🏦 “Iraq Banks Step Up: Central Bank Aligns with International Standards” 🌍💰
Highlights by PDK (Summary – Not Verbatim)
📰 Central Bank & Banking Reform:
🔹 Amended Bank List: The Central Bank of Iraq has updated its list of banks — previously limited to government banks — to meet international standards for foreign financing and correspondent banking. 🌐
🔹 Sovereign Guarantees & Projects:
Five projects are awaiting Cabinet approval for sovereign guarantees totaling 1 trillion IQD.
Six projects in total, with 600 billion IQD already approved and 400 billion IQD remaining.
Agreements exist with Spanish, German, and UK entities to support investment projects. ✈️💼
🔹 Private Bank Involvement:
The remaining projects under the 1 trillion IQD ceiling will now be handled by private banks, as per the Central Bank amendment.
The Trade Bank of Iraq (TBI) has been notified, and an agreement with a Dutch entity is expected to be signed within 1–10 days. 🏦🤝
🔹 Coordination Efforts:
The Sovereign Guarantees Committee has spent two years coordinating with financing banks, guaranteeing institutions, and the Industrial Bank to ensure smooth execution.
💭 Takeaway: Iraq is modernizing its banking sector to international standards, facilitating foreign investment, and enabling private sector participation in major projects — a step forward for economic growth and financial transparency.
💸 “Iraq’s Dinar: Zero Removal & Hidden Cash Insights” 🇮🇶✨
Highlights by PDK (Summary – Not Verbatim)
📰 Mount Goat Update:
🔹 Cash Outside Banks: Financial expert Mahmoud Daghir revealed that ~90 trillion dinars are held by the public at home, out of 98 trillion dinars total. This suggests most of Iraq’s money supply is outside the banking system. 💰🏠
🔹 Zero Removal Project: Iraq may begin swapping the three-zero notes for smaller denominations soon. Removing zeros is expected to bring most currency back into banks, with incentives for people to deposit. 🏦✨
🔹 Liquidity Issues: Banks still face low liquidity, but the Central Bank says this
New exchange rate will appear in both the 2025 & 2026 budgets.
Visibility is restricted, likely because of the new rate. 📊
🔹 Currency Comparison Insight:
Kuwaiti dinar = $3.81, the highest-valued currency vs USD.
Iraq produces more oil than Kuwait, yet its currency is undervalued.
Overprinting of money may be why IQD investors anticipate a revalue/adjustment. ⚖️
💭 Takeaway: Iraq is quietly preparing steps — zero removal, budget alignment, and currency adjustments — that could shift most liquidity back into banks and set the stage for potential revaluation.
Article: “FINANCIAL EXPERT: PEOPLE DO NOT TRUST BANKS AND ARE STORING THEIR MONEY AT
HOME.” Article Quote: “Financial expert Mahmoud Daghir revealed on Sunday that the amount of cash held by the public is estimated at around 90 trillion dinars, out of a total money supply of 98 trillion dinars in Iraq”. Folks, I believe they do not want to talk much about the dinar we have outside of Iraq. It could very well amount to very close to a trillion dinars alone. How are they going to retrieve our dinars? This of course is a rhetorical question, as we all know the answer.
...we should see some movement on the project to remove the zeros this month.
Will Iraq begin the swap out of the three zero notes for the lower denominations soon? We read again in the news of the lack of liquidity in the banks...that nearly 90% of issued dinars are outside the banking system…still.
...I was told by my CBI contact that by removing the zeros should bring most of this currency into the banks.
I was also told there will be an incentive to do so. We were told in the news from the CBI in connection with the article about removing the zeros, that this issue of lack of liquidity “would be resolved soon”...this was their words not mine...
Walkingstick
The budget of '26 was voted on in '25. We will see the new exchange rate in the '26 budget and in the '25 budget.
You haven't seen the '25 budget because they don't want you to see it. It's that simple.
Why?
Because it has a new rate.
Sandy Ingram
The Kuwaiti dinar is worth $3.81, the highest valued currency against the US dollar in the world...Iraq produces 4 million barrels of oil per day. Kuwait only produces 2.7 million barrels per day. Iraq produces more oil than Kuwait yet Kuwait's currency is the highest valued currency in the world against the US dollar. There's something wrong here. This is one of the reasons...IQD investors believe in the IQD revalue or adjustment. But we have to take into account the overprinting of the money...
