Mnt Goat
Article: "THE DOLLAR MARKET IS ON “ONE LEG”.. A NEW MECHANISM AND THE EXCHANGE RATE IS THREATENED!"
... they are just telling us that there is a process in place to change-out the dinar to the lower denominations and effect the rate as part of this process without causing havoc. A higher, sudden RV, if not done appropriately would cause havoc
Good news for Kurdistan employees.. Your salaries for October 2 are on the way
DINARLAND UPDATES
Here are the latest updates and insights surrounding currency revaluation, particularly the Iraqi Dinar.
There are many updates from multiple intel sources regarding the Iraq Dinar and its potential revaluation.
Key highlights include reports of a possible new exchange rate of $3.92, the ongoing transition to digital banking in Iraq, and significant changes in Iraq’s banking operations that suggest a possible end to the previous auction system. Various experts express optimism about Iraq’s economic future, citing a strong oil sector and the introduction of non-oil revenue streams.
🔍 Market Speculation and Contractor Reports: The discussion around the potential rate of $3.92 for the Iraqi Dinar reflects ongoing speculation in the market. While these figures are based on intel from contractors, they highlight the uncertainty and fluidity of currency valuations in Iraq. This speculative environment requires investors to remain cautious and conduct thorough due diligence before making financial commitments.
💡 Digital Banking as a Catalyst for Change: The transition to digital banking could revolutionize Iraq’s financial landscape. By improving transparency and reducing corruption risks, digital banking can enhance the efficiency of monetary transactions and foster a more secure economic environment. This evolution may also attract foreign investment, as investors often seek stable and transparent banking systems.
📞 Increased Engagement from Financial Institutions: The reported outreach by banks to individuals, regardless of their account balance, signifies a shift in the financial landscape of Iraq. This proactive engagement suggests that financial institutions anticipate a surge in wealth management opportunities, driven by potential currency revaluation and economic growth. It also indicates a growing recognition of the importance of personal finance management in the region.
⏳ Critical Timing for Currency Adjustment: The second half of December is identified as a crucial period for Iraq’s economic practices. The suspension of credit and lending practices is a strategic move that may set the stage for a currency revaluation. This timing is essential as it aligns with broader economic reforms aimed at stabilizing and enhancing the value of the Iraqi Dinar.
🌱 Broader Economic Diversification Efforts: The mention of non-oil revenues contributing significantly to Iraq’s budget indicates a shift towards economic diversification. By reducing reliance on oil, Iraq aims to create a more resilient economy that can withstand fluctuations in global oil prices. This diversification is crucial for sustainable economic growth and may improve the overall stability of the Iraqi Dinar.
🌐 Strategic Infrastructure Projects: The Development Road Project is highlighted as a vital initiative that could strengthen Iraq’s economic ties with regional markets. This project not only aims to enhance trade routes but also positions Iraq as a commercial hub that can leverage its natural resources effectively. Such initiatives are essential for long-term economic stability and growth.
📊 Potential for International Currency Pairing: The introduction of foreign currencies for transactions suggests a move towards establishing a more robust international presence for the Iraqi Dinar. By pairing the Dinar with other currencies, Iraq can enhance its global trade capabilities and improve its economic standing internationally. This shift may also pave the way for future currency stabilization and growth.
Al-Sudani Meets the Chairman of the National Commission for Accountability and Justice
MarkZ
[via PDK]
Article: “An expected rise in the dollar: temporary shock awaits the Iraqi market”
this is talking about the end of the auctions...One thing that will solve all their worries is an upward reinstatement or revaluation close or higher than the US dollar.
Article: “Iraq Stock Exchange first with the volume of trading between Arab Markets”
it only launched a year or so ago…but already it’s the largest trading market in the middle east. This one is huge.
They are setting themselves up as a regional leader - a world leader…and what is going to be important?
They need a currency that matches the region. That rate bar is high when you look at Kuwait and Bahrain and ll of the other currencies values over there.
Iraq advances digital transformation to boost financial efficiency and economic diversification
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Television is reshowing the speech of Sudani from the other day when he said citizens want something realistic and they are tired of promises.
FRANK: The fact they reshowed it is extremely important. Sudani is going out almost on a daily basis telling the Iraqi citizens, I got you! I told you I'm going to give you purchasing power. I got you.
