Wednesday, April 9, 2025
The Central Bank announces a comprehensive reform project for the private banking sector, 9 APRIL
The Central Bank announces a comprehensive reform project for the private banking sector
Economy | 04/07/2025 Mawazine News – Baghdad The Central Bank of Iraq (CBI) unveiled reform plans aimed at modernizing the Iraqi private banking sector and building a robust, modern, and resilient banking sector that drives economic growth and enhances financial inclusion, in partnership with Oliver Wyman Consulting.
The plans include strengthening and deepening financial inclusion in Iraq, raising the efficiency and productivity of the private banking sector, and creating a fair and healthy competitive environment in the market, while enhancing the sector's resilience and ability to withstand risks.
According to a CBI statement, this project will contribute to enhancing the protection of depositors and creditors, while financial education campaigns will help restore confidence in dealing with banks.
Payment systems will be modernized to facilitate efficient and reliable transactions for both businesses and individuals, in addition to expanding the financial infrastructure, including increasing the network of branches and ATMs.
The CBI statement indicated that a prerequisite for the success of the plans is requiring all banks to comply with a set of standards and participate actively in the sector's transformation process.
The Central Bank confirmed that the key banking standards to be implemented will set maximum ownership limits to prevent excessive control (concentration) by any single entity or related parties, in addition to ensuring the presence of competent and independent boards of directors, with suitability tests being applied to all key leadership positions.
Banks will be required to adopt sustainable and viable business models by submitting consistent detailed business plans, strategic plans, financial forecasts, organizational structure, technology implementation plans, and operational management plans.
Capital adequacy and liquidity ratios will be maintained in line with global best practices to ensure banks' resilience in the face of financial crises.
The reform process will be a multi-stage journey, during which private banks will be assessed for their compliance with the required standards at various stages of the reform process. The first evaluation cycle is expected to begin in the first quarter of 2026. https://www.mawazin.net/Details.aspx?jimare=260609
CRYPTO TRADER: Still think they won't exchange IQD after it starts trading on forex.?, 9 APRIL
CRYPTO TRADER
#IQD
Iraq seeks JP Morgan's financial muscle.
Still think they won't exchange IQD after it starts trading on forex.?
Parliamentary Finance Committee: Launching The Banking Reform Plan Is The Beginning Of Economic Reform, 9 APRIL
Parliamentary Finance Committee: Launching The Banking Reform Plan Is The Beginning Of Economic Reform
Banks Economy News – Baghdad Parliamentary Finance Committee Chairman Atwan al-Atwani affirmed on Monday that the launch of the banking reform plan is the beginning of reforming the Iraqi economy.
In a speech at the Iraqi Banking Sector Reform Conference, attended by an Al-Eqtisad News correspondent, Al-Atwani said, "Developing the banking sector is a fundamental pillar for developing the Iraqi economy beyond oil revenues."
The head of the Finance Committee called for "diversifying revenue sources to cover the financial deficit."
He pointed out that "the reform and development process must be accompanied by engagement with international banks to regulate foreign remittances." He stressed that "unofficial border crossings cause a waste of public money." https://economy-news.net/content.php?id=54179
Adam Stephens : I feel it's important to remember that the entire RV is fluid., 9 APRIL
Hello everyone,
I feel it's important to remember that the entire RV is fluid. Pieces we have been told over the years were in error, or correct at the time.
One thing is for certain, yesterday's announcement from President Trump was a major... MAJOR element of the forward movement. He threw down the gauntlet.
The highest tariffed countries, Vietnam and India have already made deals and dropped their tariffs imposed on the United States. Canada has also dropped its tariffs.
Iraq is still facing a 39% Tariff which would apply to any oil that they send to the United States. That's not going to be something they can handle.
This is the window period which these countries absolutely should revalue their currencies. Hense these photos and images above. How many of us missed that from when Trump came down the escalator? I know I missed it.
April 2nd was a date that the music of the world changed.
Are we in the Redemption Centers today? Not yet.
And we haven't seen the 800 number yet for 4B. We all need this to happen. We are all praying for it to happen.
I pray everyday to that they give us the 800 number so that peoples pains will be taken away. We are all exhausted.
I've been seeing a lot of people who see what is going on... and it's a global message. They know it's almost here. They know the time for 4B is arriving.
Adam Stephens
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