THE MAJORITY OF IRAQ’S FINANCIAL ASSETS ARE IN US DOLLARS. AL-SUDANI’S ADVISOR DISCUSSES LINKING IRAQI BANKS TO US BANKS.
On Wednesday, April 30, 2025, Mazhar Mohammed Salih, advisor to the Prime Minister for Financial Affairs, spoke about the repercussions of linking Iraqi banks to American banks.
“As long as Iraq is within the dollar zone like other OPEC countries, with the US dollar constituting the majority of its financial assets from oil revenues, it is in our country’s interest to deal equally with the US commercial banking system as a global correspondent power for national banks, especially when dealing with more than one US bank operating globally (Global Bank) that has major global branches and arms, ” Saleh said in a press statement followed by Al-Jabal.
He pointed out that “the Central Bank of Iraq’s efforts to link national banks with major banks and financial institutions in the United States, with more than one bank that enjoys international standing, is an important means of providing economic stability and improving the investment, trade, and development climate in our country through integration with the dollar trade, banking, and investment zone, which remains one of the strongest and most important monetary zones in the world.”
He stressed that “reducing the costs of foreign banking transactions requires direct banking cooperation with more than one American (Global) bank, and that the Central Bank of Iraq is moving in the right, open, and rapid direction in assessing its priorities to serve the stability of the national economy at the level of foreign banking transactions and implementing them with the required speed and high guarantees.”
He pointed out that “the second American bank is responsible for providing opportunities for Iraqi banks as a global correspondent bank with multiple branches and operations to quickly implement banking operations, whether in transfers or financing foreign trade for our country’s markets, without obstacles and with transparency and high governance. In addition, it provides financing and credit lines for trade and investment in Iraq, as well as benefiting from digital banking services and highly advanced international standards, which will bring our national banks to the required global level. These are factors that encourage the investment and business climate in our country at the same time, in the midst of integration and cooperation with the international banking system.”
Confirmed on Live TV – Announced Exchange Rate: $6.02! – Take Advantage!🔊
Highlights
Summary
Here are reports on the officially confirmed revaluation (RV) of the Iraqi dinar, now pegged at an astonishing exchange rate of $6.02 per dinar.
This landmark announcement marks a seismic shift in the global perception of Iraq’s economy, an event widely broadcasted by major news outlets and attended by key Iraqi officials, financial stakeholders, and international advisors.
As a result of this historical event, dinar holders are witnessing significant financial changes, with many seeing returns of three to four times their original investment.
The speech by Iraqi Prime Minister Muhammad Shia al-Soududani underscored the RV’s implications for Iraq’s sovereignty and fiscal independence, signaling a renewed national confidence. The report emphasizes the importance of being cautious as dinar holders navigate this change, urging them to plan meticulously before exchanging their currency—a process that may involve legal procedures and documentation.
Additionally, the launch of a Central Bank Digital Currency (CBDC) named the digital dinar is discussed as an innovative step into a modern financial landscape, aimed at enhancing transaction security and efficiency.
The international financial community, including the IMF and various governments, is closely monitoring Iraq’s signature move, reflecting cautious optimism about its potential impact on the global economic stage. The video ends by reminding dinar holders to remain informed and strategic as they adjust to this transformative period, emphasizing the need for careful financial stewardship.
🌍 Historic Announcement: The Iraqi dinar is officially revalued at $6.02, a figure that exceeds previous market expectations.
📈 Investment Returns: Many investors are seeing substantial returns on their dinar holdings, with values reportedly rising three to four times.
🏛️ Prime Minister’s Speech: Al-Soududani heralds this RV as a pivotal moment for Iraqi sovereignty and economic strength.
⚖️ Caution Advised: Investors are urged to approach currency exchanges methodically,
understanding potential legal and tax implications.
🔗 Introduction of Digital Dinar: A new Central Bank Digital Currency to streamline transactions and promote financial transparency in Iraq.
📊 Global Response: Mixed but generally optimistic reactions from the international community, highlighting Iraq’s newfound economic standing.
🤝 Call for Responsibility: Emphasis on prudent financial management and planning as the dinar holders navigate newfound wealth.
Key Insights
💡 Market Disruption: The immediate market reactions to the RV announcement showcase the interconnectedness of global finance, highlighting how significant shifts in one nation can create waves across various financial institutions worldwide. The RV’s confirmation rippled through trading platforms in major financial hubs almost instantaneously, suggesting a highly reactive global economic environment where investors are alert to developments in emerging markets.
