Iraqi News Highlights Saturday Afternoon 5-27-23
Tlm724 Administrator Bondlady’s Corner
The Governor Of The Central Bank Announces The Initiation Of The Establishment Of The Riyada Bank For Social Development
Economy| 01:48 – 05/27/2023 Baghdad – Mawazine News The Governor of the Central Bank, Ali Al-Alaq, announced today, Saturday, the initiation of establishing the Riyada Bank for Social Development, while confirming that the bank will provide the necessary support for the establishment of the bank.
Al-Alaq said in a speech during the annual Iraqi banking conference, that “within the framework of the Central Bank’s endeavor to support the Iraqi economy and the private sector and stimulate the banking sector, we are currently working on completing new projects, including: Youth and owners of small and medium enterprises, and secondly:
the Prime Minister’s launch of the Riyada initiative for development and employment, and this will be the first source in Iraq that cares about vulnerable groups, especially for low-income people, women and owners of small and micro projects, as well as owners of innovation and entrepreneurship and granting them soft loans and simple guarantees because of their great impact reduce unemployment and poverty rates.
He added, “The Prime Minister launched a while ago his initiative to support youth, which is a pioneering initiative for development and employment,” calling on banks to “contribute to the establishment of a pioneering bank for social development because of its social and economic dimensions, and its contribution to increasing the percentage of the non-oil economy.”
He pointed out that “the Central Bank will provide the necessary support for the establishment of this bank in terms of organization, financing and transfer of lending to small projects that we have started since 2015 to this bank, and this will give the bank a strong start by providing this financing from the Central Bank.” https://www.mawazin.net/Details.aspx?jimare=227785
World Bank: Iraq Needs 21 Billion Dollars In The Transport Sector
Economy| 01:46 – 05/27/2023 Baghdad – Mawazine News The representative of the World Bank confirmed, on Saturday, that Iraq needs 21 billion dollars in the transportation sector during the next five years.
And the representative of the World Bank said in his speech during the development conference held in Baghdad, that “Iraq needs to invest more than $ 21 billion in the transport sector during the next five years,” pointing out that “the path of development will increase the interdependence between Iraq and the countries of the region.”
He added, “The development path project will significantly reduce pollution emissions,” stressing that “the World Bank is committed to supporting Iraq in modernizing infrastructure and creating job opportunities.” https://www.mawazin.net/Details.aspx?jimare=227784
Al-Sudani: The Road To Development Is An Economic Artery And A Promising Opportunity For A Convergence Of Interests
political| 11:23 – 05/27/2023 Baghdad – Mawazine News The work of the Development Path Conference was launched in the capital, Baghdad, under the auspices of the Prime Minister, Muhammad Shia’a Al-Sudani.
Al-Sudani said in his speech during the opening of the conference: “I welcome the delegations participating in the Development Path Conference, and your presence in Baghdad is part of the solutions,” adding: “For decades, our region has faced multi-rooted obstacles that extended to multiple problems.”
He stressed, “The obstacles become easy to cooperation, and this is what we understand from officials,” pointing out that “the path of development is an ambitious and deliberate plan to change reality towards a mature economic structure.”
He continued, “We stand on the threshold of the key to confronting the influences that will pass through the path of development,” stressing that “the path of development is an economic artery and a promising opportunity for the convergence of interests, history and cultures.”
He added, “This government has committed itself to starting from the actual needs of the Iraqi people according to studied priorities,” adding, “We have established this conference through constructive understandings with the leaders of your brotherly and friendly countries.”
Al-Sudani concluded his speech by saying: “We are continuing with everything that serves our people, and increases the gates of communication with the geographical neighborhood and cultural extension.” Ended https://www.mawazin.net/Details.aspx?jimare=227777
Advisor To The Prime Minister: The Path Of Development Will Transform Iraq Into An Attractive Environment For Investment
Economy| 02:32 – 05/27/2023 Baghdad – Mawazine News, the media advisor to Prime Minister Hisham Al-Rikabi confirmed, on Saturday, that the path of development will turn Iraq into an attractive environment for investment.
Al-Rikabi said, in a tweet on the “Twitter” platform: “With the launch of the conference activities in Baghdad, the path of development will transform Iraq into an attractive environment for investment and a meeting point for interests among the countries of the region.”
He added, “The road will create a state of diversification and economic pluralism.” Ended 29/N33
https://www.mawazin.net/Details.aspx?jimare=227792
Achieving A Growth Of 31%.. The Volume Of Deposits In The Banking Sector Rises To 20 Trillion Dinars
Economy News-Baghdad On Saturday, the director of the banking department at the Central Bank, Qusma Saleh, revealed the indicators of the Iraqi banking sector in 2022.
In a speech during the annual Iraqi banking conference, Salih said, “The number of letters issued through the guarantee letters platform amounted to more than 62,120 letters of guarantee, with a total amount of about (39) trillion dinars, until 5/25/2023.”
She added, “Total assets in the banking sector grew by 29%, to achieve 188 trillion dinars in 2022, while cash and pledge credit amounted to 93 trillion dinars, achieving a growth of 13% in the same year.”
She pointed out, “The total volume of deposits in 2022 increased by 31% over the past year, to reach 20 trillion dinars.”
As for the total property rights, it amounted to “20 trillion dinars, achieving a growth of 3% compared to 2021.” according to fit
Earlier in the day, the activities of the annual Iraqi banking conference were launched under the auspices of Prime Minister Muhammad Shia al-Sudani, the support of the Central Bank of Iraq, and the organization of the Iraqi Private Banks Association.
The annual banking conference organized by the Association of Iraqi Private Banks is held with the support of the Central Bank and in the presence of a large number of banking leaders in Iraq in addition to the governors of Arab and foreign central banks and international financial institutions.
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