Wednesday, May 22, 2024
Iraqi Oil Minister: Boosting refining capacities will shift Iraq from importing to exporting, 22 MAY
Iraqi Oil Minister: Boosting refining capacities will shift Iraq from importing to exporting
Shafaq News / Iraq’s Deputy Prime Minister and Oil Minister Hayyan Abdul Ghani stated, on Tuesday, that increasing refining capacities will gradually transition the country from importing to exporting, with improvements in gasoline production to meet local demand and eventually export.
During a visit to the Midland Refineries Company, Minister Abdul Ghani highlighted the achievements in the refining sector. He noted that “the ministry and relevant companies have successfully executed and inaugurated several important projects, significantly enhancing national production. ”
Abdul Ghani mentioned that dedicated efforts have added 360,000 bpd of refining capacity within a year and a half of the current government’s tenure. He praised the completion and operation of isomerization units at the Southern Refineries Company with a capacity of 1.3 million liters, the Midland Refineries Company with 750,000 liters, and the Northern Refineries Company with 20,000 liters. These projects contribute to increased and improved gasoline production, meeting local demand, and paving the way for gradual exports.
shafaq.news
"RV UPDATE" BY MILITIAMAN, 22 MAY
Militia Man
Article: "The Central Bank begins the second phase of its banking reform strategy"
They've completed the first phase of reforms and now into the second phase.
Quote: 'It will inevitably bring stability and the recovery of the dinar.' This is amazing...There's some things happening that obviously are beyond our pay grade that are almost available and ready to go. This article...'...inevitably the exchange rate will be in recovery .'
To me that means they're going to go back to that 'previous era'. That would be a recovery. Going from 1460 to 1310 or from 1310 to 1182, that's not 'recovery'...Second phase is that we're at that juncture.
The budget doesn't work at 1300 to 1 or 1310 or even 1320. It's doesn't work at 1160 for crying out loud let alone 1460. Why is it going to work today?
It's not.
The Central Bank begins the second phase of its banking reform strategy, 22 MAY
The Central Bank begins the second phase of its banking reform strategy
Economy News = Baghdad
Samir Al-Nusairi
The Central Bank announced that it will launch the National Lending Strategy on 2024/5/25, which is a clear announcement of the beginning of the second phase of its banking reform strategy, and this means that it has completed the first phase of it by achieving tangible and important results in the field of regulating foreign trade financing and regularizing the global financial system through strict adherence to international compliance standards, building sober international banking relations with international banks and correspondent banks, and introducing local currencies for countries with trade exchange, which it is important to deal with cash in their local currencies, in addition to dealing in US dollars.
As well as activating and strengthening its procedures in the transition from the monetary economy to the digital economy and cooperating with the government in expanding the use of electronic payment tools and spreading the culture of transition to the cash society. Certainly, the above tasks have occupied a large space of efforts at the local and international level.
In the second phase, the focus will be on restructuring banks, especially government banks, and starting to implement new policies to support and develop small, small and medium enterprises, and directly with the establishment and approval of the Riyada Bank and the approval of the Green Bank, which will specialize in sustainable financing for renewable energy projects, as well as the orientation of digital banks to keep pace with progress in the field of modern digital banking products. The online platform will also be phased out this year.
One of the tasks that will begin to be worked on is to rehabilitate the restricted banks from dealing in US dollars to comply with international standards in light of the work of the joint committee between the Central Bank and the US Treasury, through which the work of these banks in the activity of foreign transfers for previous years will also be analyzed and audited in the hope that restrictions will be lifted.
What he expected from the procedures and policies adopted by the Central Bank in the first phase and what it has achieved and what will be achieved from the second phase of the banking reform strategy will be reflected in the stability of the exchange rate and the recovery of the Iraqi dinar inevitably.
"RV UPDATE" BY FRANK26, 22 MAY
Frank26
Article: "The Central Bank begins the second phase of its banking reform strategy"
THE SECOND PHASE OF THE MONETARY REFORM OF THE IQD...'WILL BE REFLECTED IN THE STABILITY OF THE EXCHANGE RATE AND THE RECOVERY OF THE IRAQI DINAR INEVITABLY'! (INEVITABLY MEANS IT HAS TO HAPPEN... IN CONCLUSION: A SANCTIONED PROGRAM RATE DOES NOT REFLECT STABILITY !)
There's some good articles about the float... that's the number one topic right now...We're looking for those videos I told you about. We're looking for more information to be coming out. This plethora of articles, notice they're all focusing on what? The float. Because that IMO is what's next.TIDBIT FROM FIREFLY, 24 DEC
Frank26 [Iraq boots-on-the-ground report] FIREFLY : Mr. Sammy said with this auction stopping the value would have to be added to st...
-
Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...