News — Dinar Recaps Blog Page — Dinar Recaps (2024)

Good Evening Dinar Recaps,

Essentially, this revelation reinforces the idea that Ripple is not just working in isolation but is actively engaging with major global financial institutions like the IMF.

Such collaborations could pave the way for Ripple to play a more central role in future financial systems, particularly in regions where digital innovation and financial modernization are priorities.

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Listen and learn from this man. He has facts and shares with us as we all wait. Share with others!

August 21, 2024 12:00 Central Noon, 1 pm ET

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Directly from Isaac when ask for a bio

“But understand I do not have contacts.Isaac

"I have buyers the us treasury , DOD , Admiral , HSBC several big platforms that I have signed contracts with all and they paid already for the inspection several times"Isaac

See photos of Isaacs bonds here:

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MP Mustafa Sand: The Government Failed To Control The Dollar File

Buratha News Agency 2024-08-20 Member of the Parliamentary Finance Committee, Mustafa Sand, considered that the government and the Central Bank failed to control the exchange rate of the dollar against the Iraqi dinar.

Sand said in a press statement that "the government did not succeed in controlling the dollar exchange rate due to the policies of the US Federal Reserve, noting that the Iraqi side's discussions with the American side did not achieve any positive results except for a protocol meeting with Biden that did not exceed 20 minutes only." He pointed out that "there is American guardianship to bring in the Jordan National Bank and its acquisition of hard currency."

https://burathanews.com/arabic/economic/449933

Foreign Remittance Sales At The Central Bank Of Iraq Auction Increased By Nearly 100%

Time: 2024/08/20 Reading: 741 times {Economic: Al Furat News} Foreign remittance sales rose in the Central Bank auction on Tuesday by 99% over cash sales, reaching more than $264 million.

The bank sold in its auction today 268 million, 304 thousand and 25 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.

Most of the dollar sales went to boost balances abroad in the form of transfers and credits, which amounted to $264,954,025, up 99% from cash sales of $3,350,000.

The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 15 banks, and the total number of exchange companies participating in the auction was 6 companies. LINK

Government Advisor: Al-Alaq's Upcoming Visit To New York Will Support The Protection And Stability Of The Banking System

Economy |08/19/2024 Government Advisor: Al-Alaq's upcoming visit to New York will support the protection and stability of the banking system https://www.mawazin.net/Details.aspx?jimare=253602

Reuters: BP's Deal With Iraq Will Be Based On Profit-Sharing Model

Energy Economy News – Baghdad An agreement with BP to develop oil and gas fields in Kirkuk will be based on a profit-sharing model, and a final deal is expected by the end of this year, two oil ministry officials told Reuters.

Iraq and BP signed a preliminary agreement this month to develop four oil and gas fields in the Kirkuk region of northern Iraq, an area where BP estimates about nine billion barrels of oil could be extracted.

The two officials said the ministry and BP, which is returning to the region after an absence of about five years, are expected to sign an agreement, the terms of which will not be disclosed, this week under which Iraq will hand over a data package for the four Kirkuk fields and their facilities.

The two officials spoke on condition of anonymity because they were not authorized to speak to the press. BP has not yet responded to a request for comment.

BP withdrew from the area in late 2019 after a service contract signed in 2013 expired without reaching an agreement to expand the field. 08/20/2024 https://economy-news.net/content.php?id=46541

Oil Falls To $77.54 Per Barrel

economy | 07:32 - 08/20/2024 Mawazine News – Baghdad Oil prices fell on Tuesday (August 20, 2024) after Israel accepted a proposal to narrow differences holding up a Gaza ceasefire, helping ease concerns about supply disruptions in the Middle East.

Brent crude futures fell 12 cents, or $2.02, or 0.15 percent, to $77.54.

U.S. West Texas Intermediate (WTI) crude futures for the front month, which expire on Tuesday, were at $74.23 a barrel, down 14 cents, or 0.2 percent.

The more actively traded second-month contract was down 15 cents, or 0.2 percent, at $73.52.

