Tuesday, January 30, 2024
Pictures of the electronic payment card issuance service at gas stations, 31 JAN
Pictures of the electronic payment card issuance service at gas stations
Baghdad – 964
Today, Tuesday, the Petroleum Products Company, in cooperation with Rafidain Bank, launched the service of issuing electronic payment cards at fueling stations.
The company stated in a statement, a copy of which was received by the 964 network:
The company’s general manager, Mr. Hussein Talib, said that the company, in cooperation with the Rafidain Bank and electronic payment companies, has begun setting up kiosks at gas stations, specifically the Al-Mansour filling station in Baghdad, to issue cards for free to those who wish, indicating that the required documents are limited to the national card and the residence card, calling on citizens to issue cards and invest time for the purpose. Electronic supply, while he confirmed that the service will be introduced successively throughout Baghdad and the governorates.
964media.com
"RV UPDATE" BY MARKZ, 31 JAN
MarkZ
[via PDK]
...bank story from Canada... “My brother went to a Canadian Imperial bank of Commerce or CIBC in Saskatoon. Establishing his new bank account...my brother said he had several devalued currencies. Then he asked them if they were aware of the RV we are waiting on. She replied “Yes I am - I can’t say anything else as I am under an NDA from the bank“ So they cannot give details but they are ready .”
Question: Can the RV happen before the Mar. 11 fiat/asset backed flip?The American withdrawal from Iraq…fact or illusion?, 31 JAN
The American withdrawal from Iraq…fact or illusion?
Samir Daoud Hanoush
In every conversation about a dialogue between Iraq and America, that dialogue provided examples of the manipulation of words and terminology in the use of deceptive rhetoric that carried ambiguous messages and fragmented concepts among the tools of war of minds and hearts.
At a time when the Iraqi Foreign Ministry announced the agreement with the American side to form a committee to begin talks on the future of the American-led military coalition in Iraq to coordinate on a timetable for the gradual withdrawal of forces and end the mission of the international coalition, the statement of US Secretary of Defense Lloyd J. Austin regarding the work of the working group meetings was The US-Iraqi Supreme Military Committee indicates the continuation of security and military cooperation through a sustainable bilateral security partnership between the United States and Iraq without indicating a withdrawal of American forces, which means the continuation of American influence in Iraq and leads to the inevitable result of postponing the withdrawal or at least calming the situation in the region until The completion of the American elections scheduled to be held in November of this year, which is a gain at a time when America is betting on it to resolve the problems of its elections or the Gaza war.
Despite the seriousness of the government of Muhammad Shiaa Al-Sudani in drawing a road map to regulate the relationship between the two sides and the Iraqi desire for American withdrawal, it is still a long way off and it is hard work. It is too early to reveal the next steps now, according to Fadi Al-Shammari, Al-Sudani’s political advisor, confirming, adding that the decision will not be a patchwork solution. According to his description.
The American statement indicated that “American military personnel are in Iraq at the invitation of the Iraqi government as part of the Operation Inherent Resolve mission to advise, assist and empower Iraqi security forces in their ongoing fight against ISIS.”
The model of the American statement in which he addressed public opinion considered that the beginning of the Military Committee (HMC) process reflects the development of the bilateral relationship between the United States and Iraq under the Strategic Framework Agreement, which means that the decision does not necessarily include withdrawal from Iraq, but rather leads to achieving a sustainable security relationship and paints a new picture. This relationship is the opposite of what some Iraqis who dream of the occupation forces leaving their country imagine.
The committee’s work, which will begin in the coming days to implement the commitment that the two parties signed during the Joint Security Cooperation Dialogue between the United States and Iraq (JSCD), which was held from (7-8) August 2023 in Washington, D.C., depends on three factors, namely the threat posed by ISIS. And the operational and situational requirements and capacity levels of the Iraqi security forces. Working groups of military experts will study these three factors and provide advice to the Supreme Military Committee (HMC) to ensure that ISIS cannot re-emerge .
