KTFA – Frank26: ” News and Views” Sunday 4-7-2024



 Iraq ranks high on the list of “most influential” countries in the world


Iraq ranked high on the list of “most influential” countries in the world for the year 2024, an index that measures 11 details that include military power, international alliances, trade, culture, diplomatic influence, and others.

Iraq ranked 49th globally out of 194 countries, while it ranked fourth in the Arab world after Saudi Arabia, which ranked ninth globally, then the Emirates and Egypt, and then Iraq, whose global score reached 83 out of 100.

In first place in the world, the United States of America came in the world for the year 2024, with a number of points reaching 95.3 out of 100, and then China came with a number of points reaching 95 points out of 100.

The index includes the perceptions of more than 320,000 experts, such as politicians and business leaders, and countries are ranked based on the highest scores among 11 characteristics: military strength, strong international alliances, highly respected state leadership, international trade and travel, and power. Economic, country culture, diplomatic influence, global diaspora, media influence, being beneficial to other countries in need, and how connected those countries are to the rest of the world, according to SeaWorld.   LINK


A new position from the World Bank regarding the Grand Port of Al-Faw

 4/6/2024   Baghdad

The World Bank expected, today, Saturday, that Iraq will enter the global trade route once the large Al-Faw port is operational.

Ibrahim Dajani, Director of the World Bank’s Transport Sector in the Middle East and North Africa region, wrote during his visit to Al-Faw Port, “Once Al-Faw Port is occupied, Iraq will be placed on the path of global trade between the East and Europe, which will provide opportunities for investment in logistical centers and industrial and commercial activities, as it will provide job opportunities.” For young women and men.”

He added, “I am happy with the Iraqi government’s decision to enter into a partnership with the World Bank to achieve this important endeavor.”

The large port of Al-Faw is located on the Al-Faw Peninsula, south of Basra Governorate. The cost of the project is about 5 billion dollars, with a total area of ​​54 square kilometers. The capacity of the planned port is estimated at 99 million tons annually, to be one of the largest ports overlooking the Gulf and the tenth largest in the world.

Iraq has completed the construction of more than 60% of an undersea tunnel linking the coastal region to international trade links through what is known as the development road with Turkey.

By the year 2038, Iraq is expected to earn $4 billion from the new port activity, to which indirect revenues will be added, such as transit services through the development road extending to Turkey and Europe, which competes with several global trade lines, thanks to the reduction in time.   LINK



Install 1,000 ATMs in cities in the Kurdistan Region by the end of 2024


The process of registering employees in the Kurdistan Region continues with the “Hasbi” project, which is a digital financial payment system. Employee registration has reached 260,000 people, and 153,000 cards have been issued to those registered.

The regional government said in a statement today, Friday, that by the end of 2024, about 1,000 ATMs will be installed in all governorates, districts and regions of Kurdistan, so that employees can easily receive their salaries.

According to the statement, the number of banks participating in the project is constantly increasing, and so far they are (BBAC – NBI – RT – Cihan – IIB), all of which have been recognized and accredited by the Central Bank of Iraq.

Since last year, as a pilot, Erbil Maternity Hospital employees have received their salaries through the “My Account” banking system.

At the end of last year, the faculties of arts, agriculture, and science at Saladin University received their salaries through the same system.   LINK


 Iraq and Saudi Arabia sign 12 memorandums of understanding for specific investment projects


Iraq and the Kingdom of Saudi Arabia signed memorandums of understanding with 12 Saudi companies with the aim of enhancing cooperation in a number of specific investment projects.

 A statement from the ministry, a copy of which {Al-Furat News} received, said, “The memorandums of understanding signed with 12 Saudi companies came with the Iraq Fund for Development, with the aim of enhancing cooperation in a number of qualitative investment projects in Iraq.”

Last December, Saudi Arabia signed a partnership agreement with Iraq in the field of industrial investments for the private sector, as part of the two countries’ efforts to strengthen their bilateral relations and attract foreign investments.   LINK


Frank26:  “GIVE BACK 8.5% ON A 4 YEAR BOND NOTE ON A PROGRAM RATE OF 1320… NO WAY!!!”……..F26

 “A good investment”… What is the goal of the Iraqi Central Bank in issuing financial bonds with high annual interest?

 4/6/2024 – Baghdad

With inflation rates in Iraq currently reaching 5.5%, and expectations that it will reach 6% by the end of the year, the Central Bank announced the launch of financial bonds with the highest annual interest, at 8.5%, as well as for deposits in the private banking sector.

According to economic expert Manar Al-Obaidi, in a post on his page on the Facebook platform, the aim of these bonds is to attract and encourage capital outside the banking system through high interest rates to enter the banking sector, adding that the annual interest rate announced by the Central Bank is encouraging to the investor and depositors, due to its high content. , which is considered a good return on investment compared to its lack of risk.

Al-Obaidi stressed that these bonds are guaranteed by sovereign guarantees of a country that currently has sufficient money reserves, and therefore the risk rate of these bonds is zero and non-existent, and they are purchased through the Iraq Stock Exchange and through market intermediaries.

Al-Obeidi encouraged buying these bonds and selling them in the future at a higher price, meaning that the investment should not only be in the deposit interest but also in the price of the bond itself.

In his publication, Al-Obaidi touched on “depositing money in the private banking sector,” explaining that there are 4 to 5 private banks that own the largest share of the market and their financial data, and are considered very excellent and achieve great control in the Iraqi market. The decision to choose the bank to place deposits depends on the annual interest rate and method. Benefiting from the interest, how to break the deposit, as well as the financial statements of the bank and the extent of its presence and spread in Iraq.

Al-Obaidi concluded his post by “emphasizing that the success of investment depends on two factors: the first is the amount of profit, and the second is the amount of risk, and only the owner of the money can decide the amount of risk to be taken in exchange for the profit rate,” stressing that investing in bonds and deposits is a good solution for those who do not He wants to intervene in the field of investment and its challenges.”   LINK



 In the presence of Nechirvan Barzani and Al-Sudani… the start of the state administration coalition meeting


The State Administration Coalition held an extraordinary meeting this evening, Saturday, in the presence of the President of the Kurdistan Region, Nechirvan Barzani.

And earlier; The President of the Kurdistan Region, Nechirvan Barzani, confirmed that an initial agreement had been reached on the oil file, which is one of the most prominent outstanding problems between Baghdad and the region.

Barzani, who is visiting Baghdad, said in an interview with reporters after his meeting with Prime Minister Muhammad Shiaa Al-Sudani: “We thank the Prime Minister for his efforts to solve the problems between Baghdad and Kurdistan, and in the same way his efforts to solve the rest of the problems in Iraq, and we note that since he took office until today, he has been working on Serving Iraq as a whole, including the Kurdistan Region.  LINK