Iraq Economic News and Points to Ponder Monday Afternoon 2-24-25

Financial Advisor Confirms: The Government Has Developed An Economic Approach To Enhance Growth And Reduce Unemployment

Local | 04:25 - 02/24/2025   Mawazine News – Baghdad  The financial advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Monday, that the government has developed an economic approach to enhance growth and reduce unemployment, noting that the new industrial cities will be the cornerstone of the economic renaissance.

Salih said, in a statement to the official agency, that "the Sudanese government has developed a clear economic approach to enhance the national economy, represented by raising growth rates in the non-oil gross domestic product by no less than 5%, in addition to gradually reducing unemployment rates to stabilize at 4% in the future."

He explained that "achieving these two goals requires focusing on economic development priorities, most notably supporting the manufacturing industry, which can absorb 60% of unemployment, and contribute to diversifying sources of national income and increasing the gross domestic product rapidly."

He noted that "the government is working to achieve this through three main tracks, including supporting youth lending initiatives, which included many youth gatherings to stimulate the workforce, and establishing "Riyada Bank" as a private bank with broad government support to grant loans to small and medium-sized industrial activity,

 in addition to forming a sovereign guarantees committee to finance large industries through bank loans guaranteed by the state, in cooperation with major industrial countries such as Western Europe and Japan."

He stressed that "these efforts will focus on developing five main industrial fields, including infrastructure industries linked to the "development path" and reconstruction projects, pharmaceutical industries, in addition to petrochemical industries and petroleum derivatives, and advanced engineering industries, in addition to developing the oil sector and manufacturing natural and associated gas, with the aim of zeroing its burning and benefiting from it in the electricity sector."

He added that "the new industrial cities on the development path will be the cornerstone of the comprehensive industrial development strategy in Iraq," noting that "the industrial renaissance is based on a strategic vision based on a partnership between the state and the private sector, within the philosophy of building a social market."  https://www.mawazin.net/Details.aspx?jimare=259820

The Ministerial Council For Economy Stresses The Need To Continue The Experiment Of Using Electronic Payment Mechanisms In Transactions In The Public And Private Sectors

Monday 24 February 2025 19:55 | Economic Number of readings: 16  Baghdad / NINA / The Ministerial Council for the Economy stressed the need to continue the experiment of using electronic payment mechanisms in transactions in the public and private sectors.

The Council stated in a statement that "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein chaired the sixth session of the Ministerial Council for the Economy, which was held in the Council building, in the presence of the Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Trade, Agriculture, Industry, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank, the Chairman of the Securities Commission, the Deputy Chairman of the National Investment Commission, and the Prime Minister's advisors for economic and legal affairs."

The statement explained that "the Council hosted the Projects Officer at the Grand Faw Port and the Director of the Submerged Tunnel Project to discuss the progress of engineering work in the project, and provide facilities for the import of some engineering materials that enhance the properties of reinforced concrete used in concrete piece structures, and exempt them from import licenses."

The statement indicated that "the Council decided to take the opinion of the Ministry of Environment regarding some chemicals used in civil engineering works and their impact on the environment.

It continued that the Council hosted the Director General of Information Technology and Payments at the Central Bank of Iraq to evaluate the experience of using electronic payment mechanisms in transactions in the public and private sectors,"

 stressing "the need to continue this important experience and expand it to include all financial transactions and payments for all economic activities, in light of the Cabinet's decision in this regard."

The statement explained that "the Council also reviewed the strategy for the informal economy in Iraq (the shadow economy), submitted by the Anti-Money Laundering and Terrorist Financing Council, as the study included several axes that addressed the concept, structure and characteristics of the shadow economy, the reasons for its existence, its indicators, and its economic effects,

in addition to proposals to address the shadow economy and integrate it into the formal economy, and the challenges associated with those proposals." The Council decided to recommend to "the Cabinet to adopt this strategy due to its importance."

The statement indicated that "the Minister of Agriculture provided a brief explanation of the environmental and health situation of livestock in Iraq, and reviewed the epidemiological situation of foot-and-mouth disease in the affected areas,"

indicating that "the epidemic has receded significantly in the areas of Al-Fadhiliyah and Al-Nahrawan, and that agricultural health teams are continuing the detection, examination and treatment operations, while providing the necessary vaccines and treatments to control this disease," stressing that "there are no human infections resulting from the use of meat or animal products.

" The Council supported "the Ministry of Agriculture's measures in this regard," reassuring "the Iraqi street that this disease is not transmitted to humans." /End
https://ninanews.com/Website/News/Details?key=1188565

Promising Investment Projects In Iraq.. Annual Revenues Exceeding $150 Billion

Economy | 07:23 - 02/24/2025    Mawazine News – Economy  The National Investment Commission revealed, on Monday, new projects that generate revenues exceeding $150 billion annually, while indicating that it has attracted foreign capital estimated at $63 billion.

The official spokesperson for the National Investment Commission, Hanan Jassim, said in a statement to the official agency: "The National Investment Commission has been able, over the past year and a half, to attract foreign capital estimated at $63 billion, whether through direct investment or by granting investment licenses,

in addition to local investments amounting to $27 billion," noting that "this number has not been achieved in the economic arena in Iraq for nearly 20 years, nor has it been achieved in the Commission since its establishment until 2022."

She added, "This represents a roadmap for the projects that will be implemented during the year 2025 and the coming years, and it also serves the investment objectives of attracting foreign capital, as the Authority is currently working on a number of investment files that are hoped to be implemented during the year 2025, which represent important axes for the Authority's plans, most notably:

1. The waste treatment and electricity generation unit project, for which the investment license was granted to the Chinese Shanghai Company with a daily capacity of 3,000 tons of solid waste and securing 100 megawatts of electricity, and it is hoped to start completing the second phase of it in the Abu Ghraib area soon.

2. Completion of the economic feasibility study for the electronic development road project, the optical cable and the first data center of its kind, which in its first phase could support the state budget by an estimated $12 billion annually in partnership with investors who bear the largest cost in parallel with building a new oil export system and opening a new sea outlet to export Iraqi oil across the Mediterranean Sea and to both Syria and Lebanon,

where the approvals of previous governments were obtained for the two projects, as the expected revenue from the new Iraqi oil pipeline system is estimated at $25 billion annually, all of them Obtaining approvals and discussions with neighboring countries, it is a geopolitical project par excellence for Iraq, and the global trade in optical cables is around 10 trillion dollars.

3. It is hoped to complete the feasibility study for investing in silica sand in Iraq with high purity of 98% and used in the semiconductor industry, and it is possible to support the general budget with large amounts of up to 100 billion dollars annually, as the global trade in semiconductors including pure silica sand is around 202 billion dollars distributed among six countries (America, Russia, China, Japan, North Korea, Taiwan).

