Baghdad’s cultural icon
President of the Association of Iraqi Private Banks Wadih Al-Handal «Economy News»
Articles Wadih Al-Handal*
The Central Bank of Iraq and the Association of Iraqi Private Banks enthusiastically responded to the generous invitation to contribute to the project for the reconstruction and development of Al-Mutanabbi Street within the framework of the “Tamkeen” initiative, which is supervised by the Central Bank of Iraq and the Baghdad Municipality is participating in its implementation.
On the first of the current month of August, the pioneers of the men in the engineering department of the Association of Private Banks, along with their counterparts in the Baghdad Municipality, set out to start implementing the project within the specified time limit of 150 days.
The Association of Private Banks, as one of the sponsors of the project and the representative of the private banks financing it, was keen from the first moment and since the project was just an idea to actively contribute in all its stages of planning and implementation until its final stages.
Al-Mutanabbi Street can be described as “Baghdad’s cultural icon and its cultural center”, where the book trade of all kinds and fields flourishes, and on Fridays there are cultural festivals in which hundreds of artists, intellectuals, poets, writers, journalists, university professors and academics in various disciplines participate, while the street turns into a media platform during which television interviews are held. Journalism with creators in various aspects of intellectual, cultural and scientific life represents a rare opportunity to broadcast their concerns and preoccupations and present their products and summaries of their scientific, civilized and literary experiences.
The project, whose implementation is supervised by the Municipality of Baghdad in coordination and cooperation with the Association of Private Banks “the Engineering Department” within the framework of the “Tamkeen” initiative, includes several stages of completion with specific precise timings, and vigorous follow-up, foremost of which is the removal of floors and sidewalks from the beginning of the street to the site of the Al-Mutanabbi monument overlooking the Tigris River, and the implementation of A new sewage network, paving the street and sidewalks with basalt stones, and maintenance and rehabilitation of all buildings and gates that will be controlled by electric power.
The development stages also include the work of aluminum and glass facades, the implementation of a modern underground electricity network, the removal of random wires, the work of an advanced lighting system along the street and even the monument of Al-Mutanabbi, as well as furnishing it with seating, manufacturing carts, simple kiosks, and modern kiosks for book sellers distributed on both sides of it.
And because Al-Mutanabbi Street is not an ordinary street, it needs clever engineering minds and keen entrants who know how to deal with heritage with great care and extensive knowledge, based on what this landmark represents of great importance and an influential role among intellectuals, academics and those interested in thought and heritage and the importance of the civilizational project.
The Governor of the Central Bank was accompanied by Amin Baghdad and the Executive Director of the Association of Iraqi Banks to visit the work site recently to see closely the various development plans.
The Secretary-General of the Council of Ministers, Hamid Naim Al-Ghazi, also held a meeting with the President of the Association of Private Banks, Wadih Al-Handal, to discuss the mechanisms for implementing the project within the framework of the “Tamkeen” community initiative.
We eagerly look forward to the day when we celebrate the completion of the development project that will turn Al-Mutanabbi Street into a unique cultural, heritage and tourist edifice that tells the intellectual renaissance of Baghdad, and brings to mind its glorious history and its ancient glory, when it embraced the House of Wisdom, the beacon of thought that shone with its light on the world.
* President of the Association of Iraqi Private Banks
Additional data of interest:
MilitiaMan » August 21st, 2021
There comes a time when the education gets out in a manner that is culturally acceptable. There is a hierarchy in play. Starts from the top down.
Take notice in the article above that they prepared a place to teach. A place that is new, modern and automated. It is of aluminum and glass. There is media and television. They are tools to get the higher echelons the information that they need and in return will pass along to those that are under them in status, education, authority, etc..
If we look at what has been going on in terms of the CBI to the White Papers for reforms and that there is a project for re construction to be on going, we have a new economy now to jumpstart, to do just that.
Along side the initiative for Iraq, they are to be a part of a Global Transformation. A DIGITAL GLOBAL TRANSFORMATION. That includes many facets. One of which will be at the end. That is to introduce their currency to the likes of the list of attendees at Al-Munatabbi St in Baghdad. There is talk now that there are is an expectation for purchasing power to be exposed.
Ask yourself, isn’t their art on currency, is there not poetry, heritage, intellectualism, all related to a countries currency? Sure there is.. This article is of interest and especially now, the timing is not a coincidence.
We all know from the final article thread that there is to be Monetary and Economic Reforms in tandem that started months ago. This PM is one to make sure everything is in order and timely put out for effect and on purpose. The help of the Central Bank and Private Banks is all a part of the implementation of the afore two reform projects. One of which is money.
To get to a market economy a new exchange rate will need to be exposed, just as there will be a time that they will have to share to those in the line up, what to expect and why and in what amounts and level of participation, whether physically or digitally.
The final push to completion is a sensitive one. They’ll not have much time to get them on board and will need them to be informed of the REER that (Real Effective Exchange Rate) will be assigned.
The convergence of the new notes and the exchange rate needs to be quick and imo seamless. Down to tellers and ATM machines.
The talk of the glorious history and it’s ancient glory to become again the beacon of light shown to the world is about to be exposed to the not only higher echelons, but, the citizens next, then to the world… It will also be a digitally transformed currency with all the glory of the past. imo..
Lets see what this weekend brings us.. I’lll bet there will be much to come.. imo ~ MM
“Great opportunities for enhancing financial services by fostering the use of DLT/ Blockchain Technologies in Arab Countries Guidelines and roadmap on how to embrace these technologies in the financial sector, how to employ it properly and the related requirements” LINK
Source: Dinar Recaps
Samson » August 21st, 2021
Oil Prices Drop, Recording The Largest Weekly Loss In 9 Months
21st August, 2021
Oil prices recorded the largest weekly loss in more than nine months, as they fell in their last session before closing, as Basra crude fell to more than 8.5% in a week.
Basra crude fell in its last session before closing Friday 95 cents, a change of 1.41%, to reach $66.23, to record a weekly loss of 8.56%.
Saudi Arabian crude also witnessed a decline in its last session, which amounted to 0.86% to reach $67.77, and Kuwaiti crude decreased by 4.33% to reach $67.47.
Specialists believe that the escalation of infection rate due to the delta strain of the Corona virus, many countries around the world have returned travel restrictions to stop the spread.
Brent crude fell 8% during the week, to record $65.18 a barrel, the lowest level since April.
And US West Texas Intermediate crude for September delivery was settled down $1.37, or 2.2%, to $62.32 a barrel, to lose more than 9% during the week. LINK
Source: Dinar Recaps
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