Sunday, March 23, 2025

SAMSON : HEADLINES NEWS: The central Bank of Iraq is preparing to launch the digital dinar!!

FRANK26: "DIGITAL CURRENCY IS SECURITY & STABILITY FOR THE NEW EXCHANGE RATE", 23 MARCH

KTFA

FRANK26: "DIGITAL CURRENCY IS SECURITY & STABILITY FOR THE NEW EXCHANGE RATE".....F26

Al-Alaq: We are working to establish a data center that represents a successful foundation for digital transformation.

3/20/2025

Baghdad

Central Bank Governor Ali Al-Alaq confirmed on Thursday that the digital currency the bank intends to launch will enhance transparency and limit the flow of cash out of banks. He also revealed plans to establish a data center that will serve as a successful platform for digital transformation.

Al-Alaq said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News," that "financial technologies are developing rapidly, in line with the requirements of the financial and banking sector in terms of speed, accuracy, and economic efficiency, in addition to transparency and oversight. The reality of the digital revolution is imposing itself on all sectors, including the financial and banking sector, which is the most beneficiary of the major transformations taking place."

He added, "Digital currency can serve many purposes, limit the leakage of cash outside banks, and achieve a high degree of transparency, as funds can be tracked, whether in the areas of consumption, investment, savings, or even in legitimate and illegitimate businesses. It also provides important databases for analytical purposes, not just for the movement of paper money, in addition to the economic benefits digital currency offers from printing and tracking currency."

Al-Alaq confirmed that "we have begun taking steps in coordination with international organizations to review initial experiments in the digital currency file, which we do not wish to delay." He explained that "there are existing experiments in some countries in the region, and we are also following up with the Arab Monetary Fund to develop appropriate steps in this direction, and what is required is infrastructure.

" He continued, "The Central Bank has advanced infrastructure, as the new bank building contains a sophisticated data center, and we are also working to establish a data center that will represent a successful foundation for digital transformation."

LINK

MILITIAMAN: Iraq Dinar News-Salaries mid Next Week-Non Oil Revenues-Digital Currency-Central Bank of Iraq, 23 MARCH

MILITIAMAN: Iraq Dinar News-Salaries mid Next Week-Non Oil Revenues-Digital Currency-Central Bank of Iraq

Highlights

Summary

The video discusses recent developments in Iraq’s financial management and digital transformation initiatives, focusing primarily on the Kurdistan region’s salary distribution, electronic tax collection, and the emergence of a digital currency.

The speaker highlights the Kurdistan government’s commitment to smooth payroll processing for March, indicating a procedural focus on reducing discrepancies in salary lists. Furthermore, Iraq is shifting towards enhanced electronic tax systems intended to boost non-oil revenue, indicating a significant change in fiscal management styles.

Emphasizing the importance of digital systems, the video points out that electronic tax collection is anticipated to surpass non-oil revenues, suggesting a redraw of economic policies to reduce dependency on oil. It elaborates on Iraq’s central bank launching a digital currency that aligns with global financial trends. The governor attributes advancements in financial technology to improved efficiency, economic stability, and financial transparency. The central bank is expected to play a crucial role in the transition to a digital currency, promising to address issues regarding cash leakage and mundane operations previously reliant on physical cash. Overall, the speaker projects optimism about Iraq’s financial future, citing potential changes in credit ratings associated with increased non-oil revenue and effective debt management practices.

📅 Upcoming employee salary distributions in Kurdistan planned for mid-next week.
💻 Electronic tax collection is projected to surpass non-oil revenues in the current fiscal year.
🌍 Iraq’s digital currency initiative aligns with global trends, reduce reliance on the US dollar.
📈 Enhanced debt management discussed at a Geneva Advisory Group meeting to strengthen financial transparency.
🏦 The Central Bank is establishing a data center to support digital currency operations.
🔍 Digital currency capable of improving control over financial transactions and reducing illegal activities.
🚀 Optimism surrounding the financial reforms and digital transformation underway in Iraq.

