Mecca: Climate investment map may be launched in two months, 8 OCT

 Economy News – Baghdad

The National Investment Authority revealed on Monday an upcoming meeting with the International Finance Organization to present its projects, and while confirming its intensive quest to obtain financing from international banks for sustainable environmental projects, including the “Blue Amonia” project, pointed out that a new draft of the climate investment map may be launched within the next two months, pointing out that it is currently working on 3 projects related to the environment.

“The National Investment Authority cooperates with the International Finance Organization and the private sector to discuss financing environmentally friendly projects,” said the head of the authority, Haider Makiya, in a statement reported by the official news agency, and seen by “Economy News”.

He added, “The Authority will soon hold a meeting with the International Finance Organization to present a range of projects related to climate change and others, with the aim of obtaining funding for their implementation.”

“The Authority is working on many environmental projects at the moment, such as the Blue Ammonia project, which is the first environmental project of its kind in Iraq, in addition to the sustainable forest project, which needs financing, and the waste treatment project to convert it into energy,” noting that “these projects require funding and support from international institutions,” he said.

He stressed that “the authority is also working on preparing a climate investment map, and the final draft may be launched within the next two months.”

He added that “Iraq adopted the establishment of the Green Bank for Sustainable Development project last year, which is specialized in environmentally friendly projects, and will be interested with all projects affecting Iraq,” stressing that “the authority is working hard to obtain the necessary financing from international banks.”

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RV UPDATE BY MILITIAMAN, 8 OCT

 Militia Man  

A new [financial] system that is fast and effect - digitally.  Hopefully they're talking about they're going to have to have an exchange rate to do that. A Real Effective Exchange Rate gets them across borders.  From here on out a different playing field, a digital playing field.  I think that's where we are.  I think it's really powerful information

 If you add up the oil, non-oil, tourism, all of the thing that's where they're going to be able to support the value of their exchange rate with a Real Effective Exchange Rate - Once approved by the IMF, Bank of International Settlements, The World Bank...This is really getting hot!

SANDY INGRAM: BREAKING NEWS: IQD Rate Increases Not Good #iqd

Most private banks closed, fears of liquidity crisis amid citizens’ anger , 8 OCT

 Tishwash:  keep in mind the dollar has been very volatile this past week it's at or just about at 1600 dinars per dollar   but this is definitely interesting

Most private banks closed, fears of liquidity crisis amid citizens’ anger

Today, many banks in Iraq witnessed a state of chaos and tension after their sudden closure, which raised widespread concern among citizens, especially with the emergence of reports about some other banks refusing to return customers’ deposits under the pretext of a lack of cash liquidity. 

This development prompted many citizens to quarrel with the management of the banks that remained open, amid growing fears that the officials of these banks would flee after emptying them of money.

The banks that have closed their doors include:

World Bank

Ashur Bank Babylon

Bank

Al Ansari

Bank Middle East

Bank Al-Qabeed Bank

Noor Iraq

Bank Trans Iraq

Bank Al-Huda

Bank Mosul Bank

As for the banks that remained open, but refused to return customers’ deposits under the pretext of lack of liquidity, they include:

National Bank,

Baghdad

Bank, Development

Bank, Al-Nasik Bank

, Bank of the South,

United Bank,

Union Bank,

Al-Tayf Bank

The sudden closure comes amid reports of financial turmoil hitting Iraq's banking sector, with many customers fearing they will lose their money amid growing rumours that some bank officials are planning to flee the country after withdrawing assets from branches.  link

RV UPDATE BY MARKZ, 8 OCT

 MarkZ 

  [via PDK]

  Question:  Are the goal posts moving again? 

 MarkZ:  I do not believe our goal posts are moving…I believe things are funneling quickly in the right direction.

 “Al Rafidain: More the 4 Trillion dinars electronic collection amounts for government departments"  this is a marked improvement to the government...

a big increase in revenue from getting rid of graft and inefficiency by using electronic systems. They are very much streamlining their government.  This has made a massive difference in stability in Iraq.

IRAQ BOOTS ON THE GROUND REPORT : THE RV MAYBE BY THE END OF THIS YEAR...

Central Bank of Iraq: All employees must open bank accounts before the end of March 2025, 7 OCT

  Central Bank of Iraq: All employees must open bank accounts before the end of March 2025

Today, Sunday, October 6, 2024, a number of employees of the Kurdistan Region received their salaries for the month of August through the "Hesabi" banking project.

In this context, an informed source in the Central Bank of Iraq told Kurdistan 24 that the agreement concluded between the Kurdistan Regional Government and the federal government obliges all employees to open bank accounts.

The source confirmed that employees who do not open a bank account and do not register in the "Hesabi" project until March 2025, will not be able to receive their salaries.

The source explained that there is no difference between the Iraqi localization project and the bank account project, as both come in response to the request of the US Federal Reserve.

He stressed the need for all employees to have bank accounts, with the aim of reorganizing the financial and banking sector in Iraq and the Kurdistan Region.

This comes at a time when 132,000 employees in the Kurdistan Region are preparing to receive their salaries for the month of August through the "Hesabi" project within three days. Today, 40,000 employees received their salaries, with another 46,000 receiving their salaries on Monday and another 46,000 on Tuesday.  link