Day: June 18, 2023

British report: Al-Sudani passed the first test by passing the budget and removing Iraq from the battlefield

Walter
post-image

00:54  2023-06-18  125  Arab and international reports 0

Today, Saturday, a British report spoke about the important role of the government program that Prime Minister Muhammad Shia’a al-Sudani developed and began implementing in stabilizing Iraq, referring to the political stability the country is currently experiencing, and the parliament’s success in approving the country’s federal budget for three years.
A report by the Middle East Monitor, which was followed by Al-Mawalaa, said: “With the help of high oil prices and a period of political calm at home and in the region, Iraq appears more stable than at any time since the US-led invasion. 

In office since October last year, Prime Minister Mohamed Shia al-Sudani launched a program to rebuild infrastructure and attract foreign investors.

“We are optimistic about the outlook in the short term, but there are major challenges in the medium to long term, and the Sudanese government should prepare for them,” said a Western diplomat. 

Having sworn to power, Al-Sudani passed his first major test this week by passing the state budget through parliament, and he also managed a difficult diplomatic balancing act dealing with relations with arch-rivals Iran and the United States.

The government advisor for foreign affairs, Farhad Alaeddin, said that Al-Sudani served all Iraqis.

Seeking to boost the economy, Al-Sudani has turned to foreign investment, including reviving a $27 billion deal with France’s Total Energy and Qatar Energy to develop oil and gas production.

Meanwhile, his diplomatic overtures have included visits to Germany, France and Saudi Arabia, but in particular, he has secured support from the United States, which has 2,500 troops in Iraq to advise and help fight the remnants of ISIS.

US Assistant Secretary of State for Near Eastern Affairs Barbara Leaf said the government’s agenda for economic reform and fighting corruption is “exactly what the doctor ordered.”

“We will support the work of this government through those steps,” she said in Baghdad in May, describing Iraq as a place for cooperation rather than a “battlefield.”

https://almutalee.com/news/%D8%AA%D9%82%D8%B1%D9%8A%D8%B1-%D8%A8%D8%B1%D9%8A%D8%B7%D8%A7%D9%86%D9%8A-%D8%A7%D9%84%D8%B3%D9%88%D8%AF%D8%A7%D9%86%D9%8A-%D8%A7%D8%AC%D8%AA%D8%A7%D8%B2-%D8%A7%D9%84%D8%A7%D8%AE%D8%AA%D8%A8%D8%A7%D8%B1-%D8%A7%D9%84%D8%A3%D9%88%D9%84-%D8%A8%D8%AA%D9%85%D8%B1%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D9%8A%D8%B2%D8%A7%D9%86%D9%8A%D8%A9-%D9%88%D9%86%D9%82%D9%84-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%85%D9%86-%D8%B3%D8%A7%D8%AD%D8%A9-%D8%A7%D9%84%D9%85%D8%B9%D8%B1%D9%83%D8%A9

Oil: Oil exports through Türkiye are likely to resume next week

Walter
post-image

21:41  2023-06-18  101  Economy 0

Today, Sunday, the Iraqi Oil Ministry revealed that a Turkish delegation had visited Baghdad to discuss the resumption of oil exports from the Kurdistan region.


“A Turkish delegation will visit Baghdad tomorrow to discuss re-exporting oil from the Kurdistan region,” said Assem Jihad, a spokesman for the Iraqi Oil Ministry, in a statement to Kurdish media.
 
“It is likely that oil exports through Turkey will resume next week,” he added.

https://almutalee.com/news/%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%85%D9%86-%D8%A7%D9%84%D9%85%D8%B1%D8%AC%D8%AD-%D8%A3%D9%86-%D8%AA%D8%B3%D8%AA%D8%A3%D9%86%D9%81-%D8%B5%D8%A7%D8%AF%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%B9%D8%A8%D8%B1-%D8%AA%D8%B1%D9%83%D9%8A%D8%A7-%D8%A7%D9%84%D8%A3%D8%B3%D8%A8%D9%88%D8%B9-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84

KRG working to Standardise the Banking System

Walter

18th June 2023 in Iraq Banking & Finance News

By John Lee.

KRG Prime Minister Masrour Barzani has said that, while the KRG’s financial reforms project is still in its preliminary stages, its ultimate goal is to digitise the public sector’s payroll, benefiting 1.2 million civil servants.

Additionally, the project aims to involve the private sector to ensure accessibility and convenience for everyone in the region.

He went on to express the government’s determination to standardise the banking system across the region, highlighting collaboration between the KRG and the governor of the Central Bank of Iraq (CBI), who is cooperating to further enhance the Kurdistan Region’s banking system.

Barzani made the comments at the inauguration of the new head office of Cihan Bank in Erbil.

