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Dinar Updates Thursday Early PM Chat 12-29-16 Part 2 of 2
rcookie says():SO...HERE IS THE COMMITMENT TO AMEND THE INTEGRITY COMMISSION LAW BY JANUARY 2017 BY STRENGTHENING ACCOUNTABILITY... OVERSIGHT & INDEPENDENCE ON POWERS IN LINE WITH UNCAC
AND EVEN TELL US WHAT THE AMENDMENTS WILL INCLUDE...
1) ELEMENTS OF LEGAL FRAMEWORK INCLUDING CLARITY OF INYEGRITY COMMISSION MANDATES...OBJECTIVES...FUNCTIONS & POWERS...
2) CLEAR GOVERNANCE OCERSIGHT & ACCOUNTABILITY STRUCTURE...
3) OPERATIONAL & FINANCIAL AUTONOMY...
4) APPOINTMENT ELIGIBILITY CRITERIA...
5) TRANSPARENT RULES F& PROCEDURES FOR DISMISSAL...
6) PROTECTION FOR MANAGEMENT & STAFF...
7) CREATION OF DOMESTIC & FOREIGN ASSET DECLARATION REGIME FOR PUBLIC OFFICIALS...THEIR FAMILY MEMBERS & ASSOCIATES AND REQUIRE PUBLICATIONTHESE ASSET DECLARATIONS...
rcookie says():SO..THIS IS EXACTLY WHAT WE SHOULD LOOK FOR AND EXPECT CONCERNING THE INTEGRITY COMMISSION LAW WHEN AMENDED IN PARLIAMENT...AND WILL BE DONE BY JANUARY 2017....
rcookie says():In line with UNCAC requirements, the Council of Ministers will adopt
and forward to the parliament by December 2016 amendments to the Criminal Code to criminalize all corruption acts including illicit enrichment, bribery in the private sector, and obstruction of justice.
rcookie says():SO HERE...THE CoM BY DECEMBER 2016 FORWARD TO PARLIAMENT AMENDMENTS TO THE CRIMINAL CODE TO CRIMINALIZE ALL CORRUPTION ACTS INCLUDING ILICIT ENRICHMENT...
BRIBERY IN PRIVATE SECTOR & OBSTRUCTION OF JUSTICE...THINK HOW IMPORTANT RTHIS IS ESPECIALLY TO A COUNTRY SO STEEPED IN CORRUTIVE CULTURE AND FOREIGN INVESTOR PRIVATE SECTOR CONFIDENCE....ABSOLUTELY PARAMOUNT!!!!
rcookie says():In line with UNCAC requirements, the Council of Ministers will adopt and forward to the parliament by February 2017 several draft legislations that are currently being finalized by the Commission on Integrity to strengthen the legislative anti-corruption framework. The draft laws are related to access to information, conflict of interest, asset recovery, and protection of whistleblowers and witnesses.
rcookie says():AND LASTLY...BY FEBRUARY 2017 THE CoM WILL WILL ADOPT & FORWARD TO PARLIAMENTDRAFT LEGISLATION CURRENTLY BEING FINALIZED BY THE INTEGRITY COMMISSION TO STRENGTHEN THE LAWS & ANTI-CORRUPTION FRAMEWORK RELATIVE TO ACCESS OF INFORMATION...CONFLICT OF INTEREST...ASSET RECOVERY...AND WHISTLEBLOWER & WITNESS PROTECTIONS...
Holly1 says to rcookie():(handshake)
rcookie says to Holly1():HI HOLLY!!....(F)
rcookie says to Holly1():GREAT TIRE ANALOGY!!.......GREAT STUFF..
rcookie says():THATS THE WHOLE ANTI CORRUPTION MEASURES OF 1ST SBA REVIEW 2016 LOI/MEFP/TMU...
rcookie says():WILL DO BANKING SUPERVISION....AND PROGRAM MODALITIES & MONITORING TOMORROW......
Josie says():http://abcnews.go.com/International/wireStory/iraqs-main-port-receives-large-vessel-time-44448021 A Jordanian investing company says Iraq has received a large vessel for the first time in its history thanks to rehabilitation work on its main port.
The Panama flagged ship MSC Rita docked in the southern port of Umm Qasr on the Persian Gulf with a cargo of 2,641 containers. The 325 meter long ship is the largest vessel ever to dock in Iraq.
rcookie says to Holly1():AND JUST THINK HOW GOOD IT WILL BE ONCE THE ECONOMIC FAUCETS ARE COMP-LETELY OPENED...AND THE CITIZENS RETURNED TO THEIR HOMES & WORKING...
AND ENGAGED IN THE MARKETPLACE...WITH THE ABILITY TO CAPTURE AND REPORT ALL OF THIS ECONOMIC ACTIVITY FROM ALL OF THE PROVINCES........WOW!
