Sunday December 12, 21Central Bank: Iraq has become attractive to investment
Security Expert: The American Exit From Iraq Is “Just Talk On Paper”
Security expert Kazem al-Hajj confirmed, on Saturday, that the statement of the National Security Adviser and the delegation negotiating with the American side is just talk on paper and has no effect on reality, indicating that what the American general said about the survival of combat forces is evidence that the statement is a deception.
Al-Hajj said in a statement to Al-Maalouma, "The American strategy is constant, no matter how the faces and personalities of the Middle East change, and one of its goals is to dominate energy sources and protect energy lines, and the main goal is to protect the Israeli Zionist entity," noting that "the United States' exit from Iraq is just talk on paper. “
He added, "The confidence of the Iraqi government and its officials in the Americans is just a mirage, and the biggest evidence is the statement by the American General McKenzie to keep 2,500 fighters in Iraq, which revealed the falseness of the announcement of their exit by the National Security Adviser and the negotiating delegation."
In a previous statement to Al-Maalouma, a member of the Al-Fateh Alliance, Muhammad Al-Baldawi, demanded that the government clarify the truth of the contradiction between the statements of National Security Adviser Qassem Al-Araji and the US Army Commander in the Middle East, General McKenzie, regarding the fate of the American combat forces.
70 Exchange companies resume their work in Nineveh
Việt Nam Stock Exchange officially debuts
The Việt Nam Stock Exchange (VNX) was officially put into operation on Saturday morning, marking a new development for the domestic stock market.
The opening ceremony was held directly in Hà Nội and HCM City and held online at some places by the Ministry of Finance.
At the event, Deputy Prime Minister Lê Minh Khái handed the operations over to the Board of Directors of VNX.
According to the establishment decision, the exchange will operate under the parent-subsidiary model as per the rearrangement of the Hà Nội Stock Exchange (HNX) and the Hồ Chí Minh Stock Exchange (HoSE).
VNX has a charter capital of VNĐ3 trillion, with the headquarters located in Hà Nội, and is a limited company with 100 per cent capital owned by the State.
The exchange is also the parent company holding 100 per cent of capital in HNX and HoSE.
After VNX comes into operation, HNX will have the main task of organising and operating the derivatives, bond and other securities markets.
Meanwhile HoSE is responsible for organising and operating the stock market and other securities according to regulations.
The Deputy Prime Minister said that developing the stock market to create a medium- and long-term capital mobilisation channel for economic development was a consistent policy of the Party and State.
Khái also said attention needed to be paid to the modernisation of technology infrastructure to master and strengthen the application of science and technology.
Digital transformation to promote market development in combination with risk management, ensuring the safety of the stock market and meeting the growth demand of the country was also needed, he added.
Nguyễn Thành Long, chairman of the VNX’s Board of Directors, said that in the past, the size of the Vietnamese stock market was fragmented, indices were not consistent, and there was a lack of a general index that fully represented the whole market.
This has affected the position of the country stock market and the upgrade process. Therefore, the establishment and operation of VNX was necessary.
The consolidation and merger of exchanges is a reasonable trend and follows the international trend, Long added.
The restructuring and reorganisation of the exchanges will unify the stock market to ensure the market's efficient, fair, open and transparent operation, heading to a unified Vietnamese stock market.
Since September, the exchange has completed seven regulations and one plan to restructure the corporate bond market, which is expected to be issued this December.
According to the plan, the system of regulations will be officially applied and implemented in 2022.
In the medium term, Long said that VNX had directed HoSE and HNX to develop a 3-year plan, while VNX will develop a medium- and longer-term development strategy.
December 12, 21
Saleh discusses with McGurk an end to the combat role of the international coalition in Iraq
he President of the Republic, Barham Salih, received, on Sunday, the US National Security Council's coordinator for the Middle East and North Africa, Brett McGurk, and his accompanying delegation.
