Sudanese and Erdogan sponsor the signing of a four-way memorandum of understanding between Iraq, Turkey, Qatar and the UAE

Shafaq News / Iraqi Prime Minister Muhammad Shia al-Sudani and Turkish President Recep Tayyip Erdogan sponsored, in Baghdad today, Monday, the signing ceremony of a quadripartite memorandum of understanding between Iraq, Turkey, Qatar and the UAE.

According to a statement received by Shafaq News Agency, the memorandum aims at joint cooperation on the strategic “development road project”, in the presence of members of the Turkish and Iraqi delegations, including ministers and advisors.

The memorandum was signed on the Iraqi side by the Minister of Transport, Razzaq Muhaibes, and on the Turkish side, by the Minister of Transport and Infrastructure, Mr. Abdulkadir Oraloglu. The Minister of Transportation, Mr. Jassim bin Saif Al Sulaiti, signed on behalf of the Qatari side, and the Minister of Energy and Infrastructure, Mr. Suhail Mohammed Al Mazrouei, signed on the Emirati side.

The memorandum includes the signatory countries developing the necessary frameworks for implementing the project.

It is noteworthy that the Strategic Development Road Project will contribute to stimulating economic growth and strengthening regional and international cooperation relations by achieving economic integration and striving towards a sustainable economy between East and West. It will also work to increase international trade, facilitate movement and trade, provide a new competitive transport route, and enhance economic prosperity. Regional.

Shafaq.com

Iraqi Dinar / US Dollar auction results for today 4-21-2024

Results of the foreign currency selling window for Sunday 4/21/2024

Advertisement No. (5108)

The amount:

Total amounts of transfers abroad (transfers, credits)
263,787,705

Total cash withdrawals
13,230,000

Total total sales
277,017,705

Note that: The selling price of documentary credits and international settlements for electronic cards is ( 1310 ) dinars per dollar.

The selling price for transfer amounts abroad is ( 1310 ) dinars per dollar.
The cash selling price is ( 1305 ) dinars per dollar.

cbi.iq/currency_auction

Will it become a tangible reality?.. A political vision about Sudanese’s visit to Washington

Political analyst, Haider Al-Barzanji, believes that the results of Prime Minister Muhammad Shiaa Al-Sudani’s visit to Washington will turn into a tangible reality on the ground.

Al-Barzanji said that: “Sudanese’s visit did not come out of nowhere, but rather came after prior planning and study to move to another stage of relations, go to major companies, and revitalize the Iraqi economy.”

He added, “The Sudanese visit came to activate the framework signed with the United States, and Iraq is committed to the terms of the agreement, and the American side has committed itself to that, and there is seriousness to activate it.”

Al-Barzanji continued, “The results of the Sudanese visit will turn into a tangible reality on the ground and can be implemented as quickly as possible.”

He added, “Iraq today, with its calm policy, wants to give a different impression and identity, which is entirely its own, and it cannot be dealt with within an axis of other files.”
Al-Barzanji said, “The United States of America today is the one knocking on Iraq’s door to regulate relations with neighboring countries.”

Alforatnews.iq

Deputy: Iraq has begun investing its third largest natural wealth

Information / private… Representative Mudar Al-Karawi confirmed, on Sunday, the start of a strategy to invest in Iraq’s third largest natural wealth.

Al-Karawi said in an interview with Al-Ma’louma, “Iraq possesses huge reserves of phosphate, which is used in various industries, including fertilizers of all kinds, and which constitutes an economic sector whose financial ceilings worldwide reach tens of billions of dollars annually.”

He added, “Despite the huge reserves of phosphate, Iraq imports 60-70% of its needs from abroad, at double prices,” pointing out that “the government has actually begun to adopt a strategy of investing in phosphate, operating its factories, and pumping its production, especially since phosphate represents the third largest natural wealth.” In the country after oil and gas.

