Iraq's Ministry of Planning held discussions with representatives of the German Agency for International Cooperation (Deutsche Gesellschaft für Internationale Zusammenarbeit; GIZ) in Iraq to explore cooperation and developmental transformation.
Key areas of focus included a joint international cooperation agreement, the establishment of offices for the German Development Bank (Kreditanstalt für Wiederaufbau; KfW)
and the GIZ in Iraq, and Germany's support for development activities across the country.
Dr. Saher Abdul-Kadhim, Director General of the Department of International Cooperation at the Ministry of Planning, emphasized that the talks aimed to enhance cooperation prospects and expand future bilateral relations.
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.
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 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.
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
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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.
