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The Central Bank organizes workshops for digital transformation in the business sector


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  •  Time: 09/18/2021 16:36:25
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The National Investment Authority launches the (Invest in Youth) initiative
  
{Economist: Al Furat News} The National Investment Authority launched, on Saturday, an initiative to support Iraqi youth under the slogan (Invest in Youth) under the auspices of Prime Minister Mustafa Al-Kazemi.


According to the commission’s statement, {Al-Furat News} received a copy of it that “the initiative came with the aim of putting forward a number of innovative investment projects by a number of young people to a specialized committee of professors.” In the ministries and institutions concerned, and in the presence of a number of ministers and officials from the public and private sectors, with the aim of obtaining financial support for the implementation of these projects.
In her speech, the head of the commission, Suha Daoud Najjar, confirmed that "this initiative comes within the framework of supporting young people to enter the investment process currently existing in Iraq with new developmental ideas in various economic sectors," noting that "
Najjar indicated, "The desire to convert these proposed ideas into important investment projects that support the Iraqi economy and provide job opportunities to eliminate part of unemployment in Iraq," stressing "the organization's determination to support young people and communicate their ideas to supporters from the private sector to establish these projects on the ground and pump blood." A new investment process in Iraq that complements the successes achieved by major investors and is a real extension of them.
For his part, Minister of Finance, Ali Allawi, said in his speech that "there are intellectual potentials among young people, which the ministry seeks to support by establishing a fund for which 30 billion dinars has been allocated. The ministry will also launch new initiatives to support youth companies, especially in the digital sector that led by the youth,” he called on the competent international institutions to “contribute to expanding the fund’s amount to reach 50 billion during the next two years, under the supervision and participation of a number of ministries.”
The young participants in this initiative presented their project ideas to the public and private sectors, which included eight projects with innovative ideas that included various economic sectors (industrial, technical, health, commercial and educational), seven of which received support from investment companies and banks affiliated with the private sector.
 It was agreed to hold direct meetings between young investors and those who support their projects to put the final steps to implement them on the ground. According to the statement

Wafaa Al-Fatlawy

 
 
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An economist explains the importance of the “Invest in Youth” initiative and its impact on the market
  
{Economist: Al Furat News} The economic expert, Alaa Al-Fahd, explained on Monday the importance of the “Invest in Youth” initiative and its impact on the market.
 

Al-Fahd told Al-Furat News, "The initiative of the National Investment Authority to support young people in small and medium projects is an opportunity for this category to choose their projects, especially since the state's administrative apparatus is flabby and it is not possible to add appointments under the current circumstances."
He added, "These initiatives were undertaken by several countries such as South Korea and Singapore, which operate the economy and form the nucleus of large projects," adding, "the private sector is looking for successful projects with economic feasibility."
Al-Fahd said, "The fund's capital is approximately 30 billion dinars, if we calculate each project from 10-25 million dinars, it will cover approximately 750 small projects that contribute to the employment of young people as a first process and then proceed to a larger one."
He noted that "
Last Saturday, the National Investment Commission launched an initiative to support Iraqi youth under the slogan (Invest in Youth) under the auspices of Prime Minister Mustafa Al-Kazemi.
In her speech, the head of the authority, Suha Daoud Najjar, confirmed that "this initiative comes within the framework of supporting young people to enter the investment process currently existing in Iraq with new development ideas in various economic sectors," noting that "the authority will give these young people an opportunity to present their ideas before the sector's attention. The year represented by the presence of a number of ministers and officials in relevant institutions, in addition to a number of investors and businessmen interested in supporting this initiative.
For his part, Minister of Finance, Ali Allawi, stated that "there are intellectual potentials among young people, which the ministry seeks to support by establishing a fund for which 30 billion dinars has been allocated. The ministry will also launch new initiatives to support youth companies, especially in the digital sector led by young people." He called on the competent international institutions to "contribute to the expansion of the fund's amount to reach 50 billion during the next two years under the supervision and participation of a number of ministries."

