Rafidain Bank launches a banking transactions monitoring system in a number of its branches.

Rafidain Bank, in partnership with leading global and international institutions, announced the launch of the Daily Financial Transactions Monitoring (AML) system in six major branches of regulatory importance: Al Waziriyah, Al Muheet, Al Rafie, Al Dora Oil Complex, Zurbatiyah, and Safwan.

The bank said in a statement received by {Euphrates News} that: “The remaining branches will be included successively,” indicating that “this achievement comes as part of the bank’s commitment to implementing strict international standards in combating money laundering and terrorist financing, which is a basic requirement to enhance confidence in the Iraqi banking sector regionally and globally.”

He explained, “The new system enables advanced monitoring and analysis of financial transactions, which helps detect suspicious activities and reduce the risks associated with financial crimes. It also provides accurate centralized audit procedures by the Anti-Money Laundering Reporting Department to ensure full compliance with international regulations.”

The bank added, “This transformation also represents a qualitative leap, as it keeps pace with the latest global banking technologies, enhances transparency, and reduces reliance on paper-based procedures. This contributes to accelerating inspection and auditing processes and achieving unprecedented levels of financial security and economic stability.”

He stated, “With this step, the bank affirms its leadership in developing the Iraqi banking sector and preparing it for integration into global financial markets, which will enhance the confidence of investors and international correspondents and position Iraq in a leading position within the regional and international financial system.”

Alforatnews.iq

Among them is a strategic bomber… a joint air exercise between Iraq and the United States

Iraqi Air Force aircraft conducted a joint military exercise with US Air Force aircraft.
A statement by the Security Media Cell, a copy of which was received by {Euphrates News}, stated that “to develop the capabilities of the Iraqi Air Force and to raise readiness, a joint military exercise was carried out between a formation of Iraqi F-16 aircraft and a formation of US Air Force B-52 (strategic bomber) and F-15 aircraft.”

The statement added, “This exercise demonstrated the Air Force’s high readiness to confront security challenges.”

He pointed out that “the exercise aims to strengthen military relations, exchange expertise in planning and implementation, unify the concept of joint action, and open new horizons for future military cooperation between several countries, including France, the United States, and Italy.”

Alforatnews.iq

Al-Sudani forms a 40-member council to promote the private sector

The Ministry of Planning announced on Sunday the issuance of a royal decree to form a private sector development council, headed by the Prime Minister. The council’s members will be 40.

The ministry said in a statement received by Shafaq News Agency, “A royal order was issued to form the Permanent Private Sector Development Council, headed by Prime Minister Mohammed Shia al-Sudani, and two deputies. The first is Deputy Prime Minister and Minister of Planning Mohammed Ali Tamim, while the second deputy will be a representative of the private sector, elected by the council members.”

She added that “the council consists, in addition to the first and second deputies, of (38) members, (10) of whom represent the government agencies related to the private sector development file, while the (28) members represent the various activities under the banner of the private sector, which include industrial and agricultural activities, banking sectors, contracting and public investments, entertainment investments, hotels and restaurants, general trade and commercial agencies, communications and health, private education, residential activity, real estate development and energy.”

She pointed out that “the council includes a group of experts and representatives of youth and entrepreneurship,” explaining that “the Permanent Council for Private Sector Development is of great importance, as it is the effective representative of all economic activities in this sector, and will play a fundamental role in formulating economic and investment policy, contributing to achieving a true partnership with the public sector.”

Shafaq.com

Ministry of Oil: Planning to increase oil production to more than six million barrels per day by 2029

The Iraqi Ministry of Oil announced ambitious plans on Sunday to increase oil production to more than 6 million barrels per day by 2029, citing an agreement with BP to develop four oil fields in Kirkuk. Undersecretary of the Ministry of Oil, Bassem Mohammed Khudair, stated that the ministry is working to increase oil and gas production capacity within a clear five-year plan, aiming to reach this figure between 2028 and 2029.

Khader added that the ministry seeks to achieve these goals through various projects in all governorates, leveraging the exploratory activities undertaken by the Oil Exploration Company, in addition to the drilling and production operations taking place in the fields under the six licensing rounds.

