There is not much new news this period but what we have is all fantastic and right inline what we would expect in this point in time.
So, I want to cover this fantastic news first and to do it we must remember what has been going on from the past moves of the Central Bank and the U.S. to finally break the parallel market.
Them I want to move on to the good news for today so we can connect the dots and see the significance of a very recent news and how it fits into the past.
😊You can get a sense of the actions the CBI has taken to monitor and manage its currency since 2003 in the article titled “EVALUATION OF THE CENTRAL BANK’S JOURNEY IN 22 YEARS”.
Wow its been 22 years already since the 2003 invasion and overthrow of Saddam Hussein and the implementation of the cursed currency auctions and the dependency of the U.S. dollar by dollarization of imports to Iraq.
But as you read the article you can clearly see all the measures the CBI has take and the long road battle to get their currency back.
I mean of course the dinar and break from the dollar. We have witnessed tremendous success and movement in this direction just in the last couple years.
The latest moves to de-dollarize came with the use of correspondent banks, the US cutting of paper cash US dollars and forcing electronic banking. Then just recently the CBI cut off getting cash US dollars from outside Iraq using the debit cards.
Member: What is group #3? Never heard that term before?
MZ: I have identified the top 6-8 bond groups . It is my understanding they are ready to move on the third group of large bond holders already aggregated.
Member: Hey Mark, how long will it take after the bond holders get paid for us tier 4a/b to go?
MZ: I think we may be going at almost the same time. I think they are holding them until they are ready for us.
Member: Are your redemption folks working this weekend ?
MZ: My Wealth management/redemption folks will be working this weekend. They do not know if they will be doing redemptions or not …but they will be working and they are prepared.
a statementprime ministerMohammed Shia Al-Sudani, on Thursday, spoke about the size of foreign investments in Iraq, while pointing to the imminent distribution of residential plots of land to the wounded security forces.
He saidofficeSudaneseIn a statement, “The Commander-in-Chief of the Armed Forces hosted the President of the Republic,cabinetMohammed Shia Al-Sudani, this evening, Thursday, a group ofWoundedSecurity forces, at the Iftar table of the holy month of Ramadan.He stressed
Sudanese“The government has placed at the top of its priorities serving the families of the martyrs and the wounded heroes,” stressing that “it is an issue that cannot be compromised or delayed.”He pointed out that “the page of terrorism was not a passing and easy phase, and targeted the social fabric of the people.”
IraqiWith all its components and spectrums,” noting that “the terrorist groups wanted to go
IraqTo the unknown according to a premeditated and paid plot, and a page
ISIS” It is over and it is the last of the series of terrorism that began after 2003,”he continued. “We have directed the ministries and the leaders of the security services to develop a special program to care for the wounded and to meet their demands,” adding, “We are in the process of completing the rights related to the wounded heroes, whether they are salaries or accumulated dues after our last visit to the National Retirement Authority.”He added, “Soon, residential plots of land will be distributed to the wounded security forces in serviced areas in Baghdad and the governorates within 3 months after we recently launched the executive work there.”And in another matter, he said:
Sudanese“The government is working to provide services, construction, reconstruction and development, and without your sacrifices we would not have been able to accomplish a single project,” he stressed, saying, “Today we are attracting major international companies and investors, and we are working to diversify our economy in order to advance the country.”He pointed out that “foreign investments in
IraqIt exceeded 88 billion and entered to complete projects in the country,” explaining that “foreign companies entered
IraqAfter being certain of its security, the stability of its institutions, and the provision of investment opportunities in it.
Right now with the dinar, do I still think it's coming down the road?
Yes, as far as I know right now. But there is too much going on with Syria and that whole thing.
We don't know where it's going to go or is the United States going to attack ISIS again? ...Iran is being threatened by Israel and the United States.
So there's a lot going on. There's no information to simply say one side or the other. Having said that, has Iraq's financial goals changed? No. Has what they said they want to do with the Iraqi dinar changed? No, it has not. It's just how are they going to participate to be part of the global markets the best way they can.
APIKUR companies, which represent 60% of oil production companies in the Kurdistan Region, revealed on Thursday, March 6, 2025, details of a meeting with representatives of the federal government and the Kurdistan Regional Government, regarding the resumption of the export of Kurdistan Region oil through the Turkish port of Ceyhan, and its proposed conditions in this regard.
A statement by APIKUR , a copy of which was received by Al-Jabal, stated that “representatives of the Kurdistan Oil Industry Association attended a meeting with officials from the federal government and the Kurdistan Regional Government, to discuss the restoration of oil exports through the Iraq-Turkey pipeline on March 6.”
“ APIKUR member companies conveyed their required conditions for resuming oil exports during the meeting, as additional meetings are needed to complete the agreements. The companies confirmed that they are ready to resume exports immediately via the Iraq-Turkey pipeline, once the conditions that have been repeatedly communicated since November 2023 are met, which stipulate that oil producers in the Kurdistan Region be treated in the same way as oil producers in federal Iraq,” the statement added.
The companies continued in their statement, “There is a need for fair and transparent agreements that include payment guarantees, transparent implementation of the provisions of the Iraqi budget law, and resolving the issue of late payments. Below are the companies’ conditions for resuming exports:
First: Guaranteeing payment for past and future oil exports
Companies need formal sales/lift agreements with buyers of any exported oil, setting out the terms and conditions and providing assurances that companies will receive full payment for the oil – even if it is in two installments. Agreements should also be in place that see companies paid for oil delivered but not paid for between October 2022 and March 2023. These payments should be made directly and transparently to companies, without intermediaries or undue delays.
Second: Maintaining the commercial and economic terms of production sharing contracts.
The existing company contracts are legally valid and their terms should prevail, the economic model within the production sharing contracts should be respected, the scope of work of the independent technical advisor, required under the revised budget law, should be agreed upon by all parties and limited to confirming the preparation of oil sales invoices to the companies according to the production sharing contracts, and there should be a formal, agreed-upon provision for resolving disputes within the confirmation process. APIKUR member companies have recommended consultants from independent international companies recognized by the KRG officials.”
“ APIKUR member companies stand ready to meet with all stakeholders and finalize the necessary agreements to resume oil exports,” said Miles B. Caggins III, a spokesman for APIKUR , according to the statement . “We appreciate the emphasis placed by the Sudanese Prime Minister’s government and the U.S. government to keep all parties focused on quickly restoring oil exports through the Iraq-Turkey pipeline to strengthen Iraq’s economy.”