IRAQ NEWS TODAY, 7 AUGUST

 Iraq partially settles gas debt to Iran, talks continue

Shafaq News / The Iranian Ministry of Foreign Affairs announced that Iraq has partially paid off its debts related to gas supplies. According to Al Jazeera, the foreign ministry stated that "Iraq has made partial payments of its debts to Iran, and these funds were transferred to a third country."

The ministry also emphasized that technical discussions between the two countries will continue.

It's worth noting that earlier, on July 3, 2023, Yahya Ale-Ishaq, the head of the Iran-Iraq Chamber of Commerce, had announced that Iraq had fully paid its outstanding debts to Iran, totaling 10 billion dollars.

https://shafaq.com/en/Iraq-News/Iraq-partially-settles-gas-debt-to-Iran-talks-continue

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SFC dismisses formal challenges to budget law provisions

Shafaq News / The Supreme Federal Court decided on Monday to reject some formal challenges related to the unconstitutionality of certain provisions in the Budget Law.

According to a statement by the court, it ruled to dismiss the formal claims in cases numbered (175/ Federal/ 2023), (170/ Federal/ 2023), (169/ Federal/ 2023), (165/ Federal/ 2023), (154/ Federal/ 2023), and (166/ Federal/ 2023), concerning the constitutional challenges to some articles of Law No. 13 for the year 2023, the Federal General Budget Law for the fiscal years 2023-2024-2025.

The court clarified that the rejection was based on the provisions of Article 22 of Internal Regulation No. 1 for the year 2022 and its reference to Article 19 therein. The claimants were not among the persons mentioned in the aforementioned article who have the right to challenge the constitutionality of the Budget Law and bear the expenses, fees, and attorney fees. The judgments were unanimously issued and are binding on all authorities, publicly understood on August 7, 2023.

Earlier today, SFC issued a series of rulings on Monday addressing challenges presented by the Kurdistan Regional Government (KRG) pertaining to the federal budget law. 

This long-awaited judgement provides clarity on disputed elements within the law, number 13 of 2023, that oversees Iraq's federal budget for the fiscal years 2023-2025.

An official press release said that the court reviewed the lawsuit, numbered 168/federal/2023, filed by the plaintiff (the KRG President, in his official capacity) against the defendant (the Speaker of the House of Representatives, also in his official capacity).

The lawsuit specifically contested certain items within the budget law.

The court's ruling deemed several provisions in the law "unconstitutional". These include the phrase "with the approval of the federal Prime Minister" as stated in Article 11/first and "in case the House of Representatives fails to take the necessary decision" as mentioned in Article 13/seventh.

However, the SFC dismissed the challenge regarding the constitutionality of several other sections, specifically articles 2/first/5/b, 11/second, 12/second/a, b, c, d, e, and 13/eighth/b.

In a separate but related ruling, the SFC also concluded the challenge posed by the Federal Government against the budget law. According to an additional press release, the court reviewed the lawsuit numbered 153/federal/2023, raised by the plaintiff (the Prime Minister, in his official capacity) against the defendant (the Speaker of the House of Representatives, in his official capacity).

The SFC's definitive verdict, binding on all authorities, declared several phrases in the law to be unconstitutional. These include the word "exclusively" in Article 2/first/8/c/6, the phrase "upon his request" in the last section of Article 16/second, along with Articles 20/sixth, 28/fourth/a, 57/first/c, 70/second, and 72.

Nevertheless, the Court dismissed the plaintiff's lawsuit regarding the constitutionality of Articles 28/fourth/b, 62/fourth, 63/third, 65/second, 71, and 75 of the above-mentioned law.

https://shafaq.com/en/Iraq-News/SFC-dismisses-formal-challenges-to-budget-law-provisions

"THE CURSE OF ZEROS & HISTORICAL JUSTIFICATIONS", " IRAQ PAID OFF PART OF ITS DEBTS TO IRAN", 7 AUGUST

The curse of zeros and historical justifications… Why was the Iranian riyal classified as the weakest currency in the world?

