Tuesday, July 8, 2025
The Government Has Taken Major Steps To Promote Electronic Payments And Financial Inclusion, Achieving Qualitative Leaps In 2025
The Government Has Taken Major Steps To Promote Electronic Payments And Financial Inclusion, Achieving Qualitative Leaps In 2025.
Money and Business Economy News – Baghdad A government source revealed the steps taken by the Iraqi government to develop and promote electronic payments, noting that since the Iraqi government assumed office more than two and a half years ago, the importance of a strong and efficient banking system has become clear to it.
The development of electronic payments and increased financial inclusion in the country are among its most prominent features.
The government and the Prime Minister have considered this goal a top priority, as it is a key objective in the strategies of countries around the world, given its close connection to economic stability and growth.
The source added to Al-Eqtisad News that the Iraqi government has taken a series of decisions and measures through the Council of Ministers and the Ministerial Council for the Economy, in addition to the committees emanating from them, which include representatives from the government, the Central Bank, and the private sector, to monitor this aspect.
These committees include the Electronic Payment Performance Monitoring Committee, the Electronic Payment and Financial Inclusion Stimulation Committee, the Digital Transformation Committee, and the Digital Transformation and Electronic Payment Process Evaluation Committee in Iraqi Ministries and Government Institutions.
He explained that Prime Minister Mohammed Shia Al-Sudani had previously issued a set of decisions and directives based on reports received from these committees, which led to significant progress in several indicators in this field during 2025, as
:
- The percentage of digital transformation of Iraqi ministries and institutions rose to about 32%, after it was less than 18% in 2022, with a growth rate of
It reached 78%.
The number of bank accounts reached approximately 20 million, compared to 8 million in 2022, a growth exceeding 150%.
The number of bank cards also increased to 21-22 million cards (of all types, including credit, debit, and prepaid), up from 16 million cards in 2022, representing a growth rate of 38%.
The number of point-of-sale (POS) devices reached approximately 62,000, up from less than 10,000 in 2022, a growth of 520%.
The number of ATMs reached approximately 7,531, up from approximately 2,223 in 2022, a growth rate of 239%.
Total electronic payments reached approximately 1.37 trillion dinars in May 2025, compared to less than 90 billion dinars at the end of 2022, with a growth rate of 1,400%.
Data indicates that financial inclusion in Iraq has reached approximately 40%, up from less than 10% in 2019.
The source revealed that "the Prime Minister recently issued a number of future decisions related to a number of important projects in the field of electronic payments, stressing the need to complete them as soon as possible.
These projects include:
- Activation of the local card, which is expected to be completed by the end of 2025.
- Activate the fast payment project.
- Activating the unified electronic collection application.
- Localizing private sector salaries in line with the government sector.
- Establishing a unified center for complaints related to electronic payment transactions, headquartered at the National Data Center.
The source also expected these projects to be completed in less than a year, stressing that their implementation would contribute to Iraq's advancement to a new level among advanced countries in this field. 232 viewshttps://economy-news.net/content.php?id=57098
Central Bank: Inflation fell by 21% and gold reserves rose by 19% in the first quarter of 2025.
Central Bank: Inflation fell by 21% and gold reserves rose by 19% in the first quarter of 2025.
A report by the Central Bank of Iraq revealed that inflation in Iraq fell by 21% in the first quarter of this year, and that remittances abroad declined by 0.6%, while the value of gold reserves increased from 17.8 trillion dinars to 21.2 trillion dinars.
The Central Bank's report stated that these statistics covered the first quarter of this year, specifically the months of January, February, and March.
The report indicated that the overall inflation rate in Iraq fell by 21% in the first quarter of 2025, reaching 2.2%, compared to the last quarter of 2024, when the inflation rate was 2.8%. The
Central Bank's report stated that this decline indicates a decline in the general price level and an improvement in the purchasing power of individuals and institutions in Iraq.
The report stated that the volume of Iraqi currency transfers abroad by the Central Bank decreased by 0.6% in the first quarter of this year, reaching 99.9 trillion dinars.
This comparison is with the fourth quarter of 2024, when the volume of foreign currency transferred abroad at that time was 100.5 trillion dinars.
Money transfers abroad in Iraq are linked to the conversion of Iraqi oil revenues into dollars, which the bank provides to importers at the official exchange rate.
The Central Bank of Iraq indicated in its report that this decline played a role in reducing inflation and maintaining the stability of the general price level in Iraq.
The report stated that the total money supply granted by banks to the private sector in the first quarter of this year grew by 1.1%. link
TNT REPORT: OUR WINDOWS CAME AND WENT
TNT reports that our windows came and went. Even the window just before his show aired, came and went.
The next logical window hasn't expired because they're waiting Hawaiian banks to close so no manipulation can occur.
