💢💢💢IQD RV 💢💢💢: THE PROCESS OF DE-DOLLARIZATION

 💢💢💢IQD RV 💢💢💢

The de-dollarization process in Iraq has advanced significantly since early 2024, with the Central Bank of Iraq (CBI) implementing a series of measures to reduce dependence on the US dollar in the national economy.​

🏦 Restrictions on dollar transactions

Since January 1, 2024, Iraq has banned cash withdrawals of US dollars. This measure seeks to combat the illicit use of the country's currency reserves and prevent the evasion of international sanctions, especially towards Iran. It is estimated that up to 50% of the $10 billion that Iraq imports annually in cash from the New York Federal Reserve was misused.​

💱 Internal transactions in dinars

Furthermore, the CBI has established that all domestic commercial transactions must be carried out in Iraqi dinars, with the exception of those intended for travelers. This policy aims to control the general price level and reduce inflation, which has been a key indicator of the effectiveness of monetary policy.​

presstv.co.uk

🏦 Restrictions on banks and payment signatures

In February 2025, the CBI banned five local banks from carrying out transactions in US dollars, as part of efforts to combat money laundering and dollar smuggling. These restrictions also applied to three payment services companies.​

Reuters

📉 Official exchange rate vs. parallel market

Despite these measures, the exchange rate of the Iraqi dinar against the US dollar in the parallel market remains above the official exchange rate. This indicates that, although the CBI policies have had some impact, challenges still remain in the effective implementation of de-dollarization.​

In summary, Iraq has taken significant steps toward dedollarization, but continues to face challenges in implementing these policies.​

MARKZ: BANKS ACCEPTING IQD, VND, IDR : To me this is a great sign we are very close!! #iraq #iqd

 

US Bill to Sanction Iraq for Importing Iranian Gas

 US Bill to Sanction Iraq for Importing Iranian Gas

By John Lee.

A group of Republicans in the US Congress have introduced a bill to provide for the imposition of sanctions with respect to the importation of natural gas from Iran by the Government of Iraq.

Bill H.R. 2574 -- the "No Iranian Energy Act" -- has been referred to a number of committees, including the Committee on Foreign Affairs.

The full text of the bill can be read here.

(Source: US Congress)

💢💢💢IQD RV💢💢💢 : The Role of filscoin and its interaction with Iraqi dinar notes!!

💢💢💢IQD RV💢💢💢

The Role of filscoin and its interaction with Iraqi dinar notes

🪙 What is the FilsCoin?

It is a digital currency backed by the Iraqi dinar, launched at the initiative of the Central Bank of Iraq. It is not a speculative cryptocurrency like Bitcoin, but rather a stable digital asset (stablecoin), pegged 1:1 to the value of the physical dinar. It runs on a blockchain-based infrastructure, allowing for more transparency, traceability and security.

💵 How do they interact with the physical dinar?

Users can convert physical dinar bills to FilsCoin through authorized banks, digital ATMs or banking apps.

That conversion can go both ways: you can convert your FilsCoins back to physical bills if you need to.

2. Complementary circulation

FilsCoin facilitates digital payments, especially in urban areas, stores, transport apps, invoices, etc.

Meanwhile, the physical dinar remains dominant in rural areas or where digital infrastructure is limited.

3. Reduction of the informal economy

By promoting digital transactions with FilsCoin, the use of unregistered cash is reduced. This limits tax evasion and increases economic transparency.

4. Support for monetary policies

The Central Bank gains more control: it can monitor the flow of money, adjust liquidity more precisely, and combat money laundering or illicit financing.

It can also have a more direct influence on the supply of FilsCoin than on the banknotes in circulation.

It may also have a more direct influence on the supply of FilsCoin than on the bills in circulation.

🔁 Practical example.

Imagine that a citizen receives his salary in FilsCoin in his digital wallet. 

He can pay directly with that at the supermarket, online or even pay utilities.

 If he needs physical bills, he goes to the bank teller or an exchange point to get traditional dinar.

Bank screens are showing the new rates going up in value: IQD: $5.23 VND: $3.89 on Wed #iqd #iraq

 

IRAQ NEWS HEADLINES: THE Iraq-US strategic partnership

 IRAQ NEWS HEADLINES

Iraqi Prime Minister Mohammed Shia al-Sudani met with the Commander of the US-led international coalition forces to combat ISIS in Iraq and Syria, Gen. Kevin Leahy on Thursday, discussing security developments and ISIS movements in the region - statement : PM office

--

The meeting also covered strengthening cooperation as Iraq and coalition states transition to bilateral security ties, enhancing training, intelligence-sharing, and reaffirming the Iraq-US strategic partnership — with a shared commitment to combating terrorism and promoting peace, security, and regional stability.

💢💢💢IQD RV 💢💢💢: KEY MEASURES TO STRENGHT THE NATIONAL BANK & CURRENCY SINCE 2024

 💢💢💢IQD RV 💢💢💢

Main news from the Central Bank of Iraq (CBI) until April 2025:​

🏦 Restructuring of the banking sector

CBI Governor Ali Mohsen Al-Alaq announced the start of the second phase of the banking sector restructuring plan. This stage focuses on the modernization of state banks, the creation of digital banks and the strengthening of financial inclusion. In addition, the creation of the "Green Bank" was highlighted, aimed at financing renewable energy and sustainability projects.

iraqnewsgazette.com

💵 Issuance of bonds and currency reserves

In April 2024, the CBI launched "Enjaz" bonds worth 1.5 trillion dinars with interest rates of up to 8.5%. These bonds seek to finance the national budget and encourage public investment. Additionally, in January 2025, foreign exchange reserves were reported to have reached an all-time high of over $99 billion.​

ina.iq

🌐 International collaborations

The CBI has strengthened its relations with international institutions. In February 2025, meetings were held with the US Treasury Department and Federal Reserve in Dubai, where Iraq's progress in banking sector reform was praised. The improvement in the distribution of the US dollar and the alignment of foreign transfers with international standards was highlighted.​

ina.iq

🏢 Progress in the new headquarters

The new CBI headquarters, designed by Zaha Hadid, is under construction in Baghdad. With a height of 172 meters and 37 floors, it is expected to be inaugurated in 2025. This skyscraper will become the tallest building in the capital and symbolizes Iraq's commitment to architectural and financial modernization.​

💱 Dedollarization policy

Since January 1, 2024, Iraq has implemented a policy prohibiting the cash withdrawal of US dollars. Dollar deposits can only be withdrawn in Iraqi dinars at the official exchange rate. This measure seeks to reduce dependence on the dollar and strengthen the national currency.