Alaq is deputy chairman of the Board of Governors of the Arab Monetary Fund

Samir Nusairi

Samir Nusairi

On April 25, the Arab Monetary Fund organized the tenth session of the Arab Finance Ministers’ Council to discuss the support of small and medium enterprises, the requirements of developing social security systems, strengthening public debt management and benefiting from modern technologies to improve tax systems and services and follow up progress in the Arab clearing project. During the session, the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alak, was elected as Deputy Chairman of the Board of Governors of the Arab Monetary Fund at its current session and as Chairman of the Board for the next session.

The renewal of confidence by the Arab banks that are members of the Fund with the Iraqi economy and the efforts exerted by its national economic institutions, in particular the evaluation of the great role of the Central Bank of Iraq during the past four years on the level of internal construction and development in the applications of monetary policy and the level of building strong international financial and banking relations with The Arab countries and foreign countries, where the institutions of the achievement of clear achievements during the economic and security shocks experienced by Iraq after the middle of 2014 and contributed to the economic steadfastness, which helped our armed forces to achieve the text On the expeditious terrorism.

Therefore, through the review, analysis and evaluation impartially and transparently of the Iraqi economic situation and in particular is being investigated by the ministries and economic institutions in Iraq from a competent point of view has been reached facts and evidence and signs and achievements confirm that the Central Bank of Iraq proved to be the first economic institution through its important achievements in supporting the economy And achieve economic steadfastness and strive to achieve economic stability in accordance with its strategy and  this is achieved by the work and reality and the team of the Central Bank of Iraq National Excellence. As he contributed to the victory of victory over terrorism accompanied by another victory is the steadfastness and economic victory, which was the team of the Central Bank of Iraq and its governor a key role and leading in achieving.

And the economic victory achieved results, most notably the most important support the state treasury and stabilize the exchange rate and recovery of the Iraqi dinar and reduce inflation and maintain the rate of less than (2%) and maintain a cash reserve sufficient by 160% as cumulative accumulator according to the latest standard of the IMF with a reserve of gold within The adoption of  standards and controls in line with the requirements of international standards in compliance and combating money laundering and terrorism financing and the basic objectives and subsections of its strategy and the activation and consolidation of new visions of monetary policy applications and the important thing achieved is stability Exchange rate and reduce the gap between the official price of the US dollar and the parallel price, a key objective of monetary policy.

And the implementation of policies to restore confidence in the banking transactions of Iraqi banks with Arab and foreign banks and the quest to build a solid banking sector and the continuation of extraordinary efforts to improve the banking reputation of institutions and international financial organizations and correspondent banks.

The establishment of strong relations with the Arab and foreign central banks and the international financial organizations. Also, procedural, regulatory, structural and internal development policies have been drawn up  , which aim at achieving financial stability and developing the banking business technically, structurally and organizationally and raising the financial coverage to the target ratio. And the mechanisms of banking which formed a solid base on the domestic and external scale. It was all these achievements that called on the governors of the Arab banks to elect the relations of Na’aba and the President of their Council in the next session, which is an embodiment that Iraq’s economy is recovering and recovering from its crises and that is a tribute to the Iraqi people and its economic, financial and banking institutions.


Cabinet approves agreement with Siemens to develop electricity


Part of the Iraqi cabinet meeting

Economy News Baghdad:

The Council of Ministers has reached an agreement to implement the development map of the electricity sector in Iraq in cooperation with the German company Siemens. 

“The Council of Ministers approved an agreement to implement the map of the development of the electricity sector in Iraq in cooperation with the German company Siemens,” the council said in a press statement.

The first appearance of the leader of Abu Bakr al – Baghdadi



The news agency “Reuters” the issuance of a new video of the leader of the “Daash” Abu Bakr al-Baghdadi, for the first since 2014.
The new video was published by Al-Furqan, a subsidiary of Al-Furqan, an affiliate of the “Al-Furqan” organization.,15700023,15700186,15700191,15700253,15700256,15700259&usg=ALkJrhjWW895DzLLCC4otCDyBtBDSZPwnA

Hussein, with the Chinese ambassador, to re-activate the road to ensure the movement of goods easily


Release date: 2019/4/29 18:57 
The Deputy Prime Minister for Economic Affairs and Minister of Finance Fuad Hussein discussed the re-activation of the Belt Road to ensure easy transport of goods between the countries of the region during his meeting with Chinese Fiancist Zanq Tao and his accompanying delegation.
“The deputy prime minister congratulated Tao on the occasion of his new position as ambassador of the People’s Republic of China in Iraq,” a statement from Hussein’s media office said. 
“During the meeting, they exchanged views on strengthening economic relations and developing trade balance between Iraq and China,” the statement said. 
“Zank Tao stressed the keenness of his country and Chinese companies and businessmen to participate in the reconstruction and construction campaigns and provide the necessary assistance to ensure oil for investment,” the statement added. 
The statement added that “the two sides discussed the importance of re-activating the road belt, what was called the Silk Road to ensure the smooth movement of goods and goods between the countries of the region.” 

