A Government Delegation From The Region Arrives In Baghdad, And An Oil Agreement Is Imminent Today

 A Government Delegation From The Region Arrives In Baghdad, And An Oil Agreement Is Imminent Today.

Time: 2025/07/07 11:24:11 Reading: 945 times  {Political: Al Furat News} An informed source revealed that a delegation from the Kurdistan Regional Government arrived in Baghdad to hold talks with Iraqi officials regarding the draft agreement between the two sides.

According to the source, the delegation includes Acting Minister of Natural Resources Kamal Mohammed, Cabinet Secretary Amanj Rahim, and Head of the Coordination and Follow-up Office Abdul Hakim Khosro.

The delegation's visit comes as Baghdad has prepared a final draft of the agreement to re-export oil and is awaiting Erbil's response, which is expected today.

A source familiar with the Baghdad-Erbil negotiations, who preferred to remain anonymous due to the sensitivity of the issue, reported yesterday that a draft agreement on the delivery and export of oil was in its final stages. He noted that the most significant amendment to the agreement entails the delivery of all oil produced in exchange for the federal government securing the Kurdistan Region's petroleum product needs.

The source in the Kurdistan Regional Government indicated that the draft agreement stipulates that a delegation from the Ministry of Oil will be sent to the region for two purposes: first, to determine the actual level of oil production, and second, to assess the extent of local needs for petroleum products such as kerosene, gasoline, and diesel, which the federal government will provide according to the agreement.

It is worth noting that the Kurdistan Region's oil exports via the Turkish port of Ceyhan have been halted since March 25, 2023, while the amendment to the budget law entered into force on February 17 with the aim of removing obstacles to the resumption of these exports.

Under the amendment, a consulting firm will assess the costs of extracting and transporting Kurdistan's oil. Until this assessment is completed, Baghdad will temporarily pay $16 per barrel to oil companies as operating costs.  LINK

Al-Mustaqilla Reveals: 30 Iraqi Banks No Longer Deal In Dollars!

 Al-Mustaqilla Reveals: 30 Iraqi Banks No Longer Deal In Dollars!

 
Al-Mustaqilla publishes the full list: Banks banned from receiving dollars by order of the Central Bank.
 
July 7, 2025 Last updated: July 7, 2025  Al-Mustaqilla/- Al-Mustaqilla today obtained an updated list of licensed private banks in Iraq that have been banned from dealing in dollars by the Central Bank of Iraq.
 
This decision comes amidst uncertainty and the lack of official confirmation of the precise reasons that prompted the bank to ban these banks from dollar trading.

It is speculated that these banks are linked to US sanctions and other financial oversight concerns.

Banks prohibited from dealing in dollars
 
According to the official website of the Central Bank of Iraq,
the list included the following banks:
 
    Middle East Iraqi Investment Bank
    Iraqi investment
    Dar Al Salam Investment
    Babylon consumption
    Sumer Commercial
    Mosul Development and Investment
    Iraqi Federation
    Ashur International Investment
    Across Iraq for Investment
    Guidance
    Erbil Investment and Finance
    Hammurabi's Commercial Code
    Elaph Islamic
    Kurdistan International Islamic Investment and Development
    Islamic Cooperation for Investment (under liquidation, prohibited from dealing in dollars)
    Islamic Giving for Investment and Finance
    Islamic Investment and Finance Advisor
    Islamic World Investment and Finance
    South Islamic Investment and Finance
    Islamic Arabic
    Noor Al Iraq Islamic Investment and Finance
    Zain Iraq Islamic Investment and Finance
    International Islamic
    Islamic Finance Holding Company
    Al Ansari Islamic Investment and Finance
    International Islamic Trust
    Al Rajhi Islamic
    Islamic Paper for Investment and Finance
    Asia Iraq Islamic Investment and Finance
    Islamic Spectrum for Investment and Finance
    Islamic money for investment

Possible reasons for ban
 
To date, the Central Bank of Iraq has not issued an official statement detailing the reasons for banning these banks from dealing in dollars. 

However, financial sources and banking sector observers point to the possibility of a  link between this decision and US or international sanctions on some of these institutions,
 
in addition to potential violations related to: money launderingsmuggling hard currency illegal transfers
    Failure to comply with financial compliance and banking oversight standards
 
The repercussions of the decision on the Iraqi economy
 
This ban comes at a time when the Iraqi economy is suffering from several pressures, including the  decline in the value of the Iraqi dinar and   fluctuating dollar prices in the local market, which could lead to: The  complexity of transactions for companies and individuals dealing with these banks.

