FIREFLY: "TV Reports Iran Will No Longer Influence Selection of Iraq’s Prime Ministers" #iraq

 

THE US TREASURY IS PURSUING CORRUPTION FUNDS… AND THE BAGHDAD GOVERNMENT REMAINS SILENT

THE US TREASURY IS PURSUING CORRUPTION FUNDS… AND THE BAGHDAD GOVERNMENT REMAINS SILENT.

An Imminent Crisis in the Iraqi Financial Sector: Has the Phase of Comprehensive Sanctions Begun?

Iraq’s financial system is facing new signs of turmoil after the disruption of salary payments through some electronic payment companies affiliated with government institutions. While the reasons for the disruption appear technical, informed sources confirm that the matter is linked to US investigations targeting Iraqi banks and companies suspected of involvement in money laundering operations abroad, to countries including Turkey, Iran, and the UAE.

The same sources explained that the US Treasury had granted a grace period to a number of private banks and electronic payment companies to rectify their status and comply with international standards for combating money laundering and terrorist financing, including the Financial Action Task Force (FATF) and Know Your Customer (KYC) requirements. However, many of these entities have not demonstrated sufficient seriousness in resolving their cases, opening the door to the inclusion of new names on US sanctions lists in the near future.

This situation threatens to directly disrupt the financial market’s performance, especially if the sanctions affect active institutions relied upon to pay salaries and finance daily commercial activities. Experts expect liquidity within the market to be significantly affected, amid growing concerns about declining public confidence in local banks. This is particularly true with the increased demand for dollars for external transfers or for storage in anticipation of any unexpected developments. This pressure could lead to a decline in the value of the Iraqi dinar and a rise in the dollar on the parallel market, which would impact the prices of goods and services in an already tense economic environment.

Meanwhile, regulatory authorities within Iraq , led by the Central Bank, are preparing to impose stricter oversight on the activities of banks and money transfer companies in an attempt to avoid further escalation. This is particularly true since some technical reports have revealed clear violations in the performance of some banking institutions, including massive financial transfers abroad without legal documentation, the issuance of credit cards to fictitious accounts, and suspicions of financing prohibited activities or smuggling hard currency.

Despite the bleak outlook, observers believe the crisis could mark a turning point in Iraq’s financial reform process. It has become imperative to restructure the private banking sector and impose strict regulatory classifications, along with a comprehensive review of electronic payment companies to ensure their compliance with international standards, and to open the door to broader partnerships with globally licensed financial service providers.

In this context, the crisis may turn into an opportunity to reshape the financial market in Iraq, starting with cleansing the banking environment of unregulated entities and bolstering international institutions’ confidence in the Iraqi transfer and oversight system. The shift toward a more transparent and governed environment is not a luxury, but rather a necessity imposed by both domestic realities and international pressures.

Iraq today stands at a critical crossroads: either integrate into the global financial system on its terms and ensure gradual stability in its banking sector, or continue sliding toward financial isolation, which will have direct repercussions for the lives of citizens and the country’s economy as a whole.

SANDY INGRAM: Iraq’s CBI has Major Announcements and Changes

 Iraq’s economic landscape is undergoing significant transformation, spearheaded by proactive measures from the Central Bank of Iraq (CBI). 

Recent announcements highlight a series of positive developments aimed at strengthening the national currency, enhancing purchasing power, and bolstering the country’s financial resilience.

One of the foundational steps in improving banking practices across the nation is evident in a recent training workshop held in Erbil. This intensive session focused on “Core Standards for Detecting Counterfeit Currency,” an essential initiative designed to fortify the integrity of Iraq’s financial system and ensure greater security for transactions. 

This commitment to meticulous standards underscores the CBI’s dedication to a more robust and trustworthy banking environment.

Beyond operational enhancements, the CBI’s efforts are yielding tangible results in macroeconomic stability. Notably, Iraq has seen inflation rates fall significantly to a commendable 2.2% in the first quarter of 2025. This substantial drop is a strong indicator of improved economic management and directly translates into enhanced purchasing power for Iraqi citizens, making everyday goods and services more affordable.

Further bolstering the stability of the Iraqi Dinar (IQD), the CBI has successfully implemented a 0.6% reduction in currency circulation. This strategic move is designed to control liquidity, manage inflationary pressures, and, critically, support the overarching goal of stabilizing and strengthening the IQD’s value in the market.

