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  "Ready for the New" - Mon. PM KTFA Thoughts, News w/ Frank26, DELTA 4/16/18

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PostSubject: "Ready for the New" - Mon. PM KTFA Thoughts, News w/ Frank26, DELTA 4/16/18   Tue Apr 17, 2018 8:37 am

KTFA

DELTA » April 16th, 2018


FYI .......SMALL NOTE IN CBI STATEMENT MEANS .....250,500 ...NOT THE NEW NOTE......YET..
FAMILY...........I GAVE FRANKIE THE WHOLE DETAILS ON THIS SUBJECT FOR MON CC

Frank26 » April 16th, 2018

AFTER A LONG TALK WITH WALKINGSTICK ...................... WE BELIEVE STRONGLY ................. THEY ARE INCLUDING THE 1 / 10 / 25 / ETC AS WELL ...................... THIS DOCUMENT IS ON ALL OF THEIR CURRENCY ............

TONIGHT'S MONDAY CC WILL BE AMAZING !!! !!! !!!


Walkingstick » April 16th, 2018

FOR EDUCATIONAL PURPOSES ONLY, NOT INCLUSIVE...AND OR DEFINING THE EXACT MANNER IN WHICH IRAQ WILL EMPLOY THEIR CURRENCY REFORM...

Turkmenistan ......New Money



FINANCE & DEVELOPMENT, December 2013, Vol. 50, No. 4

Introducing a new currency is a complex process—one that Turkmenistan completed successfully

A popular destination for visitors to the IMF’s Washington, D.C., headquarters has long been a 40-foot-long display of each member country’s currency.

Most countries have their own currency, which is an important part of their national identity, though some belong to a monetary union and share a common currency with the union’s members; others use that of another, often larger, country.

On occasion, a country must introduce a new currency. Turkmenistan, the former Soviet republic in central Asia, decided in 2008 to undertake a currency reform.

A major gap between the official exchange rate and the informal or market rate meant that Turkmenistan’s price system had become complex and inefficient.

This, in turn, created complexities in accounting and statistical reporting. So the government decided to introduce a new currency before launching market-oriented reforms. Currency reform was regarded as the foundation for further strengthening the macroeconomic framework, particularly monetary transmission: the more the population relies on the local currency rather than U.S. dollars, the more control the government has over macroeconomic policy.

The total and orderly overhaul of Turkmenistan’s currency system in 2008–09 in many respects serves as a model for other countries.

Big decisions

The introduction of a new currency is not undertaken lightly. The motivation could be hyperinflation, exchange rate collapse, massive counterfeiting of the existing currency, or even war. Or it could be an intentional change—for example joining a monetary union, such as the European Monetary Union.

Changing a national currency is a highly political decision. Sometimes the existing currency does not meet the economy’s needs.

The typical economy in need of currency reform is cash based and highly dollarized, with multiple currencies circulating at the same time.

The single most important price in any economy is the price of its currency vis-à-vis other currencies. Countries that assign non-market-based exchange rates for different goods or services—or for imports versus exports—tend to have significant distortions in their economy. Over time, this usually leads to slower growth overall. Eventually, the general public, the business community, and politicians may start pressing for currency reform and the introduction of a new currency.

Currency reforms are typically complex and risky: global experience confirms that a successful outcome is never guaranteed. The main ingredient in the successful introduction of a new currency is a strong commitment by the central bank together with the government to take the steps needed to ensure that the new currency is perceived as stable by companies, the general public, and the international community.

Introduction of a new currency comprises four phases. First, the necessary preconditions—sound macroeconomic policies and strong financial sector legislation—should ideally be in place or under way.

Next, careful preparation is required, setting up the policies and processes behind the reform and drafting a detailed budget for the entire currency reform (including the cost of printing and minting the new cash currency). Then comes production of the new currency, and finally the most challenging phase: implementation.

Setting the stage

A government facing currency reform often has limited ability to pursue macroeconomic policy. If the country is suffering from hyperinflation, its macroeconomic policies to date by definition were unsound. In some cases, a currency reform must be implemented despite a difficult macroeconomic situation. Currency reform alone is unlikely to resolve such problems and will yield its benefits only if underpinned by fiscal and monetary action. But psychologically, introducing a new currency can itself facilitate the stabilization of an economy. It is sometimes combined with exchange rate unification—to eliminate the complications of both an official exchange rate and unofficial market rate.

