Iraqi News Iraqi News Highlights Saturday Evening 5-27-23

Iraqi News Highlights Saturday Evening 5-27-23


Tlm724 Administrator Bondlady’s Corner


Handal: We Seek To Expand Banking And Financial Relations With The International And Regional Environment


Economy News-Baghdad   The head of the Iraqi Private Banks Association, Wadih al-Handal, confirmed that the association seeks to expand banking and financial relations between Iraq and its regional and international surroundings.


Al-Handal said in his speech during the annual banking conference, which was attended by “Al-Iqtisad News”, that “digital transformation is an important matter at the level of all sectors in our dear country, Iraq, and linking digital transformation with electronic payment, which takes great resonance during this period, especially with government plans and the efforts of the Central Bank aimed at achieving this transformation and benefits.”


The major benefits that it brings to all aspects of the citizen’s life and the economic and financial cycle, and the related need to develop human capabilities, expertise, systems, and the application of the highest standards of information security and infrastructure that can be expanded and modernized.


He added that the conference “is concerned with expanding banking and financial relations with the international and regional environment to form partnerships and alliances that open horizons for the flow of foreign investments to enter Iraq within controls that rely on transparency and flexibility in completing and accelerating work, and on the other hand we seek to review the obstacles facing domestic and foreign investment in the banking and financial sector.”


In terms of market risks, legislation and regulations,” stressing the importance of “the government approach in relation to reforming the banking system through restructuring and mechanization of government banks and stimulating, developing and enabling private banks to support investment and development.”


Al-Handal continued, “We believe that the basis of development and growth is the human factor, and for that we always strive to develop local skills and expertise in various specialties to include them in the labor market and provide decent job opportunities for young people that guarantee them a decent life and benefit the various business sectors. We will announce a pioneering project within the work of this conference.” about this “.


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.


Views 176  Added 05/27/2023 –


The Finance Committee Discusses The Oil Sector File With The Parliamentary Oil And Gas Committee


Saturday 27 May 2023 16:04 | Economical Number of readings: 136   Baghdad / NINA / – The Finance Committee, chaired by Atwan Al-Atwani, and in the presence of a number of its members, hosted today the Oil, Gas and Natural Resources Committee, to discuss the proposals submitted regarding the oil sector.


At the outset of the hosting, Al-Atwani said, according to the statement of the Parliamentary Media Department: “The Finance Committee takes into account all the observations received from the parliamentary committees that reflect positively on the citizens and the country in general, adding that the committee entered into precise details about studying the paragraphs and items of the budget, with the aim of reducing spending.” And increase non-oil revenues, explaining that the committee is about to complete the completion of the budget law and is awaiting setting a date for a vote on it in the House of Representatives.


Heibet al-Halbousi, Chairman of the Oil Committee, also appreciated the continued efforts of the Finance Committee to ripen the budget law and its keenness to complete it fully, while listening to the details related to the oil field and the problems about the projects of the Ministry of Oil, oil exports, licensing round contracts, and the need to secure the necessary sums for the continuation of the work of oil companies.


The Parliamentary Finance and Oil Committees discussed the article related to the issue of collecting fees from the proceeds of selling oil derivatives, in addition to the work of oil refinery companies and the costs of liquidation and export in order to increase the oil revenues that supply the state treasury./ End


The Stability Of The Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Exchange


Economy  Saturday, May 27, 2023 Baghdad / The National News Center   The exchange rates of the US dollar against the Iraqi dinar stabilized today, Thursday, on the main stock exchange in the capital, Baghdad.


The correspondent of the National News Center said, “The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded an exchange rate of 146,000 dinars, compared to 100 dollars, while the prices this morning were 146,200 dinars.”


He added, “The buying and selling prices have stabilized in the exchange shops in the local markets in Baghdad, where the selling price reached 146,500 dinars, while the purchase prices amounted to 145,500 dinars per 100 dollars.”


