Wed. PM TNT Iraq News Articles 3-22-23



Al-Alaq reveals astronomical amounts outside the scope of banking inside Iraq


The Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed the presence of more than 70 trillion dinars outside the banking system for circulation, indicating that this is a very large amount and represents a high percentage of GDP.

Al-Alaq said in an interview followed by Al-Maalouma that “bank lending is a basis in the banking business with its revenues, profits and operation, or with regard to economic activities in various forms, and that the Central Bank was a pioneer in stimulating the lending capabilities of the banking sector, as we launched this year

2015, an initiative that is perhaps the largest in the history of Iraq, and was represented by allocating 5 trillion dinars for industrial, agricultural and housing projects, as well as one trillion dinars for small and medium enterprises.

Noting that “this initiative was able to contribute to solving the housing problem by providing lending to the housing sector.” He stressed that “the sums that were lent through the banking system touched 13 trillion dinars, and we are working to evaluate these initiatives and benefit from the lessons and put them in the right directions,” noting that “the focus of financing for the next stage will be towards small and medium enterprises, as well as with regard to projects or loans.” Renewable energy in an attempt to meet climate challenges and move seriously towards clean energy.

He said, “The next stage will witness the development of a national strategy for lending, which will be jointly presented to the government and other parties, so that the question of their participation in supporting this plan will be to provide the necessary decisions and procedures for its success,” pointing out that “the indicators


And the data indicate that the banking sector has reached the highest ceiling for lending because the percentage specified according to the instructions of the Central Bank is 70% of deposits, and the banking sector has almost reached this percentage, which requires that there be great efforts.

to attract deposits to the banking sector.

And he warned that “there are more than 70 trillion dinars outside the banking system for circulation, and this is a very large amount and represents a high percentage of the gross domestic product, so it is necessary to focus in the next stage on finding the necessary means to activate the deposit movement through several procedures in this regard, ” pointing to The importance of reviewing banking services in quantity and quality, because banking services have come a long way despite the short life of some banks, but some of them have reached advanced stages and others still need to upgrade the level of banking services in different types and in the way of presentation.

Samsung Electronics Levant launches a mobile bus between Iraqi cities to display its new Galaxy Z, Galaxy S and Galaxy A series of phones

Samsung Electronics Levant announced the launch of a mobile bus between Iraqi cities to display its new devices from the Galaxy Z foldable series, Galaxy S and Galaxy A, as this tour includes a mobile bus between the main cities of Iraq, with the aim of enhancing interaction with Samsung customers in Iraq and giving them the opportunity To get to know more closely about its distinctive new products.

According to Samsung, the tour will start from March 21st to April 8th (depending on the bus route between regions) and will include special offers and many promotional gifts for its customers.

The following devices will be on display during the show tour: Galaxy Z Flip4, Galaxy Z Fold4, S23 Ultra, S23+, S23, A04, A04e, A04s, A14, and Galaxy Watch. The tour will be carried out in major cities in Iraq, including Baghdad, Anbar, Karbala, Najaf, Basra, Erbil, Sulaymaniyah, Dohuk, and Mosul.


In this regard, Moataz Al-Aqrabawi, Head of Smartphone Division at Samsung Electronics Levant, said: “We are very excited about this unique campaign to fully showcase Samsung’s latest products from the Galaxy Z, Galaxy S and Galaxy A series in Iraq, and we look forward to interacting with our customers and showing The value of our products and what you offer them.”

This tour is a unique opportunity for Samsung customers in Iraq to see the company’s new and innovative products, and interact with the leading brand in the electronics industry. Customers can benefit from special offers and promotional gifts offered during the tour.

In addition, the mobile bus will include a fun virtual reality game to attract young audiences and make their experience more fun and in line with their interests.  link

New Hotel and Shopping Mall open in Erbil

The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, has officially opened the new Hyatt Regency Hotel, and the Gulan Mall, in Erbil.

He thanked both Sirwan Barzani and Sabri Ozel for implementing these projects, which he said will pave the way for attracting tourists from the rest of Iraq and abroad to the Kurdistan Region.

Barzani also expressed his hope that foreign companies will invest in Kurdistan, in the interest of both sides.   link

Tap Payments and PayPal to enhance the global reach of MENA companies

From Iraq’s news

ap Payments collaborates with PayPal to expand payment options for businesses in the MENA region _ _


TAP has become one of the key partners in the MENA region to provide PayPal connectivity and operations to businesses , providing a comprehensive payment solution .

Dubai, United Arab Emirates – March 22 , 2023 : Tap Payments, the leading payment technology company in the Middle East and North Africa region, today announced that it has signed a partnership with PayPal, the global leader in payments, to provide PayPal transactions and payments to businesses. This partnership offers MENA companies the convenience of having a single partner for all their payment requirements, streamlines the payment process, streamlines operations, and highlights Tap Payments’ unwavering commitment to facilitating seamless payment experiences for its business partners.

“We are excited to partner with Tap Payments to bring reliable and secure PayPal payments to businesses in the Middle East and North Africa region,” said Mark Moonggela, PayPal Director for the Middle East and Africa. Through this partnership, companies can take advantage of PayPal’s global services to expand their sales across borders.”

Through this partnership, entrepreneurs and companies across the MENA region can expand their global reach and benefit from PayPal’s flexibility and security, enabling them to sell in over 200 countries globally and to 435 million active PayPal accounts worldwide. the world.

According to recent research1 , businesses that offer PayPal as a payment option can achieve almost 30% more sales, and customers who use PayPal spend an average of 43% more money at retailers overall . This is due in part to the Qualified Transaction Buyer Protection and Dispute Resolution that PayPal provides, which gives customers more confidence to shop.

Ahmed Al-Aradi, Executive Vice President of Business at TAP Payments, said: “With PayPal’s trusted reputation in the payments space and its global appeal, this partnership opens up new opportunities for growth and increased cross-border sales for businesses within our ecosystem. We are thrilled with the possibilities this partnership brings and excited to continue pushing the boundaries of possibilities in the payments space.”

Enabling this service saves entrepreneurs time and effort, eliminating the need to open a US bank account to access their funds. Through this partnership, Tap Payments and PayPal are committed to facilitating frictionless payment processing, enabling entrepreneurs to focus on expanding their businesses and achieving their goals.

PayPal has secured a trusted and reputable position in the payment industry with over 435 million active accounts, including 35 million merchants worldwide. As a globally recognized payment method, PayPal provides merchants with convenience, security, and flexibility, making it the preferred choice for businesses around the world. PayPal’s broad reach and unwavering commitment to providing innovative payment solutions has made it a trusted partner for merchants looking to expand their business operations and streamline payment processing.

Tap Payments and PayPal are committed to providing innovative payment solutions to entrepreneurs in the MENA region.  link

Source: Dinar Recaps



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