How will this...the digital dinar... impact the dinar paper we, as investors hold outside of Iraq?
Any country’s government or individual citizens owning the dinar paper outside of Iraq will NOT have to turn it into the banking system. There will be NO given window timeframe when it is best to do so.
There will be no urgency. The banks will still use the paper when needed since not all countries will be digitized...There is NOT going to be a HARD window and a definite time period. I wanted to make this very clear...
Baghdad Informs Washington: Iran Used Iraqi Documents To Sell Its Oil
Energy Economy News – Baghdad Following accusations against Iraq regarding SOMO's involvement in selling Iranian oil as Iraqi oil to help Tehran circumvent sanctions, Oil Minister Hayan Abdul Ghani revealed US-Iraqi talks on the matter.
Abdul Ghani said, "US naval forces seized Iranian tankers carrying oil and found documents indicating that it was Iraqi oil, even though it was Iranian."
Forged Documents
He added in statements to state television yesterday that "it later became clear that these documents were forged, as these Iranian tankers had forged them to sell oil to international companies as Iraqi oil."
He also confirmed that the Iraqi authorities "spoke with the American side to clarify the details of this case, and that Iraq has nothing to do with it." He explained that the American side understood the matter.
Oil Refinery In Iraq
These statements came after information emerged in recent months about SOMO's involvement in exporting and smuggling Iranian oil, amid threats of US sanctions against the company. SOMO had previously denied these accusations.
On the 19th of this month, the Iraqi Navy announced the seizure of an unidentified vessel in Iraqi territorial waters in the Gulf, suspected of smuggling fuel.
It's worth noting that since the US unilaterally withdrew from the 2015 nuclear agreement, Washington has tightened its sanctions on Tehran and reimposed stifling restrictions on certain sectors, particularly oil. https://economy-news.net/content.php?id=53726
America re-adopting the gold standard means every dollar is backed by tangible gold, not just government promises. Historically, the U.S. abandoned the gold standard in 1971 under Nixon, leading to decades of inflation $1 in 1971 is worth about $7.50 today.
Now, with gold backing the dollar, your money holds real value. Imagine walking into a store knowing the $100 in your pocket won’t lose purchasing power overnight. For families, this means savings grow, not shrink.
Businesses can plan long-term without fearing currency devaluation. Globally, the dollar regains trust nations like China and Russia, who’ve hoarded gold (China with 2,200 tons, Russia with 2,300 tons as of 2024), will trade with the U.S. on equal footing, stabilizing markets and reducing economic warfare.
Picture this people. Our dollar buys more, gas is cheap, and jobs are plentiful. A family of four in Ohio, earning $75,000 a year, now has an extra $5,000 annually from lower costs and tax breaks tied to Trump’s policies. You’re driving to work in a new American-made car tariffs incentivized Ford to build locally, dropping prices 10%.
Your kids’ school has new tech, funded by transparent blockchain taxes. You’re planning a vacation to Europe, paying with XRP at a fraction of the cost, while the dollar’s gold-backed strength makes everything cheaper abroad. Small businesses thrive Joe’s Diner in your town doubles its staff because people have more to spend.
The world follows America’s lead. Nations like Brazil and India, inspired by the U.S. gold standard, start backing their currencies with assets, stabilizing their economies. Oil-rich countries like Iraq and Venezuela, forced to compete with U.S. production, lower prices and invest in their people Iraq’s revalued dinar could lift millions out of poverty,
with citizens buying American goods in a booming trade loop. Blockchain adoption spreads: the EU launches a digital euro on Ripple’s tech by 2026, cutting remittance costs for 450 million people. Global wealth gaps narrow as c********n becomes harder to hide, and trade becomes fairer America’s Liberation Day sparks a global renaissance.
April 2nd, 2025, isn’t just a date it’s the start of a golden age. Americans live with financial security, energy abundance, and technological empowerment. Our dollar is king again, your job is secure, and your family thrives in a world where wealth flows to the people, not the elites. Globally, nations align with this new system, creating a web of prosperity that lifts billions. This is the real wealth Trump spoke of not just money, but a life of dignity, opportunity, and freedom, reclaimed from decades of mismanagement. The future is bright, bold, and ours to seize. Expect big things in the future.
FRANK26: "ERNST & YOUNG IS EXCITED ABOUT 1310... LOL!!!"......F26
The Iraqi government is listening to proposals to establish a new bank called "Rafidain First."
3/23/2025
The Iraqi government received financial and technical offers on Sunday to begin work on establishing a new bank called "Al-Rafidain First."
This came during a meeting chaired by Al-Sudani to follow up on reform measures at the Rafidain and Rashid banks, attended by representatives from Ernst & Young, according to a statement issued by Al-Sudani's media office.
The statement added that the meeting reviewed the progress made in the banking reform process, which the government has adopted to restructure and develop Rafidain and Rashid banks. It also discussed revising their internal regulations to ensure they are in line with international standards and the objectives of banking reform. It also discussed the issue of private debts in the two banks, their repayment mechanisms, and the measures taken to train their staff.
In this regard, the Prime Minister directed the two banks to continue their reform process, and for their managements to develop strategies that contribute to accelerating the reform process.
The meeting also followed up on the procedures for establishing a new bank called Rafidain First Bank.
The Council of Ministers, in a session held on January 13, approved the establishment of this bank, with a different vision that embraces modern technologies and international standards to help implement the government's financial and banking reform objectives, which will have a positive impact on the country's economic trajectory and development.
The statement indicated that Ernst & Young submitted a report in which it reviewed the financial and technical offers for the project to establish the First Rafidain Bank.
