NADER FROM MID EAST CC HIGHLIGHTS NOTES, 25 NOV

 NADER FROM MID EAST CC HIGHLIGHTS NOTES

Summary

The financial advisor to the Prime Minister, Mazar Muhammad Salah, announced the government’s efforts to establish a market-driven banking system and enhance private sector integration.

Highlights

• 📈 Government aims for a market-based banking system.
• 🏦 Two companies commissioned to study market liberalization.
• 🔄 Reform strategy targets government sector dominance in finance.
• 🌐 Focus on digital banking and financial inclusion.
• 🤝 Private sector to integrate into the global market.
• 🌱 Development participation system introduced for industrial loans.
• 📊 Targeting private sector GDP contribution growth from 37% to over 54%.

Key Insights

• 📊 Market-Driven Banking System: The move towards a banking system based solely on market principles signifies a shift from traditional practices, aiming to enhance efficiency and competition. This could attract more investments and improve service delivery.
• 🛠️ Commissioning Expert Studies: Engaging two companies to analyze market liberalization reflects the government’s commitment to informed decision-making and strategic planning, essential for successful reforms.
• ⚖️ Reducing Government Dominance: The current 88% government dominance in financial institutions stifles market growth. By reducing this, the government is paving the way for a more dynamic and responsive financial environment.
• 🌍 Global Market Integration: The emphasis on integrating the private sector into global markets showcases Iraq’s ambition to position itself competitively on an international scale, which could enhance trade and investment opportunities.
• 💼  Support for Private Sector Growth: The introduction of sovereign guarantees for loans indicates a proactive approach to stimulate the industrial sector, ultimately aiming to boost production and economic stability.
• 📈 Increasing GDP Contribution: Targeting an increase in the private sector’s GDP contribution to over 54% illustrates a clear strategic goal that can lead to sustainable economic growth and job creation.
• 💡 Entrepreneurship and Development Fund: Establishing the Iraq Fund for Development and Entrepreneurship is a crucial step towards fostering innovation and supporting new ventures, which is vital for a diversified economy.

FRANK26……11-22-24…..THE "T " EFFECT……

Artificial Intelligence in Iraq.. Expected Projects with the Digital Cooperation Organization, 25 NOV

 Artificial Intelligence in Iraq.. Expected Projects with the Digital Cooperation Organization

11/24/2024

Iraqi Prime Minister Mohammed Shia al-Sudani confirmed on Sunday that artificial intelligence and digital transformation are the focus of administrative and economic reforms in the country, while the Secretary-General of the Digital Cooperation Organization praised these efforts. 

His media office said in a statement received by Shafaq News Agency that Al-Sudani received today the Secretary-General of the Digital Cooperation Organization, Dima Al-Yahya, where the meeting witnessed discussions on Iraq's progress in the field of digital transformation, within a comprehensive strategy for digital business and artificial intelligence, in line with the government's ambitions and the growing international requirements in this field.

During the meeting, Al-Sudani stressed that the government has laid the foundations for digital transformation, and has worked on this file in more than one path and included it in administrative and economic reforms and what is related to electronic payment, explaining Iraq's ability to develop this sector and achieve a qualitative shift in it, in addition to openness to cooperate with the organization in finding projects that serve Iraq and the region, within the framework of digital transformation and artificial intelligence.

For her part, Dima Al-Yahya praised Iraq’s development in the digital field and the ongoing qualitative shift, which creates a suitable environment for a number of projects that the organization intends to implement inside Iraq.

She stressed the organization's readiness to enter into projects that serve the government's plans for digital transformation, and that have real benefits for the human resources that Iraq possesses, and benefit from the available material resources, and the high desire and readiness.  LINK

TNT TONY SUMMARY, 25 NOV

 TNT TONY SUMMARY

1. Ray was very excited. Tony said that Ray was trying to reveal the good things.

2. Tony said that he had a special weekend of ups and downs.

3. Two updates during the weekend of ups and downs.

4. The trailer was supposed to be presented during the weekend, but it was not.

5. All three charter agencies reported that the celebration planned for Saturday has been rescheduled for TODAY IN ZURICH.

6. They said that the trailer is complete and we will see it today.

7. Some banks received memos today that the RV is happening and we could see that at any time today.

8. The VND Exchange rate is currently 0.39 US dollars

9. Some countries say that they will attack Israel.

10. Most countries are worried about the new administration.

11. We will make a lot of changes after the RV on our end, as it becomes a new world for us.

12. All the three letter agencies said the RV WILL HAPPEN TODAY.

13. Ray is very excited. When asked between 1 and 10.. with 10 being the highest… Ray said he is at 12 !

14. Tony was asked the same question and Tony said, 9.

15. Some people will have accounts in multiple currencies. Tony said he would not accept any.

16. They said it is already done and released. The process is already underway.

17. The banks and the Federal Reserve are waiting for the email right now.

18. Tony said he’s also been waiting for the email from the banks.

19. The RV has been COMPLETED AND RELEASED and the process is underway right now. 

MM&C Iraq News-CBI Building Final Touches-Oil Exports-Development Road-T...

In detail.. The Iraqi budget is subject to political and economic amendments on Tuesday, 25 nov

 In detail.. The Iraqi budget is subject to political and economic amendments on Tuesday

11/24/2024

The Finance Committee of the Iraqi Council of Representatives revealed, on Sunday, the details of amending the budget law included on the agenda of next Tuesday's session.

The agenda of the House of Representatives for Tuesday included the first reading of the draft law amending the first law of the Federal Budget Law of the Republic of Iraq for the fiscal years (2023, 2024, 2025) No. (13) of 2023.

Regarding these amendments, the committee member, MP Jamal Kocher, told Shafak News Agency, "The amendment to the budget law includes one paragraph, which is the cost of producing oil in the Kurdistan Region. The previous amount was very small, and after studying and discussing between the federal government and the regional government, they reached the conclusion that the estimate should be immediate to address and solve the problem, and it should be (16) dollars per barrel, until the final answer is obtained from the advisory committee specialized in determining production costs in coordination with the regional government and production companies operating in the fields."

Kocher added, "This amendment aims to solve the problem and re-export the Kurdistan Region's oil to the Turkish port of Ceyhan. There is a political agreement on this, and the political agreement stressed the necessity of solving this problem. Without the political agreement, this amendment would not have been presented in the House of Representatives, and it will be passed according to this agreement without any obstacles within the parliament regarding this increase."

For his part, member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, explained that the paragraph amending the general budget law will be limited to Articles 12 and 13 related to the Kurdistan Region’s oil exports and revenues.

Al-Kadhimi explained that "Article 12, which will be amended in the budget law, relates to the costs of producing and transporting oil in the region, as the costs of producing oil differ in Basra and are calculated at $6 per barrel, while in the Kurdistan Region they are calculated at $20."  

He pointed out that "Article 13 of the budget law, which will witness amendment, relates to the region's oil exports and its export via the Turkish port of Ceyhan."

Al-Kadhimi pointed out the importance and emphasis on amending the budget law and voting on it before the end of the current legislative session, especially since the extended session will end on December 9.   LINK

FRANK26: SUDANI INTENTIONS ARE VERY CLEAR, 25 NOV

  Frank26

  Monetary reform education right now is at a very high peak where we can see very clearly.  Sudani intentions are very clear...

Purchasing power is but only one of many things that he's bringing to you Iraqi citizens and the rest of the world will benefit from that generosity.