😊The other article on this topic of VISA and Mastercard is titled “THE CENTRAL BANK SETS A DATE FOR OPENING A NEW BANK IN THE US AND RESOLVING THE VISA AND MASTERCARD CRISIS.”
The Central Bank Governor Ali Al-Alaq confirmed on Saturday (April 26, 2025) that an agreement had been reached to open another bank in the United States to establish relations with Iraqi banks in money transfer operations.
“The Central Bank aims to resolve the problem of Visa and MasterCard cards abroad within the next month,” noting that “a plan has begun to be developed to issue cards specifically for small merchants.”
The Iraqi banking sector faces challenges in international transactions, particularly regarding the use of electronic payment cards abroad, due to regulatory restrictions and global financial compliance requirements.
Please watch the news when US Treasury secretary Bessent talks. When he talks, I listen! he is giving clues almost every day as to what is about to happen and where they are going with creating the “level playing field” for currencies.
THE CENTRAL BANK SETS A DATE FOR OPENING A NEW BANK IN THE US AND RESOLVING THE VISA AND MASTERCARD CRISIS.
Central Bank Governor Ali Al-Alaq confirmed on Saturday (April 26, 2025) that an agreement had been reached to open another bank in the United States to establish relations with Iraqi banks in money transfer operations.
Al-Alaq added in a statement followed by Baghdad Today that “the Central Bank aims to resolve the problem of Visa and MasterCard cards abroad within the next month,” noting that “a plan has begun to be developed to issue cards specifically for small merchants.”
The Iraqi banking sector faces challenges in international transactions, particularly regarding the use of electronic payment cards abroad, due to regulatory restrictions and global financial compliance requirements. The Central Bank of Iraq has been working for some time to strengthen banking relations abroad and open new channels to improve financial transfers and ensure smooth transactions for businessmen and citizens, as part of broader efforts to reform the banking system and bring it in line with international standards.
(This news is NOT all about the RVso let’s not go off half-cocked. However these U.S. banks could come in handy to exchange the IQD when the time comes.)
😊In this same regard is article titled “IRAQ STOCK EXCHANGE TO JOIN TABADUL DIGITAL TRADING PLATFORM” The Abu Dhabi Securities Exchange (ADX), the UAE’s largest financial market, has signed an agreement with the Iraq Stock Exchange and the Iraqi Securities Commission (ISC), paving the way for Iraq to join the regional digital trading platform, Tabadul. The signing ceremony was held at ADX headquarters on Tuesday.
These two last articles reflect yet more effort on the Stock Market. If you recall this is one of the vital Pillars of Financial Reform and will pave the way back to FOREX.
Clarity on the VISA and Mastercard saga:
Next, I want to bring news about the Iraqi VISA and Mastercard saga. What is the importance of these cards? There are two articles in today’s news concerning the management of these cards.
If you recall for these cards, once the CBI began the de-dollarization effort, quickly became a source of withdrawing cash in dollars from the cards and funneling the dollars to Iran.
Not good! The Iranian loyalist inside Iraq will do anything to be loyal to Iran. This had to be stopped as part of the money laundering schemes yet travelers still needed the cards as well as in country Iraqis for electronic payment options. The CBI had to find a solution and did find one. These next two articles are about the solutions and when they kick into effect. This is important for Iraq for establishing how they handle money internationally so pay attention.
😊The first article titled “CENTRAL BANK: VISA AND MASTERCARD CARD ISSUE ABROAD TO BE RESOLVED NEXT MONTH” tells us the Central Bank Governor Al-Alaq announced on Saturday that the issue of Visa and MasterCard cards abroad will be resolved within the next month. He explained,
“When we headed to organize this process, it required a set of procedures that must be worked on, so that we put it in its correct direction and according to acceptable standards, and therefore there were some stops and some changes in the paths.”
Al-Alaq said, “An agreement was reached with all concerned parties – which include “Visa” and “MasterCard” in coordination with the Treasury, the Federal Reserve, and the auditing company – on “the formulas and paths for settling these cards,” stressing that “the Central Bank has taken rapid steps in this regard, expecting to complete this task within the next month, i.e. before the scheduled date for this process, which is June 1.”
Just so you realize they are NOT using these cards with the “new” RV rate. If anyone tells you this they are crazy people and lying to you. If these cards are used outside Iraq they use the same “official” rate of the CBI if they want to pay for goods in any other foreign country. This is why the link back to the CBI is on FOREX. Get it? It is the same like if you use a US charge card in Germany. The card will take your U.S. Dollar limit and convert it to Euros.
