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Tag: Economic News

The World Bank imposed Condition over Funds Transferring: Al-Fayez

The World Bank imposed Condition over Funds Transferring: Al-Fayez

On Sunday, a member of the Iraqi Committee on Economy and Investment Representative, Amer Al-Fayez said that the news regarding the condition imposed by the World Bank. He said that the condition of the World Bank bounds that continuity of funds collected from donor conference is only expected under the supervision of the Bank. He indicated that Iraq has been found involved in massive amount of administrative corruption, so there is a fear of handling money because it is just…

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The World Bank Announced Conditions on Granted Loan for Iraq

The World Bank Announced Conditions on Granted Loan for Iraq

The World Bank has announced the loan conditions and financial support providing to Iraq. The Bank pointed out that the World Bank doesn’t need to impose heavy conditions of the Iraqi government. It is due to the government of Iraq is much dedicated in achieving reforms in order to attract international investment and foreign investors from all around the world. The Bank stressed its commitment to work with Iraqi government and providing its full support for reconstruction process in the…

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At least $330 Million Promised by International Organizations for Iraq

At least $330 Million Promised by International Organizations for Iraq

On Monday, a large number of International relief associations, International non-governmental organizations, public benefit societies, and Kuwaiti relief societies engaged in making deposit guarantees amounted at 330.130 million U.S dollars for reconstruction and development programs in Iraq. The KUNA (Kuwait News Agency) attended guarantee session took place on the sidelines of a conference of non-governmental organization, in order to support the humanitarian efforts in Iraq. The session was conducted in presence of the Deputy Prime Minister and Foreign Minister of…

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Dealing in Bitcoin Currency will be Considered Money Laundering Crime: CBI

Dealing in Bitcoin Currency will be Considered Money Laundering Crime: CBI

The Iraqi Central Bank issued a statement that the CBI doesn’t deal with the Bitcoin currency. The Bank also warned that currency dealers will be subjected to the cramping of the money laundering law. Point to be noted that Bitcoin has been considered a virtual electronic coin currency and it just trades online. The head of the CBI information office, Isser Jabbar said in a statement that the Bitcoin currency is being traded online without its physical presence. It just…

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Iraqi Budget 2018 Reached in Iraqi Parliament for Voting

Iraqi Budget 2018 Reached in Iraqi Parliament for Voting

On Wednesday, a member of the Iraqi Parliamentary Finance Committee, Majida Al-Tamimi issued a statement that the draft budget bill 2018 has arrived in the Iraqi House of Representatives. She also confirmed that 12.68% in the total amount of federal budget 2018 included for the Kurdistan Region. Al-Tamimi said in a press interview that the Presidency of the House of Representatives has received a copy of the draft budget law 2018 on Wednesday evening. She indicated that the Iraqi federal…

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Al-Abadi has Finalized 1st File of Corruption $ 6 Billion & Involved 50 Officials

Al-Abadi has Finalized 1st File of Corruption $ 6 Billion & Involved 50 Officials

On Tuesday, the newspaper The New Arab reported that issuance of a number of files regarding the war against corruption scheduled in the start of next year by the Iraqi Prime Minister Haider Al-Abadi. The newspaper pointed out that these files have been exceeded the theft of more than 6 billion U.S dollars. Initially, there is a list of 50 officials, including Iraqi Ministers, Deputy Ministers, former and current Iraqi Politicians, General Directors and members of Iraqi Parliament. The paper…

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CBI will Facilitate Local & Foreign Investors Regarding issuance of Loans

CBI will Facilitate Local & Foreign Investors Regarding issuance of Loans

The Iraqi Central Bank has instructed the Iraqi financial institutions regarding issuance of loans to investors, but loans should be issued to those who have completed rates and reached at least 25%. These measures have been taken due to financial crisis in the country after experiencing low global oil prices. The Investment Sub-Committee head in the Iraqi Parliament MP Burhan Al-Mamouri said in a press statement that financial crisis in the country have continuously disturbed the Iraqi economy since last…

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Iraq is at the stage of Development and Investment: Iraqi Planning Ministry

Iraq is at the stage of Development and Investment: Iraqi Planning Ministry

On Sunday, the Iraqi Minister of Planning Salman Jumaili issued a statement that Iraq is currently at the stage of development and investment. It is due to a significant amount of interest shown by various countries and international companies. They are interested in entering in the suitable investment environment of Iraq. It has shown a great achievement because Iraq is at the entrance of a new stage after defeating Islamic State and other terrorist groups. The brave Iraqi forces have…

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