Home
By 2025, a qualitative leap in performance awaits the Central Bank
Economical 2023/05/16
[You must be registered and logged in to see this image.]
Hussein Thaghb Al-Tamimi
A qualitative leap awaits the performance of the Central Bank by the year 2025 with the move to the new building, which was designed to be a new breakthrough in the performance of the Iraqi financial sector, as it works to take into account the technical developments taking place in the global financial sector, and the design that leads to raising levels of performance, which necessitates the use of advanced systems Which saves effort and time in accurate financial transactions.
Director of the Central Bank of Iraq building project, Eng. Ikhlas Jawad Nazim, told Al-Sabah: “The new Central Bank of Iraq building project represents a quantum leap in performance, construction form, sobriety, and its synchronization with transformations towards clean energy,” pointing out that “the reality of the building gives high flexibility to the process of Transferring and fulfilling the country's cash liquidity requirements, as it will be done in accordance with the latest international technologies in this field.
She added, "The bank's management realized the importance of building a new building that keeps pace with global developments in the field of banking work, "automation" systems, and modern technologies in the world, so the office of the Iraqi designer Zaha Hadid was chosen for this regard, as it is a landmark in the field of architecture in the world, and it is of Iraqi origin, and it was chosen to be It was designed for this new building, and approvals were obtained from the Council of Ministers to send a direct invitation to Hadid in order to develop a distinctive design for the new building, as bank buildings give an indication of the country's financial stability.
Nazim pointed out that "the project has an independent budget, i.e. from the central bank and not from the state's general budget, and the amount allocated is about (885) million dollars, but upon referral it became about (772) million dollars after negotiating with the executing company, as we obtained during the process of preparing the tender With international companies, there are exceptions in this regard, so the bank was excluded from the instructions for implementing government contracts, regarding this project, and we contracted according to international terms and contracts. And it showed that "
Regarding the completion of the building, Nazem said: "We have not set a date yet because there are several existing belongings that need to be resolved, but there is a work program in this regard in which we are trying to reduce the time period for the opening process as much as possible. We can say that we need about a year and a half to open it, and perhaps It will be early 2025."
She pointed out that "the new building of the bank will include, for the first time, a museum that chronicles the history of the Iraqi currency, and there will be educational activities in it that university and school students can visit. Displays on screens that talk about the stages of currency development, and there will also be cultural activities that talk about the history of Iraqi civilization, and the design of the museum will be in a modern and unconventional style, and the company that implements the museum is among the companies that worked with Zaha Hadid and is specialized in museums.
Nazim continued, "The engineering specifications are the most important characteristic of the building. For example, the currency counting and cash center will be a fully automatic (automated) system. Currently, a leading international company specializing in this type of system is designing the building system, where a robot will be used, and we do not need manual labor, so the issue of currency transfer." By carts”, and the traditional methods, as we used to see on Al-Rashid Street, will be completely finished. The currency will be transferred to the “currency conveyor belt comp.” It will be in the form of boxes that move smoothly, approved by all banks, and there will be a barcode on each box until it passes through a belt and is read by the device or a computer It directs these funds according to the system and transfers them to the safe or to the counting and sorting center. This is an integrated automation system that will save time and speed in the process of receiving and delivering currency to banks, as well as currency exchange between the bank and banks or the currency counting and sorting process inside the bank that adopts advanced technology that is consistent with the development of the building.
[You must be registered and logged in to see this link.]
» MM&C 5/9/24 The Federation of Chambers of Commerce and the European Union discuss cooperation to fin
» MM&C 5/9/24 Customs, security and economic aspects
» Union of Arab Banks: Iraq's environment encourages investment
» Government advisor: Movement to recover bad debts for the benefit of the Iraqi Trade Bank
» The International Development Bank announces the opening of its new branch in Erbil
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
» Budget delay: the cry for help for paralyzed services and disrupted dreams
» Oil: Completion of projects to improve the quality of petroleum products, and others are under imple
» Chairman of the Securities Commission: 3 million shares, average daily trading volume
» Tamim calls on the countries participating in the meetings of the Arab Administrative Development Or
» Parliamentary Endowments: 39 thousand pilgrims, Iraq’s share, and waiving the religious obligation i
» Washington refers to Iraqi legislation that “does not harm” his international presence, and Baghdad
» Deputy: Extending the legislative term depends on sending the budget schedules
» Parliamentary Legal: 88 draft laws on the parliamentary shelf
» The head of the movement denies any Iraqi-American negotiations to remove the coalition
» A deputy expects to resolve the issue of electing the Speaker of Parliament next week
» Obtaining the approval of the Minister of Electricity to fill the energy shortage in Dhi Qar
» Economist on the decline in dollar prices: My time and it will not reach its official price
» The Iraqi Ministerial Council for National Security approves the 2024-2028 strategy
» Mulla Bakhtiar: Nechirvan Barzani's visit to Iran melted the ice between Erbil and Tehran
» Password "78"... Why did the Sudanese government's interrogations and noisy sessions decline?