Holly1 says to rcookie():oh the tire ANALOGY ... YEAH HE IS A MECHANIC FOR HUGE HAUL TRUCKS FOR A GOLD MINE :D
Holly1 says to rcookie():OH THIS WILL BE SWEET . FOR THEM AND US :)
rcookie says():Saudi Arabia lose $ 100 billion a year
Department: Arab and internationalpublishing history: Today, 17:48Number of views: 886
BAGHDAD / Sky Press:Saudi foreign reserves declined during the year by $ 97.1 billion, on the back of falling oil prices, which is the primary supplier for the budget of the kingdom.
The Saudi Arabian Monetary Agency (SAMA) The reserves declined during the year by about 15%, from 2.383 trillion riyals (635.5 billion dollars) reached in November 2015 to 2.019 trillion riyals (538.4 billion dollars) in November 2016.
The data show that the kingdom's reserves fell, last November, a 1% (about 5.5 billion dollars), compared with October / October, during which 543.9 billion dollars recorded.
Currently, Saudi Arabia suffer from the decline in financial revenue because of falling oil prices, and in the light of this, Riyadh, announced last Thursday, 2017 year budget deficit of 198 billion riyals (52.8 billion dollars).
UK expects to reach its budget revenues in 2017 about 692 billion riyals (184.5 billion dollars), compared with expenditures of 890 billion riyals (237.3 billion dollars).
(Dollar = 3.75 Saudi riyals)
Josie says to rcookie():Sorry, didnt mean to post my article in the middle of the great conversation you and Holly were having. Meant to only type to get ready and hit "enter" too early
Okie Dinar says to Josie():I moved it to the end of that copied chat :)
Okie Dinar says to Josie():Thank you for the news!
Josie says to Okie Dinar():Thought it was interesting. A good sign of pending influx of imports 2017 ? Largest ship ever to dock in Iraq (y)
SRW says():Just wanted to say thanks to BGG for providing this great DU site.. The newstime and call with Hutch, Rc, Mr. White and Daytrader helped me with a great amount of confusion that has been circulating in the past several weeks.. Thankyou last night for the fantastic amount of knowledge these four men have and share with us in a factual way..
Listening to the call one time is not enough for me, it took three times and I need to listen to it several more for all of it to sink in.. Thanks BGG, Hutch, Rc, Mr. White and Daytrader.. Loop you are a Trooper for keeping the news coming in everyday during these last several weeks and all other people that have posted articles of fact.. Thankyou All..
loop says():CBI underlines the lack of responsibility to re-direct customer deposits on behalf of the banks (details)
29-12-2016 04:21 PM East News -The Central Bank, on Thursday, up troubled banks and how to respond to the requests of its customers to withdraw their deposits them and take a range of measures the right, and while cleared of direct responsibility for the reconstruction and customer deposits, has threatened to refer the owners of these banks to the judiciary to protect the interests of customers and the banking sector.
He said the media's central bank said in a statement, said that 'the central bank is following with interest the situation of banks and how to respond to the requests of its customers to withdraw their deposits, and it has taken a number of measures towards banks,
which happened to have stumbled at that and made a quantum leap in their positions, also recently put banks under guardianship to ensure the improvement of their performance requirements and providing them back to the ordinary course of business'.
The statement added that 'those banks stumbled back to the malpractices committed by owners and administrations', threatening 'to refer the owners of these banks to the courts to protect the interests of customers and the banking sector in general'.
The statement stressed that 'the central bank is directly responsible to restore customers' deposits on behalf of the banks', referring to' his commitment to the banks commitment in this regard and make great efforts to ensure that '.
SRW says to Okie Dinar():Very well.. Thankyou..
Basra management reveal their final accounts and emphasizes access to 160 billion dinars for the implementation of new projects
Author: SKM Editor: BK 12/29/2016 21:37 Number of Views: 173Long-Presse / Basra
It revealed the province of Basra management, on Thursday, on the final accounts for the year the current 2016, which was full of "tough challenges" as a result of the lack of appropriations, while shown that ports and other beneficiaries carried out a hundred project, announced the federal government's approval to implement projects service worth 160 billion dinars to maintain hope of completion by the summer of next year 2017.
This came during a press conference held by the governor of Basra, Majed Nasraoui, with his two deputies, in the governorate building, downtown Basra (590 km south of Baghdad), to display the final accounts, attended (range Press).
Said Nasraoui, "The current general in 2016 is in the difficult challenges at the local government as a result of lack of funding," noting that "dedicated to the province of Basra, the amount reached 749 billion dinars, honest provincial council on 264 billion of it operating as a counterbalance, and the rest of the development, but the Ministry of Planning and deleted of the amounts certified by the Board and the amount added to treat patients, which led to the arrival of the amount to 279 billion dinars. "
He said the governor, "The Ministry of Finance has funded conservative 130 billion dinars of that amount because of the austerity policy," noting that "the amount spent on resources including the cleaning project, as well as the districts and sub-districts as well as the purchase of electrical energy and the treatment of patients outside the country."
Nasraoui said, that "the province send a book a month and a schedule of expenditures to the Ministry of Finance and the Office of Financial Supervision being the two destinations Rkabatin on expenses," stressing "the existence of a hundred project carried out with funding from the ports or the beneficiaries during the current year 2016".
