DELTA: Central Bank of Iraq (CBI). Mustafa Ghaleb has been named the CBI’s new governor after long service as its head of legal affairs. A nonpartisan figure with a history of resisting political pressure, he will now take the lead on implementing bank reforms and protecting the dollar auction process against interference from Iran, militias, and other corrupt actors.
Pastor: Oh Buddy… If I recalled right, did Frank say replace the CBI governor replace the rate? Well, dippity do dah Read this post. IMO
JJimmyJJ: Imo In case anyone was confused, the official policy of the Central Bank of Iraq, as specified by the Governor of the Central Bank, is to raise the value of the national currency.
Samson: The New Central Bank Governor: We Set A Plan To Develop The Bank’s Work And Strengthen The Dinar
17th September, 2020
The new Central Bank Governor, Mustafa Mukhaif Al-Kitab, affirmed that he had put in place a “deliberate banking plan” to develop the bank’s work, strengthen the national currency and address negatives, while the head of the Supreme Judicial Council, Judge Faik Zaidan, stressed the need to adhere to banking laws and the anti-money laundering and terrorist financing law.
The media office of the Central Bank said in a statement received by Al-Mustaqilla today, Thursday, that “The Governor of the Central Bank of Iraq, Mustafa Ghaleb Al-Kitab, met with the President of the Supreme Judicial Council, Judge Faik Zaidan.”
The statement quoted the book as saying that “a deliberate banking plan has been developed that will develop the work of the central bank, strengthen the national currency and deal with negatives in cooperation with the courts specialized in joint work with the central bank.”
For his part, Zidan said, “The selection of independent personalities from among the affiliates of state institutions to manage these institutions gives an indication of the government’s seriousness in pursuing the professional institutional approach in building the state as well as emphasizing the importance of preserving the independence of the Central Bank in accordance with the constitution and the Central Bank of Iraq law.”
Zidan stressed, “The need to adhere to banking laws, the law against money laundering and terrorist financing, and the instructions issued pursuant to them, to build a solid banking sector capable of facing financial and economic challenges and providing real opportunities for development.” LINK
MilitiaMan: Fairly sure we can all absorb these articles. They have been effectively what we have been waiting for. Instructions issued.. In other words the horses mouth has spoken.. imo.. Now we should see the citizens gearing for an exchange rate to bring in the 50k and 25k notes.. imo.. As that will bring in the real opportunities!! imo ~ MM
DCDriver: Delta said he was waiting for the CBI to speak. This looks like it IMO
Buckeyetree: In my opinion, the sooner than later reinstatement scenario is more likely not only for the recent great news posted today, but a reinstatement before the November election in the US would certainly aid the president with his re-election as the dinar RI is expected to provide a worldwide stimulus which includes the USA and Iraq. Perhaps Kazemi would be happy to oblige if the timing is right as he and Trump appear to be on the same page. We watch and wait what now appears to be very exciting times.
Clare: FROM FRANK: YOUTUBE TONIGHT……… AFTER PASTOR K’S BIBLE STUDY..AROUND 8:05 PM EST FRANK SAID “it would behoove them not to miss what we want to share” …. 30-45 MINS LONG…. FRANK26
Don961: The President of the Kurdistan Region affirms his support for the Al-Kazemi government and the stability of Iraq
Thursday 17th September 2020 Baghdad: Morning
Yesterday, Wednesday, the President of the Kurdistan Region, Nechirvan Barzani, during his meeting with representatives of foreign consulates, affirmed his support for the federal government headed by Mustafa Al-Kazemi and the stability of Iraq, while stressing the implementation of the “federal system” as stated in the constitution.
Barzani also confirmed, according to a statement by his office, that “the Kurdistan region will always remain a factor of stability in Iraq and the region and wishes to develop its relations with neighboring countries on the basis of mutual respect and common interests.” Large commercial and large economic activities with The two countries ».
In another aspect of the meeting, Barzani highlighted the “fears of the emergence of ISIS,” and stressed the need for “continued international support for the region and Iraq in the face of terrorism and the importance of coordination between the Peshmerga forces and the Iraqi army, especially the areas covered by Constitutional Article 140.”
