Wed. AM TNT News Articles 4-28-21



Brent is expected to rise to $ 80 a barrel over the next six months

On Wednesday, the commodity research team at Goldman Sachs Bank (NYSE: GS) expected Brent price to rise to $ 80 a barrel over the next 6 months, with the reversal of restrictions related to the Coronavirus, lower interest rates and a weak dollar .

The bank said, “It is expected that the price of Brent crude will rise to $ 80 a barrel and US West Texas Intermediate crude to $ 77 during the next six months .”

The bank added, “We expect the largest jump in demand for oil at all, an increase of 5.2 million barrels per day over the next six months,” referring to the acceleration of vaccinations in Europe and the liberalization of latent demand for travel .

“The easing of international travel restrictions in May will lead to a recovery in demand for jet fuel by 1.5 million barrels per day, ” he said.

The bank expects that “gold prices will recover at two thousand dollars an ounce over the next six months, and it is too early to compete with the formation of the yellow metal in demand for a safe haven,” adding that “the two can exist together.   link

A press release issued by: the Secretariat of the Board of Governors of Central Banks and Arab Monetary Institutions


Press release issued by:

Secretariat of the Board of Governors of Central Banks and Arab Monetary Institutions

Arab Financial Inclusion Day – 27 April 2021

Under the slogan: “The Role of Digital Transformation in Promoting Financial Inclusion”

Emphasis on strengthening and accelerating the transition to digital financial services and the importance of raising awareness about them

Call to: Coordination with G20 priorities

Promote digital financial inclusion for youth, women, and micro, small and medium enterprises


Encouraging the employment of modern financial technologies to enhance financial inclusion

Give priority to applications and issues related to financial technology

The importance of building a strategy to move to a digital banking system to enhance financial inclusion

Spreading digital financial literacy among all segments of society

The issue of enhancing access to finance and financial services in the Arab countries is receiving great attention from the Council

Governors of central banks and Arab monetary institutions, aware of the potential and significant opportunities that can be achieved from

By enhancing financial inclusion to support comprehensive and sustainable economic development, face the challenges of unemployment, and achieve justice

Social. There is no doubt that the current developments and the negative repercussions of the spread of the Coronavirus have clearly highlighted the importance

The great importance of employing modern technologies for the purposes of financial inclusion, and the need to enhance digital financial services and awareness

Its users. The pandemic has boosted demand for digital financial services, and made the need to accelerate digital transformation


Of great importance in economic policies in the Arab region.

Better digital financial services matter

The available statistics highlight the great opportunities inherent in the development of digital services, as nearly 85 percent of Adults in the Arab region have a mobile phone, and 48 percent have a mobile phone and at the same time they can access it To the online network, 7 percent have mobile money accounts, and about 33 percent have sent or They received digital payments the previous year, compared to about 44 percent globally.

In this context, the Board of Governors of Central Banks and Arab Monetary Institutions took the initiative in 2016, in light of the need

The increasing awareness of the importance of financial inclusion and its axes among all parties in the Arab countries, until the adoption of 27 April

(April) every year as an Arab Day for Financial Inclusion, celebrated this year under the slogan “The Role of Digital Transformation in Promoting Inclusion.”

Financial. ”It is important on this occasion to emphasize the support of the efforts of the international community in promoting financial inclusion, foremost among which are efforts

The Group of Twenty (G20), which adopted the axis of financial inclusion as one of the main axes to support and promote sustainable development goals

Focusing on supporting youth and women’s access, and micro-enterprises, in particular, financial stability, as the G20 takes over

And small and medium-sized organizations, to digital financial services through the use of modern technologies, as well as attention to awareness-raising


And digital community education that enhances the chances of success of efforts and policies in this regard.

