Central banks move very very slow. It's like watching grass grow or paint dry.
They're not generally in a hurry to do anything.
But once things get approved, things could actually move very rapidly...
The last several years, the pace at which they've been doing things have really been quite impressive...
Having watched this for the past two years and then seeing within the last year how quickly things have started to move, I'm excited. I'm hopeful.
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Los bancos centrales suelen moverse muy, muy lentamente. Es como ver crecer el césped o esperar a que se seque la pintura. Normalmente no tienen prisa para tomar decisiones importantes.
Sin embargo, una vez que los procesos internos reciben todas las aprobaciones necesarias, los acontecimientos pueden avanzar con mucha rapidez.
Durante los últimos años, el ritmo de trabajo y de implementación de cambios ha sido realmente impresionante. Después de haber observado este proceso durante los últimos dos años, y especialmente viendo lo mucho que se ha acelerado en el último año, me siento entusiasmado y esperanzado.
🚨🇮🇶 IRAQ CONTINUES CLEANING HOUSE: ANTI-CORRUPTION EFFORTS GAIN MOMENTUM! 🏛️💰
Iraq continues sending a strong message that the fight against corruption remains a top national priority. As the country pushes forward with economic, banking, and institutional reforms, authorities are also taking decisive action against high-level corruption cases that have long undermined public trust and economic development.
⚖️ According to recent news, Iraq's Supreme Judicial Council has released new details in the corruption case involving Adnan al-Jumaili, the former Deputy Minister of Oil for Refining Affairs.
The Council announced that authorities have confiscated assets totaling approximately:
💵 $10 million USD 💸 31 billion Iraqi dinars 🏠 Dozens of properties
🚘 Multiple luxury vehicles
These confiscations reflect ongoing judicial efforts to recover public funds and hold former officials accountable for alleged corruption.
🏦 At the same time, Iraq's leadership continues to emphasize the importance of banking reform, financial transparency, and adopting international standards. Combined with major government restructuring and institutional modernization, these actions point toward a broader effort to strengthen the country's governance and create a more attractive environment for investment.
🌍 Investors and international financial institutions have consistently stressed that transparency, accountability, and a strong rule of law are essential for sustainable economic growth. Every successful anti-corruption action helps reinforce confidence in Iraq's institutions and supports the country's long-term reform agenda.
✨ For those following the Iraqi dinar (IQD), it's important to remember that no official RV has been announced. However, many in the dinar community view continued reforms—including anti-corruption measures, banking modernization, and stronger institutions—as positive developments that could support Iraq's long-term economic goals.
🇮🇶 Step by step, Iraq appears to be addressing long-standing challenges, strengthening its institutions, recovering public assets, and building a more transparent and accountable government. Many observers remain hopeful that these reforms will continue paving the way for a stronger economy and greater international confidence.
🙏 Progress may not always happen overnight, but every reform completed is another step toward the Iraq many have been waiting to see.
The Supreme Judicial Council of Iraq has announced the latest figures related to the corruption case involving Adnan al-Jumaili, former Deputy Minister of Oil for Refining Affairs.
According to the official statement, the total value of confiscated funds has reached 10 million U.S. dollars and 31 billion Iraqi dinars, in addition to dozens of properties and luxury vehicles.
According to Majeed, the following measures are expected from the government of Prime Minister Ali Faleh al-Zaidi:
💵 The Iraqi government will remove three zeros from the Iraqi currency.
💲 The exchange rate will be adjusted to 1 USD = 1,600 IQD.
📈 With both measures, the value of the Iraqi dinar would rise.
📉 Iraq's budget would reportedly be relieved by 25%.
🖨️ A new series of currency would then be printed following the positive change.
📊 Exchange Rate Interpretation
If the exchange rate is set at 1 USD = 1,600 IQD and three zeros are removed from the currency through a redenomination, the mathematical result would be:
1 USD = 1.6 New IQD
1 New IQD ≈ $0.625 USD
This is why some people calculate the new value at approximately $0.62 per new Iraqi dinar.
Prime Minister Ali Faleh al-Zaidi oversaw the handover ceremony for incoming Central Bank of Iraq (CBI) Governor Nizar Nasser Hussein. He stressed the urgency of advancing banking reforms to foster economic stability and investment, emphasizing that adopting international standards is vital to keeping pace with global digital transformation.
🇮🇶✨ IRAQ CONTINUES MOVING FORWARD... ONE REFORM AT A TIME! ✨🏦
Every week, we continue to see more progress in Iraq's financial and institutional reform efforts. From major government restructuring to banking modernization and the appointment of new leadership at the Central Bank, the direction remains focused on building a stronger and more modern economy. 📈
🏛️ Prime Minister Ali Faleh al-Zaidi has emphasized that banking reform is an urgent priority, highlighting the need to adopt international standards, strengthen financial stability, and accelerate Iraq's digital transformation. These are exactly the kinds of reforms many observers have expected to see as Iraq modernizes its financial system.
💡 While no official announcement has been made regarding an Iraqi dinar revaluation (RV), the continued implementation of economic and banking reforms shows that Iraq is working toward a more stable and internationally connected financial system.
🌍 Every reform completed, every institution strengthened, and every step toward global banking standards helps build the foundation for Iraq's long-term economic future.
🙏 For those who have followed Iraq's progress for years, patience remains important. The road has never been about one single event—it has been about a series of reforms that gradually move the country toward greater stability and growth.
🇮🇶 According to recent developments, Iraq continues advancing its reform agenda. Many in the dinar community remain hopeful that these efforts will ultimately support the country's long-term economic goals.
