After The Electronic Platform Stopped...An Answer To Questions From Iraqi Circles About The New Dollar Mechanism, 5 jan

 After The Electronic Platform Stopped...An Answer To Questions From Iraqi Circles About The New Dollar Mechanism

Economy   2025-01-02 | 4,898 views  citizens asked Many Iraqi questions about the new mechanism for trading the dollar in Iraq and the method of withdrawing or buying it after the official cessation of the electronic platform.

 Governor of the Central Bank, Ammar Khalaf, said Deputy yesterday,   “The working mechanism of the electronic platform related to foreign transfers has stopped working on it, but   financing foreign trade continues through correspondent banks according to various mechanisms that are equivalent to what is done in countries of the world.”

Many citizens asked about the platform’s news, which Alsumaria News published on Facebook, about the

      electronic platform and its work,

     what will happen to the dollar, and

     whether Iraq will witness a new rise in currency exchange rates.

 One of the citizens said through the comment feature:

 “What is the purpose of the electronic platform? Can someone explain,” while another responded by saying, “The siege will return to Iraq and the exchange rate will be at least 250 thousand Iraqi dinars for 100 dollars.”

 Another wondered about "the continued arrival of foreign remittances to Iraq and the giving of currency to travelers," while another pointed out that "unemployment will return, food prices will double 4 times above normal, and famine will return to Iraq."

 Others praised the decision to stop the electronic platform, considering it “an effective government achievement that will benefit one after another and a transformation process that enhances the economic role and prepares for investment opportunities with full confidence, and that the

 government is playing a supervisory role over markets and money exchanges, and  the dinar is dealt with only to raise the value of the Iraqi dinar.”

 Another pointed out that “the platform was a front for stealing the dollar, and  therefore imposing censorship through the financial transfer through the bank will contribute to balancing the market and controlling the rise of the dollar,” and another supported him by saying that “this step may have several reasons, such as:

 1- Controlling the dollar exchange rate: An attempt to stabilize the price of the dollar against the Iraqi dinar by limiting the flow of the dollar. uncontrolled

 2- Preventing dollar smuggling: If there are indications that the dollar is being used in smuggling operations or that there is an inflation in demand for it due to illegal purposes.

 3- Strengthening the local economy: Reducing dependence on the dollar and supporting the local currency by reducing the circulation of the dollar in the markets.

Possible Outcomes:

 Dollar prices rise on the black market if there are no alternatives to meet demand.

 Impact on merchants and companies that depend on the dollar for imports, which may lead to higher prices for imported goods.

 Tightening financial oversight to try to prevent fraud and circumvention of policies. Therefore, the effects will depend on the way this decision is implemented and the extent to which there are alternative plans to provide dollars to the commercial and service sector.” It should be noted that

"Travelers' dollar"

  “the Central Bank clarified that granting dollars to travelers continues at airports according to the approved mechanism, which is considered the best in restricting the traveler’s access to dollars,” noting that

 “this decision is part of a series of reforms aimed at facilitating financial procedures and stimulating the economy.”

 What Is The “Electronic Platform”

 The electronic platform for money transfers is a mechanism that has been adopted to

ensure the regulation of foreign cash transfers and

     limit manipulation of exchange rates.

 It works to document

     commercial operations and the

     transfer of funds by banks and financial companies,

 ensuring more effective control over hard currency flows inside and outside the country.

TIDBIT FROM BRUCE, 5 JAN

 Bruce  

 [via WiserNow]   Iraq has...brought a new in country rate...We heard about this New Year's Day...in Iraq, they're removing...the higher denominations, the 25k dinar notes, the 10k, the 5k, the 1k...the high three zero dinar notes...  

Now those are notes that we have that we're going to be able to exchange at a very high rate, very high...We're getting huge rates on the dinar that we have...but in Iraq they're... exchanging those with 25 dinar, 10 dinar, 5 dinar, 1 dinar, in other words, without the three zeros...lower denominations...

they're making those announcements on television in Iraq...We look like we could get started... They're calling it the weekend ...as late as Sunday, we should be getting our notifications...and we should be able to get started with our exchanges.