 Increased demand on the black market for dollar exchange,  with the accompanying financial risks. Undermining confidence in the local banking system,   especially among private banks facing the threat of sanctions.
 
Calls for more transparency
 
Economists believe the Central Bank of Iraq should issue a  transparent statement explaining the true reasons behind these decisions, along with a clear plan to address the financial issues related to the banks in question.
 
Some MPs have also called for the formation of a parliamentary investigation committee to monitor the violating banks and  ensure the protection of citizens' funds.
 
in conclusion
 
All eyes are on the Central Bank of Iraq's next steps regarding banks banned from dealing in dollars.
 
 Will additional sanctions be imposed, or  are these merely temporary measures to regulate the market and improve financial oversight?  What impact will this have on the stability of the banking system and the Iraqi economy in general?  
  
https://mustaqila.com/المستقلة-تكشف-30-مصرفًا-عراقيًا-خارج-ال/

Iraq is getting closer to membership in the World Trade Organization!! #iqd # #iraqidinar #iraq

 

Al-Sudani: We Are Close To Achieving Complete Self-Sufficiency In Petroleum Derivatives And Will Move To Exports

 Al-Sudani: We Are Close To Achieving Complete Self-Sufficiency In Petroleum Derivatives And Will Move To Exports

Monday, July 7, 2025 11:05 | EconomicNumber of reads: 369  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed: "Iraq is close to achieving full self-sufficiency in petroleum derivatives, and will move to exports after the completion of a number of projects."

Al-Sudani said in a speech during the inauguration, via video conference, of the operational works of the Diwaniyah refinery expansion project: "This project falls within the government's vision to reach the conversion of 40% of the produced oil to the refining and transformation industries to meet the needs of the local market and export," indicating that with the entry of a number of projects into service, Iraq is close to achieving full self-sufficiency in petroleum derivatives, and will move to exports after the completion of the refinery expansion projects in Maysan, Diwaniyah, and Najaf.

According to a statement from his media office, he praised the efforts being made on this project, noting: "Diwaniyah Governorate lacks major projects, and this project will contribute to stimulating economic activity and will provide double job opportunities.

" He pointed out: "Refinery expansion projects will be one of the most prominent areas for enhancing the expertise of our youth and developing and investing in the oil wealth."

Al-Sudani explained: "The project, which costs $800 million, will include the addition of liquefied gas processing units with a capacity of 180 tons per day, gasoline improvement with a capacity of 10,000 barrels per day, expansion of kerosene, gas oil and fuel oil production, an 8,000 barrel per day naphtha isomerization unit, an 18,000 barrel per day naphtha hydrogenation unit, a nitrogen production plant, warehouses and storage and pumping stations, and another for electricity production."

The Prime Minister expressed his great confidence in the private sector as a partner in implementing strategic projects, in addition to his greater confidence in national capabilities to implement joint projects and achieve the highest returns from the oil wealth.

Prime Minister Mohammed Shia al-Sudani launched, today, Monday, via a video conference, the executive works of the Diwaniyah refinery expansion project by adding refining units with a capacity of 70,000 barrels/day, so that the total refining capacity of the refinery becomes 90,000 barrels/day. /End https://ninanews.com/Website/News/Details?key=1239422

Tuesday Coffee with MarkZ. 07/08/2025

 Tuesday Coffee with MarkZ. 07/08/2025

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 Morning Mark, Mods and members

Member: Are we there yet????

MZ: In Iraq: “The coming hours may witness the signing” This is about the Erbil/Baghdad oil agreements . There is a lot of back and forth right now. But articles are saying they have worked through the issues and signing is imminent. 

MZ: We saw this same kind of back and forth in Kuwait. 

Member: Never thought we all still be waiting and waiting and waiting all this time for the RV to go but then again, they don't care

MZ: Our regular article from Saleh: “ Advisor to the Prime Minister: Monetary Policy has succeeded in stabilizing prices and curbing inflation”  He says “We are in great shape.” 

Member: I bet Saleh had black hair when I bought my dinar

MZ: “Banning 18 Islamic banks from dealing in dollars-liquidation is looming”These are the same banks associated with financing terrorist groups. So is it Islamic banks being singled out – or support of terrorism being singled out? I think its part of a world wide cleanup effort.

