It can become a major source of income in the economy.. Al-Sudani directs the maturation of tourism projects, 11 JAN

 It can become a major source of income in the economy.. Al-Sudani directs the maturation of tourism projects

Prime Minister Mohammed Shia Al-Sudani stressed, today, Saturday (January 11, 2025), the necessity of investing in Baghdad as the capital of Arab tourism to launch tourism development projects, considering that it can be transformed into a primary source in the non-oil economy.      

The Prime Minister's media office stated in a statement received by "Baghdad Today" that "Al-Sudani chaired a meeting today, Saturday, devoted to presenting a package of tourism projects planned to be established in the capital, Baghdad, and the rest of the governorates."

According to the statement, Al-Sudani directed to work on maturing tourism projects and offering them as a single package, especially since developing this sector will contribute to strengthening and diversifying the national economy by activating vital sectors, including the tourism sector, which the government is keen to activate for the next stage, based on its government program.

He pointed out that tourism and its components are available in Iraq, and it is possible to transform into a basic source in the non-oil economy, with the availability of opportunities, local need, and the desire of citizens to benefit from and enjoy modern, advanced, and environmentally friendly tourism facilities. It also represents a gateway to expanding the elements of attraction for incoming tourism from abroad.

The Prime Minister explained the importance of investing in the opportunity of choosing Baghdad as the Arab Tourism Capital for the year 2025, building attractive tourist and entertainment facilities and installations, overcoming bureaucratic obstacles, and creating more suitable conditions to attract foreign investment in this sector. 

According to the statement, the meeting approved extending an invitation to a Spanish company specialized in tourism development in order to put projects related to this sector into action, as well as to develop the capabilities of specialized tourism cadres and keep pace with the latest developments witnessed by this sector globally.

21 tourism projects were also reviewed, including hotels, resorts, sustainable forests, cities and entertainment complexes in Baghdad and various governorates, which provide attractions, infrastructure and economic feasibility. link

MILITIAMAN CC HIGHLIGHTS NOTES, 11 JAN

 MILITIAMAN CC HIGHLIGHTS NOTES

Highlights

• 📈 Transition to Electronic Finance: Iraq is making strides towards an electronic financial system to improve efficiency and reduce the need for physical cash.
• 💵 Revamped Currency Transfer Mechanisms: Changes in foreign currency transfer processes are being implemented to enhance the flow of legitimate trade.
• 🏭 Focus on Industrial Growth: The Prime Minister’s advisor predicts 2025 will mark a turning point for Iraq’s industrial sector, moving away from oil dependency.
• 📅 Parliamentary Agenda Insights: Upcoming votes on significant laws, including amendments to the investment law and budget discussions, could initiate substantial economic reforms.
• 🔄 Bank Restructuring Initiatives: Plans to restructure major banks are underway, aimed at enhancing Iraq’s banking capabilities and integration into the global market.
• 🌍 International Cooperation: Iraq’s stock market is seeking to establish cooperation agreements with regional financial markets, indicating a move towards greater economic integration.
• 🔒 Efforts Against Unlicensed Financial Operations: The Central Bank of Iraq is taking steps to address unregulated financial practices and enhance the supervision of currency exchanges.

Key Insights

• 💡  Electronic Financial Transactions: The shift towards electronic transactions aims to mitigate cash shortages in Iraq, allowing the government to reduce the costs associated with printing currency. By minimizing the reliance on cash, the government can streamline economic operations and reduce the risks associated with physical currency handling. This transition is crucial for bolstering Iraq’s financial integrity and promoting a more controlled economic environment.

• 📊 Mechanisms for Currency Transfer: The closure of traditional dollar auctions and the introduction of new mechanisms for foreign transfers reflect a strategic shift in Iraq’s economic policy. This change aims to enhance liquidity and speed in financial transactions, which can attract foreign investment and stabilize the economy. By limiting access to dollars for illegal trade, the government is reinforcing the legal financial framework that supports sustainable economic growth.

• ⚙️ Industrial Development Plans: The forecast that 2025 will be the year for industry signifies a pivotal moment for Iraq’s economy. The government’s intention to diversify its revenue sources beyond oil is a strategic move that can lead to job creation and sustainable economic development. Establishing integrated industrial cities will facilitate the growth of local industries and attract foreign investments, thus fostering a more resilient economy.

• 🏛️ Legislative Changes and Economic Policy: The upcoming parliamentary session that includes discussions on the investment law and the federal budget amendment is critical for Iraq’s economic trajectory. These legislative changes can provide a framework for increased investments in infrastructure and public services, ultimately improving the country’s economic landscape and attracting international partners.

• 🏦 Structural Reforms in Banking: The restructuring of major banks like Rapidan and Rasheed is essential for establishing a robust banking sector. This transformation will enable Iraq to better meet governmental needs and integrate with international financial markets. By modernizing banking operations and focusing on governance, Iraq can improve its financial services, thereby stimulating economic growth.

