Rafidain announces the implementation of the electronic system in 48 branches in Baghdad and the governorates
Rafidain Bank announced today, Thursday, the implementation of the electronic banking system in 48 branches in Baghdad and the governorates.
A statement by the bank received by Al-Maalouma Agency stated that “48 branches have been operated so far within the comprehensive banking system, which reflects its commitment to updating its services according to the highest international standards.”
He added, “This development comes as part of the bank’s strategy to improve customer experience across all its branches, and facilitate access to integrated, fast and secure banking services.”
He explained that “the comprehensive banking system represents a qualitative shift in the bank’s path, as it supports digital transformation and enhances the bank’s ability to efficiently meet the needs of a wide range of customers.”
He explained that “this continuous expansion will include more branches in the future, as part of a well-thought-out plan aimed at providing a modern banking experience that contributes to supporting the national economy and meeting the needs of society with distinguished and comprehensive banking services.”
Parliamentary calls to reconsider calculating the price of a barrel of oil in the 2025 budget
The State Support Parliamentary Bloc called, on Thursday, for the necessity of reconsidering the calculation of the price of a barrel of oil in next year’s budget.
Bloc member Mohammed Al-Ziyadi said in a statement to Al-Maalouma Agency, “Stopping the war in Ukraine will return oil prices to $50 per barrel, so the government must reconsider calculating the price of a barrel of oil in the budget for next year 2025.”
He added, “Reconsidering the calculation of the price of a barrel in the general budget is not enough, but rather it is necessary to take important measures to reduce government spending and work to activate non-oil sources of revenue and accelerate the completion of governance in all state institutions, especially taxes and collected funds to eradicate corruption.”
The State Administration Coalition held a meeting yesterday, Wednesday, in the presence of Prime Minister Mohammed Shia al-Sudani, where a number of files were discussed, including the emphasis on supporting the step of amending one of the articles of the federal general budget related to oil.
Iraqi Parliament extends its legislative term until the ninth of next month
The Iraqi Parliament decided today, Thursday, to extend the legislative session for 30 days, starting from November 9 of this month.
This comes after the member of the Parliamentary Legal Committee, Mohammed Al-Khafaji, revealed to Shafaq News Agency that the current legislative session of the Council of Representatives ends on the 9th of this month, and that its extension for another month is subject to Article 58 of the Iraqi Constitution.
He added that according to this article, the legislative term can be extended at the request of the President of the Republic, the Prime Minister, the Speaker of the House of Representatives, or 50 members of parliament, provided that the extension is approved by a vote of the majority of the members of the House.
Al-Khafaji explained that the extension comes to organize the work of Parliament and approve pending laws, as the past period witnessed repeated postponements in the Council’s sessions and the incomplete agenda.
He pointed out that the extension will provide an additional opportunity for the government to submit the draft general budget law for 2025, which is supposed to be submitted before the end of this year. He stressed the importance of the government taking advantage of this time to avoid the delay witnessed in the budget this year.
Al-Sudani: We faced major challenges in implementing the “Greater Iraq” project
Prime Minister Mohammed Shia al-Sudani stated on Thursday that his government faced “major challenges” in starting to implement the vital development road project, considering the Grand Faw Port project to transform the historical geographical situation of Iraq.
This came in his speech during the ceremony of receiving the five berths of the Grand Faw Port in Basra Governorate from the Korean company implementing the work.
In his speech, Al-Sudani described the Grand Faw Port project as “Iraq’s most prominent project and the people’s project,” announcing at the same time the receipt of the five docks that represent the backbone of the port project in its first phase.
He added that with the completion of the basic and important phase, the first phase will be completed next year according to the previous timetables. The process of docking of huge commercial ships on the port’s docks has also taken place, so that this project will be included in the contract and paths of global trade and transport routes that pass through the Middle East region, which is of great strategic importance to global trade.
Al-Sudani added, “Through this dream port that has become a reality, Iraq’s historical geographical situation is transformed from a country in need of other people’s ports to a maritime country overlooking the Gulf, which is the most prominent water basin in the world where energy, trade, communication and commercial exchange activities are concentrated in all their forms.”
He stressed that the federal government, which he heads, is committed to completing the Grand Faw Port project as a gateway to Iraq’s largest project, the Development Road, noting that the Development Road project represents the backbone of the government’s vision to maximize non-oil revenues, and today we face major challenges in implementing it.
For his part, Minister of Transport Razzaq Muhaibis Al-Saadawi said in a speech during the same ceremony: “The Faw Port and the development road are the gateway to economic growth in Iraq and the region.”
In April 2024, Iraq, Turkey, the UAE, and Qatar signed a quadripartite agreement on the Iraq Development Road Project, under the auspices of Iraqi Prime Minister Mohammed Shia al-Sudani and Turkish President Recep Tayyip Erdogan.
The agreement aims to enhance cooperation regarding the Iraq Strategic Development Path project, as the four countries will work to establish the necessary frameworks for implementing the project, according to a statement issued by the Prime Minister’s Office.
The strategic project of the development road is expected to contribute to stimulating economic growth and strengthening regional and international cooperation relations, as it will achieve economic integration and sustainability between the East and the West.
The project will also increase international trade, facilitate the movement of goods, provide a new competitive transportation route, and enhance regional economic prosperity.
It is worth noting that the “Development Road” project is a land and railway road extending from Iraq to Turkey and its ports. The length of the road and railway is 1,200 kilometers inside Iraq, and it aims primarily to transport goods between Europe and the Gulf countries.
The project’s investment budget amounts to about 17 billion US dollars, of which 6.5 billion is for the expressway, and 10.5 billion for the electric train. It will be completed in 3 phases, the first ending in 2028, the second in 2033, and the third in 2050.
The project is expected to provide about 100,000 job opportunities in the first phase, and one million job opportunities after its completion.
