Thursday, June 26, 2025
The Central Bank Sponsors The Launch Of The Al-Fursan Entrepreneurship Program
The Central Bank Sponsors The Launch Of The Al-Fursan Entrepreneurship Program
June 25, 2025 The Central Bank of Iraq hosted a celebration announcing the launch of the "Fursan" program, an Iraqi-inspired initiative under the direct sponsorship of His Excellency the Governor of the Central Bank of Iraq.
The program serves as a realistic investment program for entrepreneurs, aiming to create real opportunities for youth and enhance the role of the private sector in developing the national economy.
In his speech at the ceremony, His Excellency the Governor of the Central Bank of Iraq, Mr.
Ali Mohsen Al-Alaq, emphasized that the Central Bank of Iraq has prioritized supporting projects related to the youth segment, which contributes to the local economy with products and services that contribute to raising the gross domestic product, ensuring an effective role in this regard.
In light of the recent reforms, the Iraqi banking sector can also focus on supporting income-generating small and medium-sized enterprises that directly support the private sector.
The "Fursan" program helps participants access investment opportunities and obtain soft loans for those who qualify. The program also provides a safety net that ensures the continuity of promising projects and prevents their failure.
These projects serve as incentives for innovative youth and create new job opportunities
that contribute to sustainable economic and social development in Iraq.
A group of young people presented their projects, highlighting the products they offer and their assessment of market demand and available potential, with the hope that other entrepreneurs will join them in the future. Central Bank of Iraq Media Office June 25, 2025 https://cbi.iq/news/view/2917
FIREFLY: Skies are full of fire here in the northern Iraq where those bases were
Frank26
[Iraq boots-on-the-ground report]
FIREFLY:Television says Iran says they have no intentions of closing the Straits of Hormuz.
FIREFLY:We have bases here right now inside of Iraq. We took cover. We are being hit hard tonight from Iranian militants. We heard they blew up a big radar installation and drones are hitting bases here. All hell has broke out inside Iraq...
FRANK: Don't worry about it.
Take cover for now. Protect your family...
FIREFLY: We see in our skies here, bases are blown up. We can see it from the distance...Skies are full of fire here in the northern Iraq where those bases were.
FRANK: It was no big deal. They didn't do much of any damage.
FIREFLY: Television is saying some of the rockets missed their mark...It was the Iranian backed militants here that did it with Iran's help.
The IMF Mission Commends The Central Bank Of Iraq
The IMF Mission Commends The Central Bank Of Iraq
June 25, 2025 The International Monetary Fund (IMF) mission, led by Jean-Guillaume Poulain, which met with the Central Bank of Iraq (CBI) from May 4 to 13, 2025, commended the CBI's work in several areas. It confirmed that the CBI has made progress in absorbing excess liquidity by increasing the issuance of short-term debt instruments (CBI drafts and Islamic certificates of deposit), adjusting subscription limits for banks in CBI auctions, and improving liquidity forecasting tools and practices.
The statement issued by the International Monetary Fund stated that the mission commended the efforts of the Central Bank of Iraq to successfully transition to the new trade finance system, indicating that commercial banks now process trade finance transactions entirely through their relationships with correspondent banks.
The Central Bank of Iraq has achieved significant progress by transitioning to the new system for financing foreign trade through correspondent banking channels, instead of relying on the daily dollar auction.
This development has contributed to enhancing banks
' compliance with international transparency requirements, such as
OFAC regulations and others, and improving their relationships with global correspondent banks.
This step has resulted in
narrowing the gap between the official dollar price and its parallel price, indicating relative success in
curbing illegal speculation and
reducing currency leakage.
The foreign exchange management methodology has become more effective compared to the past,
especially with the Central Bank of Iraq continuing to take complementary measures, such as requiring traders to submit genuine import invoices and simplifying procedures for obtaining hard currency for legitimate importers.
In parallel, the mission welcomed the progress made in the use of digital technology and the Iraqi authorities' intention to implement a comprehensive reform of the banking sector, calling for its completion to be accelerated without delay.
The Iraqi government, with technical support from the International Monetary Fund and other international bodies, has begun implementing initial steps to reform government banks, including
auditing the quality of assets,
estimating the size of non-performing loans, and
developing a draft plan to restructure the two largest government banks (Rafidain and Rashid) financially and administratively.
The Iraqi financial sector has also witnessed an increasing trend towards digitization and the adoption of modern financial technology, whether in electronic payment services or the launch of banking platforms via the Internet and mobile phones.
The International Monetary Fund believes that these
technical improvements, along with
steps to enhance cybersecurity in banks,
promote financial inclusion,
expand private banking activity, and
restructure government banks,
will
enhance the efficiency of financial services and
increase foreign correspondents' confidence in the Iraqi banking sector.
