News With Links & Discussion
OOTW: NOTE IF ANYONE WANTS TO GO INTO THE FORUMS – PLEASE SIMPLY CLICK THE GOLD WEALTH WATCH LOGO TOP RIGHT OF THIS CHAT ROOM
OOTW: TO GET BACK INTO THE CHAT ROOM PLEASE CLICK THE CHAT LINK TOP RIGHT INSIDE THE FORUM – TOP RIGHT OF THE FORUM PAGE
OOTW: A GREAT FIND BY BUTIFLDRM
OOTW: HIGHLIGHTED SECTIONS – PLEASE SEE THIS ARTICLE IN THE FORUMS TO READ MORE
OOTW: Based on an initial reading of the contexts of events from which to say: The lifting of the economic embargo on Iran will reflect positively on the Iraqi economy, as the launch About 50 to $ 100 billion of Iranian funds frozen, and lift the ban on trade and the flow of foreign investment on the inside Iran,
all will contribute to obtain recovery will be the first to raise the Iranian Altoman exchange rate against the US dollar, and the rise in Iran’s local currency, will have reflections on the Iraqi economy by virtue of the social interference imposed by the case of geographical and historical neighborly relations between the two countries,
as this effect will stop at high incomes Iranians that will contribute to its role in the possibility of higher religious tourism and increase the flow of visitors to the Holy thresholds rates,
and therefore, the high cost generating unit in Iran, the production will contribute to raise the selling price in Iraq,
OOTW: it is likely to turn the Iranians producers who Genoa a lot of money from marketing their products to Iraq during the past years to enter the Iraqi labor market and invest in them to reduce the production and marketing cost and ensure the continuation of the domination of a large segment of consumers,
which will contribute to providing more jobs for the unemployed , if managed local governments in the candidate provinces for this investment to manage intelligently and responsibly this file, if required on the Iranian investor to run the project for 90 percent of the workforce local.
OOTW: On the other hand, the lifting of the ban on Iran’s banking sector will ease the pressure on the Iraqi market It witnessed an increasing demand for hard currency by Iranian traders who have contributed over the years the blockade on Iran in the fluctuation of the dollar’s exchange rate against the Iraqi dinar due to the increasing demand for hard currency to finance their external trade,
which would mean a decline in the money supply flow rates of the Iraqi market to the Iranian market as well as the expected rise in wages of medical services in Iran, which saw a large turnout during the last years of the before the Iraqi public due to lower prices,
and therefore, the Iraqi market and is looking forward to a new phase of adjustment Stmeliha conditions of the financial crisis and steps of reform will be in front of her supportive opportunity as a result of these changes can be crystallized into a new reality is witnessing more investment available to national energies and employ the data resulting from the changes in the form of trade and economic relations with neighboring Iran.
OOTW: HERE IS THIS FROM THIS WEEK’S GOVT THREAD AND RELATES TO THE ABOVE
OOTW: Minister of Trade … stimulate the private sector is absolutely necessary to protect the local product[Image: 312.jpg]Engineer Mohamed Xiaa Sudanese Minister of Trade and agency stressed the need to seriously contribute to the revitalization of the role of the private sector in order to promote economic and trade development of the country.
He stressed that those measures come through the application of protection products Act No. 11 of 2010, which recommended that the Council of Ministers during its first special meeting held on 08.09.2015 the application of this law, which is part of the reforms launched by Dr Wahid al-Abadi Prime Minister package.
Stressing that all the joints of the ministry’s implementation of this law being is part of the core functions of the Ministry of Commerce, especially as it relates to Bmahora financial and economic reform as well as the protection of the local product and stimulate the private sector and to address the negatives that contribute to flood the domestic market.
OOTW: PLEASE READ ENTIRE THREAD HERE wealthwatch.world/showthr…
He said Abadi, during a meeting this evening a group of analysts Alaarmyin and politicians that there are ministries not the tasks entrusted to it and must be changed to Auseraiha for carrying out its tasks again and that there is a committee of specialists to select Competencies for these positions.
did not specify Abadi During this meeting, a number of these ministries to be covered by the change at the top of this pyramid was also diagnosed ministries.