🌟 Economic Rebirth: The symbolism behind the dinar’s RV transcends mere financial evaluation; it embodies Iraq’s journey towards stability and growth after years of economic turmoil. This pivotal moment not only signifies a numerical increase in currency value but also represents a collective triumph for the Iraqi people, instilling a sense of pride and renewed hope for a brighter economic future.
📚 Long-Term Implications: The RV’s introduction, especially at the stated rate of $6.02, disrupts previous economic forecasts and places Iraq on a renewed trajectory for international investment. This revaluation may attract foreign interest and bolster Iraq’s economic partnerships, enabling Iraq to strengthen ties within the global market and solidify its position as a key player within the Middle Eastern economy.
🔍 Cautions for Investors: The video emphasizes a critical note of caution, advising dinar holders to thoroughly understand the legal processes surrounding currency exchange. This concept underscores the broader financial landscape where, despite rapid gains, knowledgeable financial stewardship is paramount to ensuring the longevity of newfound wealth.
🖥️ Adaptation to Digital Currency: The launch of the digital dinar represents a substantial leap into modernity, facilitating quicker transactions and greater transparency in financial dealings. The anticipated introduction of CBDC hints at a broader move towards digital economies globally, fostering efficiency that allows Iraq to remain competitive in the 21st-century finance arena.
🌐 International Relations: The reactions from major global powers, including cautious optimism from the U.S. and enthusiasm from European nations, reflect not only the dinar’s potential economic impact but also a shift in diplomatic relations tied to Iraq’s financial strategies. This indicates how economic success can rejuvenate international partnerships and stability within a geopolitical context.
💼 Responsible Wealth Management: Throughout this unprecedented financial shift, the onus is on investors to make informed decisions that reflect long-term wealth stewardship rather than short-term gains. Emphasizing the importance of strategic financial planning exposes the inherent risks associated with sudden wealth and the necessity to build lasting financial legacies.
As a whole, this monumental shift in the valuation of the Iraqi dinar is set against a backdrop of optimism and careful consideration for the future of Iraq’s economy. Investors and stakeholders are now tasked with navigating this complex and promising landscape, where patience and prudence will be critical in translating this opportunity into sustained success.
FOREIGN MINISTER: IRAQ IS COMMITTED TO PRESERVING ITS NATIONAL SOVEREIGNTY.
Foreign Minister Fuad Hussein affirmed on Wednesday that Iraq is committed to preserving its national sovereignty.
A statement by the Foreign Ministry received by (Al-Youm Al-Akhbariya) stated that “Foreign Minister Fuad Hussein held a roundtable with American media outlets at the Iraqi Embassy in Washington, D.C., to review the most prominent regional and international developments and highlight Iraqi foreign policy priorities, stressing “the Iraqi government’s keenness to strengthen partnership with the United States in the political, security, and economic fields.”
He stressed that “the government is working hard to reduce dependence on imports and enhance national capabilities in the field of energy production by diversifying international partnerships and activating new agreements with a number of countries, in addition to benefiting from global expertise in the field of renewable energy and investment in associated gas.
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He explained that “the presence of American forces falls within the framework of training and advisory support missions, and not within the framework of combat, stressing Iraq’s commitment to preserving its national sovereignty, its keenness to continue security cooperation, and preventing the return of the terrorist organization ISIS, while affirming non-engagement in any regional conflicts.”
Regarding the humanitarian situation in Gaza, he reiterated “Iraq’s firm position in support of calm efforts and its rejection of targeting civilians, stressing that stability in the region will not be achieved without reaching a just and comprehensive settlement.” for the Palestinian cause.”
The meeting also included discussions on developments in the nuclear negotiations with Iran, Iraqi-Syrian relations, and the importance of supporting efforts to combat terrorism and extremism in the region. In this context, according to the statement, he stressed “Iraq’s endeavor to play an effective and balanced role in its Arab and regional environment, based on the principles of mutual respect and common interests.”
