In a meeting with Al-Sudani, Oman offers a digital partnership to Iraq.
Prime Minister Mohammed Shia al-Sudani received today, Thursday, the Omani Minister of Transport, Communications and Information Technology, Saeed bin Hamoud al-Maawali.
According to a statement from his office, a copy of which was received by {Euphrates News}, Al-Sudani welcomed the Omani minister and sent his greetings to the Sultan of Oman.
Al-Sudani pointed out that "the level of development, employment, and investment in Iraq, including the telecommunications sector, has advanced and improved, thanks to the political, security, and social stability the country is witnessing, as well as the economic renaissance," stressing that "the many commonalities between Iraq and the Sultanate of Oman provide an opportunity to develop economic and investment cooperation between the two countries."
For his part, Al-Maawali praised Iraq's achievements on various fronts, reviewing "the results of his discussions in Baghdad," and affirming "the readiness of his country's public and private sectors to cooperate with Iraq in the field of the digital economy and digital government."
Al-Maawali also expressed his country's "readiness to cooperate in the ports and airports sectors by investing in projects related to various Iraqi airports." link
MILITIAMAN: Real-time Iraqi dinar data - Coordination and cooperation mechanisms targeted
Highlights
Summary
In this engaging video by Militia Man, the host discusses the current state of the Iraqi economy and its banking sector while providing updates on political developments in Iraq, particularly in relation to the Kurdish region.
The host stresses the importance of collaboration between the central government and the Kurdistan region to resolve issues surrounding oil exports and economic stability.
He notes significant improvements in the political and economic landscape of Iraq, driven in part by foreign investments and a renewed focus on integrating Iraq within the global financial system.
Militia Man highlights the crucial role the banking reform process plays in modernizing Iraq’s financial institutions, aimed at compliance with international standards and enhancing investor confidence. He touches upon the ongoing efforts to resume oil exports from the Kurdistan region and emphasizes that these measures are necessary to address severe economic setbacks. He asserts that Iraq is approaching a critical phase, needing to synchronize various political, economic, and financial efforts to foster stability and sustainability.
The host expresses optimism that Iraq is not only ready but also actively engaging with regional players to strengthen ties and attract investments. He concludes by urging viewers to stay connected for future updates while reminding them of the importance of supporting independent content creators and platforms in this space.
☕ Morning Coffee Ritual: The host starts his day with Freedom Forge coffee, setting a personal tone for the discussion.
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Banking Sector Reforms: Iraq is undergoing reforms in its banking system to comply with international standards and boost investor confidence.
🇮🇶 Political Stability: The host emphasizes recent improvements in the political scene, contributing positively to the economy.
🛢️ Kurdistan Oil Exports: Significant discussions are ongoing to resume oil exports in the Kurdistan region, which is critical for Iraq’s economy.
🌍 Global Integration: The need for Iraq to synchronize its financial practices with global norms to enhance economic stability is stressed.
🗣️ Regional Cooperation: Both the federal government and Kurdistan region show signs of cooperative efforts to resolve outstanding economic issues.
🤝 Ongoing Conversations: The importance of continuing dialogues between various authorities in Iraq to facilitate economic growth and stability is highlighted.
Key Insights
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Importance of Data Analysis: Militia Man emphasizes the necessity of data analysis in drawing conclusions about Iraq’s economic situation. The aggregation of information on a daily basis allows for informed discussions regarding economic forecasts and the overall health of the country’s financial environment.
📈 Investment Climate Improvement: The increasing presence of foreign and Arab banks signals a recovering investment climate in Iraq. By enhancing the banking framework, Iraq is working towards becoming a regional financial hub, which would uplift its economy and attract more foreign investments.
📉 Impact of Delaying Oil Exports: The halt in oil exports from Kurdistan has resulted in massive losses for Iraq. Understanding the financial implications, it’s clear that immediate action is required to resume oil production to benefit the federal budget and overall economy.
💼 Legal Framework and Federal Coordination: Establishing a legal framework that supports the oil agreement between the federal government and the Kurdistan region is essential for long-term economic sustainability. This coordination underscores the interdependencies within Iraq’s political landscape.
🔄 Synchronizing Economic Strategy: The host argues that Iraq must synchronize its economic reforms and strategies, particularly regarding currency valuation and cross-border trading processes. This synchronization is necessary to minimize market disruption and boost investor confidence.
🛣️ Infrastructure Development: The development road project indicates ongoing efforts not just for domestic growth but for integrating regional economies. This strategic approach ensures that economic benefits extend beyond borders to foster neighborly partnerships.
📊 Emerging Digital Frameworks: The emphasis on transparency and accountability in Iraq’s governance structures suggests a transition toward digital frameworks for financial management. This modernization is necessary for confronting challenges in a global context and ensuring effective state functionalities.
Overall, Militia Man’s reflections emphasize that Iraq is in a crucial transitional phase; the outcome will greatly depend on its ability to navigate political, economic, and cooperative relations effectively. The journey toward financial integration and stability entails a multi-faceted strategy and significant collaboration across all levels of government and society.
The leader of the Kurdistan Democratic Party, Wafaa Muhammad Karim, confirmed that the Kurdistan Region will seek to convince oil companies operating on its territory to resume oil exports, as part of the joint efforts between the federal government and the region to resolve the oil file.
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Karim said in a statement to {Al-Furat News} that: “Among the important axes discussed by Prime Minister Mohammed Shia Al-Sudani during his visit to the region, is the size of the losses incurred by Iraq as a result of the suspension of Kurdistan’s oil exports during the past two years,
which amounted to 23 billion dollars.” He added that “the region will work seriously to convince oil companies to resume exports, within the framework of the recent understandings aimed at ending the stalemate in this file.”
The Iraqi Bank for Trade announced on Tuesday the availability of the cash deposit service (free) through ATMs to its bank card holders, indicating that this aims to simplify procedures and provide faster and easier services to citizens.
The bank’s media advisor, Aqeel Al-Shuwaili, said in a statement reported by the official news agency, and seen by “Economy News”, that “the cash deposit service is available to the holders of the bank’s (Visa, Mastercard) cards issued in the Iraqi dinar currency only,” pointing out that “the service is free and does not require any additional fees.”
Al-Shuwaili explained that “the upper limit for one deposit is 5,000,000 Iraqi dinars, provided that the number of banknotes does not exceed 150 sheets, while the upper limit of the monthly deposit is 13,200,000 Iraqi dinars,” pointing out that “other deposits made through the bank’s mobile phone application or through the branch cashier are counted within the specified monthly ceiling.”
He pointed out that “the cash categories accepted through ATMs are: 10,000, 25,000 and 50,000 Iraqi dinars,” calling on customers to “withdraw the receipt of the transaction after deposit, including its details, as well as sending a notification of the deposited amount to the customer’s email.” He stressed that “the cash deposit service is available through ATM machines in the following locations:
* Main Branch: Al-Harithiya – Al-Kindi Street – Building No. (4). * International Zone Branch: Legislation District – Green Zone – Locality 228. * Al-Mansour Branch: 14 Ramadan Street – Adjace to Shamisani Restaurant. * Tahrir Branch: Al-Rasheed Street – Building No. (11) – Next to the Artists Syndicate. * Erbil Branch: Waziran – Zakros Street – Opposite Sami Abdul Rahman Park. * Hibet Khatun Branch: Al-Azamiyah – Omar Bin Abdulaziz Street. * Al-Sadiya Branch: Al-Alwa Street – Opposite SAS Toyota. * Pool Branch: Al-Karrada – Pool Intersection – Near Degla Village.