This time we didn't go down, we just called [the bank]...
We said we want to see if we can exchange some currency and he said what kind of currency?
We said Iraqi dinar. He didn't even skip a beat, he said, well I'm not sure about that one right now let me talk to my colleagues and I'll get back to you.
Easy-peasy, we were just kind of shocked. He put me on hold and came back and he very calmly said sir.
..with the amount that you told us you have, the Brinks truck will come to your house and they will do the exchange right there in your house and then you'll be good to go. It'll be in your bank.
You'll be able to verify it on your phone, in your app that shows your banking information. He said you'll be able to validate on a computer, all that jazz, that the money is in your account...
They're saying we should have and accountant and tax attorney. They have a list of all that, that they'd be more than happy to share. I said no thank you I have all that covered...It was amazing. Our jaws dropped...This was [last] Monday by the way..
Mill publishes the full decisions of the 46th meeting of the Council of Ministers held on Tuesday, chaired by Prime Minister Mohammed Shia Al-Sudani.
The Prime Minister’s Information Office said in a statement, in response to “Mil”, that “Sudane chaired, on Tuesday, the 46th ordinary session of the Council of Ministers, in which the developments in the country were discussed, and the basic files related to the priorities of the government program were discussed, in addition to considering the topics on the agenda and taking the necessary decisions thereon.”
The statement added that “the Council approved the conduct of a general census of the population throughout Iraq after addressing technical issues with the Statistical Authority in the Kurdistan Region of Iraq, increasing the financial costs allocated to conduct the census, and the Ministry of Finance transferring the funds required to conduct the census without any slawness.”
He pointed out that “within the government’s procedures for administrative reform, it was approved to appoin (16) general managers, based on the government approach related to the process of evaluating officials and general managers, according to efficiency standards and good performance of tasks, making the number of those who were installed 266 general managers.”
Within the framework of facilitating the implementation of traffic jam projects in the capital Baghdad, the Council of Ministers approved the reowning of 385 dunums of the Basra 2 project, from the National Investment Commission to the Ministry of Finance, and allocating it to the Department of Roads and Bridges in the Ministry of Reconstruction, Housing and Municipalities for the purpose of implementing the fourth ring road project in Baghdad.
He explained that “in continuation of the government support provided to young people, the Council of Ministers approved the exception of the Ministry of Youth and Sports from the instructions to facilitate the implementation of the Federal General Budget Law, based on the provisions of Article (34) of the aforementioned instructions, as well as the Ministry’s exemption from the instructions for the implementation of government contracts (2 of 2014), and the controls attached thereto, and the Ministry’s authorization of direct contracting authority in order to make a success, host and hold the meeting of the Council of Arab Ministers of Youth and Sports in the capital Baghdad, and to establish an activity (Baghdad, the capital of Arab youth.”
In the energy sector, the recommendations and minutes of the committee composed under the directive of the Prime Minister on the recommendation of the Ministerial Council of Energy regarding the thermal cycle power plant project, and the continuation of taking legal procedures against the defaulters, according to the statement of the Media Office.
According to the statement, “In the course of government efforts to raise the capabilities and readiness of the armed forces, the development of the rehabilitation component of military bases and camps was approved within the project of building the capacity of the Ministry of Defense.”
He continued: “Within the regulatory procedures for structuring public companies, the Council of Ministers approved the following:
1. Al-Tareq General Company (previously) was excluded from the merger with Al-Furat General Company for Chemical Industries, and Al-Nahrawan General Company (formerly) from the merger with the General Company for Design and Implementation of Projects, pursuant to the decision of the Council of Ministers (360 of 2015) to enable each company (Al-Furat General for Chemical Industries, Design and Project Implementation) to submit their final accounts for the years from 2016 upwards, in addition to the ability of Al-Tareq General Company (previously) to submit its final accounts independently until the date of its association with the General Company for the Pharmaceuticals and Medical Supplies Industry in Samarra / Iraq.
2. Follow up the issuance of the Military Industrialization Authority of the final accounts of Al-Nahrwan General Company (formerly) for the years from (2009 to 2011) sent to the Federal Bureau of Financial Supervision under the letter of the Ministry of Industry and Minerals dated June 16, 2019 and follow-up of the completion of its accounts starting from 2012 and up, and submission successively and independently, up to the date of its merger with the General Company for Military Industries (previously) under the ministerial order dated June 12, 2016.
In the same context, it was approved that each of the following merged companies would submit their final accounts for each of them in detail for previous years before this affected the merger decision:
1. Al-Tareq General Company (formerly).
2. Al-Furat General Company for Chemical Industries.
3. Al-Nahrwan General Company (formerly).
4. The General Company for the Design and Implementation of Projects.
5. General Company for the Manufacture of Pharmaceuticals and Medical Supplies.
6. General Company for Military Industries (formerly).
He added that “in continuation of the lagging and suspended projects, the Council of Ministers approved the following:
First, increasing the amount of reserve for contracting the project (establishment of maintenance buildings and warehouses for the Faculty of Nursing in Fallujah) included as a component of the project (design and implementation of the building of the Faculty of Nursing of the University of Fallujah), and ensuring an increase in the total cost of the main project from the amount of savings within the cost of the main project components, which is (7) components.
Second / Developing a component (the remaining works for the construction of the primary health care sector building in Al-Shamiya) within the project (establishing the building of the primary health care sectors in the center and the districts of 4 Diwaniyas), and increasing the total cost of the project.
