15-11-2016 08:06 PM Orbit News - Smart card , or commonly referred to as abbreviated 'Ki - Card', was supposed to be the primary purpose of which is to facilitate banking transactions for citizens, and the reduction of financial corruption , especially with regard to those who earn more than a salary from the state,
as well as to keep abreast of the latest development in the countries of the civilized world, all of this is good, but when this card into a 'curse' hinder the exchange salary, and be the cause of corruption, then it has to be reconsidered this project.
In all countries which use the electronic banking transactions through this type of card, you find many companies competing with each other to provide the best services to the citizens, and this process of competition imposed by governments presumably while opening the door to all the companies and from different nationalities.
But what happened in Iraq is very strange, with a monopoly on the smart card company and the name 'Baghdad Card' this kind of work without find her competition, not to the lack of this type of company and the world , but because the 'Baghdad Card' knew how to control the controllers the country and shut the door to competitors.
In 2007 , the company 'Baghdad Card' was founded with a three billion dinars money, having contracted with the Rafidain and Rasheed on the smart card adoption in staff and retired beneficiaries salaries of the two banks Exchange, according to documents and wrote an official about this contract, the company pledged to 'smart card offers 256 service to the beneficiary, and is setting up an ATM in front of all the branches of the two banks in Baghdad and the provinces. "
Records show that the Rafidain Bank accused the company after a period of direct work as 'reneged on the agreement with her, where the smart card does not offer only one service an exchange salary, also did not erect any ATMs', as well as accusations by the Integrity Commission b 'thefts, and the similarity of fingerprints, in a business card to card'.
In turn, the CBI stressed on several occasions that 'Baghdad Card Company is licensed by the bank, did not provide any rudiments for the purpose of obtaining a work permit in this area.'
This company started 'working without a license from the Central Bank of Iraq , ' which is the only party responsible for any activity that cash in Iraq, which is the only authorized the granting of work permits in this area, this makes us wonder how the company was able to acquire a field of monetary exchange in the country without a license ?.
His company Baha Abdul - Hussein al - Saadi, an Iraqi - Canadian dual nationality, but he runs the company of his brother Ibrahim Abdul - Hussein al - Saadi, Saadi was able B'arashaoy 'to monopolize the market on its own and in collaboration with Mir in the national retirement Authority Ahmed Khalil al - Saadi acquisition of 70% of retirees , where the latter was deliberately delaying disbursement of pensions' traditional 'in a timely manner, to'adf' retired to the adoption of smart card 'not to delay the salary schedule through it .'
The funds obtained by the company and continues to accrue are astronomical numbers .
According to official reports, the number of beneficiaries of the company amounted to four million and 500 thousand beneficiaries of retired employees, and every beneficiary pays the amount of ten thousand dinars for issuing smart card, which means that the company earned 45 billion dinars So far , only issuing the card, as well as the amount of three thousand dinars Tsthsalh company for each paycheck is cashed, so they get a month to 13 billion and 500 million dinars from four and a half million beneficiaries ' salaries.
In addition , the company stipulated that every person who wishes to open a port for the smart card, upon deposit of five million dinars as collateral on behalf of the company, according to a source from within the company it currently has 5,000 branches, and therefore the company 's balance of insurance is 25 billion dinars banking interest rate of 4% a year , or one billion dinars.
Despite all this, see the chairman of the Parliamentary Integrity Committee Talal Zobaie, that this company deserves 'biggest reward', so it was announced in a press statement that the 'advance ten million dinars launched by the Rafidain and Rasheed recently via smart card exclusively, to fight corruption in the granting of loans'.
loop says(): http://www.almadar.info/index.php?page=article&id=17146
loop says():Cabinet being minor amendments to the 2017 budget
15-11-2016 07:15 PM Orbit News -, Announced Prime Minister Haider al-Abadi, said Tuesday that the Cabinet has made adjustments 'minor' on some of the legal provisions of the draft budget for fiscal 2017 Act and submit them to the House of Representatives.
1bobby says():That smartcard article was a headscratcher
loop says to 1bobby():Reads like an OP Ed and the writer is not a fan.
1bobby says to loop():One bureaucratic mess for sure
loop says to 1bobby():While I do agree that competition would bring down the cost. But this is Iraq if they had more companies their would be more chances for abuse.
loop says to 1bobby():Easier to audit a single entity and spot abuses. IMO
rcookie says():THE USD MOVES EVERY SINGLE DAY.........SO..........WHAT IS THE STATEMENT/CONCLUSION,,,
rcookie says to loop():YOU BETTER LET FOX IN ON THAT ONE .......LOL...
loop says to rcookie():Not a fan of FOX. I stick to real news sources.
loop says():Iraq reserves drop to $ 43 billion due to corruption
economic Number of Views: 37 11/15/2016 16:48
Center Brief National / NNC- The Commission on the parliamentary economy and investment, on Tuesday, Iraq's reserves of hard currency drop to $ 43 billion as a result of the auction of the currency, noting that the need to stop the auction of the currency.