4. Within the Authority's plan, the feasibility study for the first wind energy project in Iraq with a capacity of 500 megawatts is completed.

5. We are heading towards some patents that can be completed inside Iraq and are capable of transforming desert lands into green lands, which contributes to food and environmental security efforts.   https://www.mawazin.net/Details.aspx?jimare=259830

Oil Confirms Its Commitment To The OPEC+ Agreement And Compensating For The Surplus In Production

Energy  Economy News – Baghdad  The Ministry of Oil confirmed, on Monday, its full commitment to the OPEC+ agreement and the additional agreed-upon cuts, in addition to compensating for accumulated quantities.

The ministry indicated, in a statement received by "Al-Eqtisad News", that it will take all necessary measures to ensure the implementation of these agreements, including submitting an updated plan to compensate for the surplus production during the previous period.

The statement explained that this came in a joint phone call between Deputy Prime Minister for Energy Affairs Hayan Abdulghani Abdul Zahra, Saudi Minister of Energy Abdulaziz bin Salman Al Saud, Deputy Prime Minister of the Russian Federation Alexander Novak, in addition to OPEC Secretary General Haitham Al Ghais.

According to data from OPEC-approved secondary sources, Iraq's crude oil production in January 2025 amounted to 3.999 million barrels per day, a positive indicator that reflects Iraq's commitment to the specified production levels.

The ministry stressed that it will continue its efforts to compensate for the accumulated surplus, taking into account the recent developments related to the federal government receiving oil produced in the Kurdistan Region and resuming exports through the Iraqi-Turkish pipeline, while adhering to Iraq's share stipulated in OPEC agreements for voluntary reduction and the required compensation quantities.

In conclusion, the Ministry of Oil stressed the pivotal role of these agreements in achieving stability in global oil markets, noting the importance of the contribution of OPEC+ member states in supporting this stability.   https://economy-news.net/content.php?id=52951

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Monday Afternoon 2-24-25

Good Afternoon Dinar Recaps,

GRAYSCALE'S XRP ETF UNDER SEC REVIEW—THE COUNTDOWN BEGINS

The SEC’s review of Grayscale’s XRP ETF is officially underway, sparking speculation that a crypto-friendly shift could lead to a groundbreaking approval.

SEC Begins Review of Grayscale’s XRP ETF Proposal

The Federal Register officially published Grayscale’s XRP exchange-traded fund (ETF) proposal on Feb. 20, 2025, marking the beginning of the U.S. Securities and Exchange Commission’s (SEC) review process. Fox Business journalist Eleanor Terrett highlighted the significance of this step on social media platform X, stating:

Grayscale’s XRP ETF (19b-4 filing) has officially been posted to the Federal Register. All this means is that the clock starts now for the SEC to engage and either approve or deny on or before October 18.

The SEC follows a structured timeline when reviewing ETF proposals under the 19b-4 process. Initially, the agency has 45 days from publication to make a decision or extend the review.

 If an extension is granted, the SEC can push the deadline to 90 days. The commission can further extend the timeline, with additional review periods of 45 and 60 days, bringing the latest possible deadline to Oct. 18, 2025.

During this time, the SEC will solicit public comments, analyze market impact, and assess compliance with regulatory requirements. Approval could come at any stage, but historically, the SEC has taken the full timeline before issuing a final decision.

The filing, submitted by NYSE Arca, seeks to list and trade shares of the Grayscale XRP Trust under Rule 8.201-E, which governs commodity-based trust shares.

The securities regulator has already approved spot bitcoin ETFs and spot ether ETFs, paving the way for broader cryptocurrency investment products.

The departure of former SEC Chair Gary Gensler has further altered the agency’s stance, with his successor taking a more crypto-friendly approach. Under the new leadership, the SEC has paused or dropped multiple lawsuits against crypto firms, fueling speculation that Ripple’s ongoing legal battle could be the next case to be dismissed.

This change in regulatory climate has increased optimism that the XRP ETF may have a smoother path to approval compared to earlier crypto ETF applications.

With the publication in the Federal Register, the SEC will now open a public comment period before making a final decision on the Grayscale XRP ETF.

If approved, the fund would allow investors to trade the XRP ETF shares on a regulated exchange, potentially increasing market liquidity and accessibility for XRP. The crypto community is closely watching, as the SEC’s ruling could influence future cryptocurrency ETFs and broader digital asset adoption.

@ Newshounds News™

]Source:  Bitcoin News

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BRICS: US & RUSSIA TO ANNOUNCE “MAJOR ECONOMIC” PARTNERSHIP

Despite the growing tensions between both the BRICS economic alliance and the US, the Western power and Russia are reportedly nearing a “major economic” deal, according to US President Donald Trump. Indeed, Trump took to Truth Social to discuss ongoing negotiations with both Moscow and Ukraine to end the war amid its three-year anniversary.

In the post, Trump recalled a meeting with French President Emmanuel Macron and Canada’s Prime Minister Justin Trudeau that took place Monday.

 He noted that, amid hopes between the three of ending the war, he was nearing a signed “Critical Minerals and Rare Earth’s Deal” with Ukraine. Therefore, the President claims he is nearing a deal with both nations to end the ongoing military conflict.

US and Russia Nearing Economic Partnership as Trump Talks Negotiations to End Ukraine War

Since his November 2024 election win, Donald Trump has not been shy about his opposition to the BRICS bloc. Indeed, he has spoken about the imposition of 150% tariffs on the alliance as he seeks to protect the status of the US dollar globally. Yet, the United States commander-in-chief is reportedly nearing a massive deal with one of its most prominent nations.

Despite the growing BRICS tensions, the US and Russia are nearing a “major economic” partnership, according to US President Trump. In a post to Truth Social, he explained ongoing negotiations with both Moscow and Ukraine in his effort to end the war that he claimed would have never started if I was President.”

“I am in serious discussion with President Vladimir Putin of Russia concerning the ending of the war,” Trump said. Moreover, he also noted there will be “major Economic development transactions which will take place between the United States and Russia. Talks are proceeding very well,” he added.

The talks have been a byproduct of growing relations between the two countries. Just last week, Putin called for Russia to partner with Tesla CEO Elon Musk. Indeed, the world’s richest man has headed Trump’s DOGE commission and was key in his bid for reelection.

@ Newshounds News™

Source:  Watcher Guru

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US GOLD INFLUX: SWISS EXPORTS SURGE TO UNPRECEDENTED LEVELS

In January, Swiss gold exports to the U.S. reached a record high of 193 metric tons, driven by fears of potential tariffs. This surge, exceeding the total for 2024, was triggered by a premium on Comex gold futures, creating a profitable opportunity for traders to deliver gold to U.S. warehouses.