He also reviewed the work of Chinese companies in Iraq and some obstacles to their work and the two sides discussed solutions to overcome these obstacles.
The meeting was attended by the Political Advisor, the Commercial and Political Attachés of the Embassy and the Advisor to the Committee on Economic Affairs. is over

Abdul Mahdi leaves Baghdad to begin a visit that includes Germany and France


Release date: 2019/4/29 18:11 
(Baghdad: Al-Furat News) Prime Minister Adel Abdul-Mahdi left the capital Baghdad to start an official visit involving Germany and France.
His office said in a brief statement, received by the agency {Euphrates News} a copy of it, “the Prime Minister Adel Abdul Mahdi, leaving Baghdad to start a visit involving Germany and France, without mentioning more details.”

Association of Banks organizes the activities of the fifth day of financial inclusion at the University of Nahrain

Aspect of effectiveness


Economy News – Baghdad

The Association of Iraqi Private Banks organized in cooperation with the Central Bank of Iraq at the University of Nahrain on Monday the activities of the fifth day of the week of financial inclusion, with the participation of 27 banks and financial companies, which provided various banking services to university students.

The fifth day of the financial coverage activities was organized according to the plan presented by the Association of Iraqi Private Banks at Al-Nahrain University (Faculty of Business Economics).

Today, 27 banks and a number of financial companies went to the Faculty of Business Economics for the purpose of providing banking services and information, as well as providing services to students, teachers and staff at the College.

Al-Ahli Bank of Iraq, Zain Iraq, Trust, Iraqi Investment, Ashur Bank, Iraq Light, Iraqi Islamic, Middle East, Iraq, World, Commercial, Iraq, South, Levant, Arab, Iraqi Trade, Bank of the Mediterranean, Arab Islamic, Rafidain, Iraqi Union, Al-Rajih, Iraq, Ansari, Jihan and Development. Cash and smart card.

There was a high turnout of students who wanted to use modern electronic payment technologies (smart cards).

The current banks have opened current accounts for students in Mani, in addition to distributing free electronic payment gifts, in addition to educating the graduate students to benefit from a project to finance the opening of small and medium enterprises, in addition to urging teachers to settle their salaries in banks.

Such awareness events are best set up on a seasonal or permanent basis for the purpose of reducing the gap between citizens and banks and creating a banking society, thus completing economic growth.

Source: Abdul Mahdi begins tomorrow a European tour includes the Netherlands, Germany and France

Editorial Date: 2019/4/29 13:28

(Baghdad: Al-Furat News) A source in the Prime Minister’s Office, Adel Abdul Mahdi, said Monday that the latter will visit the Netherlands, Germany and France on Tuesday.

The source said in a press statement that: “The visit will start from the Netherlands and then Germany and France,” noting that “Abdul-Mahdi will meet with the heads of these countries and their heads of government.”

He added that “the most important files to be discussed by Abdul-Mahdi related to the process of restoring stability in Iraq and reconstruction of liberated areas.”

Iraq: $ 6.7 billion in oil export revenues in March

Oil field


Economy News Baghdad

The Ministry of Oil, the total oil exports and revenues achieved for the month of March, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO).

The ministry said in a statement read by “Economy News” that “the value of revenues from oil exports during the last month amounted to 6.71 billion dollars.”

Total exports of crude oil reached 104.7 million barrels in March 2019, it added.

The spokesman for the Ministry of Oil, the total quantities exported crude oil for the month of March from oil fields in central and southern Iraq amounted to 100.91 million barrels, with revenues amounted to 6.49 billion dollars.

Asim Jihad, said that the exported quantities of Kirkuk oil through the port of Ceyhan amounted to 3.63 million barrels, revenue amounted to 193.98 million dollars.

The exports of the Qayara field amounted to 722.95 thousand barrels, with revenues amounted to 21.43 million dollars, according to a spokesman for the ministry.

Jihad explained that the average price per barrel amounted to 64.08 dollars.

He pointed out that the exported quantities were loaded by 40 international companies of different nationalities, from the ports of Basrah and Khor al-Amaya and monsoons on the Gulf and the Turkish port of Ceyhan.