Advisor to the Prime Minister Reveals Plan to Merge Rafidain and Rasheed Banks, 8 APRIL

 Advisor to the Prime Minister Reveals Plan to Merge Rafidain and Rasheed Banks

 
Economy     Yesterday, 6:26 PM  Baghdad – INA  Advisor to the Prime Minister and Executive Director of the Reform Management Cell, Amer Al-Adhadh, revealed plans to merge Rafidain and Rasheed Banks.
 
While addressing the government's achievements in the field of economic reforms,
he explained the contents of the "House of Reform" project and its importance to the investment portfolio.

He also outlined the contents of the draft law on public-private partnerships, which aims
to enhance the investment environment in Iraq.
 
Al-Adhadh told Al-Shabaka magazine, as reported by the Iraqi News Agency (INA), in his discussion of the  "House of Reform" project, "This project is not merely a government program, but rather 
a comprehensive roadmap aimed at achieving sustainable development through interconnected objectives,one of which is activating human capital and enhancing national competencies." 

He added,  "Economic reforms cannot succeed without an investment-attractive legal and regulatory environment, which is what the government is working to achieve through this project."
 
Regarding cooperation with the World Bank, Al-Adhadh stated, "The World Bank commended the reforms implemented by the Iraqi government,including the  "House of Reform" policies that support sustainable development.
 
Cooperation focuses on   supporting financial reforms,  providing technical advice, and   financial assistance to     enhance the stability of the Iraqi economy and  improve financial governance systems." 
 
Al-Adhadh also noted that "the government has made significant progress in preparing the draft law on public-private partnerships, which is an essential part of the government's program.
 
This partnership aims to enhance cooperation between the government and the private sector, particularly in infrastructure, transportation, and energy projects, contributing to stimulating the national economy and achieving sustainable development."
 
Regarding the restructuring of the banking sector, Al-Adhadh revealed a plan to merge Rafidain and  Rasheed Banks into a single entity with the aim of  
     improving Iraq's credit rating and  increasing international confidence in the banking sector.

 He noted that an international consulting firm has been commissioned to oversee the merger process, which includes   improving financial and administrative performance and     developing digital infrastructure.
 
The Prime Minister's advisor also addressed the issue of economic diversification, stressing that
 
"the government has achieved a significant increase in non-oil revenues, which is 
an important achievement within the strategy to diversify sources of income." He noted that  
"the government is focusing on   improving tax administration,  developing customs duties, and
     stimulating investment in non-oil sectors such as  industry,   agriculture,  tourism, and  technology, 
to ensure the sustainability of these revenues." 

Al-Adhadh emphasized that  "the economic reforms implemented by the government contribute to strengthening the investment environment and achieving sustainable economic growth, ensuring Iraq has a stronger and more diversified financial future."    https://www.ina.iq/231484--.html 

FIREFLY: .How can the project be completion phase at 1310? , 8 APRIL

  Frank26  

[Iraq boots-on-the-ground report]  

FIREFLY:Mr Sammy pointed out...how can the projects be complete?  

They say the projects are almost complete in completion phase...How can the project be completion phase at 1310?    

FRANK:   Because of the second set of books!  

FIREFLY:  We need to see them as soon as possible!

JENTEL NOTES: Announcement coming. 24-hr period. The transition has begun! @DINARREVALUATION #iqd

 

Al-Sudani discusses with JP Morgan the mechanisms of securing financial transfers and their arrival in Europe and America, 8 APRIL

 Al-Sudani discusses with JP Morgan the mechanisms of securing financial transfers and their arrival in Europe and America

Economy News – Baghdad

The Prime Minister, Mohammed Shia Al-Sudani, discussed on Tuesday, with the delegation of JPMorgan, headed by the bank’s deputy director Daniel Zeleko, strengthening cooperation in the financial and banking fields.

The Prime Minister’s Media Office said in a statement received by “Economy News” that “the Sudanese met with a delegation of JPMorgan Bank headed by Deputy Director Daniel Zeleko on the sidelines of the Iraqi banking sector reform conference held in Baghdad.”

During the meeting, “there was a discussion of enhancing cooperation in the financial and banking fields, and the bank’s participation in the financing of various investment projects, in addition to discussing the mechanisms of securing credits and financial transfers and their access to their beneficiaries in Europe and the United States, which will contribute to improving the services provided to Iraqi traders and importers.”

Al-Sudani stressed the importance of expanding the areas of partnership between Iraqi banks and JPMorgan Bank, pointing out the government’s readiness to provide all forms of support to strengthen this relationship.

For its part, the delegation of JPMorgan Bank expressed “the readiness to increase cooperation with Iraq, by expanding the number of correspondent accounts open to Iraqi banks, and their readiness to finance a number of investment projects directly or through partner financial institutions.”
 

