FRANK26: " 'IRAQ WILL BECOME A BANKING POWERHOUSE'... AL-HASSAN"

 KTFA

FRANK26: " 'IRAQ WILL BECOME A BANKING POWERHOUSE'... AL-HASSAN".......F26

Al-Hassan from Karbala: Iraq is not a poor country and is open to foreign investment.

7/5/2025

 

- Karbala

 

The Special Representative of the Secretary-General for Iraq, Mohammed Al-Hassan, praised Iraq's policy of disassociation from recent conflicts in the region on Saturday, stressing that the country is now open to foreign investment to improve its economic situation.

"What I witnessed in Karbala today is a vivid picture of a united Iraq," Al-Hassan said in a joint press conference with Karbala Governor Nassif Jassim Al-Khattabi, attended by a Shafaq News Agency correspondent. "What we witnessed embodies the meaning of national belonging, and that this belonging is above all considerations." He added, "The stability achieved in Iraq did not come by chance, but is the fruit of a collective will and precious sacrifices."

He stressed that "Iraq is not a poor country, but rather a country of goodness, with trained, educated and cultured human resources, not only at home but also abroad. Iraq has scientists of both genders, even at NASA, and they are distinguished." He added that "Iraq has distanced itself from the surrounding political problems, and in light of that, we only expect to see a strong Iraq with a regional and global standing."

Al-Hassan continued, saying, "Iraq's message now is no longer one of war and conflict, but rather one of peace, construction, progress, and development," noting that "Iraq is safe, secure, and open to foreign and international investment." 

 

LINK

 

FIREFLY: The United States Federal Reserve still holds our oil reserves, our money, and this affects our economy and our exchange rate

 Frank26   

[Iraq boots-on-the-ground report]   

FIREFLY:The United States Federal Reserve still holds our oil reserves, our money, and this affects our economy and our exchange rate. 

 FRANK:  Yes, America is still holding on to your oil because we are protecting it...Executive Order 13303 has something to do with it.  It's a good thing.  It's not a bad thing...Evil pigs tell you it's going to affect your exchange rate of the dinar. Well, of course it is...but in a positive way.  It's going to improve it.

IRAQ BOOTS ON THE GROUND: The exchange rate reform is officially enabled!! #iraqidinar #iqd

 

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