Outcomes of the Sudanese meeting on reforming the Rafidain and Rashid banks
3/23/2025
Baghdad
Prime Minister Mohammed Shia al-Sudani chaired a meeting on Sunday to follow up on reform measures for the Rafidain and Rashid banks, with representatives from Ernst & Young in attendance.
The meeting reviewed the progress of the banking reform process adopted by the government to restructure and develop Rafidain and Rashid banks, and discussed revising their internal regulations to be in line with international standards and the objectives of banking reforms. It also discussed the debts of the two banks and their repayment mechanisms, as well as the measures taken to train their staff. In this regard, the Prime Minister directed the continuation of the reform process for the two banks, and for their administrations to develop strategies that contribute to accelerating the reform process.
The meeting also followed up on the procedures for establishing a new bank, Rafidain First Bank, which was approved during the Cabinet session held on January 13. The bank's vision is to adopt modern technologies and international standards that will help implement the government's financial and banking reform objectives, which will have a positive impact on the country's economic trajectory and development.
Ernst & Young submitted a report reviewing the financial and technical offers for the project to establish the First Rafidain Bank.
MILITIAMAN: Iraq Dinar News-Reformed Banks to International Standards-Integration-Global Financial Markets
Summary
In this video, the speaker outlines key developments regarding the banking sector in Iraq, particularly focusing on the ongoing reforms in the Rafidain and Rashid banks. The Prime Minister of Iraq,
Shia El Sudani, is emphasizing the urgency of adopting international banking standards to accelerate the reform of these state-owned banks.
The speaker notes that privatization of these banks is a critical component of Iraq’s broader monetary reforms, with the expectation that these changes will lead into the reevaluation of the Iraqi dinar.
The discussion also touches on the importance of digital transformation in the banking system, highlighting the establishment of a new bank named Rapidan First Bank as part of these reforms.
The speaker notes the significance of engaging global financial practices to enhance confidence in Iraq’s banking industry. Additionally, a consultant from the government speaks on the need for an efficient company registration process, introducing a new electronic system that drastically reduces the time it takes to register a company, thereby fostering investment and boosting the economic climate.
The speaker expresses optimism about Iraq’s shift towards diversifying its economy by reducing reliance on oil revenue, proposing measures like activating tax collection systems and promoting private sector engagement.
The discussion also covers the modernization and digitalization of Iraq’s financial systems, hinting at a strategic connection to international systems, including potential use of digital currencies.
Highlights
🌞 Community Engagement: The speaker invites viewers to participate in a vibrant Patreon community and join discussions on platforms like Discord.
🏦 Banking Reforms
: Prime Minister Shia El Sudani is focused on reforming Rafidain and Rashid banks to meet international standards.
💻 Digital Banking Transformation: Introduction of advanced banking systems and digital transactions to enhance operational efficiency and security.
🌍 Global Integration: Iraq aims to integrate into global financial markets, boosting investor confidence and opportunities.
📊 Private Sector Growth: Emphasis on shifting citizens’ focus from public employment to thriving private sector opportunities.
⏳ Streamlined Company Registration: New electronic systems reduce company registration time from weeks to minutes, enhancing business efficiency.
📈 Economic Diversification: Strategies are put forth to lessen Iraq’s dependence on oil by fostering development in various sectors and sources of revenue.
Key Insights
🌐 Urgency of Banking Reforms: The current push for reform in state-owned banks indicates a strategic shift towards private banking that could bolster Iraq’s economic stability. The prime minister’s engagement signifies awareness of international banking standards’ criticality to attract foreign investments.
📉 Privatization as a Path to Success: The privatization of banks is not just an overhaul of the banking system but is indicative of a broader economic strategy to improve financial health and credibility on a global stage, essential for the anticipated revaluation of the Iraqi dinar.
🔍 Importance of Digital Transformation: The shift towards digital infrastructure within Iraq’s banking sector suggests a significant alignment with modern financial technologies, improving transaction processing, transparency, and anti-corruption measures, and is likely to position Iraq favorably among international banking standards.
💰 Investor Attraction via Modern Banking: By enhancing the banking sector with advanced monitoring systems and compliance regulations, Iraq is working to create an inviting environment for investors, thereby expanding its economic landscape beyond oil dependency.
🏢 Digital Systems for Business Efficiency: The establishment of a unified electronic system for company registration reduces bureaucratic delays and demonstrates a commitment to improving the business climate and encouraging entrepreneurship, particularly for larger investments, possibly leading to increased economic activity.
🌱 Broad Economic Strategy: Iraq’s focus on diversifying its economy by reducing oil dependency highlights an initiative to create sustainable revenue sources through sectors like agriculture, industry, and services, showcasing a long-term vision for national economic resilience.
🔗 Global Economic Relationships: Discussions surrounding the Silk Road and potential partnerships in regional development indicate a strategic positioning of Iraq within larger economic frameworks that may bolster its trade relationships and position as a central player in Middle Eastern economic networks.
Conclusion
The speaker’s insights shed light on the critical reformative actions being taken by Iraq’s government, particularly in the banking sector, as well as the comprehensive strategies aimed at revitalizing its economy through modernization and digital transformation. The intended outcomes not only encompass improvements in internal banking practices but also align with a global financial perspective that Iraq aspires to achieve, making significant strides towards a robust economic future. As the nation embraces these changes, the potential positive repercussions on investment, economic stability, and international partnerships become increasingly clear, setting the stage for substantial economic growth alongside a diversification away from traditional oil dependency.