Some “Iraq News” Posted by Clare at KTFA 3-20-2025
KTFA:
Clare: A Government bank launches "electronic loans" for four categories
3/20/2025
The state-run Rashid Bank announced on Thursday the launch of personal loans for employees, security forces personnel, and retirees whose salaries are domiciled at the bank, as well as entrepreneurship loans.
The bank clarified in a statement received by Shafaq News Agency, "The application must be submitted exclusively through the Rasheed Bank's electronic application." LINK
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Clare: A government meeting discusses the establishment of a private company for the development road project.
3/20/2025
Prime Minister Mohammed Shia al-Sudani chaired the regular meeting of the Higher Committee for Monitoring the Implementation of the Development Road Project on Thursday, in the presence of the Ministers of Transport and Industry, the Chairman of the Investment Commission, the Chairman of the Iraq Development Fund, the Director General of Ports, and representatives of Oliver Wyman, which is providing consulting services for the project.
A statement from the Prime Minister's Office, a copy of which was received by {Euphrates News}, stated that "the meeting followed up on the project's developments, the progress of work in all its details, and discussed establishing a private company for it, in addition to matters related to the conflicts that affect the progress of work on the railway and the highway, the designs of which have been completed, and the progress made in the subject of expropriations, antiquities, and the treatment of the remains of minefields."
The statement added, "The meeting reviewed the Grand Faw Port project and its key developments, such as the submerged tunnel and container yard. A vision was presented regarding the port's expected imports over the coming years, in addition to discussing the costs of insurance and maritime services."
The meeting discussed "the issue of identifying and arranging economic opportunities for the financial model, as well as discussing the investment zones that will be offered for investment along the development path." LINK
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Clare: Iraq attempts to encourage Amazon to build facilities in Iraq
3/20/2025 Baghdad –
The Director of the General Company for Post and Savings, Zainab Abdul-Sahib, revealed on Wednesday that the Iraqi Ministry of Communications is trying to encourage Amazon and SHEIN to establish branches in Iraq.
In a statement to the state news agency (INA), Abdul-Sahib said that the required facilities and warehouses to establish branches of international e-commerce companies in Iraq have been set up.
The Iraqi official explained that the launch of an e-commerce platform in Iraq has become imminent.
Plans have been developed for 2025 following the establishment of the fundamental infrastructure by the Ministry of Communications, according to Abdul-Sahib.
In order to stay up with global developments, the Iraqi government started planning in 2023 to turn the country’s postal system into automated services as part of its digital transformation initiatives.
Increased internet penetration and changing consumer behavior are two factors that have contributed to the enormous growth in e-commerce in Iraq in recent years. Additionally, this change has increased Iraq’s need for trustworthy e-commerce platforms. LINK
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Clare: US Urges Iraq to Reach Agreements to Allow Resumption of Kurdish Oil Exports
3/20/2025
WASHINGTON DC, United States (Kurdistan 24)
Addressing reporters on Wednesday, State Department Spokesperson Tammy Bruce explained that the U.S. was “urging the Iraqi Government” to reach an understanding with the international oil companies to allow the resumption of oil exports from the Kurdistan Region.
According to Iraqi authorities, those exports are to restart shortly. although the international oil companies say that more discussion is needed to reach an agreement that will allow for the export of Kurdish oil.
As one knowledgeable source told Kurdistan 24, that developments have come as far as this has a lot to do with the pressure exerted by the Trump administration on Baghdad, including the pro-Iranian elements there.
As a second source affirmed to Kurdistan 24, the Trump administration is very friendly toward the Kurdistan Region.
That was apparent, for example, in a post last week by President Donald Trump on X, highlighting the role of the Peshmerga in the recent assassination of a key ISIS figure.
"Today the fugitive leader of ISIS in Iraq was killed,” Trump wrote last Friday. “His miserable life was terminated, along with another member of ISIS, in coordination with the Iraqi Government and the Kurdish Regional Government.”
Background to Oil Export Dispute
Kurdish oil exports stopped in March 2023, when the International Court of Commerce (ICC) ruled in favor of Iraq in a dispute that was first brought to the court by Nouri al-Maliki eleven years before—in 2012—when Maliki, a strongly sectarian Shi’ite figure, was Iraq’s prime minister.
In fact, Maliki’s governance was judged to be so partisan that the Obama administration concluded that he had been a significant factor behind the rise of ISIS. Thus, it demanded his resignation as a pre-condition for returning U.S. troops to Iraq in order to fight the terrorist group, which had emerged suddenly out of the Syrian civil war.
It took nine years for the ICC to issue its ruling that the export of Kurdish oil through the Iraq-Turkey Pipeline (ITP) contravened the original 1973 agreement concerning exports through that pipeline. And now it has taken another two years to reach the point where, it seems, Kurdish oil exports will soon resume.
Of course, these problems could have been resolved much more quickly, but there was little desire to do so in Baghdad—until the Trump administration focused on the issue.
State Department Position
Bruce was asked about the U.S. role in promoting the resumption of Kurdish oil exports.
“We’re urging the Iraqi Government to reach an agreement .. . with the international oil companies to resume oil exports through the Iraq-Turkey pipeline as soon as possible and to honor the existing contracts with U.S.companies,” she replied.
“Reopening the ITP ensures Iraqi oil can reach global, especially European markets,” she continued. “Iraq benefits from the stability of resilient supply chains, as do we all.”
The Trump administration has been focused on cutting off Iranian oil exports, as part of its maximum pressure campaign. Bringing additional sources of oil online helps to reduce the resulting pressure on international oil prices, so it, too, has a strong interest in the resumption of Kurdish oil exports. LINK
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Clare: Al-Alaq: We are working to establish a data center that represents a successful foundation for digital transformation.
3/20/2025 Baghdad
Central Bank Governor Ali Al-Alaq confirmed on Thursday that the digital currency the bank intends to launch will enhance transparency and limit the flow of cash out of banks. He also revealed plans to establish a data center that will serve as a successful platform for digital transformation.
Al-Alaq said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News," that "financial technologies are developing rapidly, in line with the requirements of the financial and banking sector in terms of speed, accuracy, and economic efficiency, in addition to transparency and oversight. The reality of the digital revolution is imposing itself on all sectors, including the financial and banking sector, which is the most beneficiary of the major transformations taking place."
He added, "Digital currency can serve many purposes, limit the leakage of cash outside banks, and achieve a high degree of transparency, as funds can be tracked, whether in the areas of consumption, investment, savings, or even in legitimate and illegitimate businesses. It also provides important databases for analytical purposes, not just for the movement of paper money, in addition to the economic benefits digital currency offers from printing and tracking currency."
Al-Alaq confirmed that "we have begun taking steps in coordination with international organizations to review initial experiments in the digital currency file, which we do not wish to delay." He explained that "there are existing experiments in some countries in the region, and we are also following up with the Arab Monetary Fund to develop appropriate steps in this direction, and what is required is infrastructure.
" He continued, "The Central Bank has advanced infrastructure, as the new bank building contains a sophisticated data center, and we are also working to establish a data center that will represent a successful foundation for digital transformation." LINK