The CBI didn't post a rate, so "tomorrow is another day". Next window will be overnight tonight. Again Tony said he's about to send everyone to the bank if they don't let this go. There is a bank scheduling people in for tomorrow after 8am.
He is hoping there will be millionaires and billionaires come tomorrow morning. He said Danny his major Dinar/currencies holder will be getting in excess of 50% interest on his invested monies.
Tony was told what the minimum investment interest rate was going to be (15%). He said we should get 20-25% easily.
Oil brings distances closer... Baghdad and Kurdistan on the verge of a formal agreement
Oil brings distances closer... Baghdad and Kurdistan on the verge of a formal agreement
2025-07-08 13:09
The Parliamentary Oil and Gas Committee announced on Tuesday that Baghdad and Erbil have reached a preliminary agreement to end the Kurdistan Region's employee salary crisis. The committee indicated that the agreement may be announced within the next few hours, followed by an official signing and presentation to the Council of Ministers at its scheduled session on Tuesday.
Committee member Sabah Sobhi said in a statement to the official newspaper, followed by Al-Mutala'a, that: "The preliminary agreement stipulates that the regional government will deliver 300,000 barrels of oil per day to the federal government through the National Oil Marketing Company (SOMO), in exchange for the region receiving 46,000 barrels per day for local consumption and refining."
He added, "It is hoped that the agreement will be announced within the next few hours, to be officially signed and presented to the Council of Ministers at its session scheduled for today."
This comes 48 hours after Parliament Speaker Mahmoud al-Mashhadani visited Erbil, where he met with regional officials to discuss resolving the disputes between Baghdad and the region. Prime Minister Mohammed Shia al-Sudani and President Abdul Latif Jamal Rashid also discussed the issue of funding the salaries of Kurdistan Region employees on Monday. link
TIDBIT FROM MNT GOAT
Mnt Goat
Ali Al-Alaq in the CBI is working towards the monetary reform, we have the prime minister Al-Sudani working his magic in the direction of economic reform and his “pet” project of industrial cities.
Article: “IRAQ PLANS TO RECEIVE 4 MILLION CONTAINERS ANNUALLY AT UMM QASR PORT .” WOW!...Umm Qasr Port in Basra is undergoing rapid development
...Iraq is going to be a “clearing house” for the middle east. This means shipment from all over the world will land in Iraq and they be distributed to other countries. This means massive tariff and customs fees for Iraq...
Inflation In Iraq Has Declined And Its Gold Reserves Have Increased. Expert Explains
Inflation In Iraq Has Declined And Its Gold Reserves Have Increased. Expert Explains
Time: 2025/07/07 21:23:08 Read: 825 times {economic: Al-Furat News} Iraq recorded a noticeable decline in the inflation rate in conjunction with the rise in its gold reserves during the first quarter of 2025, in financial and monetary indicators described as positive despite the challenges posed by oil price fluctuations.
Financial expert Salah Nouri explained in a statement to {Al-Furat News} that:
"The decline in the inflation rate is due to a group of factors, most notably the policy of the Central Bank of Iraq in controlling the supply of cash for circulation, in addition to regulating borrowing to finance the private sector at limited rates that contribute to revitalizing the economy without causing a cash surplus".
He added, "The decline in global commodity prices had a direct impact, given Iraq's heavy reliance on imports to meet its needs for goods and merchandise, which was reflected in a reduction in local price levels."
As for the increase in gold reserves, the expert attributed it to the Central Bank's policy of diversifying investment instruments by balancing debt securities in dollars with the purchase of gold, which is a safe store of value.
According to him He stressed that "these policies aim to support and enhance the Central Bank's reserves within its monetary policy orientations."
In the same context, Nouri warned of
"the negative effects of the decline in the prices of exported oil,
which came as a result of OPEC Plus' decisions to increase production,
which may reflect negatively on the state's general revenues and
thus on the implementation of the operational and investment budget items".
He pointed out that "the Federal Ministry of Finance has two options in light of this decline: either reduce spending to maintain the deficit rate specified in the budget, or continue spending and increase the deficit, which will force the government to resort to internal borrowing".
The expert said, "This challenge is directly related to fiscal policy, which requires a careful balance between spending and revenues."
According to an official report issued by the Central Bank of Iraq, the
Iraqi economy witnessed significant shifts in monetary indicators during the first quarter of 2025.
Inflation fell by 21%, while money transfers abroad fell by 0.6%, indicating a relative improvement in the monetary balance and liquidity control.
