Shafaq News / Iraqi Prime Minister, Mohammad Shia Al-Sudani, presided over a meeting on Sunday to deliberate on banking reform measures. He directed the simplification of all banking procedures and called for a proposed list of facilitations to be prepared within a week.
.In a statement issued by Al-Sudani's media office, it was stated that, "As part of his follow-up on the implementation plan for financial and administrative reforms in both the financial and banking sectors, Prime Minister Mohammad Shiaa Al-Sudani chaired a meeting this evening.
The meeting was attended by the Central Bank Governor and directors of government banks. During the meeting, discussions were held on the procedures and mechanisms adopted to achieve banking reform, which constitutes one of the fundamental steps in the financial and economic reform embraced by the government in its executive agenda."
Al-Sudani emphasized, "Financial reform is not merely a slogan but a series of concepts and measures that the government is determined to implement without hesitation. It will confront all challenges and obstacles that hinder the implementation of well-thought-out reform plans."
According to the statement, the Prime Minister instructed the simplification of all banking procedures and the preparation of a proposed list of facilitations and streamlined procedures to be submitted within a week. Additionally, a summary detailing the obstacles hindering the banking reform process, along with effective and executable solutions, is to be presenteD.
...I DO "BELIEVE" THAT IT HAS BEGUN!! RATES DID CHANGE IN IRAQ LAST WEEK...MAYBE AGAIN OVER THE WEEKEND?
WAITING TO HEAR FROM SOME FOLKS WHO WERE EXCITED LAST NIGHT AND WERE LOOKING TO SEE SOMETHING (BEHIND THE SCENES) THROUGHOUT THE NIGHT...TIME WILL TELL
..."WE WERE TOLD ON WEDNESDAY TO LOOK TOWARDS MONDAY...THAT TIMETABLE HAS BEEN SHORTENED...CONSIDERABLY "
Kaperoni
The only way for Iraq to raise the value would be to do so gradually over time based on the success and growth of the economy. Doing so would allow them to withdraw the large quantities of currency as the economy prospers. It also would allow them to float the currency based on the economic success and diversification.
Walkingstick
HCL payments are all over the world where Iraqi citizens live, where they qualify for these funds..
An important economic recommendation for the Central Bank after it used exchange companies to sell dollars to travelers
An important economic recommendation for the Central Bank after it used exchange companies to sell dollars to travelersOn Saturday, economist Omar Al-Halbousi recommended that the Central Bank choose prudent exchange companies that adhere to its decisions and procedures to sell dollars to travelers at airports.
Al-Halbousi told “ Jarida ” that “exchange companies are considered more connected to the public, as they are the easiest and fastest in doing business, and that the Central Bank’s decision to use police methods to fight and restrict them exacerbated the exchange rate crisis, and proved that they were not behind the dollar leak.”
He stressed, “The evidence for this is that despite fighting it and strangling it with measures, the dollar continued to leak into the black market and out of Iraq, and that the Central Bank sided with the real problem and went to the exchange companies, which because of its measures increased the difference between the two prices.”
He explained, “The Central Bank of Iraq’s decision to ask exchange companies to open branches at airports to sell dollars to travelers contradicts its previous measures to fight them, which is what made it return today once again to seek their help in selling dollars.”
He added, “Therefore, we hope that the choice will be for prudent companies that are committed to the decisions and procedures of the Central Bank and avoid favoritism, as happens in favoritism with private banks, which contributed to complicating the exchange rate problem and embarrassing Iraq before the US Treasury Department.”
Mohsen Al-Mandalawi Calls for Completion of Remaining Projects in Baghdad, 15 OCT
In a bid to uplift the quality of life and infrastructure in the capital city of Iraq, First Deputy Speaker of Parliament Mohsen Al-Mandalawi has urged the initiation of comprehensive campaigns aimed at completing the remaining projects in Baghdad. In his recent statement, Al-Mandalawi emphasized the necessity of these campaigns to better the city’s infrastructure, services, and overall living conditions for its denizens.
