The US Federal Reserve exposes 60 banks and a new way to smuggle dollars by forging airline tickets


Baghdad / Tamim Al-Hassan

The exchange rate of the dollar has risen again after a limited decline, while the fate of those involved in what is known as the “theft of the century” is still unknown.

The US intervention in preventing currency smuggling was exposed by dozens of banks in Iraq that were described as “shops” for currency smuggling.

On the other hand, operations to circumvent the new conditions to maintain the stability of the dollar price are still going on, the latest of which is the forgery of “travel tickets”!

In conjunction with these events, the issue of theft of tax secretaries interacts after the government announced the recovery of another small batch of money equal to 1% of the remaining amount.

According to information, the theft case may end with only one accused being held accountable, and it is likely that his trial will take place after a few days, in return for covering up for the rest of the parties.

In addition, the security forces cut off yesterday evening, Al-Rashid Street in central Baghdad, due to demonstrations against the Central Bank, in protest against the continued high price of the dollar.

The exchange rate of the dollar had fallen last week to the threshold of 1,500 dinars after the government announced a number of measures to control the foreign currency, but with the beginning of this week it returned to nearly 1,600.

And about that crisis, an informed political source says in an interview with (Al-Mada) that “the rise of the dollar continues because private banks have not yet adapted to the American conditions.”

Al-Mada had revealed, earlier, direct American intervention in the process of controlling currency smuggling, which was then supported by the statements of Finance Minister Taif Sami.

And the source, who asked not to be named, said, “The American conditions have exposed more than 60 private banks so far because they do not have a real banking system.”

The source described those banks as “shops that forge import bills and smuggle foreign currency.”

Only about 20 private banks out of more than 80 banks entered the new system established by the US Federal Bank within the Central Bank.

The source revealed that “some of the banks that entered the new platform continued the process of forging invoices and were exposed.”

On the other hand, the source confirmed the existence of a new circumvention of these procedures, represented by the fact that “some banks provide fake travel tickets in cooperation with travel companies for the purpose of obtaining the dollar, which is given at the original price from the Central Bank, which is 1475 dinars for one dollar.”

Al-Mada viewed a document issued by the Tourism Authority addressed to travel agencies asking them to “commit not to issue incorrect or cancelable travel tickets after the non-traveling citizen receives the amount allocated to the traveler for the purpose of trading in hard currency (dollars).”

The tourism book warned companies that do not comply with these conditions of exposure to “immediate legal accountability.”

According to previous information received by Al-Mada, the volume of hard currency smuggled every week ranges from 100 to 250 million dollars, at least half of which goes to Tehran and the rest goes to 3 neighboring countries.

In the meantime, the former member of the Parliamentary Integrity Committee, Rahim al-Darraji, revealed that the currency had escaped just days after it entered Iraq.

Al-Darraji said in an interview with (Al-Mada) that “when the money from selling oil is converted into dollars, the currency has serial numbers, and the US Federal Bank discovers after two or three days that the currency has moved to another country.”

Al-Darraji, who is the head of the Kafa movement, said that “banking companies manipulate the exchange rate despite the existence of a rate from the Central Bank,” noting that “there is a special section in the National Security Agency, which is (economic security) concerned with monitoring these companies, and it must move to close the violating offices.”

The Central Bank had decided to expand the number of bank outlets for selling foreign currency to 20 banks.

And a statement by the bank stated last Monday, “It was decided to expand the number of bank outlets for selling foreign currency from 10 banks to 20 banks.”

He added, “The Central Bank also decided to increase the amounts allocated to these banks weekly to meet the largest possible number of those covered by the purchase of foreign currency, in accordance with the instructions and controls issued by the bank.”

In addition, the controversy has returned again over the issue of stealing the century, after the integrity announced the recovery of 4 billion dinars.

The head of the commission, Haider Hanoun, refused in a press conference held the day before yesterday to mention the name of the person who returned the money, but the leaks indicated that he was an advisor to former Prime Minister Haitham al-Jubouri.

According to information reached by (Al-Mada), “The wife of Haitham al-Jubouri, who has been imprisoned for a month, returned the money after selling a house in the Qadisiyah area, west of Baghdad.”

According to the information, “Al-Jubouri will be tried next week in place of all those accused of theft because the incident is linked to parties and factions.”

In this regard, the deputy close to the coordination framework, Mustafa Sanad, said in a post on Telegram that “the accused Haitham al-Jubouri asked to be released on bail and pledged to recover the inflated amounts, following the example of the model Nour Zuhair.”

Al-Jubouri, the former head of the Parliament’s Finance Committee, was arrested at the end of last year, on the grounds of “theft of the century” and his wealth ballooning to 16 billion dinars.

More than two weeks ago, the government announced the recovery of the second batch of Nour Zuhair, the most prominent of those involved in the theft, bringing the total amount recovered to 300 billion dinars out of about 4 trillion dinars.

In the last conference held by the Chairman of the Integrity Committee, he said, “The funds recovered today amounted to 4 billion Iraqi dinars, which is part of a total of more than 17 billion.”

The head of the Integrity Commission stated that “13 billion dinars and some millions are still owed by the accused, stressing that work is being done to recover them,” adding, “The trial of the accused will take place on January 12,” but he refused to reveal his name.

Hanoun noted that “Iraq will recover, during the next two days, 80 million dollars from the United States of America, smuggled since the time of the former regime.”


