Iraq Economic News and Points to Ponder Wednesday Afternoon 10-11-23

Tlm724 Administrator Bondlady’s Corner

Al-Sudani: Iraq Is Looking Forward To Joining The BRICS Group

Political | 01:34 - 11/10/2023   Baghdad - Mawazine News  Iraqi Prime Minister Muhammad Shiaa Al-Sudani said that his country is ready to join the BRICS group, if it receives an invitation from the founding countries.

Muhammad Shiaa Al-Sudani said during a dialogue session with representatives of the Iraqi community in Russia, “Iraq understands the role played by the group and is aware of the conditions and specifications for joining it.”

Al-Sudani indicated that he discussed with Russian President Vladimir Putin a wide range of economic issues, including the use of the Iraqi dinar and the Russian ruble in commercial transactions between the two countries.

He stressed that he was grateful for Russia's principled position on the Palestinian issue, noting that he discussed this issue with President Putin in depth and out of concern for the lives of civilians.

Al-Sudani revealed that Iraq is in the process of studying a project to open an Iraqi cultural center in the Russian capital, Moscow, based on the deep historical relations that bind the two countries, which will reach its eightieth anniversary next year since the establishment of diplomatic relations between Moscow and Baghdad. Ended 29/h    https://www.mawazin.net/Details.aspx?jimare=236215

Al-Sudani Confirms That The Government Is Moving Forward With Implementing Economic, Administrative And Service Reforms That Will Be Affected By The Iraqi Street

Political | 11/10/2023   Baghdad - Mawazine News   Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Wednesday, that the government is moving forward with implementing economic, administrative and service reforms that will affect the Iraqi street.

Al-Sudani's office stated in a statement, a copy of which Mawazine News received, that "Prime Minister Muhammad Shia' al-Sudani met with a group of the Iraqi community residing in the Russian Federation, on the sidelines of his official visit to Moscow, at the invitation of Russian President Vladimir Putin."

He added, "During the meeting, the Prime Minister listened to a comprehensive presentation about the conditions of the Iraqi community, the progress of their affairs, their requirements, and the most important obstacles and difficulties they face in their residency."

In his speech to the community’s elite, the Prime Minister affirmed, “The government is moving forward with implementing economic, administrative, and service reforms that will touch the Iraqi street, and will fulfill the people’s ambitions and what they expect from the government.”

He pointed out "the importance of the contribution of Iraqi competencies, wherever they are, to building Iraq and achieving the desired progress," expressing the "government's welcome to embrace all those who wish to contribute to development and reform."

He stressed that "the government is committed to supporting Iraqi citizens everywhere, and is keen to facilitate their affairs, provide them with all administrative services, and take care of their affairs." Ended 29/H    https://www.mawazin.net/Details.aspx?jimare=236212

Economist: Changing The Official Exchange Rate Is A “Big Mistake” And It Is Addressed By Reducing Imports

Time: 2023/10/11 18:00:59 Read: 390 times  {Economic: Al-Furat News} The economic expert, Abdul Rahman Al-Mashhadani, described changing the official exchange rate as a “big mistake.”

Al-Mashhadani said {to Al-Furat News} that: “The dollar exchange rates will not reach 200 thousand Iraqi dinars,” ruling out “changing the official exchange rate or reducing it further, because this would be a bigger error than the basic error.”

He pointed out, "This matter can be addressed by reducing imports from Iran, as commercial transactions are close to 30 million dollars annually."

Al-Mashhadani explained, “Funding these imports comes from the parallel market, in addition to government policy.”

The volume of trade exchange between Iraq and Iran, according to a statement by the Secretary-General of the Joint Iranian-Iraqi Chamber of Commerce, Jahanbakhsh Sanjabi Shirazi, amounts to 10 billion dollars annually.

Shirazi said, in an interview with IRNA news agency, yesterday, Tuesday: In light of the presence of eight official border crossings with Iraq, the cultural advantages, popular ties, and natural resources that God has blessed, the volume of trade between Iran and Iraq can be raised from 10 billion dollars to 20 billion dollars. Dollars annually.

He listed Iraq's main needs in 10 groups of mechanical and electrical machinery and transportation equipment, chemicals, agricultural products and food industries, clothing and textiles, metals and mineral products, stone and glass, leather and miscellaneous industrial goods. It now represents 65% of Iraq's imports.

Iraq imported an average of about 16 billion and 764 million dollars annually from these ten groups during the past five years. The highest amount of imports was agricultural machinery, at 30% of the total market, and the lowest amount, at 147 thousand dollars, was related to leather, at three-tenths of a percent.

Shirazi stated that the volume of trade between Iran and Iraq currently ranges between 10 and 12 billion dollars.    LINK

Center For Banking Studies: Anti-Money Laundering Training Contributes To Increasing Iraq's Ability To Confront The Phenomenon Of Money Laundering

The Center for Banking Studies at the Central Bank of Iraq held a ceremony for participants in internationally accredited training courses.

The ceremony, which was attended by a number of Central Bank officials, witnessed the distribution of approved certificates in the field of anti-money laundering and compliance to participants in the training courses and those who passed the exam to obtain (CGSS), (CAMS), (KYCS), and (CCM) certificates.

The Director General of the Center for Banking Studies at the Central Bank of Iraq, Dr. Bassem Abdul Hadi, indicated that obtaining this type of certificate for participants contributes to raising the ability of the banking sector in Iraq to confront the phenomenon of money laundering and terrorist financing and achieve international compliance requirements. Congratulations to the participants in these courses for the banking sector. The Iraqi.

It is noteworthy that the Center for Banking Studies of the Central Bank of Iraq provides dozens of training courses throughout the year in various banking fields, in addition to its cooperation with regional and international training centers. 10/11/2023 - https://economy-news.net/content.php?id=36917

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Points to Ponder on THE FOUR AGREEMENTS

 If you can implement these 4 things into your daily life  your  life will change -- and it will be  more  harmonious --  with less  suffering -  and less  negative  Karma -- it would be most helpful if you could  print these out - paste to an index card and carry with you or  place where you can be reminded of them until they are  fully into your conscious mind -- just  a kind heartfelt suggestion - your  choice --

The Four Agreements - Don Miguel Ruiz

Agreement 1 - Be impeccable with your word - Speak with integrity. Say only what you mean. Avoid using the word to speak against yourself or to gossip about others. Use the power of your word in the direction of truth and love.

Agreement 2 - Don’t take anything personally - Nothing others do is because of you. What others say and do is a projection of their own reality, their own dream. When you are immune to the opinions and actions of others, you won’t be the victim of needless suffering.

Agreement 3 - Don’t make assumptions - Find the courage to ask questions and to express what you really want. Communicate with others as clearly as you can to avoid misunderstandings, sadness and drama. With just this one agreement, you can completely transform your life.

Agreement 4 - Always do your best - Your best is going to change from moment to moment; it will be different when you are healthy as opposed to sick. Under any circumstance, simply do your best, and you will avoid self-judgment, self-abuse and regret.