IRAQ PREPARES FOR THE LARGEST LEAP IN ELECTRICITY PRODUCTION: HISTORIC CONTRACTS WITH GE AND SIEMENS AND PLANS TO COMPENSATE FOR GAS SHORTAGES
Minister of Electricity Ziyad Fadhil revealed on Friday that Iraq is about to sign two historic contracts with the American company General Electric and the German company Siemens to boost electricity production. The first contract will provide 24,000 megawatts, while the second will add 10,000 megawatts to the national grid.
The minister confirmed in a statement received by Al Furat News that “the issue of importing Iranian gas has not yet been resolved, explaining that the ministry has not received any official notification of the suspension of supplies, while discussions on the matter are still ongoing.”
In the face of any potential gas supply shortage, Fadel noted that “the government has alternative plans, including the use of kerosene, taking advantage of electricity interconnection projects with neighboring countries, solar power plants, combined-cycle units that do not require fuel, and the establishment of a floating gas platform at the port to enhance energy sources.”
The minister noted that “the ministry is currently implementing the largest campaign to resolve power grid bottlenecks in all governorates, by upgrading and creating new lines and installing transformer stations, with the goal of achieving greater stability in supply hours.”
Regarding warnings of an electricity crisis next summer, Fadel confirmed that “there is an exaggerated hype,” emphasizing that the government is well aware of the challenges and has clear plans to address them and ensure stable electricity supply in the coming months.
Today I also wanted to bring you news of what just happened in Libya with theor currency. We need to look at these other middle eastern countries and learn lessons from them too.
The Libyan Dinar Saga:
On 20 January 2025, the Central Bank of Libya (CBL) had announced the issuance of new banknotes in the 5-, 10- and 20-dinars denominations in the coming weeks and months. Yes, their newer lower denominations. The LD 10 denomination was issued on 26 January. All the new denominations bear the signature of the new CBL Governor, Naji Issa. The CBL said the new denomination will go into circulation along with the currently circulating issuances, starting today, Thursday, 27 March.
Just so you know today 1 Libyan Dinar = 0.21 US Dollar (21 cents)
What can we learn from this Libyan Dinar?
Remember that the politics of Libya has been shaped by the “shallow state” ceded by former authoritarian leader Muammar Gadhafi, who was overthrown in 2011. It took Libya 14 years to restructure their country and finally get back their currency. Iraq is now in this same process and it is taking a bit longer than Libya due to its association and corruption with Iran. Remember that Iran is still part of the axis of evil.
So what can we learn from this latest redenomination in Libya?
First, we can learn that Libya “gradually” rolled out the new lower banknote denominations.
Secondly, we can also see that the rate is 21 cents not thousands of dinars per dollar.
Third, we can ask the question of how can Iraq expect to trade in an environment of the middle east where many, if not all, of their trading partners have currencies that have been already “normalized” and lower denominations as legal tender?
My final point about this Libyan dinar saga is that we all know Iraq is chock-full of resources with many more assets than Libya and even many other middle eastern countries. Why is the Iraqi dinar then still suppressed? Oh….but what is important about Libya is what has been told to us in the recent articles from Iraqi news. Did you pick up on what these articles said. I hope you did but I will present a couple of the articles to you again below: (pay attention!)
IRAQ AND THE APPEASEMENT STRATEGY: A DIFFICULT BALANCE IN TIMES OF PRESSURE
Iraq has recently faced a significant escalation in US economic and financial pressure, primarily targeting dollar transactions and Iranian gas imports, along with repeated demands regarding the future of the Popular Mobilization Forces. These pressures come as part of Washington’s efforts to isolate Iraq economically from Iran, with the aim of strengthening the effectiveness of sanctions imposed on Tehran to force it to reassess its nuclear program.
However, this policy presents Iraq with complex challenges as it attempts to maintain a delicate balance in its foreign relations.
Recent reports indicate that the United States has refused to renew the waivers that allowed Iraq to import gas and electricity from Iran. This was confirmed by Iraqi Foreign Minister Fuad Hussein on March 19, 2025, who noted that Washington described the decision as “irreversible.”
