Frank26: "THE SUCCESS OF THE MONETARY REFORM HAS GIVEN IRAQI BANKS A SUCCESSFUL MECHANISM FOR THE IRAQI CITIZENS".........F26
Reconstructing Iraq: The role of banks in financing the future
6/8/2024
Reconstructing Iraq after years of wars and conflicts represents a great challenge, but it also represents an opportunity to rebuild a strong and sustainable economy.
Banks play a crucial role in financing reconstruction, by providing the loans and credit facilities necessary to finance construction and infrastructure projects.
The Iraqi Deposit Insurance Company played an important role in enhancing the confidence of investors and depositors in the Iraqi banking system, which made it easier for banks to obtain the necessary financing for reconstruction. It is estimated that Iraqi banks have provided loans worth more than $10 billion to finance reconstruction projects in recent years.
Germany's experience after World War II is an inspiring example of how banks can play a crucial role in the country's reconstruction. The KfW German Development Bank has contributed to financing many vital projects in Germany, such as rebuilding industrial and residential infrastructure, and providing financing for small and medium-sized companies. LINK
Al-Alak, the governor of the Central Bank of Iraq, spoke to the Iraqi citizens today, including members of the IMF, AMF, WB, that Iraq was successful in the monetary reforms and that the Iraqi Dinar will return to the glory days, and even surpass them! They also showed the citizens the first video of the success of the work they have been doing! Eddie said it was an amazing video, and the guest speakers spoke for a long time about their successes!
This is huge people! They are talking about a massive new exchange rate! Surpassing the prior rate of $3.22! Remain calm but pray your hearts out that this comes to fruition in a reasonable timeframe! Praise our Heavenly Father for this blessing! All IMO of course!✌🏼
I’m On Sunday, Prime Minister Mohamed Shiaa issued guidance for the steel factory rehabilitation project.The Prime Minister’s Information Office said in a statement that “Prime Minister Mohammed Shia Al-Sudani, today chaired a special meeting with the project of rehabilitating the steel factory in Basra Governorate, affiliated with the General Company for Iron and Steel.
”During the meeting, Al-Sudani was briefed on “the progress of work for the rehabilitation and operation of the project, which is one of the subsenant projects, and listened to a comprehensive presentation on the procedures carried out by the authorities in charge of implementing the project, which was scheduled to open two months ago, but some obstacles prevented this opening, which necessitated holding its own meeting.”The Prime Minister stressed “the need to remove all obstacles and technical problems to the completion of the project, and to complete the installation of smelting equipment,
systems and production lines.”Al-Sudani stressed “the importance of working more than one meal and 24 hours a day, and the implementing authorities must adhere to the agreed time ceilings, and abide by what he directed during his visit to the company last March, during which the rolling factory was opened.”
FF just brought this article to my attention and look at what is inside of it. Iraq joined the Swift System in 2022. This makes them ISO 20022 compliant according to our recent records of what the Swift System is doing.
Today, we are witnessing a 100-year cycle/bubble in the markets and a 50-year pact going away with Saudi Arabia moving from the Petro Dollar to trading in local currencies.
I wouldn't expect too much of a shift the next 2 to 3 days on the Dollar, but the weeks ahead will have a significant toll on the Dollar going forward.
This shift in the Global Economy will begin the process of "leveling the playing field" and reset new demands on currencies that have not been utilized in trade for a long time.
All of this is coming at a very pivotal time. As we shift our attention from the Petrol Dollar to Stablecoins that represent our local currencies in trade among nations, these new demands will increase money velocity that will raise the value of currencies around the world.
This is a process that takes a little time to see changes happen, but the process has begun.
International Support To Remove Iraq From Corruption Indicators
Money and business Economy News – Baghdad The United Nations Development Program announced that it will support Iraq in the field of combating corruption and enhancing integrity, with the aim of raising its ranking in the corruption indicators issued periodically, while the “Arab Network for Promoting Integrity and Anti-Corruption” recommended continuing work on developing and implementing coordinated and effective national strategies that enhance community participation and embody the principles of The rule of law, good management of public affairs and property, integrity, transparency and accountability.
At the conclusion of the regional meeting held in Baghdad from June 3 to 5, the network praised the relative progress achieved in terms of strengthening the participatory approach in developing public policies related to promoting integrity and combating corruption, calling on the concerned parties to deepen this approach and expand its scope.
The network, in its forum held under the slogan “Strengthening cooperation for effective national anti-corruption strategies” under the patronage of Prime Minister Muhammad Shiaa Al-Sudani, stressed the importance of adopting and implementing effective mechanisms to monitor, evaluate and follow up on the implementation of national strategies to enhance integrity and combat corruption, including appropriate indicators that combine productive indicators. Internationally and nationally produced indicators.
The network confirmed in its forum, in which 150 individuals representing 12 countries participated; Establishing proactive approaches to confronting corruption through capacity building and supporting initiatives that seek to fill the legislative vacuum in various fields and protect the drafting of legal texts from the risks of corruption.
It also called for expanding the approved approach regarding working to strengthen ethics and behavior in the public service to include the political, administrative and judicial fields, in addition to more specialized fields as needed.
For his part, Chief Advisor Arkan Al-Seblani, Director of the Regional Anti-Corruption Program at the United Nations Development Program (UNDP), said that “the voice must be loud and clear in the anti-corruption process,” noting that “the Arab Network for Promoting Integrity and Anti-Corruption is the platform Through which the voice of the Arab region emerges in this field, to send political and artistic messages concerned with this important topic.”
He added, “The conference formed 6 working groups to develop detailed visions for six teams based on establishing joint cooperation mechanisms between countries, developing training programs to overcome procedural obstacles and integrating integrity issues in the health, education, and public transportation sectors.”
He explained that “the United Nations Development Program will support Iraq in the field of combating corruption and enhancing integrity, with the aim of raising its ranking in the corruption indicators issued periodically.” 130 views Added 06/08/2024 - https://economy-news.net/content.php?id=44104