It is known that the United States deploys approximately 2,500 military personnel in Iraq to provide advice and support to the Iraqi armed forces to prevent the return of terrorist organizations.
The Washington Post quoted Pentagon spokeswoman Sabrina Singh as denying that the Iraqi-American Supreme Military Committee talks announced by the Iraqi Foreign Ministry and the US Department of Defense were related to the withdrawal of American forces from Iraq.
Singh notes that the issue is whether Iraq is prepared to succeed in defending its own security and sovereignty and how the United States can support Iraq in doing so.
According to the newspaper, talks between Baghdad and Washington on the issue of presence were ongoing even before the attack launched by Hamas on Israel on October 7, 2023, which exacerbated the tension between the American forces and the armed factions, while stressing that they are not negotiations for withdrawal.
It was noteworthy, at a time when Iraq was actively starting its dialogue on the future of the military alliance, that the American embassy in Baghdad significantly reduced its staff in conjunction with the Gaza war, which led to the suspension of the issuance of visas to ordinary citizens, as they are currently granted only to high-level government delegations, according to a diplomatic source. With US President Joe Biden intending to nominate Ambassador Tracy Ann Jacobson to the position of Ambassador Extraordinary and Plenipotentiary of the United States to the Republic of Iraq, instead of Ambassador Elena Romanowski.
The factor of time and procrastination is what Washington is betting on to alleviate the volume of attacks that have begun to increase on its bases in Iraq and to calm the situation, even if only temporarily, until Biden’s chances of winning a second term or leaving the White House are revealed. This is a summary of what is going on in the story of the American withdrawal.
almaalomah.me
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 31 JAN
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Sudani says Iraq is on the verge of transformation process.
FRANK: Transforming from a program rate to a sovereign national rate...Everyday Sudani is pointing in the direction of your new exchange rate or your new national currency. Everyday he tells you there's a transaction, yeah from a program rate to an international rate.
FIREFLY: Saying 9 Iraqi officials arrested for extreme wealth from corruption. FRANK: Sudani is going all out...this is amazing...You're busted!
FIREFLY: Sudani is on TV saying Iraq is on the verge of a transformation process.
FRANK: Every day Sudani is joining in the direction of your new exchange rate and your new national currency. He tells you there's a new direction occurring, yeah, from a program rate to an international rate.
FIREFLY: Television is showing Parliament Finance committee saying we are close to closing the parallel market and solving the dollar exchange rate. FRANK: How many ways can they tell them?
FIREFLY: Channel One TV is saying we just overtook and stopped the most dangerous and most corrupt organization that has ever stolen dinars. They stole over 1 trillion dinar...individuals arrested and groups have been stopped.
FRANK: The money was recovered...This is the phase of the monetary reform right now, to recover this type of money, to be in position to float internationally...
FIREFLY: TV showing the meeting in Davos with CBI governor, IMF, World Bank and Sudani have shortened the time on financial and banking reform. They're saying it's a shorter time expected now to complete the reforms .
FRANK: He is telling you they are very very close to giving you the new exchange rate with the lower denoms ...What happened at Davos put the monetary reform on light speed.
FIREFLY: On the economic news an economic specialist is saying Iraq needs to use a basket of currencies to add value to the dinar against the dollar.
FRANK: Sudani sends out another expert in the financial field that you know and trust...Exactly what we've been telling you. This is the next phase IOO... This is the most powerful part of the monetary reform education to you as an Iraqi citizen...The basket of currencies is required in order to add value to the Iraqi dinar.
They will never talk to you about something that needs to be done. They will talk to you about it after it is done. That is what is called the float and that is what is going to take you back to your RI. Your currency rate has to be reinstated back to $3.22 but that's the international side of Iraq...