Due to differing bar sizes between London and New York, gold is typically refined in Switzerland before being shipped to the U.S. This influx contributed to a significant increase in gold held in Comex depositories and a near doubling of Switzerland’s total gold exports.

@ Newshounds News™
Source:  Bitcoin News

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Seeds of Wisdom RV and Economic Updates Monday Morning 2-24-25

Good Morning Dinar Recaps,

MONTANA JOINS GROWING LIST OF US STATES KNOCKING BACK BITCOIN RESERVE BILLS

Montana joins North Dakota, Wyoming, and Pennsylvania in halting proposals to include Bitcoin in state reserves.

Montana’s attempt to invest public funds in Bitcoin was thwarted on Friday when a piece of legislation failed to gain approval in the House of Representatives.

House Bill 429, introduced earlier this month by Representative Curtis Schomer, sought to create a special revenue account allowing up to $50 million to be allocated for crypto, stablecoins, and precious metals

The aim, according to Schomer, was to diversify the state’s assets and potentially provide higher returns than traditional bond investments.

Even though Bitcoin (BTC) was the only digital asset to meet the criteria set by the bill with $1.8 trillion in market cap, it encountered strong opposition from lawmakers, culminating in a 41-59 vote in the House.

Montana now joins a growing list of states that have rejected Bitcoin reserve proposals, including North Dakota, Wyoming, and Pennsylvania.

While Montana has opted for caution, the push for Bitcoin reserves is gaining momentum elsewhere, with several other states moving faster than the federal government to integrate cryptos into public finance.

Roughly 19 state proposals are still pending, as per Bitcoin Reserve Tracker data, including in Arizona, Illinois, Kentucky, Maryland, Oklahoma, New Hampshire, and Texas, among others.

Utah’s Blockchain and Digital Innovation Amendments bill, which allows the state treasurer to allocate up to 5% of public funds to digital assets, is still pending.

Arizona’s Senate Finance Committee has advanced a bill proposing to allow up to 10% of public funds, including pension systems, to be invested in crypto.

The bill now heads to the Senate Rules Committee for additional examination and, if greenlit, will proceed to the House of Representatives for further consideration.

Texas is also exploring two separate bills: one permitting up to 1% of the general revenue fund to be allocated to Bitcoin and another focused on Bitcoin donations and crypto payment conversions.

Meanwhile, countries such as Switzerland, Brazil, Japan, and Russia are also exploring the potential of using Bitcoin as part of their national reserve strategies.

@ Newshounds News™

Source:  Decrypt

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GEORGIA INTRODUCES NEW BITCOIN RESERVE BILL

Yet another strategic Bitcoin reserve (SBR) bill has been submitted to the Georgia Senate.  Notably, the legislative effort (SB 228) was introduced by the Democrats.  The bill has emerged as a partisan competitor to the SBR bill that was put forward by the Republicans (SB 178) ten days ago.

Notably, the bill that was introduced by the Democrats has no investment limit. For comparison, the competing bill has a 5% cap.  Overall, more than 20 state-level SBR bills have now been introduced in the US.