Turkmenistan was able to achieve favorable macroeconomic conditions before it implemented exchange rate unification and currency redenomination. During 2006–07, the economy was growing more than 11 percent a year, inflation was in single digits, and fiscal and external balances were strong.

A currency reform must be supported by financial sector legislation. Existing legislation—including the law establishing the central bank and regulation of banks and other financial institutions—should be reviewed to ensure consistency with international best practices. A law and regulations on the specific currency reform are also necessary, and other legislation—for example, governing accounting and financial reporting—may require updating. This work can be supported by technical advice from the IMF and other countries’ central banks. Such technical assistance includes initial general guidance as well as detailed recommendations based on currency reforms in other countries.

In a crisis situation, the government has little, if any, control over the circulation of different currencies. For that reason, the economy tends to be highly dollarized—that is, many transactions are made with a foreign currency, often the U.S. dollar.

Moving forward, the government should favor a currency regime that supports open trade and free markets—one that allows international competition and is not overly protectionist.
The central bank is the arm of the state responsible for introducing a new currency, but it is not necessarily in a position to do so.

It may lack staff with relevant experience, or sufficient branches throughout the country from which to operate, or even the funds necessary to finance a reform. Strengthening the institutional capacity of the central bank and ensuring it has the resources needed are critical preconditions for currency reform.

Private banks also play a key role in currency reform. But the banking sector may be weak or, in some cases, virtually nonexistent. In some parts of the world, informal funds transfer systems such as hawala and hundi are more vibrant or have nationwide networks that surpass those of banks. In such cases, collaboration between the central bank and these payment system operators is critical to the success of the reform.

The central bank must assess the extent to which counterfeit banknotes circulate. Together with the ministry of finance and the commercial banks, it should formulate a strategy to avoid an increase in counterfeit currency during the critical implementation stages of the currency reform.

The central bank should prepare a budget for the entire currency reform early on and revise it as necessary over time. The IMF can offer technical advice on preparing such a budget.

Introducing a new national currency is a highly complex project, which requires a well-functioning accounting system. Throughout the various stages, tested systems must be in place for independent auditors to safeguard the integrity of the currency reform, by ensuring correct reporting and accounting of the currency exchange. Failure in this area is not only costly but also potentially devastating to the currency reform’s reputation.

Important as all these preparations are, the success of a currency reform depends just as much on a successful public education campaign. The central bank needs to coordinate this campaign with other agencies, financial sector representatives, merchants, and the general public. A delicate balance must be struck between providing sufficient public information and the need for confidentiality to avoid releasing clues to counterfeiters that could be used to undermine the integrity of the new currency.

The information campaign should encourage people to deposit their cash currency in accounts at banks. The campaign must make it clear that once the currency reform is initiated, account holders can withdraw their money in the form of new banknotes.

A second important point for the public education campaign is timely information on the stages of the currency reform to discourage a run on banks with temporary liquidity problems.

In Turkmenistan, the central bank conducted a proactive public communications strategy that began early in the currency reform.

The terms of the redenomination were carefully defined and announced in advance. An awareness campaign was carried out throughout the country. Booklets, illustrating the new banknotes to be distributed, were published in national and local newspapers along with explanatory articles. In addition, pocket-size cards comparing the denomination of old and new manat were distributed to the public. And the Central Bank of Turkmenistan set up a phone hotline to answer questions from businesses and the public.

Lights, camera, action

A new currency’s name is a psychologically important decision for the government. One option is to emphasize continuity with the old currency by retaining the old name or adding “new” to it. Alternatively, the government may choose to underscore a break with the past by giving a completely new name to the currency to mark the start of a new monetary era.

In Turkmenistan, the government decided to keep the name “manat” for the redenominated currency. However, in line with an international convention among countries and central banks, the International Standards Organization changed the three-digit ISO 4217 code from TMM for the pre-2007 manat to TMT for the new Turkmen manat.

