KTFA:

Clare:  Iraqi Credit Bank achieves a profit of 20.4 billion dinars 

10/20/2024 Baghdad

The Iraqi Credit Bank achieved a net profit of 20.4 billion dinars since the beginning of the year until the third quarter. 

According to the bank's financial statements, revenues amounted to 26.4 billion dinars, achieving a growth of 38%, as they amounted to 19.1 billion dinars during the same period last year. 

The bank's assets increased to 524.8 billion dinars, but deposits decreased to 137.5 billion dinars after they were 150.6 billion dinars. 

The bank has retained earnings of 38.7 billion dinars, which have been accumulating for many years. LINK

Clare:  Al-Sari: The population census guarantees fair distribution of wealth and parliamentary representation of the governorates

10/21/2024

The head of the State Powers Bloc, MP Faleh Al Sari, stressed the importance of the census and population census in ensuring the fair distribution of wealth.

Al-Sari, accompanied by the Minister of Planning, Mohammed Tamim, visited the Population Census Operations Room to review the preparations for the general population census scheduled for November 20-21.

The workers in the operations room gave a detailed presentation of the work mechanisms and the achievement rates achieved in the numbering and enumeration operations at the level of each governorate, in addition to explaining how to conduct field follow-up for researchers throughout Iraq via geographic information systems, and mechanisms for sending data immediately.

For his part, Representative Faleh Al-Sari expressed his deep appreciation for the efforts made by the Ministry of Planning and the Statistics Authority to conduct the population census electronically and in record time, stressing the importance of this project in ensuring fair distribution of wealth and ensuring fair parliamentary representation for all governorates, in addition to its developmental importance in understanding the Iraqi reality in all its details and drawing up future policies in all fields.    LINK

************

Clare: Al-Sudani: $100 billion is the size of investment opportunities in Iraq

10/21/2024

Iraqi Prime Minister Mohammed Shia al-Sudani confirmed that the investment opportunities available in Iraq exceeded $100 billion in value, pointing to the expansion of economic cooperation between Iraq and Egypt. 

This came during a meeting held today, Monday, with the Chairman of the Egyptian El-Sewedy Group of Companies, Ahmed El-Sewedy, and a group of Egyptian company managers, in the presence of a number of his advisors, according to a statement issued by his office and received by Shafak News Agency.

During the meeting, Al-Sudani explained that these investment opportunities were received from Arab and foreign companies, which reflects the potential for economic growth in various fields.

They also discussed ways of cooperation in various sectors, including industry, energy and infrastructure, in addition to developing petroleum resources. It was agreed to study the establishment of industrial cities in Baghdad, as Al-Suwaidi Group presented a map of projects that will be studied by the Advisory Board and relevant authorities.   LINK

************

Clare:  Al-Atwani: The government is working on preparing the basics of the 2025 budget to present it to the House of Representatives

10/21/2024

The head of the Parliamentary Finance Committee, Atwan Al Atwani, confirmed that the government is working on preparing the basics of the 2025 budget to present it to the House of Representatives for study and voting.

A statement from his office, received by {Al Furat News}, stated that: “Al Atwani discussed with a delegation from the Adam Smith International Foundation a set of laws related to the development of the financial and banking system, today, Monday, at the headquarters of the Finance Committee in the Council building, where he reviewed important draft laws including the Securities and Commodities Law, the Banking Studies Center Law, and the Islamic Sukuk Investment Law, with the necessary amendments being made, indicating that these laws will be read in the upcoming sessions.

Al-Atwani stressed that "the aim of the amendments is to involve the concerned parties to ensure increased productivity and listen to various opinions to ensure their effective implementation."

The statement added, "The organization of workshops in cooperation with the Law, Economy, and Investment Committees was also discussed to develop laws comprehensively, while hosting specialists to benefit from previous experiences. The mechanism for drafting federal budget texts, analyzing revenues and expenditures, and planning budget items and general programs were also addressed."

Al-Atwani pointed out that "the government is working on preparing the basics of the 2025 budget to present it to the House of Representatives for study and voting."   LINK