Among the most prominent current projects highlighted by Khadir was the integrated gas development project in the south, in the Artawi field, along with other projects, most notably the development of four important oil fields in Kirkuk. An agreement has been reached on this matter, and the final contract with BP is scheduled to be signed in the coming days.

The Undersecretary also emphasized that national extraction companies are now responsible for 70% of operational activities in the oil sector.

Burathanews.com

Rashid to an American newspaper: Iraq is ready to mediate between Washington and Tehran

Iraqi President Abdul Latif Rashid confirmed on Tuesday that Baghdad wants to play a mediation role between Washington and Tehran, while calling on US President Donald Trump to implement his promises regarding ending conflicts in the Middle East.

“Iraq has changed a lot from what it was under Saddam Hussein, and the time of entering into conflicts and challenging the rights of other countries is over,” Rashid said in an interview with the Washington Times, translated by Shafaq News Agency. “Some major companies, in the energy sector and others, are active here in petrochemicals and oil, and I don’t think we are facing a conflict with the United States. On the contrary, we welcome all the help we can get from the United States, and we want to have a really good and friendly relationship with the United States.”

He pointed out that “Iraq can play an important role in mediation because it is in constant contact with Iranian policy,” indicating that “Iraq has no reservations about meeting senior Iranian officials, and has played a role in making Iran and Saudi Arabia understand each other, and re-establishing the diplomatic service, which has benefited everyone, and has also made some suggestions to Jordan and other countries.”

Regarding Iraq’s possible role in Syria, the president continued, saying, “It is clear that Syria is an independent state and has a new administration or new rulers, and we want the Syrian government to reflect the will of the Syrian people, either through elections or through the democratic steps that must be taken,” stressing that “the Syrian administration must try to accommodate all segments of society, so that no one feels that he has been excluded or not treated as an ordinary citizen.”

He stressed that “there is one very important point for Iraq, which is the presence of large numbers of terrorists or families of terrorists on the Syrian border, and there is concern about that, and some arrangements must be made so that the border does not get out of control.”

Asked if the Iraqi president would receive an invitation to visit the United States, Rashid said, “I honestly don’t know. I sent President Trump a congratulatory message and encouraged him to implement what he promised to maintain peace in the world, to end conflicts,” noting that “life will not be easy, especially in our region, where we have conflicts in Syria, in Palestine, and we have problems in Lebanon, in Yemen, in Sudan, and in Somalia.”

Shafaq.com

Iraqi government announces establishment of “National Mobile” in partnership with Vodafone

The Iraqi government agreed during its meeting today, Tuesday, headed by Mohammed Shia Al-Sudani, to establish the “National Mobile Phone” to operate the fifth generation in partnership with “Vodafone”.

Al-Sudani’s media office said in a statement received by Shafak News Agency that the Council of Ministers approved the establishment of the National Mobile Phone Company, with the contribution of the Ministry of Communications, the National Retirement Authority, and the Trade Bank of Iraq.

He explained that the company will operate the national license for fifth-generation technology, in cooperation with the international telecommunications company Vodafone.

In turn, Minister of Communications Hiyam Al-Yasiri said in a video statement, “The Council of Ministers issued a decision to establish the National Mobile Phone Company with the contribution of the Ministry of Communications represented by the General Peace Company, the Trade Bank of Iraq, in addition to the National Retirement Authority, with the aim of maximizing the employees’ retirement fund and providing subsidized services to retirees.”

She pointed out that “the ministry is proceeding to complete the technical preparations for the project with Vodafone International and the Communications and Media Commission,” indicating that “this project was part of the government’s ministerial curriculum decisions and will be implemented soon.”

Last December, Minister of Communications Hiyam Al-Yasiri announced that the Council of Ministers had issued an important decision approving the selection of Vodafone International as the operator of the national government license for 5G mobile phones, which came based on the recommendations of the negotiating team formed by the Ministry of Communications.

The decision authorized the Ministry of Communications to negotiate to provide financial support to prepare the preliminary procedures for launching the project, which will be implemented in the coming months.

Shafaq.com

World Bank confirms strengthening financial stability in Iraq

Minister of Finance Taif Sami stressed, on Tuesday, the importance of the ongoing partnership with the World Bank, and Iraq’s aspiration to benefit from the technical and financial support it provides in implementing strategic projects to stimulate economic growth and provide job opportunities .

