AN IRAQI BANK SWITCHES TO THE GLOBAL STANDARD “SWIFT MX”
(Old news…. )
The National Bank of Iraq announced that it has successfully completed the transition to the new global standard ” SWIFT MX ” for financial messages, in a step that constituted a significant milestone
in the bank’s technological infrastructure modernization and enhanced readiness for digital transformation.
The bank said in a statement, “The implementation of this transformation comes as part of the bank’s transition from the old MT standard to the MX ISO 20022 model , which is the most advanced, structured and data-rich framework in the global financial messaging sector.
The transformation process was carried out across all operational channels with high efficiency and minimal downtime, reflecting the bank’s strong technical readiness, accurate planning, and commitment to providing its services without any significant interruption.”
He pointed out that “this transformation is an advanced step within the strategic roadmap of the National Bank of Iraq to modernize its systems, enhance its compatibility with global best practices, and provide an advanced digital banking experience for its individual and corporate clients.”
➡️ That is questionable — and not necessarily required.
🏛️ Caretaker Government Explained
Jeff explains that while Iraq’s government is still in the formation phase, it operates as a caretaker government.
What does that mean?
The caretaker government:
Has limited access to Iraq’s funds
Has restricted authority over spending
However, this does NOT limit the Central Bank
This distinction is crucial.
🏦 Central Bank of Iraq (CBI): Fully Autonomous
Jeff emphasizes a critical fact often misunderstood:
The Central Bank of Iraq can change the value of the currency whenever it wants.
Why?
Because the CBI is autonomous:
It operates separately from the physical government
It does not require parliamentary approval
It does not depend on cabinet completion
This autonomy gives the CBI full authority over:
Exchange rates
Monetary policy
Currency valuation
🔄 Does a Completed Government Matter?
Jeff is transparent:
“We have no way of verifying that a fully completed government is required.”
There is no confirmed rule, legal requirement, or precedent that says Iraq must wait for:
A seated prime minister
A fully voted cabinet
A completed parliamentary structure
🌍 What Really Happened Last Weekend?
Jeff offers a powerful interpretation of recent events:
🏆 A “Graduation Ceremony” Moment
He describes last weekend as:
A public graduation ceremony
Iraq achieving:
Sovereignty
Stability
Officially announced to the world by the United Nations
Why Is This Important?
According to Jeff:
The UN announcement was the final global signal
This recognition was necessary before the rate could change
Once announced, the pathway was cleared
💱 Jeff’s Opinion: The Rate Has Already Changed
Jeff concludes with a strong statement:
“IMO, it did. It happened last weekend.”
In his view:
The monetary shift is already complete
Any delay now is procedural, not structural
The world has been officially notified
📈 Why This Intel Matters for Dinar Watchers
Jeff’s explanation confirms several key points:
Currency reform is monetary, not political
The CBI holds the power, not parliament
Sovereignty recognition is more important than cabinet votes
Public UN acknowledgment is a major trigger event
⭐ Featured Snippets
Does Iraq need a fully formed government to change the dinar rate? No. According to Jeff, the Central Bank of Iraq is autonomous and can change the currency rate independently of government formation.
Who controls Iraq’s currency value? The Central Bank of Iraq controls the currency value and operates separately from the physical government.
What was the significance of last weekend? Jeff believes Iraq’s sovereignty and stability were publicly recognized by the UN, clearing the way for the rate change.
❓ Q&A Section
Q: Can a caretaker government approve a rate change? A: The caretaker government does not need to approve it. The CBI has full authority.
Q: Is there proof a full government is required? A: No verified rule or confirmation exists.
Q: Why does the UN announcement matter? A: It publicly signals global recognition of Iraq’s sovereignty and readiness.
Q: Has the rate already changed? A: In Jeff’s opinion, yes — it occurred last weekend.
Jeff’s intel removes one of the biggest mental roadblocks in this journey.
The CBI is ready. The world has been notified. And politics is no longer the gatekeeper.
Stay grounded, stay informed, and stay ready.
Jeff
Question: "Do they have to have a fully formed completed government to change the rate?"
That's questionable. While the government is in a forming state, they're considered a 'caretaker'. They have very limited access to Iraq funds and monies...The Central Bank can change the value of the currency whenever they want.
Why? Because the central bank is autonomous separate from the physical government...
Do they have to have a formed completed government before the rate can change?
We have no way of verifying that.
What happened last weekend was like a graduation ceremony of achieving sovereignty and stability that had to be publicly announced to the world by the UN before the rate could change, IMO, and it did. It happened last weekend.