Brent fell about 2.5 percent on Monday, while WTI fell 3 percent.

U.S. Secretary of State Antony Blinken said on Tuesday that Israeli Prime Minister Benjamin Netanyahu had accepted a “rough proposal” from Washington to address differences holding up a Gaza ceasefire, and urged Hamas to accept it as well.

But there is little sign of the war abating or of fears of its spread easing, with Hamas announcing a resumption of suicide bombings inside Israel after many years, claiming responsibility for an explosion in Tel Aviv on Sunday night, and medics saying Israeli military strikes killed at least 30 Palestinians in the Gaza Strip on Monday.

Supply concerns have also been eased by a rise in output from Libya’s Sharara oilfield to around 85,000 barrels per day (bpd) in a move to supply the Zawiya oil refinery, two engineers working at the field told Reuters on Monday.

Libya’s National Oil Corporation declared force majeure on oil exports from the field on August 7 after a blockade by protesters slashed output from the field, which normally stands at 300,000 bpd.

On the demand side, concerns about China’s economic troubles have also weighed on oil prices. After a bleak second quarter, the world’s second-largest economy lost further momentum in July as new home prices fell at the fastest pace in nine years, industrial output slowed, export and investment growth declined and unemployment rose.

Meanwhile, investors are also awaiting a signal on the Federal Reserve’s plans for its next interest rate decision.

The bank will cut rates by 25 basis points at each of its three remaining meetings in 2024, a bigger cut than expected last month. Fed

Chairman Jerome Powell will speak at Jackson Hole on Friday and investors assume he will make a case for a rate cut.

Lower interest rates lower borrowing costs and could boost oil demand in the world’s biggest oil consumer. https://www.mawazin.net/Details.aspx?jimare=253604

Start Of The Trial Operation Of The Investment Iron And Steel Plant In Basra With A Capacity Of 350 Thousand Tons Annually

Tuesday 20 August 2024 | Economic Number of readings: 117 Basra / NINA / The Chairman of the Basra Investment Commission, Eng. Alaa Abdul Hussein Salman, announced the start of the experimental operation of a new investment iron and steel factory with a production capacity of 350 thousand tons annually, which will contribute to meeting the needs of the governorate and neighboring governorates for iron.

He said in a statement, "The cost of establishing the project in its first phase amounted to $ 54 million on an area of ​​160 acres. The equipment was imported from Italy and America to include six furnaces and a rolling unit.

He pointed out that the Ukrainian-Russian crisis has greatly affected the import of iron to Iraq, highlighting the importance of the project in reducing dependence on imports.

In turn, Engineer Yasser Al-Abdeli, Director of the Factory, explained that the construction of the project began in 2021, with the attraction of companies with a global reputation in the iron and steel industry, adding that the factory will produce reinforcing steel in sizes ranging from 10 mm to 32 mm, with plans to add new production lines for screws and nails in the future.

Basra Governorate has recently witnessed the opening of a group of factories that are expected to contribute to achieving economic stability, providing new job opportunities and supporting economic development in the region. https://ninanews.com/Website/News/Details?key=1148803

For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/

IOU YOU: "Value in Gold, Fraud in Fiat" | Mike Maloney LIVE | Rebel Capitalist Part 2

In this eye-opening video, Mike Maloney delves into the dark truths of the global monetary system under fiat currency.

Discover how the current system is built on IOUs that sell off your future labor, creating a cycle of debt and economic enslavement.

Learn the stark differences between real money under the gold standard and the modern-day fiat currency that is created out of thin air.

We uncover the fraud behind bank credit creation and how this system devalues your hard-earned money, robbing you and future generations of wealth and freedom.

If you're ready to challenge everything you thought you knew about money, this is a must-watch!