• 🌐 Regional Financial Interactions: Iraq’s efforts to sign cooperation agreements with other stock exchanges in the region indicate a strategic move towards integration into the global financial system. This step may enhance liquidity in the Iraqi market, encouraging foreign investments and boosting overall economic stability. It reflects Iraq’s ambition to position itself as a competitive player in regional and international markets.

• 🔍 Regulatory Oversight of Financial Institutions: The Central Bank of Iraq’s commitment to addressing unlicensed financial operations highlights the importance of regulatory oversight in maintaining market integrity. By enforcing compliance and monitoring currency exchanges, the Central Bank aims to create a safer financial environment conducive to investment and economic growth. This proactive approach is vital for fostering public trust in financial institutions.

FRANK26….1-10-25…….THE NEXT STEP

Weekend News With MarkZ , 11 JAN

 Weekend News With MarkZ 

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Mod:  GOOD MORNING ALL! HAPPY SATURDAY! CBD MATT AND LUCAS KICK OFF THE FIRST 45 MINS AND MARK GIVES THE NEWS UPDATE AT 10:30 AM

Member: good Morning one and All

MZ: ” Parliamentary Finance: Political Blocs do not agree to amend article 12 on the region’s oil” HCL gets its second reading on Monday …it appears there will be serious progress on the HCL. This is a case where the title of the article does not reflect the content. 

Member: Thought HCL was Approved already a few weeks ago?   They really do like to kick the can 

Member: Second Reading on Monday ONLY if not postponed AGAIN

Member: Goldilocks said HCL was done and they were only waiting for 2 laws to be signed in quickly and we are good to go. I believe they were signed in already.

MZ: I am being told if the second reading goes well….they will immediately do the third reading …then Boom we will finally have the HCL. 

Member: This is mental gymnastics because it was said that HCL had been already done. They had a second reading before last year. It seems like they are trying to throw off timing on this.

MZ: No updates on CMKX, Mr. C or the bond side yet today

Member: I heard a rumor that Sudani said the IQD would be worth $54 cents in the next 72 hours. 

Member: At this point, I don't care what the rate is. Just get it done. I will make it work

MZ: I had not heard that tumor yet…but who would jump on it? I would sure think about exchanging and holding it in a multi currency account 

Member: so you hold it in an account like that to just wait for an increase in it's value?  Sounds good

MZ: In today’s banking world where we do not have parity (same rate values) currencies fluctuate against each other.  If you hold currency in a multi currency account –held in the bank account as Iraqi dinars…..not US dollars. Then if the currency rate goes up…..my bank account goes up as well. 

Member: If I could bring in 25,000 IQD and hold the rest for later I would jump!

Member: Still hearing no RV until after the inauguration. 

MZ: It’s possible. Mr. C is of that belief. But my banking sources still believe there is a good possibility we will have a rate change this evening……..late this evening

MZ: if the news is so good after this evening…..I will be here tomorrow to let you all know. 

MZ: It always was stated that the best time to do this was between 11PM est and 2AM est on a Saturday night into a Sunday Morning …so maybe?

MZ: But a number of bond contacts told me very clearly it will happen after the 21st or 22nd. 

Member: Will we still get a contract rate on the IQD?

Member: would you explain contract rate vs exchange rate in simple terms.

Member: the exchange rate is for general public. Contract rate is part of an oil contract in Iraq that will pay a higher rate than public rate. We'll get the contract rate on exchange.

MZ: “Zimbabwe’s currency crisis worsens as illegal traders flourish” This is showing us clearly why they need to move forward. Zimbabwe needs the reset- for all of us to go for them to have the liquidity they need. 

Member: MilitiaMan is excited

MZ: Yes- we spoke yesterday ….He is excited and I am also very excited…there is a lot of good news coming out of Iraq this weekend.

Member:  Everyone have a blessed weekend. Thanks, MarkZ for all you do.

Member: See everyone Monday …unless something big happens tonight….then see you tomorrow.

TIDBIT FROM JEFF, 11 JAN

 Jeff  

Iraq's '25 budget still in the works with the government expected to send the budget tables to the council representatives in early February. 

 The rate needs to change before that guys.  That's why I've been telling you you're in red-hot January.  January is a critical month...to our investment.

Historic Dinar Revaluation Confirmed by Trump! 🎉 ‪@DINARREVALUATION‬ #iraqidinar #iraqidinarinvestor

 

Al-Sudani receives a call from the Pope, 11 JAN

 Al-Sudani receives a call from the Pope

Prime Minister Mohammed Shia al-Sudani received a phone call today, Thursday, from the Pope of the Vatican, His Holiness Pope Francis, who invited al-Sudani to participate in the World Leaders Summit on Children's Rights, which the Vatican is organizing next February, on the occasion of World Children's Day.

A statement from Al-Sudani's office stated that the latter referred to the close relations between Iraq and the Vatican, the common positions on rejecting conflicts and wars, and strengthening efforts to establish security in the world.

For his part, His Holiness the Pope praised Al-Sudani's efforts to calm the situation and his ongoing dialogue with the countries of the region, in order to reduce tension and end conflicts, which contributes to establishing regional stability and security. link