OOTW: WE HAVE A NEW PRESS RELEASE FROM DR HAFEZ (CONTEMPORARY OF DR SALEH – ABADI’S ECONOMIC ADVISOR)
OOTW: HELLO WHOSWHO – I READ YOUR POST HERE IN CHAT FROM LAST NIGHT – I WOULD ADVISE YOU TO GO INTO THE FORUMS (LINK TOP RIGHT GOLD WEALTH WATCH LOGO) TO READ LOGS OF CHATS AND OTHER INTERESTING NEWS
OOTW: IF YOU’RE LOOKING FOR HYPE YOU WON’T GET IT HERE – HUGS AND WELCOME
OOTW: The whole Iraqi experts on the banks failed to keep abreast of developments in the banking diverse aspects are de, and stressed the need for the Central Bank of Iraq stronger and I do in the policies relating to update the enterprise architecture management and strengthen oversight role.
He attributed the banking expert conciliator Hassan Mahmoud, the reasons for failure of the Iraqi banking sector current Bhacleth , to many factors including the «weakness and confusion in quite a few of the instructions issued by the Central Bank of Iraq between now and then, and withdrawn or modified after days». Not overlooked «poor banking supervision efficiency and professionalism, but lack of seriousness».
OOTW: Promised that these control methods on the banks «not kept pace with the evolution of central banks in developed countries and in neighboring countries, including preventive controls, in addition to the lack of the banking system to the corporate governance rules needed to monitor the performance of the boards executive management and those, and validation of the commitment of the laws, regulations and instructions, and a lack of a culture of banking sector risks and ways to evaluate, manage, and ways to mitigate or reduce them ».
Also included reasons, according to Mahmoud «emergence of the governing bodies and departments of a bank is a professional not related to nor experience nor knowledge of banking work, and lack of qualifications does not have only a sudden financial fortunes hovering suspicions about its sources».
OOTW: “and lack of qualifications does not have only a sudden financial fortunes hovering suspicions about its sources».”
OOTW: THIS SENTENCE IS SPEAKING TO CORRUPT BANKING TRANSACTIONS
lonegunman: ‹@OOTW› hello ! well no kidding !! inept
OOTW: LONE 😉
OOTW: “GROSS DOMESTIC PRODUCT RATIO” REFERS TO A LACK OF PRIVATE SECTOR GROWTH WHICH CONTRIBUTES TO IRAQS GDP – ALTHOUGH AS BUTIFLDRM HAS POINTED OUT, IRAQ’S GDP VS DEBT IS MUCH BETTER THAN THE US…(NO SURPRISE, EH?)
OOTW: He said, in an interview carried by the« life »International:« If we add to him the financial sector increase to 1.75 percent, which is facing the problem of the dominance of state banks to between 85 and 90 percent of the sector’s assets. »
He said that it «hinder the development of private banks, which records diminutive in credit relative to output, as the value of what gave him the banks of credits 23.6 trillion dinars (about US $ 23 billion) in 2013, 8.7 percent of GDP, as opposed to 55 in percent in the Middle East and North Africa.
Share governmental banks and reached 72 percent, while the share of the sector capital is 19.5 percent only ». He pointed to another problem facing the banking sector« The faintly funds that do not meet the needs of development capital, as well as other sources of funding ».
And saw economist Ahmed Abrihi, that «a manifestation of failure in Iraq is not the government’s ability to enforce the law, nor can the central bank alone for censorship and evaluate banking performance level».
OOTW: NEEDED TRANSPARENCY IN THE CBI’S PERFORMANCE
OOTW: I WOULD ALSO ADD THAT THERE HAVE BEEN DIFFICULTIES IN APPROVING AGRICULTURAL LOANS – THIS IS ONE OF IRAQ’S PRIMARY SOURCES OF INCOME DIVERSIFICATION
OOTW: The financial advisor to the prime minister appearance of Mohammed Saleh, that the banking market «non-homogeneous under the State-owned banks to attract capital and deposits, accounting for 90 percent of them, to stay for that special 10 percent ».
He explained that «the last government and private banks operate according to the nineteenth century systems.» He announced that «adults who get a credit of 12 percent, and with each failure banking transaction due to tripping withdraw 32 treatment», as the private banks «very conservative and government contrary, is evident from the large loans granted by the recent size».
Turning favor to currency auction file, saying that «important and necessary», and asked «You could create a bank to the private sector be of his duties the opening credits of the centrality and the shift gradually to cover imports?».
