Central Bank: Committed to building a more inclusive and fair digital financial system
Economy News – Baghdad
The Central Bank of Iraq stressed on Wednesday the importance of the role of the media in supporting financial inclusion and spreading financial culture, while pointing to its commitment to building a more inclusive and just digital financial system.
The assistant head of the financial affairs department at the bank, Virgin Taha Mohammed, said in a speech during the ninth (third international) scientific conference of the College of Media at the Iraqi University, under the slogan: “Artificial intelligence in the media: prospects for innovation and challenges of cultural dialogue”, that “this conference reflects the bank’s vision to promote financial inclusion and implement government directives towards the use of electronic means of payment, and the role of the media in spreading financial culture.”
She added that “financial inclusion has become one of the pillars of economic and social development, it not only means the access of individuals to banking services, but also includes enabling them to make smart financial decisions that contribute to improving their lives and supporting the stability of society as a whole,” stressing that “the vital role of the media is not limited to awareness, but extends to building a well-established financial culture that enhances trust between the citizen and financial institutions.”
She explained that “the government’s orientation towards promoting the use of electronic payment methods has become an urgent necessity imposed by the developments of the times, which requires all parties, whether they are academics, journalists or institutions, to join join to guide society.”
She stressed that “media colleges play a pivotal role in preparing media cadres capable of delivering financial messages in innovative and highly credible ways, to bring economic concepts closer to all segments of society, especially marginalized groups or those that were outside the traditional financial system.”
She stressed that “the Central Bank of Iraq is committed to active participation in building a more inclusive and fair digital financial system, and opens the doors of cooperation with universities, researchers and all concerned authorities to achieve this goal, through: organizing workshops and seminars within universities to introduce students to the concepts of electronic payment and their importance, and providing technical and knowledge support for university research that deals with digital transformation and digital finance, while encouraging financial innovation among students by urging the financial sector to provide financial products and services customized to the student segment, and provide easy digital solutions, as well as involving students in awareness campaigns as active contributors to spreading a responsible financial culture in society.”
She concluded by saying: “This integration between the Central Bank and universities not only aims to increase the use of electronic payment tools, but also aims to create a conscious generation financially and technically, and is capable of leading the national economy towards further progress and modernity,” stressing that “investing in financial awareness within universities is an investment in the future of Iraq, which is the best way to achieve real and sustainable digital financial inclusion.”
We have entered a window of two weeks to two months. A window of opportunity for this to go
Walkingstick
I don't think it's going to take very long [to collect the three zero notes after a rate change], within a matter of days, weeks, these three zero notes will be collected...
Inside of Iraq, those banks are run under the CBI banking laws. This bank that [Iraqi bank friend in Michigan] Aki is at has a purpose. But it has no lower denomination notes.
Why?
Because they follow American banking laws.When a Middle Easterner or anybody takes a dinar into Aki's bank, they will be converted physically or electronically into American dollars. This bank servers a purpose.
Why would these banks, like Aki's, be there if there was no rate change coming?
It's all about the money. Aki is a businessman. Here's there to make money with his boss. They're going to do very well especially that there are 100's of these centers around the world...
I would say Aki's bank is for the exchange of the three zero notes or Aki's bank would not even exist because there would be no reason for them to exist.
The Iraq Stock Exchange and the Iraqi Securities Authority signed on Wednesday a strategic memorandum of understanding with the Abu Dhabi Securities Exchange to join the “Tadadal” platform for digital trading, thus becoming the ninth member of the platform.
The Iraq Stock Exchange said in a statement received by “Economy News” that “the signing ceremony was held at the headquarters of the Abu Dhabi Securities Exchange, and this step comes within the framework of strengthening joint cooperation between the two sides, based on the initial agreement announced between the Iraqi Securities Authority and the Abu Dhabi Securities Exchange in January 2025, with the aim of enhancing joint cooperation between the capital markets in the two countries.”
She added that “the agreement aims to consolidate cooperation frameworks in multiple fields, including technology and innovation, the development of trading and post-trading systems, and the exchange of best practices and technologies in the fields of trading,” explaining that “this memorandum will contribute to paving the way for investors and brokerage companies for direct and smooth trading between the Abu Dhabi Securities Exchange and the Iraq Stock Exchange, as the “Tadalal” platform allows brokerage companies in both markets to access other markets remotely, contributing to enhancing the interdependence between markets, and enabling Iraqi investors to access regional and international investment opportunities.”
“By taking advantage of the Tadala platform, investors in member markets will be able to participate in the initial public offerings between them, which contributes to highlighting the advantages of cross-border trading and expanding the investment horizons,” she said.
