Iraq Economic News and Points to Ponder Saturday Afternoon 4-19-25
Al-Nusairi Confirms That The Central Bank's Approach To Banking Reform And Development Contributes To Accelerating Iraq's Accession To The World Trade Organization
Banks Economy News – Baghdad During his participation in the specialized workshop held by the Ministry of Trade to discuss Iraq's accession to the World Trade Organization, Samir Al-Nusairi, Economic and Banking Advisor, emphasized the role of the banking sector in contributing to accelerating Iraq's accession to the organization and the important role of the financial and banking sector in it.
He pointed to the measures achieved in 2023 and 2024 by the Central Bank in cooperation with the government, mainly regarding the regulation of foreign trade financing, the electronic platform, and direct work between banks and international correspondent banks, based on the approved reform and development methodology, official data, and monetary policy indicators for 2024 and the plan for 2025 and 2026, in cooperation with international consulting companies specialized in this field, and compliance with financial globalization and international standards adopted by WTO member states.
Al-Nusairi explained the main points of the banking reform project launched by the Central Bank this month in the presence and participation of the Prime Minister.
He pointed out the customs war launched by the US administration and its effects in the medium and long term on the principles of unifying customs duties.
Customs duties of the member states of the organization, and what are the means of confrontation that will be adopted by the World Trade Organization and the CAT organization concerned with regulating customs duties at the international level.
The workshop was attended by members of the National Governmental Committee for Joining the Organization, in which Iraq currently holds observer status along with 21 other countries, out of 166 countries with full membership. Representatives of relevant ministries, the private sector, and unions were also present. https://economy-news.net/content.php?id=54595
Al-Sudani: We Seek To Expand The Military Industries Base In Iraq.
Posted on2025-04-19 by sotaliraq 2025-04-19 Prime Minister and Commander-in-Chief of the Armed Forces Mohammed Shia al-Sudani stressed on Saturday his government's efforts to develop and expand Iraq's military industries base.
This came in a speech he delivered at the launch of the 13th Security, Defense, Military Industries, and Cybersecurity Exhibition, being held in the capital, Baghdad.
In his speech, Al-Sudani said, "Through this exhibition, we are clearly seeking to expand the military industries base in Iraq after we established its foundations through laws and the Military Industrialization Authority, and the roar of factories has begun at the level of qualifying light and medium equipment and other military requirements."
He added, "The concept of security is increasingly complex today, encompassing aspects and platforms that did not constitute a security challenge or threat in and of themselves. However, the expanding scope of capabilities available to terrorist and criminal organizations, and the multiplicity of outlets through which they can practice terrorism, crime, recruitment activities, or information hacking, all of this requires special effort and early action, conscious of the importance of fortifying our information systems."
Al-Sudani emphasized the need to preempt the criminal mind with cybersecurity measures, as threats are no longer limited to traditional areas or the human factor of hacking. He explained, “In this regard, our government is working on multiple tracks, including building and training specialized security cadres for information security and electronic protection of service and financial applications, preparing countermeasures for any expected cyber attacks, and securing government data and protecting it from hacking.” LINK
Basra Oil Achieves Weekly Gains
economy | 10:36 - 04/19/2025 Mawazine News – Baghdad Basra Heavy and Medium crude oil posted weekly gains after a significant rise in the last session of the week. Basra Heavy crude closed up $1.34 to $65.31, achieving weekly gains of $3.62, or 5.87%. Basra Medium crude also rose $1.34 to $68.46, achieving weekly gains of $3.44, or 6.29%. https://www.mawazin.net/Details.aspx?jimare=260814
The dollar price fell in Baghdad and stabilized in Erbil
Saturday, April 19, 2025, 5:46 PM | Economic Number of reads: 94 Baghdad / NINA / The dollar prices decreased in Baghdad markets, while they stabilized in Erbil Governorate today.
The dollar prices recorded a decrease with the closing of Al-Kifah and Al-Harithiya stock exchanges, reaching 146,750 dinars for every $100, while the prices recorded this morning 146,900 dinars for every $100.
Selling prices decreased in exchange shops in the local markets in Baghdad, where the selling price reached 147,750 dinars for every $100, while the purchase price reached 145,750 dinars for every $100.
In Erbil, the dollar recorded stability, as the selling price reached 147,050 dinars for every $100, and the purchase price was 146,950 dinars for every $100. /End https://ninanews.com/Website/News/Details?key=1198792
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