8-6-2023

The curse of zeros and historical justifications... Why was the Iranian riyal classified as the weakest currency in the worldTehran – Despite the fact that the Iranian rial has recovered part of its value over the past four months, the American magazine “Forbes” classified it in its latest report as the weakest in the world against the US dollar.

Under the headline “The Iranian Rial is the Weakest Among the Currencies,” the Persian-speaking Iranian press paused in front of the “Forbes” magazine report, explaining that the report finds that the Iranian currency is equivalent to about 0.000024 US dollars; This means that you are able to buy 422 thousand and 733 riyals in green currency according to the official exchange rate, while the US dollar is equivalent to more than 485 thousand riyals in the parallel market at the present time.

The Forbes magazine report relies on the official exchange rate of the Iranian riyal, after nearly 4 months have passed since the Iranian-Saudi reconciliation and the constantly leaking news of indirect negotiations between Tehran and Washington to revive the nuclear agreement, which reflected positively on the recovery of the Iranian riyal.

The price of the US currency fell from 620,000 riyals last February to 490,000 Iranian riyals as of Friday evening on the black market.

Electoral promises

The Iranian press and tweeters on social media recalled the promises of the losing presidential candidate Mohsen Rezaei – who was appointed by President Ebrahim Raisi after his victory in the previous presidential elections as his deputy for economic affairs and then appointed him last month as head of the secretariat of the Supreme Council for Economic Coordination of the heads of the three authorities – that he would convert the Iranian riyal to the strongest currency in the region.

Officially, the Iranian government has not – so far – commented on the classification of the national currency as the cheapest among the world’s currencies, but the official media challenge such classifications and consider them unreliable because they are based on the number of zeros in the national currencies compared to the US dollar.

In a seemingly unified policy to respond to what Iranians are circulating on social media platforms and reformist newspapers, conservative media outlets, including the “Tasnim” news agency, which is close to the Revolutionary Guards, wrote that from 1940 onwards, different countries deleted a number of zeros from their currencies as a result of the escalating inflation and declining value, in While the Iranian currency remained the same, although its value exceeds many currencies of other countries.

Parliament Studies

On the other hand, the reformist “Tawad” newspaper responded to the reports that try to justify the fall in the value of the national currency, and wrote that “the latest reports of the Iranian Parliament Research Center reveal disastrous statistics about the decline in the value of the riyal against hard currencies over the past 100 years.”

According to the newspaper, the data of the Research Center of the Iranian Parliament show that the Iranian riyal in 1929 was equivalent to 0.366 grams of gold, and with the passage of time the price of a gram of gold increased from 3 riyals at that time to about 18 million riyals until March 2022; In other words, the value of the Iranian riyal has declined about 6 million times compared to gold and 16 thousand times compared to the US dollar.

The curse of the zeros

Meanwhile, the economist at the Institute of Contemporary Studies, Muhammad Sadiq al-Husseini, believes that the value of currencies is relative and must be compared with their value during certain periods to determine the improvement or decline in their purchasing value, adding that it was best for Forbes magazine to rely on the inflation index. To classify the value and strength of currencies.

In his interview with Al-Jazeera Net, Al-Husseini revealed that the inflation index in Iran has reached 250% since 2018 until today, and that inflation has always been more than 10% since the victory of the Iranian revolution in 1979, adding that if Tehran had deleted 4 zeros from its currency, the weaker Iranian riyal would not have arrived. Among the currencies in the last rating.

In order to get rid of the curse of the zeros of the Iranian riyal, the Central Bank of Iran proposed for the first time in 1993 to change the national currency to the toman (the toman is equal to 10 riyals) to delete 3 zeros from it; However, the proposal collided with opposition from some Iranian circles.

