Friday, April 11, 2025
Digital currencies to reshape Iraq’s banking sector, 11 APRIL
Digital currencies to reshape Iraq’s banking sector
Baghdad (IraqiNews.com) – The governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, said on Monday that digital currencies will help transform Iraq’s conventional banking system.
Al-Alaq clarified during the Conference on Reforming the Iraqi Banking Sector that the CBI wants to establish an advanced economy and emphasized the need for more funding for artificial intelligence research and development.
Al-Alaq explained that digital currencies have the potential to transform the conventional banking system, noting that the CBI has declared its willingness to carry out a plan for banking sector reform, the Iraqi News Agency (INA) reported .
In collaboration with the international consulting company Oliver Wyman, the CBI announced an extensive reform strategy designed to make the country’s private banking industry a robust, innovative, and expansion-oriented system.
Al-Alaq revealed in late February that the CBI is planning to create a digital currency to replace paper notes in transactions with central banks.
The Iraqi official added that fundamental changes will take place in the banking and financial systems, including the limited use of paper notes, as they will be replaced by digital currencies in transactions between central banks.
https://www.iraqinews.com/iraq/digital-currencies-to-reshape-iraqs-banking-sector/
RV NEWS: A trigger has been pulled!!, 11 APRIL
RV NEWS
THE TEAM: A trigger has been pulled.
They are watching rates (public rates) rise on the back screens and should be made public, for several countries, any time between tonight and Wednesday.
The public disclosure phase is imminent. It will be explained as an attempt to combat tariffs and inflation.
The markets will go up and down.
Iraq was forced to do so.
They talk about oil and minerals. This will help the markets and the dollar to "land" (?). Stabilize.
It will be announced soon. 24 hour period.
The transition has begun.
Here is the link to yesterday's program in case you want to see it in full
Frank26: "BANKING REFORM IS THE MONETARY REFORM FOR AN EXCHANGE RATE", 11 APRIL
KTFA
Frank26: "BANKING REFORM IS THE MONETARY REFORM FOR AN EXCHANGE RATE".....F26
Al-Nusairi confirms that the comprehensive banking reform project announced by the Central Bank will yield promising results.
4/9/2025- Baghdad
Economic and banking advisor Samir Al-Nusairi confirmed that the banking reform project announced by the Central Bank is consistent with the methodology included and adopted in the government program and the Central Bank's third strategy for the years 2023 and 202
. It will yield promising results in cooperation with global consulting firms Ernst& Young, K2, and Oliver Wyman to build a transparent information base for comprehensive reform, starting with the banking sector as the first essential link in the economy. Without a sound, solid, and modern banking sector, a strong and robust national economy cannot be built.
Al-Nusairi pointed out that among the important initial results achieved is the commencement of the completion of the actual implementation of the plans drawn up during 2025 and 2026 for comprehensive reform, which are summarized in enhancing financial inclusion and achieving stimulating and sustainable returns for shareholders and investors, and the government and the Central Bank leading projects aimed at modernizing the private banking sector and meeting the needs of the transition to a rapidly growing national economy, creating a fair competitive environment in the banking market, and raising the level of private banks’ ability to confront risks and protect depositors and creditors, thus restoring confidence in the banking sector in general, as well as expanding digital transformation procedures, expanding and diversifying banking services and products, and complying with international standards.
Al-Nusairi pointed out that the above objectives, which were discussed yesterday at the Banking Reform Conference, are established as primary and secondary objectives in the Central Bank's third strategy for the years 2024-2026, and that work is being done on them with a steady, systematic approach, and that the objectives will be achieved in cooperation with Oliver and Wyman at an accelerated pace in the years 2025 and 2026.
It is clear that the Central Bank, in cooperation with relevant authorities, will focus on the following: sharing with the private banking sector detailed criteria and timelines for implementing the reform process, activating support channels, and holding workshops to provide technical assistance.
The Central Bank of Iraq is fully committed to achieving this transformation by working closely with all relevant stakeholders to pave the way for a strong, resilient, modern, and inclusive financial and banking system. LINK
TIDBIT FROM FRANK26, 11 APRIL
Frank26
The monetary reform education, the Asraflak, is teaching them about the new coins...lower notes...ATMs...the services that they have at the banks now that they are international. They're teaching them about things they've never told them before...None of this is at 1310.
All of this is based on a new exchange rate...It's a process...Let it unfold. Let it walk its way through.
Article: "Axis Cracks: Iran-Backed Militias in Iraq Consider Disarmament"
The militia is considering to leave Iraq because they're scared of Trump?
They're gone and so is Iran and so are their militia and so is the reason we don't have the new exchange rate...We are walking into peace.
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