Financial Advisor to Prime Minister Mazhar Mohamed Saleh confirmed on Wednesday that the government and the Monetary Authority are working on a comprehensive reform of the national banking system, with the aim of enhancing its stability and protecting it from the repercussions of any default in integration with the global financial system.
Saleh explained to {Al-Furat News} that “the reform efforts include restructuring of private and government banks, pointing out that the American specialized company Oliver Wyman is currently studying the status of private banks, while E&Y is working on evaluating government banks, to come up with a unified vision aimed at developing the banking sector and ensuring its effective integration into the international financial system.”
In this video, the host, Sandy, delves into her journey of investing in the Iraqi dinar (IQD) and shares insights about the complexities of the Iraqi economy and its currency.
The narrative begins with a historical backdrop where U.S. military personnel were encouraged to invest in Iraq through a letter from Condoleezza Rice.
Sandy recounts her personal experience as a tax preparer for a U.S. soldier returning from Iraq and her subsequent involvement in IQD investments.
She reflects on the challenges faced during the pandemic while living in Acapulco and how it led to her decision to create the YouTube channel, Edu Matrix, dedicated to providing honest information about the IQD.
As she explores the realities of the Iraqi economy, Sandy highlights the misconceptions about the potential revaluation of the IQD. She discusses the resentment of the Iraqi people towards the U.S. presence and the overprinting of currency following the 2003 invasion. Through her research, Sandy uncovers deeper issues related to Iraq’s economic standing, cultural nuances, and the psychological barriers surrounding the IQD investment.
The video also sheds light on Iraq’s ambitious development projects aimed at improving its global economic position, including a significant infrastructure initiative to connect Asia with Europe. Despite her focus on the IQD, Sandy emphasizes the importance of diversifying investments, introducing viewers to gold, cryptocurrency, and real estate as viable options. She shares her views on the future of Iraq’s currency in a digital age and the potential implications for IQD investors.
💌 Military Investment Encouragement: The video opens with a historical note about U.S. military personnel being encouraged to invest in Iraq through a letter from Condoleezza Rice.
🌍 Pandemic Pivot: Sandy’s YouTube channel, Edu Matrix, gained traction during the pandemic, providing her with a platform to share her insights on the IQD.
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Economic Misconceptions: Sandy identifies common misconceptions about the potential revaluation of the IQD, stressing the economic realities that contradict these beliefs.
📉 Cultural Resentment: The video highlights the deep-seated resentment among the Iraqi populace towards the U.S. following the 2003 invasion and its impact on investment perceptions.
🚧 Infrastructure Projects: Iraq’s ambitious infrastructure projects are discussed, showcasing efforts to improve economic conditions and connect with global markets.
💰 Investment Diversification: Sandy emphasizes the importance of diversifying investments beyond the IQD, introducing options such as gold, cryptocurrency, and real estate.
📈 Future of the IQD: The potential shift towards digital currency in Iraq raises questions about the future accessibility and viability of the IQD for investors.
Key Insights
📜 Historical Context Matters: Understanding the historical context, such as the U.S. military’s encouragement for investment in Iraq, provides a framework for analyzing current economic sentiments. This backdrop shapes the perceptions of both Iraqi citizens and foreign investors regarding the IQD and the U.S. presence in Iraq, creating
a complex investment landscape fraught with emotional and historical nuances.
🌐 Pandemic as a Catalyst for Change: The pandemic served as a catalyst for Sandy’s YouTube channel, illustrating how adverse situations can lead to new opportunities. Her isolation and time for reflection prompted her to seek and share truthful information about the IQD, highlighting the crucial role that digital platforms play in information dissemination during crises.
❓ Economic Realities vs. Investor Expectations: Sandy’s exploration of the IQD reveals a significant disconnect between investor expectations and economic realities. The idea that the IQD could revalue to $1 is challenged by the fundamental issues within Iraq’s economy, including overprinting and lack of international trust, emphasizing the importance of realistic financial education for investors.
