Central Bank of Iraq signs agreement with Emirates Islamic Bank, 28 FEB

 Central Bank of Iraq signs agreement with Emirates Islamic Bank

The Central Bank of Iraq announced the signing of a banking agreement with Emirates Islamic Bank, which is considered one of the highest-rated Islamic banks, and is rated (A+) according to the international Fitch agency.

Thus, Emirates Islamic Bank is a distinctive addition to the banking relations that the Central Bank of Iraq has established with advanced regional and international banks in recent years.
The agreement includes joint cooperation on several axes, the most important of which are:

Exchange of experiences in the field of developing the Islamic banking sector.

Providing payment services in UAE Dirhams to Iraqi banks and expanding their correspondent accounts network .

Cooperation between Iraqi banks and Emirates Islamic Bank, under the supervision and support of the Central Bank of Iraq, to ​​formulate a mechanism that will allow individual customers of Iraqi banks in the near future to invest (partially) in Islamic bonds issued by Emirates Islamic Bank or other issuers with a similar credit rating in the United Arab Emirates.

It is noteworthy that the Central Bank of Iraq announced in August of last year the start of a new phase of foreign transfer operations in a step aimed at enhancing the diversity of currencies and facilitating international transfer operations. This announcement came after reaching an agreement on the mechanisms for regulating dealings in the euro, the Chinese yuan, the Indian rupee, the UAE dirham, and other global currencies.

Central Bank of Iraq
Media Office
February 27, 2025  link

AJ UPDATE, 28 FEB

 AJ

Kurdistan oil drama continues : The Kurdistan Oil Industry Association (EPICOR) responded to the statements of the Federal Oil Minister about resuming oil exports from Kurdistan within hours, stressing that there has been no official communication with its member companies to conclude new agreements that guarantee payment of dues for previous and future exports, confirming that it will not resume exports today. The association said in a statement, that “international oil companies are seeking to reach an agreement before resuming oil exports.” “EPICOR member companies are ready to resume exports immediately when an agreement is reached to pay for our past and future exports in accordance with existing legal contracts and commercial guidelines,” she added on Friday. Look - it happens, when it happens

12:58 PM · Feb 28, 2025

FIREFLY: "There is a rate and they have, they just not ready to show it yet" ‪@DINARREVALUATION‬ #iqd

 

Iraq agrees to supply Lebanon with crude oil, with immediate cash payment, 27 FEB

  Iraq agrees to supply Lebanon with crude oil, with immediate cash payment

 Lebanese media sources quoted informed sources as saying that the Lebanese delegation to Iraq (consisting of IDAL Chairman Mazen Sweid and Brigadier General Hassan Shaqir) agreed with Iraqi officials to renew the fuel supply contract to operate the Electricité du Liban plants with some amendments to its implementation mechanism.

The sources indicated that Iraq will supply about 2 million tons of crude oil after it had been supplying fuel oil, in exchange for paying the price of the shipments in cash and immediately, unlike the three previous versions of the contract that included Lebanon paying the price of the shipments through services provided in Lebanon to the Iraqis, provided that the previous arrears amounting to 2 billion dollars would be addressed through the platform between the two countries to provide the agreed-upon services.

By the end of 2024 and until the formation of the new government, a huge amount has accumulated on Lebanon for the price of fuel shipments. Lebanon has only paid $118 million out of $2 billion. This accumulated amount is the result of three copies of renewed contracts between the two parties.

The fourth version of the contract includes the supply of 2 million tons of crude oil and payment for it in cash.

These renovations were carried out with “provisions” and “sympathy” even though Lebanon was not paying the cost of the shipments. Despite Iraqi facilities, Lebanon was unable to pay the bills.

These facilities stipulated that Lebanon would pay the price of fuel in Lebanese pounds, and that the amounts would be deposited in the Iraqi government’s account at the Bank of Lebanon, and would be spent on services for Iraqis (including hospitalization and medical treatment for Iraqis in Lebanon) in Lebanon exclusively.  link

TIDBIT FROM CLARE, 29 FEB

 Clare 

 Article: “urgent   Oil Minister: Exporting the region's oil will begin within hours via the Turkish Ceyhan” 

 Quote: "Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani announced the imminent start of exporting oil from the Kurdistan Region....He explained that exports will be "at an initial rate of 185 thousand barrels, gradually increasing to reach the capacity specified in the general federal budget."

Article: "Confirming Shafaq News.. Trump is heading to impose sanctions on Iraqi groups" 

 Quote:  "The American website Fox News" published a report today, Wednesday, in which it referred to the 'maximum pressure' sanctions that the Trump administration is pursuing against countries that have economic and trade relations with Iran, including Iraq, which includes punishing a group of banks and controlling Baghdad's reserves at the US Federal Reserve...According to an informed political source, who told Shafaq News Agency, requesting that his name not be mentioned, American sanctions may be issued soon and will include a list of names of political figures who have armed factions."

A2ZANGELA : Iraq has officially published the Restitution Law ‪@DINARREVALUATION‬ #iraqidinarinvestor

 

STATUS OF THE RV . PART. 3 by Mnt goat, 28 FEB

 STATUS OF THE RV . PART. 3 

😊In line with this last article we have to connect the dots with other articles from today’s news to get the full present-day picture of what is going on. There are three more on this subject matter. They are titled:

“IT WILL NOT BE ON THE “LOSING TEAM”.. IRAQ MOVES TO THE POST-IRAN PHASE” and

“US PRESSURES BAGHDAD: IRAQI FM REVEALS DETAILS” and 

“RUSSIA-UKRAINE WAR ENDS: WILL IRAQ PAY THE PRICE FOR TRUMP’S FOCUS ON IRAN?“. 

If I were you I would spend a few minutes are read carefully these other three articles. You will get a very good sense of where this is all going. This news can also very good news for us because finally we may see Iraq getting serious about moving away from being a puppet state status of Iran. Remember the money laundering to Iran has to stop. This could help in this matter. 

The articles tell us that Iraq is facing to get out of the “Iranian orbit” and the “axis of resistance”, which took Iran years to build in order to expand its influence deep into the Arab world, but it is rapidly shrinking and could collapse overnight. So, you see folks, things could happen quickly. In weeks, maybe months but certainly not years. The Iranian axis of resistance has deteriorated during the past year from its formal rise to a stage of final decline, as Israel struck two of its main members, Hamas and Hezbollah, the regime of Bashar al-Assad fell, and the Lebanese parliament elected a new president and a new prime minister, who are not on friendly terms with Iran. The report in the article stated that until recently, Iran boasted that it controlled four Arab capitals: Damascus, Beirut, Sanaa, and Baghdad, but now the first two have slipped away, while the third is still under the control of the Houthis, who are still loyal to Tehran. But what about the fourth, Baghdad? 

Can the Iraqi’s overcome the Iranian influence. Will they have to wait until the next elections to do so? We all experienced their elections and how cumbersome and long they can be. But let’s just see what happens. At least there is finally pressure from the US and plans are in place now to end this Iranian influence once and for all. A reminder that Iraq will hold elections in October 2025, and that if enough Iraqis reject pro-Tehran parties at the ballot box, as most did in 2021, there will be an opportunity for al-Sudani, or whoever may succeed him, to form a government that makes an extra effort to assert Iraqi sovereignty and finally Baghdad my free itself of Iranian dominance. 

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