Wednesday, June 18, 2025
Prime Minister's Advisor: Iraq Is Qualified To Become A Regional Financial Center With Four Strategic Powers.
Prime Minister's Advisor: Iraq Is Qualified To Become A Regional Financial Center With Four Strategic Powers.
Yesterday, 13:18 Baghdad - INA - Nassar Al-Hajj The Prime Minister's financial advisor, Mazhar Mohammed Salih, identified four factors that make Iraq a regional financial center on Sunday, stressing that Iraq possesses foreign reserves exceeding $100 billion.
“There are four elements of strength that make Iraq a regional financial center, the
first of which is that it is the second largest producer of crude oil in the Middle East, and
it has the fourth largest oil reserves in the world, through which it competes to take precedence in the global energy market, through more production
and achieving financial flows
that make it a financial and economic pillar in the economic geography of the Middle East, by achieving large financial surpluses that can be directed to investment in financial infrastructure,” Saleh told the Iraqi News Agency (INA).
He stated that "Iraq has foreign reserves exceeding $100 billion, which provides it with a
significant financial safety margin, confidence in monetary stability, and high financial investment attractiveness."
He added, "The second factor is Iraq's unique geoeconomic location, which is a vital corridor linking the world's north to its south.
This represents an open economic space between global markets and their financial and commercial attractions, with links that provide important climates for the concentration of regional financial markets,
which will revolve around the strategy of the 'development project' linking Europe and the Gulf." He continued:
"The third factor is the demographic or human factor, and its foundation is the population boom, as the percentage of the population under the age of thirty is close, which makes Iraq one of the young nations.
The high percentage of youth (more than 60% under the age of thirty)
will provide a flexible human base that can be trained in
financial technology,
banking innovation,
digital technology, and
artificial intelligence."
He noted that "the government is undertaking the establishment of an important college for artificial intelligence sciences as inputs to the financial labor market and its foundations." He added,
"The fourth factor is modernizing and restructuring governance in government-owned banks,
given that they currently control 80% or more of banking activity."
He emphasized that "the reform campaign being led by the government today for the aforementioned banks aims to transform Iraq into a global financial center after ridding it of the risks of bureaucracy and inefficiency inherited over many decades."
He pointed out "the importance of electronic payments and the gradual expansion of the use of bank cards, point-of-sale (POS), collection systems, and smart wallets, which have helped achieve significant leaps in digital financial inclusion.
This is coupled with the presence of the Iraq Stock Exchange and the Securities Commission,
which operate in a robust, integrated, and promising manner as an infrastructure to establish Iraq as a regional hub for consolidating the country's institutional financial stability."
He explained that "the legal, executive, and regulatory infrastructure requirements are the key lever for enabling this transformation. These include, for example,
linking banks to effective electronic payment platforms and
supporting the development of the current National Data Center to serve as the sovereign digital financial infrastructure that supports Iraq's efforts to transform into a regional financial center."
He pointed out that "Iraq's transformation into a regional financial center will be achieved through the
collection and integration of financial, banking, and economic data,
supporting smart monetary and financial policies,
enabling financial technology and smart data analysis,
enhancing transparency and governance of financial institutions,
stimulating the non-banking finance sector, such as microfinance companies,
reforming the insurance sector, and
licensing financial technology (Fintech) companies." He pointed out that
"the current political, legal, and institutional stability that our country enjoys today,
in a prosperous and solid manner,
is the true basis for financial strength.
There is no financial center without a stable and secure political and legal environment."
Saleh emphasized the importance of building regional and international partnerships, such as
studying the importance of joining regional payment systems and financial structures of international groups such as the G20 or BRICS, or partnerships with strong financial centers in Singapore, Dubai, Hong Kong, and others. https://ina.iq/ar/economie/236406-.html
Monday Coffee with MarkZ. 06/16/2025
Monday Coffee with MarkZ. 06/16/2025
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Monday Morning and welcome to a new week of hoping.
Member: Definitely need good RV news today! Hopefully will hear something promising about exchanging...
Member: Are you as discouraged as we are Mark?
