Years imprisonment for the former mayor of Baghdad for intentional damage of more than 12 million dollars

(Al-Mustaqbal) … The Integrity Commission said on Wednesday that the Iraqi Criminal Court of Integrity had sentenced in absentia to seven years in prison for both the Mayor of Baghdad and the Director General of the Department of Parks in the former "Secretariat of Baghdad"

for causing intentional damage to more Of the (12,000,000) million US dollars with the funds and interests of the entity in which they were working.

The Department pointed out in its talk about the details of the case, that the convicted fugitives, they agreed and participate in damage to the funds and interests of the Secretariat of Baghdad during the contract on the project to develop the army channel, indicating that it was contracted with an Egyptian company and local,

based on the decision of the main committee to contract in the Secretariat without preparation The estimated costs of the project, and the amount of damage amounted to (12,165,350) million US dollars.

The court noted that the court, after reviewing the evidence obtained in this case represented by the legal representatives of the General Secretariat of the Council of Ministers and the Secretariat of Baghdad, who requested the complaint against the accused,

in addition to the administrative investigation including their review and referral to the judiciary, Which the Court found sufficient and convincing to convict in accordance with the provisions of Article 340 of the Penal Code in terms of Articles 47, 48 and 49 thereof.

The Chamber noted that the ruling included issuing an arrest warrant, carrying out a fundamental search of the accused and supporting the seizure of their movable and immovable property, while the affected parties (the General Secretariat of the Council of Ministers and the Secretariat of Baghdad) retained the right to seek compensation before the civil courts. End)…-%D9%84%D8%B6/

World Bank report: Iraq will be the highest Arab economic growth by 2019

January 11, 2019

World Bank report: Iraq will be the highest Arab economic growth by 2019 The Middle East and North Africa (MENA) countries are expected to witness a rise in economic growth to 1.9 percent in 2019, according to a World Bank report. The show report recently released titled Figures (Global Economic Prospects: The Middle East and North Africa “bleak skies”) that growth in the GCC will rise to 2.6 percent , supported by the movement of an active investment at the level of the oil – exporting countries, the bank expects that growth declines in Algeria To 2.3 percent due to slower government spending than in 2018. Egypt will see a growth rate of 5.6 percent in 2019, boosted by investments and reforms in the expected business climate. The growth rate in Morocco and Tunisia will reach 2.9 percent in 2019 if tourism indicators improve and political reforms continue.

Although Iraq recorded modest growth in 2018 at 1.9 percent, reconstruction projects, according to the report, will be an important driver for the growth of its economy and neighboring economies, with an expected 6.2 percent, the highest in the Arab world. Growth in Jordan is likely to see a slight improvement of 2.3 percent. 2018 The 2018 estimates showed an improvement in growth to 1.7 percent amid improved economic activity in oil exporting and importing countries. Algeria registered a growth rate of 2.5 percent last year, Egypt with 5.3 percent, Morocco with 3.2 percent and Tunisia with 2.6 percent.

The World Bank has warned of the dangers facing the region, which can discourage growth, as conflicts can escalate and lead to greater damage to income and economic activity, not to mention health and social well-being. 9%2582%25D8%25B1%25D9%258A%25D8%25B1-
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Iraq is among the strongest economies in the Middle East for 2018 .. This ranking

Saudi Arabia exported the Middle East as the largest economy in 2018 in terms of gross domestic product (GDP) at current "nominal" prices of $ 784 billion, while Iraq ranked sixth with a local output of $ 230 billion.

According to the analysis of the report unit in the newspaper "Economic" based on the data of the site spectator index and local statistical bodies of countries, Turkey came second with a nominal gross domestic product of $ 713 billion.

In third place came the UAE with a nominal GDP of $ 432 billion, Iran with $ 430 billion and Egypt with $ 249 billion.

Nominal GDP is the market value of the total final goods and services produced in a given country at current market prices.