@ Newshounds News™

Source:  U Today

~~~~~~~~~

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“Tidbits From TNT” Monday Morning 2-24-2025

TNT:

Tishwash: Iraq's 2025 Budget Schedules "You're Going Where You Are" and the Reason: Amendments to Article 12

Parliamentary Finance: No signs of sending the tables due to the amendments to Article 12 that changed the equation.

The fate of the 2025 budget tables remains uncertain, despite the approval of the amendments. She pointed out thatFinance Committee There is no intention to send the latter, citing the continued amendments to Article 12 that will affect revenue and expenditure figures. There are also warnings that this delay may negatively affect many entitlements.  link

Tishwash:  Ramadan between spirituality and the blaze of prices.. Warnings as the holy month approaches

Economic expert Ahmed Al-Tamimi warned, today, Sunday (February 23, 2025), of the rise in food prices with the approach of the month of Ramadan.

Al-Tamimi told Baghdad Today, "There is a fear among the Iraqi street of rising food prices with the approach of the holy month of Ramadan, especially with the presence of some greedy merchants, and this is why we find a rush to the markets these days for shopping, fearing a rise in prices in the coming few days."

He added, "The competent supervisory authorities in the Ministry of Interior and the Ministry of Commerce must monitor prices in the markets on a daily basis to prevent any manipulation of prices and raise the prices of some food items that are in high demand during the month of Ramadan. This sends messages of reassurance to citizens."

Ramadan is a special time for Muslims, when people come together in a special spiritual and social atmosphere. However, many face increasing economic challenges during this month, most notably the rise in prices of food and basic products, which burdens low-income families.

There are many reasons for this increase in prices, including increased demand for food, some traders taking advantage of this opportunity to raise prices, in addition to problems related to supply chains and economic inflation. In some countries, governments are seeking to take control measures to limit these increases, such as imposing fixed prices or providing support for some basic commodities. link

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Tishwash:  Huge" wealth.. What do you know about "precious" minerals in Iraq?

 Economy Sumerian is witnessing Iraq An important shift in its economic strategy, as the government is moving towards diversifying sources of income and strengthening non-oil sectors, with the project to localize precious metals among the most prominent projects on this path.

And decided The Council The Industrial Coordination Committee on February 16th localized the manufacture of precious metals, including gold and jewelry, in addition to cosmetic products, with a focus on providing all necessary facilities for those wishing to establish their own factories.

And occupiesIraq28th place globally and 4th in the Arab world - afterSaudi ArabiaLebanon and Algeria - in the classificationCountriesThe highest gold reserves in the world, according toThe Council GlobalFor gold.

According to the latest table published by the Council, "Iraq raised its gold holdings to 162.7 tons, representing 12.7% of its total other reserves."

The Central Bank also resolvedIraqiRanked first in the Arab world and seventh globally on the list of banksCentralMost purchased gold in 2024, according to the Gold Council dataGlobalThe volume of purchases reachedIraqAbout 20 tons of gold.

A qualitative leap, confirmed Abdul Hassan Al-Ziyadi, a member of the Businessmen Union Council.IraqiThe new government’s plans in the industrial field, especially its orientation towards localizing precious metals, will represent a qualitative leap for Iraq, and will enable it to achieve leaps at the level ofGlobalIn the field of investment.

Al-Ziyadi said that the project of localizing precious or rare materials, or the rare metals industry, is one of the successful projects in Iraq, because the landIraqIt contains sufficient and surplus raw materials to launch such projects.

He pointed out thatIraqIt has rare and precious resources, and is one of the good and fruitful spots for gold, and other projects such as phosphate, and other precious metals, especially in Anbar Governorate.

Al-Ziyadi explained thatIraqHe began to think about using these resources and supporting the localization project to develop and benefit from it, stressing that the current government is ready to work and develop the work of its institutions, and direct it towards investment and encouraging investments.

He pointed out thatIraqHe began to think about building economic institutions of good benefit, and he also began to think about the precious metals that he could exploit to develop his economy.

Huge wealth awaits investment and is consideredIraqA country rich in its diverse mineral resources, as these resources are spread across its various governorates, and Anbar Governorate is the richest governorate in this field.

*According to the Iraqi Phosphate General Company, affiliated with the Ministry of Industry, surveys have revealed the availability of huge and confirmed reserves of phosphate amounting to about two billion confirmed and unexploited tons, with unconfirmed quantities that may exceed 7 billion tons.

*Iron ore, as its presence is particularly concentrated in the desert southwest of Anbar, where the underground reserve is estimated at about 60 million tons.
*Anbar governorates also have a large reserve of uranium in the Akashat area within the phosphate layer formations in the Western Desert.
*Anbar's mineral resources do not stop there, as silica is concentrated in the Western Desert region, and appears in the form of layers of white sand, where the reserve amounts to about 75 million tons.
*As for gold, it is found in the governorates of Anbar and western Nineveh.
* Huge quantities of sulfur are concentrated in Anbar, Salah al-Din and Nineveh, and the reserves are estimated at more than 600 million tons.
* As for sodium sulfur, it is widespread in Salah al-Din Governorate and the general reserve is estimated at about 22 million tons.
* As for quartzite, it is widespread in the Rutba area in Anbar and its reserves are estimated at about 16 million tons.
* Celestite (strontium sulfur) is widespread in the governorates of Najaf and Karbala, where it appears in the form of sandy rock lenses, and the country's reserve is estimated at about 0.8 million tons that are not exploited.
* Glass, its presence is concentrated in Anbar Governorate in the form of shiny surface sand in the plains and plateaus, and the existing quantities are estimated at about 400 million cubic meters.
* Lead is found in the governorates of Dohuk and Sulaymaniyah in the Kurdistan Region in the form of sedimentary carbonate rocks, and the reserve is estimated at more than 50 million tons.
*Statistics indicate the presence of dolomite in the provinces of Anbar and Muthanna, where the country's reserves are estimated at about 330 million tons.
*As for gypsum, it is concentrated in Nineveh, Kirkuk and Salah al-Din, and its reserves are estimated at about 130 million tons.
*Lime is found in Anbar, Muthanna, Najaf, Nineveh and Kurdistan, and its reserves are estimated at about 8 thousand million tons.
*Silver is found in the regions of KurdistanIraqWithin volcanic rocks.
* Bauxite is concentrated in Anbar, and its reserves are estimated at about one million tons.
* Feldspar sands are concentrated in Najaf Governorate, and its reserves are estimated at about 2.3 million tons.
* Quartz is concentrated in Anbar and the city of Faw, located on the waters of the Arabian Gulf in Basra, where its reserves are estimated at about 855 million cubic meters.
* As for copper, it is found in Sulaymaniyah Governorate, and its volume estimates vary between 10 and 20 million tons.

Reducing the exit of currency
To talk about the extent of the decision's impact on the market, economic expert Salah Nouri believed that it is too early to determine the level of prices and quality for the gold and jewelry industry, because the Cabinet's decision has not yet begun to be implemented.

Nouri explained that importing gold and precious metals constitutes a high percentage of total imports, and therefore this decision will contribute to reducing the exit of foreign currency (dollar) from the country, noting that the Ministry of Trade has been tasked with facilitating the import of raw materials for manufacturing purposes in coordination with the Central Bank.

He added that the manufacture of gold and jewelry insideIraqIt is supposed to make its local prices lower than its import price, warning that this industry may face the risks of fluctuations in global gold prices, which may in turn affect the stability of the local market.

Diversifying budget resources
Government advisor Alaa Al-Fahd confirmed that activating the precious metals localization sector will have an effective role in bringing outIraqFrom total dependence on oil as a major source of budget revenues.

Al-Fahd said thatIraqToday, it has the ability to diversify its sources of income by localizing the precious metals industry, which will have a positive impact on the economy.IraqiBy diversifying revenues and activating this vital industry, noting thatIraqHe has large reserves of gold that can be exploited in local manufacturing instead of importing ready-made gold jewelry from abroad.

Al-Fahd explained that Iraqi lands are rich in many undiscovered precious metals, and that these potential discoveries will directly contribute to increasing reserves and diversifying the economy, stressing that this requires conducting economic feasibility studies to determine the extent of the impact of these minerals and activating the industry.

He stressed that the matter is not limited to owning these minerals, but rather requires developing realistic plans to activate these industries and develop the economy, stressing that paying attention to these industries and localizing them in Iraq, in addition to providing facilities and attracting foreign investments, will have a direct impact on the economyIraqiAl

-Fahd pointed out that this requires a government decision, and that this decision is available today, and it is a message to attract development investments in this field to activate the mining industry in Iraq, especially since there is a basis and ownership of these natural resources that can be exploited to strengthen the economy.