This decision threatens to exacerbate the energy crisis in Iraq, which relies heavily on Iranian gas to power its power plants. Imported gas accounts for approximately 40% of the country’s total energy needs, according to estimates from the Iraqi Parliament’s Oil and Gas Committee.
On the financial front, the United States is seeking to restrict dollar transactions in Iraq to prevent its smuggling to Iran, which is suffering from massive economic pressures due to sanctions. According to a report, Washington believes that cutting off these financial arteries will directly weaken Tehran, thus strengthening the impact of the sanctions.
But this approach places the Iraqi government in a difficult position, as Iraq holds financial reserves exceeding $100 billion in the United States, making it dependent on Washington’s goodwill to access its oil revenues.
(This is why the U.S. won’t transfer the remaining DFI funds to Iraq and keep renewing exec order 13303. See it now?)
Separately, statements by the Iranian ambassador to Baghdad, Mohammed Kazem Al-Sadiq, on March 27, 2025, sparked widespread controversy when he said that US President Donald Trump’s letter to Iranian Supreme Leader Ali Khamenei included a request to dissolve the Popular Mobilization Forces and other armed factions.
However, Iraqi Prime Minister Mohammed Shia al-Sudani quickly denied any direct US request in this regard, stressing that any decision to dissolve the factions is linked to the end of the international coalition’s presence in Iraq.
For his part, MP Alaa Al-Haidari defended the Popular Mobilization Forces Law, considering it an internal matter aimed at honoring those who sacrificed for the nation.
The Iraqi government is adopting a strategy of appeasement in its foreign policy, attempting to maintain a balance between the United States and Iran, two of its historical allies. However, this approach faces increasing challenges, especially with mounting US pressure to end economic and military coordination with Tehran. Analysts believe that Washington also aims to “undermine the unity of the arenas,” the strategy Iran uses to connect its fronts in Iraq, Syria, Lebanon, and Yemen.
Economically, Iraq is paying the price for its heavy reliance on Iran for energy. Iraqi lawmakers have called for exploring alternatives, such as Qatar and Turkey, for gas imports. However, this step requires huge investments and a long-time frame, both of which may be unavailable given the current crisis. Conversely, experts believe that economic decoupling between Baghdad and Tehran could increase pressure on Iran, but it could also cause internal unrest in Iraq, especially if the electricity crisis worsens.
Welcome to April! Still no RV and no its not going to happen this week…lol..lol..
Let me emphasize again that these RV intel gurus on the internet are playing head games with you. When will you learn their garbage is only confusing you?
So, today I have some interesting news. I want to preface telling this news because many of you are going to off half-cocked as you normally do, by thinking the RV is imminent. It is NOT, however it won’t take long to implement this strategy either. Al-Sudani knows he might get another term,
but nothing is certain either. So like President Trump he is moving things along. So please don’t give me your sad story bashing me that the RV did not go on ‘YOUR” timing.
Today the focus is mainly all on the Development Road Project within Iraq.
We can now see the intent of the digital dinar and why they need it. It all now fits together nicely. Yes, it took a few weeks to figure it out.
It is to transfer funds during the series of these projects and afterwards used to export and import.
Folks, this Development Road Project is huge and encompasses many aspects of what we have and are still learning. There are huge financers now coming forward.
These are big players.
Why are they all of a sudden committing all this money?
Could it be the influence of President Trump? Could it be the announcement of the digital dinar? Could it be the announcement by Al-Sudani that the dollar is finally controlled, something that Ali Al-Alaq told us almost 6 months ago.
These planned industrial cities are meant to produce and goods to be consumed in country and some exported abroad. The ability to manufacture and deliver exports has always been the wealth of any great nation.
Oh… so if Iraq can produce more needed goods in country and do not have to import what is this telling us?
It is the balance of trade and making Iraq rich. Is this not where they needed to go economically?
Is this not getting out of the sole issue of an oil based “rentier” economy? How many times must we hear about this goal in the news. Oh… did I mention the customs and tariffs that also are an integral part of this process and result from all of this trade?