MAJEED: The CBI will be back on January 7 after the reevaluation happens ! @DINARREVALUATION #iqd

 

Expert: Jordanian and Gulf banks control the Iraqi banking sector and push it towards collapse, 5 JAN

 Expert: Jordanian and Gulf banks control the Iraqi banking sector and push it towards collapse

 / Special..
Economic expert Mustafa Akram Hantoush confirmed today, Saturday, that the banking system is going through a major crisis, pointing out that the Gulf and Jordanian banks have come to control the cash and dollar sector inside Iraq.

Hantoush said in a statement to Al-Maalouma Agency, “The Iraqi banking system is almost non-existent at the present time, as four or five Gulf and Jordanian banks control the movement of money.”

He added that “four Jordanian banks submitted applications to enter the Iraqi market, two of which succeeded in operating, while two others, namely Al-Ittihad and Al-Iskan, are still under study.”

He explaine d that “this situation reinforces the dominance of these banks over the dollar, while local banks are now facing major challenges, as some of them remain in the market, while others are forced to seek agreements with Jordanian and Gulf banks in order to continue operating,” adding that “those who do not succeed in reaching agreements with these banks will move towards merging or exiting the market.”

He pointed out that “the banking system was previously suffering from a weak structure, and today it is in a state of complete collapse,” stressing that “it has become very difficult to obtain loans in Iraq easily, and whoever succeeds in doing so needs relationships and mediation, which reflects the state of stagnation and paralysis in the Iraqi banking system.”

It is noteworthy that the United States imposed sanctions on 34 Iraqi banks in an attempt to restrict the Iraqi economy, which opens the way for five Jordanian and Gulf banks to enter the Iraqi market, with the aim of completely controlling the economy amid the silence of the Iraqi government.

almaalomah.me

MILITIAMAN CC HIGHLIGHTS NOTES, 5 JAN

 MILITIAMAN CC HIGHLIGHTS NOTES

Chapter: The Future of Iraq’s Currency and Economic Landscape

Introduction

The transformation of Iraq’s economic and financial landscape is a pivotal topic in contemporary discussions regarding international trade and currency valuation. Central to this transformation is the transition from the traditional dollar auctions to a novel monetary reinforcement mechanism that aims to stabilize the Iraqi dinar while fostering global integration. 

This chapter delves into the implications of these changes for Iraq, exploring the role of the Central Bank of Iraq, the evolution of international banking relationships, and the anticipated impacts on inflation and trade. Essential vocabulary such as global integration, correspondent banks, and electronic platforms will be emphasized to illustrate the complexity of these developments.

The Shift from Dollar Auctions to a New Monetary Mechanism

Historically, Iraq relied heavily on dollar auctions to facilitate trade and stabilize its economy, a practice initiated by the Central Bank of Iraq around 2003. However, recent announcements indicate that this system is being phased out in favor of a more efficient electronic monetary reinforcement mechanism. This shift is not merely procedural but represents a strategic move towards integrating Iraq into the global financial system.

• The Deputy Governor of the Central Bank confirmed the initiation of this electronic system, which is expected to enhance the efficiency of external transfers and align Iraq’s financial operations with international standards.
• The new mechanism allows Iraqi banks to engage directly with correspondent banks for foreign currency transactions, a significant step towards reducing dependence on US dollars.

Enhancing International Trade Relations

The integration of Iraq into the global economy is further supported by the establishment of electronic platforms that connect with various international entities, including the World Customs Organization and the World Trade Organization. These relationships are integral to Iraq’s strategy to streamline its international trade operations.

• The implementation of an electronic platform called the ice cuta system aims to reduce corruption and improve administrative efficiency.
• The Central Bank’s transition to this system is seen as a move to enhance Iraq’s appeal for foreign investment, thereby boosting international financial confidence.