Part 1: https://www.youtube.com/watch?v=vPsmkMmraAs&t=136s

https://www.youtube.com/watch?v=wfrIxaMTgMQ

Global Crash Ahead?| China & the US Establish Joint Anti-Financial Crisis Group in a Surprise Move

Lena Petrova: 6-20-2024

https://www.youtube.com/watch?v=vmFbvulLsaM

Something BIG IS ABOUT TO HAPPEN... AND ITS EFFECT IS GOING TO BE EXTREME.

Greg Mannarino: 8-20-2024

https://www.youtube.com/watch?v=4Pw2ailQE5A

Good Afternoon Dinar Recaps,

Source:FinExtra

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Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service:

“Today, we cannot run away from cryptocurrency. But as we are here today, there is no law anywhere in Nigeria that regulates cryptocurrency. But it is the new thing that is happening, and we cannot run away from them.”

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TNT:

Tishwash: This is NOT the WTO

Trade discusses the mechanism for Iraq's accession to the World Trade Points Federation

The meeting also discussed the issue of transforming the electronic trade systems currently operating within the international arena in order to raise the export level of the Iraqi private sector and introduce the outside world to the comparative advantage of Iraqi industries.

The union includes more than 74 countries in its membership, including 6 Arab countries.link

Tishwash: Government Advisor: Al-Alaq's upcoming visit to New York will support the protection and stability of the banking system

The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh, confirmed on Saturday that the upcoming visit of the Governor of the Central Bank, Ali Al-Alaq, to ​​New York will support the protection and stability of the banking system, while he pointed out that the file of the sanctioned banks requires negotiation due to the possibility of an error or exaggeration in issuing the decision to sanction them.

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Tishwash: Economist identifies weaknesses in banking system: 80% of money supply in citizens’ homes – Urgent

Financial and economic affairs expert Alaa Jaloub Al-Fahd revealed today, Sunday (August 18, 2024), a weakness in the Iraqi banking system, while confirming the presence of 80% of the cash mass in citizens’ homes.

Al-Fahd told Baghdad Today, "The amount of cash liquidity pumped into the local market is estimated at the size of annual government spending, and this includes salaries, wages, and others. It constitutes a large percentage and is considered the citizen's purchasing power."

He added that "the rise in income levels after 2003, due to the increase in salaries, led to an increase in purchasing power, and this led to an increase in the level of demand for real estate and other things," indicating that "the rise in real estate prices has nothing to do with the issue of the increase in the citizen's cash liquidity or not, because this increase is dependent on the issue of supply and demand."

Al-Fahd explained that "any increase or decrease in the volume of liquidity is estimated by the size of real spending and the size of savings, considering that the citizen's income is divided between consumption and savings, and the higher the savings rate, the more it is supposed to be exploited economically through investment."

He pointed out that "there is a weakness in the banking system's ability to absorb all the cash available to citizens, as most of this cash is inside homes, far from banks," noting that "the amount of cash available to citizens in homes is estimated at more than 80% of the issued cash mass, and this constitutes a weakness in the banking system, in withdrawing that mass and investing it."

It is noteworthy that financial expert Saleh Al-Masrafi confirmed on Tuesday (August 6, 2024) that Iraq is among the highest countries in the Middle East in the file of hoarding money, while he diagnosed a grave error in the Iraqi banking system.

The banker said in an interview with Baghdad Today, "The accumulations that have continued for many years have pushed citizens to lose confidence in banks and resort to hoarding money in their homes," indicating that "its percentage reaches 70% of financial liquidity, and these are large numbers that indicate that we are among the highest countries in the Middle East in hoarding money."

He added that "hoarding money in the financial concept is a grave mistake that will confuse the financial process and reduce the government's ability to provide liquidity to pay salaries," explaining that "resorting to electronic payment is a step in the right direction, but the most important thing is withdrawing liquidity, and there are several ways."

The banker pointed out that "the recent issuance of treasury bonds is a correct decision, but the media propaganda to create a culture of safe investment in the street is very weak, and this is what creates low rates of dealing with them, even though the interest rates are attractive."

