Tuesday, March 4, 2025
Mazhar Saleh: Geopolitical controls push towards shifting to official channels for currency trading , 4 MARCH
Mazhar Saleh: Geopolitical controls push towards shifting to official channels for currency trading
3/3/2025
Mazhar Muhammad Salih, the financial advisor to the Prime Minister, confirmed that the geopolitical controls imposed on informal trade contribute to expanding dealings with official outlets for foreign currency, which contributes to financing foreign trade through the sound international financial system.
He pointed out in his statement to {Euphrates News} that "this shift aims to move away from informal financing from the parallel dollar market intensively, especially with the change in the behavior of small traders in avoiding the parallel market linked to the countries' regional and geopolitical problems."
Saleh added that "this shift comes in the context of the importance of increasing Iraq's foreign reserves and confronting money smuggling operations, in addition to facilitating external transfer operations through Iraqi banks that deal with international banking correspondents, at an official exchange rate of 1,320 dinars per dollar."
He also stressed that the end of the compliance platform phase adopted by the Central Bank of Iraq in the past two years and the country's entry into a new phase has contributed to providing great flexibility in financial transfers through official channels. LINK
CRYPTO TRADER UPDATE, 4 MARCH
CRYPTO TRADER
#IQD
The repercussions of printing 10 trillion Iraqi dinars: between addressing the deficit and economic risks?!
They have severe dinar liquidity issues. Iraqi citizens hoarding cash to the tune of 15 trillion is causing a liquidity squeeze . Iraq is between a rock and a hard place.sonerhungs gotta give.
Counterfeit currency and 'unmarked' gold dealers busted in Iraq , 4 MARCH
Counterfeit currency and 'unmarked' gold dealers busted in Iraq
3/3/2025
The National Security Service announced, on Monday, the arrest of promoters of counterfeit currencies and traders of "unmarked" gold in Baghdad and the provinces of Dhi Qar and Diwaniyah.
The agency said in a press statement received by Shafaq News Agency, "Two suspects were arrested in Baghdad in the Al-Baladiyat area, who were promoting counterfeit local and foreign currencies. 3,400 counterfeit US dollars in 100-dollar bills were seized in their possession, in addition to various amounts of counterfeit Iraqi dinars."
He continued, " In Dhi Qar, an illegal commercial complex was raided for selling unmarked gold. It was found that its owner was offering usurious loans to citizens in exchange for seizing Key Cards and Master Cards. 122 cards, a gold piece, four seals, records of the dealers, electronic devices, and an amount of 12 million and 750 thousand dinars were seized."
He pointed out that "in Diwaniyah, the apparatus' detachments were able to overthrow a gang specializing in promoting counterfeit currency, where an ambush was set up for one of the gang members and two suspects (a man and a woman) were arrested red-handed while exchanging counterfeit money, and an amount of 215 thousand counterfeit US dollars was seized in their possession, in addition to the vehicle they were riding in." LINK
TIDBIT FROM FRANK26, 4 MARCH
Frank26
Do you think the Central Bank...US Treasury... Federal Reserve...want a new exchange rate for the Iraqi dinar?
...Yes, everybody wants it...Turns out the US Treasury, Federal Reserve, CBI met in Dubai...
Is this an annual even?
No. It must be important. ..We have security and stability...is what came out of this meeting.
IMO at this point in the monetary reform they are so close to giving the citizens the new exchange rate which means we are so close to giving the new exchange rate to the enemy, to parliament and that's why Sudani wants all of the systems up and running and that's why the Secretary of State came and made sure that's being done so we can detect every stealing that would occur..
.All of these moves from Sudani are because he's being guided by the United States Treasury and Donald Trump to make sure this time we hit the mark.
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