Currency change

and after former US President Donald Trump left the 2015 nuclear agreement between Iran and the six-party group (the United States, Britain, Germany, France, Russia and China) and reinstated sanctions on the Iranian economy, which led to a decline in the value of the riyal; The previous Iranian government approved the summer of 2019 to change the currency from the riyal to the toman, in preparation for deleting 4 zeros from it, and referred the project to Parliament, which approved it, but it collided again with the threshold of the Guardian Council.

The current government is working to provide clarifications to the Guardian Council for the final approval of the law, and the Central Bank of Iran has recently printed new money in which 4 zeros appear in a light color, in preparation for its final deletion in the coming stages.

And whether the deletion of zeros will lead to curbing inflation and the recovery of the currency, the Dean of the Faculty of Economics at Al-Khwarizmi University, Waheed Shaqaqi Shahri, published an article entitled “Inflation and the Deletion of Zeros from the National Currency” in the “Tijarat” newspaper, in which he concludes that curbing inflation needs to address the roots of the problem and that changing the currency Just changing the rial to the toman will not bring economic stability.

Reasons and solutions

The economist, Muhammad Sadiq al-Hassani, sees the persistent deficit in the public budget as a major reason behind the decline in the value of the national currency, stressing that the crisis of pension funds and the banking system constitute additional reasons for the decline in the value of the Iranian riyal, and that he does not hope for the Iranian currency to recover in the near future because there is no real plan. To solve these problems in the national economy.

Al-Husseini concluded that removing the specter of sanctions and returning frozen Iranian assets abroad would contribute to enhancing the value of the national currency, as well as curbing inflation and advancing the national economy to improve the living conditions of the citizen.

rawabetcenter.com

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 Urgent…Iran: Iraq paid off part of its debts and its amounts were transferred to a third country

{Economic: Euphrates News} The Iranian Foreign Ministry announced that Iraq paid part of its debts to Iran for supplying gas to it.

“This money has been transferred to a third country,” an Iranian foreign ministry spokesman said at a press conference today, stressing that “technical talks will continue on that.”

Last month, the US State Department announced that part of Iran’s money in Iraqi banks would be transferred to Oman.

These funds will be held in Oman, but Iraqi restrictions on these funds will also apply in Oman and these funds can only be used for humanitarian and non-sanctioned purposes, and any transfer must be approved by the US Treasury Department," she said.

https://alforatnews.iq/news/إيران-العراق-سدد-جزءاً-من-ديونه-وتم-نقل-مبالغها%C2%A0الى-دولة-ثالثة

DINARLAND UPDATE, 7 AUGUST

 MilitiaMan (KTFA)

Article quote:
“…new decisions will be issued next week that may contribute to lowing the price of the dollar.”

Okay, they have a new package.  We’ve had probably…three packages so far that the central bank has talked about.  Is this the 4th package?  It surely looks like it is.  Is this the final phase they’re going to be in?  It sounds like it…Basically, there are decisions that…will be issued next week.  They decided on something…could be as early as Sunday, that will contribute to lowing the price of the dollar to the exchange rate of the dinar.

The Central Securities Deposit System has a time frame on it that’s going to start as early as, as they say specifically on the CBI’s website…August 7th…All banks in the country were notified 14 days days prior to the first of August to be set up and ready to go on this new system and they have until implementation day.  Their words not mine – August 7, 2023. 

What this could mean is that that sets the stage for them to be able to have the ability to funnel money into the Iraqi Stock Exchange from international circumstances…That’s really really big because going international, the amount of money that will flow through their stock exchange is going to probably be astronomical.  It’s going to be good for them…Iraqi citizens…investors…you and I.  It’s a powerful thing.  Take it seriously.  It’s coming to us now.

