Joint Statement Of The Central Bank Of Iraq And The Central Bank Of Tunisia

 Joint Statement Of The Central Bank Of Iraq And The Central Bank Of Tunisia

 
May 25, 2025    In the context of strengthening bilateral relations and consolidating cooperation between the Republic of Iraq and the Republic of Tunisia,
 
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq,
met in the Iraqi capital, Baghdad,with His Excellency the Governor of the Central Bank of Tunisia, Mr. Fathi Zuhair Al-Nouri,  on the sidelines of the conference:
 
    “Iraq’s National Strategy for Financial Inclusion 2025-2029: Vision and Diagnosis,” 
organized by the Central Bank of Iraq.

    During the meeting, a memorandum of cooperation and coordination was signed between the Central Bank of Iraq and the Central Bank of Tunisia,
 
expressing both sides' commitment to
 
     developing joint frameworks and
     consolidating the principles of banking integration,
 
in light of the development of economic relations between the two brotherly countries.
 
    The memorandum stipulates enhancing cooperation in several areas, most notably:
 
    • Banking supervision and risk management in line with international standards.
    • Enhancing and expanding the use of electronic payment systems with the aim of supporting financial inclusion.
    • Supervising payment systems and exchanging expertise on developing their technical infrastructure.
    • Exchange of information and expertise in the areas of financial innovation, cybersecurity, and combating money laundering and terrorist financing.
 
    This visit provided an opportunity for both parties to discuss financial issues of mutual interest and explore opportunities for joint cooperation in developing the banking sector's infrastructure,
 
particularly with regard to modernizing and developing electronic payment systems and financial services.
 
This reflects both sides' commitment to
strengthening channels of dialogue and
technical and regulatory cooperation with their counterparts
in the region, the Arab world, and internationally.
 
    Through this partnership, the two sides affirmed their continued efforts to
 
      keep pace with developments in international banking and
     build strategic cooperative relations that contribute to
     achieving financial stability and
     supporting economic growth between the two brotherly countries.    
https://cbi.iq/news/view/2900 

TIDBIT FROM SANDY INGRAM

 Sandy Ingram  

 Development Road Project...$17 billion project is an ongoing infrastructure development connecting Asia with Europe by establishing a network of railways, roads, ports and cities. 

 Iraq will be changed by the DRP in 3 major ways:

 1. Diversification of Revenue beyond oil... 2.  Job creation...this employment surge will increase household incomes and stimulate domestic consumption, all of which point to a higher IQD value. 

 3.  Transportation infrastructure enhancement will reduce shipping times between Asia and Europe making Iraq a competitive alternative to traditional routes like the Suez Canal .

Here's the 3 ways the Development Road Project will increase the IQD's value. 

 1. Higher  fees from transit fees and trade will help to increase Iraq's foreign currency reserves.  This will provide a substantial foundation for the IQD.

 2. Economic diversification and infrastructure improvements can attract foreign investments increasing demand for the IQD and potentially leading to currency appreciation.  

3. A more balanced economy with multiple revenue streams can stabilize prices, contributing to a stronger and more stable currency. 

 It will also satisfy the IMF's recommendations for diversified revenue for a stronger Iraqi economy. 

HERNAN BRAVO: 🔥🇮🇶 IRAQ JUST DROPPED TWO BOMBS — AND NO ONE IS PAYING ATTENTION

 

No Seriousness In Limiting The Acquisition Of Dollar Remittances." Parliamentary Action Against The National Bank.

 No Seriousness In Limiting The Acquisition Of Dollar Remittances." Parliamentary Action Against The National Bank.

 
Economy     2025-05-24 | 05:05  2,466 views   Alsumaria News – Local  revealed The Parliamentary Finance Committee on Saturday that the  Central Bank of Iraq is not serious about curbing foreign banks' control of including Al-Ahly Bank. dollar remittances, member Finance Committee Hussein Mounes told Sumaria News, "The Iraqi banking system was founded on a very flawed foundation, as
banks are integrated exchanges and therefore do not meet any international standards that qualify them to be correspondent banks." 

He explained that  "the Central Bank was not keen on upgrading these banks in order to raise their classification so that they would be qualified to deal with international banks."  

He added,  "The Central Bank resorted to easy solutions, as usual, and did not pursue real strategic solutions,  
such as resorting to regional and foreign banks and
relying on them as they are classified in the currency auction and remittances." He explained that
 
"the Central Bank undertook four rounds of reforms that did not achieve any tangible results in raising the status of our local banks. 

