CENTRAL BANK: 20 IRAQI BANKS PRACTICE DIRECT TRANSFER OPERATIONS IN 8 FOREIGN CURRENCIES, 6 MARCH

 CENTRAL BANK: 20 IRAQI BANKS PRACTICE DIRECT TRANSFER OPERATIONS IN 8 FOREIGN CURRENCIES

The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, that there are 20 Iraqi banks practicing direct transfer operations in 8 foreign currencies.

Al-Alaq said, according to the official agency, that “the recent quarterly meetings with the US Federal Reserve and the Treasury Department, which were held in Dubai, were very positive, as the steps taken by the Central Bank to improve the foreign transfer system and convert operations to international practices in a safe, transparent and highly organized manner were praised.”

Al-Alaq pointed out that “this transformation is the first of its kind in Iraq, which witnessed transitional stages from (the window) to (the platform) and then to correspondent banks.”

He continued, “Today, there are 20 Iraqi banks practicing direct transfer operations with international correspondents in eight foreign currencies, within the new system.”

Al-Alaq explained that “the other banks that are still outside this framework are now working to qualify them according to specific standards, in cooperation with an international consulting company, to apply the necessary standards that qualify them to join foreign transfer operations.”

He stressed that “there are no new sanctions or changes, but on the contrary,  there is praise and appreciation from international bodies, especially with regard to the mechanism of selling cash dollars.

” Al-Alaq stressed the “need to focus on these successes to show a positive image of the transformations in the Iraqi banking sector, which will be positively reflected in the dealings of international financial institutions with Iraqi banks.”

TIDBIT FROM MILITIAMAN, 6 MARCH

 Militia Man  

They're still focused in on that digitization of Iraq and digital currencies.  The effects of that are going to be profound...The use of currency is not going to be the way it was in the past in Iraq. 

 They are going to a cash less society.  Not completely no cash but they're going that way.  The amount of small denominations that they've talked about will be limited. 

 It won't be as profound as it has been in the past that's for sure.

JEFF: Rate is changing in March folks! @DINARREVALUATION #iraqidinarinvestor #iraqidinar

 

MAZHAR SALEH: GEOPOLITICAL CONTROLS PUSH TOWARDS SHIFTING TO OFFICIAL CHANNELS FOR CURRENCY TRADING, 6 MARCH

 MAZHAR SALEH: GEOPOLITICAL CONTROLS PUSH TOWARDS SHIFTING TO OFFICIAL CHANNELS FOR CURRENCY TRADING

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.

EXCERPTS FROM MARKZ : " I think it will be an RI. Around $3.23 or so at the bare minimum" , 6 MARCH

 EXCERPTS FROM MARKZ

Member: Will Iraq have an RV or an RI ? (Revalue or reinstatement) 

MZ: I think it will be an RI. Around $3.23 or so at the bare minimum…..  More if they take into account-inflation. 

MZ: On the bond side we continue to hear of great successes and I continue to be told that by the 17th or 18th of March all bonds would be paid. I was always told only a portion needed to be paid before we get to go. 

MZ: I think how we get further into this it will be harder to hide what is going on. How its moving…what is moving…. and who has money. I think things will get pretty exciting over the upcoming week. 

Member: Jentel says 80% of bonds are done

MZ: I don’t think they are done yet…but they are all positioned and when they release those funds….boom…she is right and 80% will be finished immediately. 

Member: Mike Bara said he know of bond people that got paid and asked to make a currency exchange and the appointment is today

MZ: I do some have been asked to make currency appointments but do not know anyone who has an appointment before the 7th. I am trying to get an update to see if they actually still have that appointment …but I havnt heard anybody say they have appointments today. 

MIKE BARA: ALL FOCUSING ON TOMORROW OR TUESDAY! @DINARREVALUATION #iraqidinarinvestor

 

IRAQI OPPOSITION LOBBIES IN AMERICA: JOE WILSON AND THE MEGA CAMPAIGN AS AN EXAMPLE – URGENT, 6 MARCH

 IRAQI OPPOSITION LOBBIES IN AMERICA: JOE WILSON AND THE MEGA CAMPAIGN AS AN EXAMPLE – URGENT

In recent years, Iraqi lobby groups have become active in the United States, seeking to influence American decision-makers regarding policies towards Iraq. These lobbies are divided between supporters of the current Iraqi government and opponents who seek to change the political system in Baghdad. Among the American figures who adopt this approach, Senator Joe Wilson stands out, who recently launched a political campaign called “MEGA”, targeting what he called “liberating Iraq from Iran”, which sparked widespread controversy in American and Iraqi circles.

Joe Wilson and the Mega Campaign

US Senator Joe Wilson, known for his controversial positions, announced the launch of a campaign called “MEGA”, in direct imitation of former US President Donald Trump’s “MAGA” (Make America Great Again) campaign. Wilson’s campaign, according to what he posted on his account on the X platform, aims to “support the Iraqi people to make Iraq great again”, in reference to the October 2019 protests, which he described as “a non-sectarian movement abandoned by US President Joe Biden.”

The statements come as part of a series of recent posts by Wilson, which, according to Fox News, included “direct threats” calling for action inside Iraq to bring about political change.

Controversy and American Reactions

Wilson’s statements and his new campaign faced sharp reactions from American commentators on social media platforms, with some criticizing him, saying that “American politicians should focus on their internal issues instead of interfering in Iraq’s affairs.”

The campaign also angered some American political circles, as some considered it an “irresponsible attempt to reignite chaos” in a country suffering from major political and security complications.

Iraqi Lobbies in Washington and Their Influence

Wilson’s campaign is part of a broader landscape of Iraqi lobby groups active in Washington, working to influence US policy toward Baghdad. These groups can be divided into:

1. Groups loyal to the Iraqi government: working to strengthen relations between Baghdad and Washington, and defending the Iraqi government in the face of American pressure.

2. Opposition lobbies: consisting of former Iraqi politicians, activists, and some American figures who see the need to change the Iraqi political system, and demand stricter American measures towards Baghdad, such as imposing sanctions or supporting protest movements.

3. Kurdish lobbies: seeking to maintain Washington’s support for the Kurdistan Region, especially with regard to the oil file and relations with Türkiye and Iran.

Iraq is strongly present in American politics

Joe Wilson’s “MEGA” campaign reflects a growing trend among some American politicians toward intervening in Iraqi affairs, whether by supporting protests or demanding broad political changes. Despite the criticism he has faced, these moves reflect the continued influence of Iraqi lobbies in Washington, whether from the Iraqi government or its opponents, making Iraq a strongly present issue in American politics, despite the passage of more than two decades since the American invasion.