The banknote printer and the minter of coins should be selected competitively and in the international market. Even if domestic producers are available, they should be required to compete for the contract. It is not uncommon, by the way, for various banknote denominations to be produced by different international firms.

Turkmenistan’s banknotes were printed by the British firm De La Rue, and the coins were minted by another U.K. company, the Royal Mint. De La Rue is now testing production of the banknotes from paper produced with local raw materials—Turkmen cotton, renowned since ancient times for its high quality.

Decisions on the artistic design of banknotes are almost always complex and time consuming. The design must be integrated with necessary security features: the higher the denomination, the more advanced security features are required. These often include watermarks, security threads, see-through registers, and hidden numerals. Decisions also need to be made on the size of banknotes—a uniform size as for U.S. banknotes or a different size for each denomination as for euro banknotes. Finally, the color scheme should be determined—again, uniform colors, like U.S. banknotes, or clearly different colors as for most other banknotes.

Hyperinflation and exchange rate collapse slash the value of a national currency, forcing the issuance of banknotes in ever higher denominations. In Yugoslavia in 1993, a banknote reached 500 billion dinars, and Zimbabwe’s highest banknote issued was 100,000 trillion Zimbabwe dollars in 2008. In such situations, a redenomination of the currency is not only appropriate but also necessary. Redenominating a currency means administratively changing its face value. In itself, a redenomination makes no one richer or poorer. Technically most redenominations of currencies are undertaken by using factors of 10, 100, or 1,000 and simply moving the decimal point a certain number of steps to the left to establish a new value. Such a change is simple to explain to the general public and easy for companies to implement. It also represents a clear way of monitoring whether price gouging is taking place.

The first step in the Turkmen currency reform was to unify the exchange rate. In the past, because of a shortage of foreign exchange, there had been a dual exchange rate system made up of an official rate pegged at 5,200 manat per U.S. dollar and an informal parallel market rate of about 23,000 manat per U.S. dollar.

Later, the government devalued the official rate to 6,250 manat per dollar and introduced a commercial rate of 20,000 manat per dollar at which banks could trade freely with the public. The two markets were successfully unified on May 1, 2008—at the rate of 14,250 manat per dollar, a level consistent with the country’s strong external position.

Currency exchanges were located wherever customers might want to exchange dollars for manat, offering easy and official access at close to the informal rate, thus killing off demand for the informal market.

At the beginning of June 2008, the Turkmen government issued new foreign exchange regulations under which the Central Bank of Turkmenistan began providing banks and authorized currency changers ready access to foreign exchange, which in turn became available to the market-oriented private sector. Previously the central bank had been propping up the official, unrealistically low, exchange rate by restricting access to dollars. The provision of sufficient foreign exchange to an extensive network of exchange bureaus across the country eliminated the black market rate.

While unifying the exchange rate is important, the authorities must also modernize the national currency for a currency reform to be comprehensive. In Turkmenistan, the modernization entailed issuing a new family of banknotes that were smaller in size than the unnecessarily large old banknotes.

It also included the reintroduction of coins. The Turkmen economy had been cash oriented for a long time, and the U.S. dollar was extremely popular. The weakness of the manat to the dollar, which required thousands of manat in an exchange conversion, was deemed unacceptable. One way to correct this was to redenominate the national currency.

After the successful exchange rate unification, the authorities moved forward with the introduction of the new manat, revaluing the currency by a factor of 1 to 5,000. The pegged exchange rate of 14,250 manat per dollar resulted in an exchange rate of 2.85 new Turkmen manat to the dollar.

A presidential decree issued August 27, 2008, announced the introduction of the redenominated manat on January 1, 2009.

Even without redenomination, the denomination structure of a new cash currency is worth considering. Usually, lower denominations are eliminated and higher denominations added. There is generally a shift into coins from denominations that were previously issued in banknotes. Cultural and sociological preferences must be considered. For example, in some countries, such as Somalia and South Sudan, coins are not popular. In other countries, such as Germany, people want access to very high-denomination banknotes. A rule of thumb often applied in developing economies is to set the highest denomination of the national currency no lower than the equivalent of 20 dollars.