By aligning with international standards and engaging in direct transactions through correspondent banks, Iraq is poised to facilitate smoother trade relationships with other nations, particularly in the Middle East.

The Role of Correspondent Banks

Correspondent banks play a crucial role in this new economic framework, serving as intermediaries for foreign currency transactions. The transition to using these banks signifies a departure from the previously centralized approach of dollar.

Withdrawals and deposits suspended for four days at all Iraqi banks!! @DINARREVALUATION #iraqidinar

 

Government advisor indicates significant growth in non-oil GDP in 2024, 5 JAN

 Government advisor indicates significant growth in non-oil GDP in 2024

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Saturday, that the growth rates of the non-oil gross domestic product will rise in an unprecedented manner during the year 2024, while indicating that the government program has succeeded in controlling financial diversity in the general budget and the national economy in general.

Saleh told the official agency that “the high growth rates of non-oil GDP were accompanied by an important role for monetary policy and its role in regulating the monetary sector under Central Bank Law No. 56 of 2004,” adding that “this monetary policy is sound and has not strayed from the circle of consultation and cooperation with the fiscal policy and the government economy, which still dominates 65% of GDP and 98% of foreign exchange flows.”

He pointed out that “the financial sector contributed, through the dissemination of some developmental government borrowing tools, and the sources of formation of those foreign reserves from oil revenues, to building the monetary base, and then building the money supply in the country.”

The Prime Minister’s financial advisor expected “the continuation of the calm approach to financial policy during 2025, which contributed to deepening the circle of consultation and close cooperation with the Central Bank and its monetary policy in regulating the liquidity of the general budget and the stability of the macroeconomy without intersection or isolation,” noting that “this matter enhanced the success of the country’s economic policy during 2024 in international and regional circumstances that were extremely complex.”

almaalomah.me

BROTHERS TECHNOLOGY & MAJEED : " External Value In the Iraqi Dinar is the key" , 5 JAN

BROTHERS TECHNOLOGY 

When Reading A Article as this One you truly have to UNDERSTAND AND RECALL EVERYTHING SAID IN THE PAST TO GRASP THE TRUE MEANING........

I wasn't going to share for fear of unnecessary questions, however I was tagged so I will highlight the important points. 

External Value In the Iraqi Dinar is the key give away................

--

Majeed

You know what brother I'll play along with the numbers

1320 IQD / $100

That gives you 13.20 IQD for each one dollar Meaning Iraq playing it in this article as the opposite

Meaning $13.20 for each one Iraqi dinar.

The same number I got from their budget.

And it is the same number I got when I compared their old rate $3.22 back in the 80s... that $3.22 in the 80s equals today as $12.33

JEFF: Today's news suggests the currency auctions have officially ended!! @DINARREVALUATION

 

Abu Saeeda: America seeks to establish its bases inside Iraq through agreements with Baghdad, 4 JAN

 Abu Saeeda: America seeks to establish its bases inside Iraq through agreements with Baghdad

The head of the Wujoud Movement, Muhammad Abu Sa’ida, confirmed on Friday that America seeks to establish its bases inside Iraq through agreements that Washington concludes with Baghdad in order to guarantee the free movement of its forces without any accountability and the stability of its forces inside the bases and establish them as American territory similar to embassies.

Abu Saeeda told Al-Maalouma, “America wants to leave Iraq while maintaining its military bases on Iraqi soil, provided that there is a security division and an agreement that allows American forces to carry out their work without accountability or punishment, with the Iraqi side not entering those bases, i.e. making them American territory according to diplomatic agreements and dealing with them in a manner similar to embassies.”

He added, “America seeks to establish its bases inside Iraq and obtain guarantees that its military presence inside those bases will not be affected, according to agreements concluded between Baghdad and Washington.”

