Baghdad-INA The First Deputy Speaker of Parliament , Mohsen Al-Mandalawi, confirmed on Monday, to an American delegation Iraq's firm position on the necessity of preventing conflicts in all their forms.
The media office of the First Deputy Speaker of Parliament stated in a statement - received by the Iraqi News Agency (INA) - that "First Deputy Speaker of Parliament Mohsen Al-Mandalawi received at his residence, today, Monday, the Director of the Political Section at the US Embassy in Iraq, Michelle Siders, and her accompanying delegation; to discuss the latest developments in the region and ways to enhance cooperation in files of mutual interest between the two countries."
Al-Mandlawi pointed out - according to the statement - "the necessity of the international community to pressure to stop the Zionist attacks on Gaza and the violations on Lebanon, and to take urgent action to end the crimes of genocide and the series of wars and conflicts in the region and the world, and to allow the entry of humanitarian aid."
The statement stressed, "Iraq's firm position on the necessity of preventing conflicts in all their forms, establishing the foundations of regional stability and moving towards reconstruction and building and strengthening the frameworks of foreign relations in light of mutual respect with the countries of the world."
In a recent interview, Samir Al-Nueri, an advisor and member of the International Union of Arab Bankers, discussed the positive financial indicators released by the Central Bank of Iraq for the third quarter of 2024. He highlighted that a careful analysis demonstrated significant growth in various banking sectors compared to the same period in previous years (2022 and 2023).
Notably, the Central Bank of Iraq decided to suspend operations on its electronic platform by December 31, 2024, reflecting a strategic shift in its operational framework.
Al-Nueri emphasized the success of the monetary policy implemented by the bank in 2024, which contributed to the positive financial results. Key indicators of this success include increased total deposits in banks, substantial growth in cash credit extended by these banks, and an upward trend in the cash supply across Iraq.
These developments suggest a strengthening banking sector, which may have broader implications for Iraq’s economic landscape.
📈 Positive Banking Growth: The Central Bank of Iraq reported significant growth in total deposits with banks for the third quarter of 2024.
💳 Increased Credit Supply: Cash credit extended by operating banks in Iraq saw substantial growth, indicating a robust lending environment.
🏦 Private Banks Performance: Deposits at private banks operating in Iraq also experienced noteworthy growth, reflecting investor confidence.
📊 Monetary Policy Success:
The successful monetary policy executed by the Central Bank in 2024 played a crucial role in achieving these positive indicators.
⏳ Suspension of Electronic Platform: The Central Bank announced the suspension of operations on its electronic platform by December 31, 2024, signaling a potential strategic change.
💰 Broad Cash Supply Growth: The overall cash supply in Iraq demonstrated considerable growth in the third quarter of 2024, indicating improved liquidity in the market.
📆 Comparative Analysis: The positive indicators for 2024 were assessed against the same periods in 2022 and 2023, underscoring a notable improvement in the banking landscape.
Key Insights
📊 Economic Recovery Indicators: The growth in total deposits showcases a recovery in the banking sector, suggesting that both individual and institutional investors are regaining confidence in the Iraqi financial system. This trend is vital as it lays the groundwork for further investments and economic stability in the region.
📈
Lending Environment Improvement: The increase in cash credit from operating banks indicates that financial institutions are more willing to lend. This development is crucial for stimulating economic activities, as businesses often rely on credit for expansion and operational costs. Such willingness to lend may also suggest a better risk assessment framework within banks, improving their operational efficiencies.
💡 Investor Confidence in Private Banks: The growth in deposits at private banks highlights a shift in investor preferences toward these institutions. This could be attributed to improved services, competitive interest rates, or the perceived stability of private banks compared to public counterparts. This trend may lead to a more competitive banking environment, ultimately benefiting consumers through better products and services.
🔍 Impact of Monetary Policy: The effective monetary policy of the Central Bank in 2024 is a crucial factor in the observed growth. By managing interest rates, inflation, and liquidity, the Central Bank has created a conducive environment for banking and financial stability, which is crucial for sustainable economic growth.