Third / Developing components (completing construction) for the projects outlined in the letter of the Ministry of Planning dated November 3, 2024, reducing the total cost of components (calling), and increasing the total cost of major projects.
Fourth / Increasing the reserve amount for the project (residential complex in Diwaniyah / Hamza), and increasing the amount of reserve.
The statement of the Information Office continued that “in the foreign relations file, the recommendation of the Ministry of Foreign Affairs on the establishment of diplomatic relations at the level of resident ambassador with the Republic of Turkmenistan was approved, based on the provisions of the Foreign Service Law No. 45 of 2008.”
He stressed that “it was approved that the General Company for Textile and Leather Industries handed over the value of materials (cash) for not including the judicial ruling in its ruling paragraph, which indicates implementation (cash in case in no kind execution).”
I'm sure you've already heard about the phone call between Sudani and Trump, so there's some good things coming down the road for Iraq...
Article: "Sudanese and Trump agree to coordinate to stop the region's wars and meet in the near future."
When the two of them spoke this was around the time about 70 different world leaders were calling to
congratulate Trump on his victory but they were saying that when it came to Sudani they had a much longer and different talk altogether.
So why exactly does Trump want to meet with Sudani as soon as possible?
Trump is going to be making a proposal to Sudani I think that he won't be able to pass up on and that is he wants Sudani to help Trump negotiate some kind of peace deal with Iran or if he can't do that at least facilitate keeping them under control while he is in office so he can bring peace to the Middle East. He feels Sudani is his ticket into Iran.
Is The Grand Faw Port Iraq's Gateway To Global Trade?
Posted on 2024-11-12 by sotaliraq In a move that represents a qualitative leap for the Iraqi economy, the government has opened five new docks within the Faw Grand Port project, raising questions about the possibility of transforming the port into a new starting point for global trade.
This project, which comes within the framework of the “Development Road” initiative, is one of the largest logistics projects in Iraq and the region, as it aims to link the Arabian Gulf with Europe through an integrated transportation network.
Economic experts confirm that the Faw Port will contribute to correcting the course of the Iraqi economy, by providing a giant infrastructure that supports all sectors, increases job opportunities, and enhances Iraq's competitiveness in the international economic arena.
With the completion of the remaining phases of the project by 2028, its capacity is expected to reach 91 million tons annually, making it one of the largest ports in the region and enhancing Iraq’s position as a major hub for global trade.
The economic expert, Maitham Al-Bolani, said, “The starting point of the development path is the port of Faw, which has become a reality in economic life and the first real infrastructure for developing the national economy and has a positive impact on the global economy, especially since the development path is being implemented in an Iraqi-Turkish-Emirati-Qatari partnership, and the Turkish side, in its first steps, concluded a quadripartite agreement with Hungary, Serbia and Bulgaria with the aim of delivering goods to the farthest parts of the world.”
He stressed that “the port of Faw represents an important starting point for global trade in various directions, and thus this port has great economic feasibility, especially with the existence of the development road, as the port and the road complement each other, noting that Iraq will be a fertile and mature investment destination for manufacturing industries at the present time at the very least and strategically in the future.”
It is noteworthy that the member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said that “the opening of the five docks and the completion of the investment in the Faw Port will contribute to supporting the development path, in addition to the fact that it will be part of the Silk Road, indicating that Iraq is located in a geographical area that makes it a link between the major countries, China and Europe.”
For his part, development consultant Amer Al-Jawahri said, “The Grand Faw Port is the first real step that will facilitate global trade and link the West of the world to its East by the shortest and least time-consuming routes.
It will also enhance the volume of Iraq’s international trade with East Asian countries, where there is a large volume of trade and achieves fluidity in this regard.”
He pointed out that “the completion of all stages of the Grand Faw Port, and its being a starting point for the development path, will enhance the reality of the Iraqi economy, and Iraq will be a real attraction point with great and sustainable benefit for Iraq.”
He pointed out that "Iraq, through this port, will be of new benefit to European countries as well and the West in general, and they will develop tendencies to invest in Iraq and its regions close to this project."
Al-Jawahiri recommended “establishing the executive body for the development road project, of which the Faw Port is an important part, complementary to the new road and railway projects and other projects in more than one economic joint, which is considered a necessity for this project.”
He pointed out the "importance of concluding agreements with several countries that have a direct impact on the process of managing the integrated project, starting with the port and the development path with all its institutions."
He stressed the “necessity of forming the Faw Economic Zone Authority, which will handle the issues of economic and industrial cities and the technological city, all the way to the tourist city, which is an important part of the region and of great benefit. Here, we stress the necessity of forming institutions and the authority with legislation, so that it will transcend the successive governments that have managed the country.” LINK
Zimbabwe's new currency is set to trade on the Forex market.
[Why do] We discuss why we watch the ZIG currency so closely...when most of are IQD investors [?]
...We watch the Zimbabwe's currency because, like Iraq...Zimbabwe had a currency where it took $1.47 to make one Zimbabwe dollar. (Iraq's currency was over 3 IQD to $1.00 before 2023).
Like Iraq the country ran into hardship and was devalued and spiraled downward.
We watch Zimbabwe and other developing countries currency for ideas on how Iraq may handle its currency revalue, float, reinstatement or central bank digital currency...
Zimbabwe has lots of gold and Iraq has lots of oil...Zimbabwe plans for its gold-backed currency to trade on the Forex market. However they did not tell us when this event will happen...