Demonstration “under rain” in front of the Central Bank of Iraq .. photos, videos

The CommunityBreakingDemonstrationThe Central Bank Of IraqDollar Exchange Rates

2023-01-04 05:03Font

Twilight News / Dozens of people organized on Wednesday a demonstration in front of the Central Bank of Iraq in the center of the capital Baghdad to demand a depreciation of the dinar exchange rate against the US dollar.

The reporter of Shafaq News Agency said that the demonstration was organized, today, in front of the Central Bank building on Rashid Street in central Baghdad, despite the heavy rainfall, explaining that the demonstrators demanded a reduction in the exchange rate and return to 118 thousand dinars per hundred dollars.

Last Friday, Finance Minister Taif Sami revealed new details related to the draft federal budget law of 2023, and pointed out that it included a fixed exchange rate for the dollar amounting to 1450 dinars.

Demonstration "under rain" in front of the Central Bank of Iraq .. photos, videos

video 1مجتـمع/تظاهرة-تحت-ال-مطار-مام-البنك-المركزي-العراقي-صور

Deputy Reveals The Reasons For The Budget Delay, The Features Of Its Paragraphs And The Date Of Its Approval

Iraq news

on January 4, 2023

Independent/- Member of the Parliamentary Finance Committee Jamal Cougar revealed the reasons for the delay in the budget, the features of its paragraphs and the date of its approval in the House of Representatives.

Cougar said in a press statement followed by the independent, that the delay in sending the budget is due to several reasons, including that the government formed a delay, and also the government’s plan was to have the price of a barrel of oil above $70 per barrel, but the drop in oil prices re-examined the price of a barrel again, as well as differences between×391&!1&btvi=1&fsb=1&xpc=ndLhaSTanX&p=https%3A//

“The budget is likely to be approved in February as after the legislative holiday it will be sent from the government to the House of Representatives, and it needs at least 20 days to read, study and then approve it,” he explained.

Cougar suggested that the government should have the price of a barrel of oil hut (65-70), to be able to provide services to citizens and complete projects, considering that without services it would affect the social reality of the country.

He stressed that even if oil prices fall in the future, we have a fiscal surplus, and an excellent bank reserve that we can go to.”

نائب يكشف اسباب تأخر الموازنة وملامح فقراتها وموعد اقرارها

Central Bank issues guidance to banks on the collection of customs duties and tax amounts

economy| ʿʿ 09:40 – 04/01/2023


Baghdad – Mawazine News
On Wednesday, the central bank issued a directive to all banks on the collection of customs duties and tax amounts.

A statement by the Central Bank said that “based on what was stated in the Council of Ministers’ decision No. (315) of 2022, which includes not to work on the mechanism of meeting customs tax trusts in advance provided for in Article 16/IV of the Federal Budget Law for the fiscal year 2021, in order to expire with the end of the mentioned fiscal year, it was decided to cancel

He pointed out that “the General Authority for Taxation and the General Authority of Customs will do their fundamentalist dirhams in accordance with their laws and instructions to organize their work by completing the fees received to Iraq at the border crossings.” Finished 29/n33

World Bank: Iraq burns 12% of global gas at a cost of $2.5 billion annually

  • Time : 2023/01/04 07:28:30
  • Read : 936 times
World Bank: Iraq burns 12% of global gas at a cost of $2.5 billion annually


{Economic: Euphrates News} The World Bank has set its vision on ridding Iraq of the disadvantages of burning the associated gas, the cost of losing it, and the amount of funds needed to invest it.

“A $36 billion investment will fully convert this gas into energy by 2030,” the bank said in its report (Climate and Development).
“The report is an analytical basis for harmonizing development and climate action, as it asked four basic questions, which are how climate affects the country’s development, who is most affected by its change, and the effects of low-carbon transformation, how Iraq can respond to its development needs in a cost and in a climate-smart way, and how it can finance the transition to low carbon,” the adviser to the Parliamentary Health and Environment Committee, Ammar Al-Atta said in a press statement.
He added that “the report focused on three main sectors: water, energy and transport, and pointed to dangerous figures, including that climate change will increase water scarcity by 20%, which will reflect on GDP, unskilled labor and increase prices for consumers. The report also stressed improving water efficiency, which can mitigate these effects.”
Al-Atta pointed to important figures in the field of energy, which are that “12% of the burned gas in the world is in Iraq, and it costs to burn 2.5 billion dollars annually, so Iraq needs investments to convert gas into energy estimated at $ 36 billion until 2030, and the transition to low carbon in Iraq must be accompanied by reforms in the electricity sector, support for financial conditions
“The report called for the need for development measures and low economic costs such as the establishment of a sovereign wealth fund to ensure the recovery of the costs of the energy sector, the elimination of gas flaring, the improvement of water use efficiency, the promotion of private sector participation in the economy and the adoption of a national governance framework for climate change,” the adviser in parliament explained.
The report omited, according to Atta, “the aspects of the transition towards clean energy, as the report stressed the importance of solar energy, but did not take into account the issue of dust and dust storms, which is that Iraq is about to have 300 dusty days, which affects the efficiency of the work of solar cells, as well as that Iraq is an oil country rich
He warned “the housing sector and how it can reduce emissions and rationalize energy consumption using environmentally friendly building materials, and technologies that isolate walls, ceilings and windows that reduce energy consumption by 40%.”البنك-الدولي-العراق-يحرق-12-من-الغاز-عالمياً-بكلفة-2-5-مليار-دولار-سنوياً