He stressed the "necessity of seeking to expand the circle of withdrawing liquidity from homes and creating a movement of money that contributes to increasing the recovery of investment and granting government loans, especially with the presence of requests that exceed by 5 times the amount of money allocated for loans in any sector, especially housing." link

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Tishwash: It can revive the Iraqi budget.. $14 billion in “losses” due to the halt of Kurdistan’s oil exports

Oil consultant and expert, Govind Shirwani, revealed today, Monday (August 19, 2024), that the losses from stopping the export of oil from the Kurdistan Region exceeded $14 billion after a year and a half of cessation.

In an interview with Baghdad Today, Sherwani said, “The losses of not exporting the Kurdistan Region’s oil through the Turkish port of Ceyhan exceeded 14 billion dollars, and this is a very large number, and it could have revived the Iraqi budget, which suffers from a lack of liquidity.”

He added, "There are meetings between the Iraqi Ministry of Oil, the Ministry of Natural Resources in the region, and some representatives of foreign companies, but so far there have been no positive indications indicating the resumption of oil exports, but the participation of the three parties in itself is good progress."

Turkey had earlier halted Iraq's exports of 450,000 barrels per day via the oil pipeline that runs from the Kurdistan Region in northern Iraq to the Turkish port of Ceyhan on March 25, 2023.

Turkey's decision to suspend exports came after an arbitration ruling by the International Chamber of Commerce ordered Turkey to pay Baghdad $1.5 billion in compensation for damages caused by the Kurdistan Regional Government exporting oil without permission from the government in Baghdad between 2014 and 2018.

Attempts to restart the pipeline have been delayed by Turkey's presidential election last month and discussions between the Iraqi government's state oil marketing company SOMO and the Kurdistan Regional Government over an export deal that has now been reached.

Among the issues to be resolved is whether Turkey will seek to negotiate the size of the compensation ordered by the International Chamber of Commerce, sources told Reuters earlier.

It also wants outstanding issues in other open arbitration cases to be permanently resolved before it agrees to resume flows, the sources said.

The Kurdistan region is suffering from a cash shortage due to the pipeline shutdown, and Iraqi politicians and Kurdish lawmakers said the region had no choice but to approve the budget, from which it would receive 12.67 percent of the total 198.9 trillion dinars ($153 billion).

The loss in revenue for the Kurdistan Regional Government due to the 80-day oil shutdown amounts to more than $2 billion, according to Reuters calculations based on exports of 375,000 barrels per day, in addition to the historical discount the KRG offers relative to the price of Brent crude.

The pipeline also exported about 75,000 barrels per day of federal crude link

Good Morning Dinar Recaps,

▪️US agencies aim to treat cryptocurrencies as traditional money for reporting purposes.
▪️Final rulemaking on crypto as money expected by September 2025.

On August 7, the DOJ asked the United States Sentencing Commission to update its guidelines to provide additional penalties for crimes committed with the aid of AI.

Source:CryptoBriefingandFederal Register

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Iraq Dinar News -IQD Update - A ReCap of Events - PetroDinar - Al-Sudani Monetary Reforms - Underway

Militia/Man and Crew: 8-19-2024

https://www.youtube.com/watch?v=UXTazPcWLUo

A Government Advisor Expects An Increase In American Demand For Iraqi Oil.. And Explains The Reasons

Time: 2024/08/18 Read: 2,405 times {Economic: Al Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, expects an increase in demand for Iraqi oil.

Saleh told {Euphrates News} agency, "There is an increasing trend in the United States' demand for Iraqi crude oil, as the US Energy Information Administration announced a significant increase in US imports of Iraqi oil during the current month of August 2024."

He added, "The continued increase in demand for Iraqi oil is mainly supported by increased economic activity within the United States. Available data indicate that US demand for oil in general, including Iraqi oil, has increased as a result of improved retail sales and more-than-expected US economic growth.

This growth has had a positive impact on higher oil prices and increased oil imports from Iraq, which has become an important position in meeting the needs of the US market."

Saleh continued, "This increase also comes within the framework of a general increase in Iraq's oil exports in recent years, driven by the country's increased capacity to produce oil and the rise in global demand, especially during the war in Ukraine."

