Foreign Minister Discusses With Washington The Issue Of Frozen Iranian Funds In Iraq

Money  and business  Economy News – Baghdad  Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein held an important meeting with the US Under Secretary of State for Political and Administrative Affairs, John Bass, in Washington, DC, during which the issue of frozen Iranian funds in Iraq was discussed.

According to a statement by the Ministry of Foreign Affairs, Fuad Hussein stressed “the importance of strengthening US-Iraqi relations in various fields,” noting “the common desire to expand political and economic cooperation between the two countries.”

The Minister addressed the issue of frozen Iranian funds in Iraq, stressing the need to find a quick and fair solution that serves the interests of both parties and enhances financial stability in the region.

In the context of enhancing economic cooperation and bilateral relations, special emphasis was placed on enhancing economic cooperation between the United States and Iraq. Minister Hussein pointed out the importance of supporting the financial and banking sector in Iraq, with an emphasis on the challenges related to the use of the dollar in financial transactions.

He stressed the “need to find solutions that enhance the stability of the Iraqi economy and contribute to achieving sustainable growth.” 2024/07/12 – https://economy-news.net/content.php?id=45145

Foreign Minister From Washington: The US Treasury Evaluated The Efforts Of The Central Bank Positively

 Political     Yesterday, 23:09  Washington – IA  Deputy Prime Minister and Foreign Minister Fouad Hussein confirmed that the  US Treasury Department evaluated the efforts of the Central Bank positively, while  indicating that a military delegation would visit Washington to hold security discussions.

 Hussein said in a press conference held in the American capital, Washington, attended by the Iraqi News Agency (INA), that  “our visit to Washington was to attend the NATO summit at the invitation of the American side, and  on the sidelines of the summit we held extensive meetings with leaders of several countries, and  we held a meeting with the US Treasury Department to discuss issues.” Related to monetary policy and banking signals.

He added,  “The US Treasury Department positively evaluated the efforts of the Central Bank,” noting that  “a military delegation will visit Washington to hold discussions about the security agreement concluded between Iraq and the United States.”  He continued: “We discussed in the NATO meetings the future of the international mission, along with cooperation with the Iraqi Ministry of Defense.”    https://www.ina.iq/212487–.html

ICC Opens Office In Iraq: This Is What We Are Working On

Money and business  Economy News – Follow-up  The Paris-based International Chamber of Commerce (ICC) has announced the expansion of its global presence through the official launch of the chamber’s new headquarters in Iraq from the French capital, thus enhancing the spread of the chamber’s network of offices worldwide.

According to the official website of the International Chamber of Commerce, which was founded in 1919 in the French capital, it has a network of offices in more than 170 countries, and represents more than 45 million business companies.

The website stated that the official launch of the International Chamber of Commerce in Iraq was celebrated at the global headquarters of the Chamber in Paris, which will work to enhance the mission of the International Chamber of Commerce in Iraq, and strengthen the voice of Iraqi businessmen and chambers all over the world.

The report indicated that the International Chamber of Commerce of Iraq will constitute an addition to the total number of international chambers of commerce, reaching 92 around the world.

He added that a delegation from the International Chamber of Commerce of Iraq joined the official celebration in Paris, which was followed by a celebration at the Iraqi embassy in the French capital.

“The context in which companies operate today is one of geo-economic and geopolitical tensions that are causing instability, uncertainty and new challenges in Iraq and beyond,” ICC Secretary General John W. H. Denton was quoted as saying in the report. “Bringing our mission to Iraq will deliver real value to Iraqi companies and the real economies in which they operate.”

According to the report, the ICC Iraq will support the ICC’s institutional goals of promoting peace, prosperity and opportunities for all through local committees on arbitration, alternative dispute resolution, digital economy, intellectual property, trade and investment.

The report pointed out that the founding members of the International Chamber of Commerce of Iraq are Abdul Razzaq Al-Zuhairi, who holds the position of honorary president of the International Chamber of Commerce of Iraq and president of the Federation of Iraqi Chambers of Commerce, in addition to the president of the International Chamber of Commerce of Iraq, Mohsen Al-Hamid, who also heads the “Asriya Group”, along with Ahmed Al-Yasiri, Secretary-General of the International Chamber of Commerce of Iraq, who is also an advisor on international organizations.