📉 Suspension of Electronic Platform: The decision to suspend the electronic platform may raise questions about the Central Bank’s digital strategy and future direction. This move could indicate a shift back to traditional banking practices or a reevaluation of digital banking initiatives. Stakeholders will be keen to understand the reasoning behind this decision and its potential impact on banking operations.
💵 Cash Supply as a Growth Indicator: The broad growth of the cash supply in Iraq is a positive sign that the economy is moving towards increased liquidity. This increase can facilitate consumer spending and business investments, driving economic growth. However, it also presents challenges, such as the potential for inflation if not managed correctly.
📅 Longitudinal Assessment: By comparing the third quarter results of 2024 with those of 2022 and 2023, the Central Bank provides a clear perspective on the progress made in the banking sector. This longitudinal analysis not only highlights improvements but also establishes a benchmark for future performance evaluations in Iraq’s economic recovery journey.
In summary, the financial indicators presented by the Central Bank of Iraq reflect a significant positive trajectory for the banking sector in 2024. The growth in deposits, credit, and overall cash supply suggests a recovering economy with increasing confidence from investors and consumers alike. The Central Bank’s monetary policy plays a pivotal role in this growth, although the impending suspension of the electronic platform raises questions about future banking strategies. Stakeholders will need to monitor these developments closely to understand their implications for Iraq’s broader economic context.
PM Al-Sudani on Army's Anniversary: Iraqi Army no longer an instrument of control
On Monday, Iraqi Prime Minister and Commander-in-Chief of the Armed Forces, Mohammed Shia Al-Sudani, emphasized that the democratic system does not allow for the concentration of power in one individual.
According to a statement from the PM’s media offices, Al-Sudani participated in the 104th anniversary of the Iraqi Army, under the theme "A Hand for Peace and Security, A Hand for Construction and Development".
In his speech, Al-Sudani said, "With the fall of the dictatorial regime [Baath], the army is no longer an instrument for the ruler to control the people. This is one of the achievements of our democratic system, which does not allow for the concentration of power or engaging in ventures that lead to the country's destruction."
Regarding the army’s importance in fighting terrorism, he pointed out that when terrorism hit Iraq, rebuilding the army by uniting its professional national forces and strengthening state institutions was the top priority.
“The Prime Minister praised the army’s heroic role in confronting ISIS, noting that it was at the forefront of the forces that fought and uprooted terrorism,” the PM’s media office proceeded.
Al-Sudani also advised military leaders to continue preparations to maintain security and stability across Iraq.
“Negotiations were conducted with friendly Global Coalition countries that assisted Iraq during the war against ISIS to transition to bilateral relations based on mutual interests and full sovereignty,” Al-Sudani affirmed.
The Iraqi PM also inaugurated several infrastructure projects designated for Ministry of Defense personnel, including the "6 January" housing project at the Taji military camp.
He noted that the Council of Ministers had issued a resolution to allocate plots of land for Ministry of Defense personnel in other provinces, emphasizing that “all support provided to the army is a rightful entitlement, not a favor.”
The Iraqi PM reaffirmed that his government has been committed since its formation to supporting and backing the army, focusing on developing its capabilities and equipping it with necessary tools.
Kimberly:Imo question so confused have the cbi auctions stopped? Or is the cbi running on a different system? Not understanding what is going on
Harlequin3: IMO- Yes, the auctions have stopped. There is a currency window (the auctions) that was started in 2003. That window is closed. In those auctions the CBI directly sold dollars for dinars to the local banks INSIDE Iraq only -- basically, they traded money back and forth to each other, and that is how the CBI controlled the rate (what is called a programmed rate.)
The ForEx we watch only reflects those internal auctions because the dinar is not internationally tradable. This is what makes the ForEx curve look like castle walls, up, sideways, down, up, sideways, down, instead of a floating line like a heartbeat. The problem is, this is how the Iranian-backed banks would get USD and launder it through their fronts (money exchangers on the street) and it would get funneled into Iran. These auctions were supposed to only be a temporary thing for a couple years, but the crooks enjoyed skimming and laundering the dollars.