The esteemed Council is keen to give the issues of financial inclusion in the Arab countries the importance they deserve, as the Council blessed them

The Arab Monetary Fund, in cooperation with a number of regional and international institutions, launched the regional initiative to strengthen the Financial inclusion in the Arab region, with the aim of empowering and enhancing capabilities and capabilities to overcome obstacles to advancement Indicators of financial inclusion in the Arab countries. In this context, the Council appreciates the activities contained in the initiative that focus on:

Digital financial transformation. The Council calls on institutions partnering in the initiative to pay more attention to support employment

Modern technologies in enhancing the access of youth, women, and micro, small and medium enterprises to services

Finance, it welcomes the initiative’s indicative document for digital financial transformation in the Arab region

September 2020, as a roadmap to help develop policies and action plans for the creation of inclusive financial technologies

And safe. The document is anchored on a number of primary goals, of enhancing access and expanding use

And quality. The document discusses the various frameworks to support the transition to digital finance, including regulatory laboratories for technologies

Modern finance, consumer protection and financial education, financial and technical infrastructure, competition, data and security


Cyber, surveillance and collaboration. In this regard, it is necessary to mention the steps and measures taken by the Arab countries

Digital ones. Arab countries can also work on development and integration

Especially for the sake of advancing financial culture

Country action plans that contribute to the digital transformation of financial systems and support economic development to achieve sustainable growth

And poverty alleviation.

The Council also reaffirms the need to integrate all groups and segments of society into the formal financial system, especially among them Youth, women, entrepreneurs and the MSME sector, to take advantage of technologies And follow-up efforts to raise awareness of all these groups, protect their financial rights, and improve their knowledge of financial matters

Digital, enabling them to make sound decisions. In this context, the ministries of education, culture and education can participate in the meeting

Higher education institutions in the Arab countries should contribute to strengthening efforts represented in spreading and deepening digital financial education and education.

In the context of the increasing importance that the uses of modern financial technologies are gaining in the financial and banking sector

The great and rapid growth witnessed by the industry of these technologies and their related services in the world, the Council noted


The role of the regional working group for modern financial technologies launched by the Arab Monetary Fund in exchanging experiences and knowledge

On the issues of modern financial technologies and crystallizing different visions to revitalize and organize them in the Arab countries. in this context,

It is worth noting that, during the year 2020, the Fund issued a number of guiding principles and guidelines that enhance Edraak

The indicative document about the digital ID and Know Your Customer online

Digital transformation requirements, specifically, and constructive principles

National strategies for modern financial technologies, in addition to the recently issued document on open banking operations.

Arab countries can adopt the guidelines contained in these guides within the framework of the needs and procedures of each country.

The Council also appreciates the increasing interest in the topics of modern financial technologies in the programs of activities of the Regional Working Group

To enhance financial inclusion in the Arab countries, and its role through developing policies and procedures related to the promotion of financial support

Financial inclusion, studying ways to improve financial inclusion indicators, and working to help Arab countries to achieve


Applying relevant international standards and principles, and enhancing cooperation between the various concerned national institutions and bodies

Issues of financial inclusion and between it and the relevant international institutions. On the other hand, the Council looks forward to continuing

Improving financial inclusion indicators, as recent statistics reflect the efforts made by Arab countries in promoting financial inclusion

Access to financial services, indicating that the percentage of adults in the Arab countries who have access to financial services

For formal financial and financing services, they rose to an average of 37 percent, and 26 percent for women, And 28 percent for low-income groups. Although these figures conceal a discrepancy in this regard between:

Arab countries, however, are still highlighting the great potential opportunities – especially for private financial and banking institutions – that are

They can be used to enhance access to financial services in Arab societies. In this context, efforts should be noted

Arab countries that have applied the comprehensive model for statistical surveys, and emphasize the importance of following up on their implementation from the rest

Improving the quality of financial inclusion indicators according to the conditions of each country. Countries, to help

Before concluding, within the framework of the efforts made by the central banks, Arab monetary institutions and commercial banks


And official financial institutions in the past years, to mark the Arab Day for Financial Inclusion and to organize them distinctively

For activities and events on this day, which contributed to spreading awareness and financial education among all members of society,

The Council calls on all member states to promote the revival of the activities of the Arab Day for Financial Inclusion and to expand the scope of participation In this regard, by implementing events and activities that enhance knowledge of financial inclusion and its goals.

