Thursday, February 20, 2025
The first of its kind.. Sulaymaniyah opens an international financial center in the Kurdistan Region, 21 FEB
The first of its kind.. Sulaymaniyah opens an international financial center in the Kurdistan Region
Shafaq News/ The city of Sulaymaniyah witnessed the opening of the International Center for Finance and Trade, on Thursday evening, in the presence of the Governor of the Central Bank of Iraq, Ali Al-Alaq, and the directors of Rafidain and Rashid Banks, in addition to economic and commercial figures from inside and outside the region.
Shafaq News Agency correspondent said that the center is the first of its kind in the Kurdistan Region, and the second in Iraq after the Iraq Stock Exchange, as it aims to enhance economic and commercial movement and attract foreign investments.
The center’s media officer, Shad Khosro, said during a press conference that this center will contribute to the development of the financial and commercial sector in Sulaymaniyah, and will provide a modern infrastructure that includes branches of foreign and local banks, in addition to financial stock companies and a stock exchange.
He explained that the establishment of this center comes within the framework of enhancing financial stability in the Kurdistan Region, and expanding the scope of trade exchange with the interior and exterior, noting that “it will become in the future a major financial exchange in Sulaymaniyah, which will contribute to attracting investors, providing new job opportunities, and reducing the unemployment rate in the region.”
The media official stressed that “the opening of this financial and commercial edifice represents an important step towards strengthening the economic infrastructure in the Kurdistan Region,” expecting that the coming period will witness an increasing demand from banks and companies to open their branches in this center, which will push the economy towards more growth and stability.
The opening of the International Finance and Trade Center in Sulaymaniyah comes at a time when the Kurdistan Region is witnessing major economic transformations, as it seeks to boost foreign investment and develop the business environment.
This center is part of a long-term strategy aimed at diversifying sources of income and reducing dependence on oil revenues by building a sustainable financial and commercial sector that meets international standards.
AJ : Update: Iraq operates a parallel market for dollar exchange rates within the country!!, 21 FEB
AJ
Update: Iraq operates a parallel market for dollar exchange rates within the country. 
this discrepancy has hindered Iraq's ability to introduce lower denomination notes. We should keep a 
on.
A Government Advisor Stresses The Importance Of Gold Trade To Support The Current Account Of The Balance Of Payments, 20 FEB
A Government Advisor Stresses The Importance Of Gold Trade To Support The Current Account Of The Balance Of Payments
The time: 2025/02/18 12:14:47 Reading: 2 ٬ 445 times {Economic: Al Furat News} A government advisor stressed the importance of gold trade to support the current account of the balance of payments.
"The adoption of advanced industrial protection policies will positively reflect on the
quality of the national gold product and the
stability of its prices."
He pointed out that "this step will enhance the protection of one of the most important pillars of the national and family economy, with a direct and positive impact on the current account of the
balance of payments." Saleh explained that
"the organization of the import of non-manufactured gold and its re-export will contribute to achieving an added value to the national economy," stressing
"the importance of careful supervision from the competent authorities to ensure the inventory of the gold movement within the framework of an economically organized trade, with high return and rational governance."
The Industrial Coordination Council had approved at its meeting the day before yesterday, Sunday, the resettlement of the precious metal industry, gold and jewelry, in addition to cosmetic products, while directing to provide all the necessary facilities for those wishing to establish their factories, and
it was decided to
monitor the quantities of gold exported abroad, through controls determining The quantities are re-manufactured,
submit documents to the central bank that provide the value of the external quantity, and
return the quantity yet
Complete its manufacturing for the country, with observation from the central bank.
https://alforatnews.iq/news/مستشار-حكومي-يشدد-على-أهمية-حوكمة-تجارة-الذهب-لدعم-الحساب-الجاري-لميزان-المدفوعات
AJ : 🧐Oil Prices Climb as Trump Pledges to Refill Strategic Petroleum Reserve!!, 20 FEB
AJ
Oil Prices Climb as Trump Pledges to Refill Strategic Petroleum Reserve
President Trump stated the Strategic Petroleum Reserve would be filled up quickly, as it is currently at a low level.
The Biden administration previously released substantial amounts of oil from the SPR to manage gasoline prices.Drillers are hesitant to increase production without higher global prices.
Also this week, President Trump promised tax cuts for oil and gas producers.Crude Oil prices in Iraq today.
Why Iraq’s 2026 Trade Boom Demands A Stronger Dinar!!
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