REPORT: Impact of attacks on Iran in Iraq so far

 Impact of attacks on Iran in Iraq so far:

- Closing of airspace & suspension of ops at Iraqi airports. Pics from empty Najaf Airport. 

- $ exchange rate keeps changing. Problem for Iraq’s economy as it’s pretty dollarized.

- PMF cancels anniversary events scheduled for tomorrow.

Economic Impact of Attacks on Iran in Iraq So Far

1. Investor Confidence Decline: Ongoing violence and instability caused by attacks on Iranian targets in Iraq have discouraged both local and international investors. Many fear the country is becoming a battleground for regional powers.

2. Oil Sector Risks: Iran-backed militias are influential in Iraq's oil-rich regions, especially in the south. Escalating tensions threaten oil infrastructure and production, which is the backbone of Iraq’s economy.

3. Currency Fluctuations: Security threats often lead to speculation and uncertainty in the financial markets, causing instability in the Iraqi dinar and driving up inflation risks.

4. Trade Disruption: Iraq maintains economic ties with Iran, including electricity imports and border trade. Strikes on Iranian assets and growing tensions could disrupt this exchange, affecting local markets and prices.

5. Budget Pressure: With the need to increase security spending and repair infrastructure damaged by conflict, Iraq’s public budget faces additional stress, reducing funds for public services and reconstruction.

6. Reduced Economic Growth: Overall, the conflict environment hampers Iraq’s ability to implement reforms, attract business, and grow its non-oil sectors, all of which are crucial for long-term economic stability.

NADER FROM THE MID EAST: " Soon we'll be in every bank in United States" ‪@DINARREVALUATION‬

 

FRANK26: "BARZANI WAITS FOR THE NEW EXCHANGE RATE."

 KTFA

FRANK26: "BARZANI WAITS FOR THE NEW EXCHANGE RATE.".......F26

Two months of financial silence: Kurdistan freezes spending amid a storm of crises

 

6/24/2025

 - Kurdistan

The Ministry of Finance and Economy in the Kurdistan Region directed all banks, today, Tuesday (June 24, 2025), to suspend all types of exchange for a period of two months, starting today.

An informed source told Baghdad Today that "the ministry issued an official directive to all banks to suspend all forms of exchange for two months, without providing any explanation for the decision."

The decision by the Kurdistan Region's Ministry of Finance and Economy comes amid complex financial and economic conditions facing the region. The region is suffering from an ongoing crisis in securing salaries and financial dues, as well as ongoing disputes between the regional government and the federal government regarding oil and the budget.

LINK

TIDBIT FROM SANDY INGRAM

 Sandy Ingram  

 [Our] opinion Iraq is being pushed into qualifying for Forex participation status due to the slow pace at which Iraq can access its dollars at the Federal Reserve Bank. 

 Largely because certain banking restrictions are not in place...

Chase Bank’s is showing fixed exchange rates of $40 per IQD and $2.51 p...

FRANK26: "1310 IS NOT FINANCIAL INTEGRITY... REALIZE THAT!!!".

 KTFA

FRANK26: "1310 IS NOT FINANCIAL INTEGRITY... REALIZE THAT!!!"...........F26

 

Qi and K2 Integrity to Elevate Iraq's Financial Standards

 

24th June 2025 

By John Lee.
 

Qi (International Smart Card), Iraq's largest electronic payment platform, has announced that it has entered into a landmark partnership with K2 Integrity (K2i), a US-based global financial integrity and compliance advisory firm.
The multi-year collaboration aims to align Iraq's financial infrastructure with international standards in anti-money laundering (AML) and countering the financing of terrorism (CFT).

The partnership spans operations in the UAE, Jordan, and Iraq. A major compliance back office will be established in Jordan, fully integrated into Qi's ecosystem, while the UAE office will serve as an innovation hub.

Flour factory

ISC Chairman Bahaa Abdul Hadi described the initiative as part of a broader national mission:

"This is not just about one business group. This is about Iraq and its economic future ... we are investing heavily to ensure our systems, people, and partners meet the highest global standards of financial integrity."

The partnership spans a 36-month roadmap split into three phases, where K2 Integrity will perform the following strategic tasks.

• Evaluate and transform Qi's current financial crime compliance (FCC) framework.
• Train Qi's personnel across all levels-from frontline staff to executive leadership.
• Take operational responsibility for implementing globally benchmarked compliance practices.
• Transition the program into a sustainable, best-in-class model eventually managed by Qi.

According to a press release, this initiative marks a pivotal milestone in Iraq's compliance evolution, strengthening national capabilities and building a foundation for secure, scalable financial growth; it positions Iraq to regain credibility with international partners, attract investment, and enable more secure, scalable cross-border transactions, particularly vital for trade, remittances, and financial inclusion.

(Source: Qi)

LINK

MAJEED: Iraq is talking about changing the exchange rate publicly

 MAJEED

exchange rate

Iraq is talking about changing the exchange rate publicly Each $1 would equal 1.32 Iraqi dinar We know damn well it will be higher than that But they’re talking now about deleting the 000