RESEARCH CENTER: IRAQ IS AT A PIVOTAL MOMENT TO ADDRESS ITS ECONOMY AND REVIVE THE PRIVATE SECTOR
The “ Center for Research and Strategic Studies ” stated that Iraq needs a “realistic diagnosis of its economic imbalances” in order to implement appropriate reform prescriptions, a step that will not succeed without a strong private sector, instead of relying on the state, which acts as if it is the sole engine of the economy, meaning that the country is facing a “pivotal moment.”
The Jordan-based “Links Center” said in a report translated by Shafaq News Agency that the Iraqi economy has suffered for many years from a clear paradox: it possesses large financial resources, but its ability to transform these resources into real and sustainable development is weak.
The center explained in its report that the relative financial stability that Iraq is witnessing today does not necessarily mean the soundness of the economic structure, but rather hides behind it accumulated structural imbalances resulting from excessive dependence on oil, the inflation of the role of the state, and the weakness of economic and administrative institutions,” adding that “any serious talk about reforming the Iraqi economy must start from a realistic diagnosis of these imbalances before moving on to reform prescriptions.”
According to the report, successive governments have succeeded in managing short-term stability by expanding public spending, taking advantage of oil revenues and high cash reserves. However, this approach has created a fragile economy that depends more on oil shocks than on production.
He continued, saying that public budgets have ballooned significantly since 2004, not as a result of growth in the productive base, but due to the expansion of operating expenses, especially salaries and subsidies, which has made the state the largest employer and source of income in the country. This has imposed a constant burden on public finances and limited the government’s ability to direct resources towards long-term investment and development.
The report argued that the economy cannot become a productive economy as long as government employment remains a substitute for real job opportunities in the private sector, adding that reforming the salary scale and linking wages to productivity, along with redefining the role of the state from a direct employer to a regulator and supporter, represents a fundamental step in the path of reform.
The report considered the social support system to be another example of structural dysfunction, explaining that the comprehensiveness of the support, despite its social importance, led to a great waste of resources and reduced the effectiveness of social protection.
He added that reform does not mean reducing support as much as it means redirecting it towards the most needy groups, and linking it to real economic empowerment policies that open the way for work and production instead of permanent dependence on subsidies.
The report stated that the energy sector represents one of the most prominent structural challenges that drain public finances and hinder growth, noting that the huge spending on electricity has not succeeded in providing a stable service, due to imbalances in management, governance and collection.
He pointed out that the continued flaring of associated gas is a glaring example of mismanagement of resources, as Iraq loses billions of dollars annually that could have been turned into a source of energy, income and job opportunities. Therefore, the report concluded that real reform in this sector requires a comprehensive restructuring, not partial or temporary solutions.
The report continued, stating that Iraq possesses important strengths, most notably monetary stability, high foreign reserves, and low inflation. However, these indicators will remain of limited impact unless they are translated into real growth in the real economy, which requires a radical reform of the banking sector to enable it to finance investment and production, and not just be an intermediary for trading liquidity.
The report concluded by saying that no economic reform in Iraq can succeed without a strong and effective private sector, explaining that the state is no longer able to continue as the sole engine of the economy.
He added that “what is required is a stable business environment that protects the investor, reduces bureaucracy, and provides clear and fair rules for competition, as the efficient private sector is not a substitute for the state, but rather a key partner in achieving development.”
The “Links Center” report concluded that the Iraqi economy stands today at a pivotal moment. Either the current financial stability will be invested in launching real structural reforms that rebuild the economy on the foundations of production and diversification, or dependence on oil and public spending will continue, with all the future risks that entails. It concluded by saying that “reform is not just a political option, but an economic necessity to ensure stability and development for future generations.”
In the latest Frank26 intel update, Firefly delivers critical boots-on-the-ground confirmation from inside Iraq, highlighting major political developments, rising internal pressure on militant groups, and growing international involvement as Iraq prepares for a pivotal parliamentary session.
This report strongly signals structural and political alignment, a necessary step toward long-term monetary and economic reform.
🏛️ Iraq Parliament Update: First Session Confirmed
🔹 Firefly Reports from Iraqi Television
According to Iraqi television broadcasts:
The House of Representatives has completed all technical and logistical preparations
The first session of the 6th parliamentary term is officially scheduled for:
📅 Monday, January 29th
This marks a critical milestone in Iraq’s political stabilization process and demonstrates readiness to move forward with governance reforms.
“All preparations are complete. Parliament is ready.”