💰 “Iraq’s 2026 Spending Plan: Same Rate, New Rules Ahead!” 🇮🇶✨
Highlights by PDK (Summary – Not Verbatim)
🗓️ Finance Committee Update: The Iraqi Parliamentary Finance Committee announced the government’s spending mechanism for 2026.
💬 Key Points: 🔹 Law-Based Spending: Iraq will follow Law 1/12 of 2024 for expenditures, since the 2025 budget schedules haven’t been approved yet. 🔹 Stable Exchange Rate: Committee member Jamal Kojar confirmed that the exchange rate will remain unchangedfor now. 🔹 Focused Spending: Government disbursements in 2026 will be limited to operating expenses — no expansion or new major projects expected until further budget approval.
📊
Interpretation: This move suggests fiscal caution and continuity, while larger reforms — possibly including rate changes or project investments — may depend on upcoming budget approvals or economic adjustments later in 2026.
– Iraq’s Central Bank aims for international banking standards by Jan 2026, yet MZ believes a new rate must come before then.
🔹 Logic Check 💡 – Why would Iraq draft a 2026 budget if they plan to change the rate in January? Many expect the shift before year-end or even before Iraq’s elections (Nov 11).
🔹 ISO 20022 & Gold-Backed Currencies 🪙 – Members link the 2025–2026 international banking standard rollout to potential asset-backed systems.
🔹 Bank Rumors 🤫 – Reports of new banking systems, NDAs among tellers, and internal shifts spark curiosity — “Something’s moving behind the scenes.”
🔹
Looking Ahead 🇺🇸 – Some speculate Trump could align a major announcement with July 4, 2026, America’s 250th anniversary, possibly tied to gold-backed Treasuries.
🔹 Community Spirit 🙏 – Members stay hopeful for blessings before Thanksgiving or Black Friday, keeping positive energy alive.
🎙️ Special guests Dr. Bruce Fong & Lewis Hermes joined after the news — catch the replay for their insights!
purity nearly 95%, suitable for glass and colored glass production 🏭
Market Value: $100–$150 per ton, potentially generating billions for Iraq’s budget 💰
Employment Impact: Could provide 10,000+ job opportunities 👷♂️👷♀️
⚡ Uses of Silica Sand:
Glass manufacturing 🥛
Silicone products & building materials 🏗️
Electronics, solar cells, and filtration processes ☀️🔬
🌐 Global Context:
In 2024, worldwide silica sand consumption reached ~479 million tons
Market value: $14–$72 billion, depending on quality and pricing 💵
🛠️ Challenges & Opportunities:
Current investment procedures are weak
Need to amend Mineral Investment Law No. 91 (1988) to better exploit Iraq’s natural resources ⚖️
Iraq has local expertise capable of managing and investing in these resources efficiently ✅
⚡ Bottom Line: Iraq’s silica sand reserves represent a major economic opportunity, potentially rivaling oil in generating revenue and jobs while supporting industrial growth and innovation.
After zero deletion, the IQD will be pegged to a basket of currencies, not just the USD.
This allows the dinar to increase significantly in value, leading to the real RV rate everyone anticipates.
Once implemented, the exchange rate will be the same internationally, no separate “contract” rates.
Cash Outside the Banks 🏠💰
Financial expert Mahmoud Daghir estimates 90 trillion dinars are held by the public out of 98 trillion total.
A large portion of this may be outside Iraq, including the US, Canada, and Europe.
Retrieving these dinars requires the currency change and rate adjustment—the only practical way to get cash back into banks.
⚡ Bottom Line: The zero deletion is just the first preparatory step. The major rate everyone wants ($3.81–$4.00 or similar) comes after the dinar is reinstated on FOREX and allowed to float against a basket of currencies. The upcoming changes are global, not just domestic, and aim to recover liquidity and restore trust in the currency.
Question: When does our real RV nominal rate come out, the big rate we all want such as $3.81 or $4.00 as we are told might be the rate? Mnt Goat: ...the Project to Delete the Zeros is ONLY the first step of the process to get to FOREX and the dinar is still solely pegged to the dollar. It is to collect all the larger notes and issue the lower denominations.