MZ: I’m not discouraged…..I think we see the end. Wish we knew how quickly Iran will wrap up. I have a number of sources who think Iran will cave and we will have resolution within the week. Then I think it is all a “GO”
Member: Do you think the Iranian rial will go at the same time as the others?
MZ: I think the rial will be in the first basket. I am feeling good about the rial going now.
Member: What about any new bond updates Mark ? thank you
MZ: I don’t have any new bond updates at all. And I just went through all my messages. Hopefully I will have updates by tomorrow.
Member: We know Monday morning are tough for news…..maybe you will hear something later.
Member: any news from Vietnam?
MZ: Vietnam has made a pretty big announcement legalizing Crypto and a big technology law that allows Vietnam to move to -what we call – the QFS. They have embraced the technology.
MZ: “Vietnam legalizes crypto under new digital technology law.” IMO Vietnam is laying the groundwork for modernization and the new financial system. I believe this is good news for all of us holding VND.
Member: Jamie Dimond has said that the dinar will be the savior of the dollar…he just didn’t say “when”
MZ: In Iraq: “Advisor to the Prime Minister: Iraq is qualified to be a regional financial center with 4 strategic powers” he is laying out the facts on the wealth and prosperity heading Iraq’s way.
MZ: “Iraq maintains its global ranking in natural resources” It is ranked 9th in the world and second for oil in the entire middle east region. Iraq will be a bridge between the east and the west via the development road.
Member: "The Iraqi Ministry of Finance announces the cessation of paper currency in all financial transactions and the adoption of electronic payment methods as sole option for payments"
MZ: That is supposed to occur before July 1st.
Member: Sudani promised the people that the revalue would be done in his time in office
Member: New Iraq elections are in November. They better hurry things up.
Member: Pimpy says Iraq will remove the zeros and we’re going to be disappointed with worthless paper.
Member: That is a lop. All other intel providers say that will NOT happen.
Member: the G7 is happening right now in Canada…Trump just arrived there.
MZ: “All eyes on Trump as G7 summit begins amid middle east tensions” They are holding this in Alberta.
Member: The G7 could be quite interesting as to what Trump says & does there..probably more deals in the making
Member: Let's Get 'Er Done. For the first time in decades, I am not watching news and just waiting for the chaos to stop. Glimpses are enough.
Member: Thanks for staying the courses Mark these years. Been an exhilarating ride
MZ: It has been an exhilarating ride…but we are ready for it to be over.
Member: Have a great day everyone……the best is yet to come
A "Time Bomb"... The Iraqi Economy Is At Risk Due To Jordanian Banks.
A "Time Bomb"... The Iraqi Economy Is At Risk Due To Jordanian Banks.
Economy 2025-06-10 | 4,697 views Alsumaria News – Economic Financial and banking expert Mustafa Hantoush described Jordanian banks' control over remittances as a "time bomb" on Tuesday.
Hantoush told Sumaria News , "The issue of Jordanian and Gulf banks controlling the current currency auction is like a time bomb," noting that
"the dollar's valuation has been directed to 50 private Iraqi banks in order to resolve it." He added,
"These foreign banks have joint accounts,
controlling more than $50 billion annually, which is a significant amount,"
warning of the danger of "these banks monopolizing remittances, even though they are affiliated with foreign investment."
He stressed the "need to take action, either dismantling the banks, which is unacceptable, or implementing real instructions that are consistent with international models, not a model tailored to Iraq and never implemented at all."
https://www.alsumaria.tv/news/economy/529225/قنبلة-موقوتة-الاقتصاد-العراقي-في-خطر-بسبب-مصارف-اردنية
FIREFLY:Television says the Iraqi stock exchange is adding a lot of new firms to their list
Frank26
[Iraq boots-on-the-ground report]
FIREFLY:Television says the Iraqi stock exchange is adding a lot of new firms to their list to draw more international attention.
FRANK: The Iraqi Stock Exchange along with the Erbil Stock Exchange and ISX and the ESX IMO are doing the very same thing that Forex did with the Iraqi dinar a few weeks ago. Put it in position...It's exciting to see all these advancements during the Asraflak period.
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