The report, which covered the months of January, February and March, also showed a significant increase in the value of Iraq's gold reserves, rising from 17.8 trillion dinars to 21.2 trillion dinars, reflecting the Central Bank's reliance on a policy of diversifying assets and enhancing safe havens to protect cash reserves in light of global market fluctuations.
https://alforatnews.iq/news/تراجع-نسبة-التضخم-في-العراق-وارتفاع-احتياطه-من-الذهب-خبير-يوضح
"Iraq is Protecting The Dinar”
"Iraq is Protecting The Dinar”
Mawazine News - Baghdad:
An informed source revealed, on Monday, details about the local card project recently announced by the Central Bank of Iraq.
The source stated, "The local card means a system of payment cards in Iraqi dinars, which the Central Bank of Iraq is responsible for and monitors, and which have simple commissions, given that all its transactions take place within the country and in dinars and do not pass through international networks such as Visa and MasterCard."
He added, "We can liken this to the issue of making local calls at their usual rates, but when we go outside the country, we bear the roaming fees...
Therefore, any bank or payment company in Iraq, according to the new mechanism, can issue a local card to customers, and the customer can also take another card linked to Visa and MasterCard to use outside the country."
He continued, "Therefore, the issue of establishing a local card and what is said about it (that there is a final isolation from Visa and MasterCard) is incorrect. The evidence is that any Western or Arab citizen now has a number of cards in his wallet and is free to use any card according to his needs and ability to bear the fees and other things."
He noted that "many countries have local cards, such as Saudi Arabia (Mada), which also has cards issued by Visa and MasterCard, and America as well (AMERICA EXPRESS, knowing that it owns Visa and MasterCard companies, and even the Emirates (Jeon), Egypt (Meeza), the Netherlands (PIN), India (RUPAY), Russia (MIR), and Singapore (NETS)."
He explained that "these cards work like any other card (withdrawals, purchases, ATMs, points of sale)."
Regarding the features and benefits of the local card, the source pointed out that "one of the advantages is that it operates in dinars only, and that any transaction in dollars or other foreign currencies will continue to pass through the usual international channels."
He added, "Iraq is cooperating with international companies to build the technical infrastructure. The Central Bank already has an advanced national switch built through global partnerships, and the national scheme will operate on top of this same infrastructure with strict adherence to EMVCO, ISO, and PCI standards.
This means that cooperation with international companies is ongoing, and the adoption of a local national brand for payroll or collection operations does not cancel it." Government and reduce reliance on cash," considering that "the project has developmental goals and is part of the reforms to reduce reliance on cash, support the electronic localization of salaries, and increase transparency, not to close commercial doors."
He stressed that "Iraq does not choose isolation, but rather chooses to diversify payment channels, protect local dinar transaction data from external pressures, and establish an infrastructure that can be integrated (rather than separated from the world)."
He continued, saying: "Since 2020, the United States has sought to control dollar flows and reduce cases of non-compliance. Adopting a national scheme in dinars only enables regulatory authorities to set compliance rules specific to local transactions in accordance with international best practices without subjecting them to dollar transaction restrictions, which enhances internal transparency and spares the banking system the burden of controls that do not apply to dinar movement."
He pointed out that "many countries, such as Saudi Arabia (Mada), India (RuPay), Singapore (NETS), and others, have implemented successful national schemes that are integrated with international networks. These countries are allies of Washington, which confirms that a national scheme does not mean international isolation."
He added, "The point is to implement compliance and transparency, not to deny the idea entirely. This is achieved through the parallel reform roadmap represented by the banking sector reform project, which the bank is
TIDBIT FROM MILITIAMAN: We only expect to see a strong and regional and global status for the country of Iraq
Militia Man
Article: "Special representative of the Secretary General of the United Nations in Iraq...
stressing the country has become open to foreign investments...The stability achieved in Iraq did not come by chance but is the fruit of collective will and precious sacrifices.
Iraq distanced itself from the surrounding political problems...We only expect to see a strong and regional and global status for the country of Iraq."
It's so true. Everything that's been happening...the last two and a half to three years has been utterly stellar. It's been phenomenal...It's a testament that Iraq is safe, secure and has sustainability.
The Ministry Of Commerce Announces Plans To Balance The Market And Meet Consumer Needs
The Ministry Of Commerce Announces Plans To Balance The Market And Meet Consumer Needs.
Economy | 06/07/2025 Mawazine News - Baghdad - The Ministry of Trade revealed, on Sunday, its plan to regulate import policy and protect local products. It also confirmed the development of plans to balance the market and meet consumer needs, including adjusting customs duties for a category of imported goods.
Ministry of Trade spokesman Mohammed Hanoun told the official agency, followed by Mawazine News, that "the Ministry of Trade seeks to regulate import policy through a set of plans and procedures aimed at protecting local products while achieving market balance and meeting consumer needs."
