KTFA Members "News and Views" Thursday AM 8-2-18

8/2/2018

KTFA:

2Berds: I need some help to fully understand the events of today. It is exciting that the global trading begins sometime between Sunday the 5th and Wednesday the 8th. This is my question does that mean that Iraq will have to have an exchange rate and not a program rate when the global trading begins? So even though the 2nd article is not revealed yet is this giving us a date of a time frame to expect our miracle?

StephenMac63: That is the consensus imo. Also remember that the article that WS put up about the Dinar being traded on Wednesday, its todays rates that are listed. No way in heck are they gonna put out the rate a week in advance

Davesx: this is probably a silly question but can they go international wed with a program rate wouldnt the whales destroy the dinar simple mind simple question?

StephenMac63: Not a silly question at all, in fact, its a very valid question. Yes, they CAN come out using the program rate. Would they?, imo, it would be suicidal. Why give away your country's assets when you can get premium bucks. Its commerce, not charity. IMO, of course
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​DELTA CAN'T...….. WE DID TALK ABOUT THIS ISSUE IN THE PAST...
IT'S NOT AN OPTION ……..THEY HAVE NO CHOICE

BLAST FROM THE PAST:

Benefits of deleting zeros:

1. Iraqi dinar inclusion within the global currency basket and handle it officially the world’s stock exchanges and financial markets.

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Samson: This post is in relation to WS's post titled .... Iraq has regained world confidence in its banking system

The Public Prosecution receives 180 reports on money laundering and terrorist financing offenses

2018/8/2 8:46

The Central Bank of Iraq revealed the transfer of dozens of reports to the public prosecution.

"The decision of the International Financial Action Organization has helped to gain foreign financial transactions for Iraq, which is very reliable for countries, banks, foreign correspondents and financial institutions," said the governor of the bank, Ali al-Aalak, in a press statement, noting that these parties are afraid to deal with countries that do not have full discipline or control. To combat money laundering and terrorism financing."

He pointed out that "Iraq is currently attractive to international financial and investment institutions and once the announcement of lifting the follow-up drew the attention of all international financial institutions, indicating that among the serious indicators of the country in this framework, it enables to submit 180 reports of the prosecution on suspicion of money laundering or financing of terrorism."

He pointed out that Iraq's financial and monetary transactions are moving in the right direction in conjunction with the development of regulations and regulatory laws as all banks are obliged to establish anti-money laundering units and compliance units, while ensuring the independence of the money laundering and terrorist financing. LINK
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Suzie: SOUNDS LIKE ABADI IS DRAINING THE DESERT - WONDER WHERE HE GOT THAT IDEA

Samson: Member of the victory: an important blow against corruption in the coming days

2018/8/1 22:35

The outgoing government will soon launch an "important blow" against corruption, a member of the ruling coalition led by Prime Minister Haider al-Abadi said.

"We will witness in the coming days an important blow to corruption that will rejoice the Iraqi people," Yusuf al-Kalabi told AFP.

Prime Minister Haider al-Abadi revealed last Tuesday the imminent publication of the results of a campaign against corruption and corruption, and what the government has done on this and who has been referred to integrity and people who have been sentenced. " LINK

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Samson: Tamimi reveals the size of the surplus in the budget for the first half of this year

1st August, 2018

A member of the Finance Committee of the former parliamentary Majida Tamimi, Wednesday, a surplus in the financial budget for the first half of this year.

"The surplus amounts from the general budget for the year 2018 amounted to 7.5 trillion dinars in the past six months," Tamimi said in an interview on Wednesday. "Revenues from 2004 amounted to 873 billion dollars, of which 863 billion dollars were spent," she said.

Tamimi revealed that "the total surplus during the first six months of the year 2018 amounted to 7.444 trillion dinars." Tamimi pointed out that "the total amount of financing the current and investment budgets amounted to 35.029 trillion dinars, compared to the achievement of oil revenues and non-oil 42.576 trillion dinars, as the monthly rate of total revenue 7.096 trillion dinars, while the oil revenue per unit at a monthly average of 6.393 trillion dinars.