TRUMP RECEIVES RECOMMENDATION TO EXTEND US FORCES IN IRAQ UNTIL 2029
Trump receives recommendation to extend US forces in Iraq until 2029Shafaq News/ The New Line Institute, an American think tank specializing in political and military affairs, recommended that the Trump administration extend the presence of US forces in Iraq until 2029, warning of the danger of a sudden withdrawal to the capabilities of Iraqi security forces and efforts to combat ISIS.
The website stated in a report translated by Shafaq News Agency, “Following a sharp regional escalation that severed ties with Iran and its proxies in the Middle East, the United States finds itself in a new strategic position in Iraq and Syria, where Iranian influence and capabilities have suffered a severe blow. With the rapid and sudden departure of the Assad regime, allied with Tehran, and the retreat of the Islamic Revolutionary Guard Corps units and forces loyal to it during Israeli strikes, new opportunities loom for American interests in the region.”
The report added, “With Iran’s grip on Damascus and Baghdad weakening—as evidenced by a sharp decline in Iranian and Iranian-backed militia strikes on US assets and partners—the United States and its partners in the Global Coalition to Defeat ISIS face fewer distractions and more room to improve the capabilities of their local partners.”
ISIS is lurking in Iraq
The report indicated that “ISIS fighters have increased their momentum in the Syrian desert in preparation for a return across the border into Iraq, a concern that has prompted the Iraqi federal government to sound the alarm and seek a long-term security partnership with the United States.” It explained that “Baghdad has already expressed initial interest in extending the US timetable for military withdrawal from Iraq, adding three years to the already vague withdrawal plan to hedge against Iran and sudden instability.”
He continued: “The United States has long viewed the rapid timetable for withdrawal from Iraq as an opportunity for Iran, ISIS, and other malign regional actors, jeopardizing regional stability and human security. Washington also has a difficult history with hasty withdrawals from counterterrorism missions.”
He noted that “decision-makers are still haunted by memories of the failed withdrawal from Afghanistan in 2021, in addition to the fact that just three years after US forces concluded their combat mission and withdrew from Iraq, they found themselves returning to the country to fight a new terrorist organization that exploited the vacuum left by US forces.”
He explained that “the second Trump administration represents the beginning of an ambiguous chapter for the American forward presence in the Levant. The new administration has repeatedly expressed its desire to transfer responsibility for regional security in the Middle East to its partner, Israel, and to carry out an immediate military withdrawal. Given its skepticism about the usefulness of a small American forward presence in Iraq and Syria for Washington’s interests, it is likely that President Donald Trump will authorize a rapid withdrawal of American forces from Iraq and Syria.”
The report stressed that “policymakers in Washington and their partners abroad must assess the scenarios that will unfold following the US withdrawal, including how civilian and military missions outside the international coalition, such as the NATO mission in Iraq, will be able to survive on their own, how local forces such as the Iraqi Security Forces and the Syrian Democratic Forces will be able to repel threats from ISIS and pro-Iranian militias without US assistance, and how external actors may seek regional competition or political influence in place of a long-term US presence and partnership.”
Recommendations to stay
The report recommended that Washington seek to “diversify its security influence in Iraq beyond its military presence and capacity-building efforts with Iraqi military forces, and seek to revive cooperation in law enforcement, counternarcotics efforts, border security initiatives, and other areas of coordination.” It noted that “facing a potential US withdrawal from Iraq and Syria or an extension of the withdrawal schedule until 2029, NATO and the European Union should coordinate with Iraqi security forces to develop a strategy for their future presence in Iraq and identify gaps that their missions can fill as the fight against ISIS draws to a close.”
He noted that “with the possibility of withdrawal, the United States should seek greater coordination with other military and civilian capacity-building missions, such as the NATO mission in Iraq and the European Union civilian mission in Iraq, as a sudden US military withdrawal would make these operations vulnerable without careful planning.” He explained that “NATO and the European Union should engage in multilateral discussions with the US government, the Iraqi government, and the Kurdistan Regional Government to develop a strategy for their presence in Iraq in the wake of a potential US withdrawal.”
The US report concluded that, “With ISIS attacks and activity increasing since the fall of President Bashar al-Assad’s regime in December 2024, the United States should encourage the Kurdistan Regional Government and the Iraqi federal government to cooperate with the new Syrian administration and the Hashemite Kingdom of Jordan to increase cooperation on counterterrorism, intelligence, and security, in anticipation of the possibility of ISIS infiltration from the Syrian desert into Iraq and possibly Jordan.”