Barzani pointed out that “the policy and orientations of the region on the basis of protecting the security and stability of the region,” stressing “dialogue and joint action to overcome crises and help the displaced and refugees to return to their areas of origin.” LINK
Samson: The security services arrest the director of the state agricultural bank, his son, and ten employees in Baghdad
17th September, 2020
An informed source said, Thursday, September 17, 2020, that the security services have arrested the Director General of the Governmental Cooperative Agricultural Bank, Adel Khudair, and his son in the capital, Baghdad.
The source said in an interview received by Al-Masalla that a security force had arrested the bank’s manager, his son, in addition to other bank employees. He added that the arrest of the bank’s manager, his son and the employees took place on the seventh of September, and the incident has not been announced yet.
In turn, the family of the bank appealed to the bank manager to know the place of his arrest, confirming that they did not have any information yet, whether about the reason or the place of detention.
A security source revealed, on Thursday, September 17, 2020, that a security force had arrested the head of the Baghdad Investment Commission.
The source said that a security force had arrested the head of the Baghdad Investment Commission, Shaker Al-Zamili. He added that he did not know until now the reasons for Al-Zamili’s arrest.
Iraq is witnessing a campaign of arrests, coinciding with the start of the work of the Supreme Committee to investigate major corruption files, headed by Lieutenant General Ahmed Abu Ragheef.
Samson: The government launches an anti-corruption campaign to hold 1,000 people accused of corruption accountable
17th September, 2020
The Iraqi government campaign began with the arrest of figures accused of corruption in state institutions, including ministers, deputy ministers, heads of investment agencies and businessmen, whose number is determined to be 1000
Iraq has a number of institutions that follow the file of corruption, such as the Integrity Commission, the Supreme Council for Combating Corruption, the Parliamentary Integrity Committee, and others, and the country occupies the last ranks in the classification of Transparency International
A member of the Parliamentary Economic Committee, Ali Al-Lami, said that the despicable quota system produced corruption by distributing positions to parties, indicating that there are 27 people accused of corruption who will be arrested in the coming days, including 2 ministers, heads of investment agencies, deputy ministers and general directors. He pointed out that more than 5,000 corruption files exist with the Integrity Commission, and all of them contain evidence, but the lack of will disrupted the issue of combating corruption
And Iraq entered more than a trillion dollars since 2003 until now, but the country is still living in economic decline as a result of rampant corruption, and a large number of Iraqis welcomed any measures that limit corruption. The Anti-Corruption Council has identified 1,000 individuals accused of corruption since it began operating during the previous government
Informed sources indicated that the arrest of the former head of the retirement authority, Ahmed Abdul Jalil and head of the Baghdad Investment Commission, Shaker Al-Zamili, is due to corruption files, noting that there are 4 former ministers who will be arrested during the coming days, especially since there is international coordination to recover the corrupt figures
Meanwhile, a member of the Parliamentary Integrity Committee, Alia Nassif, said that corruption in Iraq exists in the country’s leaders, and they own economic bodies, and thus requires political will to eradicate corruption, noting that the black box for corrupt files is located in the Ministry of Oil. She emphasized that the contracts of the ministries of oil, electricity, trade and defense are marred by a lot of corruption, explaining that tax evasion has harmed the Iraqi economy, which is an important file of corruption
In the meantime, the head of the Reform and Change Foundation, Sabah Al-Kinani, said that corruption has become a reality in Iraq, and if there is an employee who is not corrupt, he fights and may be referred to retirement, explaining that there are contracts signed by state institutions, with fake companies under the pretext of social security for employees and retirees. Pointing out that one institution gives these companies amounts between 7-9 billion dinars per month. He noted that the arrest of the former head of the retirement authority, Ahmed Al-Saadi, was due to the signing of a contract with a fake company regarding social security, as 7 billion dinars were deducted a month from the retirees LINK
Samson: Integrity: The Issuance Of An Arrest And Investigation Order Against (21) Defendants In The North Refineries Company
17th September, 2020
The commission said in a statement that Al-Mustaqilla received a copy of today, Thursday, that the Investigation Department of the Commission, in its discussion of the details of the case, indicated that the judge of the Kirkuk Investigation Court, which is specialized in issues of integrity, issued an arrest and investigation order against (21) accused of the workers in North Refineries Company – Kirkuk Refinery; Causing them to waste (370,000) thousand liters of white oil due to negligence.
