Article: "ANTI-MONEY LAUNDERING OFFICE: IRAQI AUTHORITIES FACE DIFFICULTY TRACKING
DIGITAL TRANSACTIONS"
Quote: "Iraqi authorities are facing difficulty in tracking digital transactions." ...this article tells us there is still a heavy reliance on “cash transactions”
...there will still be a need to have these larger notes for foreign trade even after the Project to Delete the Zeros is completed.
We also have to think about all the countries that have the three zeros notes now in their country’s foreign reserves. So these older three zero notes are not going away. Ours will be valuable!
New US Sanctions Shake Iraqi Banking Sector, Ban Use Of Payment Cards Abroad
02/16/2025 Mawazine News – Economy Iraqi government sources reported on Sunday that Baghdad received an official notification from the US Treasury Department imposing sanctions on five Iraqi banks, in addition to a number of exchange companies, due to their involvement in illegal money transfers inside and outside Iraq, and smuggling dollars to banned entities, most notably the Islamic Republic of Iran.
According to the US notification, the sanctions will not stop there, as the work of other banks is being closely monitored and may face similar measures in the near future.
The new US decision also included imposing a comprehensive ban on the use of Iraqi electronic payment cards outside the country during the next two months, in a move aimed at preventing currency smuggling after suspicious financial movements were monitored by a specialized US team.
It is
noteworthy that the US Treasury Department had previously imposed sanctions on 14 Iraqi banks in July 2023, and prevented four other banks from accessing the dollar in November of the same year, and imposed strict restrictions on money transfers in cooperation with the Central Bank of Iraq.
These measures come within the framework of an escalating US policy to control financial transactions in Iraq, amid fears of continued money laundering and currency smuggling, which imposes additional challenges on the Iraqi banking sector and its financial stability. https://www.mawazin.net/Details.aspx?jimare=259611
The discussion begins with the remarkable initiatives undertaken by Iraq, including a significant 15,000-acre housing project, financing for power plant enhancements, and expansions in the oil and gas sector.
The transcript highlights the substantial investments made by international companies such as Standard Chartered and BP, which collectively contribute billions to Iraq’s economy.
Additionally, the launch of new commercial projects, including the Baghdad Mall, signals a transformation in the retail landscape.
The transcript further indicates a shift in Iraq’s financial stability, with experts asserting that the country is on the brink of a significant economic change, marked by increased gold reserves and stability that enables Iraq to potentially assist other nations.
Finally, there is mention of lifting the European ban on Iraqi Airways, which could enhance international travel and commerce. Overall, the transcript reflects a sense of optimism and anticipation regarding Iraq’s economic future.
🌍 Massive Investments: Iraq is seeing significant international investments, including a $25 billion commitment from BP.
🏗️ Major Housing Project: A sprawling 15,000-acre housing initiative has been launched, demonstrating Iraq’s commitment to addressing housing needs.
🏬 Iraq Mall: Set to open in late 2025, this mega shopping and entertainment hub will redefine Baghdad’s retail and leisure landscape.
💰 Financial Stability: Experts assert that Iraq is financially stable, with no need for foreign aid and a surplus of reserves.
📈 Economic Growth: New economic agreements with neighboring countries, such as Kuwait, indicate a robust economic strategy.
⚖️ Gold Reserves Increase: Iraq has increased its gold reserves significantly, enhancing its financial security.
✈️ Lifting Travel Bans: The government is pushing to lift the European ban on Iraqi Airways, which could boost international connectivity.
Key Insights
📊 Investment Surge: The influx of investments from major global corporations like BP and Standard Chartered signifies growing confidence in Iraq’s economic recovery. These investments are not merely financial; they are pivotal in modernizing Iraq’s infrastructure and energy sectors, which have been historically challenged. The commitment of $25 billion from BP is particularly noteworthy as it reflects a long-term vision for Iraq’s oil industry, pivotal to the nation’s economic health.
🏡 Housing Development as a Priority
: The initiation of a massive 15,000-acre housing project highlights the Iraqi government’s recognition of the acute housing crisis facing its population. This project is essential not only for providing homes but also for stimulating economic activity through job creation and infrastructure development. It points to a holistic approach to urban planning and development in a nation where reconstruction is crucial.