Didn’t they also told us in the past that this revenue alone could rival the oil sales? Are you putting two and two together? Actually, its much more than two and two. Let’s take a look at all the pieces:
1.Port of Faw
2.Customs and Tariffs Reforms
3.Industrial Cities
4.Development Road Project
5.All the Pillars of Financial Reforms we have been witnessing (last 2 years)
6.A non-corruptible system of payments and funding (The new Digital Dinar)
7.Currency Reform (TBD)
Are all these parts not what they have been telling us all along they needed to do in order to have the needed economic “stability” and “sustainability”?
I do not believe for one second, they intend to use the US dollar anymore for trade in the near future, actually they just told us this recently, so we know it's now a FACT. They told us they will be using their own currency – the digital dinar.
If this ain’t a WOW! I don’t know what it…. lol.. lol.. lol… But how can they do this without the IQD on FOREX. I don’t know, you tell me…. 😊
Having said all this, then why are many of my readers so gloomy? Why are many of you giving up? I don’t get it. Yes, I get the frustration too. Don’t think I am not also frustrated with all the corruption that has been holding back what we want.
AL-SUDANI AND ALLAWI DISCUSS GOVERNMENT EFFORTS TO ACHIEVE ECONOMIC REFORM
Prime Minister Mohammed Shia al-Sudani discussed with former Prime Minister Iyad Allawi on Saturday strengthening government efforts to achieve economic reform.
Prime Minister Mohammed Shia al-Sudani receives former Prime Minister Iyad Allawi, and they discuss strengthening government efforts to achieve economic reform.
(You remember former Prime Minister Iyad Allawi. He was the very
first prime minister for the new democratic Iraq. His second term was stolen by corrupt politicians and Nori Al-Maliki took over for the next 8 years and did not advance Iraq, in fact he is the one that corrupted the currency auctions and fed Iran billions of US dollars, not to mention ignoring most of the new constitution. Sound familiar? It is so good to see Allawi supporting Al-Sudani’s reforms and efforts to bring back the dinar to its “glory days”. 😊 Actually this warmed my heart to see the cooperation between these two men. Its been a long time…)
"CENTRAL BANK: WE WILL LAUNCH A MAJOR INITIATIVE TO FINANCE NDUSTRIAL PROJECTS"
**When the CBI talks, I listen** The Central Bank of Iraq announced on Sunday its
intention to launch a major initiative to finance industrial projects in cooperation with the Trade Bank of Iraq and the Industrial Bank.
"This initiative was recently proposed by the Cabinet as part of the government's banking sector reform program and government measures with the Central Bank," noting that "the Cabinet agreed to cooperate between government banks with a financial surplus to finance a package of industrial projects through the Industrial Bank."
Prime Minister Mohammed Shia al-Sudani confirmed the government's control over dollar sales, and that financial transfers are conducted in accordance with internationally recognized procedures.
(WOW! WOW! WOW! This is going to get us the reinstatement.
Are you listening? Please go to my RV Status commentary in today's Newsletter to understand why I am saying this.
TALKING ABOUT $2 BILLION MISSING AND A CATASTROPHIC SITUATION, A DEPUTY CONFIRMS THE CONTINUED SMUGGLING OF DOLLARS THROUGH “NEW METHODS.
Parliamentarian and member of the parliamentary economic committee, Sipan Shirwani, confirmed that billions of dollars are lost in government bank accounts, pointing to “a new way to smuggle US currency to sanctioned countries.”
“According to the reviews we conducted on the banks in the past period, we found a catastrophic situation in which Iraqi banks are operating, including those affiliated with the Ministry of Finance,” Sherwani said in an exclusive interview with Al-Jabal platform on Thursday. “When you look at the expenditures, you find billions of dollars in corruption cases,” he added, noting that “the numbers are beyond the range of expectations, and there is no oversight of these amounts.”