He pointed out that "the trends of increase in US demand for Iraqi oil began at the beginning of this year. During the month of March 2024, US imports of Iraqi oil reached 7.75 million barrels, an increase of about 2.39 million barrels compared to the month of February, in which imports reached 4.68 million barrels of oil per month." LINK

Oil Prices Fall Due To Chinese Demand Concerns And Middle East Tensions

Economy | 08/19/2024 Mawazine News – Baghdad Oil prices fell in early Asian trade on Monday, as concerns about weak demand in China, the world's biggest oil importer, weighed on market sentiment.

Investors also focused on progress in Middle East ceasefire talks, which could reduce supply risks, Reuters reported. Brent crude futures were down 13 cents, or 0.2 percent, at $79.55 a barrel by 0032 GMT.

West Texas Intermediate (WTI) crude futures were down 13 cents, or 0.2 percent, at $76.52 a barrel. Both benchmarks fell about 2 percent on Friday as investors tempered expectations for growth in demand from China, but ended the week largely unchanged from the previous week after a slew of U.S. data last week showed slowing inflation and strong retail spending.

“Continuing concerns about slowing demand in China have led to a sell-off,” said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities.

“Another factor is the approaching end of the peak summer driving season in the United States.” “Tensions in the Middle East and an escalation in the war between Russia and Ukraine, which pose supply risks, are supporting the market,” he said.

Data from China on Thursday showed its economy lost momentum in July, with new home prices falling at the fastest pace in nine years, industrial production slowing and unemployment rising.

That has raised concerns among traders about weaker demand from China, where the country has cut its Refineries sharply cut crude processing rates last month due to weak fuel demand. https://www.mawazin.net/Details.aspx?jimare=253566

The Central Bank Supports The Liquidity Of The Real Estate Bank With An Amount Of 2 Trillion Dinars

Banks Economy News – Baghdad The Central Bank announced, on Monday, supporting the liquidity of the Real Estate Bank with an amount of 2 trillion dinars.

The Central Bank's media office said in a statement, seen by "Al-Eqtisad News", that "it supported the liquidity of the Real Estate Bank with an amount of 2 trillion dinars, to meet the requests of citizens applying to purchase units in residential complexes in all governorates, starting with ready-to-move-in units."

It added that "an amount of 300 billion dinars was allocated to meet citizens' requests to purchase floors outside the complexes, which had previously obtained the necessary approvals from the Real Estate Bank." 24 views 2024/08/19 - https://economy-news.net/content.php?id=46492

Al-Suwani Directs The Adoption Of Economic And Reform Foundations For Restructuring Public Companies

Local | 08/19/2024 Mawazine News – Baghdad Prime Minister Mohammed Shia Al-Suwani stressed, on Monday, the importance of adopting sound economic and reform foundations in restructuring public companies.

A statement from his media office received by Mawazine News stated that "Al-Sudani chaired the second meeting of the Supreme Committee for Restructuring Public Companies, to follow up on the efforts made in the field of restructuring some public companies, within the framework of the general administrative and economic reform that the government is pursuing in its program."

During the meeting, he pointed out "the seriousness of the government steps taken within the framework of targeting the reform of the work of public companies, and employing the public sector to contribute strongly to economic development, according to a mechanism that preserves public money and is based on sound economic foundations that support and activate the rest of the sectors."

The statement indicated that "the meeting approved the principles adopted by the subcommittee, and the process of classifying companies according to performance and specialization, in order to develop an accurate picture that takes into account the public interest."

The Prime Minister directed "the continuation of holding meetings of the Supreme Committee for Restructuring Public Companies, and at a more accelerated pace, in order to keep pace with aspects of economic reform in other sectors whose work is related to the tasks of these companies." https://www.mawazin.net/Details.aspx?jimare=253582

A Significant Decline In The Dollar Exchange Rate In Local Markets

Economy | 08/19/2024 Mawazine News – Baghdad The exchange rate of the dollar against the Iraqi dinar witnessed a noticeable decline this morning, Monday, in the markets of Baghdad and Erbil.