⚔️ Militias & Disarmament: A Nation at a Crossroads
Firefly also reported escalating public discussion regarding militant groups and weapons disarmament, a long-standing obstacle to Iraq’s sovereignty.
🔻 Two Opposing Positions Emerging
Approximately half of militant factions are now stating:
They are willing to give up their weapons
The other half strongly refuses, stating:
Disarmament is not negotiable
Weapons will only be surrendered if they are given political power
Some openly demanded control over:
The Presidency
The Prime Minister’s office
This public divide is being openly discussed on Iraqi television—something rarely seen before.
🌍 International Pressure: Israel & The United States
Firefly confirmed increased international attention:
Israel publicly stated they have:
Warned for years about the danger posed by armed militant groups
The United States responded by:
Asking Israel to stand down for now
Confirming the U.S. will handle the situation
This indicates direct U.S. oversight in maintaining stability during Iraq’s sensitive transition period.
🗣️ Frank26 Analysis: “Just Huffing and Puffing”
Frank26 offered a clear and confident assessment:
“That’s just huffing and puffing… Israel will obey Trump.”
Frank believes:
The militants’ threats are posturing
They will not succeed in controlling Iraq’s political future
Ultimately, militant groups will:
Remove themselves
Be sidelined by internal and external pressure
This aligns with prior intel suggesting that armed factions must be neutralized before Iraq can fully move forward economically and financially.
📈 Why This Matters for Iraq’s Economic & Monetary Future
Political stability is a non-negotiable prerequisite for:
Monetary reform
Currency confidence
Foreign investment
International banking integration
The formation of parliament and the
forced resolution of militia influence represent foundational steps toward:
Sovereignty
Rule of law
A modern financial system
⭐ Featured Snippets
When is Iraq’s next parliamentary session? Iraq’s first session of the 6th parliamentary term is scheduled for Monday, January 29th, with all logistical and technical preparations completed.
Are Iraqi militias being disarmed? Yes. About half of the militant groups are reportedly willing to disarm, while others resist unless granted political power.
Is the U.S. involved in Iraq’s security situation? Yes. The United States has asked Israel to stay out temporarily and stated it will handle the situation directly.
❓ Q&A Section
Q: Why is the January 29th session important? A: It formally launches Iraq’s new parliamentary term and signals readiness for governance and reform.
Q: Are militias losing influence in Iraq? A: Increasing pressure, public debate, and U.S. involvement suggest their influence is being challenged.
Q: Could this impact Iraq’s currency reform? A: Political stability and sovereignty are essential precursors to economic and monetary reform.
Q: Does Frank26 believe the situation will escalate? A: No. Frank believes the militants are posturing and will ultimately stand down.
Iraq is approaching a defining political moment. Parliament is ready. International forces are aligned. Militant pressure is being exposed.
As Frank26 suggests, the noise may be loud—but the outcome appears inevitable.
Stay alert. Stay informed.
More updates coming soon.
Frank26
[Iraq boots-on-the-ground report]
FIREFLY:They say on television this about the first parliament meeting that's is going to be formed on the 29th. The House of Representatives has completed all technical and all logistical preparations for holding the first session of the 6th parliamentary term. It is scheduled for next Monday.
FIREFLY:We see on television last night about half of the militants are saying they will give up all of their weapons. And then unfortunately we see the other half saying disarmament is not a discussion. They will never give up their arms. Some were saying if they would give up their arms only if you give us the president and prime minister that we want. Now we see Israel speak up saying they have been warning for a long time to take care of this problem with the militants. The Untied States of America has asked Israel to stay out for now saying the USA will handle this.
FRANK: That's just huffing and puffing... Israel will obey Trump...I believe [the militants] will remove themselves.
THE TRUMP ADMINISTRATION IS CHANGING THE RULES OF WAR IN IRAQ: A SOFT POWER STRATEGY TO WRITE A NEW CHAPTER
The US Congress’s vote to revoke the 1991 and 2002 authorizations for the use of military force against Iraq represents a significant shift in the relationship between Baghdad and Washington, after more than three decades in which Iraq’s name was legally associated with a state of open war.
The decision, which was included in the National Defense Authorization Act of 2026, raised fundamental questions about its political and security implications, and the extent of its actual impact on Iraq’s sovereignty, internal stability, and foreign relations.
While the Iraqi government sees the move as the culmination of a long process of restoring sovereignty and ending the legacy of wars, experts and analysts argue that the cancellation does not mean a complete withdrawal of American influence, but rather reflects a shift from the logic of direct military intervention to other tools, security and economic, that may be more influential in the next stage.