🤝 Cultural Sensitivities in Economics: The video underscores the cultural sensitivities surrounding Iraq, particularly regarding its economic relationships and internal dynamics. The resentment felt by Iraqis towards foreign influence complicates the investment landscape, indicating that understanding local sentiments is crucial for any foreign investor considering the IQD.
🚄 Ambitious Infrastructure Initiatives: The proposed infrastructure projects in Iraq represent a significant shift in the country’s economic strategy, aiming to enhance connectivity and trade. This development is pivotal for attracting foreign investments and improving Iraq’s global economic standing, suggesting that investment opportunities may arise from these initiatives.
⚖️ Diversification as a Strategy: Sandy advocates for diversifying investments to mitigate risks associated with relying solely on the IQD. By exploring gold, cryptocurrency, and real estate, she provides her audience with alternative avenues for financial growth, which is especially relevant in an unpredictable economic climate.
💻 Digital Transition and Future Implications: The potential move towards digital currency in Iraq poses important questions about the future of traditional currency investments like the IQD. Sandy’s concerns about access to Iraqi bank accounts and participation in the Forex market highlight the need for investors to stay informed and adaptable in a rapidly changing financial landscape.
In conclusion, this video not only chronicles Sandy’s personal journey with the IQD but also serves as a broader commentary on the complexities of investing in emerging markets. It combines historical context, economic analysis, and investment strategies, providing a comprehensive overview for viewers interested in the dynamics of the Iraqi economy and currency.
FRANK26: "THE NEW EXCHANGE RATE SAYS KEEP YOUR EYES ON ME IRAQI CITIZENS."......F26
Parliamentary Finance: Salaries are secured and there are no concerns about them
2/18/2025
The head of the Parliamentary Finance Committee, Atwan Al Atwani, confirmed that salaries are secured and there are no concerns about their disbursement in the near future.
A statement from his office, a copy of which was received by {Euphrates News}, stated that:
“This came during the hosting by the Finance Committee, headed by Atwan Al-Atwani and in the presence of its members, today, Tuesday, of the Governor of the Central Bank, Ali Al-Alaq, and the senior staff in the bank, and the directors of Rafidain Bank and the Trade Bank of Iraq.” He added, "The meeting discussed the country's financial and monetary policy, to identify the successes and failures during the past three years, and to review what has been achieved in this sector. The meeting also reviewed the most prominent challenges facing the financial sector and the banking system, including the dollar exchange rate, and ways to address them so that local banks can play their main role in achieving sustainable development."
The statement continued, “The meeting also discussed the file of foreign transfers and import invoices, and the importance of having an interconnection with customs and taxes, in order to end the gap between the amount of dollars spent on imports and the customs and tax revenues achieved.”
He added, "The file of external sanctions targeting our local banks and their impact on the Iraqi economy was also discussed, as well as monitoring the foreign trade process after the platform was cancelled. Discussions were also held regarding decisions related to obligating citizens to buy and sell real estate through banks, in addition to raising fees for electronic payment cards, and other executive actions that affect citizens."
Al-Atwani stressed that: “The meeting was held to review the financial and monetary policy to diagnose the defect and develop solutions,” noting that “talking about the difficulty of the financial situation does not mean the inability to secure salaries, but rather relates to the government fulfilling its contractual obligations by providing allocations for new and ongoing projects and financing the governorates.”
He said, “The Finance Committee may hold a special session in the House of Representatives to discuss developments in the financial situation,” stressing that “there are no new external sanctions against any Iraqi banks, contrary to what is being circulated in the media.”
Al-Atwani said, “The official’s job is to confront and address the problem, not to complain to the media,” noting that “dollar sales are large and are supposed to generate customs and tax revenues that constitute an essential part of supporting the budget.”
He pointed out that "the Governor of the Central Bank is currently coordinating with the Ministry of Finance regarding the liquidity shortfall and expressed his support for addressing any imbalance and urged executive taking measures to maximize local revenue."
Question: What happened to the bond people that got paid. I thought bonds were supposed to kick everything off?
