🚨IRAQ🔥 : Rafidain deploys ATMs with 5 stations in Baghdad, 23 MARCH

IRAQ

Rafidain deploys ATMs with 5 stations in Baghdad Information/Baghdad ... Rafidain Bank announced on Friday the deployment of ATMs with 5 stations in Baghdad. The bank said in a statement, received by Al-Maalaa, that "as part of its continuous efforts to promote financial inclusion and facilitate the access of banking services to various segments of society, Rafidain Bank announced the deployment of ATMs in a number of terminals, allowing customers to make withdrawals and deposits easily, safely and around the clock, without any commission." He added that "this step comes within a strategy to expand the scope of digital banking services, which contributes to the integration of more individuals within the banking system, and enables them to benefit from modern financial solutions without the need to visit traditional branches." The Bank stressed its commitment to "developing its banking infrastructure, and deploying more ATMs in various regions, including malls and commercial centers, to ensure the provision of more efficient financial services, and achieve the Bank's vision of promoting financial inclusion and providing innovative banking solutions that meet the needs of all citizens." He added that “this service can now be used through devices available 24 hours a day at the following stations: • Station No. 13 - Al Baya • Station No. 14 - Al-Amriya / Popular Action Street • Station No. 18 - Al-Sidiyah • Station No. 19 - Al-Hussein District • Station No. 20 - Jihad District." The bank stressed: "It continues to develop its digital services, which enhances easy access to financial solutions, and supports the transition towards a more inclusive and innovative digital economy."

5:38 PM · Mar 21, 2025

Bank screens are showing the new rates going up in value: IQD: $5.23 VND: $3.89 on Wed #iqd #iraq

 

Iraq responds to Wye Oak petition in US Supreme Court, 23 MARCH

 By John Lee.

The Republic of Iraq has responded to a petition from American defense contractor Wye Oak Technology, which had has petitioned the U.S. Supreme Court to review its long-running legal dispute with Iraq.

The case stems from a ruling by the U.S. Court of Appeals for the District of Columbia Circuit in July 2024, overturning a previous decision that had granted Wye Oak more than $120 million in damages against the Republic of Iraq and the Iraqi Ministry of Defense.

Wye Oak's petition for a writ of certiorari, filed on 14th January, 2025, seeks to overturn the lower court's ruling.

The case involves the Foreign Sovereign Immunities Act (FSIA) , and concerns two legal issues regarding whether a foreign state can be sued in a U.S. court for an alleged breach of contract:

1. Iraq argues that Wye Oak's claim of a circuit split (disagreement among different courts) is incorrect, as no court rejects this approach;
2. Iraq also claims that Wye Oak's assertion of a circuit split is mistaken, as the Fourth Circuit's contrary decision was wrong and superseded by a Supreme Court ruling (Sachs, 2015).

Neal Kumar Katyal of Hogan Lovells US LLP represents Wye Oak Technology, while Boaz S. Morag of Cleary Gottlieb Steen & Hamilton LLP represents the Republic of Iraq.

The original ruling would have reimbursed Wye Oak for alleged unpaid invoices relating to work done for the Iraqi Ministry of Defense.

Dale Stoffel, the President of Wye Oak Technology, was killed in mysterious circumstances twenty years ago while attempting to recover the debt.

Iraqi dinar Historical changes., 23 MARCH

 #IQD

Iraqi dinar Historical changes. As requested.

IQD was at 3.22 USD before operation desert storm in 1990 unlike popular belief that it was at 3.22 before operation Iraqi freedom in 2003.

Post operation desert storm Iraq was under economic sanctions and IQD fell to 3000 IQD per USD.

The dinars that were used and printed before 1990 by de la rue were called swiss dinars. Post sanctions in 1990 Iraq could not place orders to print dinars with de la rue. This is when Saddam dinars were printed and issued in large quantities.

The value of Saddam dinar started plummeting while the swiss dinar appreciated against the Saddam dinar.

After operation Iraqi freedom in 2003 the provincial government got new IQD printed with De la rue and they were swapped with Saddam dinar as well as swiss dinar.

Saddam dinar was swapped on par with the new dinar while swiss dinar was swapped at 150 new dinar per swiss dinar. All facts easily verifiable by a simple google search.

MARKZ: THE WHITE PAPERS WILL ADD VALUE TO THE IRAQI DINAR #IQD #iraqidinarinvestor #iraq

 

Int'l Health and Safety Passport delivered in Iraq for first time, 23 MARCH

Int'l Health and Safety Passport delivered in Iraq for first time,

By John Lee.

The first Iraqi cohort to complete the Engineering Construction Industry Training Board's International Health and Safety Passport (IHSP) have been presented with their certificates.

The 15 learners completed the IHSP Foundation course as part of a five-month pilot construction training programme at Basra Technical Training Centre (BTTC), developed by Wood Al Majal  in North Rumaila.

IHSP aims to reduce site accidents and improve safety standards across multiple industry sectors in Iraq.

Wood Al Majal partnered with Southern Technical University to select students for the IHSP pilot programme.

(Source: ECITB)

TIDBIT FROM SANDY INGRAM, 23 MARCH

 Sandy Ingram 

  If digital dinars are restricted to residents, those holding physical IQD outside Iraq may need to cash out sooner rather than later. 

 However if Iraq opens access to digital accounts it could provide a modernized way for foreigners to hold and trade IQD but only through officially sanctioned channels.

  Iraq's central bank is gearing up to introduce a digital dinar, marking a significant shift towards digital currency management...

The digital dinar will function as an official electronic currency issued by the CBI, holding the same value as physical cash but traded exclusively through digital wallets and authorized platforms.  This move will distance Iraq from US control over the central bank of Iraq.