IRAQ PLANS TO RECEIVE 4 MILLION CONTAINERS ANNUALLY AT UMM QASR PORT

 IRAQ PLANS TO RECEIVE 4 MILLION CONTAINERS ANNUALLY AT UMM QASR PORT.

Umm Qasr Port in Basra is undergoing rapid development as part of a plan to modernize its infrastructure and enhance its operational capabilities, aiming to increase its annual capacity to 4 million containers.

The port is considered one of the most prominent Iraqi ports, playing a vital role in supporting the national economy and connecting Iraq to global markets. This is achieved through development projects that include expanding docks, establishing advanced storage yards, and adopting modern digital technologies that contribute to accelerating handling operations and improving logistical efficiency.

Investment companies

Several investment companies are responsible for operating and developing various parts of the port. These include the Emirati company Gulftainer, which operates several docks and storage yards and provides integrated customs and logistics services. The Chinese investment company Lorain is also responsible for implementing projects to expand the docks designated for rolling goods and develop large backyard storage areas. These companies, in cooperation with Iraqi personnel, are also contributing to the introduction of digital operating systems that increase performance efficiency and reduce waiting and clearance times.

In this regard, Gulftainer’s Regional Director, Ibrahim Sarhan, told Shafaq News Agency, “Operations at the terminal operated by the company have witnessed a significant shift in recent years,” adding that “the approved electronic system creates a storage plan before the ship arrives, reducing waiting times and increasing handling efficiency.”

He added, “The terminal was built on an area of ​​450,000 square meters and includes storage yards, refrigerated warehouses, and customs and security facilities operating around the clock.” He emphasized that “customs clearance takes no more than 48 hours, which expedites the movement of goods, especially for sectors such as oil and gas.”

Earthquake-resistant sidewalks

Meanwhile, Naim Abboud, chief engineer at the Resident Engineer’s Department, told the agency, “Lorain Investment Company is developing docks (22, 23, and 24) designated for rolled goods, which were built using an earthquake-resistant heavy wall method.” He explained that “the area of ​​the backyards is 384,100 square meters, and the completion rate has reached 50%.”

Aboud pointed out that “berths (12, 13, 14 and 15) are close to completion, with a completion rate of 97%, while the storage yard (BTM) is 100% complete, covering an area of ​​400,000 square metres, with a design capacity ranging between 700,000 and 850,000 containers annually.”

For his part, the technical assistant to the port director, Muhammad Tahir Fadhel, told the agency, “Beach (11) extends 375 meters in length, and the area of ​​its container yard is 307,000 square meters, and its operational capacity reaches 636,000 containers annually, and it is managed by Gulftainer.”

He added that “the quays being implemented by Lorain extend 550 meters in length and have a design capacity of 850,000 containers annually,” noting that “the total capacity of the new yards is estimated at 1.2 million containers, with facilities allocated for refrigerated and empty containers and handling various goods.”

Earlier, the General Company for Iraqi Ports revealed to Shafaq News Agency its comprehensive plan for the port, which aims to increase the design capacity to 4 million containers annually, compared to just 1 million containers in 2024. This is part of a strategic vision to transform Iraqi ports into highly competitive regional supply centers.

Shafaq.com

TIDBIT FROM FNU LNU

 Fnu Lnu  

 Article: "The Central Bank of Iraq (CBI) has announced the successful transition of external transfers from an electronic platform to direct operations by Iraqi banks through their international correspondent banks."  

Finally, we have some movement that directly actually applies to the furtherance of a monetary revaluation.

 This is the first real news in months now.

 Could they be back on track?

 Only time will tell. Remember that NO ONE has the date or rate.

EXCERPTS FROM MARKZ : BANKS SCREEN SHOWING IQD RATE OF $3.57@DINARREVALU...

THE FINANCIAL INCLUSION RATE IN IRAQ EXCEEDED 46%.

THE FINANCIAL INCLUSION RATE IN IRAQ EXCEEDED 46%.

The Iraqi Private Banks Association noted the success of the basic requirements for implementing advanced standards in combating money laundering, based on the principle of knowing the customer and the sources of their funds.

In a press interview, Wadih Al-Handhal, head of the association, said, “The Central Bank of Iraq is moving forward in implementing compliance standards and enhancing financial inclusion in the banking sector. The Association of Banks also supports ongoing awareness-raising efforts on financial inclusion.”

He added, “The Middle East and North Africa Financial Action Task Force (MENAFATF) has transformed Iraq from a grey zone to a monitoring zone, which  is true evidence that Iraq has made significant progress in enhancing financial inclusion and combating money laundering and terrorist financing.”

He explained, “The need for legal legislation still exists, and we must move forward in the field of human cadres training to keep pace with the rapid digital and technological transformation in the world.”

