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 Sun. AM KTFA News Articles 4/29/18 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Sun. AM KTFA News Articles 4/29/18

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 Sun. AM KTFA News Articles 4/29/18 Empty Sun. AM KTFA News Articles 4/29/18

Post by Ssmith on Mon Apr 30, 2018 6:50 am


Samson » April 29th, 2018

Visa Card : The Iraqi market is promising and has a good future

29th April, 2018

Visa International announced that the Iraqi Iraqi market is promising and has a good future, stressing that the banking sector is committed to the strategy set by the Central Bank

"Visa Card considers the Iraqi market to be promising and the banking sector is committed to the strategy led by the central bank in addition to having several competencies," said Tarek Husseini, regional director of Visa International, To deal professionally with mistakes to avoid wasting more time to promote the reality. "

He pointed out that the company signed a contract with the Central Bank to activate its strategy on financial coverage and expand the base of electronic payments in the Iraqi market and provide the necessary services for that LINK

Smart Card ... financial inclusion achieves economic benefit

29th April, 2018

In conjunction with the week of financial inclusion, the company organized a workshop on the dimensions of financial inclusion and importance in economic life, and participated a large number of employees of the company in this workshop, which was attended by international experts, most notably d. Sadiq Rashid Al Shammari

An official source at the company briefed participants on the stages of the economic life of the family and the national economy by relying on financial inclusion, and presented successful global experiences in this important chapter and how some economies have been able to achieve important successes through financial inclusion.

The source pointed out that the participants interacted with this step, where there was consensus on the importance of working towards spreading awareness among the community about financial inclusion and its role in achieving development for all segments of society and in all cities and towns.

He pointed out that the development of payment systems in Iraq has become an important necessity and this is continuing to be adopted in the coming period, as everyone knows that the requirements of the development of economic activity requires the adoption of the best global systems and harmony with them.

He pointed out that Keycard understands that financial inclusion will impose itself when banking culture is an important part of an individual's life. In order to support this step, we need to provide infrastructure for different sectors to facilitate easy and easy access to the city or village. LINK

Don961 » April 29th, 2018

Estimated at four billion dollars .. Obstacles to prevent the return of Iraq's frozen funds abroad

2018/4/29 12:07:49 PM

Despite the issuance of an international resolution to lift Iraq on the seventh item imposed on him in the nineties of the last century, which allows Iraq to free the disposal of funds frozen abroad, estimated at about four billion dollars, but there are several obstacles to restore them according to specialists of the financial and economic.

The specialists called on the Iraqi government to move seriously to restore Iraqi money, especially as Iraq desperately needs the money in light of the challenges of war and reconstruction and debt resulting from Iraq.

Iraq still suffers from a major economic crisis despite the relatively high oil prices because of the absence of a clear economic vision through which economic resources are used to boost financial revenues.

According to international reports, Iraq has funds in Turkish banks up to 38 million dollars, is being negotiated with Ankara at this time, as the Government of Iraq formed a committee to negotiate with the Turkish Embassy in Baghdad in this regard, followed by negotiations Secretary General of the Council of Ministers Mahdi Alalak with a delegation of Turkey Is currently visiting Iraq on Turkish grants and loans to Iraq as part of the reconstruction.

"The report also opened the file of funds by the neighboring countries at the moment, reflects the government's keenness to accelerate the deadline for the repayment of the debts caused by Iraq in light of the financial crisis that accompanied the collapse of oil prices (2014 - 2016), while preliminary estimates indicate the presence of about 3 Billions of dollars in many countries in the form of deposits and real estate and property is being studied the possibility of returning to Iraq, to ​​contribute to reducing the debt limit on Iraq.

In the same context, the Parliamentary Finance Committee expressed its many attempts by forming committees to restore frozen funds, but has not yet received any concrete results on the subject.

"Most of the Iraqi money that is abroad is not cash, but in the form of property and farms scattered across the world," says Mahasen Hamdoun, a member of the Finance Committee.

"If you sell these properties because they go to destinations illegally The country did not serve, she said.

She added that "the budget of 2018 included the sale of state property abroad, but many MPs objected to this article for fear of being exploited by some political parties," noting that "any king of the Iraqi state abroad is capital of Iraq in the state where the king."

"There are farms in Iraq in different countries, but unfortunately there is negligence and lack of follow-up by the Iraqi government can be invested and exploitation can bring in very large revenues."

The funds belonging to the former regime may belong to people who need an international resolution to restore them and the Iraqi government can not bring the money because it may be private property.

The member of the Committee on Parliamentary Integrity, MP Taha defense, the difficulty of restoring Iraqi funds frozen in international banks not to know the sources of funds and real estate and return, and some of them illegally smuggled in the time of the former regime names and personalities are not known so is not easy to retrieve.

The defense adds that "there is information that there is a property of the Ministry of Education in Spain with an area of ​​17 thousand meters and the price of not less than 250 million dollars, as well as a drug belonging to the departments and state institutions, including France, Britain, Egypt and other countries," calling for "to move Iraqi diplomacy to negotiate With those countries to end this file, "noting that" some of the property of the former regime was retrieved abroad "yacht" which was returned to the port of Umm Qasr, but the problem is not in the restoration, but not to invest these properties in a way that serves the country.

Also confirmed by a member of the Committee on Foreign Relations MP Samira al-Musawi, the difficulty of ending the file of funds frozen abroad, indicating that he needs international efforts and cooperation with the Supreme Commission for Integrity and organizations on how to restore these funds.

Moussawi pointed out that "the Iraqi Council of Representatives seeks to communicate with the Ministries of Finance and Foreign Affairs, to restore funds, whether in European banks or others, indicating that" the sources of funds are divided into the pre-2003, which belong to the former regime and after 2003 to some politicians wanted. "

As for the economic expert Hammam al-Shamma, he mentioned in his speech to (One News) that "the United Nations when it issued a decision to lift Iraq from Chapter VII, Iraq has the right to recover all its frozen assets in international banks or real estate reserved."

Al-Shamaa added that "the Iraqi funds abroad, which do not exceed one billion dollars, are very few because they are in dollars, which was previously high value but now its value has become few because of the fluctuations of the dollar in the market," pointing out that the Iraqi properties located abroad if the Iraqi state The Iraqi government can approach these countries or international organizations or Interpol to restore them, whether they belong to private or belonging to certain persons can not be restored by the government. "

The Iraqi Foreign Ministry announced earlier its departure from the seventh item of the Charter of the United Nations, after the Security Council issued a decision on 9 December 2017.

Iraqi Foreign Ministry spokesman Ahmad Mahjoub said in a statement that after a series of diplomatic successes achieved by the Iraqi Foreign Ministry, its efforts culminated in the issuance of the Security Council decision to leave Iraq from Chapter VII.

Security Council resolution 2390 was adopted, stressing that the parties (Iraq and the United Nations) had implemented the measures imposed under Chapter VII under resolutions 1958 (2010) and 2335 (2016). link

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