The Chairman of the Iraqi Securities Authority, Faisal Al-Himas, praised this step, stressing that “the accession of the Iraqi market to the ‘Exchange’ platform is a paradigm shift in the process of developing the infrastructure of the financial market in Iraq.”
He added that “this platform will enhance the opportunities of regional partnership and economic integration with the Arab capital markets, which contributes to opening wider horizons for investors and reflects the Authority’s commitment to supporting the digital transformation in the Iraqi financial market.”
In turn, the Executive Director of the Iraq Stock Exchange, Jimmy Understand Thomas, said: “We are proud to have the Iraq Stock Exchange joined the Titadal platform for digital trading, as this represents an important step towards developing the Iraqi financial market and enhancing its accession with regional markets.”
She pointed out that “this cooperation with the Abu Dhabi Securities Exchange comes in line with the efforts of the Iraqi government to promote economic growth and increase investment, which supports the government’s objectives in promoting economic openness and developing financial infrastructure.”
For his part, the CEO of the Abu Dhabi Securities Exchange Group, Abdullah Salem Al Nuaimi, said: “This memorandum of understanding marks a milestone in the cooperation between the Abu Dhabi Securities Exchange and the Iraq Stock Exchange.”
He added that “this cooperation enhances the position of the Iraq market within the regional system, by increasing market activity, and providing a wider range of opportunities for investors by providing access to diverse investment options in companies listed in both markets.”
He continued: “The platform also provides access to more than 7.5 million investors for member exchanges, and includes more than 490 listed companies, as 2025 witnessed a doubling of trading activities between member financial markets compared to 2024, reflecting the platform’s position in the regional financial landscape.”
In addition to the Abu Dhabi Securities Exchange, the Tamdal platform currently houses a range of prominent exchanges in the region, including the Bahrain Stock Exchange, the Muscat Stock Exchange, the Astana International Stock Exchange, the Kazakhstan Stock Exchange, the Central Asia Stock Exchange, the Armenia Stock Exchange and the Amman Stock Exchange, while talks are currently underway with a number of other financial markets to join the platform.
Exchange provides a full range of trading opportunities for investors in member markets, through seamless and flexible solutions that support business development and expansion of investment, and contribute to promoting sustainable economic growth.
The “Tabadal” platform confirms the commitment of the Abu Dhabi Securities Exchange (ADX) to developing an advanced technological infrastructure and expanding investors’ access to the markets, through strategic partnerships with leading financial markets, especially in Arab countries such as Iraq. This also contributes to enhancing liquidity, providing innovative trading solutions, and supporting the integration of financial markets at the regional and international levels.
Comment: ...the HSBC had VND on their screens yesterday morning.
MarkZ: That would fit what my contacts are seeing. One of those is a HSBC.
Question: How much did it say the VND was worth? VND .49 or 2.50?
MarkZ: That is not nearly the rates my contacts have seen...There are a good chance that all rates being seen are testing rates…may or may not be the rates we will get.
Question: do have a guess on the IQD rate? MarkZ: Logically – what makes the most sense is $4 - $6 bucks. IMO
An Expert Identifies The Missing Link To Diversifying Sources Of Income And Achieving Economic Reform.
Economic expert Qusay Safwan identified the missing link in the path to diversifying sources of income and achieving economic reform in Iraq. He noted that controlling corruption begins with the banking sector and is linked to understanding revenue risks and the behavior of the Iraqi dinar at border crossings.
During his appearance on the "Free Talk" program on Al Furat TV channel this evening, Safwan explained that "economic diversification cannot be achieved without regulating these outlets, which are a tool for protecting local production and developing investment." He indicated that "reforming the financial sector requires rehabilitating banks through mergers, partnerships, and specialization."
He stressed that "these goals are still far off, and the real beginning lies in developing the human resources working in the banking sector, especially since most Iraqi banks focus their grants on the housing sector."
Safwan explained that "the Central Bank's policy is geared toward supporting financial inclusion, as 40% of individuals use electronic banks, a matter linked to suspicions of money laundering." He called for "providing incentives to credit card holders and motivating them through tax exemptions and import facilitation, which would enhance the conversion of the dinar into hard currency through the Central Bank."
He pointed out that "the Central Bank alone cannot reform the Iraqi economy in light of the lack of control over border crossings and the citizens' lack of trust in banks," emphasizing that "investing in technology is costly, but necessary and yields tangible benefits for shops and businesses."
Safwan revealed that "Iraq has $100 billion in the US Federal Reserve," emphasizing "the need to eliminate intermediaries and build a direct relationship between producers and consumers," warning that "corruption is greater than the support available at the outlets."