In 2023, America said enough's enough. On Dec 30 the official announcement came to stop these currency auctions, on Dec 31 the final auction stopped. Now in Jan 2024, these metamorphosized (Frank's term) from out and out cash sales -- here's a dollar on the table for sale for real IQD on the table -- and switched to mostly an electronic platform (that's Saleh's 95% thing)
On Jan 1, the auctions stopped and became foreign reinforcements -- the CBI has nothing to do with this other than monitor and approve the transactions (with the UST, Ernst & Young, and K2 auditing the transaction BEFORE it happens, and ensures it goes where it's supposed to go -- not Iran -- and when it arrives.)
The CBI is NOT selling money to the banks anymore -- the banks MUST go get their money from OTHER banks outside the country (currency swaps, which is the essence of ForEx.)
So Bank A in Iraq is connected to Bank B in England, let's say, and they need foreign currency to cover their deposits, they request XYZ euros from Bank B -- for XYZ dinar at 1310 -- the money is ELECTRONICALLY wired back and forth.
There is a basket of currencies the banks can choose from: Euros, Yuan, Dirhams, Rubles, Jordanian Dinar, etc., etc. All the CBI is doing is watching this now, making sure it's legit.
On Jan 2, notice 7 banks in Iraq said, hey we need foreign currency! And 283m dinars' worth of that foreign currency electronically changed hands. No auction. This is how all banks all over the world operate. International standards.
It's audited on both ends, the request, and the completion. Today's exchange, had 279m dinar in the exact same fashion -- EXCEPT USD ARE allowed to be purchased (not in auction from CBI but from their international counterparts) from 5 (I think it's upped to 7 now) banks currently -- this dollar cash is permitted in Iraq for 3 purposes only: travelers request USD because they are traveling to the USA. They can't physically have the dollars until they've gone through airport security with their ticket, and they pick it up as they board the plane.
Second, the GOI IS allowed to use dollars for financing government approved projects -- audited by E&Y. (Building a bridge with an American company that requires American dollars, something like that.)
Or third, major medical procedures for citizens that require dollars -- that money is audited as it goes to the hospital for the procedure only.
Those are the only three legal uses for the dollar in Iraq. (Parliament wants a fourth for buying cars, so far Sudani says no, because that would be easy to launder.)
This is effectively drying up dollars on the streets -- Parliament (who skims it) says, whoa, that will raise the demand for the dollar in the black market and the exchange rate will skyrocket -- Saleh/Alaq say no, this is a temporary inflationary bubble that is NOT real -- there IS no black market, you are pirates operating illegally with illegal currency -- there is only ONE currency in Iraq, the dinar, and it has an official rate of 1320 -- anything other than this is against the law.
Saleh says "this bubble" will burst -- which is why we're hoping to see a new rate by then, one higher than the dollar -- because then the citizens won't be looking for dollars illegally -- they'll have strong local national currency.
Without the auctions -- there is NOTHING manipulating and propping up the 1320 rate -- so.... what are they going to do? Raise the value.
Eventually, the dinar will float in this basket, and ForEx will look like a heartbeat. But all that goes to say the auctions HAVE stopped. What you are seeing is "foreign currency reinforcements" not an auction -- the CBI has NOTHING to do with this money, it's between the two correspondent banks, and CBI is only auditing the transaction.
Work begins on navigation systems at Mosul Airport, Governor says
Shafaq News/ Installation of air navigation systems and radar equipment at Mosul Airport will begin on January 7, Nineveh Governor Abdulqader al-Dakhil announced on Monday.
“The French company responsible for installing the navigation systems and radar equipment [Aeroports de Paris Ingenierie (ADPI),] will commence work tomorrow at Mosul Airport,” al-Dakhil told Shafaq News.
He added that construction is also progressing on the arrivals and departures terminal, the air traffic control tower, the firefighting and rescue building, and runway lighting.
Prime Minister Mohammed Shia al-Sudani has set June 10 as the official opening date for the airport.
