KTFA (MilitiaMan & Samson)

  In KTFA

Samson: In the first decision … the new central bank governor settles a controversial matter

22nd September, 2020

The Central Bank of Iraq confirmed, on Tuesday, that it is taking a new mechanism to manage and improve the Iraqi currency, indicating that it decided to use the official signature on the banknote, and not to sign in the name, a matter that previously sparked widespread controversy in the country.

The bank’s media office said in a statement that Shafaq News Agency received a copy of, that “The Governor of the Central Bank of Iraq,   Mustafa Ghaleb, chaired today, Tuesday, a meeting of the currency affairs committee in this bank in the presence of all members.”

The statement quoted Makhif as emphasizing “the importance of following the context of the official signature on the exported currency, and not using the signature with the name that was previously approved by the committee in a previous meeting.”

This is his first chilling decision since he was appointed to his post last week.

The new governor indicated that “the committee discussed a number of issues and took a number of decisions that would contribute to raising and improving the level of currency management.”

It is noteworthy that the Central Bank of Iraq issued in 2018 a banknote of one thousand five hundred two hundred and fifty dinars, and the name and signature of the governor were added to the design of the currencies.

Specialists have criticized that procedure. The economic expert, Salam Sumaisem, told Shafaq News at the time that the governor of the Central Bank, Ali Al-Alaq Agency, committed a “major violation” by placing his name on the Iraqi currency in its new edition, adding that “changing the signature is not something easy for a central bank governor.

This signature is approved in Countries of the world, especially in international banks, which are member states of the International Monetary Fund, “wondering,” Is there any currency of a strong country in which a person’s name is on it? Is the Iraqi dinar crushed to this degree until it is made in the name of a person?”   LINK

MilitiaMan:  Wow, this is telling me that they have every intention to raise the value of the currency. The importance is straight forward and addressed. It is my understanding and maybe Delta can shed light on this, but, we know they have been printing small notes (possibly coins) in 2018 and more recently in 2019 and 2020..

They had issue with Alak’s name on of the categories. Imo The new CBI GOV has been around along time and would have known about all of this, thereby, imo they have that issue under control and we are about to see a big change and much improvement to the management of the new currency.. imo ~ WOW

This article about the smalls is awesome. It sure shows us they have an incredible intention to use the smalls.. That is a good thing. Lol  ~ MM

Clare:  YES!! WOW…….   MM      raising and improving the level of currency management.”

The committee discussed a number of issues and took a number of decisions that would contribute to raising the level of currency management and improving it, 

Edna:  Yeah but does this mean we have to wait till they replace all the currency that had Alak”s signature on before they raise the value is my question…???

MilitiaMan:  My belief is no. My understanding based off the CBI history of money spent and subsequent money spent more recently in the printing of money, that would have been done already.. imo They would not broadcast new category money coming out at this stage to allow people to front run the currency. This is more in line with they are all set now. imo Apply all the data from the CBI Gov. HE got the green light for the direct implementation of  reforms. imo ~ MM

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GodLover: Just keep in mind that it will not happen imo during the 1st currency swap at a PR that teams thinks could take start this week & last 30 days in their opinion…..imo

Also keep in mind all the articles stating the reforms will be in the 2021 budget & stating they will NOT be in the 2020 budget….imo per articles. As well, keep in mind that the second currency swap is in team’s opinion for 30-60 days at a 1-1 rate imo. Logic says this can only take place after the fact (rate change) imo. As for me, I look to very end of this year &/or early next year imo.

MilitiaMan:  “Article 62 of the constitution requires the government to submit final accounts to Parliament before approving the budget. As for Article 8 of Financial Management Law No. 6 of 2019, the Ministry of Finance and Planning is required to submit the draft general budget law to the Council of Ministers first. September of every year”.

