A parliamentarian identifies 3 steps to end the “electricity war” in Iraq
A parliamentarian identifies 3 steps to end the electricity war in IraqInformation / Baghdad..
On Saturday, a member of the House of Representatives, Salem Al-Anbuki, identified three steps to end the electricity war in Iraq, while stressing that the sanctions were not a deterrent.
Al-Anbaki said in an interview with Al-Maalouma, “The country witnesses from time to time a series of attacks targeting electricity transmission lines, whether in Diyala or elsewhere, which leads to crises in energy supplies.”
He added, “The targeting operations are not chaotic and are taking place on important lines in multiple regions, which raises many question marks.”
The member of the House of Representatives explained, “There are three steps to end the electricity war, including: revealing the identity of those behind it and exposing those supporting the sabotage operations, in addition to doubling the penalties further to be more stringent with actions that are essentially terrorist, because they lead to sabotaging important axes in the country’s institutions.” “.
He pointed out that “power interests, internal and external goals, and terrorist acts are all the headlines behind the electricity war in Iraq,” stressing “the necessity of reconsidering field plans and adopting modern frameworks for monitoring and follow-up.”
During 2023, transportation lines witnessed more than 10 direct targeting operations, especially in Diyala and Salah al-Din.
Good news, Iraq and the US hold financial reform discussions in Baghdad.
This little meeting not reported in the mainstream news tells us the US may be ready to help Iraq move towards significant growth in its currency. At least we hope that's what this meeting is pointing to.
The Iraq prime minister discussed the cooperation between financial institutions in Iraq and the US Treasury Department with the US Assistant of the Secretary of the Treasury Department, Elizabeth Rosenberg.
The meeting addressed measures the Iraqi government took to reduce corruption. The Prim Minister indicated the government is advancing the banking sector reforms which are crucial for the economy's growth by adhering to international standards...
Rosenberg applauded the Iraqi government's outstanding efforts in implementing financial and banking reforms which would support Iraq's attempts to...expand its economy.
Al-Sudani heads to New York for United Nations General Assembly
Shafaq News / Iraqi Prime Minister Mohammed Shia Al-Sudani departed the capital, Baghdad, en route to New York to participate in the 78th session of the United Nations General Assembly.
This was announced in a brief statement from his media office. The Iraqi delegation to the UN General Assembly will be led by Prime Minister Al-Sudani and include Foreign Minister Fuad Hussein. They are expected to meet with several world leaders during their visit according to Foreign Ministry's spokesman Ahmed al-Sahhaf.
Foreign Minister Hussein arrived in New York last Friday to prepare for the Prime Minister's visit and the participation of the Iraqi delegation in the General Assembly. The assembly, scheduled to begin on the coming Tuesday, takes place amid significant geopolitical tensions, exacerbated by the conflict in Ukraine. It witnesses a rivalry between Russia and China on one side and the United States and Europe on the other to gain the support of non-aligned nations.
The agenda for this year's meetings prominently features concerns in the Southern Hemisphere, reflecting the increased interest of Western nations in securing the support of developing countries in their efforts to isolate Russia.
High-level meetings during the General Assembly will focus on the priorities of developing nations in Africa, Latin America, and Asia, including topics such as climate, health, development financing, and the alignment of "Sustainable Development Goals" on the right track.
Financial Innovation In Iraq: Shifting To A Cashless Payments Landscape
Mario Macari Economy News – Baghdad The business sector around the world is witnessing a real revolution as a result of the adoption of digital payment systems. This heralds many transformations in many countries such as Iraq, where monetary solutions have always dominated the financial system. Although Iraq has one of the lowest rates of access to financial services in the world, with only 19% of its adult population having bank accounts, the country has taken important steps to achieve financial inclusion[1].
The Central Bank of Iraq launched several initiatives in its second strategic plan for the years 2021-2023 in order to confront this challenge. We have witnessed the implementation of many important reforms, such as supporting digital financial services, mandating the use of direct points of sale in financial transactions, reducing commercial fees, imposing linking bank accounts, and providing incentives to encourage the use of direct points of sale.
These initiatives, as a whole, aim to accelerate the pace of transition to non-cash payments so that companies and individuals can achieve optimal benefits from them.