CBI Governor: We Issued Regulations for Licensing Digital Banks in Iraq
Baghdad – INA
The Governor of the Central Bank of Iraq-CBI, Ali Al-Alaq, announced today, Tuesday, the launch of strategic projects to support digital transformation, highlighting the issuance of regulations for licensing digital banks in Iraq.
Speaking at the Fourth Annual International Scientific Conference, titled "Digital Financial Services - Challenges of Reality and Future Prospects" attended by The reporter of Iraqi News Agency (INA), Al-Alaq stated, “The conference was organized in partnership between the Financial and Accounting Center and several universities and academic institutions. It aims to discuss advancements in digital financial services, the challenges faced, and to anticipate the future of this vital sector.”
He added, “Since the late 18th century, the world has witnessed four major inventions that reshaped its course. These include the steam engine, electricity and mass production, the mid-20th century revolution in electronics and information technology, and, since 2000, developments centered on artificial intelligence, the internet, robotics, and big data.”
Al-Alaq emphasized that "the Central Bank has prioritized digital transformation as one of its core objectives within its third strategic plan (2014–2026). This plan seeks to enhance banking efficiency, improve financial performance, and meet customer needs in light of rapid technological advancements."
He noted that the Central Bank has taken significant strides to support digital transformation by upgrading technological infrastructure and issuing regulations that enhance financial inclusion. Strategic initiatives have been launched, including the Immediate Payments Project, local card systems, unified payment gateways, and, notably, issuing regulations for licensing digital banks in Iraq, all while ensuring cybersecurity and addressing risks associated with this shift.
The Governor stressed the importance of the conference's goals, which include identifying current challenges in digital financial services, forecasting future trends, fostering innovation, and promoting collaboration among stakeholders. “These goals underscore the pressing need for joint efforts,” he remarked.
Al-Alaq also highlighted cybersecurity as a critical challenge, explaining that “the Central Bank has launched projects to strengthen cybersecurity by developing tools and systems for its Cybersecurity Management Center and adopting advanced approaches to safeguard the bank and the broader banking sector.”
He concluded by underscoring the growing role of artificial intelligence in digitizing financial services.
“AI opens new horizons for innovation and service improvement. At the Central Bank of Iraq, we believe financial technology is shaping the future of the financial sector. This necessitates concerted efforts to prepare national cadres capable of understanding and advancing these technologies,”
He reaffirmed the Central Bank's commitment to driving digital financial transformation while promoting innovation and sustainability in the financial sector.
SANDY INGRAM CC HIGHLIGHTS NOTES
In this video, the discussion centers around the complex dynamics of Iraq’s current economic situation, particularly in relation to U.S. travel advisories and foreign investment.
It highlights the challenges posed by the U.S. State Department’s classification of Iraq as a Level Four “Do Not Travel” country, which affects the influx of independent investment.
The talk elaborates on how this travel warning restricts U.S. investors, despite the potential profitability of investing in Iraq’s market. The speaker points out that while wealthy investors might navigate security issues to invest, the overall climate remains challenging for broader investment opportunities.
The interconnectedness of Iraq’s currency revaluation and the travel advisory is emphasized, suggesting that a safer Iraq could lead to increased foreign investment, thereby stabilizing the currency. However, the video also notes that Iraq has demonstrated resilience without substantial Western financial involvement, although this limits its growth potential. The recent increase in the Iraqi dinar’s exchange rate against the U.S. dollar on December 25th is mentioned as a positive indicator amidst these challenges.
🔍 Travel Warnings Impact Investment: The U.S. State Department’s Level Four travel advisory plays a critical role in deterring foreign investment in Iraq. This classification not only affects public perception but also significantly limits the ability of U.S. investors to engage with the Iraqi market. The advisory creates a perception of high risk, which can deter even those with the resources to invest safely. The reality is that many potential investors might be interested in the opportunities available, but the travel restrictions create substantial barriers.
🌟 Wealthy Investors vs. General Investors: While it is true that some wealthy investors may navigate the risks associated with travel to Iraq, the broader investment landscape remains severely restricted. Most independent investors are deterred by the potential dangers and the logistical challenges posed by the travel advisory. This disparity highlights the need for a change in the security situation for significant capital to flow into Iraq, which would otherwise enhance its economic prospects.
