update: "I'm still waiting for the new exchange rate!!! #iraqidinar IQD RV: IRAQ ISSUES BIOMETRIC CARDS!!! #iqd #iraqidinar

 

THE PARLIAMENTARY FINANCE COMMITTEE DOES NOT KNOW THE REASONS FOR THE “GOVERNMENT AMBIGUITY” REGARDING THE BUDGET SCHEDULES FILE

THE PARLIAMENTARY FINANCE COMMITTEE DOES NOT KNOW THE REASONS FOR THE “GOVERNMENT AMBIGUITY” REGARDING THE BUDGET SCHEDULES FILE.

The Finance Committee of the Iraqi Parliament said on Thursday, July 3, 2025, that it does not know what lies behind the “ambiguity” of the government of Mohammed Shia al-Sudani regarding the 2025 budget schedules. This comes days after its head addressed the government and urged it to expedite the submission of the budget. 

Committee member Mustafa Al-Karawi told Al-Jabal, “The parliamentary finance committee still doesn’t know anything about the 2025 budget schedules.”

He added, “A few days ago, the committee chairman officially contacted the government to ask for details of the schedules and when they would be sent to us. However, to date, there has been no government response and there is still ambiguity regarding this matter.”

Last Sunday, June 29, 2025, Parliamentary Finance Committee Chairman Atwan al-Atwani called on Prime Minister Mohammed Shia al-Sudani to “expedite” the submission of the 2025 budget schedules.

A document issued by Al-Atwani to the Prime Minister stated: “We reiterate our commitment to expediting the submission of the 2025 budget tables to the Iraqi Parliament for approval, signaling the start of legal government spending and disbursements, and enabling state institutions to fulfill their obligations, particularly with regard to releasing employee entitlements (bonuses, promotions, and transfers), and addressing the demands of segments awaiting inclusion of their rights in this budget.”

Al-Karawi explained that “the government is urgently required to send the schedules at the start of the legislative session at the end of next week for review and approval, as this requires time. We do not know the reasons for all this governmental ambiguity regarding these schedules.”

Parliamentary Finance Committee member Mustafa Al-Karawi previously told Al-Jabal that “the government, from the outset, was not serious about sending the 2025 budget tables to Parliament for a vote. This was due to a lack of funds to finance this budget through projects and other means, especially since it has not yet disbursed the 2023 and 2024 budget funds due to this shortfall.”

Prior to this, Iraqi parliament member Hadi Al-Salami announced filing a formal legal complaint against the government for delaying the submission of the 2025 state budget schedules.

In a video clip during a visit to a nursing home in Baghdad, he pointed to the poor living conditions of the elderly, their low income, and the budget’s cessation for 10 months due to the delay in submitting the budget. He explained that “there is negligence and neglect that the Council of Ministers and the Ministry of Finance are responsible for. We are proceeding with our oversight measures, and we have full hope in the Iraqi judiciary.”

An official letter addressed by the Public Prosecution Office of the Iraqi Supreme Judicial Council to the office of Finance Minister Taif Sami, dated June 3, 2025, and published on Monday, June 23, 2025, revealed a previous official complaint filed by MPs Hadi Al-Salami and Mohammed Jassim Al-Khafaji against the Ministry of Finance in this regard.

At the end of last May, Moeen Al-Kadhimi, a member of the Iraqi Parliament’s Finance Committee, revealed government efforts to submit the 2025 budget tables to Parliament. He expected the tables to be submitted to Parliament in mid-June. 

Al-Kadhimi told the Al-Jabal platform, “We have received information that the Ministry of Finance, along with the Ministry of Planning, is preparing budget tables for 2025 based on recent financial and economic changes with the decline in oil prices. We expect these tables to be sent in mid-June,” which has not happened.

Prior to that, during a meeting with the head of the Parliamentary Finance Committee, Atwan Al-Atwani, Al-Sudani emphasized “the government’s commitment to ensuring that the budget includes its priorities in implementing its schedules, in order to complete the government program’s components, particularly those related to providing services and completing projects, to fulfill the aspirations of citizens in all Iraqi governorates.”

STATUS OF THE RV, PART 2 BY MNT GOAT

 STATUS OF THE RV, PART 2

😊Take a look at the article titled “THE GOVERNMENT IS ACCELERATING DIGITAL TRANSFORMATION. HISTORIC GROWTH IN ELECTRONIC PAYMENTS AND FINANCIAL INCLUSION IN IRAQ.” A government source revealed, on Monday (July 7, 2025), the steps taken by the Iraqi government in the field of developing and promoting electronic payments, 

noting that since the Iraqi government assumed its duties more than two and a half years ago, the importance of a strong and effective banking system has become clear to it, as developing electronic payments and increasing financial inclusion in the country are considered among its most prominent features.

