Al-Sudani receives a delegation from JPMorgan Bank
Al-Sudani receives a delegation from JPMorgan Bank
Prime Minister Mr. Mohamed Shiaa
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Today, Thursday, the Prime Minister, Mr. Mohamed Shayaa Al-Sudani, received a delegation from JPMorgan Bank, which included Messrs. Daniel Zeliko, Deputy Director of the Bank, and the Director of the Bank's Public Sector Group in the Middle East, Ghali Laraki.
During the meeting, support for the banking sector, the Central Bank of Iraq and the private sector was discussed. International trade, risk management and expansion of non-oil revenues were also discussed, which is one of the government's most important priorities, which it is working on as part of its plans for financial and administrative reform.
The Prime Minister referred to the role of JPMorgan Bank in establishing the Trade Bank of Iraq (TBI), which is today the commercial banking window of Iraq to the world, stressing that Iraq is on the verge of a major reconstruction movement in all sectors.
His Excellency announced his government's welcome to open branches of the bank in Iraq, and its full readiness to provide support to international banks in Iraq. Because it represents the basis of the banking system that provides guarantees to investors, foremost among which is the JP Morgan Bank, calling for the continuation of support provided to the Central Bank of Iraq and the development of the Industrial Bank to be qualified for development and investment, as happened previously with the Trade Bank of Iraq.
Mr. Al-Sudani affirmed that the government is continuing to reform the banking system in Iraq, whether it is related to the public or private sector, correcting the movement of funds and supporting global trade as well as supporting the private sector and stopping money laundering operations by complying with and improving international standards, indicating that the government has drawn up a budget for three years, It is happening for the first time, and this budget will support the private sector through the Iraqi Fund for Development, or through agricultural and industrial projects in it.
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Media Office of the Prime Minister
8-June-2023
Al-Alaq confirms that the Central Bank of Iraq is serious about supporting the small and medium enterprises initiative
The Director General of the Private Sector Development Department at the Ministry of Commerce, Muhammad Hanoun, announced that the Central Bank of Iraq will support the initiative to support small and medium enterprises, in a way that contributes to supporting large sectors of society.
And the department stated in a statement, that "its general manager met with the Governor of the Central Bank, Ali Mohsen Al-Alaq, and discussed with him the initiative to support small and medium enterprises."
Hanoun pointed out that "the meeting with the Governor of the Central Bank was positive and fruitful and resulted in directives to provide financial support for small and medium enterprises to groups of the private sector that seek financial support," noting that "a large number of unemployed youth are looking for self-financing sources for the purpose of supporting their projects." In a way that contributes to achieving self-sufficiency and developing their businesses in line with their professional specializations.
He added, "The Private Sector Development Department in the Ministry of Commerce works in various ways to find sources of financing for small and medium enterprises, based on what was stated in the government program that emphasizes the support of the private sector."
He pointed out, "The meeting with the governor will achieve positive results, to support these projects and to go to large segments of society looking for financial support."
He explained, "Small and medium enterprises are distinguished by their high ability to provide job opportunities and need relatively low capital to start activity in them, and they are also characterized by their ability to employ semi-skilled and unskilled workers and give an opportunity for on-the-job training to raise capabilities and skills," noting that "these projects The risk ratio is lower compared to the big companies and contribute to improving productivity and generating and increasing income.”
For his part, the Governor of the Central Bank stressed, "The importance of coordination with a private or government bank, for the purpose of providing material support from the Central Bank to spend on these projects in a manner consistent with the instructions and laws in force."
Iraq and Switzerland are looking to build partnerships in the financial and economic sectors
Minister of Finance Taif Sami Muhammad discussed, yesterday, Wednesday, with the Swiss Ambassador to Iraq, Emilia Georgieva, building partnerships to promote sustainable development in the financial, economic and investment sectors.
A statement by the ministry stated that "the Minister of Finance received the Swiss ambassador to Iraq, and during the meeting, they reviewed the most prominent issues and files of common interest, and ways to enhance bilateral relations by building partnerships to promote sustainable development in the financial, economic and investment sectors."
