KTFA (Delta, MilitiaMan & Samson)

  In KTFA

Electricity announces the payment of salaries of contract holders and daily wages  LINK

MilitiaMan:  “Minister, which resulted in securing the salaries of the two tranches and transferring their allocations from the investment budget to the operational one. He disclosed that “their salaries will be paid for the month of March today, Sunday, provided that the rest of the months will be paid with retroactive effect after the budget is approved“

MilitiaMan:  The budget agreement appears to have a retroactive mechanism to pay salaries.  They also let it be known they can adjust monies from the investment side of a budget to the operational side. Take note this is not about the 2021 at all. March is in 2020 for a retroactivation to be applicable. This is slated for today.. Rate before budget, imo.. international continuity must mean that the two entities are in agreement at which they’ll be working and being paid. Imo ~ MM

Samson:  Parliamentary Finance reveals the share of the Kurdistan region in the 2020 budget

19:03 – 20/09/2020

The Parliamentary Finance Committee revealed, on Sunday, the size of the Kurdistan region’s share in the draft federal budget law for 2020.

Committee member Ahmed Hama said in a statement to / information /, that “the share of the Kurdistan region within the draft federal budget law for the year 2020 amounted to 12 trillion Iraqi dinars and 606 million dinars,” noting that “the budget will be decided in the coming days.”

He added that “the draft federal budget law for 2021 has not yet reached the House of Representatives, and the region’s share in it has not been definitively determined,” noting that “the 2021 budget is still in the process of discussion and preparation within the Council of Ministers.”

The Parliamentary Strategic Planning Committee indicated, last Sunday, that the draft federal budget law for 2021 will include new funding sections to get rid of the oil appropriation.   LINK

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DELTA:  NEW GOV START WORKING FIRST DAY………………….

Samson:  The Central Bank adopts a paper to reform the banking sector

20th September, 2020

The Central Bank’s Media Office announced, on Sunday, that the bank’s board of general directors has adopted a paper to reform the banking sector

The office said in a statement that “Al-Eqtisad News” received a copy of it, “The Governor of the Central Bank of Iraq, Mustafa Ghaleb, chaired a meeting of the Bank’s General Directors Council

The statement added, “The meeting discussed a number of issues, the most prominent of which was preparing a paper for reforming the banking sector, as the Board adopted that paper in preparation for submitting it to the Board of Directors of the Central Bank for approval and direct implementation

LINK

Ross:  To my simple way of thinking this says immediate, do not wait to pass GO or New Year, for implementation of White Papers new IQD rates.  Praying I’m correct.

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Samson:  Banking sector reform

20th September, 2020

His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhaif Al-Kitab, chaired a meeting of the General Directors Board of this bank on Saturday, September 19, 2020

The meeting discussed a number of issues, the most prominent of which was “preparing a paper for reforming the banking sector,” as the Board adopted that paper in preparation for submitting it to the Board of Directors of the Central Bank for approval and direct implementation

The Central Bank of Iraq

Media Office       Baghdad

September 20, 2020   LINK

Samson:  Due diligence procedures

20th September, 2020

The Central Bank of Iraq called on all licensed non-bank banks and financial institutions to take utmost care and caution on financial movements that take place through (bank accounts, electronic wallets, and electronic payment cards of all kinds) for social media celebrities, as well as developing scenarios to discover money laundering operations for these institutions.

And in proportion to these cases, in coordination with the Office of Combating Money Laundering and Phobia Financing, if necessary

He also urged the Central Bank to take strict due diligence measures on the financial movements of the owners of electronic stores (owners of e-marketing sites and marketing through social media

The Central Bank of Iraq

Media Office       Baghdad

September 20, 2020 LINK

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Samson:  Al-Nasiri puts in front of the government a comprehensive economic reform paper in his new book “Our Economy and the Reform Movement”

20th September, 2020

A newly released book by Samir Al-Nasiri, the economic and banking advisor to the Association of Iraqi Private Banks, was recently released in Baghdad, tagged (Our Economy and the Reform Movement 2015-2020)

It is a book that discusses economic and banking reform for years after the economic and security shocks and the global oil price drop after mid-2014 and during the Coronavirus crisis, for which a special chapter is devoted

Once again, the economic and banking advisor, Samir Al-Nasiri, puts us in front of a new juice based on his experience, experience and relentless keeping up with the economic, financial and banking reality, in this book entitled (Our Economy and the Reform Movement 2015-2020)

The chapters of the book are characterized by the multiplicity of dimensions in which the author becomes jealous based on a holistic vision that aims to shape the economic reality on rules and constants that form the basis for the economic construction, and at the same time a starting point for amendment, correction and reform to remove obstacles and obstacles, and to draw consistent and integrated policies in order to achieve the desired goals

Whereas fiscal and monetary policy are two basic pillars of the economy, the author deals with the two sides within the framework of the symbiosis of roles and policies, as well as the mutual influences between the two policies, which requires permanent coordination between them

