It Includes Several Priorities.. Al-Najjar Explains The Strategy Of The Iraq Development Fund
Economy 02-22-2025, 15:54 Baghdad – WAA – Mohammed Al-Talibi The Executive Director of the Iraq Development Fund, Mohammed Al-Najjar, explained today, Saturday, the most prominent strategic priorities that the fund is working on to support economic growth in the country, while stressing the work to create new guarantees that allow citizens to obtain loans.
Al-Najjar said in a statement to the Iraqi News Agency (INA):
“The priorities of the strategy that the Iraq Development Fund is working on to
support economic growth in the country are to find and create projects capable of accomplishing several things, including
withdrawing the cash mass available to citizens,
finding investment outlets for it, and also rebuilding projects that
rebuild human capital in Iraq, in addition to projects that work to
improve the environment in all its aspects, whether the actual environment, the economic environment, or the community.”
He added that”the fund is also working to revive small and medium enterprises after
they were the basis of the economy, but today their role is very weak, and we are working to rebuild them, and we are also working seriously to restore the spirit of initiative and leadership among young citizens,” noting that
“working to create new types of guarantees that allow citizens to obtain loans other than the current guarantees.” He continued:
“We are also working on three types of projects, including
projects with a societal return, and
projects with a return on capital or what is called a catalyst, and our role is a catalyst, and we are working on so-called
growth projects, which are projects that generate money,” noting that “the nature of the
fund’s work is not only profit, but
our goal is development in all its forms,
human development,
wealth development,
water development, and
attracting the private sector to invest.”
Regarding the monitoring and evaluation mechanisms adopted by the Fund to ensure the efficient and transparent implementation of projects and the achievement of their desired objectives, Al-Najjar pointed out that
“there is an international company that does this work, and
it submits its reports to the Fund’s Board of Directors.
We also adopt international standards for financial accounting for this purpose, as
we have internal and external auditing, as well as an audit from the Audit Bureau.” https://www.ina.iq/228587–.html
Developing {Electronic Payment} In Iraq
First 2025/02/26 Baghdad: Hoda Al –Azzawi The country has recently witnessed a remarkable expansion in the use of electronic payment systems, whether in the private sectors such as companies, shops, markets, or in government institutions and departments.
This trend is part of the digital transformation strategy, which the
government seeks to achieve extensive financial and administrative reforms. In an interview with “Al -Sabah”, a government advisor, a member of a specialized team, explained that
electronic payment carries many advantages, most notably the
limit of corruption,
reduce financial waste, and
narrowing the gap in the lost tax amounts. The system also contributes to
accelerating the completion of transactions for individuals,
replacing the long queues in government departments with
smooth and rapid payment operations.
Dr. Mohamed Esmat Al -Bayati, a member of the advisory team for digital transformation in the General Secretariat of the Council of Ministers, stressed that
electronic payment is the cornerstone of the financial renaissance of Iraq. He added that
this system provides wider financial comprehensiveness,
which contributes to integrating large segments of society within the official banking system, and
thus reducing the size of the parallel economy and enhancing the stability of national criticism.
https://alsabaah.iq/110806-.html
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