Sherwani stated that “in one case at the Trade Bank of Iraq (TBI), two billion dollars are missing, and in another case, two trillion dinars were given as loans to the people, and nothing was returned. This reflects negligence on the part of the bank itself and the Ministry of Finance.” He pointed out that “if there was no collusion between these parties, there is certainly a reason for the failure to return these funds. This proves the failure of the bank and the authorities responsible for managing the people’s money.”
At the same time, Shirwani added, “The smuggling of dollars abroad is continuing, and smugglers have found a way to smuggle the currency to neighboring countries and from neighboring countries to countries subject to US sanctions,” stressing that “this is documented.”
The parliamentarian said, “We see astronomical amounts of Iraq’s financial resources being squandered, left unattended, and these sums are public funds deposited by the ministry in these banks for citizens to benefit from in various projects.” He added, “These funds are being given to specific entities without revealing the identity or private information of those entities, and they are not returned.”
According to Sherwani, “There are banks that have lost an estimated two billion US dollars due to non-performing loans, and in other banks, the amount of lost funds has reached one billion dollars, or trillions of Iraqi dinars,” indicating that they “were granted to private entities, individuals, and companies.”
The MP had previously held a press conference at the Parliament’s press center regarding the “failure of the Ministry of Finance and government banks to manage state funds.” He said that “in the absence of accurate oversight, billions of dollars have been lost in government banks without any real accountability, which raises questions about the management of these financial institutions.” He pointed out that “Rafidain Bank has not been audited for more than nine years, in clear violation of transparency and accountability standards.”
He added that “TBAB has not been audited for four years, despite the volume of financial transactions it conducts,” stressing that “there are two trillion dinars in unrecovered loans at the bank, which constitutes a continuous financial drain. Financial obligations are converted from dinars to dollars, then sent to other countries and then smuggled to countries subject to sanctions. What raises suspicions about dollar smuggling operations is the disappearance of two billion dollars when it was received from Hamdia Al-Jaf at TBI.”
Sherwani pointed out that “TBI’s smart cards are ineffective outside Iraq, which requires an official explanation for this disruption. Obtaining loan funds in dinars instead of dollars leads to price differences of up to 10% between the official rate and the parallel rate, causing losses to the state treasury.”
To protect public funds and recover defaulted loans, the MP confirmed, “We contacted the Ministry of Finance and the relevant banks to obtain the required data, but TBI Bank refused to provide us with the information under the pretext of account confidentiality, ignoring its responsibility to protect citizens’ funds instead of covering up suspicions of corruption. The Ministry of Finance and Rafidain Bank refrained from responding to our official communications despite repeated confirmations.” He stressed, “Based on this, and in accordance with Law No. 15 of the Council of Representatives and its formations, we will resort to the necessary legal measures and refer the entire file to the Integrity Commission, the Financial Supervision Bureau, the judiciary, and the Public Prosecution to ensure accountability and recover state funds.”
Tues. 25 March 2025 Mr. Pool: Reports from Reno suggest that the first batches of ZIM holders have been escorted under military guard to classified exchange points.
Thurs. 27 March 2025 Bruce: Bond Holder Paymasters were saying Bond Holders would have access to their accounts over the weekend. As of ten am Thurs. 27 March 12% of Bond Holders had gone through. Multiple sources said Tier4b (Us, The Internet Group) would likely get notification to set appointments very soon. The full revaluation will happen after Tues. 1 April 2025. The month of April will see an increase in Social Security payments.
On Thurs. 27 March the 800 number was being loaded into the various systems.
On Mon. 31 March 2025 Nesara Gesara was made official throughout the World. …White House Post on Telegram
On Mon. 31 March 2025 a high level contact reported that Tier4a (SKRs, Groups) started exchanging today Mon. 31 March. They anticipated that Tier4b (Us, the Internet Group) would begin exchanges by around Thurs. 3 April.
AL-SUDANI: WE HAVE CONTROLLED THE SALE OF DOLLARS AND ARE WORKING TO REFORM THE BANKING SYSTEM.
Prime Minister Mohammed Shia al-Sudani confirmed the government’s control over dollar sales, and that financial transfers are conducted in accordance with internationally recognized procedures.
