“Tidbits From TNT” Sunday Morning 10-1-2023

TNT

Tishwash:  The Central Bank intends to adopt four currencies instead of the dollar for external transfer

The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Saturday, that he is working to adopt the UAE dirham, the Turkish lira, the Indian rupee, and the euro as part of the process of facilitating external transfers.

Al-Alaq said in a statement to the official agency, “There are discussions to regulate the import process with Iran in a way that does not expose Iraq to any problems by violating the sanctions,” noting that “the Central Bank will reach a clear formula in organizing the trade process with Iran.”

He added, “There is work to adopt the UAE dirham, the Turkish lira, the Indian rupee, and the euro as part of the process of facilitating external transfer.”

Al-Alaq continued, “The trade balance with India amounts to $3 billion,” pointing out that “the Central Bank has high numbers for imports from the Emirates and Turkey.”  link

Tishwash:  more corruption cleaned up

Integrity: A quarter of a billion dinars were seized, deposited by the director of the Industrial Bank branch at the home of his “wife’s friend.”

The Investigation Department of the Federal Integrity Commission revealed today, Saturday, the overthrow of the director of the Industrial Bank, the insurance company branch, and the treasurer of the bank. Charged with committing the crime of embezzlement.

The Investigation Department stated in a statement, a copy of which was received by {Al-Furat News}, that: “The Commission’s Investigation Directorate in Baghdad has formed a work team to audit, follow up and investigate information received by the Directorate indicating that an organized embezzlement operation had occurred in the Industrial Bank – Insurance Company Branch.”

She added, “After conducting audit and investigation operations, the judge of the Rusafa Investigation Court, which specializes in cases of integrity, money laundering, and economic crime, issued an arrest and search warrant against the accused, the director of the Industrial Bank – the insurance company branch, and the cashier of the bank,” stressing that “a team from the directorate quickly moved to… The Industrial Bank branch in the Sinak area, and the defendants were overthrown while they were inside the bank and the arrest warrant issued against them was executed.”

The department explained, “The team, led by the first accused (the bank manager), went to his home, and after conducting the inspection, they seized an amount of money in Iraqi dinars and US dollars, an iPhone 14 Pro Max mobile device, and an unlicensed Kalashnikov rifle, and after inquiring from the accused’s family.” They confirmed that he had secured a sum of money at the home of his wife’s friend, where they moved to her home and seized a bag containing approximately a quarter of a billion dinars.”

She added, “The conduct of the initial investigations with the accused and taking their statements led the team to move to the residence of the second accused (the bank cashier) and to guide him, as after conducting a proper inspection of his home, a contract for the purchase and external sale of a plot of land with an area of (100 square meters) was seized in the name of his wife.” Until the accused bought it with the embezzled money.”

The department continued, “The operation also resulted in the seizure of a Visa card issued by an exchange company that the bank’s cashier used to transfer embezzled amounts of money to the Emirate of Dubai, in addition to the seizure of a copy of the articles of incorporation of a fictitious company belonging to the accused that was established in the UAE for trade.” Clothes, fabrics, and a special mobile device (iPhone 11), in addition to a copy of bonds issued by the Industrial Bank – Baghdad, with the original chip numbering (9).”

She noted “the preparation of a formal seizure report on the operation, which was carried out, in accordance with the provisions of Article (315/2) of the Penal Code and in accordance with the Articles of Subscription (47, 48, and 49) thereof, and presenting it before the attention of the competent investigating judge, to complete the progress of investigations in the case and determine the fate of the accused in it.” link 

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CandyKisses:  Integrity reveals a qualitative operation that toppled the director of the Industrial Bank

Baghdad – Iraq Today:

The Federal Integrity Commission announced the ouster of the director of the Industrial Bank, branch of the insurance company, and the treasurer of the bank, on charges of committing the crime of embezzlement.

The Commission’s Investigations Department said in a statement that the Commission’s Investigation Directorate in Baghdad has drawn a working team to check, follow up and investigate information received by the Directorate stating that an organized embezzlement process has occurred in the Industrial Bank – branch of the insurance company.

She added, “After conducting audits and investigations, the judge of the Rusafa Investigation Court, which specializes in issues of integrity, money laundering and economic crime, issued an arrest and search warrant against the defendants, both the director of the Industrial Bank – the branch of the insurance company and the treasurer in the bank,” stressing that “a team from the Directorate hurried to move to the branch of the Industrial Bank in the Sinak area, and the defendants were overthrown while they were inside the bank and the arrest warrant issued against them was implemented.” She added that “the team moved in terms of the first defendant (the bank manager) to his home, and after conducting the search, a sum of money was seized in Iraqi dinars and US dollars, a mobile device type (iPhone 14 Promax), and an unlicensed Kalashnikov rifle, and after inquiring from the defendant’s families, they confirmed that he secured a sum of money in the house of his wife’s friend, where he moved to her home and seized a bag containing nearly a quarter of a billion dinars.”

The Chamber added that “the progress of the preliminary investigations with the defendants and taking their statements led the team to move to the place of residence of the second defendant (the cashier in the bank) and in his place, as after conducting a fundamental search of his house, a contract for the purchase of an external sale of a plot of land of (100 m2) was seized in the name of his wife, pointing out that the accused bought it from the embezzled funds.”

“The operation also resulted in the seizure of a Visa card issued by an exchange company that the cashier at the bank was using to transfer the embezzled amounts of money to the Emirate of Dubai, as well as a copy of a memorandum of association for a fictitious company belonging to the defendant established in the UAE for clothing and fabric trade, and a mobile device with an iPhone 11 type, in addition to a copy of bonds issued by the Industrial Bank – Baghdad, with an original fish number (9),” she said.

She noted that “a fundamental seizure report was organized in the operation, which was carried out in accordance with the provisions of Article (315/2) of the Penal Code and in accordance with the articles of participation (47, 48 and 49) thereof, and presented it to the attention of the competent investigating judge to complete the progress of investigations in the case and decide the fate of the defendants.”