A State-Owned Bank Details The Mechanism For Obtaining The 200 Million Dinar Loan
Banks Economy News – Baghdad Rashid Bank announced on Monday details of the mechanism for obtaining a home purchase loan worth up to 200 million dinars, allocated to employees whose salaries are domiciled with the bank and citizens in general. The bank explained in a statement received by Al-Eqtisad News that the loan will be disbursed in two installments:
The first installment is disbursed after submitting the documents required to open a statement from the Real Estate Registration Department. It amounts to 50 million dinars if the requested loan amount is 100 million dinars or more, and 25 million dinars if it is less than 100 million dinars.
The second payment is disbursed after the mortgage transaction is completed.
He pointed out that if the borrower wishes to obtain the full loan amount, he can submit an alternative real estate deed in his own name or in the name of a third party, and mortgage it to the bank for a period of six months until the new property is submitted. A property registered in the borrower’s name may also be accepted to obtain the full loan.
The bank explained that the guarantees include mortgaging the property to the bank, with a guarantor covering half the loan amount and interest from the guarantor’s salary. The bank may accept more than one guarantor if necessary, provided their salary is domiciled with the bank. https://economy-news.net/content.php?id=54905
The Minister Of Foreign Affairs Stresses The Need To Simplify Consular Services Provided To The Iraqi Community In The United States And Improve Their Quality
Monday, April 28, 2025 9:50 PM | Politics Number of reads: 197 Baghdad / NINA / Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein stressed the need to simplify consular services provided to the Iraqi community in the United States and improve their quality.
A statement by the Ministry of Foreign Affairs said: “The Minister visited the Embassy of the Republic of Iraq in Washington, on Monday, where he met with the Iraqi Ambassador to the United States of America, Nizar Al-Khairallah, and members of the embassy staff.”
The visit came, according to the statement, within the framework of following up on the progress of diplomatic work and strengthening relations between Iraq and the United States, coinciding with the discussions that the Minister is holding with American officials during his current visit to Washington.
During the meeting, the Foreign Minister discussed with the embassy staff ways to develop the strategic partnership between the two countries, especially in the political, security and economic fields, in line with the agreements signed between the two sides, foremost of which is the Strategic Framework Agreement.
The meeting also discussed, according to the statement, the ongoing preparations for the meeting of the Joint High Committee between Iraq and the United States, scheduled to be held soon, which will discuss cooperation in several fields, stressing the importance of good preparation for these meetings.
The Minister praised the great efforts made by the Ambassador and the embassy staff in this framework, pointing to the importance of strengthening coordination between the two countries in light of the current regional developments.
In the same context, Fouad Hussein stressed the need to simplify consular services provided to the Iraqi community in the United States, stressing the importance of improving their quality.
For his part, Ambassador Nizar Al-Khairallah expressed his appreciation for this visit, describing it as “a supportive step for diplomatic work that comes in light of the great circumstances and challenges facing the region.” /End https://ninanews.com/Website/News/Details?key=1223643
In Cooperation With The United Nations Development Programme, The Ministry Of Planning Discusses Updating The Private Sector Strategy (2014-2030)
Monday, April 28, 2025 17:46 | Economic Number of reads: 143 Baghdad/ NINA / The Ministry of Planning, in cooperation with the United Nations Development Program, held a workshop on Monday to update the private sector strategy (2014-2030).
Sabah Jundi Mansour, Director General of the Economic and Financial Policies Department, chaired the workshop. He explained that the private sector is a fundamental pillar for achieving sustainable economic development, as it represents an effective partner in building a diversified and strong national economy.
He affirmed the committee’s commitment to strengthening the role of this sector by developing a clear and integrated vision that responds to current challenges and invests in future opportunities.
He pointed out that this workshop represents an important step in a long path that requires concerted efforts and active participation from all parties, including the government, the private sector, civil society, and international partners. He pointed out that the success of updating this strategy depends on transparent dialogue, creative ideas, and a shared vision aimed at creating a stimulating economic environment that generates job opportunities and enhances innovation and investment.
