The Iraqi Bank for Trade announced on Tuesday the availability of the cash deposit service (free) through ATMs to its bank card holders, indicating that this aims to simplify procedures and provide faster and easier services to citizens.
The bank’s media advisor, Aqeel Al-Shuwaili, said in a statement reported by the official news agency, and seen by “Economy News”, that “the cash deposit service is available to the holders of the bank’s (Visa, Mastercard) cards issued in the Iraqi dinar currency only,” pointing out that “the service is free and does not require any additional fees.”
Al-Shuwaili explained that “the upper limit for one deposit is 5,000,000 Iraqi dinars, provided that the number of banknotes does not exceed 150 sheets, while the upper limit of the monthly deposit is 13,200,000 Iraqi dinars,” pointing out that “other deposits made through the bank’s mobile phone application or through the branch cashier are counted within the specified monthly ceiling.”
He pointed out that “the cash categories accepted through ATMs are: 10,000, 25,000 and 50,000 Iraqi dinars,” calling on customers to “withdraw the receipt of the transaction after deposit, including its details, as well as sending a notification of the deposited amount to the customer’s email.” He stressed that “the cash deposit service is available through ATM machines in the following locations:
* Main Branch: Al-Harithiya – Al-Kindi Street – Building No. (4). * International Zone Branch: Legislation District – Green Zone – Locality 228. * Al-Mansour Branch: 14 Ramadan Street – Adjace to Shamisani Restaurant. * Tahrir Branch: Al-Rasheed Street – Building No. (11) – Next to the Artists Syndicate. * Erbil Branch: Waziran – Zakros Street – Opposite Sami Abdul Rahman Park. * Hibet Khatun Branch: Al-Azamiyah – Omar Bin Abdulaziz Street. * Al-Sadiya Branch: Al-Alwa Street – Opposite SAS Toyota. * Pool Branch: Al-Karrada – Pool Intersection – Near Degla Village.
GOLDILOCKS: SPECIAL REPORT: New currency changes announced in Iraq and Vietnam
Summary
In the latest broadcast from Goldilocks Global Banking News, host Freedom Fighter delivers insightful updates on the banking systems of Iraq and Vietnam, particularly concerning their integration into the global financial landscape.
The video emphasizes the significant developments in both countries regarding their monetary policies, with Iraq establishing a more complex relationship with foreign currency through its stock exchange and Vietnam’s commitment to transparency concerning its currency valuation practices.
In Iraq, major steps have been taken to modernize its financial services by the Sama Baghdad exchange, which has recently announced the initiation of electronic trading platforms for securities and foreign currency exchanges. This move signifies Iraq’s readiness to align its financial practices with international standards, as it prepares to connect with global stock exchanges. Notably, the announcement emphasizes a shift towards facilitating foreign currency exchanges among domestic companies.
On the other hand, Vietnam’s Central Bank is responding to pressures from international entities like the International Monetary Fund (IMF), committing to avoid the competitive devaluation of its currency, the Vietnamese Dong. The central bank aims to enhance transparency in its exchange rate policies and allow the Dong’s value to reflect market conditions instead of being strictly controlled by the central bank. This commitment, especially in light of external pressures such as tariffs from the U.S., aims to stabilize Vietnam’s economy and foster better international trade relations.
Both countries are navigating crucial economic reforms that could impact their standing in the global market. The video concludes with a reminder of ongoing negotiations between Vietnam and the U.S. regarding currency policies as part of aligning more closely with international trade norms.
Highlights
📈
Iraq’s Stock Exchange Expansion: Introduction of electronic trading platforms signals Iraq’s readiness to modernize its financial market.
🌍 Integration into Global Financial System: Iraq is preparing its stock exchange for connections with global financial centers like Wall Street.
💱 OTC Platforms for Currency Exchange: The implementation of OTC trading in Iraq enhances foreign currency transactions among local businesses.
🚫 Vietnam’s Commitment to Non-Devaluation: Vietnam pledges to cease competitive devaluation of the Dong, aligning with IMF advice.
🔄 Market-Driven Currency Valuation: Vietnam plans to transition to market-based valuation of its currency to increase economic stability.
📊 Impact of External Pressures: U.S. tariffs are influencing Vietnam’s monetary policies, pushing for changes in currency handling.
🔗 Shift towards Digital Banking: The integration into a new digital banking system is touted to eliminate the potential for currency manipulation.
Key Insights
🌐 Financial Interconnectivity: Iraq’s introduction of electronic trading platforms for foreign currency and the establishment of OTC trading systems indicates a profound shift towards a more interconnected and modern financial environment. This signifies Iraq’s intent to not only enhance local financial transactions but also to establish conducive pathways for foreign investment and trade.
📈 Imminent International Standards: The move towards allowing the Iraqi dinar to transact with other currencies on the stock exchange is a clear indicator of Iraq preparing to meet international financial standards, which could pave the way for greater foreign investment and participation in global markets.
🌏 Transparent Monetary Policies in Vietnam: Vietnam’s commitment to avoiding currency devaluation and improving transparency reflects a strategic pivot to boost international confidence in its economy. By ensuring that the Dong’s value is determined by market factors, Vietnam aims to stabilize its economic narrative in global financial discussions.
