AJ
Correct. See attached
from Third Strategic Plan. It specifically SAID the ability to issue medium- and long-term securities as an objective.The Kurdistan Region launches January salaries through “Hesbab”
Economy News _ Baghdad
The “Hesbi” platform announced on Thursday the start of the payment of January salaries to Kurdistan regional employees through the digital system.
The team responsible for the “Hesabi” platform confirmed in a statement seen by “Economy News” that January salaries will be distributed digitally today, in all governorates of the Kurdistan Region, where salaries will be transferred to the bank accounts of beneficiaries as of 8:00 am.
The statement explained that the number of beneficiaries of the disbursement process through “Hasbi” reached 275,000 employees, including 216,500 civil servants and 56,700 from the Peshmerga forces, and they will be able to withdraw their salaries through more than 550 ATMs distributed in more than 200 different locations throughout the region.
The platform added that the number of registrants in the “Hasabi” project so far has reached 720,000 employees out of a total of about one million employees receiving their salaries from the Kurdistan Regional Government, and 370,000 bank cards have been distributed to the beneficiaries of the service.
In this context, the Ministry of Finance and Economy in the Kurdistan Region announced the disbursement of January salaries, which were deposited in the bank accounts of the beneficiaries of the “Hesab” project.
The statement added that technical cadres are waiting for employees to help them withdraw their funds.
This measure comes within the KRG’s plan to promote digital transformation in payroll operations, which contributes to reducing dependence on cash, increasing transparency, and facilitating withdrawals for beneficiaries, in light of a broader trend towards switching to digital banking services.
The Kurdistan Regional Government launched the “Hasabi” project as part of its plan to develop the banking infrastructure in the region, with the aim of improving salary management and facilitating financial transactions for employees. The project aims to reduce the crowds of traditional payroll distribution centers and enhance the use of electronic banking services, as part of a broader trend towards digitizing government operations in the region.
https://economy-news.net/content.php?id=52567
MILITIAMAN CC HIGHLIGHTS NOTES
In this video, the Militia Man discusses recent developments in Iraq related to governance, the economy, and judicial matters. He emphasizes the importance of historical context, particularly regarding Iraq’s legal frameworks and the role of institutions in shaping the country’s future.
The speaker highlights the commitment of Iraqi officials to uphold democratic principles while navigating challenges presented by objections to proposed laws. A significant focus is placed on the Central Bank of Iraq’s meetings with French representatives, underscoring the potential for economic collaboration and the importance of integrating Iraq into the global financial system.
The video concludes with a call to action for viewers to engage with the content and the community.
📜 Commitment to Judicial Decisions: The Iraqi Parliament reiterates its adherence to federal court rulings, emphasizing democratic principles.
💼 Focus on Citizens’ Welfare: The Central Bank of Iraq prioritizes initiatives aimed at benefiting the Iraqi populace, especially regarding economic stability.
🤝 International Relations with France: The Central Bank’s discussions with French ambassadors highlight opportunities for investment and economic partnerships.
📊 Economic Diversification: Efforts are underway to diversify Iraq’s economy beyond oil, with new initiatives for small and medium enterprises.
📈 Digitization and Financial Inclusion: The Central Bank’s movement towards electronic payments and financial inclusion signifies a modernization of Iraq’s economy.
🏛️ Historical Debt Relief: A look back at the Paris Club agreement illustrates Iraq’s historical debt issues and the significance of international support.
🌍 Global Economic Integration: Iraq is making strides to comply with international financial standards, potentially paving the way for currency convertibility and trade.
📜 Judicial Authority as a Stabilizing Force: The commitment of Iraqi officials to abide by federal court decisions reflects a growing understanding of the rule of law, which is crucial for the establishment of a stable democratic environment. This judicial authority acts as a safeguard against arbitrary governance and promotes trust in public institutions among citizens.
💼 Economic Focus on Citizen Welfare: The discussions held by the Central Bank emphasize a citizen-centric approach to economic policy. By focusing on the welfare of Iraqi citizens, it signals a shift towards responsible governance that seeks to address the immediate needs of the population, fostering a more inclusive economic environment.
🤝 Potential for Economic Growth through International Partnerships: The meeting between the Central Bank of Iraq and the French delegation underscores the importance of international cooperation in reviving Iraq’s economy. By attracting foreign investment, Iraq can leverage external expertise and resources, facilitating economic growth and infrastructure development.
📊 Small and Medium Enterprises as Economic Backbones: The emphasis on small and medium enterprises (SMEs) as drivers of economic growth is noteworthy. SMEs are vital for job creation and economic diversification, and their promotion is essential for building a robust economy that is less reliant on oil revenues.
