MP: The US Federal Reserve is besieging Iraqi liquidity through the dollar
Firas Al-Maslamawi, a State of Law MP, stated on Tuesday that the Federal Bank’s measures were the primary cause of the ongoing lack of financial liquidity and urged the Ministry of Finance to find alternatives.
“Iraq is not poor and has many resources,” Al-Maslamawi stated, “but there is a problem in delivering the oil sales money that arrives through the Federal Bank after three months.”
He continued by noting that “the external liquidity file requires a high-level government effort in order to resolve this issue and increase the quantities of dollars flowing into Iraq” and that “the means of delivering the dollar and its restriction by the Federal Bank cast a shadow over the creation of liquidity in the Ministry of Finance.”
He emphasized that in order to “dispense with the dollar,” it was necessary to “transform into agreements similar to the Chinese accounting agreements, providing services in exchange for oil,” and that “the US Federal Reserve is still imposing its conditions on Iraq to pressure the parallel market.”
In other words-Iraq factions leaders, get TF out now or else be killed because the U.S. Treasury led by DJT is forcing us & pressuring our hands &…on top of it all, we have our Dinar currency to reinstate very shortly to give our ppl purchase power!
This further tells me…CBI Governor Alaq & Prime Minister Al-Sudani were puppets & part of the problem in Iraq, letting Iranian factions steal from the Iraqi citizens all this time right?
Politics | 07/10/2024 Mawazine News – Baghdad Prime Minister Mohammed Shia al-Sudani directed today, Monday, to continue simplifying procedures, pursuing speculators, and reviewing financial and banking reforms.
The Prime Minister's media office said in a statement received by / Mawazine News / that "Prime Minister Mohammed Shia al-Sudani chaired a meeting dedicated to reviewing the comprehensive reform plan for the financial and banking sector in Iraq, in the presence of the Minister of Finance, the Governor of the Central Bank of Iraq, and a number of advisors and directors of government banks."
The Prime Minister stressed "the need to intensify inspection procedures in financial transfer operations, and not to be lenient or lenient in pursuing speculators who exploit the crises that the region is going through, in order to achieve personal profits and benefits at the expense of the public interest of the country, directing the Ministry of Finance, the Central Bank, and bank directors to simplify procedures for business owners, regarding financial transfers.
" Al-Sudani directed "the formation of a working team, working on preparing packages to deal with the current economic and financial situation, and resuming work with investment tools in the Central Bank of Iraq and linking them to the size of each bank's deposits."
According to the statement, "The meeting discussed financial reforms and monetary policies adopted in light of the decisions taken by the Council of Ministers, where His Excellency directed to fully activate all decisions and review the obstacles that prevented the implementation of some of them."
During the meeting, "the progress of work in the plans prepared within the framework of developing the work of banks, the reform measures undertaken by the banks' administrations with Ernst & Young, and the level of progress achieved in this regard were discussed, in a way that ensures providing the best services to their customers."
The meeting also discussed "the facilities provided by banks in the field of attracting deposits, which enhances the role of the banking sector in financing projects and promoting economic development, and His Excellency directed to review the benefits provided by banks to depositors."
The meeting also addressed "the measures taken to encourage citizens to continue using electronic payment systems, which are witnessing a significant increase in the number of users. In this regard, Mr. Al-Sudani directed to study and launch the government incentive program for the use of electronic payment tools, including cash refunds." https://www.mawazin.net/Details.aspx?jimare=255710
"Indonesia Launches CCP for Money Market and FX Transactions"
CCP stands for Central Counterparty, a financial market infrastructure that acts as an intermediary between buyers and sellers in a financial transaction.
CCPs clears and settles financial instruments, such as securities, derivatives, options, and foreign exchange. They also manage counterparty credit risk, which is the risk of default between the two parties to a transaction.
Shafaq News/ Iraq has taken high-level steps to prevent any potential cyberattacks, as tensions continue to escalate in the region, an Iraqi government source disclosed on Tuesday.
The official, who spoke on condition of anonymity, told Shafaq News that Iraq’s cybersecurity defenses are well-prepared. “There is a highly skilled cybersecurity committee in place, along with significant contributions from the National Security Agency to secure Iraq's cyberspace," the source said.
The official dismissed the likelihood of a cyberattack, whether from Israel or any other external or internal entity. "A cyber strike is neither feasible nor likely," the source stated, assuring that Iraq has established strong defensive measures in this area.
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High-level protocols have been implemented to counter any potential cyber threats, the official said, adding that there are "no concerns or consequences" even if an attack were launched in the coming weeks.
The announcement comes weeks after the Iraqi Ministry of Interior denied reports of an imminent cyberattack and urged citizens to be cautious of suspicious emails and unknown links.The increasing regional tensions, particularly involving the Israeli breach of the Iranian-backed group Hezbollah escalated fears in Iraq.
Israel has been known to use cyber operations as part of its broader strategy to exert influence and destabilize its adversaries. For instance, Israeli-linked cyber-espionage groups have targeted Hezbollah members including Secretary-General Hassan Nasrallah and many commanders of the Jihad Council.