And the Minister of Finance renewed, according to the statement, "the government's desire to improve relations with Switzerland, and benefit from its advanced expertise in various fields, especially related to benefiting from the abundant investment opportunities in Iraq, and strengthening banking cooperation."
For her part, Georgieva expressed "her country's readiness to consolidate economic and financial relations with Iraq, especially in the fields of industry, trade exchange, banking cooperation and support for reform plans for the Iraqi economy."
New military operations for US forces in Iraq
The American magazine (Task and Barbs), concerned with military affairs, revealed that the American forces carried out 21 direct military operations inside Iraq, which they said targeted the terrorist organization ISIS.
The magazine stated, according to what was translated (Baghdad Today), that "the US military operations were carried out by direct orders from the Central Military Command of the US Army inside Iraq, in addition to 17 military operations in Syria, some of which were launched from Iraq."
It is noteworthy that the US forces announced in 2021 a complete cessation of military operations in Iraq and commitment to the task of “training and advising” the Iraqi forces exclusively, which contradicted what the magazine revealed and proved the continuation of military operations on the ground despite the previous official US announcement.
Starting the implementation of the Gulf electric link with Iraq next week
On Thursday, the CEO of the Gulf Electrical Interconnection Authority, Ahmed Al-Ibrahim, announced the start of implementing the electrical connection with Iraq next week.
Al-Ibrahim said, "The ceremony of starting the implementation of the electrical interconnection with the Republic of Iraq next week represents the first work for a period of years between the two sides, to crystallize the interconnection project between the countries of the Cooperation Council and Iraq."
He added, "The project will supply southern Iraq with electric power, and is the first step in cooperation and trade exchange between the GCC countries and Iraq in the long run."
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Saudi Arabia: We continue to support the efforts of the international coalition to eliminate "ISIS"
Speech by the Minister of Foreign Affairs during the opening of the ministerial meeting of the coalition in Riyadh.
Saudi Arabia affirmed, on Thursday, its continued support for the efforts of the international coalition to eliminate the terrorist organization "ISIS".
This confirmation came in a speech by Saudi Foreign Minister Prince Faisal bin Farhan during the ministerial meeting of the US-led international coalition against "ISIS" in the Saudi capital, Riyadh.
"The Kingdom has always believed that the path to security, stability, development and prosperity requires the continuation of our collective efforts to fight terrorism and its criminal group and confront extremist ideology," according to the Saudi Al-Ekhbariya channel.
He added, "My country will continue to make every effort to support the coalition's efforts to eliminate ISIS and eliminate its extensions wherever it may be, confront its satanic attempts and dry up its funding sources."
Referring to Saudi Arabia's contribution to reconstruction projects in Iraq, Ibn Farhan affirmed that the Kingdom "is very keen on the stability of those countries in which that organization was located, including Syria and Iraq."
He continued, "I am pleased to announce the Kingdom's accession to chair the focus group on African affairs to confront the dangers of regulation, along with Italy, the United States, Niger and Morocco."
And as part of its efforts to combat the organization, Saudi Arabia welcomed "the tendency to establish a focus group concerned with fighting ISIS in Khorasan Province in Afghanistan."
The International Coalition against ISIS was established in September 2014 to fight the organization in neighboring Iraq and Syria, and includes 85 countries and partner organizations.
Al-Sudani: The government is continuing to reform the banking system in Iraq
The Prime Minister, Muhammad Shia'a Al-Sudani, affirmed today, Thursday, during his meeting with a delegation from the US JP Morgan Bank, the government's seriousness in reforming the banking system in Iraq.
A statement by the Prime Minister's Media Office, received by (Baghdad Today), said, "Al-Sudani received a delegation from JP Morgan Bank, which included the bank's deputy director, Daniel Zeliko, and the director of the bank's private sector group in the Middle East, Ghali Laraki."
The statement added, "During the meeting, support for the banking sector, the Central Bank of Iraq and the private sector was discussed, and international trade, risk management and expansion of non-oil revenues, which represent one of the most important priorities of the government, which it is working on as part of its financial and administrative reform plans, were also discussed."