And the presidential media stated in a statement that “Nass” received a copy of it (12 December 2021), that “the meeting discussed bilateral relations between the two countries, developing them, and pushing them in various political, economic, cultural and environmental fields through the existing strategic dialogue between the two countries in a way that achieves common interests, along with Discuss ending the combat role of the international coalition, strengthening the capabilities of the Iraqi security forces through advice, and emphasizing the importance of combating terrorism and its remnants.
The developments of regional situations of common interest were also discussed, as the need to defuse the crises surrounding the region, and to support the paths of dialogue and convergence, to reduce tensions and prevent the outbreak of conflicts, was also discussed.
Salih stressed, "The important and pivotal role of Iraq in the region, as it represents an element of stability and consensus, and economic, commercial and developmental interdependence, in a way that achieves security and stability for the countries and peoples of the region
Damascus hosts the Iraqi-Syrian Business Forum
The work of the Iraqi-Syrian Business Forum kicked off this evening, Sunday, in the Syrian capital, Damascus, in the presence of the representative of the Iraqi Minister of Industry, the Director General of the Iraqi Industrial Cities Authority Hamid Al-Issawi, the head of the Iraqi Businessmen Union, Ragheb Blaibel, and a large number of industrialists, businessmen and traders from various Iraqi governorates and the Kurdistan Region of Iraq.
The representative of the Iraqi Minister of Industry said that the aim of participating in the recipient today is to complement the visit of the Iraqi government delegations that visited Syria during the previous months and attended in order to create understandings and real partnership that serves the two countries at the level of industrial cities and in various industrial fields.
For his part, the head of the Iraqi Businessmen Union, Ragheb Blebel, said that what links Iraq and Syria are great partners, and we attended today with a large number of businessmen in order to create joint programs that enhance economic and trade cooperation between the two countries.
For his part, Dr. Majid Al-Rukby, Secretary-General of the International Group of Businessmen and Women and Chairman of the Board of Directors of the Forum, stated today that Syria was honored to visit the Iraqi delegation participating in the Forum, and I and all the group’s cadres have worked hard for months for the success of the recipient and the creation of understandings and real companies that enhance the economic and industrial role of Iraq and Syria and from During the participation and invitation of a large number of Iraqi and Syrian traders, industrialists and businessmen from all governorates of Syria, with the aim of rapprochement and direct communication, and putting forward every small and large one that aims, develops and succeeds the work of the forum, which aspires to bring the views of all the participating units closer and which works to expand the economic, industrial and commercial work between Iraq and Syria
Iran to launch its own digital currency soon
The Governor of the Central Bank of Iran, Ali Salehabadi, announced today, Sunday, that "the national digital currency will be launched soon on a trial basis."
During a meeting with the heads of missions of the Islamic Republic of Iran in neighboring countries, Ali Salehabadi said: "With regard to liberating our sources of hard currency, good measures have been taken, and the capabilities of the Central Bank to manage the foreign exchange market have doubled."
Abadi added: "The Central Bank is working seriously to facilitate the securing of foreign exchange from small exporters, in cooperation with the competent authorities and through specific mechanisms
The Central Bank: The stage requires an effective banking sector to keep pace with investments
Today, Sunday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, opened the activities of the Iraqi Banking Week at the Iraq pavilion at the Dubai Expo 2020.
The activities were launched in the presence of the President of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the President of the Association of Iraqi Private Banks, Wadih Al-Handal, and a number of general managers of the Central Bank and heads of bank boards.
The Governor of the Central Bank said, "The launch of the activities of the Banks Week in the Iraq Pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world," adding that the supervision of the Central Bank "contributed significantly to the development of the banking sector."
He explained that "there are many Iraqi banks that have begun to expand outside Iraq, and this is what made them obtain good ratings by the competent financial institutions," noting that Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments.
The governor noted that "all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector."
On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector.
Al-Hamidi said, "The Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks."
In turn, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, said that "the event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong beginning, to revitalize banking relations with the outside world," noting that "the banking sector today represents a major point in the development of the country’s economy.”
He pointed out that "the participation of banks and electronic payment companies in the activities of the Banking Week represents a strong and clear message to the world, that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks."