Intel from Jaby and T: Worldwide Payments on Wednesday, 8 APRIL

 Intel from Jaby and T: Worldwide Payments on Wednesday

Received via email

Jaby, [Apr 7, 2025 at 2:31 PM]

Dear Asset-Holders, friends and partners.

Just received.

Be careful what you say on the phone starting today.

All Paymasters in the world will be funded today and tomorrow. 

Payments on Wednesdays worldwide. Starting tomorrow, there are new communication rules regarding sellers, consultants, and intermediaries: 

Ø All calls will be recorded
Ø All phone call logs are logged 
Ø All calls and WhatsApp messages are logged 
Ø Twitter is monitored
Ø Facebook is monitored 
Ø All social media and forums are monitored
Ø Log in for those who don’t know. 
Ø All devices are connected to federal government departmental systems. 
Ø Be careful not to send unnecessary messages or information that goes against the law and morals.

Avoid sharing confidential information with your friends and family. 

It is very important to pass this message on today because starting tomorrow, there will be another form of surveillance in the country, surprising but correct. 

Pass it on to all your loved ones and friends today. 

In this case, it’s good not to doubt because this month 40 Starlinks satellites were launched. 

Do you know with absolute certainty their functions? 

So… keep your mouth shut on this matter. No mosquito.

Respectfully yours, Global Buyer Team

———————

From T on Telegram

Private Banker::

The Iraqi RV will be on Forex on Monday.

D-1 and I assume D-2, will start Tuesday-Wednesday.

The Global Announcement should take place right after D-1 starts.

Then the Global Redemption Program starts along with the Redemption Program Buyers being given the Green Light to become Liquid and start calling the Redemption Program Sellers!

“This next week should be the Big One.

God bless you

Private Banker: “This next week should be the Big One" @DINARREVALUATION #iraq #iraqidinar

 

Parliamentary Finance Committee stresses the need to reach an understanding with the US Treasury regarding the evaluation of banks, 8 APRIL

 Parliamentary Finance Committee stresses the need to reach an understanding with the US Treasury regarding the evaluation of banks

The Parliamentary Finance Committee stressed the need to reach an understanding with the World Bank and the US Treasury regarding the evaluation of Iraqi banks’ performance, to avoid any “sudden” decisions that could negatively impact the country’s banking sector.

This came in a speech delivered by Finance Committee Chairman Atwan Al-Atwani on Monday during his participation in the Iraq Banking Sector Development Conference, attended by Prime Minister Mohammed Shia Al-Sudani and in cooperation with Oliver Wyman, in Baghdad. 

Al-Atwani congratulated the Central Bank of Iraq’s management on the launch of the “Banking Sector Development Project,” noting that it “represents a starting point for a comprehensive reform of the financial and monetary systems, based on solid scientific foundations, and paves the way for achieving sustainable development and economic reform.”

The Chairman of the Finance Committee noted the committee’s commitment to supporting the Central Bank’s efforts to promote sustainable financing concepts, encourage public and private banks to finance economic activities and development projects, and diversify sources of income, thus contributing to reducing the financial deficit in public budgets. He added that “the banking sector is the cornerstone for driving the national economy and combating corruption.”

Al-Atwani emphasized that developing this sector “is a cornerstone of the economic reform project and a pivotal step in the transition to a diversified economy, away from excessive reliance on oil revenues.” Discussing maximizing non-oil revenues, he explained that “the introduction of modern banking systems into the Tax and Customs Administration contributes to improving financial transaction tracking mechanisms, enhances revenue collection efficiency, and reduces tax evasion, in addition to closing informal outlets that drain the state’s resources and weaken its ability to invest and provide services.”

Al-Atwani also emphasized that rebuilding confidence in the banking system and expanding the scope of digital transactions, both domestically and internationally, requires developing the banking sector’s infrastructure and enhancing its cybersecurity. Furthermore, the reform process requires establishing genuine partnerships with international banks and institutions and regulating foreign remittances to ensure compliance with international standards.

The head of the Finance Committee called for “the necessity of formulating a clear understanding with the World Bank and the US Treasury, establishing the principle that the Central Bank of Iraq is the body authorized to evaluate banks’ performance, ensure their compliance, and punish violators, to avoid any sudden decisions that would negatively impact the banking sector.”

Al-Atwani concluded his remarks by emphasizing the need for a comprehensive “reform revolution” beginning with the banking sector, emphasizing that “this requires genuine political will, institutional cooperation, and a strategic vision that goes beyond temporary solutions.” He also called for collective responsibility for reforming the banking sector, “considering it a national priority that touches on national security and financial stability, directly impacts citizens’ livelihoods, achieves social justice, and ensures the future of future generations.”

The United States announced sanctions on a group of Iraqi banks, including Rafidain Bank, for allegedly smuggling US dollars to sanctioned countries, most notably Iran. The US called on the Iraqi government to implement reforms at these banks as soon as possible.

https://aljeebal.com/posts/4777