Said committee member Abdul-Salam al-Maliki in a press statement that Iraq's reserves of hard currency in the Central Bank fell to $ 43 billion, as a result of the continued depletion of Iraq's assets in an auction sale of the currency, noting that the central bank sells at auction a month nearly six billion dollars in return oil imports not up to that amount.
He added that the auction of the currency has become a window for corruption and money laundering by agreement between the state and civil banks and corrupt employees in the central, stressing that most of the money laundering operations and are bleached in the bank under political cover.
And between Maliki that the staff at the central bank deliberately Exchange volatile instruments and clips delay to international banks to deal with the Iraqi government, to keep money in the bank and turn it into a private transfer Bmtnfven companies in return for large commissions, pointing out that many of the international banks refrained from dealing with the Central Bank, because this case.
Maliki pointed to the need to stop the auction currency and waste of public money, because the continuation of the auction will lead to a reset of the Iraqi reserves, calling to determine a certain amount does not affect the Iraqi reserves are sold every day.
loop says(): LINK
rcookie says to loop():NOW.....TALK ABOUT HILARIOUS......WHAT DO WE KNOW ABOUT THAT ARTICLE CONCERNING RESERVES........
loop says():We know that 2 weeks ago the CBI reported that the reserves were 47 billion dollars. Highly unlikely that they went down 4 billion since then.
rcookie says to loop():THOSE ARE THE EXACT ARTICLES ALAK......SALEH AND EXCONOMIC ACADEMICS CHASTISE THE MEDIA AND POLITICIANS ABOUT...BECAUSE THEY INSTILL CONFUSION AND UNDERMINE CONFIDENCE TO AN ALREADY UNINFORMED DISTRUSTING PUBLIC...
WHILE THEY ARE TRYING TO RAISE CONFIDENCE AND IN THE MEIDDLE OF A MASS PUCLIC AWARENESS & EDUCATION INITIATIVE AT EVERY LEVEL.....
loop says():We also know that the auctions are being looked at very closely now by the investigators and systems are in place to catch the manipulators. SO this guy
loop says():is blowing smoke..
rcookie says to loop():WE KNOW THE IMF HAS THEM PROGRAMMED TO BE AT $43 BILLION AT END OF 2016....AND SUBSEQUENTLY STATING THJEY WERE PLEASED TO FIND AN ADDITIONAL $10 BILLIOPN MORE THAN WAS PROGRAMMED...
rcookie says to loop():EXACTLY.......GREAT FIND AND POINT LOOP!!!!!!!!!!!!!!!!!
loop says():If the major players are saying one thing and other are saying something different. Who should you believe?
rcookie says to loop():PROPOGANDA DESIGNED TO CONFUSE AN UINFORMED PUBLIC...............HMMMMMMMMM....HMMMMMMMMM...NO W WHERE HAVE I HEARD THAT BEFORE.....
_firefly_ says():Back in 2011?
rcookie says to loop():IM SURE ITLL COME TO ME..........
loop says():Just look at the last name of the person talking al-Mailki wonder if he know Nouri?
_firefly_ says():Low central bank sales of the dollar during the current year
2016/11/15 | 10:41 Economy News Baghdad , according to statistics of the Central Bank of Iraq, the sale of the bank more than $ 27 billion in the auction for the sale of foreign currency since thebeginning of the year 2016.
According to statistical According to the website of the bank that the quantity sold to banks from the date ofJanuary 2016 3rd to Sunday Nov. 13, amounted to 27 billion, 921 million, 177 thousand, and $ 867.
These sales recorded a significant decline for the same period last year, reaching 412,015 from the date until November 13 of the same year , 37 billion and 653 million and 615 thousand and $ 389, a decrease of about $ 10 billion.
And sells CBI, in a weekly auction except public holidays amounts of dollar often exceed the barrier of $ 100 million, to banks and money transfer companies.
The face of the bank, licensed banks and money transfer companies , broker for the sale and purchase of foreign currencies by reducing the quantities of all foreign selling of US dollar currency for those wishing to travel outside the country.
And select the bank to sell these entities amount to $ 3000 instead of five thousand dollars for citizens wishing to obtain a dollar to cover their expenses abroad.
loop says():Jubouri and the King of Jordan discuss ways of cooperation between Iraq and the Arab world
15/11/2016 (Independent) .. Search House Speaker Salim al-Jubouri, Tuesday, in the Jordanian capital Amman with King Abdullah II of the Hashemite Kingdom of Jordan, the most prominent political and security developments in the region, particularly the Iraq war being waged against terrorism in order to prevent its spread in the region.
They also discussed ways to coordinate cooperation between Iraq and its Arab environment to maintain the security of the Arab and regional area.
The head of the parliament that Iraq and the Hashemite Kingdom of Jordan Nbarthma close ties always witnessing developments and large gears at all levels, especially since the two countries have many participants and the bonds of brotherhood and neighbors, and they were eager to strengthen and consolidate these relations a way that promotes stability and Ahakiq bilateral interests.
For his part, King Abdullah II affirmed that Iraq is a big country of significance in the whole region and the Kingdom of supportive fundamental him in his war against terrorism and in various fields. (End)