The dollar prices decreased with the opening of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, where it recorded 149,100 dinars for every 100 dollars, compared to yesterday, Sunday, which amounted to 149,500 dinars for every 100 dollars.

In the markets of Baghdad, selling prices decreased in exchange shops, where the selling price reached 150,000 dinars, and the purchase price 148,000 dinars for every 100 dollars. https://www.mawazin.net/Details.aspx?jimare=253575

For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/

Good Afternoon Dinar Recaps,

Source:CryptoBriefingandFederal Register

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IOTA Tangle Treasury Appoints Nicole O’Brien

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Speaking at the recentRare Evo 2024 event, Hoskinson announced that the newly introduced Lace Paper Wallet would be the object at the center of this challenge, with participants expected to breach its defense.

In addition to the possibility of the SPOs voting on governance actions,a Constitutional Committee would be online to grow membership above the seven of the interim committee.

From that point forward, the future of the Cardano blockchain will be in the hands of its community, along with its power to draft and ratify the Cardano Constitution.

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They’re Now Staging A Banking Collapse, Why Did Warren Buffett Sell $50B in Stocks??

Atlantis Report: 8-18-2024

Recently, there has been a lot of talk in the financial world about big stock sell-offs by well-known investors, including Warren Buffett.

Often called the "Oracle of Omaha" because of his exceptional investing skills, Buffett's actions in the stock market are closely followed and considered as signs of wider economic trends.

The news that Buffett's company, Berkshire Hathaway, sold off over $50 billion in stocks has caused a lot of discussion in the investment community, leading to speculation about the reasons behind these decisions and what they might mean for the global economy.

In the last several months, Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, has sold over $50 billion worth of stocks, including massive chunks of Bank of America and Apple shares. Warren Buffett's recent stock sales are significant not only because of the sheer volume but also because of the companies involved.

In May, Buffett sold $21 billion worth of Apple stock, and later, in December, he sold another $28.7 billion of other stocks. This follows a sale of $2.3 billion worth of Bank of America stock earlier in the year.

Combined, these sales surpass $50 billion, a staggering amount that has left many financial analysts and investors scratching their heads.

Buffett is not alone in his massive stock sell-off. Jamie Dimon, CEO of JP Morgan Chase, the largest bank in the world, sold $140 million worth of his own stock in the bank. This is notable as it is the first time in his 18-year tenure that he has sold such a significant portion of his holdings.

Other high-profile CEOs and founders, including Jeff Bezos, Elon Musk, Mark Zuckerberg, and members of the Walton family, have also been selling off large amounts of stock.

https://www.youtube.com/watch?v=Tz0OouNvdi0

TNT:

Tishwash: Government Advisor: “Petro Dinar” Requires Good Stock of Foreign Currencies and Gold

The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, explained today, Sunday, that "the adoption of the dinar in pricing oil, or what is called (petro dinar), requires, first of all, the availability of foreign reserve currencies or gold, as Russia did when it purchased Russian oil with gold-backed rubles, which caused problems that we will discuss later."

He added in press statements that "these foreign reserves must be available (as a necessary condition) and operate according to a high standard of efficiency that guarantees the stability of the exchange rate linked to oil (the petro dinar) in order to hedge against oil price fluctuations to ensure the stability of the exchange rate (the petro dinar) itself."

“Linking oil sales to the dinar on a fixed basis with oil prices instead of the foreign reserves base means linking the dinar to the oil asset cycle first, and that oil is sold according to global oil prices. If the exchange rate of the dinar (petrodinar) against the (petrodollar) is fixed, and oil prices fall, then the demand for the dinar for accounting purposes will certainly fall, and the dinar will be exchanged for oil in larger quantities and the demand for the (petrodinar) will be lower, and vice versa,” he added.

