Wednesday, October 30, 2024
Tuesday, October 29, 2024
Al-Sudani: The Priorities Of The Government Program Were Necessary Due To The Nature Of The Stage And Its Economic Challenges, 30 OCT
Al-Sudani: The Priorities Of The Government Program Were Necessary Due To The Nature Of The Stage And Its Economic Challenges
Tuesday 29 October 2024 | Politics Number of readings: 113 Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed: "The priorities of the government program were necessary for the nature of the stage and its economic challenges."
Al-Sudani said in a speech during the cabinet session on the occasion of the second anniversary of the first government session: "The targets of the government program touched the needs and aspirations of the people."
He added: "The ambition and accurate diagnosis were among the most prominent features of the government team, and we succeeded in prominent files and the language of numbers is what governs."
The Prime Minister continued: "Our achievement is throughout Iraq, and was not limited to one city, and we have completed stalled projects since 2005, and we have begun to solve intractable problems." https://ninanews.com/Website/News/Details?key=1165035
EXCERPTS FROM MARKZ, 30 OCT
EXCERPTS FROM MARKZ
The Central Bank republishes controls on the declaration of funds and their entry or exit from Iraq, 29 OCT
The Central Bank republishes controls on the declaration of funds and their entry or exit from Iraq
Baghdad Today – Baghdad
The Central Bank of Iraq, on Tuesday (October 29, 2024), re-published the controls on the declaration of funds, indicating that it allows the entry or exit of amounts below $10,000.
The bank said, according to a statement received by Baghdad Today, that in order to reduce the risks of entering and taking out funds across the Iraqi border and exploiting this in money laundering or financing of terrorism, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2025, and the provisions of Controls No. 1 of 2029 (amended to Regulations No. 1 of 2017), the following should be adhered to:
1. It is allowed to enter or take out amounts of less than (10,000) dollars (ten thousand US dollars) or its equivalent in other currencies without declaring them.
2. It is allowed to enter or take out amounts exceeding (10,000) dollars (ten thousand US dollars) to 20,000 dollars (twenty thousand US dollars) provided that they are declared, with the need to show what supports the purpose of entering or taking out these amounts. In the event that supporting documents are not available, the traveler shall submit a pledge to bring those documents after (30) days from the date of the permit.
3. It is forbidden to enter or take out amounts exceeding (20,000) dollars (twenty thousand US dollars) or its equivalent in other currencies, and the process of entering or taking out these amounts through financial institutions is exclusively.
4. It is forbidden to enter or take out amounts exceeding (1,000,000) dinars (one million Iraqi dinars) even if they have been declared, and the amount is seized and legal procedures are taken against it. 5 Declaration of precious stones and precious metals if its value exceeds (10,000) ten thousand US dollars 6. Declaration of negotiable financial instruments to the bearer or transferred inside or outside Iraq through a person, postal service, shipping service or any other means whose value exceeds (1,0000) ten thousand US dollars.
NADER FROM MID EAST CC NOTES HIGHLIGHTS, 29 OCT
NADER FROM MID EAST CC NOTES HIGHLIGHTS
Summary
Iraq has attracted $100 billion in investments over two years, including a $5 billion deal with Egypt’s Eli Electric to develop industrial cities.
Highlights
- 💰 Iraq secures $100 billion in investments over two years.
- 🤝 $5 billion agreement signed with Egypt’s Eli Electric for industrial cities.
- 🏗️ Focus on advancing industrial and educational infrastructure.
- 📈 Joint investment fund established to promote smart industry and education.
- 🌍 New economic city aims to attract local and international investors.
- 📍 Potential locations assessed in Central and Southern Iraq.
- 👷♂️ Project expected to create jobs and diversify the economy.
Key Insights
💵 Significant Investment Growth: Attracting $100 billion signals strong investor confidence in Iraq’s economy, paving the way for future growth.
🇪🇬 International Collaboration: The partnership with Egypt’s Eli Electric underscores Iraq’s commitment to international cooperation in economic development.
📚 Focus on Education and Industry: Prioritizing educational infrastructure alongside industrial development indicates a long-term strategy for sustainable growth.
💡 Innovation through Smart Industry: The establishment of a joint investment fund aims to nurture advanced technologies, which could enhance Iraq’s competitiveness.
🌆 Economic City Development: The plan for a new industrial city highlights Iraq’s strategic approach to creating hubs that attract diverse investments.
🗺️ Geographic Diversification: Assessing locations in Central and Southern Iraq aims to ensure equitable economic benefits across regions.
📈 Job Creation Potential: The project is expected to generate employment opportunities, contributing to economic diversification and stability..
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