The goal of the CBI is to reach the Real Effective Exchange Rate. In doing so it adds value to you even thought it's 1 to 1 in country...It will stay at 1 to 1 to the American dollar in Iraq but you will finally have your purchasing power that you have long waited for.
https://dinarevaluation.blogspot.com/2024/01/iraq-boots-on-ground-report-by-firefly_0959338502.html
FIREFLY: Channel One TV is saying we just overtook and stopped the most dangerous and most corrupt organization that has ever stolen dinars. They stole over 1 trillion dinar...individuals arrested and groups have been stopped.
FRANK: The money was recovered...This is the phase of the monetary reform right now, to recover this type of money, to be in position to float internationally...
FIREFLY: TV showing the meeting in Davos with CBI governor, IMF, World Bank and Sudani have shortened the time on financial and banking reform. They're saying it's a shorter time expected now to complete the reforms.
FRANK: He is telling you they are very very close to giving you the new exchange rate with the lower denoms...What happened at Davos put the monetary reform on light speed.
FIREFLY: On the economic news an economic specialist is saying Iraq needs to use a basket of currencies to add value to the dinar against the dollar.
FRANK: Sudani sends out another expert in the financial field that you know and trust...Exactly what we've been telling you. This is the next phase IOO... This is the most powerful part of the monetary reform education to you as an Iraqi citizen...The basket of currencies is required in order to add value to the Iraqi dinar.
They will never talk to you about something that needs to be done. They will talk to you about it after it is done. That is what is called the float and that is what is going to take you back to your RI. Your currency rate has to be reinstated back to $3.22 but that's the international side of Iraq...
The goal of the CBI is to reach the Real Effective Exchange Rate. In doing so it adds value to you even thought it's 1 to 1 in country...It will stay at 1 to 1 to the American dollar in Iraq but you will finally have your purchasing power that you have long waited for.
https://dinarevaluation.blogspot.com/2024/01/iraq-boots-on-ground-report-by-firefly_0959338502.html
Saleh Reveals The Reason For The Limited Rise And Fluctuation Of The Dollar Exchange Rate Recently, 31 JAN
Saleh Reveals The Reason For The Limited Rise And Fluctuation Of The Dollar Exchange Rate Recently, 31 JAN
Time: 01/30/2024 08:14:41 Read: 1,638 times {Economic: Al-Furat News} The Prime Minister’s Advisor for Financial and Economic Affairs, Mazhar Muhammad Saleh, revealed the limited rise and fluctuation of the dollar’s exchange rates recently.
Saleh said in a press statement, “The issue is related to regional security tensions, which provide colored or ambiguous information that affects the decisions of speculators in the secondary exchange market when buying and selling, which prompts them to hedge with a point or two above the current market transaction prices or trading prices in such cases.” People are used to it."
He explained that it is “behavior practiced by speculative forces to achieve emergency or estimated profits under the pretext of misfortune and fear, because the decisions of this market are based on various information as inputs that influence the decisions of those dealing in it. Therefore, these markets are considered among the most sensitive financial markets and live in their daily speculation on news, rumors, and conflicting information.” To determine prices, which is a cost that disappears when the influencer disappears. LINK
"RV UPDATE" BY PIMPY, 30 JAN
Pimpy
Changing the exchange rate has a huge impact on inflation, imports and exports. I think Iraq can easily go up in increments. This will allow them to really monitor the inflation. This will also increase the quality of life for the Iraqi people.
People are getting confused…When they delete the zeros, they’ll change the currency. It’s not the exchange rate.Empowering the Iraqi Economy: Growth Through Strategic Investments and Banking Excellence, 30 JAN
Empowering the Iraqi Economy: Growth Through Strategic Investments and Banking Excellence
Economy News – Baghdad
Cihan University – Duhok held the “Third Annual Economic Forum”, in the presence of Zerfan Abdul Mohsen Asaad, President of the University, and a number of experts, economists, bank managers and academic figures.
The forum was held on the hall of the Research Center, under the theme “Empowering the Iraqi Economy: Growth through Strategic Investments and Banking Excellence.”
