Legal Expert: The Central Bank Is Following A Wise Policy In Diversifying Its Investments.
Time: 2025/09/22 Reading: 855 times Legal expert: The Central Bank is following a wise policy in diversifying its investments.
{Economic: Al Furat News} Legal expert Salah Nouri confirmed on Monday that the Central Bank of Iraq is adopting a wise policy to diversify its investments, balancing investments in gold and US bonds to bolster its financial reserves.
Nouri told Al Furat News Agency, “Central banks around the world,including the Central Bank of Iraq, are pursuing a diversification strategy to avoid risks and achieve the best returns in the long term.”
He added, “Investing in US bonds is a key option for achieving stable, periodic returns, but it is affected by the decisions of the US Federal Reserve, as investment in them tends to decline when interest rates are lowered.
” The legal expert continued, “Central banks compensate for this shortfall by turning to gold, which is considered a safe haven during times of economic crisis.”
He explained that “gold does not provide fixed annual returns like bonds. Rather, its profits depend on the difference between the buying and selling prices, making it a strategic investment for preserving asset value.”
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The Path To Development}…A Step Towards Creating Job Opportunities And Encouraging Investment
Baghdad: The Pillar Of The Emirate
The Development Road project, whose Quadripartite Council summit was recently held in Baghdad, highlights a major strategic attempt to restore Iraq’s standing in global trade.
Experts see the Grand Faw Port as the starting point for the “Development Road,” which will connect the East and West of the world via Iraq and Turkey.
The government is counting on the two major projects, the development road and the Faw Port, to transcend its traditional maritime geography and reposition Iraq economically within the region surrounding Iraq and the world, and to take its rightful place among the world’s most important economies.
Minister of Transport Razzaq Muhaibis Al-Saadawi recently chaired the Quadripartite Summit to discuss steps to initiate the “development path,” in preparation for holding a ministerial meeting before the end of the current year, with the attendance of the transport ministers of the member states (Turkey, Qatar, and the UAE), along with Iraq.
Developmental Impacts
The Prime Minister’s Financial Advisor, Dr. Mazhar Mohammed Salih, believes that “the port, if completed, will be one of the largest infrastructure projects in Iraq’s modern economic history, and the most ambitious in terms of its developmental and geopolitical impact.”
He explained that it is more than just a seaport, and represents an attempt to reshape Iraq’s geographical position at the heart of global trade, via what is known as the dry corridor linking Asia to Europe via Iraq and Turkey, reducing time and costs compared to traditional sea routes.
Commercial Sidewalks
Saleh added, in an interview with Al-Sabah, that the vision behind the project seeks to transform Iraq from a rentier state dependent on oil exports into a pivotal logistics state that plays an active role in the movement of goods, services and energy, linking the economies of the north and the south.
He pointed out that if the Faw Port project is completed in all its components, including the deep commercial docks, industrial and commercial zones, as well as the railway link to the north towards Turkey and Europe,
in addition to the parallel land and service transport networks, it will be able to accelerate the diversification of GDP sources in Iraq, create tens of thousands of direct job opportunities, encourage local and foreign investments, and stimulate the establishment of parallel industrial, service, logistics and digital sectors.
Initiative State
The government advisor pointed out that the port will contribute to reducing Iraq’s sole dependence on oil and will propel it towards a more balanced, diversified and productive economy. He emphasized that it is a strategic project, embodying at its core the foundation of the transition from a rentier economy to a multi-resource economy, and from a state awaiting revenues to a proactive state that creates opportunities. This is in line with the government’s program, which is based on the mindset of a sustainable developmental and economic state and the economic reform system that embraces it.
Saleh stressed that the major maritime project, if completed, along with the development road project, will make Faw Port Iraq’s gateway to a more diversified, productive, and stable economic future, and that it will be a lever for Iraq’s drive toward a more diversified, productive, and stable economic future.
Qualitative Transformation
The speaker also explained that the development road strategy, which is integrated with the infrastructure of the Grand Faw Port, represents a qualitative shift in modern Iraqi economic thinking.
