President Rashid: We hope that the new year will be full of achievements, 1 JAN

 President Rashid: We hope that the new year will be full of achievements

 Today, 17:52

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INA - BAGHDAD

President of the Republic Abdul Latif Jamal Rashid congratulated Iraqis and the whole world on the New Year, on Tuesday, indicating his aspiration that the new year will be full of achievements and the fulfillment of the aspirations of our people.

"With the advent of the new year, we extend our warmest congratulations and blessings to our honorable people inside and abroad, and the whole world," said Rashid on X - followed by the Iraqi News Agency - INA.

He wished that "the Iraqi people and the world a peaceful, prosperous and happy New Year as we welcome 2025." 

"This is a time to come together, unite and commit to building a better future for all Iraqis. Through collective effort, we can meet the needs of our communities, improve living standards and ensure a safer, more stable country for everyone," added the President of the Republic.

EXCERPTS FROM MARKZ : from the Central Bank of Iraq today. 1 DEC

 EXCERPTS FROM MARKZ

MZ: from the Central Bank of Iraq today…..has us excited. I think it tells us a lot about timing.

MZ: “In continuation of circular # 3449 dated 1-15-2024 regarding the unification and updating of controls and instructions related to the standards for circulation and replacement of bank notes. We attach to you the principal standards and instructions for that will be adopted in the counting, sorting , receipt and delivery of bank notes. To be implemented starting from 1-2-2025 with appreciation That is supposed to continue and be completed 1-15-2024 (2025?)

MZ: they are saying they will be issuing the instructions related to the standards of circulation and the replacement of banknotes….. which has folks excited. .

Member: hopefully the replacement notes mean lower denominations.

Member: So did auctions stop at the CBI?

MZ: They are getting ready to move auctions from the CBI to the banks…We are very close.

MZ” “Iraq to end currency auctions by start of 2025” over the next few days we are going to see so many changes…buckle up

MAJEED: “the CBI has canceled It’s 20 years controversial auction!! @DINARREVALUATION #iraqidinar

 

Al-Hassan in New Year's greetings: Iraqis can draw a better future, 31 DEC

 Al-Hassan in New Year's greetings: Iraqis can draw a better future

INA - BAGHDAD

The Representative of the Secretary-General of the United Nations in Iraq, Muhammed Al-Hassan, stressed in a message on the occasion of the New Year, on Tuesday, that the Iraqi people have the ability to draw a better future.

"I extend to you all my sincere congratulations to the Iraqi people and the government of Iraq on the achievements made during the year 2024," said Al-Hassan in a video message on X - followed by the Iraqi News Agency - INA.





He added, "We have witnessed practical and tangible steps towards development and improving infrastructure."

"We have great confidence in Iraq, its people, and its institutions to draw a better future," he added.

MILITIAMAN CC HIGHLIGHTS NOTES, 1 JAN

 MILITIAMAN CC HIGHLIGHTS NOTES

Highlights

• 🔄 : The forthcoming suspension of the dollar auction system by the Central Bank reflects a significant shift in Iraq’s monetary policy. This change is designed to empower local banks and enhance the overall financial system’s health, ultimately leading to a more stable currency environment.

• 🔍 Importance of Regulatory Oversight: The implementation of strict regulatory measures aims to address issues of corruption and financial malpractice. By ensuring compliance with international standards, Iraq is taking crucial steps to restore investor confidence and improve its business environment.

• 🌱 Long-Term Development Goals: The preparation of a sustainable development report highlights Iraq’s commitment to transparency and accountability in its developmental initiatives. This report will serve as a benchmark for future progress and is expected to attract additional international support and investment.

• 📈 Global Financial Integration: Iraq’s efforts to align its banking practices with international standards demonstrate a commitment to transparency and modernization in its financial systems. By doing so, Iraq positions itself as a credible player in the global financial market, paving the way for further economic opportunities.

In conclusion, the video emphasizes a period of transformation and opportunity for Iraq, marked by significant economic developments and strategic initiatives aimed at enhancing the country’s global standing. The focus on historical significance, combined with forward-looking policies, sets the stage for a promising future as Iraq seeks to rebuild and grow in the coming years.

JEFF: The CBI would have to post and say, 'hey we're going to be ending the currency auctions #iqd

 

Iraq: Five-Year Plan to Attract Foreign Investments, 31 DEC

 Iraq: Five-Year Plan to Attract Foreign Investments

Baghdad - INA

The National Investment Commission announced, today, Saturday, a five-year plan to attract foreign investments, while indicating that amending the investment law ensures addressing the problems and obstacles of the investment process.

The spokeswoman for the commission, Hanan Jassim, told the Iraqi News Agency (INA): "The commission has developed a five-year plan to attract foreign investments by increasing exemptions, facilities and benefits stipulated in the legislation regulating investment, such as joining international agreements that protect foreign investors by allowing them to resort to international arbitration centers as a mediator to settle disputes arising from the implementation of investment contracts and proceeding with amending Investment Law No. (13) of 2006 as amended and the regulations issued according to the law that resulted from the second amendment to Investment Law No. 2 of 2009, which regulated the investment process and the powers of investment commissions."

She added, "The commission sought to establish regulatory controls for investment to ensure equality between foreign investors and local investors, and to activate the one-window system and investor services in a way that facilitates the work of investment companies and gives them the necessary fluidity in obtaining sectoral approvals for investment projects according to the periods stipulated in the law."

Regarding the third amendment to Investment Law No. (13) of 2006, as amended, Jassim explained that “this amendment would ensure that some of the problems and obstacles facing the investment process are addressed by increasing the powers of investment authorities in the governorates according to the constitution, in addition to increasing the benefits and guarantees granted to investors and facilitating the conclusion of investment contracts between the owners and investors.”

Regarding investment in the tourism sector, Jassim indicated that “Baghdad and a number of governorates are witnessing a remarkable growth in the number and type of completed hotels due to the increase in tourist movement and delegations, but the volume of investment in this sector is still average and does not meet the ambition set for it,”




 indicating that “the authority is proceeding in cooperation with the relevant authorities to establish major tourist investment cities in tourist areas such as (the city of Babylon, Ur, Nasiriyah, and the city of Mosul), in addition to encouraging religious tourism in the governorates of Najaf, Karbala, and Samarra.”

Regarding the most important sectors targeted for investment in Iraq, she pointed out that "there are a number of sectors that have had the greatest share in the number of investment licenses granted, including (transportation, oil industry, electricity, health, education, housing, communications, agriculture, youth and sports), which will contribute to implementing the objectives of the government program and the national development plan."

Regarding the implementation of the Authority's axes in the government program, she explained that "the Authority is working to approach ministries, sectoral bodies and all governorates regarding the provision of lands suitable for investment; to announce them as real investment opportunities, in addition to starting to approach investment agencies in the governorates based on the approval of the Council of Ministers on the importance of defining the economic and administrative identity of each governorate in a manner that is consistent with its population, needs and components and helps attract capital and global companies."