The first session began at 11 a.m., which lasted for two hours, was administered by Ahmed Al-Saffar, an academic and a member of the former Iraqi parliament.
The first speaker was Abdul Hussein Al-Anbaki, head of the Economic Advisory Office of the Iraqi Prime Minister, who began his talk about the challenges facing development in Iraq.
Al-Anbaki stressed “the need to address the structural imbalances in the economy, noting that the goals associated with Article (25), which aims to reform the economy through the diversification of sources and support for the private sector have not been achieved.”
Al-Anbaki referred to “the history of the Reconstruction Council and the impact of changes in its allocations on its effectiveness,” proposing the establishment of an independent popular development fund to finance government and private projects with soft loans. He concluded with recommendations for pre-economic administrative reform, a review of the management of oil revenues, the amendment of the exchange rate of the Iraqi dinar, the cancellation of the currency auction, and the legislation of the Public-Private Partnership Law.”
The second speaker, Haval Siddiq Ismail, representative of the Minister of Investment of the Kurdistan Region, and Director General of the Investment Authority in Duhok, who “provided a comprehensive analysis of the investment situation in the region. Provide details of investment projects and sectors that are successful in attracting investment, focusing on challenges, opportunities and government policies that encourage investors. Dr. Hval also highlighted regulatory and bureaucratic hurdles, and provided a realistic assessment of potential difficulties and opportunities. In the end, he provided details about the potential opportunities and government policies pursued by the KRG to facilitate a thriving investment environment.”
The second session began at 1 p.m. and also lasted for two hours, where it was managed by Nawar Al-Saadi, a professor of international economics and director of the research center at Ceyhan University.
The second session began with the speech of Mohammed Al-Najjar, Advisor to the Iraqi Prime Minister for Investment, and Executive Director of the Iraq Fund for Development.
In his speech, Al-Najjar highlighted “the Iraq Fund for Development, which was newly established as an independent body under the Prime Minister. Al-Najjar spoke about the Fund’s role in promoting change and diversification of the Iraqi economy. The fund aims to attract domestic and international investors to participate in the implementation of various projects.”
One notable example discussed by Al-Najjar was “the ongoing project to build 1,950 schools across Iraq. These projects will be delivered to private sector investors and to the Iraqi investor exclusively, with guarantees such as the return of capital after five years. This approach not only encourages domestic investment, but also ensures the effective participation of the private sector in the reconstruction process of Iraq.”
The fund’s strategy focuses on “different stages of investors, from domestic to foreign investors. Emphasizes the involvement of local stakeholders to promote local ownership in development projects, with a focus on delivering projects to the private sector to ensure a return on capital after a certain period.”
Regarding the second speaker, Ahmed Tabaqli, Chief Strategist at the Iraq Fund at the Aswa Development Fund,
He talked about “strategies to attract investments to the Iraq Stock Exchange. Which featured the market a strong performance, with the AFC fund up 110.4% in 2023, making it one of the best in the world.”
Tabaqli explained this performance “by developing new measures by the Central Bank of Iraq, which has accelerated dependence on banking services and promoted growth in the non-oil economy. The market has also been affected by the country’s relative stability, which has created a more stable economic environment and attracted the attention of international investors.”
Tabaqaly also pointed to the role of the market in supporting the development of an effective economy by providing capital for companies, and believes that the development of the Iraq Stock Exchange contributes to enhancing GDP and economic stability in the region.
Then many interactive questions, discussions and inputs were asked by the attendees, and in the end of the forum came out with a set of proposals and recommendations that will be submitted to the concerned authorities.
"RV UPDATE" BY NADER FROM MID EAST, 30 JAN
Nader From The Mid East
Algeria is big and has a lot of assets but they have a lot less than Iraq and their dinar is stronger than Iraqi dinars. If you look a the Tunisian dinars, Tunisia has nothing...and their dinars are 3 to 1 - Three dinars to $1. My point is these people has nothing. They're coming out a revolution. They is a mess. It's completely a mess. They lost a lot. The private sector is a mess and its [their dinar] is still strong. Iraq, this rate is still a punishment rate...They have to revalue. If they revalue they're going to revalue 1 to 1.
