Chella Smith Dinar Reforms (Uncut) 12-14-2024

And getting paid if projects are tied to federal Iraqi budgets, especially from the GoI entities. Hello everyone. Welcome back to Newswoman Charles Smith with Your Middle East US entertainment news here on YouTube I air on Fridays. I bring you the latest on reforms and economics of Iraq based on reports put out by the Middle east news media outlets.

I do this weekly review and it’s based off my interest interest. Thank you everyone for joining me. Last week we had a delay in our program because we were helping Benny Ray’s barbecue team out. They were raising money and funds and coats, jackets, heaters and donations for the residents of North Carolina.

I want to say thank you to all those who donated and participated with that help and we’ll keep you updated on that. The week before that we had been talking about global digital transfers, artificial intelligence, the banking sector and business sector. Let’s take a look at this week’s headline. Political researcher Ahmad Al Yasari predicts that the Middle east will undergo significant changes after Donald Trump takes office.

He believes that the region is entering a new phase with Iraq at the forefront of these changes in terms of security and economic reality. Al Yasari also noted that Iraq will face internal events related to security aspects of weapons filed outside the state control, which Trump plans to significantly limit as part of his policies of trimming Iran’s arms in the region. Trump will assume his duties as US President on January 20. Has been making proactive statements about development in the region, including the possibilities of there will be hell in the Middle east if detainees in Gaza are not released before his inauguration, reported by Baghdad today.

And Secretary of State Anthony Blinken visits Iraq to discuss the future of Syria. He met with Iraqi Prime Minister Mohammad Shia Sudani and pledged to prevent the return of isis. Blinken also calls on Iraq to strengthen its sovereignty and stability. The US Secretary of State is currently conducting a regional tour to discuss the situation in Syria following the fall of Assad’s regime and the armed opposition assuming power earlier in the week.

Prime Minister has announced the restructuring of Rafidan bank, the first economic reform in the banking sector in Iraq. The bank faces internal problems including debts, low credit capacity and difficult meetings obligations. The restructuring aims to improve efficiency, reduce cost and promote decentralization. However, challenges including attracted significant capital, low savings rates and high cost of modern technology and training workers.

The program aims to achieve financial stability and two objectives, restructuring the operation sides to comply with minimum capital adequacy and hedging requirements and establish objectives for the bank’s future. You can find more on these articles over on Patreon the Arab Tourism Organization has selected Baghdad as the capital of Arab Tourism for 2025 following criteria set by the Organization. The selection was made after 27 session meetings of Arab Ministerial Council of Tourism. The Organization plans to implement various events and programs to develop Arab tourism between Iraq and the region.

Iraq’s Undersecretary for Foreign Affairs, Mohammed Hussein Bear Alum has emphasized the importance of strengthening bilateral relations with Greece. The Iraqi government has allocated a 100 billion budget for major strategic projects over three years, including infrastructure, development and energy productions. Bar Alum highlighted the importance of real partnerships built on common interest and potential for Greek companies to invest in promising Iraqi markets. The Iraqi government’s vision includes connecting east and west at the lowest cost and establishing new economic cities.

The Central bank of Syria has reassured Syrians about the deposits in banks and assured them that their money is saved. The bank stated that the currency in circulation in Syria is the Syrian pound and no trading category has been withdrawn. The bank directed exchange and internal remittance companies to commit to handing over remittances to their entitlements in Syrian pounds in accordance with the current regulations. The Central bank of Syria confirms that all information and decisions related to work of banking and non banking financial institutions are issued by the bank and will be announced exclusively on its website.

The bank continues to monitor and supervise the work of banking and non banking financial institutions in a accordance with current regulations. McTodder Al Sauders has arrived back on the scene. He’s the leader of the Solderist movement and has said that he has resigned from public life in protest against some of his followers actions. He stated that his decision was influenced by the recent incident where some Solders movement members allegedly tampered with images and morals of prominent figures, promoting the movement’s leaders to arrest the perpetrators and hand them over to security forces.

Solders believes that the people are still influenced by west plans and corruption practice, per Shafak News. Shafak also reported the Iranian Rial experienced a significant decline against foreign currencies with the US dollar reaching an unpredicted level of 730,000 real. The Iranian economic media reported that the US prices on Tyran Stock Exchange also reported 740,000 R. The gold and currency markets have been impacted by ongoing development in Syria with the US dollar prices in free markets before Bashar Al Assad falls being around 710,000 rial.

The central bank of Iraq has announced the launch of Riota Bank, a new financial institution designed to support small and medium enterprises. The bank will provide loans for projects with small and medium sized loans, aligning with government’s vision for supporting graduates and entrepreneurs and development label markets. The Governor Ali Alalak announced the launch on October 14, stating that Briida bank will be a unique bank offering non traditional products that will create job opportunities for various social groups. The bank services will be available for financial small projects the association of Iraqi Private Banks Participation in the launch of the Youe House is on US Initiative in Baghdad organized by Hammurabi bank and the Central bank of Iraq.

Deputy Executive Director Aman Al Hashemi highlighted the association’s role in supporting housing projects and solving the housing crisis by strengthening cooperation between banking and the private sector. The initiative aims to provide affordable housing units for citizens by offering a 25% discount on construction fees and installment systems over seven years. The U.S. state Department 2024 Investment Climate Statement for Iraq highlights key areas such as openness to foreign investment, bilateral investment and taxation treaties, legal regimes, industrial policy, property right protection, financial sectors, state owned enterprises, responsible business conduct, corruption, political instability environments, labor policies and practice and the U.S.

international Development Financial Corporation, the DFC and other investment insurances and development financial programs. Iraqi Constitution grants that the Iraqi Kurdistan region semi autonomous rights making it popular starting point for US businesses in Iraq. The non state, non oil economy, informal, cash based and vibrant offering opportunities for investors. However, some militia groups influenced by Iran remain deployed under nominal God controlled and have been implicated in criminal activity.

Investors should complete due diligence on Iraqi partners before entering commitments as Iraq’s courts are ill equipped to sort out dishonorable commercial issues. Iraq took a positive step in 2024 by signing the UN Signapore Convention on Commercial Mediation. However, companies could face long delays in getting paid if projects are tied to federal Iraqi budgets, especially from the GOI entities. Despite these challenges, the Iraqi markets offer potential for US excellent exporters.

Iraq’s regulatory imports, US Rice, agricultural commodities, machinery, consumer goods, aircraft, defense articles, government contracts and tenders continue to be the source of the most commercial opportunities in all sectors. The GOI closed a 27 billion energy sector deal with France Total Energy in 2023 and other deals are in the works that could help Iraq’s produce additional energy and you’ve been watching Newsroom Weekly Review I’m Chella Smith with your Middle East US Entertainment news here on reforms and economics of Iraq. I bring you the latest in our news without having to keep up with all the different outlets. I’m here on YouTube every Friday, so don’t forget to subscribe.

And turn those notification bells on if you like my content, give me a thumbs up if you really like my content. You can always seed a super chat or a super thanks in the comments section below. You can also find us on Patreon Daily. Again, thank you for being a subscriber and thank you for visiting Newsroom Charles Smith for your trust with our news.

I’ll see you guys next week. Take care. Make sure you join us Fridays, 4pm with Newsroom Updates with Chelsea Smith Entertainment News.