Iraq buys nearly 52 tons of gold in three years
The World Gold Council announced on Saturday that Iraq has bought about 52 tons of gold during the past three years.
According to the latest schedule published in September by the Council and reviewed by Shafaq News Agency, “Iraq bought 51.9 tons of gold during the previous years from 2022 until September 2024.”
He added, “Iraq bought 33.9 tons of gold in 2022, 12.3 tons in 2023, and 5.7 tons in 2024, including 3.1 tons in February and 2.6 tons in May.”
The World Gold Council is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.
Clare: Al-Sudani: Iraq today is on the right path
9/14/2024
Prime Minister Mohammed Shia Al-Sudani, during a dialogue seminar by the Anki Foundation for Studies and Research on the path to development, in the presence of Mr. Al-Hakim:
Iraq depends on oil as the only source to cover its expenses, which have begun to increase.
The development path needs more study and clarification.
We must think properly to activate sectors that support oil.
– There must be projects that suit Iraq to be a focus of development.
We have started establishing and implementing the development road project, which will transform Iraq into an open country.
We have unnatural materials that have not been exploited in industries and the strategic location of Iraq.
We are in the planning, design and other studies phase and we have approached the World Bank to begin implementing the development road from Basra to Mosul.
Capital finds opportunity in Iraq amid security and political stability
– Many capitals want to invest in Iraq
Iraq today is on the right track
Clare: Al-Alaq: The number of digital banks in Iraq will be greater than neighboring countries
The Governor of the Central Bank of Iraq expected, on Saturday, that the number of digital banks in the country would increase and be larger than in neighboring countries.
This came during his hosting of the activities of the Electronic Payment Conference towards Financial Stability in Iraq, which was launched in the capital, Baghdad, and was attended by a Shafaq News Agency correspondent.
Al-Alaq said during the hosting that “the experience of digital banks in the world is an experience that indicates a shift towards an approach that is completely consistent with technical developments and employing them in a direction that serves various operations.”
He added, “Digital banks are widely spread in the world, and the volume of financial transactions for these banks has reached about 5 trillion annually, and it is hoped that the number will reach about 7 trillion dollars by the year 2027.”
Al-Alaq also pointed out that this is an important indicator that calls on us to stimulate this aspect, focus on it and push it forward, adding that “Iraq will be one of the countries that will advance in digital banks that occupy an important space, and the number of these banks in Iraq will be greater than in neighboring countries.”
He continued by saying, “Before launching the licensing round for digital banks, the Central Bank conducted in-depth studies and reviewed the experiences of other countries extensively until we set the necessary rules and controls to license this type of bank.”
The Central Bank Governor concluded his speech by saying, “We were surprised that the number of applicants to establish digital banks exceeded 70 banks,” stressing that “the Central Bank is studying the applications to establish digital banks, sorting them out, and selecting a limited number of them.”