We coming out from war. We coming out from the worst thing in our life. We just start to walk...We just start to grow...It almost collapsed but didn't collapse. It maintained itself and maintained himself stable...The only thing that destabilize the economy of Iraq is the war...Iraq is a very strong country...In a couple years Iraq is going to be one of the stronger countries in the world...Iraq is very strong.
Iraq survived the worst thing in their life. We survived 3 or 4 wars in the last 50 years. We survived it and each time we came back and we came back strong. This time we're going to come back very strong...Iraq economy never collapse by himself. Iraq economy always stable unless somebody else disable it for them. Iraq's economy is one of the best economy in the world and it's going to come back to the best economy in the world. The negative things about Iraq will never revalue, it's a scam, that's all bullshit. Iraq's going to come back one day and it's coming to come back soon.
https://dinarevaluation.blogspot.com/2024/01/we-coming-out-from-war-by-nader-from.html
US Treasury Department confirms its commitment to joint work with the Iraqi government, 30 JAN
US Treasury Department confirms its commitment to joint work with the Iraqi government
The U.S. Treasury Department on Tuesday confirmed its commitment to “long-term joint work” with the Iraqi government, a day after it sanctioned an Iraqi bank for “financing terrorism.”
The U.S. Treasury said in a statement that the Undersecretary for Terrorism and Financial Intelligence, Brian E. Nelson visited Baghdad on January 28 and 29 to “continue the work between the two countries on combating illicit financing and strengthening the Iraqi financial system.”
She pointed out that Neslon met during the visit senior government officials, including Prime Minister Mohammed Shia Al-Sudani, the Governor of the Central Bank of Iraq Ali Al-Alaq, the President of the Supreme Judicial Council, Faiq Zidan, and Minister of Transport, Razak Mohibes, to “discuss the recent measures taken by the United States and ways to enhance cooperation between the two countries.”
The US Treasury Secretary also met with representatives of the financial sector, including the Chairman of the Board of Directors of the Iraqi Trade Bank Bilal Al-Hamdani and representatives of privately owned banks to discuss ways in which bilateral efforts can provide “new opportunities for communication between Iraqi banks and the international financial system, which will benefit the Iraqi economy and the Iraqi people, while protecting the international financial system from misuse.”
The U.S. Treasury renewed its commitment to “long-term joint work with the Government of Iraq to strengthen the Iraqi economy and protect the U.S. and Iraqi financial systems from abuse.”
https://www.dijlah.tv/index.php?page=article&id=341798
"RV UPDATE" BY WALKINGSTICK, 30 JAN
Walkingstick
The electronic platform that Aki's bank is doing are being done in all the banks around the world linking up to the CBI. The citizens from here to there, Visa/Mastercard, all these accounts, this is a big deal...This is the door that is opening up for the Iraq dinar to float.
At any time of notice the next step in the monetary reform IMO will be very quickly at a moments notice.
They are now in Davos... Iraq's monetary reform is a hot topic because Iraq's monetary reform is restoring confidence in the Middle East...These conferences are only by invitation only. To see Iraq there and to be the star at the Davos meeting tells us Iraq is no longer with a program rate. It is an impossibility...
Movements before they release the lower denoms and new exchange rate we expected to see this...
December was to have everything ready in place to go. January all these systems are being implemented through the monetary reform education. From private banks like the one Aki [Iraqi bank friend] represents to international markets as of today January 15, 2024 they're all international now.
It's what we expected...there's not more to say...because everything now is in print...
https://dinarevaluation.blogspot.com/2024/01/rv-update-by-walkingstick-17-jan.html
- Mon. 15 Jan. In Dec. Walkingstick: Everything was ready in place to go. During Jan. all systems were being implemented through the monetary reform education. As oftoday 15 Jan. they’re all international – from private banks like the one Aki [Iraqi bank friend] represents to international markets. It’s what we expected. There’s not more to say because everything is in print now.