📈 Digitization as a Path to Modernization: The Central Bank’s initiatives to digitize the economy and promote electronic payments are crucial steps towards modernizing Iraq’s financial system. This shift not only enhances efficiency but also encourages greater financial inclusion, allowing more citizens to participate in the economy.
🏛️ Understanding Historical Context for Future Growth: The historical context provided by the Militia Man regarding Iraq’s debt relief through the Paris Club agreement illustrates the long-standing challenges faced by the country. Acknowledging this history is essential for understanding the current economic landscape and the importance of ongoing reforms.
🌍 Steps Towards Global Economic Integration: The focus on compliance with international financial practices indicates that Iraq is positioning itself for greater participation in the global economy. By adhering to IMF requirements and enhancing currency convertibility, Iraq can improve its trade relationships and attract more foreign investment.
In summary, the video provides a comprehensive analysis of the current state of Iraq’s governance and economy, shedding light on the ongoing reforms and the commitment of officials to fostering a stable and prosperous future for the Iraqi people. The insights drawn from the discussions highlight the importance of historical context, the role of institutions, and the potential for international collaboration in driving economic growth.
Iraq Launches Comprehensive Banking Reform Initiative
The Iraqi government, in collaboration with the Central Bank of Iraq (CBI), has launched a strategic initiative to modernise the country’s banking sector.
The reforms aim to enhance banking standards, strengthen financial resilience, and improve Iraq’s integration with global financial systems.
Key pillars of the initiative include:
The initiative is part of a broader strategy developed by the CBI in partnership with global consulting firm Oliver Wyman.
Reforms in state-owned banks will complement this strategy, marking a major transformation in Iraq’s financial sector. Further implementation details will be announced in due course.
(Source: Media Office of the Prime Minister)
https://www.iraq-businessnews.com/?p=229963
Frank26
Even if the budget comes out at the old rate, don't panic.
Sudani knows what he's doing. The longer he can hide this form parliament the better...All the information about the new exchange rate has not been released yet, but within...13 days this budget will expose itself.
It has no choice...This budget has no choice but to show its true colors in order for it to come to life...A new exchange rate cannot wait much longer.
Kurdistan is ecstatic. Kurdistan is happy. They passed the amendments, the parts...of the budget...
You now have oil flowing from Kurdistan to Baghdad and the price they accepted tells me there's a new exchange rate. How can all that be at 1310? Eventually the budget will reveal the new exchange rate.
The Ministry Of Planning Discusses With The World Bank The Preparation Of A Roadmap For Building Human Capital In Iraq
Wednesday 05 February 2025 | Economic Number of readings: 150 Baghdad / NINA / The Ministry of Planning held a joint meeting with the World Bank on Wednesday, during which they discussed joint cooperation in the field of preparing a roadmap for building human capital in Iraq.
A statement by the ministry stated that "Undersecretary of the Ministry Maher Hammad Johan headed the Iraqi side, while the World Bank team was headed by the Regional Director for Human Development in the Middle East and North Africa, Fadia Saada.
Johan explained: "The importance of the human capital building project comes from its contribution to achieving development goals," stressing Iraq's endeavor to harness efforts towards improving investment in human capital, keeping pace with global trends,
and responding to local needs for human development,
in addition to identifying investment priorities and directing them towards making fundamental changes at the level of policies, plans, programs and all government interventions, and in effective partnerships with the international community, the local community and the private sector," calling for more cooperation with the World Bank in this field.
For her part, the Regional Director for Human Development in the Middle East and North Africa, Fadia Saadeh, said: “Investing in human capital is essential for the future of the country, and Iraq has the ability to harness its young population as an engine of economic growth,” indicating: “Bridging the service delivery gaps is in education and health care, expanding access to social protection, and creating job opportunities, especially for women and youth.”
She added: “If reforms are implemented effectively, Iraq can transform its current challenges into opportunities, and ensure a more equitable and prosperous future for all its citizens.”
The meeting witnessed the presentation of three presentations, the first of which was on the priorities and programs of the National Development Plan (2024-2028), presented by the Director General of the Department of Economic and Financial Policies, Sabah Jundi Mansour, the second presentation was on the recommendations of the first national conference on human capital in Iraq, and the next steps, presented by the Director General of Human Development, Dr. Maha Abdul Karim Al-Rawi, and the last presentation was from the World Bank team on the future outlook for human capital projects in Iraq. /End8 https://ninanews.com/Website/News/Details?key=1183964
ARIEL
The Final Act: Closing Out A Chapter
You know I find it quite peculiar as to why Donald Trump said if Iran were to a••a••inate him he left instructions on how to remove them off the map. I wonder why he would put this out there in the ethers?