Al-Alaq Announces The Launch Of 4 Projects, Including The Establishment Of A Financial Center In Baghdad


Economy   Saturday, May 27, 2023 Baghdad / National News Center Today, Saturday, the Governor of the Central Bank, Ali Al-Alaq, announced the launch of four projects, including the establishment of a financial center in Baghdad.


Al-Alaq said at the annual banking conference, which was attended by the National News Center, that “we announce the launch of four projects, which are the reform of government banks, the establishment of a pioneer bank to support microcredit, the establishment of a loan guarantee company, and the establishment of a financial center in Baghdad.”


An Expert Details The Importance Of The Path Of Development And Its Economic Returns To Iraq


May 25 09:16    Information / Baghdad…Economic expert Nasser Al-Kinani confirmed, on Thursday, the possibility of establishing the Silk Road without spending any money, pointing to the possibility of charging the costs of establishing the road to the beneficiary countries, whose goods will pass through it.  Al-Kinani told Al-Maalouma,


“The (Silk) Development Road is a very large project linked to the port of Faw and economic development related to factories and housing projects that provides Iraq with large profits and revenues.”


He added, “The Silk Road, despite its great importance to Iraq, the idea of making the country a transit that costs 16 billion dinars to establish a railway is not a good idea.”


He pointed out that “Iraq can not bear the costs of the road by making the implementation of the countries whose goods will pass through Iraq, in addition to that the country will benefit from such a project in building factories and stimulating international trade.”


And he indicated that  “Iraq can benefit from the amount of 16 billion dollars allocated for the construction of the road, especially since there are those who benefit from the road and can pay this amount,” explaining that “the amount allocated for the project is 500 billion dollars, and China can complete the project without incurring Iraq these costs.


It is noteworthy that the road will be completed in 2028, and according to the Prime Minister’s advisory office, it will provide 100,000 job opportunities and generate revenues of $4 billion annually. ended 25 nخبير-يفصل-أهمية-طريق-التنمية-ومردوداته-الاقتصادية-على-العراق


From The Port Of Al-Faw To Turkey.. Al-Sudani’s Office Publishes The Details Of The Development Road Conference


Today   Information / Baghdad..  The media office of the Prime Minister clarified the details of the Development Road Conference, which was hosted by the capital, Baghdad, this morning, Saturday, stressing that the road connects southern Iraq with its north, passing through to Europe.


In a statement received by the office, the office said, “The prime minister opened the conference and stressed the present and future importance of the development path project, and the interdependence of the reasons for economic integration of the countries of the region with the interests and partnerships that the path path will enhance, and all projects related to it.”



The participating delegations discussed “the process of initiating implementation steps, and transforming the understandings between the leaders of countries into a road map that witnesses the start of development projects related to the path of development.”


They also discussed “the importance of the project for the countries of the region, regional partnerships and ways to consolidate them, access to economic integration among the participating countries, and the establishment of economic development platforms that enhance the ability of the peoples of the region to face economic challenges.”


The conference witnessed “a comprehensive review of the multimedia methods included in the project, and the capabilities it offers in regional connectivity, in addition to the infrastructure that diversifies the transport, industry, agriculture and renewable energy sectors, and the investments that will be made available in airports, express trains and land roads.”


Likewise, “the path that starts from the port of Faw and its integration with the region’s ports all the way to the Turkish border was reviewed, feasibility studies, the results of work with advisory bodies, the implementation timetable, the financial returns it provides, and data related to all its details.”


The conference concluded with the formation of technical committees to develop a full vision of the nature and extent of the participation of brotherly and friendly countries in this vital strategic project.


The capital, Baghdad, hosted the Development Road Conference, with the participation of ministers of transport or their representatives from countries;


The Kingdom of Saudi Arabia, the


Islamic Republic of Iran, the


Republic of Turkey, the


Hashemite Kingdom of Jordan, the


Syrian Arab Republic, the


State of the United Arab Emirates, the


State of Kuwait, the


State of Qatar, and the


Sultanate of Oman, in addition to representatives of the


European Union and the


World Bank. finished/25 hمن-ميناء-الفاو-الى-تركيا-مكتب-السوداني-ينشر-تفاصيل-مؤتمر-طري




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