Sunday, March 9, 2025
Iraq, Finland Discuss Strengthening Economic and Investment Ties, 9 MARCH
Iraq, Finland Discuss Strengthening Economic and Investment Ties
Ambassador Mohammed Hussein Bahr Aluloom, Undersecretary of the Iraqi Foreign Ministry for Bilateral Relations, met in Helsinki with Jarno Syrjälä, Under-Secretary of State for International Trade of Finland, to discuss ways to enhance economic, trade, and investment cooperation between the two countries.
Ambassador Bahr Aluloom highlighted Iraq's economic progress, emphasizing security stability and an improved business environment, which have made Iraq an attractive destination for foreign investments.
He cited the United Kingdom's decision to lower travel warnings to Iraq as an example of international confidence in Iraq's progress. The Ambassador also encouraged Finnish companies to invest in strategic projects, particularly the Development Road and the energy sector.
Under-Secretary Syrjälä welcomed Iraq's economic reforms, acknowledging their role in enhancing the investment climate. He expressed Finnish companies' interest in returning to the Iraqi market.
The two sides agreed to develop practical mechanisms to strengthen cooperation, including a delegation of Finnish companies visiting Iraq to explore investment opportunities in renewable energy, electricity, digital transformation, and artificial intelligence. link
TIDBIT FROM FNU LNU, 9 FEB
Fnu Lnu
I reported some time back thatMaliki had been caught with a jet filled with Dinar attempting to depart for Switzerland. The jet was initially detained but ultimately allowed to depart Iraq.
I saw video of the detainment and the interior of the plane and judging by the volume of Dinar onboard, it had to be multiple trillions of dinar. Now Iraq wants it back.
Article: "Iraq's Federal Commission of Integrity (COI) has called on United Nations Convention Against Corruption (UNCAC) member states to enhance legal cooperation in recovering stolen assets and illicit funds...
Swiss Ambassador Daniel Hunn...praised Iraq's reconstruction efforts...affirming Switzerland's readiness to cooperate in recovering stolen assets...and confirmed that Swiss authorities are actively working with Iraq to facilitate the repatriation of funds".
Sudanese advisor: The upcoming digital currency is easy to trade and does not differ in exchange rate, 9 MARCH
Sudanese advisor: The upcoming digital currency is easy to trade and does not differ in exchange rate
The Iraqi Prime Minister's Advisor for Economic Affairs, Mazhar Muhammad Salih, reassured that the digital currency intended to be launched in the future in Iraq is easy to trade and does not differ in exchange rate.
Mazhar Mohammed Saleh told Rudaw Media Network, "The digital currency that is intended to be introduced in the future is consistent with the general trends of central banks in the world, not just in Iraq," indicating that "the idea started with the Bank for International Settlements, which is the international bank of banks in Basel."
He explained that "there is a project called (M. Bridge) that deals with settling financial transactions between central banks with this digital currency, so this external reflection must also be reflected internally," believing that "the central bank is more in need of entering (M. Bridge) in its settlements with the major global oil trade areas in China, India, Southeast Asia and some European countries."
It is noteworthy that the "M Bridge" project was launched in 2021 at the initiative of the Bank for International Settlements in cooperation with China and a number of central banks, with the aim of accelerating international payments using digital currencies, reducing transaction costs and ensuring their security.
Mazhar Muhammad Salih pointed out that “the importance of this currency is that it is generally easy to trade for banks, and it does not require what is called liquidity risks,” adding: “Theoretically, if all the currency within banks is digital, there are no risks in bank credit, no risks in money laundering, and so on.”
Al-Sudani's advisor pointed out that "90% of the monetary mass is outside the banking system, so Iraqi society deals with paper money, and it is unreasonable to immediately switch to digital currency overnight," adding that "it is the project of hope for Iraq, and is directly proportional to the progress and development of the uses of digital currency in the world, and it is equivalent and proportional in terms of value to the issued paper currency."
Mazhar Muhammad Salih confirmed that the digital currency "does not differ from the paper currency at all, and the exchange rate does not differ with it, and there is no difference except that its efficiency is higher, and it comes in line with the development of the world, and I believe that Iraq is keeping pace with the world in this matter." link
TIDBIT FORM FRANK26, 9 MARCH
Frank26
Don't ever let go of your dinars. If a bank says to you, 'well I need to authenticate your dinars, we need to send them to the main branch and have them look it over.'
You tell them what is the address of the main branch? I'll take them. Don't ever let go. Don't lose sight of your dinar.
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