In keeping with the plans of the Central Bank and its strategy for the years (2016-2020), the author details the size of the initiatives and achievements made by the Central Bank of Iraq during the past years in achieving monetary and financial stability and in the institutional reconstruction of the bank to accommodate modern international developments, concepts and standards in all aspects of the bank

The book deals with what enhances the role of the banking sector in advancing growth and progress by expanding the circle of financial inclusion, applying institutional governance and benefiting from technological progress in developing electronic payment methods

The book that we have in our hands is a paper of ideas and visions, and it is a careful and careful reading of many phenomena and challenges, and provides solutions and treatments for them in a spirit of optimism, positivity, and a distinct patriotic feeling

It should be noted that the book includes four chapters and 88 topics, with a number of 340 pages, and two documentary attachments

The current book is the eighth of the author, and seven books have already been published, all of which discuss economic, financial and banking reform during the past six years, respectively

(Economic implications in the Arab movement countries and the Iraqi experience in monetary policy applications) and (Banking sector reform in Iraq challenges and strategy reforms (F) Reforming the banking sector, the first step for economic reforms in Iraq. (F) The methodology of economic and banking reform in Iraq.

At the end of the tunnel – Economic and Banking Insights and Studies) and it was printed in two editions in Baghdad and Beirut by the Union of Arab Banks, and it is deposited and preserved in the House of Books and Documents in Baghdad    LINK

Samson:  Ambush in a restaurant in Baghdad .. Details of the arrest of four senior banking officials

20th September, 2020

On Sunday, high-ranking sources disclosed the details of the arrest of 4 agricultural bank managers in Iraq after they were dragged into an official meeting in the center of the capital, Baghdad.

Employees in the agricultural banking departments told Shafaq News, “The General Administration of the Agricultural Bank called for a general meeting of directors of agricultural bank branches throughout Iraq in the “Ayoun Baghdad” restaurant in the Karrada district in central Baghdad. More than 100 people attended the meeting, pointing out that “a civilian force The meeting raided and arrested the managers of the agricultural banks of the “Ramadi, Fallujah, Abu Ghraib and Salah al-Din branches”.

The sources confirmed that “the motives of detention belonging to a demonstration organized by the agricultural branches of banks in early September this to protest the appointment of a new director of the General Administration for Agricultural Bank named Rashad Al – Dani behind the Acting Director of “Adel Attia”.

And the sources added, “A force from the Prime Minister arrested on September 7 the director of the General Agricultural Bank, Adel Attia, along with his son and 10 other employees under the pretext of inquiring about the demonstration and what accompanied it.” 

And was amazed at the sources “of the government announced the arrest of the Director of the Agricultural Bank and his son and 10 other officials on charges of corruption before the start of anti – corruption campaign with 11 days knowing that motivated arrests in response to the organization of the demonstration and unrelated corruption charges,” according to the consensus of agricultural bank employees in Iraq”.

On Saturday, an informed source said that four officials of the Agricultural Bank had been arrested on charges related to corruption cases. The source told Shafaq News Agency, that “the investigation committee in major corruption and exceptional crimes cases has arrested four managers in the Agricultural Bank after investigations with the bank’s director, ” adding that the detainees “are the managers of Ramadi, Fallujah, Abu Ghraib and Salah al-Din banks.”

Federal Prime Minister Mustafa Al-Kazemi began a campaign of arrests of former and current state officials on charges related to financial and administrative corruption cases, after the supreme religious authority for Shiites in Iraq, Ayatollah Ali al-Sistani, called for “opening the large corruption files in the country to hold the corrupt accountable.”   LINK

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Samson:  An Iraqi Politician: Al-Kazemi Is Determined To Fight Corruption And Recover The Stolen Billions

20th September, 2020

Iraqi politician, Ghanem Al-Abed, affirmed that the main task that the Iraqi Prime Minister, Mustafa Al-Kazimi, is striving to achieve at present is to fight corruption, which has become rampant in all walks of life within the Iraqi state.

Al-Abed explained in a press statement that the Iraqi Prime Minister “Al-Kazemi” is keen on retrieving the billions that have been looted through various corruption channels. Commenting on what Al-Arabiya Net reported that Iraqi Prime Minister Mustafa Al-Kazemi is heading to issue other arrest decisions to kill demonstrators, the Iraqi politician stated that a few hours ago a decision was issued by Al-Kazemi to cancel the fake leave that one of the senior officers in the Iraqi army, Major General Jamil Al-Shammari, obtained from the Minister of Defense for the purpose of Treatment, for fear of escaping outside the country.

Al-Abed indicated that “Al-Shammari” is one of the officers accused of killing demonstrators in the recent demonstrations in Iraq, so the decision of the Iraqi Prime Minister to prevent him from traveling was to preserve the rights of the martyrs.

Sada al-Balad had obtained a copy of the periodic book issued by the Chief of Staff of the Iraqi Army regarding the approval of the Iraqi Minister of Defense to grant Lieutenant General Jamil Kamel Abdullah, attributed to the General Secretariat, a leave of 30 days for the purpose of treatment outside the country.  LINK