What I think they're really going to do first is delete the zeros with the project of the deletion of the zeros and then revalue the currency.
I think what they're waiting for is the working of the central bank digital currency before they make their change. There's no sense in doing it more than once.
If that's the case well then we know that no changes or no revaluation of any real significance are going to come to the Iraqi dinar until after the Iraqi Central Bank digital currency is developed.
What that means for people holding Iraqi dinar I'm not quite sure.
FRANK26: "BUDGET TABLES THIS MONTH, NOT NEXT MONTH!!!".....F26
Revealing the date for the 2025 budget tables to reach Parliament.
4/4/2025
Baghdad - Member of Parliament Adnan al-Jaberi revealed, on Friday (April 4, 2025), the date for the arrival of the current year's budget tables to Parliament.
Al-Jaberi said in an interview with Baghdad Today, "The Council of Ministers will discuss the budget tables and send them to Parliament," indicating that "the Parliament will discuss them quickly and will not be delayed until next month to be passed and ratified for implementation." He added, "There are important service-related items that will be included in the budget tables, and therefore we demand that they be received for the purpose of their rapid passage." It is noteworthy that the 2025 budget comes within the framework of the three-year budgets approved for the first time in Iraq within the General Budget Law for the years (2023-2024-2025), a step aimed at achieving financial stability and overcoming the crisis of annual delays in approving budgets.
However, the financial tables need annual updates to keep pace with economic developments, including changes in oil prices, the government's obligations towards the governorates and the Kurdistan Region, and the requirements of investment projects. It appears the 2025 budget will not deviate from this framework, as amendments are currently being made to some of its provisions, delaying the submission of its schedules to Parliament, despite expectations that no radical changes will occur compared to the past two years.
In this video, Melanie Hinder, known for her insights on the Iraqi dinar, shares updates on Iraq’s financial landscape, focusing on significant contracts, the role of digital banking, and emerging business opportunities in the region.
Hinder discusses the auditing contracts signed with consulting firms like Oliver Wyman and Ernst & Young, which are slated to analyze Iraq’s Central Bank and government spending. She emphasizes the significance of the upcoming digital currency transition and how audit firms will report findings crucial to Iraq’s financial future.
Hinder highlights the recent contract signing for the Development Road Project and the involvement of international firms in various sectors, particularly in infrastructure. She provides context on the returning Iraqi diaspora invested in local businesses and technology startups,
showcasing figures like entrepreneur Muhammad Kadari and his contributions to developing Iraq’s economy. Other updates include reforms in the customs and border control sectors aimed at combating smuggling and enhancing trade, primarily through the implementation of AI and blockchain technology.
Hinder urges audience members to remain optimistic about investment opportunities as Iraq prepares for potential currency revaluation amid growing economic indicators.
📈 Digital Transformation: Iraq’s Central Bank and government financial auditing by reputable firms.
💡 Consulting Contracts: Key contracts established with Oliver Wyman and Ernst & Young signal robust financial oversight.
🌍 Development Road Project: A significant infrastructure initiative aiming to reconnect Iraq with global markets as part of China’s ambitious plans.
💻 Emerging Businesses: Iraqi entrepreneur Muhammad Kadari’s successful ventures highlight that doing business in Iraq is profitable and viable.
🔄 Customs Reform: Introduction of AI and blockchain technology to modernize customs procedures and boost trade efficiency.
🚀 Investment Opportunities: Predictions of substantial benefits for investors as the dinar’s value potentially rises with the economic transformations.
🇮🇷 Trade Relations: Iraq’s shift away from reliance on the US dollar amidst changing geopolitical dynamics.
Key Insights
💼 Strategic Audits: The strategic involvement of Oliver Wyman and Ernst & Young in auditing Iraq’s financial system reflects a serious commitment to economic reform. This not only increases transparency but also signals to international partners that Iraq is serious about clean governance and accountability as it seeks to enhance investor confidence and spur economic growth.
🛤️ Infrastructure Investments: The Development Road Project embodies Iraq’s potential for growth, linking it to broader infrastructural goals set forth by China. Such projects will address long-standing infrastructure issues, aiming to modernize trade routes and attract international investments. The long-term implications of this project promise to revitalize trade dynamics across the region.
🎉 Supporting Local Entrepreneurs: The role of local entrepreneurs like Muhammad Kadari is crucial in fostering an entrepreneurial culture in Iraq. Their success promotes confidence in the local economy, encouraging other investors and businesses to tap into emerging markets like tech, retail, and oil. This shift could transform Iraq from a war-torn country to a vibrant economic landscape.