OOTW: THE FORMER GOVT WORKED CONTRARY TO REGULATIONS
OOTW: THESE, IN TURN EFFECTED THE AUCTIONS
OOTW: AS MONIES WERE SENT OUT OF THE BANKS UNDER GUISE OF FAKE PROJECTS AND THEN DISTRIBUTED AMONGST THE AUCTIONS –
OOTW: WE HAVE REPORTED THAT TRICKLE UP
OOTW: The banking expert Samir Alnasiri warned against the «collapse of the banking system in Iraq soon if they do not address the problems faced during the year. »
He stressed that the collapse «means the collapse of the economy.» He pointed out that research and studies and indicators Results «do not receive the attention evidenced by the decline in deposits recorded by the five largest banks in Iraq, as well as the low liquidity and operational, credit and capital investment and profits, without losing sight of the impairment of assets.» He stressed that these indicators «serious».
And MP Mehdi al-Hafez control which is supposed to be exercised by the central bank to «weak and confused.»
OOTW: HAFEZ IS CONFIRMING THAT THE ECONOMY WILL COLLAPSE WITHOUT TIGHTER CONTROLS ON CBI PROCEDURES
OOTW: HOPING HE BECOMES A PUPPET TO SALEH AND HAFEZ AND LEAVES WHAT I TRULY BELIEVE ARE THE CONTROLS (EVEN IF SLIGHT) OF THE DAWA PARTY, UNDER WHICH MOHSEN IS CONNECTED
OOTW: LOOSE THIS GUY ALREADY, WOULD YA?????
OOTW: IF YOU GO TO THIS THREAD, YOU WILL SEE A HISTORY OF SPEECHES AND RELATED NEWS
OOTW: ALSO IT IS NO COINCIDENCE THAT WE’RE SEEN WIDESPREAD INFO FROM THE GOVT AS WELL AS IN THE NEWS THAT IRAQ IS CALLING OUT DUMPING
OOTW: DUMPING IS THE ENTRY OF SHODDY GOODS INTO IRAQ FROM OTHER COUNTRIES
OOTW: PRIMARY TRADE PARTNER IS IRAN
OOTW: LARIJANI AND DELEGATION FROM IRAN VISITED MINISTER OF FINANCE, THE PRESIDENT AND THE PM (AND HOR) OVER THIS PAST WEEKEND
Donnie: ‹@OOTW› is there or is there not corruption on the banks? referring to that article from the weekend that there is no corruption in the banks in Iraq
OOTW: ALSO ARTICLE IN THE FORUM ON THE RELEASE OF 9200 DETAINEES
OOTW: IF THIS ISN’T CONNECTED TO AMNESTY,,IDK WHAT IS
OOTW: WHICH ARTICLE DONNIE?
Donnie: RELEASE OF 9200 DETAINEES was a good read.
OOTW: YES TY
Donnie: Arabic Bank Union denies laundering found in Iraq
OOTW: Courts 9268 release detainees not found guilty last month 2016-01-25 12:43:00 Courts 9268 release detainees not found guilty last month JAMC Settled the country’s courts suspended 14 067 cases during the last month, released in 9268 were not found guilty ratios including them in the same period.
The judge said Abdul Sattar Bayrakdar, spokesman for the judiciary, that “the courts of the country, released last month suspended for 9268 did not prove guilt attributed to them.” Bayraktar said that “7870 detainees were released during the investigation stage, as well as others were released in 1398 at the trial stage.”
He pointed out that “the total unresolved cases by about a year, including those released were 14 067 cases in the same period.” The spokesman stressed that “the Iraqi judiciary continues constantly to resolve the issues of detainees, and stresses the need to complete the investigative files the fastest time in accordance with law.”
Donnie: sorry. laundering not corruption.