On June 10, 2014, ISIS captured Mosul, proclaiming its so-called caliphate days later after seizing large areas of Iraq and Syria. Iraqi forces, supported by a US-led coalition, recaptured the city in July 2017, before declaring the group's defeat nationwide by the end of the year.
The Iraqi prime minister has framed the airport’s opening as “a symbol of resilience.”
During a recent visit to Mosul, al-Sudani instructed that the inauguration coincide with the anniversary of the city’s occupation, describing it as "a message of defiance in the face of terrorism."
According to al-Sudani’s office, over 80% of the airport's runway and terminals have been completed.
Mosul’s airport, which was entirely destroyed during the fighting, has been under reconstruction since August 2022, when then-prime minister Mustafa al-Kadhimi laid its foundation stone.
...On Jan 1, the auctions stopped and became foreign reinforcements...The CBI is NOT selling money to the banks anymore- the banks MUST go get their money from OTHER banks outside the country (currency swaps, which is the essence of ForEx.)...All the CBI is doing is watching this now, making sure it's legit...Eventually, the dinar will float in this basket, and ForEx will look like a heartbeat.
But all that goes to say the auctions HAVE stopped.What you are seeing is "foreign currency reinforcements" not an auction -- the CBI has NOTHING to do with this money,
it's between the two correspondent banks, and CBI is only auditing the transaction...Without the auctions -- there is NOTHING manipulating and propping up the 1320 rate - so...what are they going to do? Raise the value...
Al-Sudani receives a "special" message from Trump: Syria, Iran and the factions
1/4/2025
An informed political source reported on Saturday that the Iraqi Prime Minister received a message from US President-elect Donald Trump.
The source told Shafaq News Agency that Al-Sudani received a message from Donald Trump through a special envoy on an unannounced visit, which included several axes.
The source pointed out that the most prominent axes are the necessity of containing and controlling weapons outside the framework of the state, stopping the activity of factions linked to Iran, in addition to Iraq not interfering in the Syrian file and supporting the formation of the new Syrian government.
Meanwhile, a government source told Shafaq News Agency that Iraq is working diligently to establish security in the region, and that the Prime Minister will present Iraq's vision in this regard during a visit to Iran.
On December 30, an informed source revealed that Prime Minister Mohammed Shia al-Sudani will begin a visit to Iran at the end of next week to discuss developments in the region.
The source told Shafaq News Agency that Al-Sudani will discuss several files with Iranian leaders, most notably the recent developments in Syria.
Al-Sudani had made several visits to countries in the region after the fall of Bashar al-Assad's regime, including Jordan and Saudi Arabia, where he discussed security issues with the leaders of these countries. Iraq also participated in the Aqaba Conference held in Jordan, with the participation of several countries, including the United States.
Iranian President Masoud Pezeshkian visited Iraq on September 11, and made a three-day tour that included Baghdad, Erbil, Sulaymaniyah, Najaf, Karbala and Basra.
On May 22, Al-Sudani also visited Tehran to participate in the funeral of Iranian President Ebrahim Raisi, who was killed in a plane crash. LINK
BOOM! RV. Military Operation: THE NEW FINANCIAL SYSTEM: Get out of the Matrix and enter the Golden Age! DINAR, DONG AND ZIM! GCR! THE ALLIANCE: The White Hat Army!
BOOM! The White Hats lead the charge in the Global Monetary Reset (GCR), with a military operation to bring down the corrupt financial system. Get ready for the revaluation (RV) of the Iraqi dinar, Vietnamese dong and Zimbabwean zim. This is your chance to break free from the matrix and enter a Golden Age of prosperity, freedom, and unparalleled wealth redistribution. The revolution is here, join the fight!
The global revolution has begun: prepare for the biggest change in human history The biggest financial reset the world has ever known has arrived. It is a revolution of consciousness, freedom and humanity that reclaims its power. The Golden Age is on the horizon. On January 3, 2025, a new era began. Get out of the matrix and enter the future, a future where YOU are in control.'
