US sanctions Iraqi Banks, plans to ban foreign electronic payments, 17 FEB

 US sanctions Iraqi Banks, plans to ban foreign electronic payments

Shafaq News/ The United States imposed sanctions on several Iraqi banks and plans to prohibit the use of electronic payment cards abroad, an Iraqi government source revealed on Sunday.

The source, who requested anonymity, told Shafaq News that Iraqi authorities received an official notice from the US Treasury Department detailing the sanctions, which target banks and exchange companies accused of facilitating illegal transfers and funneling US dollars to sanctioned entities, particularly in Iran.

“As a first phase, sanctions have been placed on five Iraqi banks, with more under review,” he noted. “The US also informed Iraq of a decision to ban the use of all electronic payment cards outside the country within two months after uncovering suspicious transactions.”

The move follows investigations by a US monitoring team tracking financial activity in Iraq. The source remarked that “additional sanctions could follow as other banks and firms remain under scrutiny.”

The latest action extends a series of US restrictions on Iraqi financial institutions. In July 2023, the Treasury barred 14 banks from accessing dollars, including Al Mustashar Islamic Bank, Al Qurtas Islamic Bank, Erbil Bank, and International Islamic Bank. Four more were added in November, while others were removed from Iraq’s daily currency auctions over similar concerns.

JON DOWLING UPDATE, 17 FEB

 Jon Dowling

 So many events coming to a head as we speak! President Trump to meet with Putin and XI, looking like sometime next week. Iran is being put in the penalty box big time! Reciprocal tariffs are leveling the playing field for all countries in preparation for the reset.

 Iraq's President Abdul Latif setting up the lawsuit against PM Sudani for the 18th, the same time around when the aforementioned meetings are to occur. 

The Treasury is tamping down on the banks hard, not allowing them to get away with their money laundering and games they're accustomed to playing up to this point. Which is why you're starting to see all the layoffs.

 And Iraq looks to finally be serious about getting the three approved laws into the Gazette at long last and moving things forward. Judy Shelton and Ron Paul are definitely working together to bring back the Gold standard and in the process remove the IRS completely.

MZ: They told us in 2023 that when the Arab summit returned –the dinar would have a new value! #iqd

 

Iraqi PM discusses Digital Cooperation with Veridos, 16 FEB

 Iraqi PM discusses Digital Cooperation with Veridos

Iraqi Prime Minister Mohammed S. Al-Sudani met on Friday with Marc Siewert, CEO of Berlin-based Veridos, on the sidelines of the 61st Munich Security Conference (MSC).

Discussions focused on strengthening cooperation with Veridos, a global leader in secure passport and national ID card production, particularly through its manufacturing facility in Baghdad, which plays a key role in Iraq-Germany economic relations.

Al-Sudani welcomed Veridos' ongoing projects and was briefed on its latest programs, especially in digital transformation and modernizing government services.

MAJEED UPDATE, 16 FEB

 MAJEED

It is mentioned in the central Bank of Iraq website “ and upgrade the public and private banking sector in line with international standards and to facilitate the involvement of Iraqi banks in the network of financial relations internationally.”

3:30 PM · Feb 16, 2025

FIREFLY: We can cover 100% on almost any rate that we want to come out with.!! @DINARREVALUATION

 

Central Bank announces details of its meetings with the Treasury and the Federal Reserve, 16 FEB

 Central Bank announces details of its meetings with the Treasury and the Federal Reserve

The Central Bank announced the end of the first quarterly meetings for the year 2025 with the US Treasury and the US Federal Reserve, which were held in Dubai / United Arab Emirates with the participation of international auditing and consulting firms (EY, K2 Integrity, Oliver Wyman). The meetings culminated in praise for the steps taken by the Central Bank of Iraq and the Iraqi government in reforming the banking sector, the most important of which were:

The development of the US dollar cash distribution system in Iraq, which they considered the most controlled and monitored system in the world, which limits manipulation and smuggling of the US dollar.

The qualitative shift in foreign transfer operations and the steps taken by the Central Bank of Iraq to address the risks arising from these operations, which have now risen to the levels of transfer operations carried out by international banks.

The consulting firms (EY and Oliver Wyman) reviewed the plans to reform and upgrade the public and private banking sectors in line with international standards and to facilitate the involvement of Iraqi banks in the international financial relations network.

Since the operations carried out by banks operating in Iraq depend largely on the trust of international correspondent banks in the Iraqi banking sector, we emphasize the need to ensure that the official channels of this bank are adopted to know the latest news and not to transmit incorrect news such as some Iraqi banks being subject to international sanctions and others.

Central Bank of Iraq
Media Office
February 16, 2025  link