This is the purpose of this step. The CBI will be VERY concerned about inflation afterwards and so they told us there will be a period of time before they move to the next step.
The next step is the REINSTATEMENT on to FOREX. The peg will change and the IQD will be repegged to a “basket” of currencies that will allow it to change drastically higher...This is how we get the rate we want. This is when we go exchange.
Article: “FINANCIAL EXPERT: PEOPLE DO NOT TRUST BANKS AND ARE STORING THEIR MONEY AT HOME.”
Article Quote: “Financial expert Mahmoud Daghir revealed on Sunday that the amount of cash held by the public is estimated at around 90 trillion dinars, out of a total money supply of 98 trillion dinars in Iraq”.
Folks, I believe they do not want to talk much about the dinar we have outside of Iraq. It could very well amount to very close to a trillion dinars alone. How are they going to retrieve our dinars?
This of course is a rhetorical question, as we all know the answer.
Nader From The Mid East
There's no in country and outside country. When you say international, when you put something international... they're going to put it to float and all that, the rate will be same thing everywhere over the world...I never heard of contract rate or nothing like that before.
I saw this article, this is the 3rd time I see it in one year. They keep talking about about and talking about. It's about how much money there is in the street...
They say 92 trillion dinars on the street and they don't know how to get them to the banks. A lot of these trillions are outside the country, we have them. They're everywhere, United States, Canada, Europe, everywhere.
The only way to get this trillions out of the streets, it's by changing the currency and changing their rate. That's the only way they can get this 92 trillion dinars out of the streets...That's exactly what's going to happen soon.
📌 Fiscal Policy as Sovereignty 💰 Fiscal policy is a core tool of national sovereignty, enabling governments to manage finances in line with national interests. For Iraq, this includes effectively controlling the Iraqi dinar.
🏦 Currency Management Essentials:
Issuing national currency 🏛️
Controlling the volume in circulation 🔄
Linking the dinar to international currencies 🌍
Managing currency inflows & outflows 💸
Assigning authorities to manage & invest funds efficiently 🧩
The government balances dinars in circulation against currency backing (foreign currencies & precious metals) to preserve its value.
Maintaining liquidity is essential to prevent economic instability.
⚠️ Liquidity Crisis Indicators:
Fiscal deficit in revenue vs expenditure 📉
Challenges in managing dinars supply & liquidity
Difficulty meeting government obligations (salaries, operations)
💡 Economic Equilibrium Risks:
Mismanagement can lead to economic collapse or severe deficits.
Current fiscal challenges indicate potential broader economic impacts.
🔎 Key Terms:
Fiscal Deficit: Expenses exceed revenues or poor currency management
Currency Backing: Assets supporting the currency (foreign reserves, metals)
Dinar Liquidity: Availability & flow of dinars in the economy
⚡ Bottom Line: Iraq is facing a liquidity crisis that threatens economic stability. Effective fiscal management and currency controlare vital to prevent collapse and maintain government operations.
💥 Bank of Baghdad Forms New Board of Directors – Part of Iraq’s Banking Reform Program
📅 Tuesday, November 4, 2025 | 🏦 Economic News
The Bank of Baghdad, one of Iraq’s leading financial institutions, announced the formation of a new Board of Directors during its 9th Extraordinary General Assembly — a key move within the national banking reform program. 🇮🇶
🧩 New Members Elected: ✅ Original Members: Tamara Hussein Al-Shadidi, Khaled Sharif Al-Hazza, Nidal Faiq Al-Qabaj, Ahmed Tahseen Al-Ma’la (Authorized Manager) ✅ Reserve Members: Yazan Bader Kurdi, Salah Muhammad Salim, Baidaa Salem Suleiman, Inas Abdul Rahman Al-Qaisi, Fadi Muhammad Ayad, Zuhdi Bahjat Al-Jayousi, Taha Jaafar, Ghassan Ahmed Salim, Niran Sabri Ishaq
💬 Managing Director Ahmed Tahseen Al-Ma’la stated:
“This marks a strategic step to strengthen corporate governance and
separate ownership from executive management. We are proud to be the first Iraqi bank implementing the Central Bank’s new framework, reflecting our commitment to international standards.” 🌍