Kurdistan banks will take their share of sanctions. Economic shows the reasons, 28 FEB

Kurdistan banks will take their share of sanctions. Economic shows the reasons

Baghdad Today – Baghdad

The economic expert Hividar Shaaban, on Thursday (February 27, 2025), said the reasons for imposing US sanctions on a number of banks in the Kurdistan Region.

Shaaban said in an interview with “Baghdad Today” that “within the framework of coordination between the US Treasury Department and the Central Bank of Iraq, sanctions will be imposed on banks in the region, including banks participating in the Hassabi project for the salaries of employees in Kurdistan.”

“This process is to control currency smuggling in some banks in the region, control money laundering, illegal transactions, and the process of structural regulation of banks,” he added.

Earlier this February, two informed sources said that the Central Bank of Iraq will prevent local banks from dealing in dollars.

Reuters quoted the sources as saying: “The Central Bank of Iraq will prevent 5 local banks from dealing with dollars at the request of the US Treasury.”

“Three payment service companies will be banned from dealing in dollars according to the request of the US Treasury,” the sources added.

They pointed out that “America submitted its request due to serious monetary violations and smuggling of the dollar out of the country.”

https://baghdadtoday.news/268804-مصارف-كردستان-ستأخذ-نصيبها-من-العقوبات.-اقتصادي-يبين-الأسباب.html

Walkingstick : Iraqi Bank friend Aki update!!, 28 FEB

 Walkingstick

  [Iraqi Bank friend Aki update]

 Very early in the morning Aki will be part of a large meeting that will be broadcast to all the CBI banks, even all the private banks, financial institutions that have been working on the monetary reform with the CBI and the US Treasury...with the CBI. 

 It will go for two days, Thursday and Friday.  

More than likely one day will deal with banks, exchange rate, currency, monetary reform and the other day will deal with the international status of Iraq. 

MARKZ: UPDATE ABOUT THE PAYMENTS OF THE HISTORIC BONDS! ‪@DINARREVALUATION‬ #iraqidinarinvesto

 

Iraqi Bank of Trade stops withdrawing cash through ATMs outside Iraq, 28 FEB

 Iraqi Bank of Trade stops withdrawing cash through ATMs outside Iraq

 The Iraqi Bank of Commerce announced on Wednesday the suspension of cash withdrawals through ATMs (ATM) using electronic cards (Visa and MasterCard) outside Iraq, as part of preventive measures to avoid security risks associated with the misuse of these cards.

Useful summary.. In the important news, you can find it in the Euphrates News channel on Telegram. To subscribe /a>

The bank explained, in a statement received by {Euphrates News} a copy of it, that: “The decision only includes cash withdrawals from ATMs outside Iraq, while users can continue to use cards to pay through POS devices or in electronic operations on the Internet.”

The bank pointed out that “this measure comes in order to protect customers’ funds from any security threats that may result from the misuse of cards in some areas.”

https://alforatnews.iq/news/المصرف-العراقي-للتجارة-يوقف-السحب-النقدي-عبر-أجهزة-الصراف-الآلي-خارج-العراق

FIREFLY: We don't think the oil is going to flow at 1310, 27 FEB

  Frank26 

 [Iraq boots-on-the-ground report]  

FIREFLY:Television says the Oil Minister is now saying the oil export flowing to regions is now happening much earlier than expected.  It will start flowing next week.  This is excellent news.  We don't think the oil is going to flow at 1310. 

  FRANK:  I don't either.  Everything seems to be coming to a massive collision.  It's like an atom smasher.  I don't think it's going to be flowing at 1310...I'm very confident the oil is going to start flowing next week.  I'm not as confident it's going to be revealed at 1310. I am confident it's going to be done at a new exchange rate but I don't know when it will be revealed at that rate.  

FIREFLY:  Now it's saying that it's going to be at 1310...

FRANK26….2-26-25……..AKI/BANK STORY

Rafidain Bank Affirms Its Commitment To Developing The Financial Sector And Enhancing Digital Transformation, 28 FEB

 Rafidain Bank Affirms Its Commitment To Developing The Financial Sector And Enhancing Digital Transformation

Banks  Economy News – Baghdad  Rafidain Bank affirmed, on Wednesday, its commitment to developing the financial and banking sector and enhancing its role in supporting digital transformation and financial inclusion.

A statement by the bank, seen by "Al-Eqtisad News", stated that "as part of its ambitious strategy to enhance its leading position in the Iraqi banking environment, Rafidain Bank participated in the 9th Annual Exhibition and Conference on Finance and Banking Services in Iraq", stressing "its commitment to developing the financial and banking sector and enhancing its role in supporting digital transformation and financial inclusion".

The statement added that "the conference witnessed a wide presence from various financial and banking institutions, in addition to an elite group of experts in digital technology and electronic services, as its activities focused on the importance of digital transformation and the application of electronic payment technologies as a means of facilitating access to banking services, which contributes to enhancing financial and economic stability in light of the current challenges".

It pointed out that "the bank reviewed the latest digital banking solutions it provides, through its special pavilion at the exhibition, where it provided electronic payment services through banking applications, in addition to innovative solutions that enable individuals and companies to conduct their financial transactions easily and safely", 

indicating that "this comes in line with the bank's orientation towards renewing its banking identity under the slogan "Iraq is renewed", which reflects its ongoing commitment to developing its services according to the latest international banking standards".

The statement stressed that "the bank focused on the importance of enhancing financial inclusion by enabling citizens in cities and rural areas to access digital banking services, which contributes to stimulating economic activity and supporting sustainable development."

The statement continued, "On the sidelines of the conference, participants exchanged experiences on the future of digital transformation in the banking sector, and discussed ways to enhance cooperation between banks and financial institutions to develop the electronic payment environment and spread financial awareness among citizens, in a way that supports building a more advanced and comprehensive banking system in Iraq."   https://economy-news.net/content.php?id=53004