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Month: April 2019

Iraq and Saudi Arabia signed 13 MOUs and Agreements

Iraq and Saudi Arabia signed 13 MOUs and Agreements

The Iraqi Prime Minister Adel Abdul Mahdi and King Salman bin Abdul Aziz arranged a meeting at the Royal Palace in Riyadh. The meeting took place for the Joint High Coordination Committee Agreements and the MOU (memorandums of understanding). Abdul Mahdi said, “Saudi Arabia is a neighbor, a brotherly and developed country, and Iraq’s openness to Saudi Arabia serves the interests of both countries and peoples. Iraq is a country rich in human and natural wealth, but it has been…

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Iraqi Government and Private Bank’s deposits reached at 76.89 Trillion Dinars in 2018

Iraqi Government and Private Bank’s deposits reached at 76.89 Trillion Dinars in 2018

On Monday, the executive director of the Association of Iraqi Private Banks, Ali Tariq pointed out a significant amount of increase in government and private deposits in commercial banks operating in Iraq amounted at 76.89 trillion Iraqi dinars during 2018. Tariq said in a statement, “The government and private deposits in commercial banks increased by 9.84 trillion Iraqi dinars during 2018. It is due to the procedures of the Iraqi Central Bank in support of the Iraqi banking sector, including…

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Iraq discussed Reconstruction and Economic Development support with the World Bank

Iraq discussed Reconstruction and Economic Development support with the World Bank

The Iraqi Finance Minister Fuad Hussein plans to discuss future cooperation between Iraq and the World Bank according to the priorities and needs of the Iraqi government. The finance minister arrived in Washington and discussed with the President of World Bank Group, David Malabar. The ministry of finance issued a statement that they discussed the role of the Bank in supporting the plans of Iraqi government human development, sustained economic growth, reconstruction of a post-Saddam Iraq, as well as an…

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IMF Warning on increasing Risks to Global Financial Stability

IMF Warning on increasing Risks to Global Financial Stability

On Wednesday, the IMF (International Monetary Fund) issued a statement about the expected challenges to the global financial system. The statement has indicated that these risks have increased over the past 6-months. It can show further increase as Britain leaves the European Union without agreement and increasing trade tensions between the United States and China. The IMF started has started its spring meetings with the World Bank in Washington. The statement also pointed out that the world economic growth was…

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Rafidain Bank’s investment projects including 5 Schools in Each Province and Baghdad Metro

Rafidain Bank’s investment projects including 5 Schools in Each Province and Baghdad Metro

Rafidain Bank has announced the financing of a number of large investments in service projects. These projects include Metro Baghdad amounted at 5 trillion Iraqi dinars. The Bank also announced a number of major laboratories in the country in collaboration with government banks under the supervision of Iraqi Central Bank. The director of Rafidain Bank, Khawla Talib Al-Asadi issued a press statement that the Central Bank of Iraq has adopted a project in providing offers by all government banks. The…

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Historic Agreements at the End of Iraqi-Saudi Coordination Council Meeting

Historic Agreements at the End of Iraqi-Saudi Coordination Council Meeting

The General Secretariat of the Iraqi Council of Ministers issued a statement that a number of agreements have signed at the end of Iraqi-Saudi Coordinating Council meeting. These agreements were related to investment, banking, trade, security, and tourism. Saudi Arabia has delivered a list of 891 items of its products amid of reducing or exempting from customs duties. The Secretariat said in a statement that they also offered a proposal to open a free zone in Arar port after opening…

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A New MOU signed between Iraq and the World Bank

A New MOU signed between Iraq and the World Bank

On Wednesday, the Iraqi Minister of Planning, Dr. Nouri Sabah al-Dulaimi has signed an MOU (memorandum of understanding) on behalf of the Iraqi government with the World Bank. The new MOU will support the efforts to restore stability and reconstruction in the Iraqi liberated areas, signed by the World Bank Director of Sarig Kumar Jah. The ministry of planning issued a statement that the signed MOU will contribute to support and increase the quality of infrastructure projects funded by the…

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Iraq needs 3-years exemption to implement U.S demands following sanctions on Iran

Iraq needs 3-years exemption to implement U.S demands following sanctions on Iran

The Speaker of Iraqi House of Representatives, Mohammad Halboussi asked the United States grant Iraq another deadline prior it committing to impose sanctions against Iran. He said “Iraq needs at least 3 years and we will do what you want. Just give us a comprehensive deadline due to our country is currently unable to stop Iran’s energy supplies”. It is noteworthy that energy supplies from Iran fulfill at least 30% of Iraqi needs. On Saturday, the President of the House…

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