Money in hand

Turkmenistan issued six new banknote denominations on January 1, 2009: 1, 5, 10, 20, 50, and 100 new manat. This was a major expansion of the upper denominations—the previously highest denomination, 10,000 old manat, now corresponded to a mere 2 new manat. The six newly issued banknotes each differed in size and were all shorter and narrower than previous banknotes. The design of the front of the banknotes presented prominent historic Turkmen personalities. The reverse side, as in the past, portrayed new key buildings and monuments of modern Ashgabat, the Turkmen capital.

In parallel, new coins were issued in the following denominations: 1, 2, 5, 10, 20, and 50 tenge; and the following year, two more coins were circulated with 1 manat and 2 manat denominations. This represented a de facto reintroduction of coins after high inflation and intense exchange rate pressure had rendered the previously issued coins valueless.

Once the design and denominations of a new currency are selected, the central bank must decide how much to produce, based on research on the demand for money in general and on various cash currency denominations in particular. Data on past orders of banknotes and coins should give reasonable estimates, which must be assessed in light of recent changes in public demand for the currency compared with other currencies. Technical advice is available from international banknote printing firms such as De La Rue and Giesecke &Devrient, and for coin denominations from mints such as the Royal Mint.

The next phase of currency reform is the conversion from old cash currency to new. The authorities must decide—at first privately—when the currency exchange will begin, when it will end, and whether or not to cap, in absolute terms, the amount to be exchanged.

Then, decisions on the announcement of and publicity for the currency exchange must be made. Other essential decisions include the conversion rate and how financial assets, resident/nonresident accounts, and existing currency contracts will be treated in the currency exchange.

In addition to the guidance of the central bank and the ministry of finance, the views of the ministries of justice, commerce, and defense; the police force; the chamber of commerce; bank representatives and representatives of the informal payment system (if it plays an important role in the country); the general public; nongovernmental organizations; and key media outlets should be considered.

The key stakeholders, under the leadership of the central bank, should develop a detailed plan for distribution of the new currency. They must identify exchange points (places where the public can exchange the old money for new and where cash currency can be stored temporarily); establish facilities for more permanent storage of currency, such as vaults and strongboxes; and address various logistic issues, including exchange point staffing.

In its plan for the currency reform, the central bank must decide how to handle the soon obsolete cash currency. Old banknotes that have been exchanged for new currency should be immediately invalidated via ink markings or holes drilled in the currency.

After a second counting, the then invalidated banknotes should be destroyed by shredding or burning. Routines should also be established for the collection and transportation of old coins, which may be sold by the central bank for scrap metal and ultimately melted down.

In line with common international practices, the Turkmen central bank allowed the two sets of banknotes to be circulated during 2009. By 2010, all banks were expected to exchange the old currency for new manat. And after that, the old currency was demonetized and retained only numismatic value.

The IMF’s currency display was recently dismantled to allow for repairs to the building. If and when the display is restored and updated, there will be several new currencies for visitors to view, including the new Turkmen manat.

http://www.imf.org/external/pubs/ft/fandd/2013/12/lonnberg.htm

MilitiaMan » April 16th, 2018

Well well well, Sir, I get the picture and "yep" it sure looks like we are in this stage of the conversion process. Not that it is exact, but the reference is very telling if in fact Iraq uses the model. imo Thank you!~ MM

Frank26 » April 16th, 2018

YUUUUUUUUUUUUUUUUUP !!!

MilitiaMan » April 16th, 2018

They are doing spring cleaning.. Cleaning up and out the old, getting ready for the new..

Samson » April 16th, 2018

The Central determines the terms of the non-negotiable banknotes


16th April, 2018

On Monday, the Central Bank of Iraq (CBE) set the terms of non-negotiable banknotes that are repaid after being deposited in the bank.

The Central Bank said in a statement read by "Economy News" that "the banknotes are not valid for trading if applicable one of the descriptions and compensates the holder of their full value as soon as they are submitted to government and private banks and subsidiaries and deposited in the Central Bank and the corresponding amounts in their accounts."

The bank said that "one of the conditions of banknotes not valid for trading is if the banknotes are smuggled or damaged, although not torn and not lose part of it, in addition to if the paper was damaged as a result of exposure to water," indicating that "the banknote will be invalid in the case of The banknote consists of two different parts.

