NADER FROM MID EAST: Mirage banks of Iraq #iqd #iraqidinarexchangerate

World Bank: Iraq is witnessing a major transformation in improving the business environment and public services, 3 OCT

 The World Bank on Thursday released the Business Redy 2024 (B-READY) report, which showed that Iraq is witnessing a significant transformation in improving the business environment, and explained the progress made by Iraq in vital areas such as regulatory frameworks, public services, and operational efficiency.

The report showed, according to a statement from the Ministry of Finance, a copy of which {Euphrates News} received, some of the positive developments and achievements made by Iraq in making the business environment more attractive and effective for local and international companies, including the stability of the regulatory framework, as Iraq has made great progress in creating a more stable and friendly regulatory framework for business. He succeeded in improving the ease of doing business by simplifying company registration processes and eliminating minimum capital requirements.”

“This improvement contributes to making Iraq more attractive to entrepreneurs, especially small and medium-sized enterprises (SMEs), which play a key role in creating job opportunities and diversifying the economy, and the positive impact has led to the alignment of Iraqi trade regulations with international standards to facilitating cross-border transactions and creating a more stable and predictable environment for investors,” he explained.

The report pointed to “improving access to public facilities and infrastructure, as Iraq has made tangible progress in the public utilities sector, which is essential for the operations of companies. The government has reduced the time required to access basic services such as electricity and water. Investments in infrastructure are currently being made to improve the reliability of future service delivery, and the positive impact These reforms have already contributed to reducing operational disruptions and increasing investor confidence in the market, although further improvements are needed in progress.”

The report also pointed to “strengthening labor market regulations as Iraq introduced new regulations in the labor market aimed at protecting workers and enhancing the inclusiveness of the market. Achievements include equal pay policies, anti-discrimination regulations, and support for collective bargaining rights. The government has also expanded public employment services and training programs to meet the needs of the private sector, and the positive impact these reforms have helped create a more flexible and inclusive labor market, making Iraq more globally competitive.”

The Ministry of Finance stated that “despite the positive points documented by the report, it was based on unupdated data collected in 2023 by the business red team from the private sector – and the data reflects the stage that was collected before collecting that data a while before the reform initiatives of the current government and the stimulus budget came into full effect. And since the government has paid great attention to the private sector, the business environment has developed a lot over the past two years and will continue to develop and at an accelerated pace over the coming months and years when the fruits of the reforms are fully reflected.”

She continued, “What has been accomplished such as reforming a significant number of laws and regulations, tax and customs reforms, electronic payment, e-commerce, digital transformation, reform of state-owned enterprises, guarantees granted to the private sector, and others. Thus, the report did not fairly show Iraq’s journey towards reform and the progress made in many areas, including the establishment of a more stable regulatory framework.

The Ministry of Finance stressed “the commitment of the Iraqi government to continue economic reforms, and the impact of the general budget and reform initiatives will be reflected in future reports based on updated data, which is what the World Bank should have done in the report issued this day.”

https://alforatnews.iq/news/البنك-الدولي-العراق-يشهد-تحولاً-كبيراً-في-تحسين-بيئة-الأعمال-والخدمات-العامة

AL ALAQ WAS TALKING ABOUT THE PROJECT DELETE ZEROS IN TV BY FIREFLY, 3 OCT

 Frank26 

  [Iraq boots-on-the-ground report]  

 FIREFLY: On the news Alaq came in and talked again about the deletion of the three zeros and he said we have a process to enhance the dinar.

  He was explaining how they are going delete the three zeros and add value...

Then this idiot comes on TV and he says to us dropping the zeros will not lead to a value increase.  He's just a fool that hates this is happening.  That's all Alaq talked about, again saying it's under constant review. 

 FRANK:  As far as the guy that comes out and says this is not good, that's it's negative...this is not being sent to you by Sudani...Don't pay attention to them. 

 Only pay attention to your true leader Sudani.

FIREFLY: Special report on deleting the zeros.  They tried to tell us there are good reasons for it and there are bad reasons for it.  They are telling us 54 countries have done this in the past.  They are using that as an example for our monetary reform... 

FRANK:  Remove the cons and only pay attention to the pros...

SANDY INGRAM : How We Know the IQD & VND Currency Value Will Increase in Value #VND News

In the currency of the euro.. Al-Alak announces the launch of a new mechanism for financial transfers to Turkey,, 3 OCT

 Central Bank Governor Ali Al-Alak announced on Thursday the launch of financial transfers to Turkey according to a new mechanism carried out in the euro currency.

A statement from his office, a copy of which was received by {Euphrates News}, said: “Al-Alak received the Ambassador of the Republic of Turkey to Iraq, Anil Bora Inan, along with a delegation of representatives of Turkish banks operating in Iraq.”

He added, “The meeting coincides with the launch of financial transfers to Turkey, according to a new mechanism carried out in the euro currency and implemented inside Turkey through its banks, and this mechanism, which is applied for the first time, would simplify the processes of covering trade with high flow and speed.”

The statement continued, “The attendees discussed ways to provide the requirements of the new mechanism; in order to make it successful and accommodate the large number of merchant transfers and the business sector, while the representatives of banks expressed their readiness to implement the new mechanism and provide regulatory and supervisory requirements in coordination with the International Audit Company, and also indicated their efforts in the framework of expanding their channels with approved correspondent banks.”
 

https://alforatnews.iq/news/بعملة-اليورو-العلاق-يعلن-يطلق-آلية-جديدة-للتحويلات-المالية-إلى-تركيا

RV UPDATE BY JON DOWLING, 3 OCT

 JON DOWLING

Three major takeaways from PM Sudani’s great efforts last week at the UN General Assembly:

1.) He announced the end of the currency auctions this year, not next year,

2.) Israel was waiting for the announcement of the currency auctions. Once they got it, you can see they started striking and are summarily taking out every bad guy in sight. Next up: Iraq/Iran for the grave surrender,

3.) The UN did appoint a new middleman to replace Jeannine, but notice you haven’t seen them at all and you probably won’t, since everything is coming to an end. 

@JonDowling

FIREFLY: DELETING ZEROS FROM THE DINAR WAS EXPLAINED ON TV @DINARREVALUA...