MarkZ: the bond folks who got money are the facilitators…not the bond holders. When the bond holders get their money …we are very close.On the positive side…things just lit up.
A number of bond holders have told me they expect to get their payments late this week into early next week.
This has come from many sources on 3 different continents. Since it came from so many sources I believe it’s safe to say that bond holders will soon have cash. It is my understanding the bond holders should get full payments.
They have to close out the old books so they can start the new books. Closing out the historic bonds closes out the old books. Bond facilitators told me they pay the commissions out first in fiat money …
then the bonds themselves will be paid in asset backed…then you and I all go to the bank...With the vast number of bond contacts that have checked in… I imagine groups will start checking in at any moment. Hopefully this will help us narrow down the timing.
FRANK26: "HYPERMARKET... SUPER MALLS... POWERFUL PURCHASING POWER COMING FOR THIS!!!".....F26
Al-Sudani: Marketing centers include 60% of local products, and importing goods requires a serious stance
2/19/2025
Prime Minister Mohammed Shia Al-Sudani confirmed today, Wednesday, that the planned marketing centers will contribute to supporting the local economy by including about 60% of locally manufactured products.
Al-Sudani's media office stated in a statement received by {Euphrates News} that "the Prime Minister opened the (Taawon Hypermarket) marketing center in Al-Bayaa to sell food, goods and merchandise at subsidized prices in Baghdad. He also opened, via a television circuit, 5 other marketing centers, distributed in the areas of Al-Hurriya, Al-Salihiya, Al-Shaab, Palestine Street and Jamila. His Excellency also launched the executive works for 23 similar projects in Baghdad and the governorates."
Al-Sudani toured the departments of the Cooperative (Al-Bayaa Hypermarket) and met with its employees, pointing out “the issue of social security and its inclusion of all workers in the private sector, and he viewed the wings where local products are sold,” appreciating all “the efforts that contributed to the success of this important vital economic project.” He stressed that "the Ministry of Commerce will continue with its plan, which aims to open 150 similar centers in all governorates." He also stressed that "the competent authorities will be directed to grant a privilege to social protection beneficiaries, by setting a specific discount rate for basic goods and food items for them in these centers." The Prime Minister explained that the idea of this project was launched to confront the rise in food prices as a result of global circumstances and wars, which were clearly reflected in our local markets, pointing out that the government intervened at the time to control prices and ensure that basic food supplies reached citizens.
Al-Sudani stressed that the role of the Ministry of Trade is not limited to trade exchange, but extends to encouraging national industry, by meeting the needs of the local market, explaining that “Iraq annually imports goods and products worth 70 billion dollars annually, a number that needs to be stopped and reviewed, because the Ministry of Trade is part of the effort that works to prepare the ways for the private sector to compensate for these imports that drain foreign currency.”
The following are the most important points made by the Prime Minister:
When it comes to food security for citizens, the state must be present.
- We controlled food prices, in cooperation with the private sector, despite the effects on the foreign exchange rate.
We have entered into partnerships with the private sector to open outlets to display food and other goods that citizens need.
The trial operation began a few weeks ago and there was a clear turnout from citizens. The goal is to provide reduced prices compared to market prices.
- Hypermarket cooperation projects are a goal of the Ministry of Trade to reach a percentage of local and manufactured goods within Iraq of no less than 60% of the exhibits.
We encourage these centers according to this model, and the goods and products they provide.
We call on businessmen and the private sector to invest in the current government support, which is unprecedented.
- Supporting the private sector begins with providing sovereign guarantees for industrial projects, through the Iraq Development Fund, and the ongoing economic reforms that include the financial and tax aspects, loans, and the banking sector.
The environment we provide for the private sector comes from the premise that there is no alternative for the Iraqi state to support this sector and make it capable in all aspects.
We directed the Industrial Coordination Council to be held on a monthly basis to include important decisions in the field of industry, and the Ministry of Commerce is present in this council.
We call on all authorities to encourage national industry and provide an attractive business environment for the private sector.