"The other condition is that the banknote is affixed to a transparent tape or more along its length or width, or if the banknote was cut in more than one angle or loaned," the central bank said, noting that "the other conditions are if it contains seals or Writings do not affect the appearance of the outside, or if the bank lost 50% of its area.

The bank noted that "other conditions also if the monetary paper stuck strange materials and affected the features such as inks, dyes, glues, fats and oils, in addition to if the banknote perforated puncture or more and randomly." LINK

Walkingstick » April 16th, 2018

F... per con : coupled, with... the other article, the reasoning ....All notes...........

Frank26 » April 16th, 2018

I SO AGREE SIR ................ THIS CBI DOCUMENT ENCOMPASSES ALL THE DINAR NOTE ... THE 3 000 NOTES LARGE NOTES AND THE LOWER DENOMS SMALL NOTES !!!!!!!!!!!!!!!!!

MilitiaMan » April 16th, 2018

Notice the theme of late is about instructions.. As in this is how you pay people with allocations of %'s and we/they (CBI) showed everyone how to collect old money and replace with new notes that will be circulating, the new system of electronic payments, etc.. Oh the new deal between us (Bagdad) and them (Erbil) in regard to the Oil and Gas... ~ MM

Walkingstick » April 16th, 2018

2018 SPRING MEETINGS THE INTERNATIONAL MONETARY FUND AND THE WORLD BANK


The 2018 Spring Meetings will take place in Washington, D.C.

the week of April 16-22. Registration is now OPEN.

The Spring Meetings of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) bring together central bankers, ministers of finance and development, parliamentarians, private sector executives, representatives from civil society organizations and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness. Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world's financial system. This year's events will take place in Washington, DC, April 16-22, 2018.

http://www.imf.org/external/spring/2018/index.htm?utm_source=Expandable_Banner&utm_medium=top

Samson » April 16th, 2018

The Association of Iraqi Private Banks joins a course on international standards and FATF recommendations


16th April, 2018

The Association of Iraqi Private Banks held a training course on "International Standards and FATF Recommendations" at its headquarters in Baghdad, with the participation of 39 trainees from private banks, the central bank and financial transfer companies.

Mr. Ali Tarek, Executive Director of the Association of Iraqi Private Banks, said at the opening of the training course, which was attended by "Economy News", that "in view of the size of banks and their activities and their aspiration to build strong banking institutions, the Association set up today the session" International Standards and Recommendations for Financial Action AFTF " Of amendments and with the participation of the Central Bank, and for four days. "

"The session will include explaining the international standards of the Financial Action Group" AFTF "and how to deal with them and their application with Iraqi banks, which will reflect positively on the global financial classification of Iraq."

"Participants in the course will receive the 40 recommendations guide in Arabic to be a reference to the work. LINK

Doodlebug » April 16th, 2018

They just just announced on FOX Business that at 3pm on Thursday, "Countdown to the Bell", Liz is live from D.C. will be talking to Treasury Secretary Steven Mnuchin and IMF Chief Christine Lagarde....talking "Looming Sanctions, the Global Economy and more"....

Samson » April 16th, 2018

Oil prices fall to $ 71


14:04 - 16/04/2018

Oil prices fell during Monday's trading to $ 71 a barrel after rising US crude oil activity.

Brent crude futures fell 1.5% to $ 71.46 a barrel, while NYMEX crude futures fell $ 66.44 a barrel, down 1.4%.

US crude was up about 8.5% last week in support of geopolitical tensions.

Separately, Bakers Hughes data showed on Friday that crude drilling platforms rose 7 platforms to 815 in the week ending April 13.

http://www.almaalomah.com/2018/04/16/301224/

Parliamentary Finance Reveals Loss of $ 328 Billion in 15 Years

11:16 - 16/04/2018

A member of the Finance Committee parliamentary Rahim Darraji, Monday, the waste of more than 328 billion dollars over the past 15 years as a result of financial and administrative corruption.

"Successive Iraqi governments after 2003 and until today have all failed to fight corruption because they are part of the corruption mechanism," Darraji said in an interview with Asharq Al-Awsat newspaper.

He added that "talking about corruption often takes a dimension of media only without achieving serious steps in this area," stressing that "waste more than 328 billion dollars over the past fifteen years, as well as decades of fake thousands of nothing has been achieved."

