Iraq Economic News and Points to Ponder Sunday Afternoon 4-13-25
Al-Sudani: The Return Of The Arab Bank Is Important And Reflects The State Of Political And Economic Stability
Banks Economy News – Baghdad Prime Minister Mohammed Shia al-Sudani stressed on Sunday that the return of the Arab Bank is important and reflects the state of political and economic stability.
The Prime Minister's media office said in a statement seen by Al-Eqtisad News, "Prime Minister Mohammed Shia al-Sudani received, today, Sunday, a delegation from the Arab Bank, headed by Sabih al-Masri, Chairman of the Bank's Board of Directors, accompanied by a number of members of the Bank's Board of Directors, on the occasion of the upcoming opening of the Bank's branch (Arab Bank/Iraq) in the capital, Baghdad."
He added, "During the meeting, they discussed enhancing cooperation between Iraq and the bank in the financial and banking fields, and the bank's participation in financing various investment projects."
The Prime Minister emphasized that "Arab Bank has had a direct presence in Iraq for nearly eighty years," explaining that "its return now is significant and reflects the political and economic stability the country is currently experiencing."
The Prime Minister pointed out "the importance of the bank's activities not being limited to providing financial services, but rather contributing to the country's development and economic stability," stressing "the government's readiness to provide all forms of support and assistance to enhance Arab and foreign banking activity, serving the Iraqi economy and its development."
For its part, the bank's delegation expressed its "willingness to finance a number of investment projects and expand its banking activities, in a manner that will contribute to creating job opportunities and stimulating the economic sector." https://economy-news.net/content.php?id=54398
The Minister Of Commerce Discusses Ways Of Joint Economic Cooperation With The President Of The American Company (AGMS).
Sunday, April 13, 2025 | Economic Number of reads: 215 Baghdad / NINA / Minister of Trade Atheer Dawood Al-Ghariri discussed with the President of the American company (AGMS) ways of joint economic cooperation.
The Ministry of Trade said in a statement that "Minister of Trade, Atheer Dawood Al-Ghariri, met today, Sunday, with the President of the American company (AGMS), Dr. Eisen, and his accompanying delegation, and discussed with him the prospects of joint economic cooperation and ways for American companies to enter the Iraqi market.
During the meeting, the Minister stressed the importance of building real strategic partnerships with American companies, in a way that achieves common economic interests that benefit the national economy.
The two sides discussed the possibility of establishing an American hospital in Iraq, with the aim of transferring expertise and successful experiences in the field of health services, and strengthening the infrastructure of the health sector, which contributes to providing advanced medical services to citizens.
Minister Al-Ghariri expressed the ministry's readiness to provide all necessary facilities for the success of this initiative, stressing his full commitment to facilitating all procedures for American companies wishing to invest in Iraq, especially in vital sectors that have a direct impact on the lives of citizens.
For his part, the President of the company (AGMS) expressed his appreciation for the role of the Ministry of Trade in creating an attractive environment for investment, stressing that Iraq is a promising market for American companies, which Looking forward to expanding areas of cooperation, especially with regard to providing job opportunities for youth, and contributing to the development of vital services and infrastructure./End https://ninanews.com/Website/News/Details?key=1197440
The World Bank Announces Its Readiness To Provide Project Financing Facilities In Iraq.
Money and Business Economy News – Baghdad Prime Minister Mohammed Shia al-Sudani stressed on Sunday the importance of private sector projects receiving support from the World Bank.
The Prime Minister's media office said in a statement received by Al-Eqtisad News that "Prime Minister Mohammed Shia Al-Sudani received the World Bank's Vice President for the Middle East and North Africa Region, Ousmane Dione, and his accompanying delegation."
The World Bank delegation, according to the statement, reviewed "the projects under discussion with the ministries and relevant authorities in Iraq, in the railway, highway, and energy sectors, including the fixed gas platform in the port of Faw, and the Ministry of Electricity's plan for the coming years to expand electricity production, transmission and distribution, and other infrastructure projects.
" The Prime Minister appreciated "the World Bank's efforts in supporting Iraq," stressing the importance of "private sector projects receiving support from the bank through the International Finance Corporation (IFC)."
For his part, the head of the delegation expressed "the World Bank's readiness to stand with Iraq in its development renaissance in all fields, as well as its readiness to provide facilities in financing projects, including private sector projects." https://economy-news.net/content.php?id=54395
Ports Launch A Digital System For Controlling And Auditing Invoices.