He explained that supporting the budget by activating this sector is inevitable, as any industry will contribute to raising production capacities and increasing production, which leads to the development and activation of the industry, pointing out thatIraqThese transformation industries are needed to exploit the available infrastructure for minerals.

Al-Fahd explained that all opportunities are available today for investment in this field, and that investment in this sector is no less important than investment in any other sectors that contribute to developing the economy and supporting the budget, especially in light of the fluctuations in oil prices, stressing the need to search for alternative sources of income and revitalizing the industrial, agricultural and tourism sectors.

Al-Fahd stressed that these sectors can contribute effectively to achieving revenues and diversifying the economy, indicating thatIraqHe should follow suit.CountriesThe Arab and Gulf countries have emerged from their dependence on oil and have begun to stimulate other industries and develop their natural resources.  link

Mot: ... Hello Everyone 

Mot: Not Me!! -- But maybe Youuuuu!!! 

MilitiaMan & Crew-Iraq Dinar News-Census Finality-Resume Oil Exporting Ceyhan-PM to lift European Ban Airlines

MilitiaMan & Crew-Iraq Dinar News-Census Finality-Resume Oil Exporting Ceyhan-PM to lift European Ban Airlines

2-23-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=XhXjzt-LHkQ

Iraq Economic News and Points to Ponder Sunday Afternoon 2-23-25

Foreign Remittances Constitute More Than 93% Of The Central Bank’s Sales.

Time: 2025/02/23 Reading: 960 times  {Economic: Al Furat News} Foreign remittances, today, Sunday, in the sales of the Central Bank of Iraq, reached more than 93% in the hard currency auction.

The bank sold in its auction today 293 million, 340 thousand and 631 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.

Most of the dollar sales went to strengthen the balances abroad in the form of transfers and credits, which amounted to 275 million, 440 thousand and 631 dollars, at a rate of 93.82%, compared to cash withdrawals amounting to 17 million, 900 thousand dollars.

The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 5 banks, and the total number of exchange companies participating in the auction was 23 companies.  LINK

Oil: We Will Receive 185 Thousand Barrels Per Day From The Kurdistan Region As A First Stage

Iraqi oil refinery   Energy  Economy News – Baghdad   The Undersecretary of the Ministry of Oil for Extraction Affairs, Basem Mohammed Khudair, confirmed today, Sunday, that the ministry will receive about 185 thousand barrels per day from the Kurdistan Region as a first stage after resuming oil exports through the Turkish port of Ceyhan, while he indicated that the quantity will gradually increase to 400 thousand barrels per day.

"The suspension of exports from the Kurdistan Region during the past period caused a problem for the oil fields in the region, and a period of rehabilitation is needed to restore their production capacity, with the aim of reaching the export of 400,000 barrels per day, which is the minimum quantities stipulated in the budget," Khadir said in a televised statement followed by "Al-Eqtisad News."

He added that "the quantity currently available for export in the region is 300,000 barrels per day, part of which is allocated for internal use, while the remaining 185,000 barrels will be allocated for export."

He pointed out that "the past period witnessed a visit by a delegation from the Ministry of Oil to the region, and it was agreed to form joint committees to follow up on the mechanisms for resuming oil exports," explaining, "We were informed by the region of its readiness to start the export process."

He continued, saying, "The technical teams of the North Oil Company and representatives of the Kurdistan Region are working to inspect the oil export pipelines and ensure their suitability and readiness to resume pumping oil through them."

Khadir confirmed that "the Ministry of Oil has contacted the Turkish side to inquire about the readiness of the pipeline designated for export via the port of Ceyhan, and we are awaiting an answer within the next 24 hours."

He also stated that "the ministry is keen on the continuity of export operations via the port of Ceyhan as part of a strategic vision for the relationship between Iraq and Turkey, and there is continuous communication with the region and the Turkish side to ensure the continuation of cooperation and export."   https://economy-news.net/content.php?id=52947

Al-Yasiri: The Prime Minister Formed Specialized Teams To Evaluate The Performance Of Ministries In The Digital Transformation Process

Minister of Communications Hiyam Al-Yasiri  Money and business  Economy News - Baghdad
Minister of Communications Hiyam Al-Yasiri confirmed, on Sunday, that Iraqi ministries are racing against time to complete digital transformation operations and keep pace with developments in this field, noting that Prime Minister Mohammed Shia Al-Sudani has formed specialized teams to evaluate the performance of ministries in achieving this transformation.

Al-Yasiri said, in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", during her participation in the Digital Cooperation and Development Forum in the Jordanian capital, Amman:

"Prime Minister Mohammed Shia Al-Sudani led the Supreme Committee for Digital Transformation, developed important strategies, and established the National Center for Digital Transformation, and all ministries in Iraq are competing today to complete digital transformation operations."

She pointed out that "the Prime Minister directed the formation of specialized teams to evaluate the performance of ministries and the level they have reached in digital transformation operations."

She explained that "the Ministry of Communications, as a specialized ministry, aspires to be a model for the rest of the ministries, and has made great strides in this field, and possesses many digital applications and systems that were created by Iraqi hands and minds."

She stated that "the aim of holding the Digital Cooperation Forum is to approve the Arab Digital Agenda that was discussed last year with the participation of a number of international organizations, such as the International Federation and the United Nations, in addition to the Arab League, and today the ministerial declaration on the Arab Digital Agenda was approved."

Al-Yasiri added, "The meeting also aims to review the prospects of rapid digital development and keep pace with it, as it has become a necessity for Arab countries in order to keep up with global development in this field."

She stated that "keeping pace with development requires establishing a digital infrastructure to develop cybersecurity, eradicate digital illiteracy, and benefit from the talents and capabilities of the Arab people in general and the Iraqi people in particular."

She also indicated that "digital transformation has become an important goal in order to enhance the digital economy, considering that the digital economy today is one of the most important economies that the world is looking at, especially in oil countries that must adopt a digital economy that is an alternative to the oil rentier economy and is a real guarantee for them."

Al-Yasiri also pointed out that “artificial intelligence is still a challenge facing all countries of the world, in order to preserve the ethics of artificial intelligence on the one hand, and benefit from innovation and great scientific progress in this field.”  https://economy-news.net/content.php?id=52945

 Slight Decrease In Dollar Prices In Baghdad

Stock Exchange   Economy News – Baghdad   The US dollar exchange rate fell slightly, Sunday morning, in Baghdad markets.

The dollar prices witnessed a decrease in the Al-Kifah and Al-Harithiya stock exchanges, recording 149,900 Iraqi dinars for every 100 dollars, while it recorded 149,950 Iraqi dinars for every 100 dollars yesterday morning, Saturday.

The selling prices in the exchange shops in the local markets in Baghdad recorded stability, as the selling price reached 151,000 Iraqi dinars for 100 dollars, while the purchase price reached 149,000 dinars for 100 dollars.     https://economy-news.net/content.php?id=52929

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 2-23-25

Good Afternoon Dinar Recaps,

COINBASE SAYS SEC WILL DROP LAWSUIT AGAINST CRYPTO EXCHANGE—CITING CHANGE IN ‘POLITICAL LEADERSHIP’

The Securities and Exchange Commission has agreed to drop its lawsuit against Coinbase, following what the crypto exchange said was a change in “political leadership” at the agency, which accused Coinbase of failing to register as a securities exchange under the Biden administration.

6:34 PM

▪Paul Grewal, Coinbase’s chief legal officer, wrote in a blog post Friday saying SEC officials have agreed “in principle” to dismiss the agency’s lawsuit against Coinbase.

▪The SEC sued Coinbase—the largest crypto firm in the U.S.—in Manhattan federal court in 2023, alleging at least 13 crypto assets sold by the crypto exchange should have been registered as securities before they were offered publicly.

▪“What changed over those two years was the political leadership at the SEC,” Grewal wrote, appearing to reference the lawsuit being filed under the Biden administration and a shift in oversight under President Donald Trump, who has promised to lessen the regulatory burdens facing the industry.

▪Grewal told the Wall Street Journal that SEC officials will likely vote next week to dismiss the agency’s lawsuit (Coinbase did not immediately respond to a request for comment).

▪The SEC declined to comment to Forbes.

Key Background
The SEC targeted several cryptocurrency firms under the Biden administration, including lawsuits filed against Coinbase, Binance and Kraken, among others.

Regulators pushed for more oversight of the industry, claiming crypto assets sold by crypto exchanges were securities that should be registered under the SEC’s umbrella. Coinbase—which went public in 2021—disputed the SEC’s claims and accused the agency of “hurting America’s economic competitiveness.”

A federal district court declined to toss the SEC’s case against Coinbase in March 2024, and the crypto firm appealed the ruling in January. The SEC’s lawsuits against Binance and Kraken are ongoing, though the SEC has requested its case against Binance be paused.