MilitiaMan:  We don’t all agree we are looking for the 2021 budget. The rate will precede it. The rate doesn’t need the budgets the budgets need the rate, hence they are still talking about the 2019 FMLA.. They have to sort all budgets up to date prior too the new one that will be different. They are not talking about direct implementation and then small category notes to go out to 2021. That imo makes no sense what so ever, especially now with the hiding of the 2020 budget details. So, those that may want to look for 2021, great. It doesn’t include my view. A fact.  ~ MM

GodLover:  You claim they are hiding the 2020 budget, yet they state amendments are needed for borrowing which even was mentioned on the cc imo. And yes, I agree the budget needs the rate as I have stated so…..however, it will NOT be usable until opened in the specific budget implemented in imo. Obviously our “logic” differs which is ok. I just suggest everyone stays grounded. imo

MilitiaMan:  They told us the budget will have investment money used for the operational side. Maybe that was over looked, don’t know. I didn’t miss it. I believe they can take money and put it into the investment side of the budget then, for instance in energy investments, i.e., GE and Siemens they put the money to the operational side of the budget. Hence, the article told us they couldn’t talk about the terms. Well  when talking terms (rate) they needed to be hush hush, thus, my logic is they are hiding it.. imo Just as they are prior to exposing the 2019 FMLA in the 2020.. Hope that makes sense.. ~ MM

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Deputy: 35 trillion dinars are stored with the people who refuse to deposit them in banks  LINK

MilitiaMan:  Once they bring or add Purchase Power to the new small category notes, the liquidity will begin to absorb those large amounts of notes. The sooner the better too.. lol imo ~ MM

Samson:  Parliamentary integrity calls for the issuance of a travel ban for all those around whom suspicions of corruption are raised in Iraq

20:43 – 09/21/2020

Member of the Parliamentary Integrity Committee, Representative Jawad Hamdan, called, on Monday, to issue a judicial decision banning travel to all those around whom suspicions of corruption in Iraq are raised.

Hamdan said in an interview with “the information”, that “corruption is a dangerous file and must be addressed firmly, stressing that the first measure that the judicial authorities should take is to prevent travel for all those around whom suspicions of involvement in financial and administrative corruption files are raised.”

He added, “The travel ban is a legal and precautionary measure so that the suspects are always in the grip of justice until the completion of investigations and the issuance of judicial decisions, considering that the travel ban is a very important decision in the fight against corruption.”

Several personalities were recently arrested on charges related to financial and administrative corruption in several governorates.   LINK

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Samson:  Representatives are optimistic about the work of the Corruption Crimes Commission: it could bring down big heads

22nd September, 2020

The parliamentary sources confirmed that the House of Representatives submitted dozens of corruption files to the Integrity Commission, which in turn transferred it to the Supreme Judicial Council to take action against those convicted of those files.

The sources expressed their optimism about the work of the Corruption Crimes Committee during the next stage, indicating that the investigation with some figures may lead to the removal of large heads for their involvement in these files.

Parliamentary sources called for the application of the Where do you get this law, in conjunction with the campaign launched by the Prime Minister against corruption, in order to hold all officials and politicians accountable for the money they have.  LINK

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Don961:  Whales and {where did you get this} are on the waiting list

Tuesday 22nd September 2020  Baghdad – Al-Sabah: Omar Abdul-Latif

 The secret circles surrounding the heads and whales of large corruption are awaiting the next steps that the executive authority will take to strike corruption within the campaign that began days ago, while a parliamentary source confirms to Al-Sabah that 98 percent of the work of the permanent committee on corruption crimes has not started yet, and will start in the stage In the coming neighborhood, calls have escalated to include the campaign to hit the corrupt in other areas outside Baghdad, including Kirkuk and the Kurdistan region.

The government stated in more than one statement that the arrest of some personalities is only the beginning of the work of the permanent committee to combat corruption and the major crimes files that were formed under the leadership of Major General Ahmed Abu Ragheef, and these arrests constitute only 2 percent of the committee’s work, amid expectations that the majority of the committee’s work will be in The next stage is directed at whales and large dragon heads accused of corruption.

The House of Representatives as an entity that exercises the oversight role; Filing dozens of corruption files to the Integrity Commission, which in turn transferred it to the Supreme Judicial Council to take measures against those convicted of these files. In his speech to Al-Sabah, Representative Raad Al-Maksousi expressed his optimism about the committee’s work during the next phase, as it could lead to investigation with some personalities Detainee had to overthrow large heads for their involvement in those files.

Among the bodies that joined and represented in the work of the committee is the Iraqi National Intelligence Service. The efforts and capabilities of the agency can be harnessed in pursuing the corrupt and revealing their obscene wealth. The head of the Rafidain Parliamentary Bloc, Yonadam Kanna, calls for the campaign launched by Al-Kazemi to implement the law (from where did you get this), In order to hold all officials and politicians accountable for the money they have, the campaign also includes the relatives of those responsible.   LINK