Saudi Arabia’s gross domestic product (GDP) is expected to grow at current prices by 6.4 percent in 2019 to 3.13 trillion riyals.

In return for the nominal GDP of the Middle East in 2018, Iraq came sixth with a local output of $ 230 billion, followed by Qatar with $ 188 billion, Kuwait with $ 144 billion and Oman with $ 81 billion.

Lebanon ranked $ 56 billion, followed by Libya with $ 43 billion, Jordan with $ 41 billion, Bahrain with $ 39 billion and Yemen with $ 28 billion.

The Middle East is a geopolitical term for a geographical region located in the western part of Asia and part of North Africa.

These countries are characterized by the Mediterranean, the Red Sea, the Arabian Sea and the Gulf. This term has been used since the 1950s 19th century AD.

Dana Gas PJSC, the Middle East’s largest regional private sector natural gas company, announces that as a result of the ramp up of production from its debottlenecking project in the Kurdistan region of Iraq, its group production reached 70,000 barrels of oil per day (boepd) on the 19 November and has since been sustained above that level.

The Company’s principal operations are in the Kurdistan Region of Iraq (KRI) and Egypt, where the drilling of the Balsam-8 well has also led to a sharp increase in overall production. Current group production, in excess of 70,000 boepd, represents a significant increase compared to the Company’s 9M 2018 average of 62,250 boepd.

Dr Patrick Allman-Ward, CEO, Dana Gas, said:

“Production in excess of 70,000 barrels oil equivalent per day is a great achievement for Dana Gas. At the start of the year, we planned a drilling programme in Egypt and a debottlenecking project in the KRI that would significantly increase production. We have successfully delivered both projects. The increase in production will help offset the lower realised hydrocarbon prices that have impacted the oil industry in the last quarter and support growth in our revenue and net profit figures for the full year 2018 and beyond.

“We remain excited about the long-term future of our world-class assets in the KRI. Further investment is underway to double current production to 900 MMscf/d over the coming three years, together with an increase in condensate to 36,000 bpd and LPG to 1200 MTpd.”

In the fourth quarter 2018, Dana Gas Egypt completed the drilling of the Balsam-8 well and tied it in to the network. The well was completed ahead of schedule and under budget, adding over 5,000 boepd to the Company’s output.

In the KRI, the Company announced a 30% increase in production capacity at the Khor Mor field (pictured), which it jointly operates on behalf of Pearl Petroleum. The expansion of the gas processing plant consisted of a series of plant additions and modifications to de-bottleneck throughput, raising output capacity from 305 MMscf/d of natural gas to 400 MMscf/d, with over 15,000 barrels per day of condensate. This is expected to add up to $50 million annually to the top line without incurring any additional operational costs.

The Company recently posted a strong set of quarterly financial results. 9M 2018 revenue increased 6% to $351 million (AED1,287 mm) from $330 million (AED1,210 mm) over the same period last year and 9M 2018 net profit was $41 million (AED149 mm) versus a net loss of $6 million (AED22 mm) in 9M 2017, excluding one-off items.

(Source: Dana Gas)

The crisis of "Dinar Alalak" pushing Iraq to open the files of currency bleeding and corruption exchange licenses

For the third day in a row, the crisis of what is popularly known as "Dinars Al-Aalak" continues after the issuance of the new version of the Iraqi currency categories 250 and 500 dinars and 1000 dinars and the name of the Governor of the Central Bank acting Ali Muhsin Al-Alaq, which is contrary to the law that restricts the signature through the words of the Governor of the Central Bank or Signing above the words governor only.

The new "Arab" received information from informed sources, confirming that the Iraqi parliament will discuss, Thursday, during its scheduled morning the crisis of the new currency , while calling for deputies of the Sadrist movement and the Communist Party and the Axis Alliance to open the file of the Central Bank of Iraq fully and investigate charges The bleeding of the hard currency and the selectivity of the bank in granting work permits to exchange and transfer companies, and procedures for the sale of the dollar, as well as the reason for the survival of the post of governor by proxy.