He said, “If America does not achieve its goal of establishing fixed bases for itself in Iraq, it will consider the federal government responsible for the country and impose its guardianship over it and consider Iraq the 51st state.”

almaalomah.me

MAJEED: THEY HAVE ALREADY ADJUSTED THE PAYROLL ON THE NEW RATE!!, 4 JAN

 MAJEED

🚀This guy is from Baghdad and they told him the salary on January 5 

Kurdistan was told that they will be paid on January 5 

They have already adjusted the payroll on the new rate 

Because yesterday they said we have to pay from 2025 budget 

And 2025 budget doesn’t have a lot of money so they have to re-value to make every dinar  valuable.

MAJEED: THEY HAVE ALREADY ADJUSTED THE PAYROLL ON THE NEW RATE!!, 4 JAN

 MAJEED

This guy is from Baghdad and they told him the salary on January 5 Kurdistan was told that they will be paid on January 5 They have already adjusted the payroll on the new rate Because yesterday they said we have to pay from 2025 budget And 2025 budget doesn’t have a lot of money so they have to re-value to make every dinar valuable. 

FIREFLY: New Money Exchange Centers! WE WILL MUST RETURN THE 3 ZEROS NOTES! #iqd #iraqidinar

 

2024 ended without what was planned.. Will Iraq succeed in escaping the “oil curse”?, 4 JAN

 2024 ended without what was planned.. Will Iraq succeed in escaping the “oil curse”?

Shafaq News/ Iraq witnessed a significant increase in non-oil revenues at the end of last year 2024, as it reached 12% of total public revenues compared to non-oil revenues for the year 2023, while economic experts believe that this number is less than the planned target within the government’s plans.

In this regard, economic expert Nabil Al-Marsoumi told Shafaq News Agency, “The total non-oil revenues achieved in Iraq until last October amounted to 14.438 trillion dinars, representing 12% of total public revenues, compared to 7% in 2023,” noting that “the plan was to achieve 27 trillion dinars in non-oil revenues, representing 20% ​​of public revenues, as Iraq was supposed to achieve non-oil revenues for the year 2024 worth 27 trillion, and this number has not been achieved so far, and almost half of it has been achieved.”

He stressed that “Al-Sudani’s plan is to achieve non-oil revenues of 20% of public revenues, which has not been achieved either, as only 12% has been achieved so far, slightly exceeding half,” indicating that “the increase in the percentage of non-oil revenues, which consists of fees, taxes, profits of public companies, and other financial matters, is important to the Iraqi economy and lies in getting rid of the dependence on oil revenues.”

Al-Marsoumi continued, “The importance of Iraq reaching the 20% rate that Al-Sudani called for is to make Iraq not rely on oil revenues because they are volatile due to prices,” stressing that “the biggest challenge facing Iraq in increasing non-oil revenues is the lack of diversification of the Iraqi economy. In other words, the government must increase agricultural and industrial activities and other activities in the gross domestic product, as today more than half of the GDP is contributed by one commodity, which is oil, and diversification in production means that we create an internal economic process as well as job opportunities for citizens.”

He added, “Iraq, to ​​this day, does not have a clear development plan enacted by law. When there is diversity in production, we need a strict and efficient tax system capable of transferring tax money to the public treasury, and we are in fact very far from this matter at the present time.”

Add to “double”

In turn, the economic expert, Mustafa Hantoush, believes that the most prominent thing that led to the increase in non-oil revenues in Iraq during the year 2024 is the success of the United Nations (Scud) program, as many containers now come through (regular customs) after they used to enter randomly, stressing that this step led to an increase in the revenues of the Customs and Ports Authority to (double).

Hantoush told Shafak News Agency, “There are also some self-financing companies (profitable) that have led to an increase in non-oil revenue rates, as the state has withdrawn part of the money from those companies (their revenues) and returned it to them when needed.”