Does he anticipate that such an act will be carried out if the revaluation of the Iraqi Dinar happens which by default will strip Iran & Israel of their power over Baghdad?
Because many are clueless as to how Israel benefitted from the Iraq war. The removal of Saddam Hussein from power eliminated a significant threat to Israel.
Saddam had been a vocal adversary of Israel, launching Scud missiles against the country during the Gulf War and consistently supporting anti-Israeli rhetoric and actions.
By deposing Saddam, the U.S.-led coalition effectively neutralized a hostile regime that had long been a thorn in Israel's side. Furthermore, the post-invasion period allowed Israel to capitalize on regional realignments, promoting its economic interests in Iraq and strengthening its geopolitical position in the Middle East.
So this currency revaluation is much more critical than people realize. I told you all before this will be equivalent to stepping into an entire different version of earth. So prepare to have your mind blown over the course of this year for many things.
Finance Minister To Parliamentary Delegation: The Ministry Is Committed To Implementing Reforms To Boost Non-Oil Revenues
Wednesday 05 February 2025 | Economic Number of readings: 23 Baghdad / NINA / Minister of Finance Taif Sami affirmed the ministry's commitment to implementing financial reforms that would enhance non-oil revenues and achieve financial sustainability.
A statement by the Ministry of Finance stated: "Minister Taif Sami received, today, Wednesday, at the ministry's headquarters, a number of members of the Council of Representatives, and during the meeting, their requests and those of citizens were listened to,
in addition to discussing the mechanisms for implementing the general budget, following up on the allocations of service and development projects, in addition to discussing ways to support productive sectors and provide the necessary resources to improve the level of services provided to citizens."
The minister affirmed, according to the statement, the ministry's commitment to implementing financial reforms that would enhance non-oil revenues and achieve financial sustainability in accordance with approved government programs.
The representatives praised the ministry's efforts in managing the financial file, and stressed the importance of enhancing joint cooperation to ensure the achievement of economic goals.
The parliamentary delegation included the following MPs: Manal Al-Maslamawi, Rafiq Al-Salihi, Luqman Al-Rashidi, Mudhar Al-Karawi, Hassan Al-Masoudi, Fatima Al-Hawi, Ala Al-Nashi, Sarah Al-Dulaimi, Mona Al-Jubouri, Faisal Al-Naili, Wafaa Al-Shammari, Suhaila Al-Sultani, Mustafa Al-Karawi, Amal Al-Nasiri, Osama Al-Badri, Ahmed Rashid Salmani, Basem Nghamish Al-Gharbawi, Mahasin Al-Dulaimi, and Hassan Al-Asadi. / End https://ninanews.com/Website/News/Details?key=1184007
Mnt Goat
Article: "PARLIAMENTARY FINANCE COMMITTEE “EXPLODES A SURPRISE” REGARDING THE COST OF EXTRACTING OIL FROM THE KURDISTAN REGION"
Kurdistan has always wanted a bigger % of the oil proceeds as the % now allocated is not enough.
The cost of extraction varies by oil well and this has been the reason all along why the Kurds are illegally selling their oil outside of the pumped metered system.
This can easily be remedied but Baghdad has to take the time to listen and then take actions to reason with the Kurds on this matter.
They are going to work it out as the budget amendments have been passed.
Finance On Restructuring Of Rafidain, Rashid And Insurance Companies: A Fundamental Step
Banks Economy News – Baghdad Today, Wednesday, Finance Minister Taif Sami discussed following up on the procedures for restructuring Rafidain and Rashid Banks and insurance companies.
The ministry said in a statement that "Sami held an expanded meeting with the head of the Insurance Bureau, directors of government banks and insurance companies, and the international auditing and oversight firm Ernst & Young, to follow up on the measures taken to implement the restructuring of insurance companies and government banks, most notably Rafidain and Rashid Banks."
According to the statement, Sami pointed out that "the restructuring represents a fundamental step to enhance financial stability and improve the efficiency of government banks in accordance with international standards," noting "the importance of developing banking systems, enhancing internal control, and implementing specialized training programs for banking cadres to ensure the provision of advanced financial services."
Sami added, "The strategic plan will include introducing modern banking technologies, such as electronic payment, enhancing transparency, improving capital management and completing the comprehensive banking system, in addition to cooperating with international financial institutions and benefiting from global expertise, in addition to setting specific time frames for implementing modernization processes, which will raise the efficiency of government banks and support the national economy."
The Prime Minister's Office announced yesterday, Tuesday, the launch of an initiative to reform the banking system, in cooperation with the Central Bank of Iraq, consisting of 4 main points, and it comes in partnership with the global management consulting company (Oliver Wyman). https://economy-news.net/content.php?id=52540