For his part, the first deputy governor of Basra, Mohammed al-Tamimi, during the conference, said that "the next phase of Basra will witness the implementation of the value of 160 billion dinars projects, it got to maintain the exception them from the center," noting that "the upcoming projects related to electric power and infrastructure will be carried out before the summer next year 2017 ".
The offer Basra governor and his deputies final accounts after the claim chairman of the Securities and Exchange Commission in the provincial council, Ahmed al-Sulaiti, the administration introduced how to spend 130 billion dinars.
SRW says to Okie Dinar():I am very excited... Now if Subby would just find that elusive RV button I would be estatic.. 8-|:D
SRW says to rcookie():The projects in Basra and the completion of the Port of Faw will be a huge revenue source for the country of Iraq in the coming year.. This is a sign of non oil revenue that Iraq has needed for years.. Going to be a great oppurtunity for the country and employment source for the citizens of Iraq.. Thanks Rcookie for the news.. (y)
loop says():Mafias counterfeiting manipulating Iraq's economy
December 29, 2016 in the versions of the center
The lack of security, government censorship, and the predominance of corruption in Iraq, the most important factors of the Iraqi economy, which is facing many challenges that burdened failure His shoulders and left him at the bottom of the list of the region's economies, a reality that poses a real threat to the future of the Iraqi economy. "
Iraq today faces economic, political and social crises due to corruption and lack of control over the past years has become economical miserable does not occupy any rating among the region's economies and the reason for this dominance of corruption and the owners of foreign agendas aimed at the destruction of Staff of the Iraqi state and make it belonged to them, not to mention the many crises that emerged from the case of full accreditation by Iraq on the Iranian side!
Falsification of the local currency has become common after 2003, due to the absence of regulators, and the collapse of security, and the proliferation of criminal gangs eerily in the streets. Iraq is facing a new problem some people insist on scaled and Exchange Alanzaranha the interest of influential actors, talking about "counterfeiting",
which has become widespread these days, has spread counterfeit currency, especially from the category of 50,000 dinars in the markets of Iraq, however, government data show assured as minor does not live up level phenomenon !!
A member of the Finance Committee in the Iraqi Parliament, Sirhan Ahmed, said that the phenomenon of forgery of the local currency have become a threat to the Iraqi economy, noting that "influential parties unnamed behind the support of the phenomenon," indicating that the views of "suspicious" behind this phenomenon.
More recently, it announced that the Iraqi security authorities, the arrest of a gang specialized rigging the local currency, "Iraqi dinar" in Baghdad, as announced in earlier times set the fake money.
In fact, it was not the first time that the issue of fraud in Iraq show, he got used to hearing the appearance of fraud gangs in Iraq from time to time, and it was the events of Syria and the economic embargo on Iran the greatest impact on the spread of counterfeit foreign mafias and feet mafias currency and presses counterfeiting wash their money in the market Alaracah.ubmsaadh number of followers and its agents in Iraq has introduced a forged Iraqi currency to cite Iraq in order to buy hard currency,
however previous governments, has consistently refused to consider this matter a real phenomenon, Iran has continued to exploit the Iraqi market to circumvent international sanctions, has Anchert gangs and mafias fraud and sell the currency to the accounts of influential politicians and the relationship with Iran.
There are signs that fraud under the supervision of gangs and a link outsourcing news reports from the foil smuggling a large amount of US and Iraqi counterfeit currency from Lebanon Airport to Baghdad has revealed, and according to observers danger lies in the aggravation of this phenomenon on the domestic economy and the popularity of cash counterfeit currency and the growing guerrilla promoter, especially with the absence of security and stability and political and economic crises experienced by the country.
Reports indicate that the counterfeiting and smuggling of money and drain the country's wealth, has become of interest to pursue the work of private banks and some see first and foremost of the Commission of Economy parliamentary those banks that are responsible for some of the money that goes through smuggling to terrorist groups for funding.
Even the government does not yet have any precise figures about the counterfeit currency is currently on the market size, and the reason for this absence of regulatory actors on the market, and weak oversight of the exchange houses deployed in Iraq, as well as due to the fact that these currencies are still there and the current market is difficult for the general public easily detectable only through submission to the specialists.
loop says():Here, experts and analysts believe that the counterfeiting process intended to either a commercial goal of doing a lot of gangs and individuals to achieve illegal financial income, or intelligence purpose is purely intended to destabilize the country played by some organizations and gangs of international support from other countries or destinations economy.
In conclusion, all the countries of the world and their governments keen to protect its national currency in every way and it is known that the currency forgery is the most serious types of fraud because of its negative impact on the economies and development,
and therefore on the Iraqi government to increase its currency immunity through reprinted in the international printing presses can not be rigged and demand as well as more oversight and control of the markets and monitoring the activities of exchange houses and private banks, and tighten control over the border crossings, which are the most important sources of counterfeit currency entering the country,
and the development of deterrent laws of the mafias and gangs of fraud, to protect citizens from fraud operations and to provide confidence in the criticism abroad and make it enjoys international recognition and that Iraq does not become an arena for trading in counterfeit currency in the event of larger amplitude will eventually bring the Iraqi economy.
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