😊Then there is also article titled “LOCALIZATION OF PRIVATE SECTOR SALARIES, RAPID PAYMENT, AND COLLECTION… AL-SUDANI ISSUES BANKING DECISIONS. ” The number of bank accounts has reached approximately 20 million, compared to 8 million in 2022, a growth of more than 150%.  “the digital transformation rate of Iraqi ministries and institutions has increased to approximately 32%, after it was less than 18% in 2022, with a growth rate of 78%.”  “the number of bank cards 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 devices reached approximately 62,000 devices, up from less than 10,000 devices in 2022, representing a growth rate of up to 520%. “data indicates that the financial inclusion rate in Iraq has reached approximately 40%, up from less than 10% in 2019.”

So now we see close to 40- 50% of the population have gone digital. We all know that there are about 47 million Iraqis in Iraq. Remember kids don’t carry debit cards or transact purchases, so Iraq is very close, if not on target. We read articles telling us that they are where they want to be with this digital transformation (or inclusion as they call it). Why else would they tell us this news over and over again? Remember that I told you this is an uphill battle for Iraq as the U.S. is using Iraq to get to Iran. The IMF, World Bank, the UN and many other global entities are telling us Iraq is ready to go global. They support Iraq going global. So why have they now yet reinstated the dinar back on FOREX?

Remember this if nothing else from today’s takeaway: Iraq was freed of all UN Chapter VII sanctions in December of 2022, then shortly afterwards the U.S. slapped on sanctions on major Iraq banks, thus controlling the dollar. Why? The U.S. needed to justify it’s stronghold on Iraq somehow. It just can’t let go, not yet with the Iranian situation looming. But Iraq is fighting back. Let’s see how.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

FIREFLY: the dinar is gaining against the dollar in our country.‪@DINARREVALUATION‬ #iraq #iqd

 

GOVERNMENT ADVISOR: THE GOVERNMENT HAS SUCCEEDED IN MANAGING FISCAL POLICY

GOVERNMENT ADVISOR: THE GOVERNMENT HAS SUCCEEDED IN MANAGING FISCAL POLICY.

The Prime Minister’s financial advisor, Mazhar Mohammed Salih, explained on Friday the reasons for the delay in submitting the budget schedules, while stressing that the government has succeeded in managing the country’s financial and economic policy.

Saleh said, “The financial compass reading, which required the submission of the 2025 budget tables for legal approval under Article 77/Second of the Budget Law, was truly delayed for two fundamental reasons:

1.The first was to await the amendment to the three-year general budget law regarding the value of the region’s oil contracts and the costs of transporting its oil, which were not approved until last February.

2.The other reason relates to the fluctuations that global energy markets were exposed to and the effects of global oil prices on the general budget, which also required rereading some financial constants and variables, whether revenues, expenditures, deficit financing and its sources, more than once due to international geopolitical and economic problems and the major issues that occurred in the global economy at a rapid pace, which led to the generation of volatile shocks in close periods of the current fiscal year, which necessitated hedging against external shocks.”

He added that “all these factors led to the delay in submitting budget schedules to review some of its inputs and outputs,” noting that “there is significant and ongoing cooperation between the legislative and executive authorities in monitoring and managing the country’s financial affairs, with understanding, interaction, and optimization of great importance to ensuring the economic stability the country is experiencing.”

Regarding the impact of delayed budget schedules on projects included in the investment section, Saleh pointed out that, “Based on the Federal General Budget Law No. 13 of 2023, the three-year budget, the federal financial policy was formed based on an approach called ‘fiscal space’, which gave it the high capacity to move dozens of approved and previously suspended strategic government projects forward into implementation. This is what distinguished it with a highly active development wheel in implementing service projects that the country is witnessing without interruption, and its results have become tangible thanks to the success of the three-year budget, in addition to the major projects approved in the 2023 and 2024 budget schedules, which are currently ongoing without interruption.”

He stressed that “the state’s investment approach is proceeding in line with the sustainability of economic development and in accordance with the high positive results currently achieved in growth rates and the great economic stability that the country is witnessing, whether in terms of declining unemployment rates, increasing economic growth, and price stability, in an active and compatible trilogy achieved as a result of the success of the country’s financial and economic policy without interruption in the wheels of public spending, including the current year 2025.”

He continued, “As far as the rights and entitlements acquired in the operational aspect of the general budget are concerned, but have not been disbursed and are contingent upon the submission of the 2025 financial schedules, these are legally protected rights reserved for their beneficiaries and are not subject to statute of limitations. They are merely a matter of timing and will be disbursed upon the approval of these schedules or any adjustment that does not conflict with the law.”

SANDY INGRAM: The IQD Currency Boom Key? The IMF Article VIII

 SANDY INGRAM: The IQD Currency Boom Key? The IMF Article VIII

Summary

In this video, Sandy Ingram discusses the current status and future potential of the Iraqi dinar (IQD) as an investment, focusing particularly on the currency’s prospects for floating freely on the open market. 

Iraq’s considerable oil reserves and ongoing reconstruction efforts underpin its medium-term economic outlook.

 However, before the dinar can become a viable currency for widespread international trade and investment, Iraq must meet certain financial and regulatory standards, including gaining Article 8 status under the International Monetary Fund (IMF) framework. Article 8 status would signify Iraq’s commitment to open and fair currency exchange policies, boosting investor confidence and integrating the country into the global economy.