Rather, the international sanctions on our banks increased due to the Central Bank's mismanagement."  

He stated that  "the Finance Committee sought to amend the banking law in the hope that Iraqi banks would have a percentage or share with foreign banks operating in Iraq,
in order to raise their efficiency and share in the profits or interest and to present the names of these banks internationally,  but the Central Bank did not respond to the proposals to amend the law." 

He explained that  "foreign banks publish their profits on their official pages,  
but there are other invisible profits that come from taking advantage of the exchange rate difference,
which are side transactions that do not appear in the final accounts of banks as financial institutions."  

He explained that  "the committee called for limiting the benefits these banks receive,
but we have not seen any seriousness from the ;Central Bank in resolving this issue," stressing the
 
"need for a real roadmap to reform the banking system and classify our local banks."  He explained that
 
"the number of banks that control the currency sales and remittance window is five,
the most prominent of which is Al-Ahly, in addition to Kuwaiti and Emirati banks, and
there are Turkish banks that will enter the market soon."      
https://www.alsumaria.tv/news/economy/527389/لا-جدية-للحد-من-الاستحواذ-على-حوالات-الدولار-تحرك-برلماني-تجاه-المصرف    

TIDBIT FROM FRANK26

 Frank26 

 What was the exchange rate in 1980?  In 1971 and 1973 of the Iraq dinar rose to $3.3778.  Shortly after that there was a 5% devaluation that reduced it to $3.2169...

They're talking about a rate that is a reinstatement rate...Logic says it should be $3.20 something IMO.

The monetary reform is biting and kicking and scratching but it's put in the position so that as soon as the gates are open, woo, everything just explodes! 

 That would be the contracts, all the investors that are being put in position so that once this blessing occurs boom!  They take off at the speed of light.

Global Currency Reset Underway: IQD: $9.35 – now activated on internal banking platforms! #iraq

 

FRANK26: "IRAQ MEETS WITH ALL OF USA DEPARTMENTS"

 KTFA

FRANK26: "IRAQ MEETS WITH ALL OF USA DEPARTMENTS".......F26

Secretary Rubio to Meet Kurdistan Region Prime Minister Masrour Barzani in Washington

By Ahora Qadi

ERBIL  – 

The United States Department of State has officially confirmed that Secretary of State Marco Rubio will meet with Kurdistan Region Prime Minister Masrour Barzani on Friday at 1:30 PM Washington time (8:30 PM Erbil time), according to the  Department’s Daily Public Schedule.

The high-level meeting will take place at the Department of State headquarters in Washington D.C., and will be followed by a joint press conference, signaling growing strategic cooperation between the U.S. and the Kurdistan Region.

This marks a significant engagement between the two allies amid intensified dialogue over regional security, energy cooperation, and the Kurdistan Region’s role in U.S. Middle East policy. The meeting comes as part of Prime Minister Barzani’s ongoing official visit to the United States, which has included pivotal talks with American officials, major energy companies, and congressional leaders.

During a House Foreign Affairs Committee hearing on Wednesday, U.S. Secretary of State Marco Rubio reaffirmed the United States' strong support for the Kurdistan Regional Government (KRG) and its right to economic development. His remarks came in response to concerns raised by Congressman Joe Wilson regarding Iranian interference in the Kurdistan Region and its impact on American energy investments.

Congressman Wilson highlighted a recent multibillion-dollar agreement between the KRG and U.S. oil companies for the exploration and development of energy resources in the Kurdistan Region. However, he warned that increasing Iranian influence over Baghdad threatens these efforts.

In response, Secretary Rubio emphasized that Kurdish autonomy remains a central pillar of U.S. policy in Iraq. “We first have made clear that the lynchpin of our approach toward Iraq is the autonomy that the Kurdish population has in that part of the country,” he said. “Part of that is allowing them the economic lifeline that enables them to prosper and succeed.”

Rubio also reiterated that U.S. support for Iraq depends on Baghdad’s respect for American companies operating in the country and for the constitutional rights of the Kurdish people. “Iraqi officials have expressed interest in a closer relationship with the United States, and we’ve explained to them that the core of that is respect for the companies operating in Iraq and respect for Kurdish autonomy,” he added.

Addressing the broader issue of Iranian influence, Rubio issued a strong warning: “Iranian influence continues to grow, unfortunately, in some sectors of Iraq’s elected government, and it poses a grave danger to the United States—including in the form of pro-Iran Shia militias, who have in the past struck against the United States and may do so again. That’s unacceptable and must be addressed.”

LINK