Article quote: "The Minister of Finance and The US ambassador today discuss efforts to achieve economic reforms...
They strengthened bilateral relationships between the two United States and Iraq with a focus on economic cooperation."
I like that part.
"The meeting discussed the development road project that connects Iraq to Europe through Turkey and is one of the largest strategic and vital project making Iraq the link between Asia and Europe."
That is unbelievable and it's given a finality to it. I like it...
FRANK26: "ELECTRONIC PAYMENT SYSTEM REACHES OUT TO THE INTERNATIONAL WORLD!!!"....F26
Al-Alaq: The Central Bank has taken steps to promote the use of electronic payment
10/14/2024
Baghdad
The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, confirmed today, Monday, that the Central Bank has taken steps to enhance the use of electronic payment.
The bank's media office stated in a statement received by "Al-Eqtisad News" that "Al-Alaq received the Ambassador of the Federal Republic of Germany to Iraq, Christiane Homann, and during the meeting, they discussed banking relations, enhancing the financial inclusion plan in Iraq, and the importance of digital transformation, in addition to providing full support to Al-Riyada Bank for financing small projects,
which will launch its services soon."
He added, "During the meeting, the plan to reform the government and private banking sector was reviewed, with direct support from the Prime Minister, to achieve a stable, secure and efficient sector."
Al-Alaq stressed, according to the statement, that "there is a great desire among citizens to use electronic cards, which enhances electronic payment in Iraq, as the Central Bank of Iraq has taken many steps in this direction in coordination with the relevant authorities."
He explained that "Riyada Bank will provide its services to an important segment of customers, as it aims to provide support to emerging small and medium enterprises, as it will be a bank different from other banks through its unconventional products that will contribute to creating job opportunities for various social groups in society, and open new horizons in a stable investment environment," noting that "there will be representative offices in most Iraqi banks to facilitate customers' access to it and benefit from its services."
For her part, the German Ambassador expressed her country's "readiness to provide advice and technical support for such important projects that support the common goal of diversifying the Iraqi economy."
Article: "Iraq Increases Reserves at IMF by 50%" Quote: "Iraqi Cabinet...approved an increase in Iraq's quota at the International Monetary Fund (IMF) by 831.9 million Special Drawing Rights (SDR),
equivalent to 1.45 trillion Iraqi dinars [$1.1 billion] based on the exchange rate as of October 8, 2024.
This 50-percet increase...will enhance the country's voting power within the IMF...
The IMF created SDRs as an international reserve asset to supplement member countries' official reserves...
They serve as a potential source of liquidity for IMF member nations."
Parliamentary Economic Committee Expects To Vote On Economic Reform Law Soon
Buratha News Agency1392024-10-17 The Parliamentary Committee on Economy, Industry and Trade expected the vote on the economic reform law to be held in the coming few days, as the committee’s deputy chairman, Yasser Al-Husseini, stated that “the law reached the House of Representatives in general and the Economy Committee in particular months ago, and it includes all laws that include the economic aspect,” according to the official Al-Sabah newspaper.
He added, "The committee held many workshops at all levels, whether for businessmen or industrial and economic experts," stressing that "the committee is proceeding with reading this law and working to vote on it during the next stage in cooperation with other specialized committees."
Al-Hussaini explained that "there are comments, whether from the representatives or from the experts, and they will be included in a paper prepared alongside the law," noting that "the committee is determined to vote on it with the available capabilities because it sees it as important in this law, which can bring about major reform in the economic reality of the country."
He also stressed the "importance of the Industrial Investment Law for the public and private sectors, to accurately diagnose this partnership," indicating that "the contracts concluded in accordance with this law will be beneficial and profitable for both parties, unlike some contracts whose negatives outweigh their positives in the industrial sector, and which oblige the state to long-term, impossible conditions."
He added that "the committee is proceeding with voting on the industrial investment law, which is no less important than other laws, despite some objections that have prevented voting on it so far," stressing that "the final stage of voting has been reached after consensus was reached between the political blocs objecting to its wording." https://burathanews.com/arabic/economic/451753
Member: Re Mike Bara intel. If we go cash in Dinar/Zim if GCR doesn’t go…can we still redeem the other currencies when they go?
Member: Question: If Iraq goes first, will we be able to get SKR’s for our other currencies in advance of a GCR?
Member: If Iraq goes alone, can we just go to bank and cash in our Dinar and still be allowed to go to Redemption Center when the rest go?? Like Zims, Dong, etc. I don’t want to jeopardize things.
Member: you can go twice if they revalue at different times.
Member: I would be excited if Iraq went alone…..It would give all of us relief and make the rest of the world “hurry up” to catch up…..imo
MZ: I still believe all currencies are going together.