Al-Sudani renews his call for Tunisian companies to invest in Iraq, 30 JAN
Al-Sudani renews his call for Tunisian companies to invest in Iraq
Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani called on Tunisian companies to participate in projects, investment opportunities, and infrastructure construction in Iraq, while stressing the importance of economic integration and the success of the upcoming Iraqi-Tunisian committee meetings in Baghdad.
The Prime Minister's Media Office stated, in a statement received by Al-Iqtisad News, that "Al-Sudani received the Ambassador of the Republic of Tunisia to Iraq, Shukri Al-Latif, where, during the meeting, they discussed the horizon of joint cooperation between the two brotherly countries, and ways to strengthen relations at various levels and fields, in a way that would benefit "In the interest of the Iraqi and Tunisian peoples."
Ambassador Shukri Latif conveyed the greetings of Tunisian Prime Minister Ahmed Saleh Al-Hashani to Al-Sudani, his appreciation for Iraq’s positions, and the sincere desire to expand the strategic partnership and strengthen friendship between the two countries, which Tunisian President Kais Saied espouses, according to the statement.
He also conveyed to Al-Sudani a written message from Al-Hashani, which included sending an official invitation to the Prime Minister to visit Tunisia, in order to discuss ways to diversify areas of cooperation, raise them to the highest levels, and confirm the trend towards constructive joint work.
The Prime Minister expressed his "appreciation for the invitation and responding to it as soon as possible," stressing "the importance of mutual support in international forums and Tunisia's position on the Palestinian issue."
Al-Sudani also renewed his "invitation to Tunisian companies to participate in projects, investment opportunities, and infrastructure construction in Iraq, and the importance of economic integration and the success of the upcoming Iraqi-Tunisian committee meetings in Baghdad." link
"RV UPDATE" BY MNT GOAT, 30 JAN
Mnt Goat
Article: "NATO CONFIRMED TODAY, TUESDAY, THAT IRAQ IS A REGIONAL LEADER IN THE REGION AND IS TODAY MORE SECURE AND STABLE"
Quote: "...the NATO mission is an advisory mission, not a combat mission, and that Iraq is a regional leader in the region, and is safer today and stability." This was nice to hear that they believe Iraq is SAFER and STABLE. This is what we need.
CBI CONTACT INFO:The Bank of Jordan links Iraq through an electronic system with four Arab countries, 30 JAN
The Bank of Jordan links Iraq through an electronic system with four Arab countries
The Bank of Jordan announced, today, Tuesday, the opening of its branch in Iraq, confirming that Iraq is linked to an electronic system with four Arab countries, while indicating that the Central Bank is making great efforts to develop the banking sector in Iraq.
The General Manager of the Bank of Jordan Group, Saleh Hammad, told the Iraqi News Agency (INA): “Iraq includes a strategic investment market that has all the elements of a successful investment, so we are keen to be present in this market that leads to joint investments between Iraq and Jordan.” .
He explained, "Joint investments need financial products and services that meet all the requirements of various segments of businessmen, investors, and companies. Therefore, the value that any external institution will add to Iraq is the new technology that it can introduce on the basis of providing financial services.
He continued, "Financial services are not limited to technological luxury, but have become one of the basics of financial institutions, to improve their services and digital transformation, to meet customers' needs around the clock."
He pointed out that "the Bank of Jordan seeks, through its presence in Iraq, to meet the needs of its customers, whether Iraqis or Jordanians, by exploiting its network and electronic systems in the region of the Arab countries in which it is located."
He stated, “The Bank of Jordan is present in many Arab countries, including Iraq, Palestine, Bahrain, and Syria, and now we are in the process of opening a branch in the Kingdom of Saudi Arabia. Therefore, we see that there is integration and trade exchange between these countries in an electronic system, where the customer or investor can view... This system and the exchange of his money very easily,” stressing that “there are continuous efforts to improve the system existing at the Bank of Jordan.”