Nader From The Mid East

I’m gonna disagree with you [Guru Pimpy] when you say the budget doesn’t need a new exchange rate because Iraq has been living for 20 years with a bad exchange rate and it didn’t bother us.  No, it bothered us a lot and things are very very expensive …Why we need a new exchange rate?  First for purchasing power.  Second when we travel a lot especially for work or even for pleasure…If I want to come over here [The US] on vacation I can’t.  If I want to go to Europe…Australia… Canada I can’t. 

Forget anywhere in the world.  Even Africa I can’t because when I take 2 million or 3 million dinars if you…have a family like me…15 day or even a week that’s not enough…Before 2003 when Saddam was alive a minimum paycheck used to be $3,000…which is 1000 dinars.  With 1000 dinar you can do a lot of things…I can bring in my family for a week…Iraq needs an exchange rate.  Need their money to go back at least 1 to 1.  1 to 1 would be very fair.  3 to 1, 2 to 1 would be better.  But for now 1 to 1. 

Frank26 (KTFA)

The bad guys…they took 5000 families, they moved them from where they lived, closer to Baghdad so they could open bank accounts.  They paid them $200 to take over the bank account so they could smuggle American dollar out of Iraq through Iraqi banks…You’d think that would be the end of the stealing. Yah!  We caught everybody that’s stealing.  No.  This is just the tip.  This is why we don’t see the monetary reform and new exchange rate moving forward just yet.  These things have to be taken care of and Sudani and Alaq are doing fantastic…

Bruce (The Big Call)

[via WiserNow]

The latest information I have so far…is pointing toward Monday or Tuesday for notifications and Tuesday, Wednesday… for our exchanges…  rates are changing at the banks every day with new rates with the trading that’s going on globally.  I think things are happening…We’re looking forward to being notified…

COUNTRIES THAT ARE IN THE BRICS ALLIANCE, 7 AUGUST

 Update 30 June 2023: The BRICS Alliance currently includes Brazil, Russia, India, China and South Africa.

Candidate Countries that want to join the Alliance or already joined:

Afghanistan,

Algeria,

Argentina,

Azerbaijan,

Bahrain,

Bangladesh,

Belarus,

Bolivia,

Brunei,

Cambodia,

Chile,

Costa Rica,

Cuba,

Egypt,

El Salvador,

Ecuador,

Germany,

Ghana,

Guatemala,

Honduras,

Indonesia,

Iraq,

Iran,

Kazakhstan,

Laos,

Malaysia,

Mongolia,

Myanmar,

Nicaragua,

Nigeria,

North Korea,

Pakistan,

Panama,

Peru,

Phillipines,

Saudi Arabia,

Senegal,

Singapore,

Sri Lanka,

Sudan,

Syria,

Tajikistan,

Texas and another 19 Federal States

Thailand,

Tunisia,

Türkiye,

Turkmenistan,

United Arab Emirates,

United Kingdom,

Uruguay,

Uzbekistan,

Venezuela,

Vietnam,

Zimbabwe,

Two unnamed countries from East Africa, and one from West Africa.

JUDY NOTE, 7 AUGUST

 Judy Note:

So, what’s next in their strategy?

Well, they have already set us up for Global Food Shortages, along with the biggest Financial Collapse in history. Such would devastate the World’s economy – if not for the BRICS Alliance’s Global Currency Revaluation that kicked off way last Tues. 1 August 2023.

BRICS’ original five members – Brazil, Russia, India, China and South Africa – were due to convene in Johannesburg on Aug. 22-24. A potential expansion will be high on the agenda according to Kremlin spokesman Dmitry Peskov. Among those US states reported to have already joined BRICS was Texas, plus another 19 Federal States.

WARNING: There were reports that some were asking you to hand over your foreign currencies and/or Zim Bonds to them saying they would exchange or redeem them for you. DO NOT give in to this scam. Only the purchaser of the currency or bond can legally exchange or redeem that currency or bond at a Redemption Center for the higher rates. Exceptions were that if you had given someone currency or bonds, along with a notarized gift letter saying you did so, or if you gave someone Power of Attorney over your affairs. The bottom line: If someone tried to turn in your currency or bonds without your authorization, they could be arrested.

