Bondlady’s Corner – Iraq Economic News and Points to Ponder Thursday Evening 11-16-23


Iraq Economic News and Points to Ponder Thursday Evening 11-16-23

Tlm724 Administrator Bondlady’s Corner

Launching The Electronic Deposit System For Fuel Filling Station Owners

 Economy| 10:20 – 11/16/2023  Baghdad – Mawazine News  Al-Rafidain Bank announced, today, Thursday, the launch of the system of depositing amounts for owners of fuel filling stations via electronic card.  The bank’s media said, in a statement, that “a system for depositing amounts for fuel filling station owners via electronic cards has been launched.”

Parliamentary Finance For / Nina /: These Are The Results Of The Meeting With Government Bank Officials

 Thursday 16, November 2023 18:45 | Economical     Number of readings: 471 Baghdad / NINA / The Parliamentary Finance Committee revealed the results of the joint meeting with officials and directors of the five government banks, “Al-Rafidain, Al-Rashid, Agricultural, Industrial, and Real Estate.”

 The head of the committee, MP Atwan Al-Atwani, said in a statement to the National Iraqi News Agency ( NINA ), that

 “the joint meeting with government bank departments is related to a set of activities to advance their work and match them with the government program, given that supporting and enabling the work of the banking sector is a pivotal focus for the government.” 

He explained,  “The main pillar of the meeting is related to the transition from the paper system to the electronic system within a specific time frame to frame this, as

 we found some banks achieved certain completion rates through contracting with specialized companies, and there are other banks that are still under contract.” 

He added,  “We discussed the files of the industrial initiative, the agricultural initiative, and the housing initiative, which are strategic initiatives that support the banks and sectors concerned, because the government is responsible for employment in the country, and

 there is a necessity to support these initiatives to create and provide projects and job opportunities,” indicating that  “the Finance Committee stressed to government banks the necessity of commitment.”

 “Yesterday, Wednesday, the Parliamentary Finance Committee held a joint meeting with the directors of the government banks, Al-Rafidain, Al-Rasheed, Industrial, Agricultural, and Real Estate,” to discuss the banks’ procedures for managing the currency platform and the shift to automation. Digital, and facilitating tax procedures.

The European Bank “EBRD” Welcomes Iraq’s Membership

Thursday, November 16, 2023 4:15 PM  Follow-up/National News Center  The European Bank for Reconstruction and Development (EBRD) announced that Iraq had joined it, becoming the 74th country contributing to the bank after Baghdad had applied for membership in April 2018.

The European Bank stated in a report on its website, “Iraq has become the newest member of the bank, after the Board of Governors approved its membership in October 2020, while the process of transitioning to shareholder status in the bank has now ended.”

The bank explained that “Iraq, as a shareholder, can apply to become a recipient economy category, and can thus benefit from the financial and political support provided by the European Bank for Reconstruction and Development,” noting that this application will be reviewed by the shareholders in a separate process.

 The report stated that during the bank’s annual meeting this year in the city of Samarkand, the Board of Governors agreed to amend the agreement establishing the bank to allow the expansion of the bank’s operations in Iraq, adding that once the amendment enters into force, the bank will be in a position to follow up on any request from Iraq to become an active country. The bank is in it.

 The report pointed out that the decision of the Board of Governors in Samarkand also means integrating Iraq into the bank’s southern and eastern Mediterranean region, with which Iraq has strong economic relations.

 The report quoted the bank’s president, Odile Renaud Basso, as saying, “I am pleased to welcome Iraq as a member of the bank, and we are fully committed to dealing with the country, and when the time comes, we look forward to starting work in Iraq, and applying our expertise in order to develop its economy.”

The bank’s report pointed out that its activity in the southern and eastern Mediterranean region began for the first time in 2012, specifically in Egypt, Jordan, Morocco, and Tunisia, and then in 2017, its activities extended to Lebanon, the West Bank, and the Gaza Strip in Palestine.

 The report concluded by noting that the European Bank provides support to countries undergoing transitional stages, through a combination of investment, advisory role and policy reform, in addition to the Bank’s focus on developing the private sector and achieving sustainable change for a better future.

He added that the bank is currently focusing its efforts on supporting Ukraine, and helping the economies of member states transform into a more environmentally friendly, digital and inclusive manner.


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 Provoking Points to Ponder on FEAR for Living the Bold Life by Tess Marshall

64. Surely if we knew what bitterness fate held in store, we would shrink back in fear and let the cup of life pass us by untasted. ~ Jacqueline Carey

65. I don’t run away from a challenge because I am afraid. Instead, I run towards it because the only way to escape fear is to trample it beneath your foot. ~ Nadia Comaneci

66. Of all the liars in the world, sometimes the worst are our own fears. ~ Rudyard Kipling

67. Mastering others is strength. Mastering oneself makes you fearless. ~ Lao Tzu

68. When we are unhurried and wise, we perceive that only great and worthy things have any permanent and absolute existence, that petty fears and petty pleasures are but the shadow of the reality. ~ Henry David Thoreau

69. When you teach them-teach them not to fear. Fear is good in small amounts, but when it is a constant, pounding companion, it cuts away at who you are and makes it hard to do what you know is right. ~ Christopher Paolini

70. We are so scared of being judged that we look for every excuse to procrastinate. ~ Erica Jong