Thursday, March 6, 2025
The Minister of Oil announces the imminent activation of the export file through the Turkish port of Ceyhan, 6 MARCH
Economy News _ Baghdad
Oil Minister Hayyan Abdul Ghani Al-Swad announced on Thursday that the oil export file to the Turkish port of Ceyhan and the possibility of increasing exports from Basra oil is about to be activated.
A statement from the Ministry of Oil received by “Economy News” stated that “the Minister of Oil chaired a meeting to discuss the work of the Iraqi-Turkish Joint Committee in the presence of committee members from Iraqi ministries.”
He stressed “the importance of the files related to the work of the committee, in particular the water and oil files.”
He pointed out that “the need to activate the water file in a way that serves the interests of Iraq by achieving a fair share of water releases, pointing out that the oil export file is imminent to activated through the oil pipeline up to the Turkish port of Ceyhan and the possibility of increasing exports through this pipe of Basra oil.”
The statement pointed out that “the meeting discussed the topics contained in the agenda related to the subcommittees in the fields of water, energy and oil, education, border ports and communications, trade exchange, and the file of sports and youth.”
He stressed that “the meeting concluded the importance of completing the technical requirements of the committees, and activating the joint committees with the Turkish side in a way that serves the interests of the country.”
REINALDO JC: 💥RATE CHANGE FIRST THAN THE BUDGET TABLES/SCHEDULES REACH IRAQ PARLIAMENT , 6 MARCH
REINALDO JC
Ibtisam Al-Hilali, an MP from the Shiite Coordination Framework (CF), told Shafaq News Agency that "the Ministry of Finance will send the budget tables to the Cabinet next week for discussion and voting,” noting that the tables will reach the Parliament BEFORE THE END OF THIS MONTH. (mid-end March doesn’t matter to me).
in other words:
RATE CHANGE FIRST THAN THE BUDGET TABLES/SCHEDULES REACH IRAQ PARLIAMENT (imo).
--
REMEMBER: Iraq Internal Financial Budget Runs From {April-March}. MEANING: The 2025 Budget year begins April 1st & a NEW EXCHANGE RATE will need to happen in March for Iraq government to open up the 2025 dinar budget.
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.
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