An official in the legal department in the Iraqi parliament for "the new Arab", it is scheduled to be opened these files during today’s session, and in case of any circumstances or lack of completion of discussions will be completed the next session on the requests submitted to the President of Parliament by deputies.

The parliamentary official, who declined to be named, that the repercussions of the crisis put the central bank governor on the currency in contrast to the Iraqi law sparked a wide debate on the street, which led to the direction of Parliament to open the file of the bank as a whole.

The governor of the current bank is a member of the Islamic Dawa Party led by Nuri al-Maliki, and took the post of acting governor in 2014 and was before Secretary General of the Iraqi Council of Ministers during the first and second Maliki.

The issuance of the new Iraqi currency within the treatments of the crisis of cash and the damage of small currencies in the category of 250 dinars and 500 and 1000 dinars, and carried the new currencies, another change sparked a controversy, raising the verse "Say Allah is one" for the Iraqi currency, which is a tradition since the Abbasid state in Baghdad and until today , And was replaced by a painting of the marshes of southern Iraq, which are natural water bodies listed on the World Heritage List recently.

Official in The Central Bank of Iraq confirmed to the "new Arab" that what has been offered from the banknotes actually in the market during the past days through government and private banks amounted to about 7 billion dinars, and there are about 40 billion more ready to put in the market gradually during the coming period all bear the name And there are other sums that will reach Iraq, also printed in Switzerland.

The official, who declined to be named, added that another huge amount of the new currency was due to drop to the Iraqi market in early November, but there are doubts about this possibility because of strong opposition by parliament and demands to withdraw what was removed to the market immediately.

For its part, the Central Bank of Iraq issued a statement saying that "the bank has the right under the regulations to determine the categories of currency and metals, paper and its dimensions, forms, material, content, weight, design and other features.

He stressed that "the banknotes in various countries contain the signature of the issuing authority, which is the governor of the Central Bank. Some of them put the signature of the governor on his name, including the person who puts the signature without a name.

The central bank cited the dinar currency issued in 1932, pointing out that this approach is adopted by the central banks of Egypt, Saudi Arabia, UAE, Lebanon, Turkey and others, so the Central Bank of Iraq decided to include the name of the governor when reprinting or issuing any cash, The trends found in the signature alone lack the significance required by the word (governor) on the banknote.

While the move was considered a political propaganda for the governor of the Central Bank by proxy, members of the Iraqi parliament for the "new Arab" that the step indicates the weakness of institutions in the country to the extent that the government and parliament not aware of the new model of the currency only after it was issued.

A member of the Iraqi parliament , Asaad al – Abadi’s "new Arab", " The Governor of the Central Bank violated the law twice the first put his name on the new Iraqi currency, and the second that the law requires the bank to notify the Ministr of finance

legislative, executive and regulatory institutions , such a move as stipulated in articles 32 And 33 of the law of the Central Bank of Iraq for 2004, so this error must be addressed, and is currently being developed frameworks and axes to open the case and discussed in the parliament and take decisions

On the part of the member of the Interim Finance Committee in the Iraqi parliament Alia Nassif, the "new Arab", that "there Law The governor and the central bank must be adhered to and there is no provision in the law indicates that the name of the governor may be added to the currency in addition to signing.

"Therefore I wish that the Governor of the Central Bank would not go in this direction because the perpetuation of the name shall be the work and the disengagement of the Central Bank of the existing pollutants either in the currency or the opening of private (private) banks absurdly … These are the acts that perpetuate and not the name in the banknote, Nassif.

for his part, MP said the national coalition Raad Aldhlki, for "new Arab", he said that if there were a real state of institutions there was a transparent debate on this subject with specialists in this field in order not to fall into these obstacles which we hope will not be negative repercussions on the people Iraqi and not be paid for through the worsening ofliving.