The country is no longer dependent on oil revenues as its sole resource, but has begun to see the signs of transforming it into a strategic corridor state based on regional integration, advanced infrastructure, and cross-border services. He explained that the development road is a railway project extending from the Grand Faw Port on the Arabian Gulf, passing through thirteen Iraqi governorates, all the way to the Turkish border, where it connects to the European railway network.
Economic Geography
He explained that the project constitutes the backbone of what we might call Iraq’s new strategic economy, based on transforming the country from a geographical corridor into an international logistical and trade hub. What we can conclude from the Faw Port Strategy and the Development Road is the summary of Iraq’s economic progress, in a world witnessing sharp shifts in economic geography and recurring crises in supply chains.
The Development Road Project in particular stands out as one of the most promising projects for repositioning Iraq as a global logistical hub linking the continents of Asia and Europe.
Features Of A Strong State
He stated that the project represents a qualitative shift in Iraqi economic thinking, not a retreat towards development and prosperity.
It is no longer based on oil revenues as a sole, highly volatile resource. Rather, it has begun to reveal the features of a strong state, transforming into a strategic corridor based on regional integration, advanced infrastructure, and cross-border services. In the rapidly evolving economic world of the 21st century, Iraq stands tall, building a future for its generations.
Diversifying The Economy
For his part, researcher and academic Dr. Abdul Karim Al-Issawi said: “Iraq seeks to diversify its economy, which relies on oil exports for no less than 95 percent, by activating the service-oriented production sectors, including the transportation sector, foremost among which is the completion of the Grand Faw Port project, which is the foundation of the development path that will link the countries of West Asia with the European continent via Turkey.
This will be achieved by building roads and railways suitable for the expected transport of goods and energy sources, including crude oil, thus ensuring global supply chains for reverse transport between Europe and Asia.”
Job Opportunities
Al-Issawi explained to Al-Sabah that the desired development road will work to create a group of backward and forward links in the areas located on both sides of the road in the Iraqi governorates, foremost of which is creating job opportunities for workers and most notably strengthening economic and financial relations between Iraq and the countries that deal with this road.
He indicated that on the international level, the development road will work to create other outlets for international trade in addition to the Suez Canal and the global trade route India-United Arab Emirates-Mediterranean.
Business Partner
He added that competition will be based on lower costs and shorter distances and times to connect global markets. He noted that Turkey, a major trading partner for Asian and European countries in both exports and imports, views the development road project with great importance and is working to ensure its success by all means possible.
For his part, economic expert Dr. Adnan Bahiya described the Grand Faw Port as a future pillar of the Iraqi economy. It is a new pillar for Iraqi global maritime trade, and the project’s completion will open up new horizons for 99 docks capable of accommodating large vessels.
The Future Of The Country
In an interview with Al-Sabah, Bahiya pointed out that the Grand Faw Project and the development road represent the country’s future in increasing and diversifying its financial revenues. The development road will contain development centers in each governorate it passes through.
These centers will consist of exhibitions, factories, export markets, and local industries, which are available in that governorate, as well as importing its own needs from abroad or from other governorates, and manufacturing a wide range of equipment and food crops, which increases the development prospects in each governorate.
He explained that the development road consists of a highway outside the governorates it passes through and railways going and coming, which facilitates commercial land transport and expands it to a new modern horizon.
Both the Faw project and the development road will provide for the construction of the commercial airport planned to be built in the Faw area, electricity generation and water desalination plants, a refinery for the production of petroleum derivatives, a residential city, and a new industrial city. These projects will actually transform Basra into the level of the economic capital of Iraq.
International Cooperation
For his part, international expert Nazir Al-Saadi emphasized that Iraq’s internationally important geographic location has not been fully exploited.
The development road, supported by the Faw Port, serves to position Iraq as a gateway to genuine international cooperation.
Al-Saadi stated that the implementation of the development road project undoubtedly represents a qualitative shift in the reality of the Iraqi and global economy, as it works to transform Iraq into a hive of organized activity across all sectors without exception, a goal sought by specialized international companies.
Business Trip
He said: “This project will work to revive all sectors without exception, in cooperation with the international effort that will be directed towards Iraq and the beginning of a new business journey centered on Iraqi territory. Here, we must work to organize the business environment in a way that attracts international companies and achieves the highest levels of economic feasibility for the country.” https://alsabaah.iq/120863-.html
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