The Great Awakening: Humanity is awakening to the truth Humanity is awakening. The financial system, a slave machine, is being dismantled. The world is waking up to the truth, realizing that the power was always within them. The Golden Age begins with the GCR.
The Global Monetary Reset: A Complete Overhaul of the Financial System The GCR is a complete overhaul of the global financial system. We are moving from elite-controlled fiat currencies to a Quantum Financial System (QFS) backed by real assets like gold and silver. The new system will take power away from central banks, democratizing financial power.
The Quantum Financial System (QFS): The Future of Money is Digital The QFS is decentralized and secure, and uses blockchain technology for transparency and speed. It is linked to the Stellar Network, improving global financial inclusion.
The White Hat Army and the Alliance: Patriots Fight for the Future This global military operation, supported by leaders like Trump, Putin and Xi Jinping, along with benevolent aliens, is fighting for a future where the people have the power, not the corrupt elites.
The key players: the Iraqi dinar, the Vietnamese dong and the Zimbabwean zim, currencies that will transform the world These currencies will be revalued, triggering a massive redistribution of wealth around the world, supporting humanitarian projects and building a new era of prosperity .
The revolution has begun and there is no way to stop it. The GCR is the awakening of humanity. The old world is crumbling and a new world of prosperity and freedom is emerging. President Trump, the White Hats and their allies are working together for a prosperous future for all. The revolution has begun and the people are winning. Let's stay strong, because the future is ours.
It's happening, he's already started publishing and it's fascinating.
TRANSLATION IN SPANISH
WOLVERINE
¡BOOM! RV. Operación militar: EL NUEVO SISTEMA FINANCIERO: ¡Sal de Matrix y entra en la Edad de Oro! ¡DINAR, DONG Y ZIM! ¡GCR! LA ALIANZA: ¡El ejército de los Sombreros Blancos!
¡BOOM! Los Sombreros Blancos lideran la carga en el Reinicio Monetario Global (GCR), con una operación militar para derribar el sistema financiero corrupto. Prepárate para la revaluación (RV) del dinar iraquí, el dong vietnamita y el zim zimbabuense. Esta es tu oportunidad de liberarte de la matriz y entrar en una Edad de Oro de prosperidad, libertad y redistribución de la riqueza sin igual. ¡La revolución está aquí, únete a la lucha!
La revolución global ha comenzado: prepárate para el mayor cambio en la historia de la humanidad El mayor reinicio financiero que el mundo haya conocido ha llegado. Es una revolución de conciencia, libertad y humanidad que reclama su poder. La Edad de Oro está en el horizonte. El 3 de enero de 2025, comenzó una nueva era. Sal de la matrix y entra al futuro, un futuro en el que TÚ tienes el control.
El Gran Despertar: La humanidad está despertando a la verdad La humanidad está despertando. El sistema financiero, una máquina de esclavizar, está siendo desmantelado. El mundo está despertando a la verdad, dándose cuenta de que el poder siempre estuvo dentro de ellos. La Edad de Oro comienza con el GCR.
El Reinicio Monetario Global: Una Revisión Completa del Sistema Financiero El GCR es una revisión completa del sistema financiero global. Estamos pasando de las monedas fiduciarias controladas por la élite a un Sistema Financiero Cuántico (QFS) respaldado por activos reales como el oro y la plata. El nuevo sistema quitará poder a los bancos centrales, democratizando el poder financiero.
El Sistema Financiero Cuántico (QFS): El Futuro del Dinero es Digital El QFS es descentralizado y seguro, y utiliza tecnología blockchain para la transparencia y la velocidad. Está vinculado a la Red Stellar, mejorando la inclusión financiera global.
El ejército de los Sombreros Blancos y la Alianza: los patriotas luchan por el futuro Esta operación militar global, apoyada por líderes como Trump, Putin y Xi Jinping, junto con extraterrestres benévolos, está luchando por un futuro donde el pueblo tenga el poder, no las élites corruptas.