It is noteworthy that the Iraqi Banks Week, at Expo 2020 Dubai, includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.
The Opening Of The Activities Of The Iraqi Banking Week At Expo 2020 Dubai
The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, opened the activities of the Iraqi banking week in the Iraq pavilion at Expo Dubai 2020, in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi.
In a statement, he said, “The launch of the Banking Week activities in the Iraq pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world, adding that the supervision of the Central Bank contributed significantly to the development of the banking sector.”
He explained that "there are many Iraqi banks that began to expand outside Iraq, and this is what made them obtain good ratings by the competent financial institutions," noting that "Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments."
He pointed out that all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector.
On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector.
Al-Hamidi said, "The Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks, indicating that we commend the measures taken by the Central Bank of Iraq."
On the other hand, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, said that "the event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start, to revitalize banking relations with the outside world," noting that "the banking sector today represents a big point. in developing the country's economy.
It is noteworthy that the Iraqi Banks Week, at Expo 2020 Dubai, includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the UAE.
Central Bank Governor: Iraq has become an attractive arena for investments
The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, inaugurated today, Sunday, the activities of the Iraqi banking week in the Iraq pavilion at Expo Dubai 2020, in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, and a number of general managers in The Central Bank and the heads of the boards of banks
Makhif said, according to a statement by the Central Bank, that the launch of the Banking Week activities in the Iraq pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world, adding that the supervision of the Central Bank contributed greatly to the development of the banking sector
He added scary, that there are many Iraqi banks began to expand outside Iraq, and this is what made them obtain good ratings by the competent financial institutions, indicating that Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments
The Governor of the Central Bank pointed out that all indicators of the Iraqi banking sector are constantly escalating, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector
In the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector
Al-Hamidi said that the Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks
For his part, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said that the event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start. To revitalize banking relations with the outside world, noting that the banking sector today represents a major point in the development of the country's economy
Al-Handal noted that the participation of banks and electronic payment companies in the Banking Week activities represents a strong and clear message to the world, and that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks
It is noteworthy that the Iraqi Banks Week at Expo 2020 Dubai includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates
Launched a week with a high official presence
Iraqi banks evoke the Emirati experience
More than 40 Iraqi banks recalled the Emirati experience in the field of banking, by launching a special week at the Republic of Iraq pavilion at Expo 2020 Dubai, in the presence of a high-level official Iraqi and Arab, and with the participation of a group of specialists and those concerned with banking affairs
Prior to the launch of the Iraqi Banking Week, His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, Commissioner-General of Expo 2020 Dubai, met with Mustafa Ghaleb Mukhaif, Governor of the Central Bank of Iraq, where the importance of cooperation between the two countries was emphasized, especially in the field of banking relations
Emirati experience
Those in charge of a group of Iraqi banks are studying many axes and perceptions aimed at revitalizing, developing and developing the Iraqi banking work, especially with regard to the technical aspects represented in the work of what is known as “correspondent banks”, in light of invoking the best model and closest to the Iraqi reality, which is the experience The UAE is ahead of its counterparts in the region, and works to open new horizons of cooperation and mutual relations, and conclude agreements and conclude solid partnerships
The Iraqi Banks Week at Expo 2020 Dubai includes many banking activities, including informing the public about the banking services provided by Iraqi banks, and holding bilateral meetings between Iraqi banks and their counterparts in the UAE with the aim of exchanging experiences, and getting acquainted with the latest developments in banking work in the world
Mustafa Ghaleb Mokhief, Governor of the Central Bank of Iraq and Chairman of the Board of Governors of the Arab Monetary Fund, opened the activities of the Iraqi Banking Week in the Iraq Pavilion at the Dubai Expo, in the presence of Abdul Rahman Al-Hamidi, President of the Arab Monetary Fund, Wadih Nuri Handal, President of the Association of Iraqi Banks, and a number of managers The two years in the Central Bank, and the heads of a number of Iraqi bank boards.
