MILITIAMAN CC HIGHLIGHTS NOTES, 20 OCT

 MILITIAMAN CC HIGHLIGHTS NOTES

Summary

Iraq is progressing with economic reforms, enhancing banking services, and aiming for international compliance to boost its currency value and attract investments.

Highlights

• 🇺🇸 US supports Iraq’s economic reforms and budget updates.
• 🏦 Iraqi Trade Bank announces new branches to improve banking services.
• 💰 Focus on reducing cash deposits and promoting digital banking.
• 📈 Iraq’s currency expected to strengthen with upcoming reforms.
• 🌐 Iraq participates in global tech cooperation for economic advancement.
• 🛤️ New agreements enhance logistics and international trade.
• 👥 Salaries to be localized in federal banks for transparency.

Key Insights

• 📊 Economic Partnership: The US’s commitment to Iraq’s economic reform underscores a long-term partnership aimed at stability and growth, crucial for attracting foreign investment.
• 🏧 Banking Transformation: The opening of new branches signals a shift towards a more robust banking system, facilitating better citizen services and reducing reliance on cash.
• 💸 Digital Banking Push: The emphasis on digital transactions reflects a broader trend towards modernization, essential for improving transparency and efficiency in the economy.
• 🔄 Currency Strengthening: The Iraqi dinar is poised for a potential increase in value, driven by reforms that aim to stabilize the currency and improve purchasing power.
• 🤝 Global Engagement: Iraq’s participation in international technology forums indicates its commitment to integrating with global markets and enhancing its economic landscape.
• 🚚 Trade Agreements: New logistics agreements signify Iraq’s readiness to expand its trade capabilities, crucial for economic development and regional cooperation.
• 🏛️ Salary Localization: Localizing salaries through federal banks aims to improve transparency and efficiency in payment systems, addressing previous issues of corruption and mismanagement.

FIREFLY: "BUT THE GRAND PRIZE WILL NOT HAPPEN UNTIL THE END OF THE YEAR"...

Credit Bank of Iraq achieves a profit of 20.4 billion dinars, 20 OCT

 Economy News – Baghdad

The Iraqi Credit Bank achieved a net profit of 20.4 billion dinars from the beginning of the year until the third quarter.

According to the bank’s financial statements, revenues amounted to 26.4 billion dinars, achieving a growth of 38% during the same period last year of 19.1 billion dinars.

The bank’s assets rose to 524.8 billion dinars, but deposits fell to 137.5 billion dinars from 150.6 billion dinars.

The bank owns a retained profit of 38.7 billion dinars, which has been an accumulation for many years.

https://economy-news.net/content.php?id=48924

BANK STORY: "IRAQI DINAR WILL NOT KEEP THAT LOW VALUE LONG" BY MARKZ, 20 OCT

 MarkZ  

 Bank Story

   “Spoke to the teller at my Chase bank this morning in Arizona. I asked if this branch would be a RV center….He didn’t know what I meant so I told him about the dinar.

 He said he was from Iraq and still has family there.

 He told me that Iraq was in a Renaissance and is a very prosperous nation.

 He also confirmed Iraq has gone to a new digital banking system.“ 

 Iraq dinar will not keep that low value long.

MILITIAMAN: THE PROGRESS IN ECONOMIC REFORMS FOR BOOST THE VALUE OF THE IQD @DINARREVALUATION

Al-Sudani: We Will Reach A Production Stage Exceeding 80% In Three Years, 20 OCT

 Al-Sudani: We Will Reach A Production Stage Exceeding 80% In Three Years

Local | 03:05 - 10/19/2024  Mawazine News – Baghdad  Prime Minister Mohammed Shia al-Sudani announced today, Saturday, the production of 25% of Iraq's need for antibiotics, stressing that a pharmaceutical production stage exceeding 80% will be reached within three years.

His office stated, in a statement received by "Mawazine News", that "al-Sudani opened, today, two factories for antibiotics (cephalosporins) and immunosuppressive drugs, which are private sector projects, within the program to localize pharmaceutical industries in Iraq, which the government has adopted as a priority in its program."

Al-Sudani was briefed on "the stages of work in the factory, which has adopted the most advanced global technological origins, represented by the Italian company (EMA), which specializes in pharmaceutical industries, and met with the working cadres from various scientific specialties, in addition to reviewing the stages of implementing a new factory for cancer treatment drugs at a cost of (60) million dollars, which is planned to be completed in the coming months."

He pointed out that "this factory was established in light of the government's decisions taken since the beginning of its work," stressing that "the goal of localizing the pharmaceutical industry was among the priorities of the work, and was accompanied by providing facilities to private sector drug producers, in the field of issuing loans and sovereign guarantees to establish pharmaceutical projects.

" Al-Sudani noted that "the products of this factory of antibiotics will cover about (25%) of the country's need, which is important to achieve self-sufficiency," stressing "work to achieve drug security, as it is not permissible to accept that local pharmaceutical products cover 10% of the original drug market, which is worth more than (3) billion dollars."

He explained that "contracts for establishing pharmaceutical projects have increased under the current government by more than 60%, which is a positive indicator for reaching a production stage exceeding 80% during the next three years, especially for life-saving drugs and cancer patients' drugs, which are expensive and difficult to secure on a permanent basis," stressing "work to establish the pharmaceutical industrial city."

Cephalosporins are life-saving antibiotics, and they will be produced in all their pharmaceutical forms up to the fourth generation, which include suspensions with a capacity of (12) million vials annually, capsules with a capacity of (450) million capsules annually, tablets with a capacity of (600) million tablets annually, and intramuscular and intravenous injections (vials) with a capacity of (40) million injections annually.   https://www.mawazin.net/Details.aspx?jimare=256064

"PAYMENTS ARE BEING RECEIVED" BY JENTEL , 20 OCT

 JENTEL RV UPDATE 

RV NEWS-

AA Uriel

 Payments are being received. They started

yesterday in other countries.

 To meet today's requirements, confirmations of received payments must come from all platforms. 

Confirmations from the bank to the Treasury to avoid delays in notifications. One day of grace. Iraq has confirmed the payment days (?). -He then put his finger on his lips as if to tell me not to ask any more questions about it.

UPCOMING NEWS-

-Accidents are coming. There will be a plan to handle them.

Caravans are coming.

https://t.me/mhc70

SPANISH TRANSLATION: 

NOTICIAS RV-

AA Uriel

 Los pagos se están recibiendo. Comenzaron

ayer en otros países.

  Para cumplir con los requisitos de hoy, las confirmaciones de los pagos recibidos deben llegar desde todas las plataformas. 

Confirmaciones del banco al Tesoro para evitar demoras en las notificaciones. Un día de gracia. Irak ha confirmado los días de pago (?). -Entonces se puso el dedo en los labios como para decirme que no hiciera más preguntas al respecto.

PRÓXIMAS NOTICIAS-

-Se avecinan accidentes. Habrá un plan para manejarlos.

Se avecinan caravanas.

https://t.me/mhc70