The minister said during her meeting with the World Bank representative, Jean-Christophe Carret, according to a statement issued by the Ministry of Finance and received by Shafak News, that “cooperation includes areas related to infrastructure and human development .”

The statement added, “The meeting discussed ways to enhance economic and financial cooperation between Iraq and the World Bank, and reviewed a number of key topics related to enhancing financial stability in Iraq, in addition to discussing development projects that the two parties seek to implement with the aim of achieving sustainable development .”

For his part, the World Bank representative, according to the statement, expressed the bank’s commitment to continue supporting Iraq in achieving its development goals, noting that “the World Bank pays great attention to enhancing Iraq’s ability to face economic and development challenges, with a focus on sustainable development and achieving comprehensiveness in the benefits achieved .”

Shafaq.com

Central Bank Governor: Iraq has one of the highest gold reserves in the Arab world at 162 tons

Al-Alaq stated in a statement to the official agency that “the Central Bank is closely monitoring the movement of gold and currencies,” noting that “part of diversification to ward off any risks is to have a percentage of gold reserves, especially in recent years, there have been continuous purchases.”

He added, “Iraq today has 162 tons of gold, which is one of the highest reserves in the Arab world, and we are the fourth country in terms of the size of the gold reserves we have.”

Burathanews.com

Ministry of Transport prepares a plan to develop its maritime fleet and enhance operational capabilities

The Ministry of Transport announced today, Tuesday, a plan to develop the operational capabilities of the transport sector and increase its maritime fleet during the current year. The Director of the Ministry’s Media Office, Maitham Al-Safi, confirmed that the Ministry is currently negotiating with a number of companies specialized in the field of maritime transport and logistics services.

He explained that the aim of these negotiations is to transfer modern technology and develop operational capabilities in line with international standards, which enhances Iraq’s position as a strategic centre in the maritime transport sector in the region.

Al-Safi also pointed out that the expansion of the maritime fleet will enhance the national maritime carrier’s ability to compete with global maritime companies, and open new horizons for cooperation with international partners.

While he stressed that the Ministry is committed to applying the highest standards of quality and safety in all its maritime operations, in order to ensure the provision of distinguished and reliable services to its customers.

Burathanews.com

Prime Minister receives phone call from US National Security Advisor, discusses deepening strategic partnership between the two countries

Prime Minister Mohammed Shia al-Sudani affirmed Iraq’s commitment to expanding economic relations with the United States, while the latter indicated that ending the exemption for electricity supplied from Iran is linked to the policy of maximum pressure, as the office stated in a statement that al-Sudani “received a phone call on Sunday evening from US National Security Advisor Michael Waltz, where the two sides affirmed their commitment to strengthening and deepening the strategic partnership between Iraq and the United States.”

Discussions focused on “enhancing bilateral cooperation in the economic and security fields,” with the Prime Minister affirming “Iraq’s commitment to expanding economic relations with the United States,” encouraging American companies to “invest in the growing Iraqi market,” and reviewing the important reforms and initiatives implemented by his government to create a more stable, transparent, and attractive environment for investors.

In return, the US National Security Advisor, according to the statement, encouraged “the Prime Minister to rely more on American companies, and to work to solve the problems and remove the obstacles facing those companies operating in Iraq, including the Kurdistan Region of Iraq, to ​​encourage them to work and invest in Iraq.”

The two sides stressed “the importance of joint efforts to build a strong Iraq capable of relying on itself, and the discussions also included addressing issues and the role of American companies operating in this field.”

The United States renewed its “commitment to supporting Iraq’s energy independence” and expressed its readiness to cooperate in accelerating the achievement of this goal.

Regarding the security file, Waltz stressed “the United States’ firm commitment to the security and stability of Iraq in the face of regional and international challenges,” and the two sides stressed the importance of continuing cooperation to ensure Iraq’s sovereignty and stability in the long term, especially in light of the turbulent conditions in the region.

“Ending the exemption for electricity supplied from Iran is linked to the maximum pressure policy, which underscores the importance of bilateral coordination to avoid any potential negative effects on Iraq’s stability,” Waltz added.

Burathanews.com