During a televised interview broadcast on Al-Sa’a Network, Al-Sudani stated that “the government has contracted with reputable international companies to reform the private banking sector.”
He added that “the Iraqi banking system operates transparently in accordance with international standards,” stressing that “we have reached the final stages of establishing the first Rafidain Bank, to develop the banking system and achieve development.”
Tier4b (us, the Internet Group) should receive notification to set exchange appointments by noon Wed. 2 April.
Social Security increases are supposed to occur this month.
The DOGE payment is supposed to start within the next few days. That comes from savings that Musk has found in fraudulent SS payments.
The Restitution & Reclamation amount should be in your Quantum Account you set up at the Redemption Center
You will move six months of funds from your Quantum Account into a Wells Fargo Account.
Estimate what you need for the first two months to move into your Wells Fargo Account. On the 63rd day you can move whatever you want into the Wells Fargo Account.
Banks will offer financial services that they charge for. Banks and Exchange people will pick up .025% of our exchange for their services (that we don’t pay).
You can transact monies in your bank account over your Q phone.
Zim Holders will receive Q phones.
On Wed. 2 April Liberation Day we could get an announcement about Nesara Gesara.
The new asset-backed USTN is in bank vaults. You should be able to get around $3,000 in cash at your redemption appointment.
PRIME MINISTER: WE RENEW OUR COMMITMENT TO IMPLEMENTING THE GOVERNMENT’S PROGRAM AND CONTINUING TO WORK UNDER ALL CIRCUMSTANCES WITHOUT INTERRUPTION
Prime Minister Mohammed Shia al-Sudani congratulated Iraqis on the occasion of Eid al-Fitr.
A statement from the Prime Minister’s Office, a copy of which was received by {Euphrates News}, quoted Al-Sudani as saying: “On the occasion of the blessed Eid al-Fitr, we pray to God Almighty to bless its days for our noble Iraqi people and for the entire Islamic nation, and to accept our acts of obedience, good deeds and striving to please Him, and to spread peace and security throughout the world.”
He added, “We renew our commitment to implementing the government’s program in all its service, social, and economic dimensions, and to continue working at all times and under all circumstances without interruption,
and to exert every effort for reconstruction and development, in accordance with what is required by the supreme interests of our people and the aspirations of all its citizens.”
(WOW! WOW! WOW! you have to luv it! Please put two and two together. What are they saying? We will go over this in today’s news. 😊)
SANDY INGRAM : Will it be so easy to exchange Iraqi dinars? IQD | MEX | ANG | XCG
Highlights
Summary
The provided content consists solely of a timestamp notation (“00:00:12 Subtitles in Video”) with no further context or information. Given this limitation, it’s impossible to generate a full summary or meaningful highlights and insights because the content is significantly lacking in details.
However, I’ll address the potential intent behind the mention of “Subtitles in Video,” which may pertain to the importance of accessibility in video content.
Subtitles serve not just to aid comprehension for individuals who are deaf or hard of hearing, but they also assist non-native speakers, ensure clarity in noisy environments, and enable viewers to engage with video content in various linguistic contexts.
Additionally, subtitles can enhance learning experiences, making educational videos accessible to a broader audience. Thus, the mere mention of subtitles can open discussions on several theoretical and practical implications regarding their use in digital media.
🎥 Subtitles enhance accessibility for disabled viewers.
🌍 Subtitles support non-native language learners.
📝 Subtitles improve comprehension in noisy environments.
📈 The use of subtitles can lead to wider audience engagement.
💡 Subtitles can facilitate deeper learning in educational contexts.
📜 Subtitling practices vary widely across cultures and platforms.
🧩 Subtitles can aid in the preservation and promotion of lesser-known languages.
Key Insights
💬 Accessibility Enhancement: Subtitles play a crucial role in making video content accessible to those with hearing impairments. This inclusion is not merely a convenience; it is a legal and ethical obligation for many content creators and platforms to ensure compliance with disability rights laws. Enabling meaningful access to information supports inclusivity in media consumption.