Prime Minister Haider al-Abadi called on Sunday for a revolution to protect public money and achieve social justice, referring to the referral of many accused of corruption to justice and integrity. LINK

Interior reveals 574 cases of administrative and financial corruption this year

16th April, 2018

The Inspectorate of the Ministry of Interior, today Monday, that its offices in all governorates except Baghdad was able during the first semester of the current year 2018 to detect 574 cases of administrative and financial corruption in the departments and joints of the ministry.

According to a report issued by the Directorate of Inspections of the provinces in the Interior Inspectorate received "Al-Gharab Press" a copy of it, "The offices managed during the first three months of the year 2018 from the discovery of 514 cases of administrative corruption and 60 cases of financial corruption."

He added that "the results of cases of corruption discovered was the proceeds of the inspection committees in the Directorate was able to detect 16 cases of administrative corruption and 3 cases of financial corruption, while the Office of the inspection of the province of Basra was able to detect 51 cases of administrative corruption and 8 cases of financial corruption."

He added that "the inspection office in the province of Maysan managed to detect 29 cases of administrative corruption, and the inspection office in the province of Dhi Qar was able to discover 34 cases of administrative corruption and two cases of financial corruption."

"The Muthanna Governorate Inspection Office has been able to detect 26 cases of administrative corruption, the Diwaniyah governorate inspection office has been able to detect 30 cases of administrative corruption and two cases of financial corruption, to the inspection office in the province of Najaf managed to detect 61 cases of administrative corruption and 3 cases of financial corruption" .

"The Karbala governorate inspection office has been able to detect 47 cases of administrative corruption and 16 cases of financial corruption, the inspection office in the province of Babylon has been able to detect 55 cases of administrative corruption and 4 cases of financial corruption, the inspection office in the province of Wasit managed to discover 32 cases of administrative corruption and my case Financial corruption, and the inspection office in Anbar province managed to detect 25 cases of administrative corruption and 8 cases of financial corruption.

He explained that "the Office of the inspection of the province of Salah al-Din was able to detect 30 cases of administrative corruption and 5 cases of financial corruption, the inspection office in the province of Diyala was able to detect 30 cases of administrative corruption, the inspection office in the province of Kirkuk managed to detect 27 cases of administrative corruption and 5 cases of financial corruption, Nineveh inspection office was able to detect 10 cases of administrative corruption, the inspection office of the province of Kurdistan region managed to detect 11 cases of administrative corruption and cases of financial corruption.

The report pointed out that "the indicators of administrative corruption discovered were: 58 cases of functional exploitation, 26 cases of abuse of power, 11 cases of fraud, 416 cases of negligence, and 3 cases of blackmail."

He pointed out that "indicators of financial corruption discovered 31 cases of waste of public money, and 16 cases of embezzlement, and 8 cases of concealment of materials, and 4 cases of theft, and the case of a bribe one." LINK

Security: Baghdad announces a new arrest of a fleeing Iraqi official in Jordan

16th April, 2018

The Integrity Commission announced that the Jordanian authorities arrested "fugitive convict" Zia Habib Faris al-Khayyun, former general manager of Rafidain Bank.

A statement issued by the Authority stated that it had sent to the Jordanian judicial authorities four files for the recovery of the missing persons and that it was required for the Iraqi judiciary under the provisions of articles 340, 331 and 341 of the Iraqi Penal Code. Three decisions of the courts of misdemeanors and offenses.

Baghdad announced yesterday the recall of former Secretary General of the Ministry of Defense Ziad Tariq Qattan, and accepted by former Minister of Trade Falah al-Sudani. LINK

Health inspector reveals theft of "$ 300 million" procurement contracts in the ministry

18:45 - 15/04/2018

Ministry of Health Inspector General Ahmed Rahim al-Saadi revealed on Sunday the largest files of corruption in the Ministry of Health for import contracts of aid and dialysis devices at 300 million dollars, indicating that he was threatened with death and kidnapping of his family.

Al-Saadi said that "his office, through the audit and follow-up revealed corruption files in the four largest contracts for the Ministry of Health and the existence of price differences on the real price estimated at 300 million dollars."