The report concluded by pointing out that the members of the International Chamber of Commerce of Iraq, through their headquarters in Iraq, help formulate the policies of the International Chamber of Commerce and alert governments to what interests international business.  https://economy-news.net/content.php?id=45146

Rafidain: The Digital Transformation Plan Is Proceeding According To The Set Schedule

  Rafidain Bank announced the implementation of the comprehensive banking system in the Baladruz branch in Diyala Governorate, stressing that the digital transformation plan is proceeding according to the scheduled timings.

The statement said, “In implementation of the government program to move from paper transactions to electronic transactions to provide the best services to citizens, Rafidain Bank announces the implementation of the comprehensive banking system in the Baladruz branch in Diyala.”

The statement added that the Baladruz branch “has thus joined the branches that have activated the comprehensive system in Baghdad and the governorates, in addition to the border crossing branches (Zurbatiyah – Safwan – Arar – Trebil), so that the number of branches that have implemented and completed the system has become 32 branches, in an important step to strengthen the banking system and achieve its requirements and leave paper work and move completely to electronic systems.”

He stressed that “the digital transformation plan and the adoption of the comprehensive banking system are proceeding according to the set timetables to include all bank branches in the implementation of the system, especially since the priorities and adoptions of the government program include electronic transformation in financial transactions, reducing the circles of routine for citizens, shortening time, simplifying procedures, overcoming obstacles, and intensifying efforts to improve the level of services provided to customers and completing their transactions.”  LINK

The Iraqi Chambers Of Commerce Signs A Memorandum Of Understanding With Its European Counterparts

 Economy     European Union     Federation of Iraqi Chambers of Commerce     Memorandum of Understanding

2024-07-12 08:22   Shafaq News/ The European Union Ambassador to the Republic of Iraq, Thomas Seiler, announced that Iraq had signed a memorandum of understanding with the European Chambers of Commerce.

Sayler said in a statement received by Shafaq News Agency:

“On my initiative, the Federation of Iraqi Chambers of Commerce and the European Chambers (its counterpart at the European Union level) signed today in Brussels a memorandum of understanding for mutual cooperation.”

He added, “This understanding will give Iraqi companies access to better options for cooperation and trade with companies in a large market that includes more than 40 European countries, including the 27 member states of the European Union.” He stressed that  “supporting small and medium-sized companies and developing the private sector is a major political goal of our cooperation with Iraq.”   https://shafaq.com/ar/اقتصـاد/غرف-التجارة-العراقية-توق-ع-مذكرة-تفاهم-مع-نظيراتها-الاوروبية

For The First Time…Non-Oil Revenues Recorded An Increase Of 11%

  A report of economic studies and consultations revealed today, Thursday, that

it is the first time in the Iraqi state’s revenues that non-oil revenues have recorded an increase of 11% of total revenues, while oil revenues have fallen below the 90% barrier. The report, which was followed by “Iraq Observer,” said,

 “For the first time, Iraq’s non-oil revenues recorded an increase of approximately 11% of total revenues, and oil revenues fell below the 90% barrier.”

 He added,  “Non-oil revenues for the first five months of the year recorded an amount of 6.24 trillion Iraqi dinars, while oil revenues for the first five months of the current year recorded an amount of 48.4 trillion Iraqi dinars.”

 He continued,   “Revenues from taxes on income and wealth rose by 118%, revenues from commodity taxes and production duties rose by 285%, revenues from duties rose by 50%, while oil revenues rose by 6.4%.”

He stated, “The increase in non-oil revenues is an achievement of economic reform policies and mechanisms for controlling taxes and customs tariffs.” He expected that   “the total non-oil revenues for the year 2024 will amount to 15 trillion Iraqi dinars,  but they are far from the plan in the 24 budget tables, amounting to 27 trillion dinars.”  https://observeriraq.net/لأول-مره-الإيرادات-غير-النفطية-تسجل-ا/