💡 Influence of the IMF and Global Relations: The involvement of the IMF in conducting an article 4 consultation demonstrates the global emphasis on adhering to sound monetary practices, illustrating how international organizations can influence national policies for improved economic health. This also reinforces the interconnectedness of global economies, particularly in times of economic negotiation.
🚀 Future of Currency Values: As mentioned, the advent of a new digital banking system heralds a potential end to previous currency manipulation practices, suggesting a future where currency values reflect actual market conditions. This could foster greater economic stability and equitable trading conditions globally.
🏦 Underlying Economic Pressures: The influence of tariffs and other external economic pressures on Vietnam highlights the necessity for the country to make changes that align with both international expectations and market demands. This dynamic poses risks but also opportunities for economic evolution.
🪙 Long-Term Negotiation Outlook: As the video indicates, ongoing negotiations between the U.S. and Vietnam regarding currency valuation policies are in progress. The outcomes of these negotiations will significantly impact not only bilateral relations but also the broader economic landscape in the Asia-Pacific region.
Overall, the updates shared in the video signify transformative changes in the banking and currency practices of both Iraq and Vietnam, reflecting a broader trend towards transparency and integration into the global economy. These developments suggest a bright future for both countries, provided they navigate the challenges presented by international relations and market dynamics effectively.
Prime Minister Mohammed Shia Al-Sudani confirmed on Wednesday (April 16, 2025) that Iraq needs bold and comprehensive reforms, announcing its candidacy for the upcoming parliamentary elections.
Al-Sudani said in a speech during the ninth Sulaymaniyah conference and followed by “Baghdad Today”: “I will run for the elections on time, which has been determined, and the government is committed to preparing all its obligations, and the elections are an opportunity to support a reform project for Iraq.” “The real value of any reform is to reach the poor and marginalized groups and save them from the clutches of poverty, and it is unacceptable that political competition should turn into employing the vocabulary of defamation and blurring the facts about government performance,” he added.
The Prime Minister added that “the Arab summit is an important event befitting Iraq,
noting that he issued an official invitation to Syrian President Ahmed Al-Shara to attend the summit in Baghdad.”
He continued: “We have sougued from the first day to take responsibility for Iraq to be first, especially since our people have lived many years of oppression, pressure and bearing the burdens of adventures and attacks,” pointing out that “the country is entering today the second quarter of the twenty-first century and it is full in every corner of its parts with a unique success story, and in every Iraqi city there is a restless service and urban workshop.” Al-Sudani explained that “youth are our first weapon to face the challenges of the future, and infrastructure has grown in all cities of Iraq, and inherited lagging projects have decreased to less than 850 projects after they were counted in the thousands,” noting that “the government is continuing to establish the elements of the strong state, and that Iraq is ready to be a reliable partner and a contributing and effective element in regional stability.” With regard to energy, the Prime Minister pointed out that “the government has embarked on the highest production plan for the construction of power plants and entering for the first time in solar energy and clean and renewable energy projects, and the rate of stopping the burning of gas exceeded 70 percent.” The work of the ninth Sulaymaniyah Forum was launched on Wednesday, with the participation of Prime Minister Mohammed Shia Al-Sudani, at the American University of Sulaymaniyah.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Blessed Wednesday evening all
Member: Are you surprised we are still waiting Mark? I sure didn’t think back in January we would still be sitting here in mid April.
MZ: I am very surprised that we are still waiting. But things look to be very close.
MZ: There are no updates on bonds….that I am allowed to discuss.
MZ: Bank stories really do give us hope for timing…..and I love this one …..here we go.
MZ: My son was not a believer in the IQD…but he is now. My son is a day trader…..and as plugged into the traditional system as you can get….. “Here is what he texted “ I noticed lots of movement in the market and IQD values on the trading views( MZ: in other words- he was looking at the screens and saw this) IQD values are going kooky …so I reached out to a friend at a bank 9 an old friend and empoyer) and asked what is going on? The response from the banker was this” You should definitely get some…Hold some dinar….keep it close by…I believe very soon it will be exchanging…I am serious.” .
MZ: So now her son is a believer. I did not give that story verbatim so as not to get anybody into trouble. It is so nice when doubters and family members get that verification. It just feels good.
Member: We love Bank stories.
Member: has all of tier 3 been paid?
MZ: No….not all of tier 3 has been paid…yet.
Member: I hope you all get some rest and are ready for an action packed weekend…..we hope. .
Mod: SEE YA LATER FOLKS...SEE YOU IN THE MORNING OR ON NEXT PODCAST...
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
Shafaq News / The head of the Cabinet of the Kurdistan Regional Government Council of Ministers, Omid Sabah, revealed on Wednesday, an important meeting to be held next Saturday between the federal government and the Kurdistan Regional Government to discuss the region’s oil export file, in the presence of representatives of oil companies operating in the region.
Sabah said during a press conference attended by a reporter of Shafaq News Agency, that “the oil export file is receiving great attention from the regional government, and it has fulfilled all its obligations related to this file,” expressing his hope that things will go in the right direction during
the next phase.
With regard to the file of the formation of the tenth ministerial cabin in the Kurdistan Region, the head of the Cabinet explained that “the political delegations reached during their previous meetings important understandings that will facilitate the process of forming the government in the next phase.”
He pointed out that “the next phase will see subsequent steps to open up to other parties with the aim of forming a strong government capable of facing existing challenges.”