He added, "Private banks were established as joint-stock companies, and their shares are now denominated below the dinar mark and are available to all." He called on the Central Bank to "address the dispute between it and the Companies Registrar regarding dividend distribution, which is prompting small shareholders to sell their shares to major investors."
Safwan concluded by saying, "Government banks need a comprehensive restructuring to drive development and create investment portfolios for agricultural, industrial, and commercial cities." He also highlighted the need to integrate the local market with global markets, similar to the Gulf banks, and attract $350 billion domestically. LINK
Kurdistan's Finance Ministry Announces The Transfer Of More Than 48 Billion Dinars Of Non-Oil Revenues To Baghdad.
Money and Business Economy News – Baghdad The Kurdistan Regional Government's Ministry of Finance and Economy announced on Tuesday that the federal treasury's share of non-oil revenues for March of this year has been transferred to the federal Ministry of Finance's account.
The ministry stated in a statement received by Al-Eqtisad News that “the transferred amount amounted to 48 billion, 205 million, and 765 thousand Iraqi dinars, and it was deposited in cash into the Federal Ministry of Finance’s bank account at the Erbil branch of the Central Bank of Iraq.
”
The Kurdistan Regional Government's Ministry of Finance and Economy previously transferred approximately 52 billion dinars in non-oil revenues to the federal treasury in Baghdad in February. https://economy-news.net/content.php?id=54714
Member: Mark How much of the bonds need to be processed before we go for 4B appointments?
MZ: I was always told somewhere between 30%- 40% would need to be processed before they pull that trigger
MZ: On the bond side I know some folks with big meetings today. We will see if they do indeed get their funding. We are seeing great movement and daily updates of great progress this week and last. The question is : When do we reach the crucial mark before they release the currencies???
Member: I wonder how many layers are there between your T3 guys and T4?
MZ: I was always told we would get our announcements within a few days of hitting the 30-40 % . I think we are approaching that threshold now.
UN Official: Iraq Is Witnessing Remarkable Progress In Various Fields And The Importance Of Continuing Its Partnership With The United Nations.
Time: 04/22/2025 10:55:59 Read: 2,445 times {Political: Al Furat News} The Undersecretary of the Ministry of Foreign Affairs for Bilateral Relations, Mohammed Hussein Mohammed Bahr Al-Ulum, received today, Monday, at the headquarters of the Ministry of Foreign Affairs in Baghdad, the Under-Secretary-General of the United Nations for Operational Support, Atul Khare, and his accompanying delegation, within the framework of joint coordination to implement UN Security Council Resolution No. (2732) regarding the termination of the mandate of the United Nations Assistance Mission to Iraq (UNAMI).
During the meeting, the Undersecretary of Foreign Affairs expressed, according to a statement from the ministry, a copy of which was received by {Euphrates News}, "the Iraqi government's appreciation for the important role played by the UNAMI mission since its establishment until today,
stressing that the relationship between Iraq and the United Nations will enter a new phase of cooperation and partnership, based on the priorities of the next phase and the positive developments witnessed in Iraq."
The two sides discussed, according to the statement, "the mechanisms for implementing UN Security Council Resolution No. 2732, to ensure a smooth transition of the mission's tasks.
The Undersecretary affirmed Iraq's keenness to provide all facilities to ensure the implementation of this process in an organized manner, stressing Iraq's firm commitment to continuing constructive cooperation with the United Nations and its specialized agencies, based on its belief in the vital role played by the international organization in supporting stability and enhancing economic development efforts at the regional and international levels."
For his part, Khare praised the remarkable progress Iraq is witnessing in various fields and commended the Iraqi government's approach to consolidating internal stability and strengthening regional cooperation frameworks. He also emphasized the importance of continuing the partnership between Iraq and the United Nations as a fundamental pillar for supporting security and achieving sustainable development.
At the conclusion of the meeting, Khare expressed his appreciation for the Iraqi government's fruitful cooperation in the context of the gradual winding down of UNAMI's work, emphasizing that this cooperation represents a model of constructive coordination between member states and the United Nations. LINK
Coffee with MarkZ, joined by Andy Schectman. 04/23/2025
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: good Morning Mark, Mods and Members!!!
Member: Please Lord let today be THE DAY!
Member: Mark How much of the bonds need to be processed before we go for 4B appointments?
MZ: I was always told somewhere between 30%- 40% would need to be processed before they pull that trigger
MZ: On the bond side I know some folks with big meetings today. We will see if they do indeed get their funding. We are seeing great movement and daily updates of great progress this week and last. The question is : When do we reach the crucial mark before they release the currencies???
