KTFA (Delta, Don961 & Samson)

  In KTFA 

Don961: {Arab Monetary} signs a new agreement for dollar settlement services

Thursday, January 28, 2021   Baghdad: Following up on the morning

the Arab Monetary Fund has signed a cooperation agreement with the Global Bank “GB Morgan”, according to which the bank will provide settlement of payments in US dollars through the “Buna” Arab Payments platform, affiliated to the Regional Corporation for Clearing and Settlement of Arab Payments owned by the Fund, according to a circular.

To the Arab Monetary Fund, followed by Al-Sabah, that “the inclusion of the US dollar as a settlement currency in the“ Buna ”platform for Arab payments in the list of settlement currencies listed on the platform, in cooperation with the bank, represents an additional achievement in“ Buna’s ”journey to be the chosen payment platform in various Arab region markets.

He added, “The cooperation will enhance the value provided by the” Buna “platform and the advanced services it provides for clearing and settling payments, thus contributing to supporting opportunities for developing intra-Arab trade and investments and linking with the main trading partners of Arab countries.

He pointed out that this cooperation “provides an added value to all eligible banks operating in the Arab countries and abroad to participate in the” Bunaa “platform for Arab payments, because the platform provides these banks with the ability to make transfers in US dollars in a safe, reliable and highly efficient manner.

It should be noted that it was previously announced that settlement of payments in Iraqi dinar, Emirati dirham, Saudi riyal and Egyptian pound was provided through the “Buna” platform for Arab payments.  LINK

KBC:  So are they reversing the move towards a non multi-currency platform???


SCollie:  Each sovereign country will have their own sovereign currency.  And it will be settled on the BUNA Blockchain Payment platform for cross border remittances…..more than likely there will be a digital bridge currency to help facilitate that FX exchange.  But that’s a whole other topic.   However, to your point.  Each country will have their own sovereign currency inside their borders…hope this helps!

DeepWoodz:  Imo…OK, so two milestones have recently been reached. BUNA & 4G…..Could these be what we are waiting for?


Samson:  Finally, the 2021 budget is ready for approval in Parliament

28th January, 2021

A representative source said, on Thursday, that the draft General Budget Law for 2021 is ready for voting in Parliament.

The source told Shafaq News Agency, that  the budget law has become ready for voting in the House of Representatives after amendments were made to some articles of the law and the deficit was reduced by 50% after it was 71 trillion dinars.”

He added that “the Parliamentary Finance Committee will, next week, distribute copies of the revised draft of the Maronite law to the heads of political blocs 24 hours before the date of the voting session on the budget law.”

The source pointed out that “next Monday is the day set for resuming parliamentary sessions and voting on the budget law.”

Next Tuesday falls on the second of February, the last day of the legislative term of the House of Representatives after it has been extended for a month, and that Wednesday is the first day of the start of the legislative recess of the House of Representatives, and the House has not announced whether it will extend the separation to vote on the budget or enter the holiday.    LINK

Iobey777:  Let’s pray they do it this time!!!


Samson:  Parliamentary services have opened corruption files in projects that have not been completed since 2012

28th January, 2021

The Parliamentary Services Committee has opened corruption files for unfinished projects since 2012, while it revealed the existence of 6000 lagging projects, most of which belong to the Ministry of Construction, Housing and Municipalities.

Committee member Abbas Al-Atafi said, in an interview with Al-Sabah newspaper, which was seen by Al-Iqtisad News, that “the most important strategic projects are lagging in the Ministry of Construction and Housing,” indicating that “the committee had a serious follow-up of water projects, foremost of which is Basra Water, which is a phrase.

Five stages, Al-Faw water, Al-Kut water, Al-Islah, Al-Samawah and Al-Nahrawan water project, in addition to other projects scattered in some governorates, all of which are lagging projects, most of which have been 10 years ago.