He emphasized the government’s endeavor to support the private sector to be a major driver of growth and economic development in the long term. https://ninanews.com/Website/News/Details?key=1223611
Al-Atwani: Oil Price Fluctuations Require Us To Seek Alternative Sources Of Revenue.
Money and Business Economy News – Baghdad Parliamentary Finance Committee Chairman Atwan al-Atwani stressed on Monday that fluctuating oil prices and their impact on the budget require us to seek alternative and sustainable sources of revenue.
A committee statement, seen by Al-Eqtisad News, stated that “the Parliamentary Finance Committee, headed by Atwan Al-Atwani, held an expanded two-day workshop to discuss ways to maximize revenues, in cooperation with the International Partners Foundation, with the participation of experts, consultants, university professors, and relevant official bodies.”
The statement added, “The workshop focused on discussing the proposed amendments to the Federal Revenue Control Authority Law, where many opinions and proposals were put forward that revolved around the need to activate the work of the Authority, and to strengthen and activate…
And to activate its powers, particularly with regard to the process of assessing state revenues and the means of collecting them, with the aim of preserving public funds and promoting sustainable development.
Al-Atwani noted that “the workshop is at the heart of our efforts to enhance the country’s financial sustainability and represents a real opportunity to come up with practical, applicable recommendations that contribute to achieving our shared goals.
” He added that “our fruitful cooperation with the International Partners Foundation represents a valuable addition to our efforts, and we appreciate their support and expertise in this vital field.”
He noted that “exchanging expertise and knowledge with leading international institutions will undoubtedly contribute to enriching discussions and providing innovative solutions.”
Al-Atwani stressed, according to the statement, that “the fluctuations in oil prices and their impact on the budget require us to seek alternative and sustainable sources of revenue.”
He noted that “the path to a sustainable economy may be fraught with challenges, but it is also rich with opportunities,” stressing that “the Parliamentary Finance Committee looks forward to this workshop being a true starting point toward building a more stable and prosperous economic future.”
He continued, “Our economy’s decades-long dependence on oil revenues has made the country’s financial situation fragile and weakened our ability to achieve sustainable development goals. This requires serious work to overcome this ‘single dependence’.” He emphasized that “economic diversification is no longer a complementary option, but rather an urgent necessity and a strategic imperative for building a multifaceted economy based on diverse productive and service sectors capable of generating wealth and creating added value.
” He noted at the same time that it is “the best way to protect our economy against external shocks, expand the base of economic growth, and provide sustainable opportunities for our future generations.”
He pointed out that “the ongoing fluctuations in oil prices and their impact on the state’s general budget require us to seek alternative and sustainable sources of revenue that will contribute to financing development projects and improving services.”https://economy-news.net/content.php?id=54923
Al-Sudani Stresses The Importance Of The Project Financing Initiative And Its Effective Impact On The Growth Of The Industrial Sector
Banks Economy News – Baghdad Prime Minister Mohammed Shia al-Sudani stressed on Monday the importance of the project financing initiative and its effective impact on the growth of the country’s industrial sector. He noted that launching initiatives must be credible, with the necessary infrastructure in place.
The Prime Minister’s Media Office stated in a statement, seen by Al-Eqtisad News, that “Prime Minister Mohammed Shia Al-Sudani chaired a meeting to follow up on the implementation of the Industrial Projects Financing Initiative and the reasons for the delay in implementing Cabinet Resolution No. 24930 of 2024.”
The statement added that “the meeting witnessed a detailed discussion of the initiative’s overall dimensions and its beneficiaries, and effective solutions were reached to ensure the sustainability of project support, including providing the necessary funding to launch project lending through the Industrial Bank and inviting industrialists to start promoting their completed projects.”
According to the statement, the Prime Minister stressed “the importance of the project financing initiative and its effective impact on the growth of the industrial sector in the country,” noting that “launching initiatives must be credible by providing the necessary structures for them in terms of regulation, financing, and implementation, and that failure to implement the initiatives will affect the development process.”
The Prime Minister stressed “the government’s support for the private industrial sector and giving it priority in attention, support, and facilitating procedures and financing, which constitutes a foundation for advancing economic development, providing job opportunities for youth, and achieving self-sufficiency in a number of strategic industries.”https://economy-news.net/content.php?id=54920
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