The report also noted the
expansion of private banks' activity in trade finance and small business financing, with expectations of
further increases if obstacles are removed.
Initiatives to
enhance financial inclusion,
modernize electronic payment systems, and
reduce reliance on cash in the economy
are also crucial to strengthening banking depth.
The Central Bank of Iraq launched a national financial inclusion strategy during the first half of 2025.
The report also included important recommendations to enhance financial stability and facilitate the transfer of monetary policy effects to the real sector, including: reducing the phenomenon of dollarization, in which Iraq has made significant progress over the past two years;
the importance of accelerating the completion of the
comprehensive restructuring plan for banks to enhance their solvency; the importance of
strengthening corporate governance for banks,
developing digital infrastructure and cybersecurity for the financial sector;
strengthening the role of private banks in financing economic development; and
continuing to improve anti-money laundering and counter-terrorism financing procedures.
It is also important for the Central Bank of Iraq to continue increasing the issuance of short-term securities to ensure better management of excess liquidity. Central Bank of Iraq Media Office https://cbi.iq/news/view/2916
AJ 📢The Parallel Market dropped again intarday in Iraq
AJ
The Parallel Market dropped again intarday in Iraq.
I created a table for you showing the Parallel Market in Iraq.
The 1st and 2nd columns display the opening and closing prices.
The 3rd column shows the intraday price change, and the 4th column reflects the daily rate of change from the previous day's closing price.
Example
Intraday Al-Harithiya stock exchanges in Baghdad: Down -3 dinar
Daily Al-Harithiya stock exchanges in Baghdad: Down -4 dinar See attached Table
The recent prices confirm that the Iraqi Dinar is gaining strength against the US Dollar across multiple regions in Iraq.
I also noticed a narrowing gap between buying and selling rates, which indicates stable market conditions and growing confidence in the Dinar.
This suggests that reduced speculation and a tighter supply of Dinars are driving this movement. Traders appear more confident in the local currency, particularly as regional tensions with Iran are easing.
The recent ceasefire between Iran and Israel may have indirectly bolstered this optimism by reducing pressure on regional markets. This likely contributed to yesterday’s significant drop of 21 Dinars in the parallel market...a rare occurrence.
Additionally, the Central Bank of Iraq (CBI) continues to manage liquidity effectively. Its regular interventions in the dollar auction system help stabilize exchange rates and reduce volatility.
The CBI has announced plans to unify the parallel market rate across Iraq with the official rate of 1,320 IQD per USD in the second half of 2025. This alignment is a critical step 1st for a currency revaluation.
The CBI is collaborating closely with exchange shops to monitor currency flows and ensure fair pricing. It has stated that the parallel market rate will gradually align with the official rate to avoid shocking the markets.
As the Dinar strengthens, importers benefit from more favorable rates when purchasing goods abroad. This leads to lower retail prices and reduced inflationary pressure for Iraqi citizens.
The data also shows that demand for the US Dollar remains relatively stable, but the increase in Dinar strength suggests a growing preference for holding the local currency.
As the Dinar gains against the Dollar in key markets like Baghdad and Erbil, I believe the next few weeks will reveal a trend of the pace of declining rates to gauge how long this may take.
By the way, tomorrow is a holiday in Iraq. You can put questions in comments
AJ
AJ
Masrour Barzani: Baghdad will send a delegation to the Kurdistan Region to resolve the salary issue.
Masrour Barzani: Baghdad will send a delegation to the Kurdistan Region to resolve the salary issue.
Kurdistan Regional Government Prime Minister Masrour Barzani announced on Wednesday that the crisis of halting funding for salaries of public sector employees in the region is on its way to being resolved, and that he had communicated with the Chief Justice of the Supreme Judicial Council, Faiq Zidan, and Prime Minister Mohammed Shia al-Sudani in this regard.
This came during a press conference held today in Erbil, where Masrour Barzani addressed the conflict in the region, saying, "The announcement of a ceasefire between Israel and Iran is in the interest of all countries in the region, and we hope it will be a step toward restoring peace and stability throughout the region."
He added, "We in the Kurdistan Region have done our best to stay out of this war and chaos, and we must express our gratitude to Prime Minister Mohammed Shia al-Sudani, who has sought to spare Iraq from entering this conflict."
Regarding the issue of salaries, the Prime Minister of the Kurdistan Region stated, "For the past two months, the salaries of Kurdistan Region employees have not been paid legally, which is considered an unconstitutional measure. We believe it is unacceptable to link the salaries of Kurdistan Region employees to any political dispute or conflict. "
He stressed that "we will not give up any constitutional right of the people of the Kurdistan Region in any way, and we will continue to defend it," adding that "during the past period, there was not a day when we were not busy searching for a solution to this crisis."
