FRANK26: "IF YOU DO YOUR CURRENCY WILL MAKE MONEY".......F26
Pezeshkian: We are ready to cooperate to promote peace in the region
6/25/2025
Iranian President Masoud Pezeshkian affirmed on Wednesday his country's readiness to cooperate to promote peace in the region.
"We support a nuclear-free zone and a zone free of weapons of mass destruction, provided that this includes the Zionist entity," Pezeshkian said in statements reported by Iranian media.
He added, "We are ready to cooperate to improve the security situation and promote peace in the region.
"
US President Donald Trump announced on Wednesday that negotiations with Iran would begin next week, expecting an agreement .
Trump said in his speech at the NATO summit: "We may sign a deal with Iran next week and we will require it to abandon its nuclear program ."
He added that "Iran and Israel are 'exhausted and tired' because of the war," indicating, "We will meet the Iranians next week ."
He stressed that "we spoke to people who saw the Fordow site after our strike and they said it was completely destroyed," adding, "I do not think that Iran will engage again in the nuclear program."
The Ministry of finance and economy in the Kurdistan region, directed all banks to suspend all types of exchange for two months effective from today. 👉No explanation was given behind this decision.
This comes a mid complex, financial economic circumstances facing the region, and the minister of finance said suffering, and I’m going crisis and securing salaries and financial dues and ongoing disputes between the regional government and the federal government regarding the oil and budget issues.
FRANK26: "SECURITY & STABILITY BRINGS A NEW EXCHANGE RATE !!!".....F26
With the stability trilogy, monetary policy tames inflation and protects citizens' pockets.
6/25/2025
The Prime Minister's financial advisor, Mazhar Muhammad Salih, confirmed that the monetary policy, whose objectives under the Iraqi Central Bank Law No. 56 of 2004 include reducing the growth in inflation rates to a stable path.
Speaking to Al Furat News Agency, he pointed out that "this policy was able to control demand levels and additional spending power in the economy, by sterilizing local liquidity by providing foreign currency at a stable official exchange rate for the dinar not exceeding 1,320 dinars per dollar, and on a scale that led to weakening the effects of the parallel market and reducing it to financing the country's foreign trade."
Saleh explained that "this came as a result of the cancellation of the foreign currency window at the beginning of this year and the adoption of the principle of foreign exchange bolstering to finance the country's foreign trade, praising the successes of this shift in terms of financing speed and compliance." He added, "The success of the price defense policy adopted by the trade policy contributed to the remarkable spread of central markets in cooperation with the private sector, which reflected in the price moderation of these market components in a competitive manner, ensuring the stability of essential goods for citizens and others." He explained that "the three policies, in combination, have had a positive impact on economic policy in promoting stability in citizens' cash income, with remarkable success over the past two years, as annual inflation growth did not exceed 3%, which is within the normal acceptable range for estimating annual price base growth in the country."
FRANK26: "THE IMF SHOWS IRAQ IS READY FOR A NEW EXCHANGE RATE"........F26
The IMF mission commends the Central Bank of Iraq.
June 25, 2025
The International Monetary Fund (IMF) mission, led by Jean-Guillaume Poulain, which met with the Central Bank of Iraq (CBI) from May 4 to 13, 2025, commended the CBI's work in several areas. It confirmed that the CBI has made progress in absorbing excess liquidity by increasing the issuance of short-term debt instruments (CBI drafts and Islamic certificates of deposit), adjusting subscription limits for banks in CBI auctions, and improving liquidity forecasting tools and practices.
The statement issued by the International Monetary Fund stated that the mission commended the efforts of the Central Bank of Iraq to successfully transition to the new trade finance system, indicating that commercial banks now process trade finance transactions entirely through their relationships with correspondent banks. The Central Bank of Iraq has achieved significant progress by transitioning to the new system for financing foreign trade through correspondent banking channels, instead of relying on the daily dollar auction. This development has contributed to enhancing banks' compliance with international transparency requirements, such as OFAC regulations and others, and improving their relationships with global correspondent banks.This step has resulted in narrowing the gap between the official dollar price and its parallel price, indicating relative success in curbing illegal speculation and reducing currency leakage. The foreign exchange management methodology has become more effective compared to the past, especially with the Central Bank of Iraq continuing to take complementary measures, such as requiring traders to submit genuine import invoices and simplifying procedures for obtaining hard currency for legitimate importers.
In parallel, the mission welcomed the progress made in the use of digital technology and the Iraqi authorities' intention to implement a comprehensive reform of the banking sector, calling for its completion to be accelerated without delay. The Iraqi government, with technical support from the International Monetary Fund and other international bodies, has begun implementing initial steps to reform government banks, including auditing the quality of assets, estimating the size of non-performing loans, and developing a draft plan to restructure the two largest government banks (Rafidain and Rashid) financially and administratively. The Iraqi financial sector has also witnessed an increasing trend towards digitization and the adoption of modern financial technology, whether in electronic payment services or the launch of banking platforms via the Internet and mobile phones.
The International Monetary Fund believes that these technical improvements, along with steps to enhance cybersecurity in banks, promote financial inclusion, expand private banking activity, and restructure government banks, will enhance the efficiency of financial services and increase foreign correspondents' confidence in the Iraqi banking sector.
The report also noted the expansion of private banks' activity in trade finance and small business financing, with expectations of further increases if obstacles are removed. Initiatives to enhance financial inclusion, modernize electronic payment systems, and reduce reliance on cash in the economy are also crucial to strengthening banking depth. The Central Bank of Iraq launched a national financial inclusion strategy during the first half of 2025. The report also included important recommendations to enhance financial stability and facilitate the transfer of monetary policy effects to the real sector, including: reducing the phenomenon of dollarization, in which Iraq has made significant progress over the past two years; the importance of accelerating the completion of the comprehensive restructuring plan for banks to enhance their solvency; the importance of strengthening corporate governance for banks, developing digital infrastructure and cybersecurity for the financial sector; strengthening the role of private banks in financing economic development; and continuing to improve anti-money laundering and counter-terrorism financing procedures. It is also important for the Central Bank of Iraq to continue increasing the issuance of short-term securities to ensure better management of excess liquidity.
Article: "Advisor: Iraq’s financial situation is secure" Quotes:
"The Prime Minister’s Financial Advisor, Dr. Mazhar Muhammad Salih, confirmed that Iraq’s financial situation remains within safe limits, despite the repercussions of regional tensions...
";
"He added that geopolitical tension raised oil prices by about (10) dollars, which increased revenues, despite the risks associated with the security of navigation in the Strait of Hormuz, through which the majority of Iraq’s exports pass."