The Prime Minister referred, according to the statement, to "the role of J.P. Morgan Bank in establishing the Trade Bank of Iraq (TBI), which is today the commercial banking window for Iraq to the world," stressing that "Iraq is on the verge of a large reconstruction movement in all sectors," announcing " His government’s welcome to open branches of the bank in Iraq, and its full readiness to provide support to international banks in Iraq, because it represents the basis of the banking system that provides guarantees to investors, and JPMorgan Bank comes at the forefront, calling for “the continuation of support provided to the Central Bank of Iraq and the development of the Industrial Bank to be qualified for development and investment, as happened previously with the Iraqi Trade Bank.
He continued by saying, "The government is continuing to reform the banking system in Iraq, whether it is related to the public or private sector, correcting the movement of funds and supporting global trade as well as supporting the private sector and stopping money laundering operations by complying with and improving international standards," noting that "the government has set a budget For three years, which is happening for the first time, and that this budget will support the private sector through the Iraqi Fund for Development, or through agricultural and industrial projects in it.
The secrets of the international coalition meeting in Riyadh.. Washington is "angry" and is rearranging its cards with Saudi Arabia
Today, Thursday, the Associated Press revealed details of what it said were the reasons that prompted the United States to hold the meeting of the international coalition in the Saudi capital, Riyadh, stressing that Washington is "angered" by Saudi Arabia's moves and its attempts to "transform into an international power outside the control of the United States."
And the agency stated, according to a report translated by (Baghdad Today), that US Secretary of State Anthony Bilkins is now trying to "reassess" the decade-old alliance with Saudi Arabia after its recent moves, which Washington described as "bringing it closer to its enemies," stressing that Riyadh until now "is still It rejects Washington's efforts to force it to pump oil again and reduce its international prices, following its recent decision to reduce exports within OPEC.
The agency also indicated that Saudi Arabia, which has "cooped" with Russia and Venezuela during the recent period, is now trying to turn into an "international player outside the control of the United States of America," stressing that it has also moved towards "America's allies," including Ukraine, which invited its president, Volodymyr Zelensky, to attend the summit. Arabia without Washington's approval, according to its description.
Parliament adjourns its session to one o'clock on Friday afternoon
Parliamentary Media Department: adjourning the parliament session to one o'clock this afternoon, Friday
The Iraqi parliament voted, early on Friday, on 6 articles of the tripartite federal budget law, while the session was adjourned after a number of articles were postponed for later approval.
Shafaq News Agency reporter from inside Parliament said that the House of Representatives held a parliamentary session devoted only to voting on the tripartite federal budget, headed by Muhammad al-Halbousi, in the presence of (258) deputies.
The correspondent added that the deputies voted to pass (6) articles only, while an article was postponed and another was deleted from the budget law, while the session was adjourned to Friday to vote on the remaining paragraphs.
Late Thursday night, the Iraqi parliament approved the exchange rate of the Iraqi dinar at a value of 1,300 dinars against one dollar, with a financial income of $70 per barrel of oil.
Earlier on Thursday evening, sources told Shafaq News agency that were present at the meeting of the Parliamentary Finance Committee, "A number of members of the committee actually asked the Legal Committee to give only 24 hours to read the budget law, provided that this be with the approval of the Presidency of Parliament." .
The sources added, "There is preliminary approval from the Presidency and the Parliamentary Legal Committee, but so far it is not official regarding this request."
For her part, the deputy in the Legal Committee, Iman Abdel-Razzaq, confirmed to Shafaq News agency, "The existence of this proposed deadline by members of the Finance Committee for their counterparts in the Legal Committee, and the informal approval so far from the Presidency of Parliament."
In turn, a member of the Parliamentary Finance Committee, Maeen Al-Kadhimi, told Shafaq News agency, "The Kurdistan Regional Government and the federal government have reached an important agreement regarding Articles 13 and 14 of the General Budget Law, which relate to the mechanism of exporting oil from the region through the (SOMO) company and depositing the amounts in an account in the Central Bank." , indicating that "the head of the Council of Ministers of the region has the authority to disburse the amount from this account."
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