The department added that the investigations of the authority’s investigation office in the governorate and its direct access to the site of the event led to the fact that the waste occurred; As a result of oil leakage from the pipeline conveying the refinery to the warehouse; Because of the erosion occurring in it, and large quantities of it were pumped, which led to the leakage of that quantity to the lands through which the pipe passes, and the waste of those large quantities of it. LINK
Samson: Anti-Corruption arrests the chief of the Key Card Company, Bahaa Al-Zubaidi, on the airport road, and the former Minister of Communications, Naim Chijeel, mediating his release, to no avail
17th September, 2020
Private sources revealed on Thursday, September 17, 2020 that the head of the Qi Card company was arrested on the airport road.
The sources reported that the force had arrested the president of the company, Bahaa Al-Zubaidi, on the orders of the Anti-Corruption Committee formed by Prime Minister Mustafa Al-Kazemi.
Iraqi circles considered the arrest of Al-Zubaidi as a devastating blow to one of the dens of corruption whose power relies on influential figures, foremost of which is the former Minister of Communications, Naim Thijeel Al-Rubaie, who felt that he had received a severe blow after the arrest of his partner in the corruption files, Bahaa Al-Zubaidi.
The Parliamentary Integrity Committee confirmed, on January 30, 2019, “serious suspicions of corruption” related to the “Iraq Key Card” company, while the government demanded that the government issue arrest warrants against its owner and his partners. However, previous eras, influenced by the parties, and the benefiting forces, delayed implementation, and refused to arrest the head of the company. The company is accused of serious corruption suspects, including money laundering, and is covered by former Communications Minister Naim Thijeel Al-Rubaie.
The International Smart Card Company (Key Card) was established in 2007 in Baghdad with joint-stock companies from the largest government-owned Iraqi banks, Al-Rasheed and Al-Rafidain, together with IEPS. The company is headed by Bahaa Abdul-Hussein Al-Saadi, an Iraqi Canadian, with his brother, the company’s agent, “Ibrahim Abdul-Hussein Al-Saadi”. Since 2007, the company has been paying the salaries of more than 70 Iraqi government departments and ministries.
The company has a monopoly on working in this field in Iraq, as it does not have any competing company in the same field and the reason for the lack of competing companies for it or of its quality is that this company (Key Card) provides bribes to the influential forces to prevent the issuance of any work permit for the establishment of competing companies.
Representatives in the Iraqi parliament admitted that the political blocs object to the changes and arrest orders against the corrupt made by Prime Minister Mustafa Al-Kazemi, and are working to create public opinion from their partisans to obstruct the war on corruption and create a feigned uproar to pit the street against the prime minister, while the member of the Parliamentary Integrity Committee, Jawad, admitted Hamdan, Wednesday, September 16, 2020, that Prime Minister Mustafa Al-Kazemi will face a confrontation with leaders and heads of political blocs in his campaign against corruption, saying in a statement received by Al-Masalla that “the prime minister’s steps are promising and come within the framework of his implementation of what he proposed in his program Government in fighting corruption. ”
A private government source revealed to Al-Masalla, the implementation of the legal arrest warrants for six officials accused of corruption, after the arrest of the former director of the Pension Authority, Ahmed Al-Saadi, on Tuesday, September 15, 2020.
A security source revealed, on Thursday, September 17, 2020, that a security force had arrested the head of the Baghdad Investment Commission, Shakir Al-Zamili, and the Director General of the Government Agricultural Bank, Adel Khudair, in addition to other employees in Baghdad. LINK
Samson: Chief economist at the World Bank: The global economic recovery may take 5 years
17th September, 2020
The World Bank chief economist, Carmen Reinhart, said that the global economy’s recovery from the crisis caused by the Corona pandemic may take five years
“There will likely be a quick recovery due to the lifting of all restrictions related to the general isolation measures, but a full recovery will take up to five years,” she said in a remote intervention during a conference in Madrid
She added that the recession caused by the pandemic will last longer in countries than others and will result in an imbalance in equality, given that the poorest countries will be affected more than the rich
And she added that for the first time in twenty years, global poverty rates will increase after the crisis