TIDBIT FROM HENING

  Henig  

Vietnam looks like they're changing their currency from a top-down government-mandated price to allowing the market to discover true value and THEN set the price naturally.

MARKZ: Rates would fluctuate between $4.05 to $5 on the dinar!! @DINARREVALUATION #iraqidinar

 

Kurdistan PM Welcomes U.S. Delegation, Discusses Religious Freedom, Unity, and Political Progress

   Kurdistan PM Welcomes U.S. Delegation, Discusses Religious Freedom, Unity, and Political Progress

4/23/2025  ERBIL —

Kurdistan Region Prime Minister Masrour Barzani on Wednesday, April 23, received a high-level U.S. delegation led by Riley Barnes, the Deputy Assistant Secretary for Democracy, Human Rights, and Labor at the U.S. Department of State.

The meeting, attended by U.S. Consul General in Erbil Steve Bitner, emphasized America’s continued engagement in the Kurdistan Region and began with the delegation expressing their appreciation for participating in Kurdistan’s National Prayer Breakfast Day.

A key focus of the discussions was the Kurdistan Region’s commitment to peaceful coexistence and religious freedom. PM Barzani and the delegation explored the current state of interfaith harmony in the Region, which has long been recognized as a safe haven for religious and ethnic minorities amid regional unrest.

The talks also highlighted pressing political developments, particularly the urgency of forming the new Kurdistan Regional Government (KRG) cabinet. Both sides underlined the importance of resolving internal political issues swiftly to maintain stability and continue development.

In addition, the conversation touched on the timely resumption of oil exports from the Kurdistan Region—a matter with significant implications for both regional economics and Erbil-Baghdad relations.

This meeting underscores the continued strategic partnership between the United States and the Kurdistan Region, particularly on issues of governance, human rights, and religious pluralism.   LINK

Iraq’s Banking Sector Reboot: Sweeping Reforms by the Central Bank

 Iraq’s Banking Sector Reboot: Sweeping Reforms by the Central Bank

The Central Bank of Iraq (CBI), with full government support and in partnership with global consulting firm Oliver Wyman, has officially launched a far-reaching reform program for the country’s private banking sector. The aim is to bring Iraq’s banks in line with international standards, modernize infrastructure, boost sector efficiency, and rebuild public and investor trust.

 This comprehensive plan is the product of collaboration between the CBI, the government, and the private sector, and it targets the creation of a resilient, innovative, and sustainable banking system that underpins Iraq’s economic development.

Key Objectives of the Reform:

• Expand and deepen financial inclusion for individuals and businesses across Iraq  

• Enhance the efficiency and productivity of private banks  

• Foster a competitive, fair banking market that can withstand financial and economic shocks

Core Reform Projects:

- Upgrade financial infrastructure, expand branch and ATM networks to improve access

- Develop digital payment systems for fast, reliable banking services

- Streamline anti-money laundering (AML) and counter-terrorism financing (CTF) compliance

- Implement a digital identity system to ensure secure customer verification

- Launch national campaigns to boost public trust and financial literacy

New Banking Standards:

Ownership & Governance:

- Caps on ownership: 10% for individuals/corporations, up to 20% by exception, 60% for institutional investors  

- Aggregated ownership rules to prevent coordinated control  

- Mandatory independent, qualified Boards of Directors; rigorous checks for executives  

- Intensive due diligence for major shareholders to ensure transparency

Business Model & Sustainability:

- Banks must develop detailed, sustainable business plans aligned with Iraq’s needs and adopt new technologies  

- Core banking services should reflect the requirements of the Iraqi economy and its citizens

Financial Metrics:

- Minimum capital adequacy ratio: 12.5%  

- Minimum liquidity coverage ratio: 100%  

- Banks must build resilience to withstand financial shocks

Risk & Regulatory Compliance:

- Full adoption of international AML/CTF frameworks  

- Greater transparency, with robust external audits and oversight of related-party transactions

Implementation Process:  

- Reform will be phased; all private banks will undergo regular evaluations  

- First compliance evaluation set for Q1 2026  

- CBI to issue formal standards, timelines, and launch workshops/technical support soon  

- All licensed banks required to confirm participation in the reform process

Strategic Choices for Banks:  

1. Internal upgrades to meet standards  

2. Mergers/consolidation with other banks for greater strength  

3. Exit the sector (sale or orderly wind-down) for those unable to comply

Impact on Iraq Stock Exchange (ISX):  

- Reforms expected to lift investor confidence, especially among foreign institutions  

- Anticipated rise in bank M&A activity, potentially increasing share prices and trading volume  

- Improved governance, making listed banks more attractive  

- Pressure on weaker banks, driving reform or exit

Conclusion:  

This ambitious reform signals a turning point for Iraqi banking. Backed by government and private sector cooperation, the CBI aims to transform the financial system—making it modern, resilient, transparent, and globally connected. 

The goal: a trustworthy banking environment supporting Iraq’s sustainable growth and opening the door to domestic and international investors.

JON DOWLING: BIG CHANGES AHEAD!!! BE PATIENT!! @DINARREVALUATION #iraqidinar #iraqidinarinvestor

 

The Central Bank of Iraq organizes an introductory workshop for the National Job Day Award

  The Central Bank of Iraq organizes an introductory workshop for the National Job Day Award 

The Central Bank of Iraq organized an introductory workshop on the National Job Day, which honors a number of innovators in various ministries and state institutions.

The workshop was attended by the Executive Director of the National Job Day Initiative at the Prime Minister's Office, Mr. Amjad Al-Khafaji, who reviewed some success stories of Iraqi state employees.

He emphasized that there are 1,275 committees distributed across all civil, military and security departments of the state, with approximately 5,000 employees working under them. They work to select inspiring success stories to be included in the National Job Day award, as the award motivates state employees to be creative.

He emphasized that the award is divided into four sections: the first is for Hope Makers, the second is for Inspirational People, the third is for Dedicated People, and the last is titled the Job Day Initiative, which is the category for state institutions for their employees.

At the end of the workshop, the Director of Women's Empowerment and Head of the Job Day Committee at the Central Bank of Iraq, Ms. Alaa Jamal, was honored.

It is noteworthy that the National Job Day Award aims to highlight the importance of public service and the role of national competencies in building the state.

 Central Bank of Iraq
Media Office
April 23, 2025

https://cbi.iq/news/view/2863

FIREFLY: " They are telling us to go and deposit our 3 zero notes at these ATM machine"

 Frank26  

[Iraq boots-on-the-ground report] 

FIREFLY:Commercials are showing the locations of the new ATMs. 

 They are telling us to go and deposit our 3 zero notes at these ATM machines and at the bank.

  They're taking the 10k, 25k and 50k notes, free deposits, for us to keep our receipts .

 FRANK:  This is what they have to do, collect as many three zeros as possible before they give them the new lower notes...This is all wonderful  news.