Global Currency Revaluation:

• Sat. 5 Aug. Financial Update, Charlie Ward: “We are coming into the biggest financial collapse you have ever seen. The bad guys want to usher in a New World Order One World Government World Economic Forum. They wish to collapse the World’s economy. This has been planned for a long time. It’s time to wake up. If they win they will completely control you.”
• The Federal Reserve is technically bankrupt. In 2023 the Fed will post it’s first annual operating loss since 1915 – $80 Billion, with a negative capital of $38 Billion. This loss does not count the 1.3 trillion unrealized loss on it’s portfolio.
• All BRICS Nations (Brazil, Russia, India, China, South Africa – plus 104 others) were releasing from the fiat US Dollar and no longer accepting it for international trade.
• The Iraqi Parliament was in receipt of their budget with the new Iraqi Dinar Rate in it.
• On Wed. 9 Aug.  the new Iraqi Dinar Rate was expected to be revalued at a 1:1 with the USD and then begin trading up on the Forex – after that it cannot go down in value.
• It was said that the next day after the Dinar revalued on Thurs. 10 Aug. a “major figure will leave the stage.” Perhaps our Brainless Traitor Biden?
• Last Fri. 4 Aug. the BRICS nations set a Back Wall for the RV at Sat. 12 Aug.
• On the Banking side, Bank of America was closing US branches in August. Banks had until Sun. 6 Aug. to synch up with the Central Bank of Iraq and it’s new Iraqi Dinar Rate; Wells Fargo customers were reporting that their deposits were disappearing from their accounts, plus on Mon. 7 Aug. the World’s largest bank, the United Bank of Switzerland (American Group), has announced they were making sweeping changes and restructuring the bank.
• Fri. 4 Aug. Wolverine: “The head of the Humanitarian financial instruments in Colombia just announced that all protocols are ready and that letter of exit to release the funds are ready and to thank everyone for this incredible blessing.”
• Fri. 4 Aug. TNT Call: The banks are saying the RV could start at any time. FedNow was activated on Thurs. 3 Aug. Iraq is saying the budget instructions will be made public in the next 10 days, which could mean any time. The back wall is the 12th. It was agreed to be done by then.
• Bearded Patriot confirmed that the first wave of liquidity started on Tues. 1 Aug.
• MarkZ said that a number of very connected people to the RV had to be in place by Fri. 4 Aug. and on that Fri. 4 Aug. he again said, “A lot of people are traveling today.” He had received mixed reports of this going Sat. 5 Aug, Tues. 8 Aug. or Wed. 9 Aug.
• On Sun. 30 July Russian President Vladimir Putin announced the Global Currency Reset and on Mon. 31 July, signed a digital ruble bill into law, approving the use of its central bank digital currency for payments starting from Aug. 1, 2023.
• The BRICS Alliance has finally abandoned the USD for a global trade settlement – Cryptopolitan. The line has been drawn in the sand and BRICS nations have made a stand that could shake the global financial landscape. https://www.cryptopolitan.com/brics-abandons-usd-global-trade-settlement/

Sat. 5 Aug. Rumtel Update:

• CBI has the budget. Banks have until Sunday to “synch up” with the Central Bank of Iraq.
• Action on Sunday will drive the Dinar rate DOWN to 1,300 to 1 US Dollar. This will match the rate on the street and the budget.
• CBI will then “revalue” to 1,000 to 1. Target date is Wednesday.
• CBI will then “drop the 3 zeros” to 1-$1 with the US dollar, at which point the Dinar will be tradable and “floating” on the Forex. It will NOT float down.
• Political hurdles have been cleared.
• “Health crisis” of a major figure was an assassination attempt. Failed.
• No moves left.
• First major figure to “leave the stage” on Thursday 10 Aug.
• This is the plan as of today Sat. 5 Aug, as I understand it from separate sources. We’ll see. All we can do is wait and hope that events unfold along these lines. Enjoy your weekend. Watch some sports and pray this in.

