News, Rumors and Opinions Thursday 2-26-2026
KTFA
Clare: The Central Bank of Iraq launches a new initiative to expand the capacity of private banks to support international trade.
2/26/2026
The Central Bank of Iraq announced on Thursday the launch of a new initiative to expand the ability of private banks to support international trade by allowing them to resume cross-border transactions and issue letters of credit in several foreign currencies.
In a statement today, the bank indicated that it had completed the main step in the comprehensive reform process for commercial and Islamic banks and branches of foreign banks by submitting the documents required for review in accordance with the "minimum requirements," which were summarized as choosing one of three paths: "continuing in the market as independent banking institutions, merging with other banking institutions, or exiting the market."
The statement affirmed that “all Iraqi banks have submitted the required documents according to the path they chose, allowing the Central Bank to assess their level of compliance with the minimum requirements,” noting that “during the coming months, the banks will work to address any identified gaps and will strive to achieve full compliance with the reform standards.”
The Central Bank of Iraq also announced in its statement the launch of "a new initiative to expand the ability of private banks to support international trade for their clients, whereby banks that meet specific criteria according to the assessment of the Central Bank of Iraq will be allowed to resume cross-border transactions and issue letters of credit in several international currencies, including the Euro, the UAE Dirham, the Chinese Yuan, the Jordanian Dinar, and others," explaining that "this step comes as a continuation of the path drawn by the Central Bank of Iraq to enhance confidence in the future of the Iraqi economy and the global interconnectedness of the financial sector, and to lead sustainable growth for Iraq." LINK
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Clare: Yazan Mishaan al-Jubouri was arrested on charges of impersonation and embezzling 41 billion dinars.
2/26/2025
Iraqi politician Mishaan al-Jubouri announced early Thursday morning that his son, Yazan Mishaan al-Jubouri, had been arrested by a special security force that raided his home and taken him to an undisclosed location.
Al-Jubouri indicated in a tweet on the “X” platform that the operation was carried out based on an arrest warrant issued by the judge of the Karkh Investigation Court.
In addition, an official document issued by the Supreme Judicial Council/Presidency of the Baghdad Al-Karkh Court of Appeal/Central Anti-Corruption Criminal Court, dated 2/25/2026, showed the issuance of an arrest and search warrant against Yazan Mishaan Rakan Damin Al-Jubouri.
According to the document, the type of charge against him is “impersonating a civil service position” and entering into public service work “without permission or a capacity that authorizes him to do so in order to achieve material benefits,” and taking a sum of money amounting to 41 billion dinars, in accordance with the provisions of Resolution 160 of 1983 as amended.
The order stipulated that he be brought in as a detainee to take legal action against him, as he is accused in the complaint filed before the Central Anti-Corruption Crimes Investigation Judge. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Jeff Everything is up in the air. They're working towards revaluing the currency. They're working towards everything. The rate is very close to revaluing. There's just a small little delay in the mix.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Our Television showing the Iraqi citizens how to go from cash to digitization. They're calling it a quantitative step towards financial transparency. FRANK: That's big because...you got to bring in your foreign currency and become digitalized because that's how they're going to give you the new rate, the new lower notes...Your CBI is doing a final sweep of the American dollar in your country as they prepare to introduce the lower notes and the new rate...
Militia Man For those who have followed currency reforms you might remember this. Iraq's current phase mirrors Turkmenistan's transition back in 2009. Turkmenistan first reduced cash circulation...enforced official rates and built reserves. All those are things Iraq has done, reduced cash - Zane Cash, key card, electronic payments through the state - reduction. They enforced the official 1300 rates for three years...Three years of stacking reserves - gold, non-oil revenues, low inflation and note reduction...If all of this holds true, the data strongly suggests it does, the logical next step is a managed REER adjustment when the CBI deems prudent.
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