What Has Trump Said About Regulating The Crypto Industry?
In the lead-up to his inauguration, Trump indicated he would use his executive powers to reduce regulatory burdens facing crypto firms.

He suggested he would create a new crypto advisory council, and Trump reportedly planned to unveil an executive order declaring cryptocurrency a policy priority while advising agencies to work with the industry.

Acting SEC chair Mark Uyeda said earlier this week a task force to oversee the crypto industry—established by former SEC chair Gary Gensler—would be cut down, and a new task force is reportedly moving away from Gensler’s approach.

@ Newshounds News™

Source:  Forbes

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RUSSIA'S SUPREME COURT MOVES TO CLASSIFY CRYPTO AS PROPERTY

Russia’s Supreme Court is pushing to classify cryptocurrency as property in penal cases, aiming to strengthen law enforcement’s ability to track, freeze, and confiscate illicit digital assets.

Russia’s Supreme Court Advances Crypto Legalization Efforts
Russia’s Supreme Court has taken an increasingly active role in defining the legal status of cryptocurrency, with its latest efforts focusing on recognizing digital assets as property for penal proceedings, Tass reported on Feb. 20. Chairperson Irina Podnosova addressed the issue at a recent meeting attended by judges and Russian President Vladimir Putin, stating:

With the spread of cryptocurrency in the economy, there has been a rise in crimes where the digital currency is either the means of committing the crime, the criminal income, or the object of the offense.

She further confirmed that the Supreme Court is involved in drafting a “legislative initiative aimed at recognizing digital currency as property for purposes of penal proceedings,” a move that could strengthen law enforcement’s ability to handle crypto-related crimes.

This is not the first time Russia’s Supreme Court has addressed cryptocurrency in legal proceedings. In 2019, it ruled that converting bitcoin into rubles constituted money laundering when the digital currency was obtained through illegal activities, particularly in cases involving drug-related transactions.

 The court’s decision reinforced that cryptocurrencies could fall under existing anti-money laundering laws. Additionally, in 2021, the court ruled that WMZ, the electronic currency used in the Webmoney Transfer system, was legally recognized as an object of civil rights, setting a precedent for the legal treatment of digital assets in Russia.

These earlier rulings indicate the Supreme Court’s ongoing efforts to integrate cryptocurrency into the country’s judicial framework.

6:34 PM

Despite stable crime patterns in Russia, where property crimes account for 38%, violent crimes for 24%, and offenses against public security and order for 24%, the growing use of digital currency in criminal activities has prompted efforts for clearer legal definitions, according to Podnosova.

By officially classifying cryptocurrency as property, authorities will be better positioned to track, freeze, and confiscate illicit digital assets. As more countries seek to regulate the crypto space, Russia’s legislative efforts highlight the increasing necessity for legal clarity in digital finance.

@ Newshounds News™

Source:  Bitcoin

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Sunday Morning 2-23-25

Good Morning Dinar Recaps,

HOW US TRADE WARS ARE SHAPING THE CRYPTO MARKET

Trump’s trade war tariffs triggered volatility in crypto markets, with Bitcoin dropping to $91,200 before rebounding. While short-term turbulence persists, rising inflation could drive long-term crypto adoption as a hedge against devaluation. Investors should stay vigilant.

Over the past month, the crypto market has experienced notable price swings, with the total market capitalization oscillating between $3 trillion and $3.73 trillion. A key catalyst behind this volatility is President Trump. While his inauguration took Bitcoin to a new all-time high of $109,200, his recent trade war did the opposite.

The administration imposed a 25% tariff on imports from Canada and Mexico, along with a 10% tariff on Chinese goods, sending shockwaves through global markets including the crypto sector.

Although a temporary 30-day pause on these tariffs provided some relief, taking Bitcoin over the $100k mark, subsequent actions such as an additional 25% tariff on iron and aluminium left investors with a big question — How are these tariffs going to affect the crypto market?

The Reason Behind the Tariffs

The primary stated reason for these tariffs was to curb illegal immigration and prevent the inflow of contraband. However, many interpret this move as a strategic signal of US dominance over major economies.

Although Canada and Mexico quickly pledged to deploy around 10,000 personnel each to secure their borders—a move that led to a temporary pause in further tariff increases—the subsequent 25% tariff on iron and aluminium reveals a deeper strategic intent from the US.

This additional tariff indicates that the US is determined to maintain pressure on key industrial sectors, suggesting that the trade war is far from over.

How Did the Markets React?

The crypto markets had a knee-jerk reaction to the news taking Bitcoin to a low of $91,200. However, the market's resilience soon became evident when Bitcoin rebounded by over 10% in a single day, soaring to $102,000, and eventually stabilizing around $97,000. Similarly, altcoins experienced profit booking taking the market cap down to $3.4 trillion by the time the pause was announced.

The tariffs increased inflation fears and concerns over upcoming Federal Reserve rate decisions shifted investor sentiment. But a zoomed-out look at the markets would have helped investors see the hidden benefits of the trade war.

Long-Term Implications of the Tariff War

While the tariff-induced volatility has caused short-term corrections, there are long-term dynamics at play that could ultimately benefit the crypto sector. When a country increases tariffs, it often leads to higher inflation.

The US, for instance, imports billions of dollars worth of construction materials from neighbouring countries. Increased tariffs on these essentials drive up costs, potentially fueling inflation and weakening the dollar. In such scenarios, safe-haven assets like gold and crypto—tend to gain traction as investors seek protection against devaluation.

The recent CPI data showing a 0.5% increase in inflation is an early sign of the tariff war. Should the tariff war continue, it could create a macroeconomic environment where digital assets serve as an effective hedge against inflation. Coupled with improving regulatory clarity and growing institutional interest, this scenario may spur broader adoption of crypto over the long term.

Conclusion

The short-term turbulence triggered by Trump’s trade war offers a dual advantage for the crypto market. Firstly, it creates attractive entry points for investors, and secondly, it establishes a favourable environment for long-term sector growth.

While these conditions position Bitcoin and other digital assets on an upward trajectory, investors must remain vigilant and monitor trade developments closely to navigate news-driven volatility. Focusing on capital preservation and maintaining disciplined investment strategies will be key to capitalizing on future growth opportunities.

@ Newshounds News™

Source:  Economic Times

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BRICS DISCUSSES ALTERNATIVE PAYMENT PLATFORMS TO BYPASS WESTERN FINANCIAL SYSTEMS

BRICS Advances Alternative Payment Systems to Reduce Western Dependence

BRICS nations are actively discussing the development of alternative payment platforms to reduce their dependence on American financial systems, Tass reported on Feb. 19, citing Russian Foreign Minister Sergey Lavrov. Addressing the Russian State Duma, Lavrov emphasized that the initiative was originally pushed by Brazilian President Luiz Inácio Lula da Silva.

“This is being discussed in BRICS, at the initiative of [Brazilian President Luiz Inacio] Lula da Silva … The previous summit stated a decision on the necessity of developing a proposal on alternative payment platforms through finance ministries and central banks,” he detailed, elaborating:

Such proposals have been made, they suggest, in particular, the creation of a so-called transborder payment initiative, the creation of a reinsurance company, and the BRICS Clear settlement and depositary infrastructure.

The proposal aims to provide member states with greater financial sovereignty through independent transaction mechanisms.

The 16th BRICS Summit, held in Kazan from Oct. 22-24, 2024, marked a major milestone under Russia’s chairmanship. It was the first summit to include newly admitted members.

During the event, BRICS leaders formalized their commitment to alternative payment solutions through the adoption of the Kazan Declaration.

The declaration outlined key financial goals, including “the possibility of establishment of an independent cross-border settlement and depositary infrastructure, BRICS Clear, while member states’ finance ministers and central bank chiefs were tasked with properly continuing the consideration of the issue of using national currencies, payment instruments and platforms.” The move signals a collective effort to establish a financial system less reliant on Western institutions.

BRICS nations have been actively working to reduce their reliance on the U.S. dollar in global trade and financial transactions. Many member states have increasingly turned to local currencies in trade agreements, aiming to bypass Western-dominated financial systems.

The push for alternative payment platforms, such as BRICS Clear and a trans-border payment initiative, is distinct from discussions about a single BRICS currency.

While the payment platforms focus on enabling cross-border transactions using existing national currencies, the single currency initiative—still in early discussions—would require deeper financial integration and a shared monetary framework. Unlike a common currency, which demands extensive policy coordination, independent payment platforms allow BRICS nations to strengthen economic cooperation while maintaining control over their domestic monetary policies.

@ Newshounds News™

Source:  Bitcoin News