MZ: I think this one is important. “A security source revealed Tuesday the determination of the International coalition withdrawal from Ain-A-Assad base from Anbar province”  Trump has said all along that we will leave when we are paid. Now they are leaving????  

MZ: I believe things are much further advanced than the press is reporting 

MZ: This one makes me feel good about where we are at: “ TIR system: Iraq is a highway from Turkey to the Gulf”  this is part of the development road project connecting the east to the west. 

Member: I wonder- when do the Vietnamese new tariff trade agreements and thus new rate go into affect?

Member: With the new trade deal with Vietnam they should just go alone and take the lead

Member: any news from Bonds or groups today?

MZ: I do know a couple folks that have some bond update appointments today and I am hopeful it will give us a better idea where we are? Seems like much of it is misdirection. 

Member: Frank's JPM Story...A guy went in for a meeting with Fin Adv. wasn't getting anywhere. Plopped down a brick of Dinar...The VP of Wealth mgmt was called. They have an appt today.

Member: We’re in a proverbial “escape room” looking for the clues together!

Member: Will we have Christmas in July or December? 

Member: When this is all said and done and we are on the other side of this shift I vote to remove the word “soon” from the English language going forward!!

Member:  They have always said there would be confusion right before this happens—hope that is where we are

Member: Just before the end of a movie the twists and turns increase and then boom

Member: happy Birthday to everyone celebrating and have a great day everyone. 

FNU LNU: This is the first real news in months now!! @DINARREVALUATION #iqd

 

The Government Has Taken Major Steps To Promote Electronic Payments And Financial Inclusion, Achieving Qualitative Leaps In 2025

 The Government Has Taken Major Steps To Promote Electronic Payments And Financial Inclusion, Achieving Qualitative Leaps In 2025.

Money and Business  Economy News – Baghdad  A government source revealed the steps taken by the Iraqi government to develop and promote electronic payments, noting that since the Iraqi government assumed office more than two and a half years ago, the importance of a strong and efficient banking system has become clear to it. 

The development of electronic payments and increased financial inclusion in the country are among its most prominent features.

The government and the Prime Minister have considered this goal a top priority, as it is a key objective in the strategies of countries around the world, given its close connection to economic stability and growth.

The source added to Al-Eqtisad News that the Iraqi government has taken a series of decisions and measures through the Council of Ministers and the Ministerial Council for the Economy, in addition to the committees emanating from them, which include representatives from the government, the Central Bank, and the private sector, to monitor this aspect. 

These committees include the Electronic Payment Performance Monitoring Committee, the Electronic Payment and Financial Inclusion Stimulation Committee, the Digital Transformation Committee, and the Digital Transformation and Electronic Payment Process Evaluation Committee in Iraqi Ministries and Government Institutions. 

He explained that Prime Minister Mohammed Shia Al-Sudani had previously issued a set of decisions and directives based on reports received from these committees, which led to significant progress in several indicators in this field during 2025, as :

- The percentage of digital transformation of Iraqi ministries and institutions rose to about 32%, after it was less than 18% in 2022, with a growth rate of

It reached 78%.

The number of bank accounts reached approximately 20 million, compared to 8 million in 2022, a growth exceeding 150%.

The number of bank cards also increased to 21-22 million cards (of all types, including credit, debit, and prepaid), up from 16 million cards in 2022, representing a growth rate of 38%.


The number of point-of-sale (POS) devices reached approximately 62,000, up from less than 10,000 in 2022, a growth of 520%.

The number of ATMs reached approximately 7,531, up from approximately 2,223 in 2022, a growth rate of 239%.

Total electronic payments reached approximately 1.37 trillion dinars in May 2025, compared to less than 90 billion dinars at the end of 2022, with a growth rate of 1,400%.

Data indicates that financial inclusion in Iraq has reached approximately 40%, up from less than 10% in 2019.

The source revealed that "the Prime Minister recently issued a number of future decisions related to a number of important projects in the field of electronic payments, stressing the need to complete them as soon as possible. These projects include:

- Activation of the local card, which is expected to be completed by the end of 2025.

- Activate the fast payment project.

- Activating the unified electronic collection application.

- Localizing private sector salaries in line with the government sector.

- Establishing a unified center for complaints related to electronic payment transactions, headquartered at the National Data Center.

The source also expected these projects to be completed in less than a year, stressing that their implementation would contribute to Iraq's advancement to a new level among advanced countries in this field.  232 viewshttps://economy-news.net/content.php?id=57098