He added, "The plans include updating the list of prohibited and restricted goods for import. The ministry periodically reviews and updates the lists of prohibited or restricted goods, in coordination with the relevant sectoral authorities, in line with national production capacities and to prevent the market from being flooded with competing imported goods.
He pointed out that "the ministry has given priority to local products in government procurement, and the ministry adopts a policy of preferring local products in government supply contracts, including ministries and official bodies, in support of national industries."
He explained that "the plans include the effective implementation of the import license system, as import licenses are granted according to well-studied plans based on the needs of the local market and the production capacity of Iraqi factories to prevent random imports that harm national production."
They also include measures to strengthen control over border crossings in cooperation with the General Authority of Customs and security authorities. Control over border crossings is being tightened to prevent the entry of unauthorized or poor-quality goods that harm fair competition."
He continued, "The ministry is adopting a partnership approach with the Federations of Chambers of Commerce and Industry and relevant federations to ensure that import decisions support the aspirations of the Iraqi private sector.
To implement customs tariffs in accordance with protection requirements, the Ministry of Trade is coordinating with the Ministry of Finance to propose amendments to customs duties for imported goods that have a local alternative, thus enhancing the competitiveness of the national product."
He concluded by saying, "The plans include a deliberate openness to international markets while protecting the local market, as the ministry is working to enhance Iraq's trade openness with countries around the world through well-considered trade agreements that guarantee national interests." https://www.mawazin.net/Details.aspx?jimare=263543
TIDBIT FROM MNT GOAT
Mnt Goat
The CBI is still moving forward at a fast pace to complete the monetary reform and follow Dr Shabibi’s plan of 2011.
But the U.S. will have to let go and let it happen. This will end their control over Iraq…finally!
The U.S. has said already they intend to sign-off with caveats.
My contact in the CBI has been placed back on the committee for the Project to Delete the Zeros.
So, this tells us something...Are they deciding now what to do? Is it time?
IRAQ HEADLINES NEWS: IRAQ IS RESOLVING ONGOING OIL AND FINANCIAL DISPUTES!!
IRAQ HEADLINES NEWS
The Iraqi Federal Supreme Court, led by new head Judge Munther Ibrahim Hussein, held its first consultative meeting with full attendance on Monday, reaffirming its neutrality, equal distance from political factions, and commitment to preserving Iraq’s political system, constitutional rights, and the separation of powers. The Court stressed non-interference in legislative or executive actions unless they breach the constitution - statement
: Federal Supreme Court
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#BREAKING: A high-level delegation from the Kurdistan Regional Government (KRG) has arrived in Baghdad for talks with top Iraqi officials aimed at resolving ongoing oil and financial disputes, reports Zoom News' Akam Fahmi.
ADAM STEPHENS UPDATE
Hello my friends...
We are keeping a close eye on what was signed yesterday and what is coming from it. The main pieces of the BBB activate on Monday morning at 9am EST and some went active immediately upon signing.
Let's be very vigilant... I have been seeing a lot of leaves being left on the ground and floating around.
Remember.... Stay Grounded.
A lot is about to happen for the good of the world IN MY OPINION.
I'm going to be sharing some good information with everyone.
Last week, on June 30th, Iraq filed with the IMF a 120 hour extension on the full reveal of the new Dinar rate. Al Sudani announced last Sunday that the people wound get their new rate on July 1st.
We are watching for sometime after Midnight PST tonight for the Dinar to show itself.
Many have been seeing the RLUSD and IQD Dinar fluctuate on Coinbase and other currency systems.
Let's watch closely and see what happens over the next couple of hours and days.
I'm getting excited for everyone here who has been praying and believing for a long as many of you have been.
Adam Stephens
A2Z Dreamz
IRAQ HEADLINES NEWS: Barzani stated that a high-level KRG delegation is currently in Baghdad to address the salary issue “as soon as possible!!
IRAQ HEADLINES NEWS
KDP Deputy Leader and Kurdistan Region Prime Minister Masrour Barzani stated that a high-level KRG delegation is currently in Baghdad to address the salary issue “as soon as possible.” Speaking to his party’s supporters, he described the disputes with Baghdad as “political rather than technical,” accusing the federal government of treating the Region “unfairly and unconstitutionally.”
: Masrour Barzani’s office
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Barzani also reaffirmed the importance of upholding Iraq’s federal system and the constitutional status of the Kurdistan Region.
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#BREAKING: Iraqi PM Mohammed Shia al-Sudani received President Abdul Latif Rashid to discuss the Kurdistan Region salary issue, emphasizing the need to resolve all outstanding issues between Baghdad and Erbil within constitutional and legal frameworks. They also addressed Iraq’s internal situation, regional developments, and shared challenges, stressing the importance of holding parliamentary elections on November 11 – statement
: PM office
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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