Masrour Barzani continued, "We have been in contact with officials. Yesterday, I spoke with the head of the Supreme Judicial Council and the prime minister, and I assured them that we are keen to move towards resolving this crisis. They welcomed this and announced their readiness to send a delegation within the next two days to address the salary issue."
The Prime Minister of the Kurdistan Regional Government spoke about the suspension of Kurdistan's oil exports, saying that because of this, "the Iraqi economy and the Kurdistan Region's economy have incurred losses exceeding $25 billion, and to date, the federal government has not compensated the citizens of the Kurdistan Region for these losses."
He stressed that "to resume Kurdistan's oil exports, an agreement must be reached with all parties, especially with the oil companies operating in the region, which are demanding guarantees for extraction costs."
Masrour Barzani continued, "We were waiting for a ruling from the Federal Supreme Court in Iraq that would benefit the salaries of Kurdistan Region employees, but the court was dissolved with the resignation of a number of members. Now we are pinning our hopes on the Supreme Judicial Council in Iraq to resolve the salaries issue."
The KRG Prime Minister continued, "If an agreement is not reached with the Iraqi government to resolve the salary issue, we will resort to internal revenues, reducing expenses, or any other means possible to secure the financial rights owed to the people of the Kurdistan Region, according to our capabilities." He added, "However, I am optimistic about reaching a radical solution with the federal government on this matter." link
TIDBIT FROM KAPERONI
Kaperoni
There is no significant RV of the Iraqi dinar. A currency value can definitely go up, but its value is the result of an increase in economic success and GDP.
Iraq has been working over the last several years to reintegrate its banking system in the global financial system.
Such steps will encourage investment, rebuilding of infrastructure, diversifying revenue away from oil. This is how an economy prospers.
Half a year without an actual budget... Where have the government's plans gone
Half a year without an actual budget... Where have the government's plans gone
Amid the financial and economic challenges facing the country, the 2025 budget file continues to stir controversy within political and parliamentary circles, amid a state of anticipation and growing public concern.
Despite more than half a year having passed since the start of the fiscal year, the budget schedules remain absent from the halls of Parliament, reflecting a state of government confusion and a lack of seriousness in dealing with one of the country's most important financial and strategic issues. This delay comes at a time when the Iraqi public is witnessing increasing pressure to improve services, implement stalled projects, and meet citizens' basic needs.
Meanwhile, the ambiguity surrounding the date for submitting the schedules is paralyzing the legislative and oversight process concerned with setting priorities and ensuring the fair and efficient distribution of resources.
*
Violation of laws
and regarding this issue, member of the Parliamentary Finance Committee, Hussein Mounes, confirmed that the government is still not serious about sending the budget tables to the House of Representatives.
In an interview with Al-Maalouma News Agency, Mounes said, “The government violated the Financial Management Law by delaying the submission of the 2025 general budget schedules, considering this a disregard for the role of the House of Representatives and its oversight and legislative work.”
He added, "The Iraqi government is not serious about sending the tables to the House of Representatives, expressing his surprise at the government's failure to send the budget law tables to the House, despite six months having passed since the start of the fiscal year." link
BRUCE UPDATE
Tues. 24 June 2025 Bruce
- On Mon. 23 June the rate on the Riel was over $3.
- On Tues. 24 June Redemption Center screens showed 9 new rates as solid, with 15 more to go.
- A Source said that on Thurs. 26 June “we would be smiling.” Several sources said in another couple of days we would be getting notification. Another source said we would be notified late Thursday 26 June.
- As of Tues. evening 24 June Bond Holders were flying into Reno and say they will have access to their funds on Thurs. or Friday.
- Redemption Centers have higher rates than if you exchange at a bank.
- The Contract Rate on the Iraqi Dinar was in the mid $90.
- NESARA should be announced and started by Fri. July 4.
Central Bank: Iraq's foreign exchange reserves are sufficient to cover 13 months of imports
Central Bank: Iraq's foreign exchange reserves are sufficient to cover 13 months of imports.
The Central Bank revealed on Wednesday that Iraq's foreign currency reserves are sufficient to cover 13 months of imports.
The bank said in a report seen by Shafaq News Agency that "import coverage is often viewed as a measure of the number of months that imports could be sustained if all foreign currency inflows were to cease," noting that "the global standard used is for reserves to cover all imports for a period of six months."
He added, "The ratio of foreign reserves to imports has decreased from 16 months at the beginning of 2024 to 13 months at the beginning of 2025," indicating that "despite the decrease in the ratio, Iraq's reserves will still cover imports for 13 months if Iraq does not receive foreign currency revenues." link
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🌟 FIREFLY UPDATE: Iraq’s Currency Shake-Up Could Reshape the Economy 💰 #frank26 #dinarrevaluation
Read also: Q & A WITH GINGER ABOUT HOW PEOPLE WILL RECEIVE NOTIFICATIONS AND THE PROCESS IN THE REDEMPTION CENTERS