Perhaps one of the most compelling signs of Iraq’s growing financial strength is the remarkable surge in its gold reserves. The nation’s gold reserves have climbed by an impressive 19%, now standing at a robust IQD 21.2 trillion. This significant increase not only fortifies Iraq’s foreign reserves but also acts as a crucial hedge against economic volatility, boosting investor confidence and providing a solid foundation for future growth.

These comprehensive measures from the Central Bank of Iraq paint a promising picture for the country’s economic future. From meticulous banking standards to robust national reserves and controlled inflation, Iraq appears poised for increased stability and prosperity.

MILITIAMAN: We only expect to see a strong and regional and global status for the country of Iraq!!

 

PRESIDENT OF THE REPUBLIC: I WISH TRUMP SUCCESS IN ACHIEVING PEACE THROUGHOUT THE WORLD

 PRESIDENT OF THE REPUBLIC: I WISH TRUMP SUCCESS IN ACHIEVING PEACE THROUGHOUT THE WORLD.

President Abdel Latif Jamal Rashid expressed his wishes for US President Donald Trump’s success in his efforts to achieve peace throughout the world on Wednesday.
The President of the Republic told Spanish National Radio that everyone in the Middle East is concerned about the ongoing Israeli attacks, whether against the Palestinians, Iran, Lebanon, Yemen, or many other places, adding that these crimes against the peoples of the region must stop.

He continued, “Iraq hopes that the ceasefire between the Islamic Republic of Iran and Israel will continue to become a permanent ceasefire and that no further attacks will occur there.” He noted that “Israeli bombing of Gaza continues daily, resulting in dozens or even hundreds of casualties among civilians and innocent children every day.”

He added that the Arab countries had set their own conditions for ending the conflict, stating that “the first priority must be to stop this aggressive war, grant the Palestinian people their right to self-determination, enable them to establish their own state and enjoy their legitimate rights, and stop these massacres.”
He explained that “Iraq’s relations with Iran are good,” noting that “Iran is a neighboring country with which we share a border of more than 1,400 kilometers.” He added that these relations are not new; they have existed for a long time, and that we have extensive contacts with the Iranian side.

He continued, “There is an urgent need to find a comprehensive solution to address the problems facing Iran, as it continues to suffer from sanctions and the isolation imposed by some countries.” He emphasized that “the best course of action is to pursue dialogue and reach understandings with Iran so that it can become part of the international community.”
He continued, “I wish President Trump success in his efforts to achieve peace around the world, noting that without peace, we all suffer—economically, socially, and diplomatically.”
He emphasized that “ISIS was a terrorist organization, and we fought a long war against it because it controlled vast swaths of Iraqi territory. We succeeded in defeating it militarily, and the security situation in Iraq is much better today.

He noted that ISIS remains an ideological threat, and it is the duty of the entire international community to counter these ideas. He emphasized that ISIS must not be allowed to exist or operate in any way, adding that we are cooperating closely with the Syrian government to address this problem.

EXCERPTS FROM MNT GOAT: They are planning to do a major revaluation in the VERY, VERY NEAR future!!

 EXCERPTS FROM MNT GOAT

 Why would they need to have the citizens and merchants on the digital transactions with the banks? Less cash is better! This is what “financial Inclusion” means.

 I am being told by my CBI contact that the CBI is looking for at least 50% of the citizens with bank accounts and in the digital payment system. 

I don’t know how they gauge this percentage but that is what I am told. If nothing else from today’s news remember that in order to conduct a revaluation of the dinar, thus in order to make the rate of each dinar to the U.S. dollar higher (as much as we want), they would have to reduce the monetary mass in circulation substantially to do it. 

If you are going with a $4+ RV rate then my contact told me they would have to reduce or shrink the monetary mass by nearly a quarter of the paper. To do this the paper (the three zero notes) must be brought back to the banks, thus the CBI to burn.  Oh…. you are confused?

I am talking of course ONLY about the paper notes in the hands of the citizens and us investors. The rest the banks can convert digitally. 

Could this also be one of the reasons why they keep telling us they need to get these paper notes out of the homes and stashes and into the banks? They told us nearly 90% of all the paper is not in stashes not in the banks. Folks, it all adds up.

 They are planning to do a major revaluation in the VERY, VERY NEAR future. Are you ready?

MNT GOAT: They are planning to do a major revaluation in the VERY, VERY NEAR future!! #iqd