TNT CandyKisses: The Iraqi Parliamentary Finance Committee stated on Sat. 5 Aug. that the Iraqi budget (that contained the new Iraqi Dinar Rate) would be implemented sometime this week. Clare: And finally – 50 days after its approval, the budget enters into force.

Sat. 5 Aug. Bearded Patriot

• We have good news and not so good news. I will start with the “Not so good news”
• The Iraqis have decided NOT to publish the new rate into the Gazette this Saturday.  In order for me to explain why….I will be crossing the line of agreement of information (even though you have the right to know).  So, I won’t be able to explain why in detail to you.  Please try to understand. 
• There’s a definite and final BACKWALL that was established by all participating countries. This slight delay will help some countries that were not ready for the RV, therefore giving them the time to complete their efforts so they too will be a part of this RV. 
• THE GOOD NEWS is that due to the slight delay, this will allow other countries, including but not limited to Iraq, Dong, Dinar and all other participating countries for their currency values to “INCREASE” before we move forward. 
• I can tell you that this will be completed before the end of August. 
• Please forgive me for missing this date of RV.  ALL SIGNS, INDICATIONS AND COMMUNICATIONS were there and I had so much confidence that it was happening.  LET ME BE VERY CLEAR, there was NEVER EVER ANY INTENTION OR PURPOSEFUL MISDIRECTION TAKEN ON MY PART TO HURT OR HARM ANYONE AT ANYTIME REGARDING THE TIMING OF THIS EVENT.  (I can just hear the trolls already!)
• Although this is a set back….it’s not the end by far.  We will still have the RV,  it will be just a couple of weeks from now.

Timeline:

• On Tues. 1 Aug. the first wave of liquidity started. …Bearded Patriot
• On Thurs. 3 Aug. evening FedNow was activated as the EBS merged with the Global Financial System.
• On Fri. 4 Aug. a number of very connected people had to be in place. …MarkZ
• Sun. 6 Aug.  Banks have until Sunday to “synch up” with the Central Bank of Iraq. Action on Sunday will drive the Dinar rate DOWN to 1,300 to 1 US Dollar. This will match the rate on the street and the budget.
• Mon. 7 Aug. United Bank of Switzerland American Group is poised to make sweeping changes to the senior ranks of its investment banking division globally as soon as Monday – they are restructuring the bank.  https://www.reuters.com/business/finance/ubs-nears-major-investment-bank-restructuring-sources-2023-08-04/
• NESARA/GESARA was said set to be announced sometime between Tues. 8 Aug. and Tues. 15 Aug.
• Wed. 9 Aug. CBI will revalue the Iraqi Dinar to 1,000 to 1. The CBI will then “drop the 3 zeros” to 1-$1 with the US dollar, at which point the Dinar will be tradable and “floating” on the Forex. It will NOT float down.
• Thurs. 10 Aug. “First major figure to “leave the stage.”
• Sat. 12 Aug. drop dead deadline for the RV as decided last Fri. by BRICS nations.
• On Aug. 22-24 BRICS’ original five members – Brazil, Russia, India, China and South Africa – were due to convene in Johannesburg and formally announce the Global Currency Reset during their Summit meetings.

Dinar RV Breaking News🔥Governor of CBI & Ministry of Finance: To Discuss...

"BAGHDAD & LONDON DISCUSSING IRAQ'S SETPS IN JOINING THE INTERNATIONAL FINANCIAL SYSTEM", 6 AUGUST

 Baghdad And London Are Discussing Iraq's Steps In Joining The International Financial System

Money  and business   Economy News – Baghdad  Finance Minister Taif Sami discussed with the British Ambassador to Baghdad, Stephen Hitch, on Sunday, the development of joint cooperation in the field of economy, the exchange of experiences, and Iraq's steps in joining the international financial system.The Ministry of Finance said in a statement, "The Minister of Finance, Taif Sami Muhammad, received today, Sunday, the British Ambassador to Baghdad, Stephen Hitch, and his accompanying delegation.