~~~~~~~~~

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Subscribe to Seeds of Wisdom Team™ Newsletter

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“Tidbits From TNT” Sunday Morning 2-23-2025

TNT:

Tishwash:  Opportunity or Risk? Parliamentary Oil Committee Explains the Impact of Rising Oil Prices on the Iraqi Economy

Zainab Al-Moussawi, a member of the Parliamentary Oil Committee, confirmed today, Saturday, that the rise in oil prices represents a great opportunity for Iraq to achieve financial stability, but at the same time it poses economic challenges if it is not managed wisely.

Al-Moussawi told Al-Furat News Agency that “the increase in oil prices leads to an increase in public revenues, which prompts the government to increase spending on salaries, services, infrastructure, and investment projects, which may enhance economic growth. However, she warned that this increase in spending may also lead to inflation if it is not well controlled.” 

She added, "The increase in oil revenues reduces the need to impose taxes or implement economic reforms that may be unpopular, which reduces pressure on the government to diversify sources of income." 

She stressed that "making the most of this opportunity requires wise financial policies that focus on diversifying the economy, enhancing investments, and reducing dependence on oil as the sole source of revenue."  link

Tishwash:  Deputy Speaker of Parliament: New US decisions may be issued regarding Iraq

Shakhwan Abdullah, deputy speaker of the Iraqi parliament, said on Saturday that the administration of US President Donald Trump may make new political and economic decisions regarding Iraq.

This came during his speech at a scientific conference on the present and future of Kirkuk, which was held at Soran University in the Kurdistan Region of Iraq.

In his speech, Abdullah explained that Kirkuk has always been the focus of conflict between the great powers due to its wealth of intellectual, mineral and natural resources. He added that its geographical location has made it face policies of Arabization and demographic change over the decades.

He stressed the need for all parties to work to restore rights to their owners in Kirkuk, with the aim of addressing the effects of previous policies that affected the city's demographics.

Abdullah confirmed that the Iraqi parliament has reactivated the Article 140 Committee, in a move aimed at abolishing the legacy of the Baath regime and addressing the changes that have occurred in the demographic composition of the areas covered by this article.

He also referred to his recent visit to the United States of America, where he returned to Iraq this morning. He explained that during the visit, he discussed the issue of Kirkuk and the disputed areas with the US Assistant Secretary of State and the head of the religious authority in the United States, noting that the American side views these areas with great importance.

The Deputy Speaker of the House of Representatives concluded his speech by pointing out that the new US administration may issue several political and economic decisions concerning Iraq and the United States, which has been discussed on several occasions with the federal government.  link

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Tishwash:  Swiss Ambassador: Iraq is an important regional player and we seek to be an active element in local investments

The Swiss government appreciated the efforts of Prime Minister Mohammed Shia al-Sudani in developing bilateral relations and supporting investment.

The Swiss Ambassador to Iraq, Daniel Hohn, said during his participation in a dialogue session on the second day of the Baghdad International Dialogue Conference, today, Sunday, in Baghdad, that "there are great efforts made by Prime Minister Mohammed Shia al-Sudani to restore relations between Geneva and Baghdad, and there are also common interests between the two countries, and there are important investment opportunities in Iraq that we seek to work on and enter the Iraqi market."

He added, "We have an Iraqi community that wants to return to Iraq to regain its interests, and we also have interests with Iraq that we are working to support and sustain," indicating that "the Swiss government realizes that Iraq is an important regional player in the region and has many investments, so we seek for Swiss companies to be a contributing and effective factor in achieving these investments."  link

Mot: .... Beeeeen - one of those mornings!!!

