank on the major lie lie 7 billion dinars in the treasury of the Rafidain Bank because of rainwater

Another user said: “Yesterday was stolen 7 billion because the treasury is not water resistant, today is stolen 20 Billion because the treasury is not fire-resistant, tomorrow 200 million are stolen Yar because the treasury is not bulletproof, in conclusion the bank was completely stolen because the building fell due to strong winds.

The writer and poet Hamid Qassem scoffed at the incident, saying, “Is it a rainbow?” He added in a note on Facebook that “the central bank clues to the country (or Rafidain Bank in another novel) have holes in it (like you). “It has become 80 years since the bank was founded and we have not heard of the fines,” he said. “You are not afraid of a sergeant or a wise man, because you are not afraid of a sergeant or an oppressor. In the name of religion, as you are masters, and the people are slaves of your enemy? ”

Zain, who is the lost money, if Khashoggi’s body disappeared? They mean they loot us and they laugh at us. ”

Others said it was nothing more than an attempt to cover corruption. “A new way to steal,” said another, while another said the whole subject was “lying” while another said: “Money laundering, money laundering. All this you find in the Governor of the Central Bank of Iraq.

Another member of the Finance Committee in the Parliament, Ahmad Al-Haja Rashid, claimed the governor of the Central Bank Ali Al-Alaq, with data and special evidence about the sinking of 7 billion Iraqi dinars.

“We do not care about the amount, but the most important thing is the number of banknotes because they are the ones who determine the cost of the losses, not the amount written on paper,” Rashid said in a statement.

The MP added:
He explained: “We asked the Governor of the bank to come next week all the data on this issue so that we know the extent of losses, and who is the culprit and whether the money was actually destroyed or there are other problems.”

Asked about the quality of the currency being printed in Switzerland and its resistance to water, activists asked how it could damage the rain. MP said: “Actually, officials of the Central Bank talk during our previous meetings on the quality of the Iraqi currency, and that citizens have the right to this question and sometimes washed with clothes and nothing happens to them, and therefore we want to check this information.”

“I am an economist. I do not care what the amount is, but the number of papers that have been damaged, because the cost is due to the number of banknotes and not the total amount of the local currency.”

He added: “Each paper is printed in a certain amount of money, as the currency category of 50 thousand Iraqi dinars printed six US cents and this amount is collected on the number of banknotes damaged, not to mention the high cost, as the US currency category of one hundred dollars applied four cents   link