He explained that “the challenges facing non-oil revenues in Iraq are the absence of only two factors, the first: the regulatory laws that allow the state to seize all revenues for all parties, the second: the electronic factor, in other words today the central bank when it transfers 65 million billion dollars for the purpose of purchasing goods, for example, it is supposed that from these amounts comes customs and taxes of 6 billion dollars, but so far this amount has not come, as we now see the amounts collected are only one and a half billion dollars. ”

He added, “If the process of linking the Central Bank with the transfers and credits process and the outlets is completed and the amounts are taken in advance, for example, any transfer for a certain commodity has the insurance and tax fees taken in advance, here we will be able to raise the customs tax revenues in the country to the specified number when transferring the amounts annually to purchase the goods,” indicating that “many tax and traffic revenues, if the process of automation is completed, we believe that they will double.”

He explained that “the positive effects of increasing non-oil revenues are related to increasing the state’s treasury and thus enabling the state to move in wider financial areas, as there are many non-oil sources, perhaps the most prominent of which is the Ministry of Oil itself, as well as electricity, transportation and communications. In these ministries, the state is supposed to improve its ability to collect and exploit its capabilities.”

Hantoush confirmed, “There are places like the Baghdad Municipality and municipalities that have a huge wealth of properties that are not fully utilized. If the state is able to exploit these places and sites through specialized committees, we can enable the government to obtain large sums of money in this regard.”

shafaq.com

MELANIA HINDS CC HIGHLIGHTS NOTES, 4 JAN

 MELANIA HINDS CC HIGHLIGHTS NOTES

Chapter Summary: Analyzing the Current Economic and Currency Dynamics in Iraq

Introduction

Introduction

The ongoing economic developments in Iraq, particularly regarding the Iraqi dinarand its potential revaluation, have garnered significant attention among investors and citizens alike. 

This chapter provides a detailed summary of current events and insights from various sources, highlighting the implications of Iraq’s abundant natural resources, the cessation of the dollar auction system, and the anticipated changes in currency dynamics. The discussion draws on various key concepts such as digital currency, foreign exchange (Forex), and the Central Bank of Iraq (CBI), framing the significance of these developments in a global economic context.

The Status of the Iraqi Currency and Central Bank Initiatives

• The Central Bank of Iraq has ceased the dollar auction system, which is perceived as a strategic move to enhance the value of the Iraqi dinar.
• Reports indicate that citizens utilizing digital cards are currently receiving a  purchasing power of 10 cents, signaling a shift towards a more stable economic environment.
• The Kurdistan Regional Government is on an 11-day holiday, creating a temporary stall in economic updates, yet expectations remain high for forthcoming announcements regarding the dinar’s value.

Key Insights:

• Iraq ranks first in the world for the concentration of national resources per square kilometer and ninth in overall value, estimated at over $16 trillion.
• These statistics bolster the argument for a potential increase in the dinar’s value, spurred by a robust resource base.

Anticipated Changes in Currency Value

• The market is abuzz with speculation that the Iraqi dinar could see a revaluation soon, with some sources suggesting a new rate could be announced shortly after January 7.
• Dr. Shabibi’s historical assertion that the dinar could support a value of $16 per unit adds credibility to current optimism.

Supporting Opinions:

• Various insiders express confidence that all necessary measures for the dinar’s revaluation are in place, and the market is simply awaiting the right moment for the official announcement.
• Mark Z, a trusted contact, emphasizes that dollarization processes are under way, indicating a shift towards a more independent Iraqi economy.

Transition from Dollar Auctions

• The Deputy Governor of the Central Bank, Omar Khif, confirmed the permanent cessation of the dollar auction system, projected to conclude by the end of 2024.
• This transition aligns with broader economic reforms aimed at reducing reliance on the dollar and fostering a more sustainable financial framework within Iraq.

Contextual Analysis:

• As the dollar auction system fades, most traders have adapted to new mechanisms that do not directly involve the Central Bank in foreign currency access.
• This strategic shift is crucial for Iraq’s economic sovereignty and paves the way for the Iraqi dinar to gain legitimate standing in global markets.