Mot: Thought fer the Daze 

MilitiaMan & Crew-Iraq Dinar News-Pressure Resume Oil Flow-Global-Radical Reform-Salaries-Value Natural Resources

MilitiaMan & Crew-Iraq Dinar News-Pressure Resume Oil Flow-Global-Radical Reform-Salaries-Value Natural Resources

1-22-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=6EKH4J2Msf0

Iraq Economic News and Points to Ponder Saturday Afternoon 2-22-25

UN: Iraq Is Going Through A Critical Phase And Al-Sudani Has A Clear Vision For Reform

The Special Representative of the Secretary-General of the United Nations, Mohammed Al-Hassan, stressed that Iraq and the Middle East region are going through a critical phase that requires unified efforts to ensure security and stability.

Al-Hassan said, during his speech at the seventh edition of the Baghdad International Dialogue Conference, that Iraq, with its long history, needs a constructive dialogue based on the country's interest, stressing the importance of cooperation to face challenges.

He pointed out that Prime Minister Mohammed Shia Al-Sudani has a clear vision for developing services and enhancing security and stability, stressing that the United Nations will continue to support Iraq in its efforts to achieve development and enhance stability.https://www.radionawa.com/all-detail.aspx?jimare=41240

Opportunity Or Risk? Parliamentary Oil Committee Explains The Impact Of Rising Oil Prices On The Iraqi Economy

Time: 2025/02/22 12:13:01 Read: 1,410 times   {Economic: Al Furat News} Zainab Al-Moussawi, a member of the Parliamentary Oil Committee, confirmed today, Saturday, that the rise in oil prices represents a great opportunity for Iraq to achieve financial stability, but at the same time it poses economic challenges if it is not managed wisely.

Al-Moussawi told Al-Furat News Agency that “the increase in oil prices leads to an increase in public revenues, which prompts the government to increase spending on salaries, services, infrastructure, and investment projects, which may enhance economic growth. However, she warned that this increase in spending may also lead to inflation if it is not well controlled.”

She added, "The increase in oil revenues reduces the need to impose taxes or implement economic reforms that may be unpopular, which reduces pressure on the government to diversify sources of income."

She stressed that "making the most of this opportunity requires wise financial policies that focus on diversifying the economy, enhancing investments, and reducing dependence on oil as the sole source of revenue."   LINK

Central Bank Sells Over $1 Billion In Auction Last Week

Time: 2025/02/22 13:24:24 Read: 1,020 times   {Economic: Al Furat News} The Central Bank of Iraq’s sales of hard currency in US dollars amounted to more than one billion dollars during the days in which it opened its auction last week.

During the past week, and during the 5 days in which the auction was open, it sold an amount of 1 billion, 456 million, 844 thousand, and 61 dollars, at a daily rate of 291 million, 368 thousand, and 812 dollars, which is a slight decrease from the previous week, when the sales rate was 293 million, 719 thousand, and 775 dollars.

He also pointed out that the highest dollar sales were on Monday, amounting to $298,486,800, while the lowest sales were on Tuesday, amounting to $286,030,709.

As for foreign remittance sales, they amounted to 1 billion, 383 million, 294 thousand and 61 dollars last week, compared to cash sales that amounted to 75 million, 550 thousand dollars.  LINK

Mazhar Saleh: Iraqi Banking Reform Needs To Enhance Transparency And Governance

Time: 2025/02/22 11:47:07 Read: 1,290 times  {Economic: Al Furat News} The Prime Minister's Advisor for Economic Affairs, Mazhar Muhammad Salih, confirmed today, Saturday, that banking reform in Iraq requires enhancing transparency and governance in the banking sector.

Saleh said in a statement to {Al Furat News} agency, "The operations carried out by banks operating in Iraq depend largely on the confidence of international correspondent banks in the local banking sector, which necessitates the need to provide great protection for Iraqi banks."

He pointed out that "the reform process must ensure that Iraqi banks are provided with the best transparency and governance tools, in addition to adopting the necessary applications to confront various risks and comply with international banking rules."

He added, "These measures are what everyone is looking forward to in the near future, to achieve stability and growth of the Iraqi banking sector and integrate it effectively into the international banking market."   LINK

Government Advisor: Iraq Advances 17 Places In Soft Power Index

Money and business  Economy News – Baghdad  The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, announced on Saturday that Iraq has advanced 17 ranks in the Soft Power Index compared to 2023, thanks to improvements in governance and infrastructure development, stressing that this progress reflects a noticeable improvement in the stability of the country's internal situation.

Saleh said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "Iraq's occupation of the 98th position globally in the Soft Power Index for the year 2025 is an important matter in this leap during one transitional year between the end of 2023 and the end of 2024,

and looking forward to 2025, as it comes 17 places ahead of its previous classification in 2023, which embodies the progress and stability witnessed by our country in a remarkable way, after it was ranked 116th globally in the year before the previous one."

He added that "Iraq has achieved acceleration in the subject of soft power during one continuous year between 2023 and the end of 2024 and moving forward to 2025, and this acceleration comes from among a set of factors and indicators of soft power that are usually used by global institutions interested in measuring the extent of the state's influence in its global scope through non-military means, such as culture, diplomacy, education, values, and innovation."

He explained that "one of the most prominent indicators used in the soft power rankings, which Iraq enjoyed in 2024, is its distinguished international reputation in the framework of foreign relations,

as our country's diplomatic capabilities in influencing global affairs and its international image are at their best levels, which have increased in recent years due to the flourishing of foreign activities and the network of positive relations with other countries provided by Iraq's open democratic climate as one of the most important of these factors."

He pointed out that "political and security stability in Iraq has witnessed a significant improvement, as internal tensions and conflicts that negatively affected the country's image in the world have disappeared, which has helped enhance Iraq's soft power."

He pointed out that "the ability of the government program, which has advanced its applications in developing the infrastructure and continuous improvement in basic services, especially security and digital services, was accompanied by an advanced movement of institutional governance, as the efficiency and transparency of government institutions increased, with the approval of the 2024-2028 development plan,

which committed to sustainable development and environmental protection, and providing high attractiveness for investment after announcing the principle of partnership between the state and the private sector within the philosophy of the social market, and announcing the strategic development road project as a project for Iraq's progress forward."

He added that "the high degree of interest in civilizational and cultural openness has made Baghdad the capital of tourism and culture in the world, which undoubtedly reflects the quality of life and the prevailing societal values ​​of the civilization of the Tigris and Euphrates Valley, which dates back more than 7,000 years, in addition to the keenness to highlight the role of national heritage in general and different ethnicities in particular, which had a positive impact on the strength of societal diversity and its transition from the national level to the external level."

He added, "Diversifying the economy, sustainable development and moving away from the rentier economy remain among the challenges facing the rise of soft power.

This is what the government program is working on with great care, supported by the prevailing trend in economic, social and political thought circles in Iraq on an ongoing basis through the process of national support for comprehensive economic development programs for the state and government, to build a better Iraq forever."  https://economy-news.net/content.php?id=52914

 For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/