Iraqi government spokesman Bassem al-Awadi, speaking to Shafaq News Agency, merely referred to the Iraqi Foreign Ministry’s statement as Baghdad’s clear official position regarding the American decision.
The State Department described the US Congress’s vote to revoke the two authorizations as “historic” on Wednesday, December 17, 2025, considering it a fundamental turning point in changing the legal nature of the relationship between the two countries.
The ministry confirmed in a statement received by Shafaq News Agency that the cancellation establishes a new form of relations based on respect for Iraq’s sovereignty, ending the legacy of war, and strengthening the framework of strategic partnership, which sends a positive message to the international community that Iraq has become a safe and attractive environment for investment.
The Iraqi Foreign Ministry stressed that this decision does not undermine counter-terrorism efforts, explaining that the 2001 mandate to combat al-Qaeda and associated terrorist groups remains in effect, while affirming Baghdad’s commitment to developing bilateral relations in a way that serves the interests of both countries and the stability of the region.
From conflict to partnership
In this regard, the Prime Minister’s Advisor for Foreign Relations, Farhad Ala’a Al-Din, believes that the decision to cancel the authorization to use force against Iraq represents an important political and legal step, reflecting the fact that Iraq today is a fully sovereign state, and that the stage of war is now a thing of the past.
Alaa al-Din explained to Shafaq News Agency that the decision confirms the shift in the relationship with Washington from a logic of conflict to a logic of partnership and mutual respect, noting that its security implications are represented in strengthening the principle of sovereignty, supporting political stability, and establishing a normal relationship between the two countries.
A message of reassurance
For his part, security expert Sarmad Al-Bayati considered the decision to have a dual importance, as it carries a clear message to the international community and to the Iraqi interior that the country is no longer threatened by an imminent military danger.
Al-Bayati told Shafaq News Agency that the importance of the decision lies in confirming that Iraq is now safe and does not need foreign military intervention as was the case in previous years, noting that the cancellation gives the Iraqi government momentum and strength in managing state affairs without pressures related to the possibility of using military force.
He explained that the decision contributes to strengthening internal and external stability, and undermines any perceptions or possible scenarios of military interventions by other countries under the pretext of the security situation in Iraq.
military independence
In the same security context, a high-level security source confirmed to Shafaq News Agency that Iraq is increasingly relying on its own capabilities, especially in the air domain, where military operations are managed and airstrikes are carried out under full Iraqi management, with a remarkable development in arming the army.
This comes in light of the announcement by the US-led Combined Joint Task Force on November 5, 2025, that the Iraqi armed forces had obtained full certification to carry out independent airstrikes, after achieving 100% targeting accuracy using F-16 and AC-208 aircraft.
The US Central Command (CENTCOM) said in a statement received by Shafaq News Agency that this achievement is a historic step towards Iraq becoming self-reliant in confronting ISIS, stressing the decline of the organization’s traditional threat and the dispersal of its fighters.
Change tools
For his part, political analyst Ramadan Al-Badran explained that the decision to cancel the mandate is inseparable from the broader American strategy based on avoiding direct military intervention with invasion forces in different parts of the world. Al-Badran told Shafaq News Agency that the lack of need for such authorization in the Iraqi case is one of the reasons for the cancellation, in addition to granting the US president different powers to manage limited tactical operations targeting any threats to the security or interests of the United States or its allies.
He pointed out that one of the most prominent features of this shift is the increasing reliance on small drones, especially in the Middle East, which means withdrawing authorization to use conventional armies without reducing Washington’s ability to act to protect its interests.
This comes in conjunction with the announcement by the US Central Command, at the beginning of December 2025, of the formation of a new task force for attack drones in the region.
alternative economy
From an academic perspective, Haitham Al-Hiti, a professor of political science at the University of Exeter in Britain, found that the cancellation of the authorization to use force against Iraq represents the beginning of a new phase in which the American state of war with Iraq officially and completely ends.
However, Al-Hiti warned, in his interview with Shafaq News Agency, that this shift does not necessarily mean a reduction in American pressure, but rather a shift to the economic and financial sphere.
He pointed out that any future problem between Baghdad and Washington could be managed through sanctions or financial accountability tools, given the United States’ control over important aspects of the global financial system.
He said the decision coincided with the US Department of Defense being granted the authority to reduce security assistance by up to 50%, reflecting a clear trend to focus on economic rather than military dealings.
Al-Hiti concluded that the biggest challenge facing Iraq in the next stage will be economic and financial, in light of population growth, the accumulation of debts, and the problems of corruption and random employment, which Washington is well aware of and seeks to deal with through non-military means.