🤖 Technological Integration: The embrace of cutting-edge technologies like AI in customs procedures marks Iraq’s commitment to modernizing its trade practices. By leveraging technology to enhance efficiency and reduce corruption, Iraq positions itself as a forward-thinking nation capable of navigating global trade complexities in a digital age.
🌱 Returning Diaspora: The return of the Iraqi diaspora signifies a critical workforce ready to contribute to national recovery. This influx can revitalize sectors needing skilled labor, thereby accelerating economic recovery and fostering innovation. The involvement of the diaspora is also vital for local businesses as they often bring investment and experience from abroad.
💰 Currency Valuation Speculation: There is a growing sentiment that Iraq’s dinar may soon revalue, based on speculation by financial analysts and insiders. This potential change not only impacts individual investors but also has larger implications on Iraq’s financial standing globally, promoting a more favorable exchange rate for transactions.
🏦 Shifts Away from the Dollar: Iraq’s emerging move away from the US dollar in trade indicates a strategic realignment of its economic policies. Such a pivot could strengthen Iraq’s sovereignty over its financial matters, reducing dependence on external currencies and reinforcing its national currency’s validity and stability.
Overall, the video underscores a momentous transition phase for Iraq, where strategic planning, significant contracts, and technological innovations converge to pave the way for a potentially bright economic future.
ASYCUDA representative to Rudaw: Iraq has completed the automation of 18 border crossings.
4/2/2025
ASYCUDA's representative in Iraq, Nizar Al-Ammari, confirmed that the customs automation system is currently implemented at 18 of the 21 ports, with difficulties in implementing it on the Syrian border despite the port's readiness.
He noted that two additional ports (one sea and one land) will be operational by the 15th of this month, thus completing the automation of all Iraqi ports.
Al-Amari told Rudaw Media Network on Wednesday (April 2, 2025) that the ASYCUDA system focuses on the three basic customs operations: import, export, and transit, and includes all customs procedures from the moment goods are registered until they leave the customs port. All of these operations have become fully electronic, including payment.
He added that the system has entered its second phase, which includes automating the remaining ports and adding new applications to improve monitoring and maximize trade revenues. The third phase will include the implementation of a single window for foreign trade, which will make all foreign trade operations in Iraq fully automated, eliminating any paper transactions or cash payments.
Al-Amari emphasized that the new system will improve the accuracy of trade statistics in Iraq, helping to develop clear economic and strategic plans, a matter of utmost importance to the international community. He explained that the automation of customs will enhance trade fairness for all traders, as customs laws will be applied uniformly to all.
He pointed out that the system automatically calculates customs duties and regulates import and export permits, reducing the possibility of tampering with customs data. He emphasized that work is also underway to link the Iraqi system with those of neighboring countries, which will enable the identification of incoming goods before they arrive in Iraq, thereby limiting any attempts at manipulation or smuggling.
He stressed that the United Nations respects the sovereignty of states and regions, and that its role in Iraq is limited to providing technical and economic advice without political interference. He noted that the ASYCUDA system was agreed upon between the Iraqi federal government and the Kurdistan Regional Government.
Regarding the implementation of ASYCUDA in Kurdistan, Al-Amari pointed to three options: first, the Kurdistan Region would continue to use its current system or a different system with the possibility of linking it to ASYCUDA, provided it complies with international standards. Second, the Kurdistan Region would adopt the ASYCUDA system in full in the region through the Iraqi government, but this would be a complex option due to the linguistic and technical differences between the two systems.
The third option is to develop the ASYCUDA system in Kurdistan independently, linking it to the Iraqi system, as is the case in many countries that adopt unified systems with integration between local and international systems, he said.
Member: I wonder where we are with the bondholders ?
MZ: Here is a big one for you. “ASYCUDA representative to Rudaw: Iraq has completed the automation of 18 border crossings” We were told they would secure their financial borders right before we went. They now have secure borders and I think this is an important piece.
MZ: “ APIKUR urges swift resumption of Kurdistan Region oil exports” they desperately want that il to start flowing and are waiting on the rest of the arrangements to be made.
Member: It’s always something over there….sigh
MZ: I am hearing they are (once again) very close. I am hearing they hope to sign everything on Sunday for oil to start flowing Monday morning.