Member: I wonder how many layers are there between your T3 guys and T4?
MZ: I was always told we would get our announcements within a few days of hitting the 30-40 % . I think we are approaching that threshold now.
Member: Bo Polny showed an interesting financial chart from 1929 and this year it looks exactly the same
MZ: We are in a depression cycle similar to 1928….Without a reset – this is scary. They are sure talking a lot about a reset……I mentioned this last night but Jim Rickards ( a economist) just said that $157 Trillion in a sovereign fund for the US would unleash prosperity in the US like nothing we have ever seen before. I think this is interesting timing.
Member: Franks bank contact bluntly said new currency at the CBI!!!
Member: Frank26's bank contact, Aki, told Walking Stick yesterday that the lower notes are in the CBI.
MZ: I am hearing those stories too…including cut sheets. But I have not seen any in circulation yet. But I believe they are printed and ready.
Member: BREAKING: The Abu Dabi (UAE) securities exchange ( ADX) signed an agreement with the Iraqi stock exchange and to join the Tabadul platform
MZ: “Parliamentary finance rules out adjusting the price of a barrel of oil” right now there are mechanisms in the budget to adjust the price of oil down to $60 a barrel. There is no need to panic.
Member: A golf buddy works in Iraq. He was back this week and said the Dollar is illegal there now. So that was confirmed from someone that works there
MZ: “Americans to extend their stay in Iraq for another 3 years” With Isis possibly gaining ground in Syria….Iraq and the US sat down to extend security guarantees. This is separate for the UN missions.
Member: If you do the math, gold will need to be$10k/ounce to cover the paper dollars in circulation
Member: Mark, what do you think of the rumor from Iraq stating they’re looking at changing the rate to $1.32?
MZ: I have never seen the rate of $1.32. Don’t remember seeing Iraq saying that.
Member: Bruce said the dong rate will be higher than we think
MZ: I keep being told that as well.
Member: I heard that Vietnam is talking with the US Treasury ad setting everything up
MZ: That is exactly what they are doing. Vietnam is right now in open talks with our Treasury. The US says it’s time to stop manipulating your currency and raise it.
MZ: “ Digital currency and the dollar” BRICS has been trying to come up with a currency to stop using the USD. Trump is pushing them to not abandon the dollar. What would other options be? How about a gold backed digital currency…this would solve all the problems.
They are also talking about a future system they are already working on. The Amberge system. I am trying to figure out what that is. More on that later.
Member: 2 dinar websites put out to expect notifications tomorrow. Never heard specific dates before, but hope they are right…...
Member: After watching this, we’ll have to watch the John Dowling podcast with Mark Z.
Member: People think we have no power here to make this reset happen. We get what we focus on. We have two options: depression, both mentally and economically; or hope of a reset and abundance and prosperity.
Member: I can't wait to retire.... What a great time to be alive.
Member: I think we are exactly ready to Re- value I’m not scared, and I am seeing too many things going on with many coms, the waiting is just difficult
Member: May you all have a beautiful and blessed day!
Member: Thank you Mark for all these years for giving us information … God bless you and your family
Andy Schectman from Miles Franklin joins the stream. Please listen to the replay for his information and opinions
GOLDILOCKS: IMPORTANT NEWS REPORTED: Vietnam signs VND currency agreement with the United States
Chapter Summary: The Vietnamese Dong and Global Currency Negotiations
Introduction
In recent discussions surrounding global currency markets, the spotlight has fallen predominantly on Vietnam and its currency, the Vietnamese Dong. The channel Goldilocks Global Banking News, hosted by Freedom Fighter, encapsulates the significance of the ongoing trade dynamics and their implications for the Revaluation of Global Currencies (RVGCR).
This chapter delves into the factors influencing the Vietnamese Dong’s value, particularly in light of its trading relationship with the United States. By focusing on the trade surplus, currency manipulation,
and the twenty-first-century challenges of tariff negotiations, we aim to clarify the ongoing discourse and its relevance to both Vietnamese economic policy and broader global trade systems.
The dialogues present a unique opportunity to examine key economic terms such as trade surpluses, currency valuation, tariffs, and non-tariff barriers. Through this analysis, we hope to highlight how trade relations between the US and Vietnam could evolve, potentially impacting currency values and global trade balances.
The Vietnamese Trade Surplus
Vietnam generates a trade surplus of $123 billion with the United States, making it the largest trading partner for Vietnam.
Major exports include automobiles, semiconductors, agricultural products, and handmade goods which significantly contribute to this surplus.