🌐 Language Learning Support: For non-native speakers, subtitles provide an invaluable tool for learning a new language. By displaying text alongside the spoken word, viewers can enhance their understanding of vocabulary, pronunciation, and colloquial expressions. This dual coding of information can accelerate the language acquisition process and bolster confidence among learners.
🎧 Comprehension Improvement: In spaces where audio quality is subpar or distracting background noise exists, subtitles can significantly aid in comprehension. Viewers are often more engaged when they can read along with the audio, reducing the cognitive load required to interpret spoken language under challenging conditions.
📊 Audience Engagement: Including subtitles can expand a video’s reach. Research shows that videos with subtitles are often shared more frequently and are more likely to be viewed multiple times. This can be particularly beneficial for marketers and content creators aiming to maximize their audience while ensuring key messages are received accurately.
✏️ Educational Tools: In formal and informal education contexts, subtitles can enhance the learning experience, providing an effective means of reinforcing material presented in videos. For subjects that require a high degree of comprehension, such as complex sciences or foreign languages, subtitles ensure that learners can follow along without losing vital information.
🌏 Cultural Variability in Subtitling: Different cultures employ distinct practices regarding subtitling, including the language and style of subtitles. By studying these variations, practitioners can gain insights into cultural communication styles and preferences. This understanding can inform better practices in subtitling, ensuring content resonates well across diverse audiences.
📘 Language Preservation: Subtitling can also aid in the promotion of less widely spoken languages by facilitating their presence in global media. By investing in subtitles in these languages, content creators support the cultural heritage and identity of speakers, contributing to broader preservation efforts while making their content accessible to niche audiences.
Overall, while the video transcript provided does not offer substantive content, the implications surrounding the importance of subtitles in video can be far-reaching. By ensuring accessibility, supporting language learning, and enhancing engagement, subtitles are an integral aspect of modern media practices.
PM Muhammed S. Al-Sudani returned to Baghdad on Monday following his visit to Maysan province.
The visit included launching the construction works for the Maysan Refinery Development Project, which will expand its refining capacity from 40,000 to 110,000 barrels per day, according to a statement by the PM Media Office – received by the Iraqi News Agency – INA.
The visit also included the following:
– Inaugurating Al-Amarah Unified Major Water Project, with 16,000 cubic meters per hour capacity.
– Inaugurating the Martyr Hussein Atiyah Overpasses and Underpass Project in Maysan Province.
– Launching the construction of the College of Medicine at the University of Maysan.
– Launching the construction of the rehabilitation projects for the Al-Amarah–Al-Mashrah–Gzaila–Al-Shaib Road with a concrete overpass and the Al-Amarah–Al-Butaira–Al-Fajr Road.
– Inaugurating the new building of the Maysan Traffic Directorate.
– Meeting with a group of academics, professionals, and sectoral union members.
– Meeting with a group of businessmen and community
figures in Maysan.
– Meeting with former members of the Maysan Provincial Council.
– Participating in Eid al-Fitr prayer with citizens at Al-Ansari Mosque in Maysan Province.
– Meeting citizens offering Eid greetings at his residence in Maysan Province.
– Exchanging Eid greetings with citizens at the guesthouse of Sheikh Hatem Saadoun Al-Sayhood.
In this discussion, the speakers delve into the intricacies of communication and the interpretation of digital currencies, particularly focusing on Ripple and the concept of Guru breath.
The conversation centers around the significance of approach and understanding when engaging in discussions about complex financial topics.
One speaker, Whiley, emphasizes the importance of genuine dialogue and expresses a humorous concern about the possible embarrassment of encountering an overly technical conversation without adequate preparation.
The terminology introduced, such as RV (Revaluation) and Ripple, represents crucial concepts in the broader discourse of cryptocurrency and financial exchanges. Hence, this summary aims to encapsulate the thought-provoking exchanges in the transcript, highlighting key terms and arguments.