Real-World Applications and Implications

• The introduction of a new electronic system for currency management is part of Iraq’s effort to modernize its financial infrastructure.
• Iraqi citizens are beginning to receive education on Forex trading, positioning them to take advantage of potential increases in the dinar’s purchasing power.

Case Studies:

• The ASYCUDAS system (Automated Customs Data System) is set to be implemented, emphasizing the need for the dinar to be active on Forex to facilitate seamless customs operations.
• The anticipation surrounding the dinar’s revaluation is not merely speculative; it is underpinned by foundational reforms that are already taking shape.

Community Engagement and Faith-Based Strategies

• The speaker emphasizes the importance of community involvement and faith in navigating this economic landscape, suggesting that collective efforts can manifest positive outcomes.
• Regular live streams and discussions are set up to engage the community in understanding how to leverage their financial positions effectively.

Conclusion

The evolving economic landscape in Iraq presents a unique convergence of resources, reform, and opportunity. As the Central Bank of Iraq moves away from dollar auctions and towards a more independent monetary policy, the potential for a revaluation of the Iraqi dinar grows increasingly probable. The community’s proactive engagement, combined with faith-based approaches to financial prosperity, underscores the importance of collective action in these uncertain times. As we approach critical dates in January, the anticipation surrounding the dinar’s fate encapsulates the hopes and aspirations of a nation on the brink of transformation.

Key Takeaways:

• Iraq’s abundant resources position it well for a stronger currency.
• The cessation of the dollar auction system marks a pivotal shift in economic strategy.
• Community engagement and spiritual practices play a crucial role in navigating financial changes.
• The next few weeks could be critical for the Iraqi dinar, with potential announcements expected that may redefine its value.

This overview underscores the multifaceted nature of Iraq’s economic journey, illustrating how intertwined financial policies, community efforts, and resource management can shape a nation’s future.

MAJEED: THEY HAVE ALREADY ADJUSTED THE PAYROLL ON THE NEW RATE!! @DINARREVALUATION

 

“Oil and Gas Law” resolves pending issues between Baghdad and Erbil, 4 JAN

 “Oil and Gas Law” resolves pending issues between Baghdad and Erbil

Shafaq News/ The Oil and Gas Committee in the Iraqi Parliament considered, on Saturday, that the agreement on the draft “Oil and Gas Law” and sending it from the government to the parliament will contribute to resolving many of the pending issues between Baghdad and Erbil.

Committee member Bassem Al-Gharibawi told Shafak News Agency, “Agreeing on the draft oil and gas law and approving it in the Council of Ministers and then sending it to Parliament will contribute to resolving many of the outstanding problems between the federal and regional governments.”

According to Al-Gharibawi, the government had previously formed a committee headed by the Deputy Prime Minister for Energy Affairs, the Deputy Prime Minister for Economic Affairs, and the Iraqi SOMO Company to negotiate with the regional government regarding amending the disputed articles and preparing a final version of the oil and gas law.

He added, “The Parliamentary Oil Committee hosted a number of officials from the Ministry of Oil during the previous legislative session, and discussed the formulas and articles that require amendment to the Oil and Gas Law.”

Last week, Iraqi economic expert, Nabil Al-Marsoumi, revealed that 9 foreign companies were demanding compensation amounting to 24 billion dollars resulting from the halt in oil exports after the Iraqi judiciary rejected the appeal of the Iraqi Ministry of Oil to cancel these companies’ contracts with the Kurdistan Region.

The Karkh Court of Appeal rejected an appeal submitted by the Iraqi Ministry of Oil and overturned previous rulings that declared the contracts of foreign companies with the Kurdistan Region invalid .

According to the court, contracts are considered “valid,” enforceable, and binding on both parties, and no party outside the contract has the right to object to them, even if they are based on a legal basis that the Federal Supreme Court in Iraq deemed unconstitutional in February 2022 .

