What Else Is in the News?
An important and recurring topic has once again surfaced in Iraqi financial news—the massive amount of currency held outside the banking system.
An article titled:
“Central Bank of Iraq: Currency in Circulation Rises to More Than 93 Trillion Dinars”
raises critical questions about liquidity, public trust in banks, and the timing of major monetary reforms.
“Central Bank of Iraq: Currency in Circulation Rises to More Than 93 Trillion Dinars”
💵 93 Trillion Dinars in Circulation: Why It Matters
According to the Central Bank of Iraq (CBI):
Over 93 trillion dinars are currently in circulation
An estimated
80% of that currency exists outside the banking systemCitizens are hoarding cash instead of depositing it in banks
This is not a healthy economic signal.
Over 93 trillion dinars are currently in circulation
An estimated
80% of that currency exists outside the banking systemCitizens are hoarding cash instead of depositing it in banks
Why does the CBI keep emphasizing this issue?
Because:
Banks lack sufficient liquidity
Monetary reform cannot succeed without funds inside the banking system
The removal of the three zeros requires controlled money flow
Banks lack sufficient liquidity
Monetary reform cannot succeed without funds inside the banking system
The removal of the three zeros requires controlled money flow
🏦 Definition of “Currency in Circulation”
The article clarifies that currency in circulation refers to:
Banknotes issued by the state through the CBI
Paper (and theoretically metal) denominations
Currency outside the vaults of the central bank
While Iraq currently does not circulate coins, the clarification hints at future monetary modernization, especially when lower denominations return.
Banknotes issued by the state through the CBI
Paper (and theoretically metal) denominations
Currency outside the vaults of the central bank
⚠️ Cash Hoarding: An Unhealthy Phenomenon
The CBI openly acknowledges:
High currency circulation and scarcity within banks means citizens prefer hoarding money rather than depositing it.
This behavior:
Weakens monetary control
Slows economic reform
Forces the government toward digital solutions
High currency circulation and scarcity within banks means citizens prefer hoarding money rather than depositing it.
Weakens monetary control
Slows economic reform
Forces the government toward digital solutions
💻 Digital Dinar: Final Testing Stage Nearly Complete
Here is where things get very interesting.
According to a direct CBI contact, shared after a recent call to Iraq:
The final stage of digital dinar software testing is almost complete
Once ready, it enables:
Collection of the three-zero notes
Issuance of new lower denominations
Timing is linked to the election cycle
👉 This strongly suggests that digital dinar implementation and removing the zeros are interconnected events.
The final stage of digital dinar software testing is almost complete
Once ready, it enables:
Collection of the three-zero notes
Issuance of new lower denominations
Timing is linked to the election cycle
⏳ Removing the Zeros: January 2026 Timeline?
The CBI reportedly still plans to:
Remove the zeros before the end of January 2026
However, realism is required.
Remove the zeros before the end of January 2026
Why the Timeline May Slip Again
Several major hurdles remain:
Drafting new laws to combat Iranian-backed armed factions
Parliamentary approval of:
Oil and Gas Law
New arms legislation
Political stability:
Al-Sudani must return
A fully functional cabinet must be in place
🔴 Expecting all of this to finalize in less than two weeks is overly optimistic.
This deadline has already shifted:
September → End of December → End of January
History suggests patience is still required.
Drafting new laws to combat Iranian-backed armed factions
Parliamentary approval of:
Oil and Gas Law
New arms legislation
Political stability:
Al-Sudani must return
A fully functional cabinet must be in place
September → End of December → End of January
🏅 Gold Strategy: Iraq’s Vision for National Wealth
Another critical article titled:
“Six Measures to Protect Gold and Regulate Its Market: Mazhar Saleh Explains Iraq’s Vision for National Wealth”
outlines Iraq’s long-term asset strategy.
“Six Measures to Protect Gold and Regulate Its Market: Mazhar Saleh Explains Iraq’s Vision for National Wealth”
Key Gold Market Reforms
Prime Minister’s financial advisor Mazhar Muhammad Saleh highlighted:
Adoption of a mandatory Iraqi gold mark
Criminalization of unmarked gold trading
Advanced testing using XRF technology
Regulation of gold smelting and imports
Licensing workshops and tightening border controls
Creating a national registry for gold traders
The Gold City Project is central to this vision.
Adoption of a mandatory Iraqi gold mark
Criminalization of unmarked gold trading
Advanced testing using XRF technology
Regulation of gold smelting and imports
Licensing workshops and tightening border controls
Creating a national registry for gold traders
🟡 Is the Digital Dinar Gold-Backed?
In my personal analysis:
The digital dinar will be asset-backed
A significant portion will be backed by gold
Iraq, alongside the United States, is moving toward a gold-standard-based system
This aligns with:
Iraq’s gold accumulation strategy
Market regulation reforms
Global shifts away from fiat currency
The digital dinar will be asset-backed
A significant portion will be backed by gold
Iraq, alongside the United States, is moving toward a gold-standard-based system
Iraq’s gold accumulation strategy
Market regulation reforms
Global shifts away from fiat currency
📈 Gold & Silver: Signals of a New Financial System
From a prophetic and market perspective:
Silver reaching $100 per ounce is seen as a major benchmark
Gold reacts explosively once a gold standard is officially announced
Gold prices already show strong upward trends
These movements reflect systemic change, not speculation.
