Article Quote: "The government enhanced the infrastructure for digital payments and transactions by strengthening protocols and systems to facilitate electronic payments across sectors...Awareness campaigns have been launched to promote digital payment culture among citizens."
Iraq still hasn't completed its banking sector revitalization programs...
All is NOT done. However, over half of the banking sector agenda was involved with Fin Tech and digital modernization, still not yet complete.
The Vice President of the US Chamber of Commerce, Steve Lutes, announced that “his country’s companies in the energy and healthcare sectors will visit Baghdad in the coming period,” stressing that “there are tremendous opportunities in Iraq.”
A US delegation arrived in Iraq last Monday, the largest US trade mission ever, comprising representatives from 60 companies across various sectors.
In a statement seen by Al-Masry Al-Youm on Thursday, Lutz said, “The American delegation listened to a speech by Prime Minister Mohammed Shia al-Sudani regarding relations between Iraq and the United States and ways to develop them.”
He added, “The US economic delegation signed several important agreements with Iraq, some of which were attended by the Iraqi Prime Minister, and this was in coordination with the US Treasury Department.”
Lutz noted that “this visit will be a new spark for developing relations between American economic and business companies and Iraq, especially given the many investment opportunities we seek to capitalize on in light of the long-term partnership with our Iraqi partners.”
😊Lastly there is one article that totally shocked me (in a good way). This one is titled “IRAQ INTENDS TO PURCHASE AND MANUFACTURE 23 CRUISE SHIPS”.Really, cruise ships in the desert.
The Ministry of Transport intends to contract for the purchase and manufacture of 23 different vessels and boats to support the river transport sector and stimulate its movement locally and internationally as part of a plan to revitalize the sector in the country.
The Director General of the Ministry’s General Maritime Transport Company, Ahmed Al-Asadi, said his company intends to contract for the purchase of 15 tourist boats to activate the river taxi project, in conjunction with the Ministry’s plan to develop the Corniche dock in Basra Governorate, which is currently being referred for implementation.
Folks can you see it yet? Come ‘on! This article is the icing on the cake for today’s news.
They must have planned this Corniche dock project for a while and are now activating it based on money from the budget. Iraq is planning a vast tourist industry. We already know about the annual pilgrimages to Iraq, as Iraq is considered the cradle of civilization.
There are many museums and religious sites to see. The many waterways in Iraq are ideal for this project. I remember Iraq when I was stationed there from my Army days and I always said how nice it would be have peace and to be able to take a quite cruise down one of their lovely many rivers. These rivers include the Tigris River, Euphrates River and other rivers such as Diyala, Little Zab, and Great Zab also flow through the country. My point is the are no longer just riding camels…lol..lol..lol.
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So, today I am going to emphasis again that we must be patient and wait. Noone knows the date of the RV. Not even these idiot intel gurus i.e. TNT, Bruce, MarkZ, Frank 26 and an array of others. Our RV is coming but it is all attached to the reinstatement back to FOREX. This is a byproduct of all the reforms.
Iraq is now being methodically pieced back together and the goal is to have a booming economy. Why did it take 20 years? This timespan is based on two issues. One was the corrupt past U.S. adminstrations and the inability due to Chapter VII sanctions still being in place.
What we don’t know is exactly how far they have to go to get the reinstatement. My guess, and this is ONLY a guess is that when this Iranian issue is resolved we can expect wonderful things to occur. Heck… they told us today that by June they will have resolved the dollar crisis.
We will not be exchanging at the rate we want until the U.S. says so. In the meantime, we will just have to suck it up and put on our BIG BOY pants and learn about our investment. The more I think about it the more I realize we would not have even wanted this RV during the Obama or Biden administrations anyhow since they would have only found creative ways to only take it from us. That’s what socialist do – Spend and tax, spend and tax.
RAFIDAIN BANK LAUNCHES OBDX SERVICE AFTER ACTIVATING ANTI-MONEY LAUNDERING SYSTEMS
Rafidain Bank announced today, Friday, the launch of its online banking service, OBDX (Online Banking Digital Experience), following the activation of anti-money laundering and counter-terrorism financing regulations. This step aims to enhance digital transformation and comply with international standards.
The bank confirmed in a statement received by {Furat News} that “the new service has been successfully implemented with a number of government agencies, and is part of Rafidain’s strategy to provide a safe and advanced banking environment that keeps pace with global trends toward financial transparency and good governance.”
He added, “The OBDX service provides an integrated digital banking experience, enabling government agencies to conduct their financial transactions electronically and with the highest levels of security, which contributes to accelerating procedures and reducing reliance on paper transactions.”
The launch of the service coincides with the activation of the AML and GOAML systems, which monitor and analyze transactions to prevent any suspicious or illegal activities, ensuring the bank’s full compliance with anti-money laundering and counter-terrorist financing requirements.
The most prominent features of the new service:
Advanced banking security according to international standards.
Comprehensive compliance with local and international laws.
Ease of conducting remote transactions for government agencies.
Improving banking efficiency and reducing paperwork.
Rafidain Bank continues to provide innovative digital services that contribute to the development of the Iraqi banking sector and enhance customer confidence in the national banking institution.
Rafidain launches “Internet Bank
ing” service
Rafidain Bank announced today, Friday, the launch of its OBDX online banking service after activating anti-money laundering and counter-terrorism financing regulations.