Los actores clave: el dinar iraquí, el dong vietnamita y el zim zimbabuense, monedas que transformarán el mundo Estas monedas se revaluarán, lo que desencadenará una redistribución masiva de la riqueza en todo el mundo, respaldará proyectos humanitarios y construirá una nueva era de prosperidad.
La revolución ha comenzado y no hay forma de detenerla La GCR es el despertar de la humanidad. El viejo mundo se está desmoronando y está surgiendo un nuevo mundo de prosperidad y libertad. El presidente Trump, los Sombreros Blancos y sus aliados están trabajando juntos por un futuro próspero para todos. La revolución ha comenzado y el pueblo está ganando. Mantengámonos fuertes, porque el futuro es nuestro.
Está pasando, ya empezó a publicar y es fascinante:
Retrospectively.. Details of an agreement between Baghdad and Erbil to resume the region’s oil exports revealed
1/4/2025 Special
The Parliamentary Oil and Energy Committee revealed, on Saturday, the details of an agreement between Baghdad and Erbil to resume exporting oil extracted from the fields of the Kurdistan Region of Iraq.
Committee member Nahro Mahmoud said in an interview with Al-Rabia, "There was an agreement between the government delegation in the federal government and the Kurdistan Regional Government of Iraq," indicating that "the main dispute was over the cost of extracting and transporting the oil produced in the region and then exporting it."
He added, "The agreement stipulates amending the three-year budget law and allocating $16 as a temporary cost until one of the international consulting companies in this field is hired and given a period of 60 days." LINK
Official Holiday Monday on the occasion memory founding Army Iraqi Al-Basel according to the Official Holidays Law No. 12 of 2024.
It will be Monday, the sixth of January Holiday Formal for all Iraqis On the occasion of the fourth anniversary after the hundredth of Tassis Army Iraqi Basil.
Al-Sudani: The Development Road Project will enhance Iraq's power in the region
1/5/2025 Baghdad
Prime Minister Mohammed Shia al-Sudani confirmed today, Sunday, that the development road project will enhance Iraq's strength in the region, politically and economically.
During his reception of the Director of the Iraqi Institute for Dialogue, Abbas Radhi Al-Amiri, according to a statement from his office received by "Al-Eqtisad News", Al-Sudani was briefed on the work of the organizing committee for the Seventh Baghdad International Dialogue, whose activities will start on February 22-23, 2025 under the slogan "The Path to Iraqi Development... Alliance of Interests and Geopolitical Stakes",
noting that choosing this topic falls within the great Iraqi interest in the project, which gives the country a pivotal role in the regional system as an important point of communication between the East and the West.
According to the statement, Al-Sudani expressed his "sponsorship of this annual international gathering hosted by the capital, Baghdad, which hosts an elite group of the most important decision-makers in the region and the world." LINK
Retirees in Iraq … some of them received their salary less than before…. And some found they have more money than their usual salary
This is the first time happening in Iraq It’s about to go down
MARAM
I am in Iraq. A pensioner's salary has been launched. There are many people who say that the salary has increased, and there are also those who say that it has decreased.
Economist: New steps by the Central Bank regarding dollar transactions
1/5/2025
Information / Baghdad..
Economic expert Safwan Qusay revealed today, Sunday, that there are new steps by the Central Bank to enhance transparency and global openness.
Qusay said in a statement to Al-Maalouma Agency that “the Central Bank of Iraq and the US Federal Reserve are moving towards authorizing Iraqi banks to contract with international auditing companies, instead of relying on the dollar selling platform alone, with the aim of auditing credits and transfers before implementing them.”
He explained that "this measure is in the interest of the Central Bank, as it contributes to avoiding the risks of money laundering cases and international sanctions," noting that "this step is a turning point that contributes to drawing a clear map for the work of Iraqi banks on the global stage, as they will deal with international correspondents and financial guarantees in addition to instant transfers, which enhances their position in global markets.”
He pointed out that "it is possible to rehabilitate banks facing current restrictions, which will lead to greater stability in the exchange rate," indicating that "the Central Bank attaches special importance in the next stage to increasing foreign currency reserves, which contributes to facilitating trade operations and supporting economic activity.” LINK
