KTFA Members News & Views Wednesday PM



Samson:  Parliamentary Finance resolves the controversy of changing the dollar exchange rate


9th November, 2022


The Parliamentary Finance Committee decided, on Wednesday, the issue of changing the exchange rate of the dollar against the Iraqi dinar.


Committee member Jamal Cougar said in an interview with “Mawazine News”, that “the House of Representatives, the Finance Committee and the government are not concerned with the issue of changing the dollar exchange rate, and that it is exclusively the prerogative of the Central Bank, and this matter was confirmed by the Prime Minister.”


He added, “It is not the right of any deputy to intervene and make statements in this regard, and if they want to respect the terms of reference.”    LINK


ATPinfinity:  it is exclusively the prerogative of the Central Bank MAYBE THIS IS CODE everyone IN THE WORLD OF DINAR IS WATCHING THE CBI NOW!imo…..(same day)The Central Bank: Our reserves have reached $90 billion and there is no change in the exchange rate in the 2023 budgetI thought the 2023budget was not complete, allegedly……How many more buy opportunities will the procrastinators get?


Samson:  Economist : Reducing the dollar exchange rate is not / impossible / and the current time is suitable for monetary change


9th November, 2022


The economic expert, Raad Twij, confirmed that decreasing the dollar exchange rate is not impossible as he is promoting it, indicating that the current and next two years are the most appropriate time to bring about this monetary change.


Twig said in a statement to the National Iraqi News Agency : The exchange rate still takes a large part of the attention of political and popular circles, knowing that the increase in the exchange rate was not the source of the monetary authority, but rather it was by the Minister of Finance, so the independence of the Central Bank at that time was questionable.


Therefore, decreasing the exchange rate is not impossible, and this matter becomes a strategic option for monetary policy if the monetary reserve continues to rise, and a restructuring of the Iraqi dinar is carried out in a direction that improves its purchasing power or radically replaces the Iraqi dinar with new values.


He pointed out that “the current and next two years are the most appropriate time to bring about this monetary change.”   LINK




Samson:  Source: France’s Total wants to leave Iraq and sell its $27 billion stake


9th November, 2022


An informed source said, on Wednesday, that the French company Total wants to withdraw from Iraq


The source told “Economy News” that the French company Total Energy is negotiating to sell a share in the deal of its huge projects in Iraq, amounting to 27 billion dollars, in favor of Qatar Energy


He added, “The French giant is renewing its efforts to complete the deal with the formation of a new government in Iraq   LINK




Samson:  Al-Sudani and Zidane discuss efforts to recover tax trust funds and arrest fugitive suspects


08/11/2022 22:19:43


The President of the Supreme Judicial Council, Judge Faiq Zaidan, received Prime Minister Muhammad Shia Al-Sudani. The two sides discussed “the joint efforts between the judiciary and the government in following up the recovery of state funds in the case of tax trusts and the arrest of the fugitives.”


Al-Sudani said in a press conference today: “There are 4 to 5 people who were arrested in connection with the issue of tax guarantees,” adding that “our information indicates that a large part of the total amount stolen was smuggled out of Iraq.”


It is noteworthy that the previous government headed by Mustafa Al-Kazemi had begun an investigation into the disappearance of $2.5 billion from the account of the General Authority for Taxes (Amanat).


A document of the commission revealed that the amount was withdrawn between January and August of this year, and the amount was transferred to the accounts of five different companies using dozens of checks, then it was withdrawn from the accounts immediately.


A security force arrested Nour Zuhair, the main suspect in the theft of tax funds, while the Central Bank of Iraq froze the movable and immovable funds of five companies, including those belonging to the accused, Zuhair.   LINK




Samson:  Integrity reveals and seizes embezzlement and violations of more than 4 billion dinars in two governorates


9th November, 2022


The Investigation Department of the Integrity Commission announced, on Wednesday, that its staff had carried out seizures of cases of embezzlement, violations and extortion in the governorates of Muthanna and Maysan.


The department, speaking about the operations that were carried out according to judicial notes, pointed out in a statement received to Shafaq News Agency, that “the Maysan Investigation Office team revealed that the director of the Personnel Accounts Department and the former official of the Payments Division in the Maysan Oil Company embezzled an amount of nearly one billion dinars.


The statement indicated that the accused organized a “fake” rewards exchange document for the company’s employees in the amount of (1,900,000,000) billion dinars, warning that he embezzled half of the amount by issuing a forged document to settle the payment of the reward amount.


In Muthanna, the department confirmed that “the staff of the Commission’s Investigation Office in the governorate was able to monitor a real estate worth (3,300,000,000) billion dinars, owned by the Ministry of Finance. Editing a photo of the property as owned by the Ministry of Sports and Youth, contrary to reality; Accordingly, he was given an investment opportunity for housing.


The Maysan Investigation Office team was also able to arrest an employee in the municipality of Al-Amarah after he had blackmailed one of the audits; to pay a sum of money (a bribe).”


The statement stated that “the accused also bargained with her in exchange for her sick daughter, who is included in the handicapped segment, to obtain a residential plot of land.”  LINK


Samson: : 10 years in prison for the former governor of Salah al-Din Ammar al-Jabr


9th November, 2022


Today, Wednesday, the Iraqi judiciary issued a 10-year prison sentence in absentia against former Salah al-Din Governor Ammar al-Jabr.


A judicial source told Shafaq News Agency that the former governor of Salah al-Din Ammar al-Jabr was sentenced in absentia to 10 years in prison for his involvement in corruption and waste of public money.