OOTW: YES DONNIE I WOULD SAY THAT THE SCTY FOR THE ARAB BANK HAS TO COVER HIS YOU KNOW WHAT
OOTW: THE SECOND ARTICLE IN THAT THREAD STATES THAT THEY ARE ADHERING TO TRANSPARENCY VIA ALL ELECTRONIC TRANSACTIONS
OOTW: THIS IS THE SAME PERSON WHO ANNOUNCED YESTERDAY AS WELL THAT IRAQ HAS 210B USD HELD IN THE RAFIDAIN BANK
OOTW: REMEMBER PART OF THE REASON IRAQ WAS MOVED TO IMF ART 14 IS BECAUSE OF INVISIBLE BANKING TRANSACTIONS
OOTW: YES THE ABOVE ART FROM DR HAFEZ IS STATING CORRUPTION AND/OR LAUNDERING STILL EXISTS IN THE CBI BANKING PRACTICES
OOTW: CAN YOU IMAGINE BEING MOHSEN AND SITTING THERE WHILE DR HAFEZ BASICALLY SAYS YOU’VE DROPPED THE BALL
OOTW: OF COURSE THERES ALWAYS AN ISSUE RE TRANSLATION
Donnie: lol I know
OOTW: HE BETTER GET HIS ACT TOGETHER OR GO GO GO
Donnie: HAFEZ IS CONFIRMING THAT THE ECONOMY WILL COLLAPSE WITHOUT TIGHTER CONTROLS ON CBI PROCEDURES
OOTW: ABSOLUTELY OOTW: TY
Donnie: is HAFEZ referring to a rate change or corruption?
OOTW: BOTH NEEDED CHANGE AND CORRUPTION CONTINUING
OOTW: Integrity court and stop wasting money laundering 600 billion dinars .. address defect “clearing” 2016-01-24 08:54:00 Integrity court and stop wasting money laundering 600 billion dinars and address the imbalance JAMC Specialized issues of integrity, money laundering and economic crime in Baghdad Stop wasting sums Court declared up Akiemha to 600 billion dinars,
indicating that the funds might have acted contrary to the law by “clearing”, and while confirming taken actions led to avoid through the application of this banking system in Iraq, It drew to the arrest and conviction of several accomplices staff regardless amounts for instruments do not carry a balance.
Court judge says achieving integrity in Baghdad, Mohammed Salman told (Media Center Authority Alqdhaiah- JAMC), that “the electronic clearing system designed to speed up the exchange process instruments, and the withdrawal of funds from banks, whether formal or civil.”
In contrast, he pointed to “a significant decline during the last term rates in these crimes,” and attributed it to “the elimination of the defect diagnosis of the clearing, and to inform the banking authorities need to be avoided, has happened recently.”
Salman stressed that the “integrity Court in Baghdad was able to stop the exchange large sums of multiple instruments, including about 600 billion dinars were to withdraw three batches because of the imbalance in the clearing.”
Integrity judge and goes to “the competent court convicted a number of accomplices staff of committing this crime, and various provisions issued against them according to the law.” For his part, he said Iyad Muhsin ligature Court Judge money laundering and economic crime, in a statement to (JAMC), that “the breach in the
OOTW: “the breach in the clearing system gets while pass-term approved for reporting the existence of the amount was withdrawn between the two banks without marking it officially.” Ligature and he added that “this process will lead to the withdrawal of funds contrary to the law, as banks can not be retrieved at a later time.”
According to official statistics, last year the fair court in Baghdad was completed (3298) suit in the role of the investigation and (642) suit in the role of the trial before the competent criminal court and (346) a case before the competent misdemeanor court, in issued 3460 warrant for crimes related to public money .
OOTW: WOW AND THIS IS MORE THAN LIKELY THE TIP OF THE ICEBERG
Donnie: its sad to think of how much corruption/stealing has been going on for so long.
Donnie: Iraq Live Update @IraqLiveUpdate 32m32 minutes ago Iraqi state owned military production companies resume operations on multiple ammunition lines #Iraq
OOTW: I NEED TO POST A RETRACTION
OOTW: BECAUSE OF THE INABILITY TO DECIPHER ARABISH AT TIMES, I GOT SOMETHING WRONG
Donnie: War creates jobs – unfortunately.
OOTW: HE IS PART OF THE INTEGRITY COMMISSION
OOTW: AND THERE ARE ARTS OUT TODAY STATING THAT HE WILL BE REPLACED FOR PRACTICING CORRUPTION IN THE INTEGRITY COMMISSION
OOTW: PLEASE ANYONE FEEL FREE TO POST CREDIBLE NEWS ANYTIME HERE IN THE CHAT ROOM
OOTW: IF YOU’RE BORED..HEAD OVER TO THE FORUMS OOTW: 😉
OOTW: LINK IN GOLD TOP RIGHT OOTW: HERE IN THE CHAT ROOM
Donnie: TY OOTW for all you do to educate us