He pointed out that "any deviation between oil prices (petrodollar) and the exchange rate (petrodinar) according to international market data will be considered a cost that requires compensation by paying fewer dinars or collecting a higher dinar in the opposite case," indicating that "international reserve currencies are foreign currencies held by central banks and global financial institutions as part of their cash reserves. These currencies are used in international transactions and settling debts between countries, and are a standard for international payments and facilitating global trade." link

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Tishwash: Parliament falsifies the budget again.. Al-Mandlawi may lose his position!

MP Basem Khashan confirmed the possibility of terminating the membership of the acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, if the charges of tampering with the budget tables that were recently revealed by the Prime Minister’s Office are proven, noting that the parliament committed legal violations in amending the budget tables and they were on their way to being published and implemented had it not been for the government’s scrutiny, indicating that many MPs were subjected to deception in this file.

The Council of Ministers had spoken of an increase of 15 trillion dinars in the last tables, and it was not included in the agreement, discussions and voting, requesting a re-audit.

Khashan said, in an interview with the media figure Ahmed Mulla Talal:

The budget tables sent by the Council of Ministers were changed and their allocations were manipulated in the House of Representatives in an illegal manner.

The forged schedules would have been published and implemented had it not been for the Cabinet's scrutiny.

Most of the budget schedules have been changed, and the process has been carried out by ignoring a large number of parliamentarians.

The legal violations committed by the House of Representatives in amending the budget tables are countless and are considered a major crime.

The funding for the ration card basket has been increased to 5 trillion dinars for contracts that include major problems.

Manipulation and alteration operations can be legally classified under the crimes of alteration with the intent to defraud, regardless of the size of the amounts and figures that were manipulated.

The acting Speaker of the House of Representatives is responsible for tampering with the budget tables sent to the Cabinet.

The Federal Court can terminate Mohsen Al-Mandalawi’s membership, if the charges of manipulation are proven. link

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Tishwash: Iraq: Qusay Shafiq reveals major financial scandals and demands investigation

Public money scandals continue in Iraq

Dr. Qusay Shafiq, a well-known activist on social media, sparked widespread controversy after revealing huge financial scandals related to the management of public funds in Iraq. He accused the government and parliament of manipulating the financial budget tables, wondering about the fate of tens of billions of dollars that were not spent transparently.

Shafiq referred in a tweet onthe “X” websiteto what he described as the “theft of the century,” which the Integrity Commission estimated at $2.5 billion, equivalent to 4 trillion Iraqi dinars. However, he expressed his surprise at the large gap between this figure and the ongoing corruption in manipulating the budgets of recent years, as he revealed that the manipulation of the 2024 budget tables reached about $10 billion.

In a related context, Shafik touched on the Food Security Law, noting that about $20 billion has been allocated to it, but he wondered about the entities that monitored the disbursem*nt of this money, stressing that the Ministry of Finance and the Central Bank have not received any of this money so far. He added, “$10 billion was spent on infrastructure projects, but where did the remaining $10 billion go?”

Shafik discussed the budgets of previous years, including the budgets of 2014, 2020, 2022, and 2023, noting that no funds were disbursed to the governorates from the 2023 budget. This raised questions about how the authorities deal with public funds, especially in light of the Central Bank’s report, which indicated that the cash reserve had not increased despite the significant rise in oil prices due to regional conflicts.

Qusay Shafiqconcludedhis statements by calling for a comprehensive investigation into previous financial deals, stressing that the people’s money is a trust that must be preserved. These statements come at a time whenIraqis witnessing increasing pressure from citizens and international observers, who are demanding greater transparency and accountability in the management of public funds.

Shafiq's statements are a strong call for regulatory bodies and government authorities to take urgent action to curb corruption and clarify the fate of the allocated funds, as the Iraqi people await answers on how their financial wealth is managed. link

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Tishwash: Urgent In numbers.. The Central Bank buys dollars from the Ministry of Finance in an unprecedented move since 2003

An economic expert revealed an “unprecedented” figure for the value of the dollars purchased by the Central Bank of Iraq from the Ministry of Finance during the month of July.