He pointed out that “the documented reserves in several regions of Iraq, especially the western ones, indicate that they are sufficient for production for many decades, meaning that we are facing a wealth that will not be depleted in the near term, in light of the presence of dozens of markets to receive it in order to revive agriculture.”

Iraq has huge reserves of phosphate, which are spread in 3 regions, most notably the west of the country, and form the backbone of the fertilizer industry.

Almaalomah.me

The Governor of the Iraqi Central Bank reveals the amount of the bank’s reserves of dollars and gold

Shafaq News / The Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed the amount of the bank’s reserves of US dollars and gold.

Al-Alaq told the CNBC Arabic website that the Central Bank has a foreign reserve of more than 100 billion dollars, indicating that the bank’s gold reserves amount to more than 130 tons, most of which are located in England.

Speaking about Iraqi foreign trade, Al-Alaq pointed out that the volume of trade with the UAE amounts to 17 billion dollars and is paid in UAE dirhams, pointing out that the First Abu Dhabi Bank is the one responsible for the trade transfers in UAE dirhams.

Shafaq.com

During Erdogan’s visit to Baghdad, approximately 40 memorandums of understanding will be signed between Iraq and Turkey

Shafaq News / Informed sources said on Sunday that dozens of memorandums of understanding in various aspects will be signed between Baghdad and Ankara during Turkish President Recep Tayyip Erdogan’s visit to Iraq scheduled for tomorrow, Monday.

The sources told Shafaq News Agency that during Erdogan’s official visit to Baghdad, which will begin tomorrow, about 37 multifaceted memorandums of understanding will be signed.

She added that one of the most important memorandums is the strategic framework memorandum for cooperation between the two countries, from which five committees and agencies are divided: security, water, economic, energy, and transportation.

The Iraqi ambassador to Ankara, Majid Al-Lajmawi, confirmed yesterday, Saturday, that the visit of Turkish President Recep Tayyip Erdogan to Baghdad will contribute to resolving the outstanding issues between the two neighboring countries, and will witness the signing of a strategic framework agreement.

Turkish Defense Minister Yasar Guler announced last Wednesday that President Recep Tayyip Erdogan will make an official visit to Iraq tomorrow, Monday, which is his first visit since 2011.

Turkish President Recep Tayyip Erdogan had previously confirmed that the water issue would be one of the most important items on his agenda during his visit to Iraq, while he hinted at visiting Erbil after Baghdad.

Erdogan indicated that Turkey is studying requests submitted by the Iraqi side regarding water, stressing that they will seek to solve this problem with them, adding: “They want us to solve it and our steps will be in this direction, and there are also issues related to the flow of natural gas and oil to Turkey, and we will seek to Treat it as well.”

Shafaq.com

Al-Hakim: Al-Sudani’s visit to Washington was a protocol and missed the two most important files

Information / Baghdad… Political analyst Muhammad Ali al-Hakim said that the visit of Prime Minister Muhammad Shia al-Sudani to Washington witnessed the absence of the two most important files related to the American military withdrawal from Iraq and the liberation of the currency from American hegemony.

Al-Hakim told Al-Maalouma, “A lot of attention is turning to the results of the Sudanese visit to Washington and its repercussions on the Iraqi reality, but the political data indicates that the results of the visit and its repercussions are no different from the results of visits of former prime ministers to the White House.”

He added, “The visit did not include delving into meaningful and important files for the Iraqi people, which are considered real crises in the country, as it witnessed the absence of the two most prominent files that Al-Sudani promised to present to the American leaders, which are satisfying the need for foreign forces in Iraq and liberating the Iraqi currency from American hegemony and influence, which made the visit Protocol and political, nothing more.

He pointed out that “the delegation, which exceeds 134 people, is devoid of political security figures or military ranks, whether the Minister of Defense, the Minister of the Interior, the Chief of Staff of the Army, or the National Security Advisor, which suggests that the discussion of the international coalition’s mission in Iraq and the exit of American forces was not present.” During the discussions, it did not take up space from the American side.”