Key Concepts and Expressions
“Follow the bouncing ball”: This expression is used to describe a more dynamic and engaging way to approach conversation, emphasizing the importance of keeping a dialogue lively.
Embarrassment in Communication: Whiley expresses a personal concern about feeling out of depth in conversations about complex topics without proper explanation.
RV (Revaluation): This term often refers to the speculative increase in the value of currencies, which is particularly relevant in discussions around cryptocurrencies.
1.
The Importance of Genuine Engagement
The speakers highlight the necessity of approaching conversations with a genuine intent to engage. Whiley pointedly reflects on what might have happened had he arrived at a discussion with a purely transactional mindset, inundating his dialogue with terminologies like “Guru breath” and financial jargon such as “bank screens”. This highlights the sentiment that overly technical language can alienate conversation partners rather than foster understanding.
Key Insight: A well-prepared approach tailored to the audience’s level of understanding is crucial for effective communication in technical fields.
Quote: “I don’t think I would have made it past the first five or ten minutes.”
2. The Role of Language in Financial Discourse
The conversation takes a deeper dive into language and
terminology, emphasizing how the choice of words can significantly alter the reception of financial discussions. Whiley suggests that invoking intricate terms too early in a conversation can lead to misunderstandings or disengagement.
Statistical Insight: While the transcript doesn’t present explicit statistics, it underscores the importance of clarity in communication—implying that clearer discussions may lead to better understanding and potential investment engagement.
Supporting Evidence: The overwhelming presence of jargon in financial discussions often serves as a barrier to entry for newcomers to cryptocurrency markets.
3. Risk of Misinterpretation
An interesting point raised is the risk involved when participants approach discussions without a foundational understanding of the topics at hand. The potential embarrassment conjured by Whiley’s hypothetical is a metaphorical representation of how missteps in comprehension can lead to a chain reaction of error and misunderstanding.
Real-World Example: Instances where individuals have jumped into investment discussions without adequate knowledge resulting in financial loss and missed opportunities.
4. The Value of a Conversational Approach
The discussion reveals that taking a conversational approach as opposed to a confrontational one can yield better results. By using a metaphor like “follow the bouncing ball,” the focus is redirected towards guiding understanding rather than simply dictating terms.
Argument for Conversational Tone: The more relaxed and inviting the tone of a conversation, the more likely individuals are to engage meaningfully.
Quote: “That’s where you’re talking about some different things.”
Conclusion
The conversation encapsulated in the transcript serves as a powerful reminder of the need for clarity, engagement, and empathy in discussions surrounding complex financial instruments. The mention of potential embarrassment if delving too deeply into jargon signals a broader cultural phenomenon within the cryptocurrency sector, where many may feel lost in the linguistic labyrinth of finance.
Moving forward, this narrative emphasizes the implications of language and approach in fostering a more inclusive environment for dialogue. Understanding and simplifying complex topics can bridge the gap between experts and novices, ensuring that discussions remain productive and accessible. The implications underscore the importance of not just discussing financial matters but doing so in a manner that invites more voices into the conversation.
Through an emphasis on genuine interaction, clarity of language, and the conversational approach illustrated, we can pave the way to more inclusive and effective communications in the evolving landscape of cryptocurrency and finance.
The Director General of Rafidain Bank, Ali Al-Fatlawi, announced that “the bank is at the beginning of a new, more advanced and influential phase in the Iraqi financial scene.”
Al-Fatlawi said in a press statement that “the bank has witnessed a qualitative transformation in recent years to become one of the pillars of the modern Iraqi banking sector.”
“We have contracted with the American University in Baghdad to implement advanced programs in banking management, financial risk and compliance,” he explained, pointing to “the adoption of advanced systems to combat money laundering and terrorist financing, including the GoAML system supported by the United Nations.”
“We launched a team specialized in developing banking initiatives and contributed to the settlement of electronic payment revenues for most state departments,” Al-Fatlawi continued.
He added, “We have launched electronic payment services that have facilitated employees and retirees to receive their dues easily, and we aspire to make Rafidain Bank a model of banking leadership in Iraq and the region.”