On May 19, 2022, a parliamentary source revealed the dismissal of Salah al-Din Governor Ammar Jabour al-Jubouri from his position by order of the Presidency of the Council of Ministers to the House of Representatives, after the recommendation of the investigative committees in the Council of Ministers, “which diagnosed the mismanagement of the governorate and the existence of a waste of public money.”


On the same day, the Iraqi Council of Representatives voted to dismiss Al-Jabr by an absolute majority.


On August 21, 2022, Al-Jabr vowed, on Sunday, to reveal files of financial corruption affecting “all politicians” without exception, and demanded international protection for him and his family, while former MP Mishaan al-Jubouri hinted, on the same day, that he would also reveal corruption files. LINK


Ewtohan:  This guy gets  10 in jail for waste of public money.  Lol    How much money did Maliki waste  ..? I mean steal and how many people  did he have killed…why don’t they put his butt in jail  to rot or give him a death sentence. .. I guess they don’t do nothing with him because people are afraid of him for what he knows .. well it’s funny because United States put him in office  imo




Samson:  Abu Dhabi Ports signs an agreement with the Iraqi Bank (IDB) with the aim of improving trade movement between the two countries


9th November, 2022


Abu Dhabi Ports Group signed a preliminary agreement with the International Development Bank in Iraq (“IDB”) to explore cooperation opportunities available in port projects and logistics services with the aim of improving trade movement between the United Arab Emirates and Iraq.


The agreement was signed by: Mohammed Juma Al Shamsi, Managing Director and CEO of Abu Dhabi Ports Group; and Ziad Khalaf, Chairman of the Board of Directors of the International Development Bank, according to a statement issued by the group today, Wednesday.


Al Shamsi said: “We have before us a broad horizon of opportunities and a great scope for improving and modernizing ports, logistics services and economic zones in Iraq. There is no doubt that through our cooperation with the International Development Bank, we will explore many available projects that certainly contribute to enhancing trade movement between the United Arab Emirates and Iraq.”


For his part, Ziad Khalaf, Chairman of the Board of Directors of the International Development Bank, said: “Strengthening the ties between our two brotherly countries contributes to supporting the national economy and improving intra-trade. Therefore, we are pleased to conclude this agreement with the Abu Dhabi Ports Group, a world leader in the fields of trade, logistics and transport.”


“The ports and logistics sectors play a vital role in providing supplies to the Iraqi community across the country, and we are confident in our ability to collaborate on projects with tangible and sustainable impact in this context,” he added.


Khalaf added, “Our goal is to strengthen and deepen the bonds of economic and trade cooperation between the United Arab Emirates and the State of Iraq, in order to achieve economic twinning between the two brotherly countries through the support of businessmen and Emirati and Iraqi companies.”


It is noteworthy that the United Arab Emirates and Iraq continued to strengthen their trade relations during 2022 through several trade and development agreements.


The World Bank estimates that the Iraqi economy will record an estimated growth rate of 6.3% over the next two years.   LINK




Samson:  The Central Bank: Our reserves have reached $90 billion and there is no change in the exchange rate in the 2023 budget


9th November, 2022


Global oil prices have boosted the dollar’s cash reserve in Iraq, especially after the “black gold” price rose and reached the $100 per barrel barrier, while specialists stress the need to exploit this financial abundance in establishing strategic projects capable of supporting the country’s financial budgets and reducing the size of the “almost total” dependence on oil imports, as well as directing part of those towards supporting industrial and agricultural private sector projects


Al-Yasiri’s affirmations came during the economic symposium organized by the House of Wisdom and bearing the slogan (The Iraqi Dinar: Changing the Exchange Rate) and raised zeros) and moderated by the economist, Dr. Falah Hassan Thuwaini, and attended by a number of experts and specialists in economic affairs


Al-Yasiri told “Al-Sabah” on the sidelines of the symposium, “The cash reserves of the Central Bank are sufficient to finance import operations for a period of 22 months, and this is positive for Iraq and makes it live a period of relief, as these reserves amounted to $90.89 billion, which is the first time that the reserves of the Central Bank have been reported. Absolutely, and the economy’s health indicates that it is a major bond and wall of the national currency, and it is expected that these reserves will exceed the $90 billion barrier at the end of this year


Al-Yasiri pointed out that the volume of the Iraqi currency issued for circulation is estimated at 83 trillion dinars, equivalent to 58 billion dollars, while the banknotes of the public and banks are estimated at up to six billion banknotes in circulation


Regarding the devaluation of the currency, Al-Yasiri stressed that this decision left a new threshold for the Iraqi industrialist and made it more competitive. After devaluing the currency by 23 percent, this matter limited the volume of imports of goods and many industrialists have a desire to expand their factories or establish new ones


And the Central Bank adviser pointed out that “the process of adjusting the exchange rate has important scopes, which were represented in achieving a financial goal” of “revenues for public finance” and a development goal “enhancing the competitiveness of the real sector against the import sector,” stressing that there is no intention at the present time to change the exchange rate that he described.


With the “stability function”, as it is not possible to manipulate stability, and that the budget for next year 2023 will be prepared on the basis of the current “reasonable” exchange rate that resulted according to calculations between the Ministry of Finance and the Central Bank, as well as the contribution of some international consultations in this decision, which kept the public finances solid after that At the end of the year 2020, the Iraqi state approached bankruptcy


In turn, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, said that “work to improve the price of the dinar should be carried out in accordance with the principle of “common benefit to the community” so that it does not leave harm, as this requires a gradual silent policy and high coordination between the monetary and financial policies, especially since the next phase should be a phase of calm, as the current government is rationally moving towards revitalizing development and achieving economic stability  LINK


108419:  There it is from the central bank no change in the budget,,,,, hype


PattyCakes7:  China said the same thing right before they did it. God please let this be it.