DINAR REVALUATION

Monday, November 25, 2024

NADER FROM MID EAST : Salah talking finance Iqd Iraq

The Iraqi government is working to develop a competitive banking system and support the private sector, 25 NOV

The Iraqi government is working to develop a competitive banking system and support the private sector

Mawazine News – Baghdad

The financial adviser to the Prime Minister, Mazhar Mohammed Saleh, announced on Sunday the government’s efforts to develop a banking system based on the foundations of the competitive market, explaining that the government has commidated two international companies to study the Iraqi banking market with the aim of improving performance and regulating the banking sector.

Saleh said in a statement to the official agency, followed by “Mawazin News”, that “the government strategy for banking reform began with the government banking sector, with the aim of isolating government financial operations from the development of the banking market, as the traditional government sector dominates 88% of banking activity, which causes confusion between government operations and the market. ”

He explained that the government aims to create a competitive banking system that provides modern banking services in line with the country’s digital payments policy, with the aim of achieving actual and digital financial inclusion. He added that “the private banking sector is also going through an evaluation phase and there are opportunities for voluntary integration between banks seeking an international strategic partner.”

In the same context, Saleh stressed that the ultimate goal is to achieve integration into the banking market that enhances competitiveness, homogeneity, compliance and governance, thus integrating the national banking market with the global market.

Saleh also indicated that the government is working to strengthen the development partnership with the private sector by granting sovereign guarantees to the industrial sector to finance international loans for production lines for the most important industrial projects in Europe and Japan, and expanding support for the agricultural sector.

He stressed that the government aims to increase the contribution of the private sector to GDP from 37% to more than 54% in the coming years by providing development financing and supporting private projects, including the Iraq Development Fund and Riyada Bank.

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.