(Source: KRG)

@iraqbiznews

The Governor of the Central Bank of Iraq receives a delegation from the United Nations to agree on a package of programs between the two parties

Walter

June 18, 2023The Governor of the Central Bank of Iraq receives a delegation from the United Nations to agree on a package of programs between the two parties

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received today, Sunday, the Assistant Secretary-General of the United Nations and the Regional Director for Arab States of the United Nations Development Programme (UNDP), Mr. Abdullah Al-Dardari and his accompanying delegation.
The two parties discussed strengthening bilateral cooperation and discussing the possibility of creating institutional cooperation in the field of development support and the success of development programs that Iraq wishes to implement.
During the meeting, His Excellency said that the contribution of the Central Bank of Iraq in diversifying the economy and empowering the private sector through an unconventional monetary policy was characterized by supporting and stimulating the economy directly, pointing out that this bank adopted many initiatives to support small, medium and large enterprises, as well as the renewable energy initiative.
He pointed out that the Central Bank of Iraq is working with sufficient flexibility to qualify it to build a distinguished economic model that helps the Iraqi economy by providing various job opportunities in the private sector, announcing the launch of strategies to enhance the financial depth, including the establishment of a leadership bank, a loan guarantee company, and a financial center for business. Prioritizing SME financing as the core of economic growth and employment among the initiatives adopted by this bank.
In turn, the head of the delegation, Mr. Abdullah Al-Dardari, reviewed the incentives of UN support for Iraq, stressing that the United Nations Development Program seeks to provide support to the Iraqi banking sector to create greater job opportunities in the private sector.
The head of the delegation expressed the desire of the United Nations to create partnership and institutional cooperation in technical fields, stressing his interest in the initiatives of the Central Bank of Iraq in renewable energy and financing small and micro development projects, as well as the possibility of working to reduce risks in the field of loan subsidies through a conceptual package that will be a document of a promising development program between the Central Bank of Iraq and the United Nations Development Programme (UNDP).

Central Bank of Iraq
the media office
18 – June – 2023

cbi.iq

In cooperation with private and government banks. The governor of the central bank presents large financial projects

Walter

June 18, 2023In cooperation with private and government banks. The governor of the central bank presents large financial projects

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired today, Sunday, the periodic meeting of government and private banks.
During the meeting, which was attended by the departments of banks, His Excellency stressed a number of projects that are consistent with the requirements of the economic reality in Iraq, explaining that these projects establish a qualitative leap in the economy of Iraq and enhance its stability, revealing at the same time the project of establishing a leadership bank, and the project of establishing a loan guarantee company that facilitates the lending process for medium, small and micro projects, as well as the direction of the Central Bank of Iraq, in cooperation with the government and the contribution of the financial, banking and business sectors, to establish the city of “Financial and Business Center in Iraq.”
His Excellency participated in the discussions put forward by a group of banks on the initiatives of the Central Bank, the relationship between banking institutions and customers, and regarding the development of mechanisms for access to the electronic platform for the sale of foreign currency.
His Excellency noted the possibility of opening new channels for external transfer and the high rate of implementation of daily transfers.

Central Bank of Iraq
the media office
18 – June – 2023

cbi.iq

Commission Reveals A New Date For The Region’s Elections Is Imminent

Walter

18/06/2023

1873

Earth News / Election Commission spokesman Imad Jameel revealed on Sunday the difficulty of holding the Kurdistan region elections in conjunction with the provincial council elections, and between that the difference should be 5 months, he referred to a decision that will be issued soon.

Jamil said in a statement to Earth News that “according to international standards, each election date must be preceded by 6 months, it is specific to the schedule of operations to implement these elections, including procedures, training and registration of voters, updating the register and distributing a voter card.”

He added that “the region is different in fact, the problem is not at the time, but the problem is that the regional elections coincide with the provincial council elections, because the difference between them will be one month, and this is not possible because we need technical logistical issues, and these cannot be accomplished in this period,” noting that “the difference between the first and second elections must be at least 4 – 5 months, to be accomplished correctly and in the required technical form.”

He revealed that “there are discussions in fact and contacts between the region and the Commission and it is possible that in the few days a final statement will be issued on the date of the regional elections.”

https://earthiq.news/archives/248200

The Central Bank of Iraq moves to open new channels for external conversion

Walter

EconomyThe DollarCentral Bank Of IraqExternal TransfersAli Al-Alaq

2023-06-18 14:40Font

Shafaq News / The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, noted on Sunday the possibility of opening new channels for external transfer of hard currency, and raising the rate of implementation of daily transfers.

This came during the periodic meeting of government and private banks, which was held in Baghdad, according to a statement received by Shafaq News Agency, and witnessed the discussion of a number of projects that are in line with the requirements of the economic reality in Iraq.

Al-Alaq stressed that these projects establish a qualitative leap in Iraq’s economy and enhance its stability,” revealing at the same time the project to establish a Riyada bank, and the project to establish a loan guarantee company that facilitates the lending process for medium, small and micro enterprises.

He pointed out that the Central Bank of Iraq, in cooperation with the government and the contribution of the financial, banking and business sectors, has directed to establish the “city of the center of finance and business in Iraq.”

The relationship participated in the discussions put forward by a group of banks on the initiatives of the Central Bank, the relationship between banking institutions and customers, and regarding the development of mechanisms for access to the electronic platform for the sale of foreign currency.

https://shafaq.com/ar/اقتصـاد/المركزي-العراقي-يتحرك-لفتح-قنوات-جديدة-للتحويل-الخارجي

The Grand Ayatollah Sistani announces next Tuesday the first day of the month of Dhul-Hijjah

Walter

local | 08:10 – 06/18/2023

image

Baghdad – Mawazine News
The office of the religious authority, Sayyid Ali al-Sistani, announced that Tuesday next week will be the first day of the month of Dhu al-Hijjah.

Al-Sistani’s office in Najaf said in a statement, a copy of which Mawazine News received, that “tomorrow, Monday, is the completion of the sacred month of Dhul-Qi’dah, and Tuesday corresponding to (6/20/2023 AD) is the first of the sacred month of Dhul-Hijjah for the year 1444 AH. And we ask you to pray.” End 29/M99

https://www.mawazin.net/Details.aspx?jimare=229586