Iraq is close to completing its financial transfers electronically.. and the US Treasury reveals its economic growth rate

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The Prime Minister confirmed, according to the statement, that the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform, and less than 5% will be completed by the end of this year, after which the transition to the correspondent banking system will take place, in accordance with the government's approach and commitment to raising the capabilities of Iraqi banks, in line with international standards and meeting the needs of the thriving investment environment in Iraq. For his part, Adeyemo praised the progress witnessed by Iraq in the field of economic and banking reforms that were achieved in record time, and the state of economic growth that reached a total of about 6%, which enhances the government's efforts in development, expressing readiness to cooperate and work within a bilateral partnership that serves the interests of economic development.

Central Bank of Iraq launches Financial Sustainability Map Project

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He added, "If these standards are important for any economic entity or company, regardless of its activity, mission and products, then their importance to the financial sector is a matter of utmost importance, given the significant impact that social and environmental changes have on the reality of this sector and what is required to manage it according to regulatory, supervisory and technical rules that avert risks to guarantee the rights of shareholders and stakeholders within a framework of transparency and disclosure, and above all, to contribute to achieving financial stability, the repercussions of which are reflected in the economic and social environment and general stability, just as the environmental and social repercussions are reflected in stability."

Al-Alaq: We are constantly reviewing the deletion of zeros from the dinar, and there are no restrictions on our balances in America

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Countries remove zeros from their currency to revalue their national currency and simplify financial transactions. This is done by removing a specific number of zeros from the nominal value of the currency, making it appear less inflationary and more stable.

Al-Alaq confirmed, in an extensive interview with Al Jazeera Net, which was reviewed by "Al-Eqtisad News", that the Central Bank responded to global economic challenges, such as rising energy and raw material prices, by amending some monetary policies in line with the international situation and to enhance confidence in the Iraqi dinar and prevent a sharp decline in its value.

Al-Sudani heads to New York to participate in UN General Assembly meetings

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Prime Minister Mohammed Shia Al-Sudani will head to New York tomorrow, Saturday, to participate in the meetings of the 79th session of the United Nations General Assembly .

Al-Sudani's media office said in a statement received by "Baghdad Today" that the latter "will leave tomorrow, Saturday, heading to New York, at the head of the official delegation participating in the meetings of the United Nations General Assembly in its seventy-ninth session ."

He added, "He will deliver Iraq's speech before the General Assembly, and he will also deliver a speech at the Future Summit, in which many heads of state and presidents will participate, and which is concerned with enhancing cooperation, facing challenges, and affirming commitments ."

It's no longer useful" .. Al-Sadr cancels "expected million-man demonstrations" in Baghdad

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Al-Sadr said in a tweet on the (X) platform: “After the Zionist recklessness and terrorism in Palestine and Lebanon, with the public cover of the great evil America, and their failure to respond to international resolutions and humanitarian appeals, and their disregard for the voice of the peoples rising up against the systematic Zionist-American terrorism that wants to drag the entire region into a war of extermination, I find it logical to cancel the expected million-man demonstrations.”

Apple suggests phone registration initiative as a part of Iraq's digital transformation

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Al-Sudani highlighted Iraq’s ongoing shift towards a digital economy, noting that the High Committee for Digital Transformation, which he chairs, is driving this effort. "Iraq is experiencing significant changes in the digital sphere," he said, adding that the country has become an attractive environment for major international companies, necessitating "rapid digital adaptation."

He emphasized the importance of enhancing digital and technological skills among Iraq’s youth to "expand job opportunities and support government programs aimed at achieving a fully integrated digital system for public services."

Dollar crisis: Changing exchange rates will create “huge problems” and smuggling is led by a “deep state”

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Al-Tamimi told Baghdad Today, "The money market is suffering from major challenges and is exposed to tremors at any moment, especially since the ability to control it is limited in most areas, with the continued smuggling of the dollar, which has become a lifeline for names and entities representing the deep state in the country in order to maintain its influence."

2024 Budget: A Sloping Path to Rolling Hopes

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The draft general budget law is “the legislative authority’s approval of the general budget, i.e. its approval of the government’s expectations for public expenditures and revenues for the coming year and its approval thereof in a manner that authorizes the government to disburse appropriations within the specified limits in terms of quantity, purpose, and time period, in accordance with the financial procedures and accounting principles established in this regard.”

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A word from Al-Sudani at six o'clock last evening

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Al-Sudani said in his televised speech, addressing the Iraqi people: “Direct discourse is our permanent approach to building trust with you,” indicating that “the government was formed in circumstances that are still evident in the memory of the recent past and the political intersections that preceded it and the absence of a comprehensive vision in managing the state.”

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The Central Bank of Iraq reveals the mechanism for ending the electronic platform

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he bank said in a statement received by "Baghdad Today", that "the electronic platform for foreign transfers managed by the Central Bank of Iraq began at the beginning of 2023 as a first stage to reorganize financial transfers in a way that ensures proactive oversight of them instead of subsequent oversight by the Federal Reserve auditing daily transfers, and this was an exceptional procedure as the Federal Reserve does not usually do this, and a gradual shift was planned towards building direct relationships between banks in Iraq and foreign correspondent and approved banks, mediated by an international auditing company to conduct a pre-audit of transfers before they are executed by correspondent banks."