The two parties also discussed "mechanisms of joint cooperation in the field of supporting financial and banking policies, building human capacities, discussing Iraq's steps to engage in the international financial system, and the most prominent procedures and reforms that the government is taking in the field of the banking and financial sector, in a way that contributes to enhancing economic development in Iraq."   Views 36  08/06/2023 - https://economy-news.net/content.php?id=35523

A Partnership Between The International Islamic Bank And CR2 To Develop Banking Services In Iraq

Economy | 11:18 - 05/08/2023  Baghdad - Mawazine News   The International Islamic Bank (IMTB) in Iraq announced the signing of a strategic partnership with CR2 Company, with the aim of developing banking services.

This partnership represents an important stage for the International Islamic Bank, as it will contribute to the transformation of banking services into a digital format and promote advanced digital banking solutions in the Iraqi market.

This partnership will provide secure and enhanced digital banking services to individual and corporate customers, with an excellent user experience, simple payment processes, and access to a wide range of banking services anytime and anywhere.

The partnership will also include the development of a mobile banking application for the International Islamic Bank, which is compatible with customer needs and provides simple and digital financial services such as money transfer and electronic payment.

These innovative mobile banking solutions will enable customers to manage their accounts and access a wide range of banking services directly from their smartphones.

In addition, this partnership will develop new products and services that meet the current and future needs of the Iraqi banking market.

The partnership aims to increase reliance on digital technology services among the existing customer base, and expand the new customer base by improving banking services.

This partnership comes in response to the vision of the Central Bank of Iraq for digital banking services, and aims to promote digital transformation in banking services by expanding the digital presence of the International Islamic Bank in Iraq.

Kieran Kilcullen, CEO of CR2 commented, “We are delighted to sign this partnership with the International Islamic Bank to provide innovation solutions for digital banking services.

It is an important step in meeting the needs of customers, and we are very proud of the opportunity to play the role in supporting the bank with our expertise and innovation from markets across The world The banking and payments landscape continues to change, and we see many opportunities for banks to take leadership positions with innovative, secure, and easy-to-use digital solutions that enable their customers to succeed.”

Suha Al-Kafaei, Managing Director of the International Islamic Bank commented, “It is important that we continue to develop and innovate the International Islamic Bank.

This partnership with CR2 will provide us with the development of banking products. We are very pleased with this opportunity that will provide digital banking and future banking solutions, according to what is happening around This relationship will ensure that the International Islamic Bank becomes a leading party in finding pioneering solutions for our clients, whether in the retail sector or in the business sector.

About the International Islamic Bank The

International Islamic Bank was established as an independent financial entity, offering a wide range of services that meet the needs of individuals, institutions and companies, in addition to the basic services represented in personal and commercial accounts, Islamic Murabaha, investment financing, opening letters of credit, credit operations and letters of guarantee online, in addition to electronic services multi.

We proceed according to a focused economic banking vision towards providing digital technological innovation (banking) in managing money remotely through an administrative staff specialized in the field of banking information management technology and creating an integrated digital banking environment that comes through the product of a case study of global development (governance) mixed with the need of the market and business management for advancement With a tight digital banking economy in the Iraqi market, the region and the world.

We are also proud of obtaining a 91% assessment of the quality of services from the Central Bank of Iraq, a certificate of evaluation of 4/5 for (governance) practices and institutional innovation, and some important international awards, including the award for the best bank in the diversity of services and products in Iraq in 2022 by the International Federation For Arab bankers, and other awards and posts.

Join us to shape the future of banking in Iraq.

For more information, please visit the website: www.imtb.iq