"Among these files is a contract for the importation of Toyota cars with a difference of 12 million dollars," Saadi said, adding that the fixed contract is a Japanese-made Toyota-type wheelbase and imported imported Malaysian-made wheels with a lower Toyota mark.

He said that "after addressing the company Tiota confirmed not to sell any ambulances to the Iraqi Ministry of Health and provided Iraq with a letter addressed to the official show that it does not relate to Malaysian cars."

He explained that "the second contract for heart networks found differences in import prices for the real price of $ 35 million, while the price difference on real prices contract dialysis (III) difference 200 million dollars."

He added that "the inspector's office found differences in prices in the fourth contract of the Turkish hospital in Maysan province about 53 million dollars," noting that the contracts signed by the Chairman of the Committee on Central Contracts and Minister of Health Adela Hamoud.

But Saadi said that he was "under pressure and threats by the director of the company Camberg beneficiary of the contract of the death of Dialza and the abduction of children and the destruction of his office," pointing out that the person concerned was walking in the Ministry of Health accompanied by the protection of the Minister of personal.

The inspector general said that "after the discovery of the contracts, the hand of all the assistants and department managers and employees in his office who contributed to the disclosure of these contracts and their referral to the investigation by the Minister was withdrawn," stressing that "some contracts are still valid and no one is held accountable."

In recent days, accusations have been exchanged between Health Minister Adelah Hammoud and her inspector Ahmed al-Saadi after the minister accused the health inspector in cooperation with the deputy questioned by Awad al-Awadi in the House of Representatives.

http://www.almaalomah.com/2018/04/15/301029/

Integrity Reveals the total court verdicts against Ziad al-Qattan and the money claimed

2018/4/16 15:07

The Integrity Commission announced its continuing efforts to recover convicted fugitives outside Iraq successfully to recover the fugitive convict Ziad Tariq al-Qattan, former Secretary General of the Ministry of Defense, revealing the total sentences against the convicted Ziad Qattan and the funds claimed to be returned.

The Department of Recovery in the body in a press statement received by the agency {Euphrates News} copy of it today that was "deposited in a police station in the capital Baghdad," expressing regret "of some statements on the subject, which overlooked the efforts of the Integrity Commission and its efforts to organize files recovery Who had spent years of work, as he played a vital role in the recovery of the convict, who, over the previous years, had exploited his Polish nationality, which had protected him from prosecution on her territory, and which the Commission had not been able to recover from; Dah carried out. "

The court ordered dozens of files to be sent to the Jordanian judicial authority, two days after Jordanian authorities arrested him on January 15, Of 2017, "noting that" the total judicial judgments against him amounted to 650 years imprisonment, and the funds claimed to return nearly $ 800 million "

The Integrity Commission announced on 21 September that the Court of Cassation in the Hashemite Kingdom of Jordan had approved the decision to extradite fugitive convict Ziad Tariq al-Qattan, the Secretary-General and Director-General of the Directorate of Armaments and Equipment of the Ministry of Defense, to Iraq after, in cooperation with the concerned authorities, And sent them to the Jordanian side, stating that it had sent the international bulletin and arrest warrants issued under which it had been arrested by the Jordanian authorities in its territory.

During the period of his detention in Jordan, the Commission, through direct coordination with the Embassy of the Republic of Iraq in Amman, held several meetings with the judicial authorities in Jordan and the Presidency of the Public Prosecution in order to persuade the Jordanian side to extradite the convict to Iraq in accordance with the law and the provisions of the International Convention against Corruption, The embassy has made great efforts to meet with Jordanian officials at the highest levels to convince them to extradite the convicted person.

The agency noted that "the efforts of the supporting authorities to complete the procedures they had started several years ago, including the presidency of the prosecution and the Ministry of Foreign Affairs and the Directorate of Arab and international police in the Ministry of Interior and the Embassy of the Republic of Iraq in Amman and the Legal Department of the Ministry of Justice and the rest of the other parties. LINK
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PostSubject: Re: "Ready for the New" - Mon. PM KTFA Thoughts, News w/ Frank26, DELTA 4/16/18   Tue Apr 17, 2018 9:07 pm



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