The Border Ports Authority has adopted an integrated digital system that includes pre-inspection programs, import license verification, sonar linking, and electronic goods analysis. This is part of a government plan to improve customs work efficiency and accelerate information exchange with relevant authorities.
The head of the ports, Major General Omar Al-Waili, said in a statement yesterday that “the border ports are now adopting electronic programs to verify the entry of goods and prevent smuggling, such as the pre-inspection program, the import license program, the exempted goods program, and the audit of invoices and certificates of origin.”
He added, “Pre-inspection also includes cross-referencing inspection results with inspection companies and the Standardization and Quality Control Authority, in addition to networking sonar and analysis of goods arriving into the country, and electronic communication with most departments operating at the border ports for integration, coordination, and electronic information exchange to quickly seize violating materials.”
The authority also seized 15 vehicles of substandard models intended for smuggling at the Umm Qasr Middle Port.
A statement received by Al-Zaman yesterday stated that “based on the directives of the Commander-in-Chief of the Armed Forces, Mohammed Shia Al-Sudani, the ports continue to implement operations to seize vehicles without the model permitted to be imported and intended to be smuggled by the weak-minded, as the Directorate of the Umm Qasr Middle Port, in cooperation with the Customs Center and Customs Police, was able to seize three 40-foot containers containing 15 Toyota Crown vehicles without the model permitted to be imported, prepared for smuggling.
” It indicated that “a formal seizure report was prepared and the vehicles were referred to the Umm Qasr Customs Police Station to take appropriate legal action against all those involved in the matter so that they receive their just punishment in accordance with the law.”
Smuggling Attempt
In a related development, the General Authority of Customs thwarted an attempt to smuggle two vehicles without the model allowed to be imported through Umm Qasr Port.
A statement received by Al-Zaman yesterday explained that “the Umm Qasr Middle Customs Center in Umm Qasr Port was able to thwart an attempt to smuggle two Jeep vehicles without the model allowed to be imported.
” The statement confirmed that “the seizure operation was carried out through joint cooperation with the Border Ports Authority and supporting government agencies in the port, with support from the Customs Police.”
The Authority had previously announced the activities of the customs centers and investigation and anti-smuggling departments.
The statement pointed out that "the Investigation and Anti-Smuggling Department of the Central Region Customs Directorate seized 11 trucks loaded with carpet, cardboard, silicone, plastic granules, cigarettes, motorcycles, spare parts, hair shampoo, and chicken breast," adding that "the Investigation and Anti-Smuggling Department of the Northern Region Customs Directorate succeeded in seizing four trucks loaded with household supplies, accessories, iron, milk, motorcycles, and spare parts."
The statement continued, "The Arar Border Customs Center arrested the owner of a Tahoe tourist vehicle with Dubai license plates who was intending to leave for the Kingdom of Saudi Arabia without paying the late fees due on the vehicle."
Meanwhile, the National Security Service foiled two drug smuggling operations using innovative methods after hiding the drugs in electrical devices and sandals.
A statement received by Al-Zaman yesterday said that "the Service's detachments succeeded in thwarting two separate attempts to smuggle drugs in the governorates of Baghdad and Basra, revealing various methods used by smugglers to conceal these toxins."
Professional Style
He added, "The detachments succeeded in arresting a drug dealer who used a professional method of hiding narcotics inside electrical appliances and equipment. The operation resulted in the seizure of 700 grams of crystal meth inside these devices.
" He confirmed that "the apparatus' detachments in Basra carried out a second special operation that resulted in the arrest of another suspect who used a different method, as he deliberately hid 400 grams of crystal meth inside a sandal."
Meanwhile, Interior Minister Abdul Amir Al-Shammari directed the formation of 226 main and sub-committees to inspect and evaluate the work of police stations in Baghdad and the governorates.
A statement received by Al-Zaman yesterday said that "Al-Shammari chaired a conference of the main and sub-committees of the Baghdad and governorate police commands, in the presence of the Undersecretary of the Ministry for Police Affairs, where he directed the formation of more than 226 main and sub-inspection committees to evaluate the work of police stations in 16 police commands in the governorates." Al-Shammari stressed that "the committees must submit their reports within seven days of commencing their work." LINK
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