The court explained in the reasons on which it relied that the decision of the Federal Supreme Court issued in February 2022 cannot be applied to contracts concluded before its issuance, in accordance with a general principle in Iraqi civil law.

shafaq.com

NADER FROM MID EAST HIGHLIGHTS: LOOKING STABILIZE THE RATE OF THE IRAQI DINAR, 4 JAN

 NADER FROM MID EAST HIGHLIGHTS

Highlights

• 💵 Monetary Reinforcement Mechanism: The Central Bank’s new strategy focuses on providing foreign currency to national banks.
• 📈 Financial Stability: The initiative aims to enhance the overall financial stability of Iraq through effective liquidity management.
• ⚖️ Fixed Exchange Rate: A stable exchange rate of 1,320 dinars per $100 is set to maintain the dinar’s external value.
• 📊 Control of Inflation: The mechanism is designed to regulate money supply growth and assist in controlling inflation rates.
• 🛒  Supply of Essential Goods: Facilitating foreign currency access aims to ensure a steady flow of basic goods and services in the market.
• 🔍 Compliance Monitoring: Enhanced scrutiny of foreign currency transactions is established to prevent money laundering and financial terrorism.
• 🌐 National and International Oversight: The initiative involves both national compliance measures and the role of correspondent banks for external auditing.

Key Insights

• 📉 Importance of Monetary Stability: The introduction of the monetary reinforcement mechanism underscores the Central Bank’s commitment to maintaining monetary stability in Iraq. By providing foreign currency to national banks, the mechanism aims to ensure that these banks can meet the demands of their clients without experiencing liquidity shortages. This is crucial for sustaining economic growth and fostering trust in the financial system.

• 💹 Effective Liquidity Management: Salah’s emphasis on monetary sterilization reflects the Central Bank’s strategy to manage local liquidity effectively. By exchanging foreign currency for the dinar, the Central Bank can control the amount of money circulating in the economy. This careful management is essential for preventing excessive inflation, which can erode purchasing power and destabilize the economy.

• 🔒 Fixed Exchange Rate Benefits: The decision to maintain a fixed exchange rate of 1,320 dinars for every $100 plays a significant role in stabilizing the Iraqi dinar. A stable exchange rate can enhance predictability for businesses and consumers, making it easier to plan investments and expenditures. This stability is fundamental for fostering confidence among investors and promoting economic activity.

• 📉 Inflation Control Measures: Salah’s statement that the monetary reinforcement mechanism will help achieve stability in the general price level indicates a proactive approach to controlling inflation. High inflation can lead to economic uncertainty and reduced consumer spending, and thus, measures to mitigate inflation are critical for ensuring sustainable economic growth.

• 🏪 Facilitating Domestic Supply Chains: The focus on providing foreign currency to national banks is aimed at ensuring that essential goods and services are available in the domestic market. This initiative is particularly important in times of economic turbulence, as it helps to prevent shortages and keep prices stable. The smooth flow of goods is essential for maintaining public confidence in the economy.

• 🔍 Compliance and Oversight: The plan to enhance compliance monitoring through national and international measures reflects a commitment to transparency and accountability in financial transactions. This increases the integrity of the financial system and helps to build confidence among international partners and investors. The role of correspondent banks in auditing compliance is crucial in this regard.

• 🌎 Global Financial Integration: By aligning local banking practices with international compliance standards, Iraq is taking steps towards greater integration into the global financial system. This can pave the way for increased foreign investment and economic collaboration, which are vital for long-term growth.

In conclusion, the monetary reinforcement mechanism introduced by the Central Bank of Iraq represents a strategic effort to stabilize the financial landscape of the country.

 By focusing on providing foreign currency to national banks, managing liquidity effectively, and ensuring compliance with international standards, the initiative aims to foster a more resilient economy capable of weathering financial fluctuations. 

The measures outlined by Mazar Muhammad Salah are geared towards not only stabilizing the Iraqi dinar but also enhancing the overall economic environment, ensuring that essential goods remain available, and reinforcing the integrity of financial transactions. 

The initiative is a significant step forward in Iraq’s journey towards achieving sustainable economic development and stability.