Key Insights

📆 Kurdistan’s Payroll Distribution: The government confirmed that employee salaries for March in the Kurdistan region will be disbursed by mid-next week. This highlights the government’s ongoing operational focus, especially during holiday seasons, and underscores the diligence required to ensure accurate payroll processing. Despite previous discrepancies, the emphasis on completing payroll audits reflects a commitment to financial management and employee welfare.
📊 Revolution in Revenue Collection: There’s a strong move toward electronic tax systems in Iraq, which are expected to realize revenue growth exceeding that of traditional non-oil streams. The government’s acceleration of non-oil revenues through such digital measures indicates a significant policy shift aimed at economic diversification and reducing vulnerability to oil price fluctuations. Embracing e-governance in public finance marks a strategic direction towards future sustainability.
🌐 Transition to Digital Currency: The Central Bank’s plan for a digital currency is indicative of a broader global movement where countries are exploring digital financial systems to replace physical currencies. This initiative not only facilitates electronic payments but also seeks to empower Iraq’s monetary authority by diminishing dependence on the US dollar. The digital dinar is set to function similarly to traditional currency while enhancing transactional efficiency and security.
🔗 Financial Infrastructure Development: The establishment of a data center for the central bank underscores the need for robust technological infrastructure in facilitating digital financial systems. This infrastructure will serve as the backbone for transitioning to digital currency, thus improving financial service delivery and user experience. Such advancements are anticipated to bolster economic stability and instill confidence in the banking system.
💡 Risk Management and Transparency: Enhanced debt management practices discussed at international forums are pivotal for Iraq’s financial health. By adopting new technologies and frameworks for debt assessment, the government can better manage risks associated with public debt and improve overall transparency in financial operations. This focus is crucial for creating an environment conducive to international cooperation and investment.
📈 Impact on Credit Ratings: The shift towards maximizing non-oil revenues could improve Iraq’s creditworthiness, reflecting a move away from being classed as a rentier state. By diversifying revenue streams and adopting electronic tax collections, Iraq is setting a foundation for long-term financial health. Increased credit ratings could attract foreign investment, thereby further enhancing economic resilience.
🌱 Future Economic Dynamics: The digitization of Iraq’s economy signifies not only a transformation in payment systems but also the potential for broader societal impacts, including enhanced financial inclusion. By moving away from cash-based operations, the country could provide a more secure and efficient means of transaction that supports business development and personal finance management.

The video concludes with the speaker expressing optimism about Iraq’s financial trajectory, highlighting the importance of digital transformation in shaping the economic landscape. This transition is not just about adopting new technologies; it also reflects a broader intent to modernize governance and financial management structures within the country. The anticipated changes are indicative of a significant evolution in Iraq’s economic framework, aligning it more closely with global financial norms.

The ongoing development efforts communicated in the video suggest that stakeholders, both domestic and international, need to remain vigilant and supportive as these changes unfold, promising a more stable and prosperous economic future for Iraq.

FRANK26: TRUMP & SUDANI PREPARE THE TABLE FOR A NEW EXCHANGE RATE FOR IRAQ! @DINARREVALUATION

The Parliamentary Defense Committee confirms that the first reading of the Popular Mobilization Law will proceed next Monday, 23 MARCH

The Parliamentary Defense Committee confirms that the first reading of the Popular Mobilization Law will proceed next Monday

“The agenda for Monday’s consultation changed into announced late closing night time, consisting of the primary reading of the famous Mobilization Forces regulation,” committee member MP Yasser Iskandar Witout . “I assume that quorum could be achieved and the primary studying will be finished, which will open the door to proceeding with the crowning glory of this regulation according to legal techniques, together with the relaxation of the legal guidelines on the schedule.”

He introduced, “After the primary analyzing, there will be a second reading, followed by way of a vote. this indicates the problem will proceed in keeping with its felony context throughout the following segment.” He explained that “Monday’s consultation is predicted to be held because of the significance of the proposed legal guidelines, and that attendance will be high to finish the vote at the amendments and examine the legal guidelines protected at the time table.”

it’s really worth noting that the popular Mobilization Forces law is one of the maximum crucial legal guidelines waiting for approval inside the residence of Representatives, because it includes points that assure the rights of this segment of society, which has made fantastic sacrifices in combating terrorism and releasing towns.

Spenhollow: It will go through a review of sorts. Mainly watching, checking for stability and support etc, 23 MARCH

Time is getting small

A few items to include in your thinking.

- IQD -

This is clearly in the on Deck circle.

So… here we go.

This is the even if portion…

- The dinar is not listed on forex (ya I know you know this) and because of this, it will go through a process to get there.

- It will start with the CBI and in pseudo partnership with the IMF . And with/via the Gazette notification. It will announce that the rate is changing, and their intention is to be an international currency.

- The ‘package’ will be submitted to the forex system.

- This will not be immediate as some believe it would be. It will go through a review of sorts. Mainly watching, checking for stability and support etc.

- In the meantime, the CBI/IMF will be proving up trading pairs with other currencies.

- These pairs will start trading on a back channel or non public. These trades will help prove to Forex that fluctuations are managed and stable.

- Then Forex will list on the boards. Ya I know for you Square Heads more happens, just relax.

This whole process can take

1-3 days

So if this candle gets lit on a Sunday … well Forex won’t act on anything until Monday at earliest. Why ? Because Forex is a US based organization and it follows US holidays and weekends. And probably Betty doesn’t work till Monday. Lol.

So, could be fast 1 day or slow 3 days . I am betting there is a pretty big push so I am edging to 2 day lite.

So make your guesses and have fun. Note my earlier post and others comments are great information to think about.

Don’t forget about XRP and how this fits in!

Just A Thought …

Source: Spenhollow

DINAR REVALUATION