Regarding the financial inclusion rates achieved by Iraq, Al-Handhal pointed out that, “according to international standards, the current financial inclusion rate in Iraq has exceeded 46% compared to previous years, which is a very significant progress with which we seek to achieve a rate of 90-95% in cooperation with the Central Bank in the near future. The Arab Monetary Fund is also very satisfied with this rate and is monitoring the growth of the banking sector. It considers that Iraq is implementing financial inclusion through a sound mechanism that has contributed to Iraq’s progress in ranking ahead of other countries.”

JUDY NOTES

 Global Currency Reset:

• Sat. 5 July 2025 MarkZ: “Two bond people had exchange appointments on Tues. Some Historical Bonds have been paying out, but not nearly in the numbers we wanted to see.”

• Sat. 5 July 2025 Wolverine: “Looks like everythingis ready to go for the Republic on Mon. 7 July. The Pentacostal Group has come out and their back date is Tues. 8 July.”

• Thurs. 3 July 2025 Bruce: Sovereign multi-billion $ Bonds called Super Pachelli have been paying out. The Iraqi Dinar has revalued again and the new rate was on the back screen of the Forex trading. 17 currencies were shown on the front screen of Redemption Centers, rates fluctuating in value. Redemption Center Leaders had a meeting on the timing for Tier4b notification from 4-7pm Thurs. night 3 July. Two Sources over eight Redemption Centers each said that everything was poised to start by Mon. 7 July. Another source said the timeline was a Mon, Tues, Wed start for Tier4b. Tier4b (Us, the Internet Group) could be notified to set appointments by the weekend, but it may not be until next week Tues. or Wed. 9 July.

FIREFLY: "TV Reports Iran Will No Longer Influence Selection of Iraq’s Prime Ministers" #iraq

 

THE US TREASURY IS PURSUING CORRUPTION FUNDS… AND THE BAGHDAD GOVERNMENT REMAINS SILENT

THE US TREASURY IS PURSUING CORRUPTION FUNDS… AND THE BAGHDAD GOVERNMENT REMAINS SILENT.

An Imminent Crisis in the Iraqi Financial Sector: Has the Phase of Comprehensive Sanctions Begun?

Iraq’s financial system is facing new signs of turmoil after the disruption of salary payments through some electronic payment companies affiliated with government institutions. While the reasons for the disruption appear technical, informed sources confirm that the matter is linked to US investigations targeting Iraqi banks and companies suspected of involvement in money laundering operations abroad, to countries including Turkey, Iran, and the UAE.

The same sources explained that the US Treasury had granted a grace period to a number of private banks and electronic payment companies to rectify their status and comply with international standards for combating money laundering and terrorist financing, including the Financial Action Task Force (FATF) and Know Your Customer (KYC) requirements. However, many of these entities have not demonstrated sufficient seriousness in resolving their cases, opening the door to the inclusion of new names on US sanctions lists in the near future.

This situation threatens to directly disrupt the financial market’s performance, especially if the sanctions affect active institutions relied upon to pay salaries and finance daily commercial activities. Experts expect liquidity within the market to be significantly affected, amid growing concerns about declining public confidence in local banks. This is particularly true with the increased demand for dollars for external transfers or for storage in anticipation of any unexpected developments. This pressure could lead to a decline in the value of the Iraqi dinar and a rise in the dollar on the parallel market, which would impact the prices of goods and services in an already tense economic environment.

Meanwhile, regulatory authorities within Iraq , led by the Central Bank, are preparing to impose stricter oversight on the activities of banks and money transfer companies in an attempt to avoid further escalation. This is particularly true since some technical reports have revealed clear violations in the performance of some banking institutions, including massive financial transfers abroad without legal documentation, the issuance of credit cards to fictitious accounts, and suspicions of financing prohibited activities or smuggling hard currency.

Despite the bleak outlook, observers believe the crisis could mark a turning point in Iraq’s financial reform process. It has become imperative to restructure the private banking sector and impose strict regulatory classifications, along with a comprehensive review of electronic payment companies to ensure their compliance with international standards, and to open the door to broader partnerships with globally licensed financial service providers.

In this context, the crisis may turn into an opportunity to reshape the financial market in Iraq, starting with cleansing the banking environment of unregulated entities and bolstering international institutions’ confidence in the Iraqi transfer and oversight system. The shift toward a more transparent and governed environment is not a luxury, but rather a necessity imposed by both domestic realities and international pressures.

Iraq today stands at a critical crossroads: either integrate into the global financial system on its terms and ensure gradual stability in its banking sector, or continue sliding toward financial isolation, which will have direct repercussions for the lives of citizens and the country’s economy as a whole.