He added that “the volume of lagging projects in all governorates reaches 6000 projects, most of them are lagging,” noting that “the committee continues to host the concerned officials and specialists, in addition to opening project files that are tainted by suspicions of corruption.”

And he indicated that “there are many projects that the committee has opened corruption files, including Al-Kut water, reform, main roads and bridges in Basra, as well as project No. 1 for building schools, which is referred by the Ministry of Education and these projects have not been completed since 2012.”  LINK

Samson:  For the second year in a row, Iraq is on the list of the most corrupt Arab countries

28th January, 2021

Iraq ranked sixth in the list of the most corrupt Arab countries, while it ranked 160 globally in the world’s most transparent countries for the year 2020.

Transparency International stated in a report today, Thursday, and seen by Shafaq News Agency, that “New Zealand and Denmark ranked first with the least corruption and most transparent countries in the world with 88 points, respectively, followed by Denmark, Finland, Switzerland, Singapore and Sweden, which all got second place with 85 points. Then Norway is ranked third with 84 points.

According to the report, “Iraq ranked sixth in the most corrupt Arab countries, ahead of Libya, Sudan, Yemen, Syria and Somalia, while it ranked 160 globally out of 180 countries listed in the table in the most transparent countries, with 21 points ahead of Burundi and the Congo.”

Somalia, South Sudan, Syria, Yemen and Venezuela got the highest ranks in corruption, occupying the last ranks on the table, according to the report.

The organization publishes an annual report on corruption, which is an assessment on a scale from zero to 100 that ranks countries from most to least corrupt, and the report is based on data collected by the organization from 13 international bodies, including the World Bank and the World Economic Forum.



Samson:  Explaining the details of the Iraqi delegation’s visit to Kuwait .. * Al-Kaabi office: The Iraqi delegation achieved many positive results during its visit to Kuwait 

28th January, 2021

Commenting on what was circulated by some social networking sites and pages of the section on exchanging gifts during a tribal invitation in the State of Kuwait .. The Media Office of the First Deputy Speaker of Parliament would like to clarify a number of related issues in the recent visit to neighboring Kuwait.

The visit of the Iraqi delegation headed by the Speaker of Parliament, Mr. Muhammad al-Halbousi, came in response to the official invitation from the Speaker of the Kuwaiti National Assembly, and this is not the first time for an Iraqi representative delegation to visit Kuwait, and it is part of the diplomatic norms followed between sisterly and neighboring countries.

The Iraqi delegation was received by the highest levels in the State of Kuwait, “National Assembly Speaker Marzouq Al-Ghanim, the Emir of Kuwait Nawwaf Al-Ahmad Al-Jaber Al-Sabah, the country’s crown prince and prime minister, and the Minister of Foreign Affairs. The visit resulted in good results, including the claim to postpone the debts owed by Iraq after the confrontational invasion of Kuwait to alleviate the severity of the financial crisis and the economic situation that our country is going through.

The activation of the joint Iraqi-Kuwaiti ministerial committee for border demarcation, which has been suspended for more than two years, was also discussed, and a joint parliamentary committee was formed to follow up and accelerate government procedures in the field of investment, trade and the common free market, open land borders to residents of Kuwait and facilitate the granting of entry visas to businessmen. And merchants from both countries.

As for the “video clip that was spread through the means of communication,” we would like a statement that it took place during an informal session in which the Iraqi delegation was invited by Iraqis residing in the State of Kuwait and Kuwaiti tribal sheikhs who have good relations with their cousins from the Iraqi tribes, since it is a tribal session, not an official one. The exchange of gifts is considered an Arab custom rooted in the tribes, and gifts were the phrase “an Arab costume”.

What we care about and must focus on is strengthening the relationship between our country and the neighboring country Kuwait, which must be at its best and it is now, and what we have seen is that there is a great fraternal desire on the Kuwaiti side to start a page of constructive relations and support comprehensive bilateral cooperation based on permanent dialogue and good neighborliness. Good deed.   LINK