Hammad stressed that "the Bank of Jordan can implement the electronic system in Iraq."
He pointed out that "there is joint cooperation with the Iraqi banking sector and the Governor of the Central Bank, and previous conferences were held between the Jordanian banking sector and the Iraqi banking sector, in order to improve the infrastructure and electronic services in Iraq."
He continued: "There were great joint efforts to provide support through existing expertise in Jordan, such as (Kalak) services, paying electronic bills, providing all requirements, and other services."
He pointed out that "the Central Bank of Iraq is making great efforts to develop the banking sector in Iraq, as it has taken a serious and strong approach to modify the system, and I believe that they are moving at a very good speed to shorten the time gap, to reach the ranks of developed countries with these services."
He believes that “one of the large, promising markets is the trade exchange between Iraq and Jordan, due to the geographical proximity between the two countries, so shipping and transportation operations are very easy, and this is what we seek in economic integration, which could generate a nucleus for investments that can compete in the Arab region.” link
"RV UPDATE" BY WOLVERINE, 30 JAN
Bearded PatriotUSA
Telegram post
1/30/24
Forwarded from Wolverine:
I know I’ve been told to be quiet but I’m allowed to share things are have already been discussed before and allow me to refresh your memory.
The paymasters have received the money days ago.
1% will be paid out this week (please stay grounded).
This was confirmed.
Bonds will be paid out first which then triggers the 4B to go.
All this needs to go before the end of this month.
Just stay grounded and have faith that this is coming.
God bless,
Wolverine
Senior US sanctions official in Baghdad to curb dollar smuggling to Iran, 30 JAN
Senior US sanctions official in Baghdad to curb dollar smuggling to Iran
Washington seeks to dry up the sources of Iran’s funding for the militias
Nelson discussed ways to protect Iraqi and international financial systems from criminal, corrupt and terrorist bodies.
Nelson meets with senior officials led by Mohammed Shia Al-Sudani
WASHINGTON – A senior official in the US Treasury Department in Iraq discussed the file of Iran’s evasion of sanctions and held the financial sector in the country to be compatible with international standards, referring to efforts to curb the smuggling of the dollar to Tehran, as this comes amid great tension in the region, especially the killing of American soldiers near the Jordanian-Syrian border as a result of attacks believed to be from militias loyal to Tehran.
A Treasury Undersecretary for Terrorism and Financial Intelligence Brian Nelson, the ministry’s top sanctions official, traveled to Iraq on a visit that began on Sunday and lasted until Monday, where he met with senior Iraqi officials, including Prime Minister Mohammed Shia al-Sudani, as part of ongoing work to combat illicit financing, a U.S. State Department spokesman said.
He added that during the visit, Nelson discussed with his counterparts ways to protect Iraqi and international financial systems from criminal, corrupt and terrorist actors, noting that Washington will cooperate to protect the Iraqi financial sector “from (any) abuse by Iran or any other evil party.”
The Iraqi government came to power with the support of powerful Iran-backed parties and armed factions with interests in Iraq’s largely informal economy as the United States revealed that Tehran sought to evade sanctions by smuggling the dollar from Iraq through a complex financial system controlled by political forces and militias loyal to the Iranian regime.
“From the perspective of the Treasury Department, I think we are really satisfied with the transparency tools put in place by the Central Bank of Iraq to identify illicit financial flows that pass through the Iraqi financial system,” Nelson said Monday. But he warned that Iraq should always put the risks of sanctions into its eyes.
Iraq must always put the risks of sanctions to its eyes
“We will continue to monitor Iraqi individuals, companies and banks that operate for or on behalf of groups designated by the United States as terrorist,” he added.
The United States on Monday designated Al-Huda Bank Iraq as a foreign financial institution of major concern regarding money laundering and accused it of acting as a conduit to finance terrorism.