📌 For deeper insight, visit the Post-RV Investment Section on the blog, where silver trends are explained in detail.
Silver reaching $100 per ounce is seen as a major benchmark
Gold reacts explosively once a gold standard is officially announced
Gold prices already show strong upward trends
⭐ Featured Snippet Summary
Iraq’s monetary reform hinges on digital dinar readiness, election timing, and gold-backed asset strategies. While January targets remain optimistic, the structural foundation for removing the zeros is nearly complete.
Iraq’s monetary reform hinges on digital dinar readiness, election timing, and gold-backed asset strategies. While January targets remain optimistic, the structural foundation for removing the zeros is nearly complete.
❓ Q&A – Frequently Asked Questions
Why is Iraq concerned about currency outside banks?
Because liquidity is required for monetary reform and removing the zeros.
Is the digital dinar ready?
Final software testing is reportedly near completion.
Are removing the zeros and digital dinar linked?
Yes, both appear tied to the election cycle.
Will the digital dinar be gold-backed?
Strong indicators suggest it will be asset-backed, largely with gold.
Is January 2026 realistic?
Highly optimistic; political and legislative hurdles remain.
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MNT GOAT: What else is in the news?
An interesting article pops up, again about the stashes of currency outside the banking system. The article is titled “CENTRAL BANK OF IRAQ: CURRENCY IN CIRCULATION RISES TO MORE THAN 93 TRILLION DINARS”. We must ask ourselves why the CBI keeps hounding on this issue? These trillions of dinars they say 80% of them are outside the banking system. This is critical for needed liquidity in the banks.
In the article the author points out that the issued currency is the money that the state prints and issues through its central bank for the purpose of circulation, and it includes banknotes of various paper and metal denominations circulating outside the vaults of the central bank. Of course, there are no coins of currency circulated but I think the author was just trying to be clear on what the definition is and it could be fully someday. No harm!
The bank explained that the high volume of currency in circulation and its scarcity in banks means that citizens resort to hoarding money instead of depositing it in banks, which is an unhealthy phenomenon.
I have heard from my CBI contact on a call to Iraq last Saturday that the last stage of testing is almost completed on the software for the digital dinar. So, when it is ready and the GOI has completed its tasks, we can expect to see the collection of the three zero notes and the issuance of the new lower denominations. I asked for a timing of this event and she said to follow the election cycle. So, I now believe there are two events linked to kickoff of removing the zeros and that is the digital dinar and the election cycle.
I was also told that the CBI still plans to move ahead before the end of January 2026 with removing the zeros. That gives us less than two weeks and I believe this is overly optimistic. We have seen this target move before from September then to the end of December and now the end of January. The GOI will need time to daft the new law to combat Iranian-backed factions. Also, parliament will have to pass the Oil and Gas Law as well as this new arms legislation. But first we need Al-Sudani back at the helm and a fully functional new (or old) cabinet. We may not even get this last part done before two weeks. Do you think this is all going to happen in just two weeks? I don’t!
I want to cover one last article today. It is titled – “SIX MEASURES TO PROTECT GOLD AND REGULATE ITS MARKET: MAZHAR SALEH EXPLAINS IRAQ’S VISION FOR NATIONAL WEALTH”. The Prime Minister’s financial advisor, Mazhar Muhammad Saleh, outlined six key measures on Monday to regulate the gold market, noting that the Gold City project is a strategic initiative to protect one of the nation’s greatest assets. We all should know about this gold city project as I presented the article on it when it was first proposed.
Saleh called for “a comprehensive reform of the gold market system, through the adoption of a unified and mandatory Iraqi mark that includes (carat, testing authority, and year of mark), while criminalizing the trading of unmarked gold,” stressing “the importance of strengthening oversight through field testing using modern technologies such as (XRF), which reveals the truth about gold immediately without causing any damage to the pieces.”
The financial advisor added that “the next stage requires regulating gold smelting and import operations through workshop licensing and tightening border inspection, as well as establishing a national register for gold traders and adopting unified official invoices to reduce undocumented trading,” noting that “empowering the consumer through awareness campaigns and effective reporting mechanisms represents a fundamental pillar in this system.”
I personally believe that the new digital dinar will be asset backed and a great percentage of it will be backed by gold. Iraq along with the US will be going back to t he gold standard. In today’s prophetic words once again, God tells us of the new financial system and how it will work and be backed by gold. No longer a fiat system when the printing presses can just print unlimited dollars. When will all this happen? Of course I do not have a crystal ball, but I can say from listening to the prophecy today it is very near. For instance, the prophet Julie Green today talks about silver hitting $100 an ounce as a benchmark, then when the gold standard is announced it goes crazy. Gold spot already closed at $91 last week. Yes, if fluctuates up and down but we are looking at trends. It eventually settles higher and higher at these spikes take it again and again. Please check out my post-RV Investment Section in the blog. I clarifies what is happening with silver.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/