A statement from the bank, received by Al-Ghad Press, stated, “In a qualitative step that keeps pace with global trends towards digital transformation and enhancing banking transparency, Rafidain Bank announced the launch of the online banking service OBDX (Online Banking Digital Experience ) after activating the Anti-Money Laundering ( AML ) and Government Online Anti-Money Laundering (GOAML ) systems. The service has been successfully activated in a number of government agencies.”
He added, “This decision comes within the framework of the bank’s strategy to provide a safe banking environment that adheres to the latest international standards for combating money laundering and terrorist financing, as well as facilitating electronic financial transactions for government agencies.”
He explained, ” OBDX is an innovative digital banking experience that represents a qualitative shift in the way banking transactions are conducted, allowing government entities to access their accounts and conduct all banking transactions easily and securely online. This service helps expedite processes and reduce reliance on paperwork, which contributes to improving efficiency and enhancing transparency.”
The statement pointed out that “the role of the AML and GOAML systems in ensuring compliance. In parallel with the launch of the OBDX service , Rafidain Bank activated its Anti-Money Laundering ( AML ) and GOAML systems to ensure full compliance with international standards for combating money laundering and terrorist financing.
The AML system automatically monitors financial transactions and analyzes suspicious patterns, while the GOAML system records and analyzes banking data to ensure it is not used for illegal activities.”
He stated that “the advantages of the OBDX service supported by compliance systems:
Superior Security: Integrated systems ensure full compliance with international standards, enhancing the security of financial transactions.
2. Global Compliance: The bank ensures the highest levels of transparency and compliance with international anti-money laundering laws. 3. Ease of access: Enables government agencies to conduct financial transactions easily and securely online without having to visit branches.
4. Increasing efficiency: reducing traditional procedures and accelerating transactions while ensuring compliance with global financial laws and policies.
😊Here is yet another article on this subject matter which is telling us that even the International Development Bank is willing to invest in Iraq.
We usually don’t see this kind of support from a global bank unless there is serious stability in a country’s financial system. The article is titled “TO BOOST THE ECONOMY, THE INTERNATIONAL DEVELOPMENT BANK IS THE OFFICIAL SPONSOR OF THE IRAQI BUSINESS SUMMIT.” The International Development Bank announced its official sponsorship of the Iraqi Business Summit (IBS).
The summit will be held on Saturday, April 12, 2025, in Celebration Square-stage Al-Mansour Downtown Baghdad. The summit will be held with broad participation from local and international economic institutions and investment companies. I would have to even call this a “WOW!” article.
More of the same….
😊If all this news about investors potential investors finally pouring into Iraq is not good enough for amazing news, they lets look at the article titled “AN ECONOMIST PROPOSES A WAY TO TRANSFORM IRAQ INTO AN “ACTIVE REGIONAL PLAYER.” An economic expert has proposed a practical way to transform Iraq from what he calls a “field of influence” into a “power” and an “active regional player” in the worlds of politics and economics.
Economic expert, Manar Al-Obaidi, pointed out in a post on his social media account that, “At a time when countries around the world, whether allied or hostile, are rushing to win the favor of the Donald Trump administration. The economic expert believes that “the use of Iraq as
a bargaining chip is no longer limited to the Iranian side.
Arab and Turkish parties have also entered the fray, and various Iraqi issues are sometimes managed as part of understandings or escalation deals between regional powers and the United States.”
Iraq has a rare opportunity to transform from a mere arena of influence into an effective regional player, if it makes good use of its economic tools. One of the most prominent of these possible tools is the proposal to establish an Iraqi-American investment fund, financed by the export revenues of no less than 100,000 barrels of oil per day, sold directly to the United States.
These revenues would be allocated exclusively to investment in the American market, forming the nucleus of a sovereign fund capable of generating long-term profits for the Iraqi state.”
According to Al-Obaidi, “developing this fund and enhancing its investments would create mutual economic interest with the United States and transform Iraq into a political force with regional influence, linked by long-term strategic economic relations, rather than remaining a tool in the hands of negotiators at a table to which it is not invited.”
So, if we are smart we don’t even had to read between the lines of what is going on in Iraq. Instead, it is blaring us right in the face. Oh boy! If you can’t see what is coming after today’s Newsletter I can’t help you. Let me explain. It took a business man like Donald Trump to see the potential in Iraq for American companies but also, which is most important, to take advantage of it. But Trump knows that before he can convince American companies to come to Iraq, he must erase the stigma of Iranian influence in Iraq. Do you get it now, why the emphasis on cleaning out Iran from Iraq all of sudden? Do you see why now? This should have been done a decade ago. I will go a step further and say it was through many U.S. administrations and BAD FOREIGH POLICIES filled with corruption that led to Iran entering and abusing Iraq in the first place. Iraq back then counted on the U.S. to help is and it didn’t. Now, like so many other issues, this must be reversed. From my Newsletter today we get a really good clear look at where the Trump foreign policy towards Iraq is going and its all VERY GOOD!
Again, I am going to also bring up the “Development Road Project”, the port of Faw and the interconnected system of roadways and rail lines being constructed throughout Iraq. What the hell do you think this is all for? You can go re-read my Newsletter dated April 3rd in the Archives for more info to refresh your memory.