» JP Morgan forecasts an increase in the oil capacity of Iraq and other countries in 2025
» Turkish Minister of Transport: The development road will cost $20 billion
» The Supreme Committee for Reconstruction and Investment approves a package of strategic projects
» Work: Preparing a unified national strategy to create job opportunities for youth
» The Prime Minister's financial advisor reduces the risks of the budget deficit
» Sudanese announces the signing of an agreement with Japan to finance small and medium enterprises in
» Government Advisor: The Securities Commission represents the governance base for promoting financial
» A unified national strategy to create job opportunities for youth
» A one-week deadline to decide the position of Speaker of Parliament
» Parliament: We coordinate with the competent regulatory authorities to examine medicines
» The Commission suspends the Kurdistan Parliament's voting procedures
» $100 million to localize the pharmaceutical industry
» Increase in external remittances at the Central Bank
» A government advisor reduces the risks of a budget deficit
» Culture: We seek to invest in the stability of the country to advance the tourism sector
» Integrity announces the results of a questionnaire on bribery in real estate registration department
» Parliament comments on Sudanese plan to restructure the government apparatus: It needs radical refor
» The dollar rises again against the Iraqi dinar in Baghdad
» Politician: The government does not deal transparently with the issue of expelling the Americans
» A government bank participating in an accounting project
» Masrour Barzani: The Kurdistan Regional Government has implemented all its obligations and duties
» French Consul: France strengthens relations with the Kurdistan Region
» Studies Center: Sudanese faces the challenges of maintaining sustainable relations with the United S
» “The absence of democracy is not possible.” The federal government remains silent on the postponemen
» Taqadum Party: The absence of the Speaker of Parliament disrupted the general amnesty law
» The file of oil export through Turkish territory is under the control of politicians
» For the sake of the position of president and the budget schedules... there is a preference for exte
» “If you bring the equipment, let’s begin.” Revealing the secrets of Erdogan’s visit to Iraq and the
» Parliamentary moves to approve the Human Organ and Tissue Bank Law
» Electricity embarks on an 11-axis plan to develop the energy sector
» Al-Asadi announces work on legislating a law on occupational health and safety
» Al-Rasheed: Increasing the amount of loans for restoration and maintenance of buildings to 50 millio
» Under the chairmanship of Al-Sudani, Reconstruction and Investment agree on projects related to elec
» Baghdad and Tehran.. New discussions regarding railway connectivity to transport visitors between th
» Immigration: Our plan focuses on the voluntary return of displaced persons and rejecting their house
» An Iraqi trade delegation in Iran to facilitate the export of agricultural crops to Iraq
» Sudanese launches work on the Union Mills Project in Babil Governorate
» Parliamentary demands to resolve the selection of the Speaker of Parliament next week: So far, there
» Sudanese inaugurates a sugar production factory expansion project and three other factories
» Al-Sudani confirms the unlimited support from the government to develop the success story in the pri
» From Babylon... Al-Sudani announces the referral of the large Hilla sewerage project, phase two, to
» Al-Sudani: The factories that opened in Babylon provide more than 4,000 job opportunities
» A representative calls for the payment of lucrative compensation to farmers after the flooding of wh
» Government Advisor: The Securities Commission represents the governance base for promoting financial
» utube MM&C 5/7/24 Iraq Dinar- IQD Update - Regional Trade - A Progession of Reforms - A Global Bac
» MM&C The Iraqi Private Banks Association told NEWS: These are the results of the Prime Minister’s me
» After a break of more than 9 years.. the resumption of a government trade meeting between Iraq and A
» Deputy: The general amnesty law will be passed
» A change in the fuel smuggling map... “control” over the central ports and “laxity” in the north
» Al-Sudani takes three urgent decisions to block the wheat mafias in Iraq
» Electricity embarks on an 11-axis plan to develop the energy sector
» “Thug and smuggler.” A female representative talks about a crocodile in Parliament blackmailing exec
» Al-Sudani told the US State Department: Iraq is keen to strengthen its democratic system
» The Central Bank sells more than $275 million at auction today
» The Minister of Commerce stresses the observance of the Iraqi standard in the supply of goods
» The Iraqi Trade Bank announces its participation in the process of localizing the salaries of Kurdis
» Iraq adopts an advanced system to combat money laundering and terrorist financing
» Increase in Euphrates River levels due to Turkish water releases
» Demands the need to legislate the capital law
» Parliament decided to extend the legislative term by one month
» A bank participating in the process of localizing the salaries of employees in the region
» Parliamentary request to the Ministry of Finance regarding defense mobilization dues/document
» Dollar prices in Baghdad and Kurdistan today
» Al-Rasheed decides to increase the ceiling for granting “construction” loans to 75 million dinars
» A government plan to expand the construction of water harvesting dams
» Frozen or banned? An Iranian official reveals the fate of Tehran’s money in Baghdad
» The Iraqi Trade Bank participates in the process of localizing the salaries of Kurdistan Region empl
» Finance confirms the Iraqi government's desire to benefit from the expertise of French companies
» After targeting its branch in Kurdistan... Dana Gas announces a decrease in its profits to $38 milli
» A parliamentary understanding to extend the legislative term to approve the 2024 budget schedules
» Stopping the Commission’s procedures regarding the region’s elections
» Foreign oil companies violate Iraqi laws
» The position of Speaker of Parliament depends on the political agreement
» The Ministry of Finance decides to send the April salary to the Kurdistan region
» It did not reach the Council.. Parliament determines the mechanisms for dealing with the 2024 budget
» 88 projects awaiting resolution.. What will happen to the stalled laws in Parliament? - Urgent
» Al-Sudani receives the US Undersecretary of State