📉 Economic Holding Pattern: Iraq seems to be in a “holding pattern,” where the economy is not able to reach its full potential due to the lack of foreign investments and ongoing security threats. This stagnation is not just a surface issue but is deeply rooted in the geopolitical climate and the internal stability of the country. The inability to attract substantial foreign investment stifles innovation and economic growth, leading to a cycle of underdevelopment.
💡 Global Financial Interactions are Crucial: The video emphasizes that Iraq’s economy, despite some resilience, cannot thrive without global financial interactions. The limited involvement of Western funds has been a double-edged sword; while it may foster a sense of independence, it also restricts essential capital inflow that could propel the economy forward. The absence of these interactions creates a ceiling for economic growth, stunting potential developments in various sectors.
📈 Positive Currency Movement: The recent uptick in the Iraqi dinar’s exchange rate against the U.S. dollar is a noteworthy development that suggests some level of economic improvement. While this could indicate a shift towards stability, it is essential to understand the broader context in which this improvement occurs. It may reflect underlying changes in the market or investor sentiment but does not negate the need for structural changes to ensure sustained growth.
🔄 Interconnected Dynamics: The speaker argues that the removal of Iraq from the Level Four travel advisory list is intricately linked to the country’s economic health and stability. A safer Iraq, free from security threats, would likely encourage foreign investments, leading to improved economic conditions. This interconnectedness suggests that addressing security challenges is necessary to unlock Iraq’s economic potential and facilitate a favorable investment climate.
🔑 Long-Term Economic Strategy Needed: For Iraq to achieve long-term economic stability and growth, a comprehensive strategy that addresses both security and investment climate is essential. This would involve not only improving internal security but also fostering a positive environment for foreign investors. A strategic approach could potentially ease travel advisories, enhance the confidence of investors, and ultimately lead to a more robust economic framework capable of attracting diverse investments.
In conclusion, the video sheds light on the multifaceted challenges faced by Iraq as it navigates its economic landscape amidst travel warnings and security concerns. The interconnectedness of these issues suggests that a holistic approach is necessary for Iraq to realize its economic potential fully.
Economy News – Baghdad
The Parliamentary Finance Committee revealed the number of employees, retirees and beneficiaries of social welfare, stressing that their salaries are fully secured for the next year, with no intention to change the dollar exchange rate.
The member of the committee, Moeen Al-Kazimi, stressed “the need to increase non-oil revenues to alleviate the burden on the general budget.”
Al-Kazimi stressed that “the government is working to enhance revenues from non-oil sources such as taxes, customs, the Information and Communications Authority, and winning companies in state departments, in addition to the collection of water, electricity and other services.”
He pointed out that “non-oil revenues can reach 30 trillion dinars in 2025, in addition to 120 trillion dinars of oil revenues, which makes the total revenues sufficient to secure the salaries of employees of 4.2 million employees, and the salaries of retirees, who number up to 3.5 million retirees,” pointing out that “allocations for these salaries amounted to 65 trillion dinars during 2024, and it is expected not to witness a significant increase during the next year.”
Al-Kazimi also explained that “the beneficiaries of social welfare will reach 5 million beneficiaries,” stressing “the importance of following a rational fiscal policy to increase non-oil revenues and ensure financial stability, while keeping the dollar exchange rate unchanged.”
MAJEED
Yesterday they said they will pay the salary either Thursday or Saturday Middle Eastern time Saturday morning in the Middle East Forex would be closed so they wouldn’t pay them on the new rate That means they should do it today at 5 PM EST marking it as the beginning of Sydney’s Thursday trading session remember, they said yesterday: “ the amount of salary will be sent for Kurdistan is undetermined” Which means it’s based on the new rate that’s why they don’t want to tell you how much they would send because you would know the rate
Expert diagnoses two reasons behind the rise of the dollar against the dinar in Iraq
The economic and financial expert, Abdul Rahman Al-Mashhadani, attributed, on Wednesday, the reasons for the rise of the dollar against the Iraqi dinar to the rumor of the holidays and New Year's Day.
Al-Mashhadani said in an interview with Shafaq News Agency, "The promotion of stopping the platform is a major reason for the rise in the price of the dollar," indicating that "this rumor that spread showed that foreign transfers will stop."