She pointed out that "the average monthly spending of the budget amounted to 5.848 trillion dinars, thus the surplus monthly revenue achieved 1,247 trillion dinars." "Revenues from 2004 amounted to 873 billion dollars, of which 863 billion dollars were disbursed," it said. "Al-Tamimi's recent statement was a translation of the demands of the demonstrators," al-Tamimi said. "We have a complete program written by experts and our approach to the blocs comes according to the approach." "There are no people in the world who demand water and electricity as the main demands of a country rich in wealth," she said, adding that "the current political parties, if they want to continue, change their approach."

On the decision of the Prime Minister to withdraw the hand of the Minister of Electricity Qassim Fahdawi suspended Tamimi, who questioned the minister in the previous parliament that "in 2015, 86 financial violations against the Minister of Electricity." LINK

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Samson: Sources: Abadi is in the process of referring 50 senior officials to integrity

2nd August, 2018

Sources close to the office of Prime Minister Haider al-Abadi said on Thursday that the latter is referring files of 50 senior officials to the Integrity Commission to investigate suspicions of corruption and mismanagement, including ministers and deputy ministers.

"The prime minister, Haider al-Abadi, is in the process of referring the files of 50 senior officials to the Integrity Commission to investigate suspicions of corruption and mismanagement, including ministers and undersecretaries," the newspaper quoted the sources as saying.

She added that: the planned actions may take longer because of the nature of files filed and the required audit and review.

She pointed out that "the officials referred to (integrity) ranging positions between ministers and deputy ministers and directors-general in various state institutions." LINK
Samson: The recovery of 10 billion dinars from the transgressors on welfare funds

2018/8/1 21:00

Baghdad: The Ministry of Labor and Social Affairs announced on Wednesday, the recovery of more than 10 billion dinars of transgressors on social protection funds during the first half of 2018.

The Director General of the Social Protection Fund Jacqueline Saliwa said in a statement to the Agency {Euphrates News} that "the Social Protection Authority was able to recover 10 billion and 430 million dinars of those who exceeded the social welfare subsidy funds in Baghdad and the provinces," explaining that "the recovered funds are granted only To eligible beneficiaries who meet the grant criteria."

The spokesman for the Ministry of Labor and Social Affairs Ammar Menem said that "the ministry demanded an increase in financial allocations to expand the coverage of social protection, as the number of applicants for inclusion after the application of the Social Protection Act No. 11 of 2014 amounted to more than one million families, and included (238) The ministry still has other numbers waiting to increase financial allocations so that the beneficiaries can be covered LINK

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Don961: Iranian Parliament: The country's economy is about to collapse

Iran's economy is "on the verge of collapse," a member of the Iranian parliament's budget committee Jahan Bakhsh warned on Tuesday.

This came in a speech before the parliament today, according to reported by the Iranian Workers' News Agency.

"The Iranian economy is collapsing, please be careful. We complain about the government of President Hassan Rowhani for not putting priority issues on the agenda of parliament," Mohbeh Nia said.

Last week, President Rowhani sacked the governor of the central bank, Leila Saif, and replaced him with Abdel Nasser Hamati in an attempt to contain the parallel (black) currency market.

He pointed out that the exchange rate of one dollar reached 112 thousand riyals in the parallel market.

The fall of the local currency coincides with a sharp foreign exchange squeeze and the first US sanctions package will hit Tehran later this month.

The Iranian parliamentarian pointed to the existence of economic problems, especially unemployment and high prices, as well as health and environmental problems.
He stressed that the people facing such problems must be heard. link

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Samson: Renewed protests in Iranian cities and the spread of police forces in some areas of Tehran

2nd August, 2018

Media reported on Thursday the renewed protests against the economic situation in the cities of Isfahan, Karaj and Shiraz, amid the heavy deployment of police forces in some areas of Tehran.

"The protesters rioted, set fire to police cars and chanted slogans including death to the dictator, recorded by videos posted on social networking sites," the Associated Press reported.

Protests in Iran, according to activists, have been triggered by a worsening of living, rising unemployment and rampant price rises in the country's markets amid a severe foreign exchange crisis.

The Iranian currency has recently plummeted to new record high amid growing fears that the United States will re-impose its sanctions on Tehran, which is expected to start work from next Monday. LINK