Iraq Economic News and Points to Ponder Tuesday AM 1-28-25
After Fidan's Visit To Iraq, A Deputy Reveals The Fate Of The "Road Of Development" Project
January 27, 2025 Baghdad/ Iraq Observer Parliament member Amang Herki revealed the fate of the development road project after the visit of Turkish Foreign Minister Hakan Fidan to Baghdad.
"It is impossible to implement this project currently in light of the regional conditions experienced by Iraq and the region, especially the security conditions from them."
He added, "There are many topics in the region, and the discussions that took place between the Turkish Foreign Minister in Baghdad were one of the partial topics that were discussed with the Iraqi side, where there are other topics that were discussed from the situation in Syria," noting that
"the meeting was It has a security character more than an economic nature.”
Global Economy and Trump
A member of the House of Representatives stressed that
"the global economic policy witnessed a major change in the region, especially during the
inauguration of US President Donald Trump, in addition to
this reflection on the Middle East, the
Syrian situation and the
Turkish move in the region," noting that
"it is difficult to predict the possibility of directing the project of development in the shadow All these current circumstances.”
Earlier, the Minister of Transport, Razzaq Muhaibis Al -Saadawi, confirmed that the
middle of this year will witness the announcement of the first passage of the development road project, indicating that the
completion rates in the project are very advanced, where the
economic feasibility has been completed by 100%, and the
initial designs of the railway, the highway and approval were completed Its 100%, and the
completion of soil tests for a distance of 1,000 km out of 1,200 km, as well as
approving the final path of the project, and
starting to prepare detailed designs.
Advanced achievement rates
The minister explained that
“Prime Minister Mohamed Shawaa Al -Sudani stressed the
need to adhere to the specified time timing and
not to allow any delay or delay in implementing the project.
The Minister indicated the role of consulting companies:
“The Italian company BTP will be responsible for the initial and detailed designs, economic feasibility, and soil examinations, while
the German company Oliver and Ayman will be charged with preparing the financial and economic model, project governance, and marketing.”
The Turkish Foreign Minister, Hakan Fidan, arrived in the capital, Baghdad, to hold talks with Iraqi officials.
The Turkish minister discussed economic, security and regional files, most notably the lines of
accelerating the implementation of the project of development and the
participation of Turkish companies in this project, in addition to
raising the volume of trade exchange between the two countries and the file of the
Kurdistan Workers' Party and the developments of the
situation in Syria and the region. https://observeriraq.net/بعد-زيارة-فيدان-الى-العراق-نائب-يكشف-م/
Introduction
January 27, 2025 An introductory overview of the Directorate
The Directorate of Control of Non-Banking Financial Institutions in the Central Bank of Iraq shall be responsible for licensing, supervising and controlling non-bank financial institutions,
with the aim of
protecting the financial system from potential risks and
enhancing confidence in the non -banking financial sector.
It also seeks to ensure the provision of safe and effective financial services to citizens,
in addition to ensuring that these institutions comply with laws and instructions in accordance with international standards in the field of compliance, which contributes to promoting financial stability. https://cbi.iq/news/view/2779
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