Given their ability to influence consumer purchasing habits, merchants are critical players in this trend. By shifting their payment models to digital platforms, merchants can transform their business as well as contribute to a significant change in the overall economy. Thanks to the availability of safety and transparency, merchants can encourage the adoption of financial reforms among the population, by adopting direct point of sale systems and adopting digital culture.
Unfortunately, many merchants face many challenges in terms of lack of awareness and financial education when creating and using digital payment systems. The lack of proper training in accepting these systems and financial education hinders merchants and consumers alike, often confining them to the traditional realm of cash transactions.
Perhaps the prosperity of the digital payment system will greatly help increase financial inclusion and enhance economic growth in emerging markets such as Iraq. Digital transactions are fast and easy to track, while giving merchants relevant insights into their future sales and budgets. These payments involve less risk compared to cash transactions. With the right infrastructure and local payment service providers, digital payments can provide merchants with an optimal platform to gradually grow their business.
The Iraqi government is fully aware of the importance of digital transformation to enhance viable and prosperous economies. Recently issued policies by the Central Bank of Iraq and the government to support digital payments are scheduled to be implemented this year.
Moreover, according to Statista, a company specialized in market studies and statistics, the total value of transactions in the digital payments market is expected to reach $10 billion in 2023[2].
There are many digital payment platforms operating in the country, as the Central Bank of Iraq has issued 17 licenses of this type so far[3]. FinTech companies are collaborating with telecommunications service providers in Iraq to provide consumers with a seamless and secure digital experience to facilitate digital payments.
Visa collaborated with its partners last year to launch a variety of payment products to serve Iraq’s underbanked population.
The future seems to be increasingly moving towards cashless solutions, as technology continues to penetrate every aspect of our lives. As the world continues to evolve to keep pace with the digital age, financial education and the implementation of the strictest digital security measures will play a critical role in facilitating the transition to a cashless economy more smoothly.
This transformation promises to increase the efficiency of the financial system and provide comprehensive access to financial services, especially for residents who do not have bank accounts or have accounts but do not use them.
There is no doubt that enhancing financial culture plays an essential role in completing this transformation and ensuring that individuals fully benefit from the benefits of digital financial solutions. To support financial education efforts in the market, we have selected two of our partners to collaborate with in order to provide content that can help build knowledge and help individuals improve their understanding of financial concepts and services.
These partnerships will play a pivotal role in developing a comprehensive digital payments system that enables the Iraqi economy to flourish and develop in the digital age. Written by Mario Macari, Visa’s Levant General Manager Added 09/17/2023 – https://economy-news.net/content.php?id=36388
[CBI put out a RFP-Request for Proposal tender] SHANGDODDLE: It appears to be the government of Iraq is seeking contractor bids for the purchase of machines used to count, sort and packet currency. IMO that would be for the new currency in the lower denominations in the new small category notes... FRANK: This is fantastic. Then an article comes out and says, "This tender will be accomplished by October 22, 2023". October 22nd is simply the time limit parameters of this tender...You think it's going to take until October the 22nd? No.
Why would Iran be at the CBI governor's office dealing with international issues? I think you know why. They can't steal anymore. The floor is spotless. It's dinner time. Something is about to happen.
Iraq boots-on-the-ground report] FIREFLY: We see Austria is back here in Iraq. They are reopening their embassy here. Their ambassador says due to the security and stability here it leads them to trust and reopen. FRANK: Hey, Sudani how clean is the floor of the CBI bro!?
The CBI had a meeting with the United States Treasury...The CBI got their butts chewed out in front of Sudani. In less than 24 hours all the nonsense they were complaining about has been wiped out...
You have Iraq, Iran, the CBI official, US Treasury all in one room that doesn't make any senseunless you have have interest in changing the exchange rate and adding value to the Iraqi currency because there's security and stability in Iraq and it's all because Iran finally conceded, 'we give up'.
[Iraq boots-on-the-ground report] FIREFLY: USA Treasury was threatening us about sanctions on more banks here if not addressed on misuse of the American dollar that the US Treasury is seeing all over Iraq. I don't know what they're talking about, we can't find the dollar anywhere. FRANK: Don't let that bother you. The US Treasury is simply trying to get Sudani and the board of directors to move.