DINAR REVALUATION

Saturday, March 1, 2025

MZ: When the bond holders get their money …we are very close!! @DINARREV...

Central Bank of Iraq signs agreement with Emirates Islamic Bank, 1 MARCH

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

TIDBIT FROM FRANK26, 29 FEB

Frank26

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

Notice that you didn't say Iraqi banks no no no. Is he going to put sanctions on Iraqi government?

No. No. No.

Is he going to put sanctions on the CBI ?

No. No. no.

Who's he putting sanctions on? Iraqi groups, Framework...Maliki's militia...Iranian politicians in parliament...

AJ : 🔥This EXPLAINS why BUDGET TABLES DELAYS!! @DINARREVALUATION #iraqid...

Oil Price: Washington pressured Baghdad on Kurdistan oil to limit Iran’s exports, 1 MARCH

Oil Price: Washington pressured Baghdad on Kurdistan oil to limit Iran’s exports

The American energy-based oil press website published on Friday a report on the resumption of oil pumping from the Kurdistan Region, stressing that Washington pressured Baghdad for this, to reduce Iranian oil exports.

According to the report translated by Shafaq News, “despite the Iraqi federal government’s assurances that the resumption of oil exports from Kurdistan is imminent, foreign oil companies operating in the region said they will not resume oil exports today.”

The report noted that “oil exports from Kurdistan have now been suspended for nearly two years, after being stopped since March 2023 due to the dispute over who should allow Kurdish exports.”

He explained that “the companies that are members of APIKUR for the export of oil from the region are ready to resume exports immediately once formal agreements are reached to provide guarantee of payment for previous and future exports in accordance with the current legal and contractual terms.”

The report said that “foreign oil producers in Kurdistan want agreements and firm guarantees before resuming exports, while Baghdad is under pressure from the United States to allow the supply of Kurdish supplies to the market, as the Trump administration is looking to impose a significant reduction in Iranian oil exports as part of the “maximum pressure” campaign.

Eight international oil companies operating in the Kurdistan Region announced on Friday that they would not resume oil exports through the Turkish port of Ceyhan despite Baghdad’s announcement of the imminent export resumption.

The Kurdistan Petroleum Industry Association (Abecor), which represents 60% of the region’s production, said that “no official contacts have been made to clarify trade agreements and guarantees of payment for past and future exports.”

Earlier on Friday, Deputy Prime Minister for Energy Affairs and Minister of Oil, Eng. Hayyan Abdul Ghani, announced the start resumption of Kurdistan Region oil exports through the Turkish port of Ceyhan in the coming hours, in a statement he made on the sidelines of his visit to the port of Khor Al-Zubair to see the operations of connecting the gas pipe, and quoted by the Ministry of Oil in a statement.

https://www.shafaq.com/ar/سیاسة/ويل-برايس-واشنطن-ضغطت-على-بغداد-بش-ن-نفط-كوردستان-لتحجيم-صادرات-يران

Chapter Summary: The Current Landscape of Iraq’s Monetary Reform and Economic Developments, 1 MARCH

Chapter Summary: The Current Landscape of Iraq’s Monetary Reform and Economic Developments

Introduction

The ongoing discussions surrounding Iraq’s economic transformation and the monetary reform led by the Central Bank of Iraq (CBI) are of paramount importance to both local and international stakeholders.

This chapter encapsulates the insights gleaned from recent updates shared by prominent figures and sources within the Iraqi financial system. Key concepts such as exchange rates, oil exports, and US sanctions are critical to understanding the broader implications of these developments.

The focus of this discourse is on the evolving banking landscape, particularly regarding Iraq’s international status, currency valuation, and the intricate relationship with the US Treasury.

Key Update: Significant Meetings and Developments

The Iraqi Bank friend, Aki, reported that a significant meeting involving the CBI, private banks, and financial institutions will take place over two days (Thursday and Friday). This meeting aims to discuss:
- Monetary reform strategies
- The exchange rate of the Iraqi currency
- The international status of Iraq
The meeting represents a collaborative effort to enhance Iraq’s financial ecosystem and reinforce its banking practices.

Oil Export Progress and Exchange Rate Speculation

According to Firefly Television, Iraq’s Oil Minister announced that oil exports to various regions would commence earlier than anticipated, with initial flows expected next week.
Despite speculation about the exchange rate potentially floating at 1310, there is skepticism regarding this figure. Key points include:
- Frank 26 expresses doubt that the exchange rate will reveal itself at 1310, despite confidence that a new rate will be established soon.
- Mark Z, through PDK, suggests that timing on these developments could be just days away, hinting at an impending shift in Iraq’s economic status.

Historical Context: Recognition of Banking Performance

Militia Man highlights a noteworthy moment in Iraq’s banking history, recalling that City Bank awarded the National Bank of Iraq for its exemplary performance in managing financial transfers.
This recognition underscores the importance of quality and transparency in banking services, which are essential for attracting foreign investment and enhancing economic stability.

Sanctions and Economic Pressures

A significant development involves the potential imposition of sanctions by the Trump Administration aimed at Iraqi groups, especially those with ties to Iran. Critical insights include:
- An article from Fox News indicates that the sanctions may target economic and trade relations, particularly affecting banking operations in Iraq.
- An informed political source mentioned that a list of political figures linked to armed factions could soon be released, reflecting the US’s intent to exert pressure on Baghdad.
These sanctions could have profound implications for Iraq’s financial reserves and overall economic stability.

Security and Stability in Banking

Frank 26 expresses optimism about the current state of the Iraqi banking structure, citing a sense of security and stability. This sentiment parallels the expectations set forth by Dr. Shabibi, the architect of Iraq’s monetary reform, who emphasized these qualities as prerequisites for a successful exchange rate adjustment.
The assurance of a secure banking environment is pivotal for fostering trust among investors and facilitating smoother operations within the financial sector.

Conclusion

In summary, the current trajectory of Iraq’s monetary reform and economic development is marked by significant meetings, burgeoning oil exports, and looming sanctions. The interplay of these factors shapes the landscape of Iraq’s banking sector, with potential shifts in the exchange rate on the horizon.

The recognition of the National Bank of Iraq serves as a reminder of the importance of maintaining high standards in financial practices. As Iraq navigates these challenges, the emphasis on security and stability will be crucial in determining the success of its economic ambitions.

The implications of these developments are profound, not only for Iraq’s internal economy but also for its international relationships and standing in the global market.