On this occasion, His Excellency the Director General, Chairman of the Board of Directors of the Arab Monetary Fund, Dr. Abdul Rahman bin Abdullah Al-Hamidi stressed the importance and role of financial inclusion in facing economic challenges that affect growth

His Excellency praised the Economist, by mobilizing resources to increase investment rates and create new job opportunities

The increasing attention that policy makers are receiving on issues related to enhancing financial inclusion In the Arab countries, this would help to face the challenges of poverty and unemployment and to establish justiceSocial. His Excellency also praised the efforts of the central banks and Arab monetary institutions, in terms of keenness onContinuing to address issues of improving financial inclusion and access to affordable, quality financial services,

Giving it the appropriate importance and priority within the framework of the economic policies taken, and spreading the culture of responsible financing

In banking, making use of modern financial technologies in providing financial services, and developing legislation

The regulatory systems and frameworks that help improve the spread of financial and banking services and encourage innovation in the sector

This field, in addition to following up efforts to upgrade and encourage sound infrastructure systems for the financial and banking system

The development and expansion of non-bank financial services, in addition to the development of policies and programs that enhance transparency in Financial and banking transactions.

He also praised the “Bani” platform for Arab payments, which was recently completed by the Arab Monetary Fund, and its role.

In providing innovative services in accordance with international standards and the latest practices and technologies, the role of the platform in encouraging

Looking forward Developing digital financial services in the Arab region and linking Arab countries with commercial partners.  link

The director of the “CIA” visits Baghdad “secretly” and is considered an Iraqi minister to the position of President of the Republic

A report by the American website (1945) revealed, on Tuesday, that the Director of the Central Intelligence Agency, William Burns, had secretly visited the capital, Baghdad, during the past few days, according to multiple Iraqi sources there, without being announced.

“Burns did not hold any talks at the US embassy in Baghdad or in any Iraqi government building, but in a special place, which is the home of the Iraqi Foreign Minister, Fuad Hussein,” the report, translated by the agency, stated.

He added, “Although Baghdad is considered a logical location for such alleged negotiations, it is fair for Congress to ask who Burns met, his goal, and what Biden or Sullivan authorized to provide, and it is also important to consider the price of such a meeting for the Iraqi official. “.

And he continued, “Fuad Hussein had lost the presidency of Iraq to the current Iraqi president, Barham Salih, despite the attempt by Trump’s special envoy to the Middle East, Brett McGurk, to hand over the position to Fouad Hussein.”

And he continued, “By helping to play the mediating role in the alleged secret talks between the United States and Iran, Fuad Hussein may expect a reward that includes renewing American support for his presidency of Iraq again, and this will be a heavy price that must be paid already because the source of Fouad Hussein’s political legitimacy is mainly that he was Cooperating with Massoud Barzani, while Barham Salih has proven that he is more capable and more supportive of the West.

“There is not a single meeting or even a series of meetings that deserves to sacrifice Iraq ‘s long-term stability or to promise to lead it to a man who is not qualified to obtain it,” the report said. According to the report.

The American website pointed out that the White House avoided answering questions about the fact that the Director of the Secret Central Intelligence visited Baghdad, and in response to a question about whether William Burns, Director of the CIA, had traveled to Baghdad in recent days, indicating that the White House Press Secretary Jane Psaki She did not confirm or deny the meeting.   link

The General Secretariat of the Council of Ministers announces its readiness to start building 7,000 schools throughout Iraq

Economy News – Baghdad

The General Secretariat of the Council of Ministers announced, on Wednesday, that Iraq is ready to start the first phase of the national project for building schools, indicating that it is awaiting bids and offers for building these schools from Chinese companies.

A spokesman for the Municipality, Haider Majeed, said, “The national project for building schools includes constructing 7,000 schools throughout the governorates of Iraq,” indicating that “the first phase of it will witness the implementation of a thousand schools.”

He added, “The National Center for Engineering Consulting has developed the designs for these schools, of which three designs have been chosen to build schools according to modern and international specifications.” on her”.

Majeed stressed that “the General Secretariat has approached the Supreme Committee on the project, which in turn addressed the People’s Republic of China through the Ministry of Foreign Affairs and its embassy in Iraq to approach companies.” “.

The Chinese companies have expressed their desire and willingness to cooperate with Iraq through the Chinese ambassador in Baghdad during his meetings with the Secretary-General of the Council of Ministers Hamid Al-Ghazi, while there is a mutual and strong desire on the Iraqi side to communicate with Chinese companies on the subject of establishing the first phase of those schools after completing all the related matters. Of the project.

The General Secretariat of the Council of Ministers announces its readiness to start building 7,000 schools throughout Iraq

Source: Dinar Recaps


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