Almaalomah.me

American immunity over Iraqi funds… How did it begin and what does it mean?

On May 22, 2003, former US President George W. Bush issued an executive order to protect the Development Fund for Iraq, in which the proceeds of oil sales were deposited, with the aim of protecting it from any legal prosecution.

After more than two decades, successive US administrations are still renewing this presidential executive order and other orders related to Iraq and aiming to protect its funds.

The current US President, Joe Biden, signed the decree extending the state of national emergency related to the situation in Iraq for another year, which stated: “There are still obstacles to the orderly reconstruction of Iraq, restoring and maintaining peace and security in the country, and developing political, administrative, and economic institutions in Iraq.” .

The statement added that these obstacles “pose an extraordinary threat to the national security and foreign policy of Iraq and the United States of America as well. Therefore, (Joe Biden) has decided that it is necessary to continue the state of national emergency declared under Executive Order 13303 regarding the stability of Iraq.”

What is Executive Order 13303?

The Executive Order is intended to protect the Development Fund for Iraq and certain other properties in which Iraq has an interest.

According to what was stated in the text of the executive order, then US President George W. Bush saw that there was a threat to seize or take other judicial measures against the Development Fund for Iraq and Iraqi oil and petroleum products and the revenues arising from them.

The executive order also stated that this situation “poses an extraordinary threat to the national security and foreign policy of the United States, and therefore a national emergency has been declared to address this threat.”

The order states that any seizure, judgment, decree or other judicial proceeding against the Development Fund for Iraq or Iraqi oil and petroleum products and the proceeds and obligations relating to their sale or marketing shall be null and void.

The Executive Order prohibits all US citizens and residents of the United States, as well as any entity organized under US laws, from filing lawsuits against Iraqi funds.

According to the US National Emergency Law, failure to renew the executive order within a period of 90 days from the date of the previous renewal means that it will become invalid.

Development Fund for Iraq

The Development Fund for Iraq was established after 2003, and before that, money from Iraqi oil sales was placed in an account managed by the United Nations within what is known as the Oil-for-Food Program.

In the mid-nineties of the last century, the UN Security Council resolution related to oil for food was issued and stipulated the sale of a portion of Iraqi oil in exchange for the purchase of medicines and food during the era of Saddam Hussein’s regime, which suffered international sanctions as a result of its invasion of Kuwait in 1990.

This situation continued until 2003, when a new Security Council resolution was issued under which most of the economic sanctions were abolished, provided that issues related to the invasion of Kuwait were resolved, such as compensation, prisoners, and others.

Alforatnews.iq

Central Bank: Forming an Iraqi-American committee to address violations of violating banks

The Governor of the Central Bank, Ali Al-Alaq, announced the formation of a committee with the Ministry of Treasury and the Federal Bank to address and correct the violations of the sanctioned banks.

Al-Alaq said in a press statement, “Washington praised Iraq’s measures in resolving 80% of the financial transfers file,” noting that “the Treasury Department and the Federal Reserve praised Iraq’s measures in the financial transfers file.”

He pointed out that “an international company has developed a road map to develop bank departments and improve their work technically.”

Al-Alaq noted that “the atmosphere of dialogues and discussions in Washington is very positive, and we have begun to enter into the details of the program plan and procedures that will be present soon through a delegation that will visit Iraq.”

Alforatnews.iq

An economic expert explains the reason for the scarcity of the dinar and reveals a “big mistake”

An economic expert explained the reason for the scarcity of the dinar in local markets.

Bassem Jamil Antoine told Al-Furat News Agency, “The scarcity of the dinar is due to the reasons people hoard it and use it for work and trading instead of the dollar and investing it.”

He added, “A process of dollarization of society was carried out, and this is a big mistake, until the public went towards buying property and real estate, and the dinar decreased from the street.”

Antoine continued, “There can be reassurance from citizens if the sanctioned banks are restored and dealt with correctly, and stability will return again.”

Alforatnews.iq