He explained that "this rumor is false, as 97% of the transfers made through the window were transferred to banks that have correspondent banks in a way that enhances the balances. Also, the Christmas holiday is another reason for the demand for the dollar, as there is a lot of travel during these days."
Al-Mashhadani expected that "the situation will stabilize and the dollar will return to its normal status after the holiday."
The price of the dollar rose gradually in local markets, where it recorded 152,300 dinars for every 100 dollars in the Al-Kifah and Al-Harithiya stock exchanges, and 152,200 dinars for every 100 dollars in Erbil, the capital of the Kurdistan Region. link
Militia Man
Article quote: "Iraq has gotten rid of the burden of foreign debts for the first time which had shackled it economically ...
What remains of its debts to international parties constitutes less than $9 billion that will be paid between now and the year 2028." ; Iraq's going to have a lot of money.
If you're going to be a creditor, people are going to be coming to you for money and Iraq is going to have a lot of it. To be fair, I think a lot of us are going to have a few dollar too because of it.
Exclusive: HTS not covered by Iraq's Amnesty Law, expert confirms
Shafaq News/ On Monday, legal expert Mohammad Jumaa revealed whether Ahmad al-Sharaa, known as Abu Mohammed al-Julani, the leader of Hayat Tahrir al-Sham (HTS), could be covered by the General Amnesty Law that the Iraqi parliament plans to enact.
Jumaa told Shafaq News that "the general amnesty applies only to Iraqis and does not extend to foreigners, regardless of the crime committed or the charges against them. Ahmad al-Sharaa is Syrian, not Iraqi, and therefore is not subject to the provisions of the General Amnesty Law."
He indicated that the arrest warrant issued by the Iraqi judiciary presents a dilemma for Iraq's security forces in case al-Sharaa holds an official position in the new Syrian government and wishes to visit Iraq, adding, “If al-Sharaa becomes the president of Syria, he will be granted diplomatic immunity and cannot be arrested.”
Earlier, an informed source told Shafaq News that "when al-Sharaa was in Iraq as a member of al-Qaeda, he was arrested by the US forces between 2007 and 2008.” However, no Iraqi court issued a ruling against him at the time.
Years later, a subsequent arrest warrant was issued against him without a court ruling, after prisoners confessed to various terrorist charges against al-Julani, the sources explained.
On Thursday, the HTS leader, denied having previously participated in sectarian battles in Iraq, emphasizing that his group, severed its ties with al-Qaeda, and does not have connections to any external organizations or entities.
Notably, during an American delegation's visit to Damascus last week, Barbara Leaf, the United States Assistant Secretary of State for Near Eastern Affairs, revealed that she had met with Syria's new leadership, including al-Sharaaa, and the US had revoked the $10 million reward for information on him.
Observers noted that a search of the US Rewards for Justice website, which lists rewards for information on "wanted terrorists," no longer displays a page for al-Sharaaa, though HTS itself remains listed.
Hayat Tahrir al-Sham originated from Jabhat al-Nusra, al-Qaeda's Syrian affiliate, formed during the early years of the conflict. It severed public ties with al-Qaeda in 2016, rebranding itself as an independent Salafi-jihadist organization.
HTS, classified as a terrorist organization by the US, Turkiye, the United Nations, and other Western nations, has emerged as a dominant player in Syria following the fall of Bashar al-Assad’s regime.
As of now, no country has officially removed Hayat Tahrir al-Sham (HTS) from their list of designated terrorist organizations. However, there are ongoing discussions and considerations in some countries like France, the UK, Turkiye, and Canada.
About the General Amnesty Law
The General Amnesty Law, first enacted in 2008, has become a focal point of Sunni political demands for national reconciliation. The 2016 revision aimed to increase Sunni inclusion in Iraq’s political framework but faced resistance from Shia factions, concerned it could enable the release of convicted terrorists.
Proposed amendments now exclude individuals convicted of terrorism and serious crimes, seeking compromise. However, the law remains divisive, as Shia leaders prioritize national security, while Sunni representatives view it as critical for peace and political balance.
Jeff The rate change is extremely close...It's ridiculously close right now. It's amazingly close. When the rate does ch...