✨ Stay informed. Stay patient. Keep watching the progress.
Article: "Ahead of his visit to Washington, al-Zaydi's "sieve" causes the biggest government shake-up since 2003" Quote: "...informed sources speak of a broad list of changes that may affect more than 100 officials at various administrative levels, starting with undersecretaries and not ending with directors-general, in a move that seems closer to redrawing the centers of influence within the Iraqi state than to mere routine administrative procedures...
and reveal the extent to which al-Zaydi can turn promises of reform into reality, or remain within the limits of the balances that brought him to power."
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🚨🇮🇶 IRAQ PREPARES ITS BIGGEST GOVERNMENT SHAKE-UP SINCE 2003!
According to recent reports, Prime Minister Mohammed Shia al-Sudani is preparing what could become the largest government restructuring since 2003. 🏛️
📋 Sources say the changes could impact more than 100 senior officials, including undersecretaries, directors-general, and other key government leaders across multiple ministries.
⚖️ This is being viewed as much more than a routine personnel change. Analysts believe it is an effort to reshape Iraq's power structure, remove ineffective officials, strengthen state institutions, and advance the government's reform agenda.
✈️ The timing is especially significant, as these changes are reportedly being prepared ahead of al-Sudani's visit to Washington. Many see this as a signal that Iraq wants to demonstrate real progress in governance, transparency, and administrative reform before meeting with international partners.
🏦 While this government reshuffle is not directly connected to the Iraqi Dinar's exchange rate, stronger institutions, better governance, and reduced corruption are all considered important building blocks for Iraq's broader economic and financial reform program.
👀 The coming weeks will reveal whether al-Sudani can turn his reform promises into meaningful action—or whether political pressures will limit the scope of these historic changes.
🇮🇶 Iraq continues moving through an important phase of political and institutional reform that could shape the country's economic future.
💰🇮🇶 IRAQ'S DIGITAL FINANCIAL TRANSFORMATION GAINS MOMENTUM
Iraq's Deputy Minister of Finance, Ali Karim, met with a World Bank delegation led by Michel Rogge, Regional Director for Digital Transformation and Artificial Intelligence, to advance key financial modernization initiatives.
Key topics discussed:
✅ Digitalization of the Ministry of Finance ✅ Automation of tax collection systems ✅ Automation of customs operations ✅ Enhanced cybersecurity measures ✅ Expansion of the IFMIS (Government Financial Management Information System) ✅ Integration of Artificial Intelligence and emerging technologies into public administration
The World Bank reaffirmed its commitment to providing technical and advisory support as Iraq continues its financial reform agenda.
Why Does This Matter?
Iraq is building the same financial infrastructure used by modern economies to improve:
📊 Tax collection 🚢 Customs revenue management 💵 Government spending oversight 🔍 Financial transparency
🛡️ Anti-corruption efforts 📈 Real-time tracking of state resources
These efforts complement other major reforms already underway, including ASYCUDA customs automation, banking modernization, electronic payments, financial inclusion, and the digital transformation of the Central Bank of Iraq.
Analysis
What we are witnessing is Iraq's transition from a cash-based, manually operated economy to a digital, transparent, and auditable financial system.
The automation of taxes and customs could help Iraq recover billions of dollars historically lost to corruption, smuggling, and inefficiencies. Meanwhile, the expansion of IFMIS will allow the government to track revenues and expenditures in real time—an essential component of any serious monetary reform.
My Opinion
This is another important piece of the puzzle. While Iraq accelerates the completion of its government, the Ministry of Finance and the World Bank are building the digital infrastructure required for a modern economy.
In my view, this step was necessary before any green light could be given to a future revaluation of the Iraqi dinar. Iraq first needed the transparency, controls, automation, and financial oversight required to support a stronger monetary framework.
With ASYCUDA, IFMIS, customs automation, banking reforms, and digital transformation moving forward, the foundation is being built. The train has already left the station—we are moving down the track toward the RV. Iraq is demonstrating its ability to operate as a sovereign, financially accountable nation capable of attracting investment, increasing non-oil revenues, and supporting long-term dinar stability. 🇮🇶🚂💰📈
The Undersecretary of the Ministry of Finance discusses with the World Bank the priorities of digital transformation and automation of financial operations.
On Thursday, the Undersecretary of the Ministry of Finance, Ali Karim, discussed with a World Bank delegation the priorities of digital transformation and automation of financial work, and mechanisms for developing financial systems in Iraq.
The Ministry of Finance stated in a statement received by “Dijlah News” that “the Undersecretary of the Ministry held an extensive meeting with the World Bank delegation headed by the Regional Director for Digital Transformation and Artificial Intelligence, Michel Rogge, in the presence of a number of Directors General and senior staff in the Ministry.”
The statement added that “the meeting discussed paths of technical cooperation in the areas of digital transformation and automation of financial work, particularly the automation of the tax and customs systems, strengthening cybersecurity, and the organized expansion of the Government Financial Management Information System (IFMIS) project, which contributes to raising performance efficiency and improving the quality of data and services.”
The Undersecretary of the Ministry of Finance affirmed that “digital transformation represents an integrated reform path to support public finance management, simplify procedures, and enhance transparency and governance,” stressing the importance of “implementing projects according to clear priorities and applicable phased plans that are consistent with the requirements of financial reform and the reality of Iraqi institutions.”
For its part, the World Bank delegation affirmed its readiness to continue providing technical and advisory support to the Ministry of Finance in the areas of digital transformation, artificial intelligence and the development of financial systems, in order to contribute to achieving the goals of institutional and financial reform. link