Aldhlki explained that " The Iraqi parliament will issue a clear and explicit decision by themeeting, on Thursday, what he sees fit to contain this and treat. "

Meanwhile, the Iraqi financial expert said Ahmed al – Hamdani for" new Arab "

Al-Hamdani pointed out that the Iraqi currency is printed in Switzerland and the state costs large amounts in hard currency and can be considered as a net now because withdrawing or destroying it means losing large amounts of money to Iraq, but at the same time the central bank governor and its board should be held accountable not only for the currency but also for charges and defaults Many people talk about, from specialists and observers since the transformation of one of the most important positions in the Iraqi state from the position of Mali to another political, according to his saying.

Saleh assures the King of Jordan the need to provide Iraq with information on money smugglers and those wanted for the judiciary


The President of the Republic Barham Salih of Jordan’s King Abdullah II, on Thursday, the need to provide Iraq with information on money smugglers and wanted to the judiciary, while calling for Jordanian companies to invest in Iraq, he pointed to the importance of facilitating the procedures for granting visas to Iraqis.

The Presidency of the Republic said in a statement received by Alsumaria News a copy of that, "President Barham Salih met, on Thursday, in Amman with Jordan’s King Abdullah II."

The two sides discussed the developments in the Arab region and the necessity of working to support the unity of the Arab ranks and the convergence of views on the issues related to the security and stability of the region.

They pointed out the importance of cooperation in activating the tripartite strategic partnership (Iraq / Jordan / Egypt ) "He said.

He pointed out that "the President of the Republic discussed with the King of Jordan the return of Iraqi frozen and smuggled funds, where he stressed the need to provide Iraq with information on smugglers and wanted to justice, as well as discuss coordination and military cooperation and exchange of information between the security services in both countries."

The statement added that "On the economic side, the two sides discussed the establishment of a free industrial city at the border port in Trebil, and the project of electricity connection between Iraq and Jordan through Anbar province ."

Saleh stressed, "according to the statement," the need to strengthen relations between the two countries by opening greater horizons for cooperation in the fields of trade and economic and security coordination common, "praising" Jordan’s position on Iraq in its war against terrorism. "

"The victory of Iraq and the defeat of the terrorist organization is a victory for the region and the world. It is necessary to preserve this victory by standing up against everything that destabilizes peace and stability," he said. "He said.

He urged the President of the Republic "Jordanian companies to invest in Iraq," pointing at the same time to "the importance of facilitating the procedures for granting visas to Iraqis."

For his part, the Jordanian King "congratulations on the assumption of the President of the Republic Barham Saleh functions," stressing his country’s keenness on "security and stability of Iraq."

It is noteworthy that President Barham Salih arrived earlier in the day, Thursday, to Jordan on an official visit.…D8%A7%D8%AA/ar

Washington reveals its "new" ambassador in Baghdad .. This is his history

US President Donald Trump plans to nominate Matthew Toler as US ambassador to Iraq, replacing Douglas Seelman, who has represented his country in Iraq since 2016.

"If he succeeds, he will succeed Douglas Seleman, who has spent nearly two years as ambassador to Baghdad," the White House said in a statement.

Toller is the US ambassador to Yemen since 2014 and was ambassador to Kuwait, as he has worked for Washington embassies in Cairo, Baghdad, Kuwait and Riyadh in various positions.

He served in the US State Department as deputy director of the North Gulf office and an official in the Egyptian office, as well as deputy director of the North Gulf Affairs Office at the Foreign Ministry.

He holds a bachelor’s degree from Prigham Yang University and a Masters from Harvard University, an SIA IntelligenceAward and two Presidential Honorary Awards, a Baker Wilkins Award from the State Department for the post of Deputy Chief of Mission, and fluent in Arabic.

Advertising Feature

By Veronica Cotdemiey, CEO of Citizenship Invest.

Turkish Nationality: The Most Desired Citizenship Program among GCC Expats

Citizenship by Investment programs have been witnessing some major changes and one of them is the introduction of the new Turkish citizenship program which was published on the Official Gazette and entered into force in September 2018. The new law requires a minimum Real Estate investment of USD 250,000 and the citizenship could be obtained in approximately 6 months.