The video explains Article 8 in detail, highlighting its role in preventing countries from imposing restrictions on current payments and unfairly discriminating against foreign exchange dealings. While Iraq has not yet achieved Article 8 status, consultations have taken place, and the government is working to modernize its banking system, limit black market activities, and strengthen official currency channels. These efforts are crucial to the dinar’s long-term appreciation.

For investors seeking quicker returns, Sandy suggests looking beyond the Iraqi dinar and considering the Indian rupee (INR). India’s rapidly growing economy, burgeoning tech sector, and increasing foreign investment have created a favorable environment for short-term currency gains. The government’s push for digital infrastructure and payment systems enhances the rupee’s stability. Sandy recommends purchasing physical Indian rupees from reputable sources and holding them until the exchange rate improves against the US dollar. This strategy offers investors a more immediate return compared to the longer-term potential of the Iraqi dinar.

Highlights

• 💰 The Iraqi dinar (IQD) is considered a medium-term investment due to Iraq’s rebuilding and economic modernization efforts.
• 🏦 Article 8 status under the IMF is crucial for Iraq to enable open and fair currency exchange practices.
• 🌍 Article 8 aims to eliminate restrictions on current payments and prevent discriminatory currency actions.
• 📈 Iraq currently does not have Article 8 status but is in consultations and working toward it.
• 🇮🇳 For short-term returns, the Indian rupee (INR) is recommended due to India’s fast-growing economy and tech sector.
• 💳 India’s focus on digital payments and infrastructure upgrades supports currency stability and growth.
• 🏪 Investors can buy physical Indian rupees from reputable online stores for potential quick gains.

Key Insights

• 🛢️ Iraq’s Oil Wealth as a Foundation for Currency Value: Iraq’s vast oil reserves, among the largest globally, are a fundamental driver of the country’s economic potential. Oil revenues bring substantial foreign currency inflows, essential for stabilizing and strengthening the dinar. However, oil wealth alone is insufficient; economic diversification and effective governance are necessary for sustained currency appreciation. The rebuilding of Iraq’s infrastructure and financial systems will critically influence the dinar’s future value.

• 📜 Significance of Article 8 for Currency Convertibility and Investor Confidence: Article 8 of the IMF agreement is a benchmark showing a country’s commitment to open currency policies. It bans restrictions on current payments and discriminatory currency practices, fostering trust among international investors and traders. Achieving Article 8 status can lead to increased foreign investment and smoother currency trading. Iraq’s failure to secure this status so far has limited the dinar’s appeal to global markets, but ongoing consultations suggest progress is being made.

• 💹 Impact of Black Market and Exchange Controls on Currency Stability: Iraq’s government efforts to curb black market currency trading and strengthen official exchange channels are critical for improving the dinar’s reliability. Black market activity undermines official exchange rates and investor confidence, creating volatility and uncertainty. By tightening controls and promoting transparency, Iraq can better regulate its currency and attract foreign investors, which is essential for the dinar’s growth potential.

• 🇮🇳 Indian Rupee as a Short-Term Currency Investment Opportunity: The Indian rupee offers a compelling alternative for investors seeking quicker returns. India’s fast-growing economy, driven by a booming technology sector and substantial foreign investment, increases demand for the rupee. This makes it a more liquid and attractive currency for traders aiming for short-term profits. Additionally, India’s government initiatives to promote digital payments and modern infrastructure bolster economic stability, reducing some risks associated with currency investments.

• 💻 Digital Payments and Infrastructure as Currency Stabilizers: India’s focus on digital payment systems and infrastructure development plays a vital role in strengthening the rupee’s value. Digital transactions increase transparency and reduce informal economic activity, which can destabilize currencies. Infrastructure upgrades enhance economic productivity and investor confidence. These structural improvements provide a foundation for sustained currency appreciation, making the rupee more resilient against external shocks.

• 🏦 Physical Currency Acquisition as an Investment Strategy: The recommendation to buy physical Indian rupees and hold them until the exchange rate improves is a practical strategy. Unlike forex trading, which can be complex and risky, purchasing physical currency offers a tangible asset that investors can control. Buying from reputable online stores ensures authenticity and convenience. This method allows investors to capitalize on currency appreciation without needing extensive knowledge of financial markets.

• 🌐 Global Economic Integration and Currency Valuation: The video underscores the importance of integrating into the global economy for currency valuation. For Iraq, achieving Article 8 status and modernizing financial systems are pathways to this integration. For India, existing global ties and rapid economic growth have already enhanced the rupee’s standing. Countries that embrace open currency policies and transparent financial practices tend to attract more foreign investment, leading to stronger and more stable currencies. This principle applies broadly and highlights the importance of political and economic reforms in currency markets.

Overall, the video provides a balanced view of the Iraqi dinar’s long-term potential and the Indian rupee’s short-term opportunities, offering investors informed options based on economic fundamentals and regulatory frameworks.

GROUP PAYOUTS AT REDEMPTION CENTERS: Dinar/Dong = double-digit USD , Notification Phase underway