TNT:

Tishwash: Iraq's gold reserves rise to more than 17 trillion dinars

The Central Bank of Iraq announced, on Sunday, that it recorded a growth in its gold reserves by 45.1% in the fourth quarter of 2024 compared to the same quarter of the previous year.

The bank stated in a statement today that its gold reserves "increased from 12.29 trillion dinars in the fourth quarter of 2023 to 17.83 trillion dinars for the same quarter in 2024 as a result of the increase in the quantity of gold and gold prices.

The statement added, "This has many benefits, as it enhances economic and financial stability, protects against risks, and is considered an important tool for intervening in the foreign exchange market." link

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Tishwash: The Federal Finance will begin funding February salaries for the region’s employees within two days

An informed source revealed, today, Sunday (March 2, 2025), that the Federal Ministry of Finance will begin financing the salaries of Kurdistan Region employees within the next two days.

The source told Baghdad Today, "The lists sent by the regional government have been audited, and the financing of employees' salaries in Kurdistan will begin within the next two days, after all the problems."

He added, "The Federal Ministry of Finance will send 950 billion dinars to finance February salaries, after which the regional government will announce a schedule for disbursing salaries."

Yesterday, Saturday (March 1, 2025), a responsible Kurdish source stated that the Ministry of Finance will send February salaries to the region’s employees in the middle of next week, confirming that there is a problem with the agreement between the region and the center.

It seems that the source expressed his fear to "Baghdad Today", saying, "The regional government did not abide by the terms of the agreement with Baghdad, and this may cause problems with salaries."

Meanwhile, the member of the Kurdistan Justice Party, Ribwar Muhammad Amin, confirmed earlier that the federal banks had expressed their readiness to localize the salaries of Kurdistan employees, presenting the argument to the regional government. link

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Tishwash: Sudanese Advisor: Digital currency is a qualitative leap that improves oversight and supports combating money laundering

The financial advisor to the Prime Minister, Mazhar Mohammed Salih, praised, on Saturday, the Central Bank of Iraq’s move towards issuing a digital currency, considering it a qualitative leap that enhances transparency and control over financial flows, improves oversight of capital and foreign transfers, and supports efforts to combat money laundering.

Saleh said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", that "the Central Bank is moving towards issuing a digital currency as a gradual alternative to paper currency," indicating that "this trend represents a qualitative leap in the national digital payments system."

He added, "This step will achieve many benefits, including reducing cash leakage, lowering printing costs, and limiting the circulation of paper currency outside the banking system, in addition to reducing the need to print money repeatedly, which reduces the costs associated with its production and distribution, in addition to enhancing transparency and control over financial flows and the ability to track digital liquidity and spending trends, whether consumption, savings or investment, in addition to improving control over capital and foreign transfers, and supporting efforts to combat money laundering."

He pointed out that "digital currencies contribute to achieving financial inclusion, especially for groups less integrated into the banking system, which contributes to enhancing economic and social integration."

He stressed that "the transition to digital currency requires a strong technical infrastructure that includes reliable and advanced internet networks and advanced cybersecurity systems to protect data and transactions, in addition to promoting a culture of societal acceptance of digital currencies, starting with government agencies, through their use in collection operations and official transactions."

He explained that "digital cash will maintain its traditional functions as a unit of account, payments and savings, with the possibility of using it online and on smartphones, which will contribute to developing a more stable and efficient financial environment." link

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Mot: . Whoosh! Its March