Iraq Economic News and Points to Ponder Sunday 4-28-2024
Will the agreements signed with the US Treasury reflect positively on the exchange rates?
Money and business Economy News – Baghdad Today, Thursday, economic expert Abdul Rahman Al-Mashhadani stated the possibility of Iraqi getting a green light to contract with Iranian companies that are not sanctioned by the United States, while anticipating the impact of the Central Bank’s agreement with the US Treasury on exchange rates.
Al-Mashhadani said, in an interview with Al-Iqtisad News, “The visit of the Prime Minister, Muhammad Shiaa Al-Sudani, to America is very positive, but so far the results of what was agreed upon in Washington have not appeared.” He added: “It is hoped that the Central Bank of Iraq will announce the measures that were agreed upon in Washington, which could have a positive impact on the exchange rate,” pointing out that “the real problem of exchange rates has not yet been solved, which is dealing in trade with banned countries.”.
The economic expert explained, “The economic aspect was the main focus of Sudanese’s visit to Washington, and it became clear through the meetings and discussions held by the Central Bank of Iraq, with the US Treasury regarding the sanctions imposed on Iraqi banks or even the issue of financial transfers to Iran, in addition to the required investments, which “It is possible to sign in the energy field.”
He stressed, “Iraq got the other light by contracting with unsanctioned Iranian companies, which allowed the Ministry of Electricity to sign a contract to recover Iranian gas for a period of five years,
at a time when the government is heading to end this file after 3 years, according to what was announced. – https://economy-news.net/content.php?id=42812
Parliamentary Integrity: Iraq Can Track Money Laundering Crimes Even Abroad
Politics/Security |Today, 16:40 |Baghdad today – Baghdad The Parliamentary Integrity Committee confirmed today, Sunday (April 28, 2024), that Iraq can track money laundering crimes, through its supervisory bodies, even outside the country.
Committee member Duraid Jamil Ishou told “Baghdad Today” that “Iraq, through its competent oversight bodies in the Integrity Commission as well as its competent security agencies from the Intelligence Service and others, can track all money laundering crimes,” noting that “Iraq has achieved success in this file during the last period”.
Ishua stated, “Some of the movements of these agencies in this file are secret to ensure the success of the tracking operations, and there is coordination with the country in which the money is being moved, in addition to tracking the fleeing corrupt people in coordination and cooperation with the international police,” noting that “Iraq’s foreign relations are good with all countries.”
This contributed to achieving success in pursuing the fleeing corrupt people and recovering Iraq’s smuggled money.”
The Integrity Commission had announced that international arrest warrants had reached 19, and the number of requests for legal assistance related to seizing smuggled funds outside Iraq had reached 17 requests, while smuggled funds and their financial transfers amounting to 400,000 US dollars, 22 real estate, 8 shares in companies, 9 bank accounts, and one wheel were followed.
While the value of corruption funds smuggled outside Iraq amounted to 1,400,500 US dollars, and 10 real estate properties in one investigative case, according to the Integrity Report for 2023 activities.
Press Release On The Occasion Of Arab Financial Inclusion Day – April 26, 2024
April 28, 2024 A press release issued by: The Secretariat of the Council of Governors of Central Banks and Arab Monetary Institutions (Arab Financial Inclusion Day – April 26, 2024) under the slogan: “Towards encouraging saving to enhance financial inclusion”.. https://cbi.iq/news/view/2556
To view, click here https://cbi.iq/static/uploads/up/file-171430627871664.pdf
approximate and incomplete translation of:
Press release issued by: Secretariat of the Board of Governors of Central Banks and Arab Monetary Institutions
Arab Financial Inclusion Day – 26 April 2024
Under the slogan: “Towards encouraging savings to enhance financial inclusion”
The issue of financial inclusion receives great attention from the Board of Governors of Central Banks and Monetary Institutions Arabic.
Recognizing the potential and significant opportunities that can be realized by enhancing access to services Finance in Arab countries to support comprehensive and sustainable economic development.
There is no doubt that saving is one of the most important Financial services play an important role in promoting financial inclusion, economic stability and development in general.”
Studies have shown that economies and economic groups with good levels of saving are more stable Economically, stable growth rates and ability to withstand shocks.
Hence, the authorities in the Arab region have given special attention to encouraging savings by supporting the development of tools New savings that suit individuals’ needs: improving financial infrastructure and expanding access to services Financial services for all sectors of society through digital financial services, which contributes to comprehensive development And sustainable.
Accordingly, the Arab Financial Inclusion Day for the year 2024 is commemorated under the slogan “Towards encouraging savings to enhance… “Financial inclusion.”
In this context, it is important for the regulatory authorities to establish regulatory frameworks that provide justice and protection For the financial saver in order to enhance saving and the financial and banking sector initiative to promote the culture of saving and raise awareness of its importance
“In providing financial independence to individuals” and developing innovative financial products that suit the needs of all segments of society It encourages them to save.
World Bank statistics for the year 2021 indicate that the percentage of the adult population in the Arab region who saves in…
Formal financial institutions have risen on average from 6 percent in 2011 to 10 percent in 2021
Despite the progress made.
Opportunities are still great, especially for financial and banking institutions. To improve Accessing savings products in Arab societies and targeting deprived sectors and promising areas through Adopting appropriate policies.
Within the framework of its strategy, the Arab Monetary Fund pays great attention to developing the financial sector, especially at the level of…
Promoting financial inclusion with the aim of achieving comprehensive and sustainable development and financial stability in Arab countries. in
In this regard, the Fund works in cooperation with Arab central banks to identify obstacles and challenges
Which prevents the promotion of savings among all segments of society” and supports the encouragement of the development of savings products and accounts
It provides attractive returns and motivates these groups to save, in addition to enhancing the use of modern financial technologies to facilitate… Access to savings accounts.
Arab central banks also work to issue laws and regulations
Which enhances fairness and transparency in savings products and how financial institutions deal with individual savers.
On this occasion, His Excellency Dr. Fahd bin Mohammed Al Turki, Director General and Chairman of the Board of Directors of the International Monetary Fund, confirmed
Al-Arabi stressed the importance and role of financial inclusion in facing economic challenges that affect economic growth “Economic development” by mobilizing the necessary resources to increase savings and investment rates and create job opportunitiesNew.
His Excellency also noted the efforts of Arab central banks in giving the necessary importance to issues of enhancing inclusion “Financial within the framework of the economic policies adopted” and supporting them to benefit from modern financial technologies in providing Financial services.
Finally, His Excellency thanked the central banks, financial and banking institutions, and unions
And banking associations in Arab countries for their efforts in launching activities and events on the occasion of Arab Inclusion Day “Financial” and the importance it represents in achieving the desired purpose of this occasion. https://cbi.iq/news/view/2556
To view, click here https://cbi.iq/static/uploads/up/file-171430627871664.pdf
Provoking Points To Ponder on Failures and Mistakes
Apparent failure may hold in its rough shell the germs of a success that will blossom in time, and bear fruit throughout eternity.- Frances Ellen Watkins Harper
The causes of mistakes are “I didn’t know”; “I didn’t think”; and “I didn’t care.”- Henry H. Buckley
Failures are divided into two classes: those who thought and never did, and those who did and never thought.- John Charles Salak
A failure establishes only this, that our determination to succeed was not strong enough.- Christian Bovee
Self-distrust is the cause of most of our failures. They are the weakest, however strong, who have no faith in themselves or their own powers.- Christian Bovee
Defeat is a thing of weariness, of incoherence, of boredom.- Antoine de Saint-Exupery
http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html
