SUDANESE ADVISOR: DIGITAL CURRENCY IS A QUALITATIVE LEAP THAT IMPROVES OVERSIGHT AND SUPPORTS COMBATING MONEY LAUNDERINGM 6 MARCH

 SUDANESE ADVISOR: DIGITAL CURRENCY IS A QUALITATIVE LEAP THAT IMPROVES OVERSIGHT AND SUPPORTS COMBATING MONEY LAUNDERING

The financial advisor to the Prime Minister, Mazhar Mohammed Salih, praised, on Saturday, the Central Bank of Iraq’s move towards issuing a digital currency, considering it a qualitative leap that enhances transparency and control over financial flows, improves oversight of capital and foreign transfers, and supports efforts to combat money laundering. 

Saleh said in a statement reported by the official news agency, and seen by “Al-Eqtisad News”, that “the Central Bank is moving towards issuing a digital currency as a gradual alternative to paper currency,” indicating that “this trend represents a qualitative leap in the national digital payments system.” 

He added, “This step will achieve many benefits, including reducing cash leakage, lowering printing costs, and limiting the circulation of paper currency outside the banking system, in addition to reducing the need to print money repeatedly, which reduces the costs associated with its production and distribution, in addition to enhancing transparency and control over financial flows and the ability to track digital liquidity and spending trends, whether consumption, savings or investment, in addition to improving control over capital and foreign transfers, and supporting efforts to combat money laundering.” 

He pointed out that “digital currencies contribute to achieving financial inclusion, especially for groups less integrated into the banking system, which contributes to enhancing economic and social integration.” 

He stressed that “the transition to digital currency requires a strong technical infrastructure that includes reliable and advanced internet networks and advanced cybersecurity systems to protect data and transactions, in addition to promoting a culture of societal acceptance of digital currencies, starting with government agencies, through their use in collection operations and official transactions.” 

He explained that “digital cash will maintain its traditional functions as a unit of account, payments and savings, with the possibility of using it online and on smartphones, which will contribute to developing a more stable and efficient financial environment."

BRUCE HIGHLIGHTS, 6 MARCH

Tues. 4 March 2025 Bruce

• 
  Everyone will get the 800 numbers at the same time through emails.
  
  Bond Holder accounts have been funded. They should receive emails telling them they have access to their accounts at the same time Tier4b (us, the Internet Group) gets notified.
  
  The Dinar rate is much higher at the Redemption Center because Tier4b gets the contract rate.
  
  Nesara and Gesara won’t start to occur until this coming weekend.
  
  Bond Holders will get notification tomorrow  ;Wed. 5 March.
  
  Tier4b notification should come out sometime Wed. 5 March.
  
  R&R deposits should be in your account this month.
  
  The DOGE checks should come out in the first ten days of March.
  
  Social Security increases should happen this month of March.

MAJEED: The relationship between the Iranian Toman and the Iraqi Dinar is inverse!! #iraqidinar

 

, FINANCIAL ADVISOR: CENTRAL BANK DIGITAL CURRENCY WILL BOOST TRANSPARENCY, IMPROVE NATIONAL PAYMENTS 6 MARCH

 FINANCIAL ADVISOR: CENTRAL BANK DIGITAL CURRENCY WILL BOOST TRANSPARENCY, IMPROVE NATIONAL PAYMENTS

The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, explained today, Saturday, that issuing a digital currency for the Central Bank will be an important step towards enhancing transparency and achieving a qualitative leap in the national payments system. 

Saleh said in a statement to the official agency, followed by NRT Arabic, that “the Central Bank plans to issue a digital currency as a gradual alternative to paper currency,” noting that this step will contribute to reducing cash leakage and lowering the costs of printing paper currency, in addition to reducing the circulation of money outside the banking system.

He added that the digital currency will allow tracking financial flows, improve control over capital and foreign transfers, support anti-money laundering efforts, and contribute to enhancing financial inclusion, especially for groups less integrated into the banking system.

Saleh explained that Iraq’s transition to digital currency requires a strong technical infrastructure, including advanced internet networks and advanced cybersecurity systems to protect data and transactions.

Digital currencies will also support efforts to enhance economic and social integration through government use in collection operations and official transactions.

MIKE BARA: ALL FOCUSING ON TOMORROW OR TUESDAY, MARCH 6

 Mike Bara

 I am hearing the exact things as Wolverine. you are.  I have a few contacts and they are all focusing on tomorrow and Tuesday in the USA. 

There is pressure to do this overnight.  Also have heard from people who know bond contacts that they were paid out last week, and that they have currency exchange appts starting tomorrow.

 That is the first time I ever heard about currency exchanges. Don’t be disappointed if not first thing tomorrow, but all is pushing toward that.

 All Wolverine’s sources are different than mine, and it appears all is coming together. I heard those appts are scheduled at major banks for people who have already cashed in certain bonds, and they are scheduled for currency exchanges. 

REINALDO JC: Seems like rate change dependent to resume the OIL @DINARREVALUATION #iraqidinarinvestor

 

MEMBER OF THE PARLIAMENTARY FINANCE COMMITTEE REVEALS TWO PROPOSALS TO DEVELOP THE BANKING SECTOR WITH COMMENTS OF MNT GOAT, 6 MARCH

 MEMBER OF THE PARLIAMENTARY FINANCE COMMITTEE REVEALS TWO PROPOSALS TO DEVELOP THE BANKING SECTOR

Member of the Finance Committee in the House of Representatives, Hussein Mounes, revealed today, Monday, two proposals from the committee to develop the banking sector in Iraq.

Mounes told the Iraqi News Agency (INA): “The digitization of the banking system in Iraq is part of the government program voted on in the House of Representatives, so it is a necessity that must be adopted, and we see that there is a major transformation and it is an opportunity to ensure the principle of transparency, limit the amounts of money and reduce banknotes, and it is also a necessity that must be taken into account, given that there is a global trend in the issue of digitization and the adoption of bank transfer companies. ”

(Mnt Goat- but  does digitization include going as far as a total digital currency? I think he means just electronic transfers and payments.)

He pointed out that “the Finance Committee is following up on the process of financial digital transformation and is in contact with the Central Bank to develop plans to resolve this issue,” indicating that “we have no choice as a country trying to launch its banking system except to proceed quickly and expedite the resolution of matters.”

Mounes added that “the Finance Committee has two proposals: the first is to amend the law of private banks; to ensure their participation and raise the efficiency of local banks, and we have a proposal to adopt the Federal Revenue Control Authority, and these two legislations are very important for developing the banking system in Iraq.”