Currency manipulation plays a critical role, as the large surplus allows Vietnam to maintain a low value for the Dong. This phenomenon occurs because the US has historically been less competitive in exporting to Vietnam due to trade barriers.
The trade surplus has created a structural imbalance where the US incurs deficits, raising questions about fairness in global trade practices.
US-Vietnam Trade Negotiations
Current negotiations focus on achieving a trade balance, emphasized by the efforts of the Trump administration to bring equilibrium to trade relations.
Central to these discussions are increased US imports to Vietnam, aiming to ease the surplus and reduce pressure on the Vietnamese Dong.
Vietnam has indicated a willingness to purchase US defense products, agricultural goods, and commercial aircraft, which represent a strategic shift in their trade policy.
Key Elements of Proposed Trade Agreements
Lowering tariffs: Vietnam must reduce tariffs imposed on US goods to foster trade equilibrium.
Addressing non-tariff barriers: Vietnam needs to remove restrictions that inhibit US imports, thereby broadening market access for US companies.
Currency policy reforms: Vietnam should move towards ceasing the devaluation of the Dong, allowing exchange rates to be determined by the global market.
These strategies not only seek to improve trade balances but are also expected to bolster investor confidence in Vietnam, thereby leading to more substantial foreign investments.
Progress in Negotiations
The current state of negotiations shows that Vietnam has begun making concessions ahead of final agreements. Significant steps towards agreeing on trade terms have occurred following a 90-day pause in discussions.
Recent meetings between Vietnam’s leadership and US trade representatives have confirmed the beginning of technical analyses focused on trade and currency dynamics.
The shift towards a more collaborative economic relationship is expected to stabilize the value of the Vietnamese Dong over time, contingent on comprehensive reform implementation by Vietnam.
Currency Manipulation and Future Outlook
Currency manipulation remains a key point of contention during negotiations, as tackling this issue will be essential for balancing trade.
Vietnam’s ability to negotiate effectively with the US could set a precedent for nearly 80 other countries currently in similar discussions regarding trade reforms.
The importance of these negotiations cannot be overstated, as successful outcomes could have long-term implications for not only Vietnamese currency but also global markets.
Community Insights and Proactive Measures
The discussions emphasize the necessity of public awareness regarding upcoming changes in currency valuations, encouraging individuals to prepare and position themselves advantageously for potential future economic shifts.
The speaker asserts the importance of proactivity and education in financial management, urging viewers to remain informed and involved.
This advice resonates with current economic realities where shifts in policy can lead to dramatic changes in personal and national wealth.
Conclusion
In summary, the potential revaluation of the Vietnamese Dong is a multifaceted issue deeply intertwined with global trading practices and US-Vietnam relations.
Key takeaways include the distinct roles of trade surpluses, tariff negotiations, and currency policies in shaping economic landscapes. Ongoing discussions signal a shift towards more equitable trading practices, which, if successfully implemented, could enhance the stability and value of the Vietnamese Dong, impacting not only Vietnam but the broader global economy as well.
The implications of these discussions extend far beyond national borders, as they embody fundamental shifts in global trade dynamics, necessitating vigilance and proactive strategies from both individuals and nations alike.
Understanding these developments is essential for grasping the complexities of the evolving economic landscape and for anticipating the potential transformations brought about by these negotiations.
FRANK26: "THE RESERVES ARE GOING TO SUPPORT THE NEW EXCHANGE RATE... FINE WITH ME"......F26
Al-Sudani's advisor: Iraq's foreign exchange reserves are fine.
4/21/2025
- Baghdad
The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Monday that Iraq's foreign exchange reserves cover 100% of the national currency.
Saleh said, "Iraq's foreign currency reserves still have the capacity to cover 100% of the national currency issued, and that commercial efficiency has been achieved."
He added, "These reserves still cover the country's imports for three months, and therefore foreign reserves are considered stable." He pointed out that the development of the optimal external use of foreign currency is achieved through a careful balance between the role of these reserves in maintaining the foreign purchasing power of the dinar and the stability of the exchange rate, and the standard of reserve efficiency, which is one of the functions of monetary policy as an independent body in achieving its goals of monetary stability and economic development.
On March 31, 2025, the Central Bank of Iraq revealed that the central bank's net foreign reserves for 2024 amounted to 130.81 trillion dinars, a 10.18% decrease compared to the same period in 2023, when they reached 145.64 trillion dinars. The Central Bank confirmed that the reason for the decline in foreign reserves is due to the rise in domestic public debt, which is intended to cover the real deficit in the state's general budget.