With over 4 million Arabs residing in Turkey, the country is certainly one of the most desirable destinations for Middle Eastern people. Historically Arabs feel at home in Turkey, love Istanbul and the demand for the newly launched citizenship program shows so. Turkey has the 17th largest economy in the world and its on its way to hit the 1 billion USD mark in GDP in 2020.

In 2018 Turkey has seen an increase in real estate sales by over 20%. This is largely due to the drop of the property prices after the imposed US sanctions that weakened the Turkish Lira. Buying a property in Turkey today is almost 50% cheaper than a year ago only due to the exchange rate.  With the amendment of the citizenship legislation, sales in Turkey are set to fly.

There are many advantageous aspects of becoming a Turkish citizen. Firstly, investors can obtain the citizenship without ever residing in Turkey and within a period of approximately 6 months from submission of the citizenship application.

There is a high number of expats from countries like Iraq, Lebanon, Syria, Yemen and Egypt to name a few, who currently reside in the GCC, facing difficulties to obtain visas due to their current passports and looking for options. Turkey poses a good investment choice for them as it allows the option of owning property as well as a strong passport simultaneously and the possibility of moving to Turkey if they wish.

Turkey offers applicants the eligibility to become citizens through multiple ways such as a fix deposit of USD 500,000 for 3 years in a bank operating in Turkey; a fixed capital investment; or even generate employment in Turkey. However, the most interesting option is through investing in Turkey’s suppressed real estate market.

Investors are scrambling to find the property of their choice to qualify for the citizenship knowing that they can sell it after 3 years and keep the citizenship for life. An additional advantage is that the property can be passed to children without paying any form of inheritance tax.

A foreigner acquiring Turkish citizenship by investment has the same rights as any Turkish born in the country, therefore for those wanting to make Turkey their home this is a great advantage having the same level of equality, included the ability to pass the citizenship to future generations. The Turkish passport allows  visa free travel to 111 countries, including Japan, South Korea, Singapore and other major countries in Asia, Africa and South America.

Investors do not need to reside in Turkey at any point in time, which means they do not need to disrupt their lives and can just keep it as an option for the future. Spouse and all dependents under 18 years of age are eligible for the Turkish citizenship as well.

If the investor decides to live in Turkey, the country offers amazing quality of services and is considered to be one of the most low-cost places to live in. Basic costs like Electric and gas, council tax, rent, renovations, maintenance, food and drink, everyday groceries, transport and even petrol costs are just a fraction of what it costs in the EU and other developed countries.

Turkey’s infrastructure makes transport in Turkey convenient and reliable with easy access to a number of airports all year round, your journey home is normally within half an hour in most popular locations.