MILITIAMAN: Overview - Prime Minister of Iraq - Financial Technology - Banking of the Future
Highlights
Summary
In this video, the speaker from “Militia Man and Crew” discusses recent developments in Iraq’s economy and banking sector, focusing on the Kurdistan Regional Government’s commitment to exporting oil through the State Organization for Marketing of Oil (SOMO).
The speaker highlights the importance of recent meetings between Iraq’s federal and regional ministries of oil and natural resources, emphasizing the need for reforms within the banking system to comply with international standards and promote economic growth beyond oil dependency.
Al-Sudani, Iraq’s Prime Minister, is portrayed as taking active steps towards rebuilding stalled projects, improving public financial management, and fostering non-oil revenue.
The speaker also touches upon the efforts of state-owned banks like Rafidain Bank to modernize and integrate with international banking practices, along with the introduction of new banking services which indicate a shift towards a more privatized economy.
🌍 Kurdistan’s Oil Export Commitment: The Kurdistan Regional Government is making strides towards exporting oil through SOMO, signaling important economic reforms.
💰 Banking Revolution: Iraq’s banking sector is undergoing significant reforms to enhance transparency and compliance with international norms.
📈 Economic Diversification Efforts:
Al-Sudani emphasizes the importance of developing non-oil revenue sources to reduce the country’s historical reliance on oil exports.
📊 Modernization of State-Owned Banks: Rafidain Bank is implementing advances in financial technology and compliance, improving its standing within the banking sector.
🚧 Completion of Stalled Projects: The government aims to complete numerous stalled projects within 6 to 8 months, which are expected to generate thousands of jobs.
💼 Local and Federal Cooperation: Cooperation between local governments and the federal government is becoming increasingly important in the current economic phase.
📅 International Relations and Goals: Iraq’s government is working to improve its international perception while maintaining regional stability and engagement with neighboring countries.
Key Insights
🛢️ Oil Export Quandary:
The reluctance of the Kurdistan Regional Government to export oil through SOMO underscores the complexity of Iraq’s federal regional relationship. The commitment to passing a budget amendment that facilitates this transition could be pivotal for Iraq’s economic recovery and stability. While intentions are expressed, actual implementation remains to be seen and will require careful navigation of political dynamics.
🏦 Banking Sector Transformation: The reforms led by the US Treasury and Federal Reserve are unprecedented and suggest a true transformation within Iraq’s banking system. The incorporation of international compliance measures could elevate Iraq’s financial system, enabling greater foreign investment and financial trust.
🛠️ Economic Diversification Imperative: Al-Sudani’s push for projects that are not oil-dependent indicates a strategic pivot towards a more sustainable economic model. This effort to cultivate alternate revenue streams is critical for long-term economic health and resilience against oil price fluctuations.
📈 Public-Private Partnerships: The collaboration with entities like Ernst & Young and Oliver Wyman reflects a broader strategy to modernize Iraq’s financial institutions. The focus is not just compliance but a complete overhaul of the banking infrastructure to support a more nimble and effective economy.
🤝 Community Engagement: The calls for cooperation between local and federal governments emphasize a grassroots approach to governance that is essential for the success of economic reforms. This could provide a context for economic policies that are more relevant to local populations and address immediate needs.
👔 Employment Generation Potential: The potential for job creation through the execution of stalled projects is significant. By focusing on infrastructural initiatives, the government is not only aiming to revitalize the economy but also to provide much-needed employment in a country where job scarcity has been a pressing issue.
🌐 Rafidain Bank’s Innovations: The introduction of ATM services and a savings card signifies an important step towards modernizing banking practices in Iraq. As these innovations unfold, they could lay groundwork for greater financial integration and stimulate economic activities that rely on modern banking functionalities.
In conclusion, the video brings forth a comprehensive update on the recent changes in Iraq, particularly in its oil export policies, banking sector reforms, and community engagement strategies. It outlines a roadmap that suggests a transition towards a more stable and diversified economy, but stresses the importance of implementation and teamwork on both local and federal levels to achieve real progress.