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The book "Monetary Policy in Iraq, Monetary Stability Methodology, and Digital Transformation 2023-2025" by Iraqi economic and banking advisor Samir Al-Nusairi was recently published by the Balit Center for Printing and Publishing in Baghdad. Copies of the book were deposited at the National Library and Archives in Baghdad for the year 2025.
This is the author's thirteenth book during his twenty-year career in executive banking and as a consultant to the boards of directors of Iraqi private banks. This is preceded by an accumulated economic background and experience of thirty years in governmental economic institutions and important participations in local, Arab and international conferences, during which he won dozens of awards and certificates of appreciation and honor. He also published more than 700 specialized articles on economic and banking reform in Iraqi, Arab and international magazines and newspapers, and gave many lectures to Iraqi university students and participated in their annual scientific conferences.
In all his published books, the author has been keen to document and archive the journey of challenges, achievements, policies, procedures and applications of monetary policy of the Central Bank of Iraq, especially for the period (2003-2025). Dr. Governor of the Central Bank, Ali Mohsen Al-Alaq, reviewed the contents of the book and expressed his thanks and appreciation to Al-Nusairi, wishing him success and urging him to give more in serving the Iraqi economy and banking sector. Professor Dr. Khalil Muhammad Hassan Al-Shamaa also evaluated and valued Al-Nusairi's scientific efforts and gave a detailed presentation of the chapters and topics of the book, including its narratives, proposals and solutions to the challenges and obstacles to achieving monetary and financial stability, as well as the achievements of the Central Bank, with government cooperation and support, in the transition from a cash economy to a digital economy during the years (2023-2025). The evaluation praised the book's inclusion of the most important strategies and policies adopted by the Central Bank of Iraq, as it represents a precise scientific journey by Al-Nusairi that focused on economic and monetary developments in Iraq.
The new book includes five chapters and thirty-three sections. All of these chapters emphasize that economic reform begins with banking reform.
In the first chapter, he was able to conduct a precise and comprehensive analysis of the opportunities, challenges, and steps taken by the Central Bank of Iraq to pursue monetary stability, while reviewing the foundations of monetary policy for the years (2023-2024), so that he can complete the banking reform process in 2025 in the new book.
The second chapter comprehensively covered electronic payments, linking digital transformation with the development of electronic payment programs, along with activation projects. It intelligently explored the relationship between current and future payment system development projects, and provided an assessment of the relationship between this effort and information assessment, cybersecurity, and artificial intelligence.
In the third chapter, he focused his efforts on the Central Bank of Iraq's third strategy, defining the strategy's objectives and reform methodology, and addressing key issues such as regulating foreign trade financing, lending strategy, foreign reserve management and hedging policies, improving investment, and sources of monetary policy. In this chapter, Al-Nusairi was able to link the many banking areas and activities addressed by the reform plan.
Chapter Four discusses how government support for the banking reform project can be provided, as well as the International Monetary Fund's support for the reform plan, with a focus on international economic relations and the government and Central Bank of Iraq's vision for the comprehensive banking reform process.
In the fifth chapter, he addresses the causes of exchange rate fluctuations and recovery measures, emphasizing the relationship between the exchange rate, the financial and banking reform process, the relationship between the official and parallel dollar exchange rates, government decisions, and strategies for enhancing confidence in the banking sector. Thus, the author was able to expertly compile a synthesis of contemporary topics. At the end of the book's presentation, we wish Counselor Samir Al-Nassiri continued success in this successful academic journey.
If you come out at $1.30 to 1 that's better than 1 to 1. But if you forget about the concept of a float and come out at a fixed rate...at $3.22...it would be tangible to the other currencies in the Middle East.
But the other currencies want a basket so they can drag the dinar and themselves up past what they are right now, into the $4.00 range...
Russia is actively expanding its oil interests in Iraq, capitalizing on opportunities created by Baghdad's need to modernize its hydrocarbon sector and boost crude exports.
He Just sent me this from the IMF. And for thoes that do not think the Parallel Market matters, read what the IMF wrote.
And regarding the exchange rate, they wouldn’t post a new rate publicly 1st.
The Executive Board of the International Monetary Fund (IMF) issued a statement on Wednesday (9th July) following the conclusion of its Article IV consultation with Iraq.
It projects an average exchange rate (dinar per US$) in each of 2025 and 2026 of 1300, the same as for 2024, adding:
"The CBI [Central Bank of Iraq] should be commended for the successful transition to the new trade finance system now fully managed by commercial banks through their CBRs, contributing to a reduction in the spread between the official and parallel market exchange rates."