🛍️ Transformative Retail Experience: The planned Iraq Mall, set to be one of the largest in the region, emphasizes a shift towards modern consumerism and lifestyle changes in Baghdad. This development will not only offer global brands to Iraqi consumers but is also expected to attract tourism and create a space for social interaction, thereby enriching the local economy. The mall could become a central hub for commerce and leisure, indicating a shift in societal norms towards more Western-style retail experiences.
📈 Economic Self-Sufficiency: The assertion that Iraq does not require foreign aid and has substantial reserves is a significant shift in narrative. This positions Iraq as a potential leader in regional economics, capable of extending support to neighboring countries. Such a stance enhances Iraq’s geopolitical significance, as it can leverage its resources for diplomatic and economic alliances.
💎 Increased Gold Reserves: The increase in Iraq’s gold reserves is indicative of a strategic move towards strengthening its financial foundation. Gold is often seen as a safeguard against economic instability, and Iraq’s decision to bolster its reserves reflects a commitment to financial prudence and security, which can also inspire investor confidence.
🤝 Strengthening Regional Ties: New economic agreements with Kuwait and other regional players reveal Iraq’s strategic shift towards regional collaboration. These agreements could pave the way for joint ventures and shared resources, crucial for economic recovery and stability. This collaborative approach is necessary for addressing regional challenges and enhancing collective growth.
✈️ Reviving International Connectivity: Efforts to lift the European ban on Iraqi Airways point towards an intent to reintegrate into the global travel and trade network. Enhanced travel options are vital for economic revitalization, as they facilitate tourism, business travel, and international commerce. The resumption of operations will likely have a direct positive impact on Iraq’s economy by improving foreign relations and trade opportunities.
From massive investments and housing developments to a new retail revolution and strengthening regional ties, Iraq appears poised for significant growth and transformation.
The overall sentiment reflects optimism among experts and stakeholders about the future of the Iraqi economy, suggesting that the nation is on the threshold of a robust economic revival.
After Meeting With The US Federal Reserve, The Central Bank Denies That Iraqi Banks Are Subject To Sanctions
Economy |- 02/16/2025 Baghdad - Mawazine: The Central Bank of Iraq denied the existence of international sanctions on some Iraqi banks, after media outlets circulated news about sanctions that included dozens of banks in the country.
The Central Bank stated in a statement received by "Mawazine", a copy of it, that "it announced the end of the first quarterly meetings for the year 2025 with the US Treasury and the US Federal Reserve Bank,
which were held in Dubai / United Arab Emirates with the participation of international auditing and consulting firms (EY, K2 Integrity, Oliver Wyman), and 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 cash distribution system for the US dollar in Iraq, which they considered the most controlled and controlled system in the world, which limits manipulation and smuggling of the US dollar,
in addition to the qualitative shift in foreign transfer operations and the steps taken by the Central Bank of Iraq to address the risks resulting from these operations, which have now risen to the levels of transfer operations carried out by international banks.
The statement confirmed that the consulting firms (EY and Oliver Wyman) reviewed the plans to reform the government and private banking sector and upgrade them in line with international standards and to facilitate the involvement of Iraqi banks in the network of financial relations internationally."
The statement added: "Since the operations carried out by banks operating in Iraq depend largely on the confidence of international correspondent banks in the Iraqi banking sector, we stress 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." https://www.mawazin.net/Details.aspx?jimare=259609
On Thurs. 30 Jan. 2025 the privately owned Fed and IRS officially dropped d**d – when the US Treasury withdrew from the C***l’s Bankrupt Central Banks across the World. President Trump has said he will replace the IRS with the ERS (External Revenue Service) where taxation on goods will replace taxation on The People and their income.
Since Friday 3 Feb. 2023 all Basel 4 Compliant banks have gone public with the new Gold / Commodity-backed currency International Rates as required by the GESARA Law. This is the Re-evaluation of all the global currencies (meaning the global currency reset).
Tues. 11 Feb. 2025 Official Notification: Leaders in the Global Currency Reset received signal payments authorized by the Quantum Network
This week the Quantum Financial System was said to be fully operational for completion of that Global Currency Reset.
The use of the FIAT US Dollar will be used for up to 90 days Feb. / March / April parallel with the new United States Note (USN), they may cut it off of by April 30th or soon thereafter. …Bruce