The Iraqi dinar exchange globally today


– U.S. dollar

US Dollar = US $ 1,190.0000

1 Iraqi Dinar = 0.0008 USD

Euro EUR 1 Euro = 1,370.8177 Iraqi Dinar

1 Iraqi Dinar = 0.0007 Euro

– Sterling pound

GBP 1 GBP = 1,544.9229 Iraqi Dinar

1 Iraqi Dinar = 0.0006 £

Canadian Dollar

Canadian Dollar 1 Canadian Dollar = 927.5859 Iraqi Dinar

Iraqi Dinar = 0.0011 Canadian Dollars

Australian Dollar

Australian Dollar 1 Australian Dollar = 847.9891 Iraqi Dinar

1 Iraqi Dinar = 0.0012 Australian Dollars

– Japanese Yen

JPY 1 JPY = 10.4025 Iraqi Dinar

Iraqi Dinar

Swiss Franc

Swiss Franc 1 Swiss Franc = 1,202.1416 Iraqi Dinar

1 Iraqi Dinar = 0.0008 Swiss Franc

Turkish Lira

Turkish Lira 1 Turkish Lira = 197.0975 Iraqi Dinar

Iraqi Dinar = 0.0051 Turkish Lira

Chinese Yuan

Chinese yuan = 1 yuan = 173.2421 Iraqi dinars

1 Iraqi Dinar = 0.0058 Chinese Yuan

– Thai Baht

Thai Baht 1 THB = 36.5931 Iraqi Dinars

1 Iraqi Dinar = 0.0273 Thai Baht

– Ringit Malaysia

Ringgit Malaysia 1 Ringgit Malaysia = 287.4743 Iraqi Dinar

Ringtone Malaysia

Indian Shrimp

Indian Rupee 1 Indian Rupee = 16,141 Iraqi Dinars

Indian Rupee

The Iranian Rial

Rial Omani Iranian Rial = 0.0280 Iraqi Dinar

1 Iraqi Dinars = 35,7118 Iranian Riyals

Arab currencies

– Egyptian Pound

Egyptian Pound 1 Egyptian Pound = 66.4192 Iraqi Dinar

1 Iraqi Dinar = 0.0151 Egyptian Pounds

– Saudi riyal

Saudi Riyal 1 Saudi Riyal = 317.3460 Iraqi Dinar

1 Iraqi Dinar = 0.0032 SAR

– The UAE Dirham

United Arab Emirates dirham = 323.9770 Iraqi Dinar

1 ID = 0.0031 AED

Sudanese Pound

Sudanese Pound 1 Sudanese Pound = 66.1111 Iraqi Dinar

Iraqi Dinar = 0.0151 Sudanese pounds

– Algerian dinar

The Algerian Dinar =

1 Iraqi Dinar = 0.0995 Algerian Dinars

– The Bahraini Dinar

Bahraini Dinar = BD 3,156,6913

1 Iraqi Dinars = BD 0.0003

– Jordanian Dinar

Jordanian Dinar = JD 1 = 1,675.8085 Iraqi Dinar

Iraqi Dinar = 0.0006 JD

Kuwait Dinar

Kuwaiti Dinar = KD 3,920,5480

IQD = KD 0.0003

Lebanese Pound

Lebanese Pound = LBP = 0.7881 Iraqi Dinar

1 Iraqi Dinar = LBP 1.2689

Libyan Dinar

Libyan Dinar 1 Libyan Dinar = 857.3796 Iraqi Dinar

1 Iraqi Dinars = 0.0012 Libyan Dinars

The Moroccan Dirham

Moroccan dirham 1 Moroccan dirham = 125.7059 Iraqi dinar

1 Iraqi Dinars = 0.0080 Moroccan Dirhams

Mauritanian Ounces

Mauritanian ouguiya 1 Mauritanian ouguiya = 3.3333 Iraqi dinars

1 Iraqi Dinar = 0.3000 Mauritanian ouguiya

– Syrian Lira

Syrian Pound 1 Syrian Pounds = 2,3106 Iraqi Dinars

1 Iraqi Dinar = 0.4328 Syrian Pounds

Somali Shilling

Somali Shilling 1 Somali Shilling = 2.0553 Iraqi Dinar

Somali Shillings

Omani Rial

Omani Rial 1 Omani Rial = 3,091,5676 Iraqi Dinar

1 Iraqi Dinars = RO 0.0003

Qatar Riyal

Qatari Riyal 1 Qatari Riyal = 326.8333 Iraqi Dinars

1 IQD = 0.0031 QAR

– The Tunisian Dinar

Tunisian dinar 1 Tunisian dinar = 422.8104 Iraqi dinar

1 Iraqi Dinars = 0.0024 Tunisian Dinars

The Yemeni Riyal

Yemeni Riyal 1 Yemeni Riyal = 4.7533 Iraqi Dinars

Iraqi Dinar = 0.2104 Yemeni Riyals

– The Djiboutian Franc

Djibouti Franc = Djibouti Franc = IQD 6,6854

1 Iraqi Dinar = 0.1496 Djibouti Franc…A%D9%88%D9%85/