Euros will pay the merchant…simple. The cards can never have a special rate on them. The rate comes from the CBI. So, let’s stop all this nonsense about these cards and having a new RV rate on them. This is so ridiculous it is even scary that anyone would even believe this crap, but these idiot intel gurus (like TNT Tony and Bruce) are telling you this. Yes, very sad with all the lies.
EXPERT: RESTARTING THE KIRKUK-BANIAS PIPELINE IS A STRATEGIC STEP TO STRENGTHEN IRAQ’S OIL POSITION.
Oil expert Riyad al-Nazzal confirmed in a press statement that “restarting the Kirkuk-Banias pipeline, which was built in the 1950s with a length of 880 kilometers and a production capacity exceeding 300,000 barrels of oil per day, is a step of strategic importance.”
In a press statement, Al-Nazzal pointed out that “the line has witnessed multiple political fluctuations since the tripartite aggression against Egypt, through nationalization operations, the Iran-Iraq War, the first and second Gulf Wars, and finally the international coalition’s war against ISIS.”
He added that “the pipeline is currently gaining significant importance for Iraq, strengthening its position among the world’s largest oil producers, with more than 3 million barrels per day.” He explained that it enables Iraq to avoid the risks of relying on the Turkish Ceyhan pipeline, which is affected by shifting interests and political balances with the Kurdistan Regional Government, or disturbances in the Red Sea when exporting through the ports of Basra. Meanwhile, the Syrian pipeline remains the least expensive and fastest option for reaching European markets.
Iraq has begun practical steps to restart the oil pipeline extending through Syria to Mediterranean ports, sending an official government delegation to Damascus to discuss rehabilitation mechanisms, according to a statement issued by the Prime Minister’s media office. Through this move, the Iraqi government seeks to open new routes for its oil exports amid escalating regional and international challenges affecting energy flows.
So, here is yet another article from today’s new about the decline of the dollar and a reason why. It is titled “PM ECONOMIC ADVISOR: TRAVELERS’ E-PAYMENTS FUEL IRAQI DINAR RISE”.
Iraq’s dinar continues to strengthen against the US dollar, fueled by a shift toward electronic payments and tighter foreign trade financing, Saleh attributed the currency’s recent strength to a drop in physical dollar demand, driven by expanded use of electronic payment cards, particularly among travelers.
Travelers now access dollar allocations legally through airport facilities, reducing reliance on the parallel market,” he also noted, adding that private-sector trade transactions conducted through correspondent banks at the official rate of 1,320 dinars per dollar have reinforced market stability.
Saleh further credited the Central Bank of Iraq’s recent reforms—including the dismantling of the old payment platform and the launch of compliance-based mechanisms—with reducing cash dollar demand in secondary markets. “These steps have made official payment channels more flexible and cost-effective, marking a major achievement for monetary stability and regulatory oversight.” The dinar has posted steady gains in recent days.
What else is in the news?
😊I want to bring your attention to the news about EBRD in article titled “EBRD ENABLES EXPANSION INTO IRAQ”. Why would they want to do this? Articles like this one only reinforce what we already know about the future of Iraq. It is going to be a financial powerhouse. 😊 Could this also help in full accession to the WTO? Of course it will. What do you think? 😊 Just yet another event where we shake our heads and ask – where is the RV? So, what is the EBRD and why so important for Iraq?
The European Bank for Reconstruction and Development (EBRD) has amended its statutes, enabling it to expand operations into sub-Saharan Africa and Iraq.
According to a statement from the bank, this pivotal change redefines the Bank’s geographic remit and follows approval by its Board of Governors in 2023. The amendment will formally take effect in three months.
The move sets the stage for Iraq to become a full country of operation, alongside several sub-Saharan nations. Iraq, along with Benin, Côte d’Ivoire, and Nigeria, has already joined as a shareholder, while Senegal, Kenya, and Ghana are currently undergoing the membership process.
It paves the way for our governors to grant recipient status to countries in sub-Saharan Africa and Iraq, which will enable us to start operations in our first countries in the region.” The EBRD currently has 75 national shareholders, in addition to the European Union and the European Investment Bank. WOW! This is all related to Iraq getting back on the global stage.