Wafaa Al-Fatlawy

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Counselor at the Association of Private Banks Sherawan Anwar Mustafa
  

 banks


Economy News - Anbar

The Central Bank, in cooperation with the Association of Iraqi Private Banks, organized a workshop entitled "Global Digital Transformation and its Impact on the Business Environment in Iraq". In cooperation with the Federation of Iraqi Businessmen, Al-Anbar branch.

The workshop was held in the meeting and conference hall in Al Rayyan Tourist Complex in Al Ramadi Corniche.

The workshop aims to support the youth category in the governorate, as they were provided with 200 free licenses from the Coursera program to develop their skills and push them into the labor market.

This is in line with the vision of the Central Bank that supports the youth category, especially as it constitutes the largest part of the Iraqi society. 

It is noteworthy that the Central Bank of Iraq launched more than one initiative that contributed to creating many job opportunities for the youth category and contributed to supporting many small and medium enterprises.

The advisor at the Association of Private Banks, Sherawan Anwar Mustafa, gave a presentation on the "Global Digital Transformation Program and its Impact on the Development of the Business Environment in Iraq". 

He added in his speech during the workshop, which was attended by "Economy News", that "the Association of Private Banks continues its cooperation with the Central Bank through this workshop in support of the community category."

He stressed that "what the cities liberated from ISIS have been subjected to requires us all to focus on the youth group, as they are the leaders of tomorrow and the best people to live in the destroyed cities."

Mustafa is clear that "the concerned authorities decided to allocate 200 free scholarships from Coursera grants in various fields to develop youth skills."

He pointed out that "the presence of future workshops that support the youth and women category in all Iraqi governorates, and this is part of a joint vision between the Association of Iraqi Private Banks and the Central Bank of Iraq."

 
 
Views 23   Date Added 10/04/2021
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 Morning: Nafeh Al-Naji
The Central Bank of Iraq, with the participation of the Association of Private Banks, is intensifying their efforts aimed at implementing training programs for large sectors of Iraqi youth, on the new specialties required in the labor market in order to qualify them to lead the transition to the digital economy. Economists agree that digital transformation will establish a new economy in Iraq that keeps pace with global developments, but this depends on the active participation of all institutions that aspire to develop and improve their services and facilitate their access to beneficiaries.
 
E-Marketing
The financial affairs specialist, Shirwan Mustafa, explained that "the effective and effective use of communication networks in the field of electronic marketing works to encourage and consolidate the idea of marketing local products strongly through these networks," adding, "What we are doing is part of a large program to create a training environment for young people to invest These are opportunities that fit their hopes and aspirations in the era of the information revolution.”
Academics believe that the digital transformation of the Iraqi economy requires long-term economic reforms that cover the pillars of the digital economy, such as ensuring access to an ideal, efficient and high-speed Internet service, improving the delivery of digital government services, and improving secure access to data. 
 
digital transformation
Academic Saud Jayed says, "The first step in the Iraqi digital transformation should be through the provision of electronic payment services and means in full, including all Iraqis," adding: "The Iraqi economy currently appears to lag behind its peers in neighboring countries, due to the absence of modern technologies that The whole world is currently pursuing it, but this does not mean that we have the necessary capabilities and resources in digital transformation, and most banks have recently expanded the method of electronic payment and providing loans after it was done according to a cumbersome mechanism for customers.”
 
Work Governance
As for the lecturer at the College of Administration and Economics, Dr. Muhammad Samir Dheereb, he said to (Al-Sabah) “We must have clear laws regulating the work of dealings with companies that provide us with telecommunications and Internet services before we begin to govern the banking business and turn it into a fully digital field.” He continued, “The world of banking is in dire need. to modern digital technologies, but this requires huge efforts and capabilities at the highest level in providing the appropriate infrastructure, as well as ensuring cyber security, lest hackers and fraudsters penetrate those digital networks and sites. 
banks}.
It is known that the digital economy occupies an advanced position in the priorities of decision-makers in various countries of the world, for its important role in increasing economic growth and improving competitiveness in markets by improving access to information, characteristics and requirements of markets in order to achieve comprehensive development.
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Development of electronic banking and mobile banking services to become the primary means of the payments system to encourage more access to traditional banking services and enhance financial inclusion.

 

Go CBI

Go Reforms 

Go RV

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