Mustafa Ghaleb indicated that the launch of the Banking Week activities in the Iraq pavilion at the major global event contributes greatly to the openness of the Iraqi banking sector, Arab and international, noting that the supervision of the Central Bank has contributed greatly to the development of the banking sector in Iraq, stressing that There are many Iraqi banks, which began to expand their activities outside Iraq, which earned them new classifications by the specialized financial institutions
Mustafa pointed out that Iraq has become an attractive arena for diversified investments, which requires the existence of an effective banking sector to keep pace with those investments, indicating that all indicators of the Iraqi banking sector are on the rise. Iraqi banking sector
Arab banks
For his part, Abdul Rahman Al-Hamidi, head of the Arab Monetary Fund, praised the approach of the Central Bank of Iraq in how to work on developing the banking sector, pointing out that the Central Bank of Iraq is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks, praising the measures it takes The Central Bank of Iraq.
Forecasts of the effects of changes in the global economy on the Iraqi economy in 2025
Since the first quarter of 2020, the Iraqi economy has complex and accumulated challenges due to changes in the global economy and the slowdown in global economic growth due to the conditions of the US-Chinese conflict, the Corona pandemic, the drop in global oil prices in 2020, and its decline in rates of more than 70%, economic stagnation, and most countries of the world were affected by these repercussions, which It had its effects on the Iraqi economy, and what concerns us is what are the results of these repercussions and what are the expectations, effects and repercussions on the current economic reality in Iraq during the coming years until 2025.
In the light of the study and analysis, Mayati can be expected at the level of the global economic system and its repercussions on Iraq:-
1- A decrease in growth rates is expected in the American economy and the economies of the European Union countries, as well as in China, but at lower rates, and recession and economic stagnation will prevail in most countries in the world. And the non-oil producing countries, especially after the new mutation of Corona entered more than 60 countries now, and it is expected that the number of countries will increase and it will certainly reach the Arab region and Iraq. Also, the inability of our health systems to withstand and confront will cause prices to rise, unemployment will increase, the number of those below the poverty line will double and citizens in different economic sectors will lose their jobs
The new global economic system that humanity is waiting to appear after the Corona crisis will inevitably be formed and will have clear economic and financial leadership for America and China, and the Silk Road will activate to include the countries that it was planned to go through to revive their economies, including Iraq and some Arab countries, and that this has positive and negative repercussions on the economy.
3- Likewise, the philosophy of economic management will, in most cases, shift from a capitalist market economy to a social market economy that is currently adopted as a disciplined ideology, as in China, and to state capitalism in Eastern Europe, as is the philosophy of Russia now.
They are just early expectations, and the Arab economy will mostly be dependent on the new, largest and most powerful economic pole, so what is required of the economic decision-makers in the countries of Iraq regarding these developments and changes that will sweep the world economically.
I see, with a penetrating analytical view of the current economic reality, that we urgently need a radical comprehensive economic change that adopts the following main axes:-
First - Re-change the map of national income resources by reducing dependence on oil as a major resource by activating other resources during the next four years, to bring them to 30% and to 50% within the next ten years of the total resources.
Second, a radical and comprehensive change of agricultural, industrial, commercial, oil and water policies by adopting local resources in securing food security, encouraging, protecting and supporting the Arab and Iraqi local product, setting programs and strategies in consumer protection, and emphasizing Arab economic integration.
Third - Supporting, developing and motivating the private sector and benefiting from its capabilities, capabilities, capital and investments in building the national economy and involving it in economic decision-making and management of the economy.
Fourth - Drawing clear strategies for coordination between monetary and financial policies, drawing clear financial policies, and restoring the foundations for preparing and presenting annual public budgets on the basis of programs and not items.
Fifth- Develop a new methodology to overcome the challenges of instability in the financial system and the monetary system, which means developing coordination and balanced plans to overcome the challenges of monetary policy and the challenges of the deficit in non-oil revenue, the deficit in the balance of payments and the trade balance, and the contribution rate of the productive sectors (real economy in GDP).
* Advisor to the Association of Iraqi Private Banks
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