Emphasizing Coordinated Efforts
Al-Mandalawi underscored the necessity of strengthened coordination between the government bodies and private sector firms for the successful completion of these projects. He accentuated the role of a collective effort in achieving the target and ensuring the projects’ successful fruition.
Transparency and Accountability: A Key Focus
As part of his statement, Al-Mandalawi also highlighted the critical role of transparency and accountability in the allocation of funds and resources for these campaigns. He stressed that these aspects would be paramount in maintaining trust and ensuring the proper use of resources, thereby leading to the successful completion of the planned projects.
Involving Local Communities
Al-Mandalawi also underscored the importance of involving local communities in the decision-making process. He said that the residents of Baghdad should actively participate in the development plans of their neighborhoods. This approach would ensure a more inclusive and effective implementation of the projects, addressing the actual needs of the residents and making them feel a part of the development process.
Government’s Commitment to Improve Living Conditions
The statements from Al-Mandalawi reflect the government’s commitment to addressing Baghdad’s needs and improving its residents’ living conditions. It is a sign of the government’s dedication to infrastructure development and service improvement, aimed at making Baghdad a better place for its inhabitants.
Iraqi Parliament Calls for Activation of Arab Defense Treaty Against Israel, 15 OCT
In a striking move, the Iraqi parliament has demanded the activation of the Arab Defense Treaty in retaliation to Israel’s ongoing assaults on the Gaza Strip. These attacks have sparked international outcry, as the violence escalates and innocent lives continue to be lost.
Regional Response to Israeli Aggression
The Iraqi parliament’s call for action is a pointed rebuke of Israel’s military activities, which have led to the deaths of over 2,000 Palestinians and displaced around 1 million more. This request is not just a plea for help—it’s a demand for justice. The Arab Defense Treaty, established in 1950, exists to foster collective defense among Arab nations. While the treaty holds symbolic significance, its activation could lead to coordinated military responses by member states.
Furthermore, the legislators have urged the United Nations to intervene and prevent further bloodshed and displacement of Palestinians. They have called for an emergency session of the Arab League—a conglomerate of nations from North Africa, West Asia, and parts of East Africa. This session would be focused on condemning Israeli aggression and discussing potential responses.
The Gaza-Israel Conflict
The conflict between Israel and Palestinian militant groups, primarily Hamas, has been ongoing since October 7th. It started with a surprise offensive by Hamas, involving rocket attacks and breaches of the Gaza-Israel barrier. The Israeli army has reported two missile launches from Syria, but they landed in unpopulated areas and did not require air defenses to intercept them. However, the conflict has escalated quickly, with devastating consequences for both sides.
Israel’s retaliation has involved airstrikes in the Gaza Strip, resulting in a tragic loss of Palestinian lives. Israel has also cut off essential supplies to Gaza, including food, water, electricity, and fuel. This has intensified fears of an impending humanitarian crisis.
Humanitarian Crisis in Gaza
The ongoing conflict has resulted in a dire humanitarian situation in Gaza. With nearly half of the population internally displaced and the healthcare system on the verge of collapse, the region is in desperate need of aid. The United Nations and other international entities have called for an immediate ceasefire and the delivery of humanitarian aid.
Egypt has offered to host a regional summit to discuss the situation and find a peaceful resolution to the Israeli-Palestinian conflict. However, as the violence continues, so too does the suffering of the Palestinian people.
A Call for Solidarity
The Iraqi parliament’s call for the activation of the Arab Defense Treaty is a reflection of the growing solidarity among Arab nations in support of Palestine. It is a cry for action in the face of a humanitarian crisis that shows no sign of abating. As the conflict continues, international efforts to broker a ceasefire and provide aid to Gaza are more crucial than ever.
The situation remains fluid, with the international community watching closely, hoping for a peaceful resolution to the conflict. The plight of the Palestinian people is a reminder of the pressing need for diplomacy and dialogue in addressing global conflicts.