The Treasury Department’s Financial Crime Service also proposed a decision to separate the bank from the U.S. financial system. Washington has also imposed sanctions on the bank’s owner.
“Bank Al-Huda and its foreign sponsors, including Iran and its agents, are diverting funds that could have supported the legitimate business and economic aspirations of the Iraqi people,” the Treasury said in a statement. These bad actors fuel violence that threatens Iraq’s stability and the lives of Americans and Iraqis alike.”
Nelson’s visit to Iraq comes as the United States seeks to crack down on a group of Iranian-backed proxies at a time when there are attacks on Israeli and U.S. targets and other interests, given the situation in Gaza, Iraq, Lebanon, Syria and Yemen.
Washington asked Iraq to address the ongoing risks of the misuse of the US currency in Iraqi commercial banks, and in July it banned 14 Iraqi banks from conducting dollar transactions in a major campaign targeting the illegal use of the dollar.
With reserves of more than $100 billion in the United States, Iraq relies heavily on Washington’s goodwill to ensure that oil revenues and money are not subject to U.S. sanctions.
Iraq’s central bank governor said Iraq is committed to implementing stricter financial regulations and combating dollar smuggling. Nelson is set to travel from Iraq to the UAE where Washington has also expressed concerns about sanctions evasion.
ZIM BOND NOTES: Walkaway Rate vs. Humanitarian Rate BY BONNIE, 30 JAN
Walkaway Rate vs.Humanitarian Rate
Walkaway Rate vs. Humanitarian Rate
$30-50M
- Little to no oversight without a project
- Spend/bless your share as you please
$30-50M + Project Funding (Potentially Unlimited)
- Some help/oversight with a project
- Spend/bless your share as you please
- Oversight on the remaining funds
~ Submitted by Bonnie via email
The Central Bank of Iraq reveals the reason for America imposing sanctions on Al-Huda Bank, 30 JAN
The Central Bank of Iraq reveals the reason for America imposing sanctions on Al-Huda Bank
Shafaq News/ The Central Bank of Iraq revealed, on Tuesday, that the US Treasury Department had imposed sanctions on the Iraqi “Al-Huda” Bank, attributing the reason to its activities in 2022.
The Central Bank of Iraq stated in a statement today that the bank did not participate in the foreign currency buying and selling window during the year 2023, stressing that it continues to provide its banking services without dealing in the US dollar and is allowed to deal in other foreign currencies.
Yesterday, Monday, the US Treasury Department included the Iraqi Al-Huda Bank on the sanctions list, as it is a source of major concern regarding money laundering because it “acts as a channel for financing terrorism by Iran.”
A US Treasury statement, viewed by Shafaq News Agency, said, “Al-Huda Bank, an Iraqi bank that acts as a channel for financing terrorism, as a foreign financial institution raises a major concern about money laundering,” noting that “the Financial Crimes Enforcement Network (FinCEN) proposed a rule… It would separate the bank from the US financial system by prohibiting local financial institutions and agencies from opening or maintaining a correspondent account for or on behalf of Al Huda Bank, in addition to imposing sanctions on the bank’s owner by the Office of Foreign Assets Control (OFAC).
According to Treasury, Al-Huda Bank, and its foreign sponsors, including Iran and its proxy groups, are diverting funds that could support the legitimate businesses and economic aspirations of the Iraqi people, and these bad actors are fueling violence that threatens the stability of Iraq and the lives of American and Iraqi citizens alike.
According to the US Treasury statement, Al-Huda Bank has for years exploited its access to US dollars to support designated foreign terrorist organizations including the Iranian Revolutionary Guard, as well as Iraqi militia groups allied with Iran including Kataib Hezbollah and Asaib Ahl al-Haq.
The statement indicated, “The Chairman of the Board of Directors of Al-Huda Bank is complicit in Al-Huda Bank’s illicit financial activities, including money laundering through front companies that hide the true nature of the parties involved in the illicit transactions, which ultimately enables the financing of terrorism.”
shafaq.com
