Iraq Economic News and Points to Ponder Monday Evening 1-27-25

Specializations And Tasks

January 27, 2025       The competencies and tasks of the directorate
     
License of non -bank financial institutions

 All licensing applications are carefully examined according to the principle of equality between all requests, in order to ensure the availability of conditions that allow competition in the Iraqi market and keep pace with rapid developments in the global and local financial sectors, while achieving the utmost efficiency and transparency.

Supervising and controlling non-bank financial institutions

This directorate works as a supervisory authority, as it adopts a flexible and contemporary monitoring approach that enables it to supervise and monitor to ensure success in the Iraqi financial sector.    https://cbi.iq/news/view/2778    

Laws, Regulations And Instructions

January 27, 2025       Laws, regulations and instructions

        The Iraqi Central Bank Law.
        The Anti-Money Laundering and Terrorist Financing Law No. 3 of 2015.
        Electronic payment services system No. 2 of 2024.
        Work controls for foreign remittances service providers for the year 2021.
        Working controls for exchange companies.
        Financial companies work controls.
  
https://cbi.iq/news/view/2777   

Gold Prices Stabilize In Baghdad

Energy   Economy News – Baghdad  The prices of "foreign and Iraqi" gold stabilized in the local markets in the capital, Baghdad, today, Monday, recording the same prices that were monitored yesterday.

Gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, this morning recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 584 thousand dinars, and a purchase price of 580 thousand dinars.

The selling price of one mithqal of 21-karat Iraqi gold reached 554 thousand dinars, and the purchase price was 550 thousand.

As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranges between 585,000 and 595,000 dinars, while the selling price of a mithqal of Iraqi gold ranges between 555,000 and 565,000 dinars.   https://economy-news.net/content.php?id=52317

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Monday Evening 1-27-25

Good Evening Dinar Recaps,

DEEPSEEK AI DEBUT SPARKS CRYPTO MARKET SELL-OFF AMID RISING TECH COMPETITION

The release of DeepSeek, a Chinese artificial intelligence (AI) model designed to rival OpenAI's ChatGPT, triggered a sell-off in U.S. tech stocks, bringing crypto down too. But analysts say cheaper AI may actually be good news for the space.

This advanced model is reportedly faster and cheaper than its American counterpart, offering features such as natural language processing and integration capabilities that position it as a direct competitor in the global AI arms race. 

Cheaper AI models benefit both crypto and broader AI consumers by lowering the cost barrier to access advanced AI tools.

Over the past 24 hours, Bitcoin (BTC) fell by 4% to $100,000, while Ethereum (ETH) dropped by 6% to $3,100. Meanwhile, the total market capitalization of cryptocurrencies fell by 8%, dropping to $3.52 trillion, according to CoinGecko. Liquidations over the past 24 hours totaled nearly $1 billion, according to CoinGlass.

Knee-Jerk

The debut of DeepSeek, coupled with intensifying competition in the AI sector, is reshaping investor sentiment across both tech stocks and the cryptocurrency market. Investors are selling riskier assets as they take time to digest this new information and how it might affect their holdings.

Jean Rausis, co-founder of decentralized finance ecosystem SmarDex, noted that the drop in crypto prices is more of a knee-jerk reaction to tech news rather than a direct consequence of the DeepSeek release itself.

“Because crypto trades 24/7, it’s often the go-to when big tech news breaks and the US market is closed – even if it has nothing to do with Bitcoin or other cryptocurrencies,” Rausis said.

Crypto’s strong correlation with the Nasdaq underscores its position within the same investment category as tech stocks, Rausis added, explaining that both markets often respond similarly to major news due to shared investor sentiment and overlapping liquidity sources.

“Investors in crypto share the same mindset as tech stockholders, and the liquidity sources are often the same, so they often move in tandem when big tech news breaks,” he said. “It doesn’t really have anything to do with fundamentals – just sentiment.”

Long-Term Positive

Despite the initial panic, Rausis believes competition in AI is ultimately positive for consumers and aligns with crypto’s ethos of decentralization. “For traders, this volatility could just be an opportunity to buy in at a lower price,” he said.

Anthony Pompliano, Founder & CEO of Professional Capital Management, echoed Rausis’ sentiment in a post on X this morning. He said that while DeepSeek’s launch sparked uncertainty and volatility in the market, broader access to AI should be long-term positive.

“More companies are able to leverage the technology to create economic activity and drive GDP growth,” Pompliano wrote. “Individuals should be able to save time and become more effective at their jobs. And more problems will be solved. So Deepseek’s innovation will drive more use of AI, rather than less. This is all positive on a macro basis.”  

Fake DeepSeek Token

Amid the market drop, a fraudulent token claiming ties to DeepSeek briefly surged to a $48 million market cap on Solana, only to plunge to $6 million, according to Bird Eye. Created weeks before DeepSeek’s release, the token exploited the hype surrounding the AI model.

 “DeepSeek has not issued any cryptocurrency,” the team stated, clarifying that it operates only one verified X account.

@ Newshounds News™

Source:  The Defiant

~~~~~~~~~

BRICS TO INTRODUCE BITCOIN RESERVE? US EXPERT SAYS ITS POSSIBLE

Both the BRICS alliance and the United States have been engaged in some brewing geopolitical conflict over the last month. With US President Donald Trump eyeing a steep 100% tariff threat, all eyes are on what the bloc could do. Moreover, with both sides looking to continue their growth in the digital asset class, one expert says BRICS could be set to introduce its own Bitcoin reserve.

The news follows the announcement that the US would be introducing its own cryptocurrency stockpile. Although it is not the strategic BTC reserve many had hoped, it still will see the country firmly embrace the asset class. In response, one expert notes that the global south could turn to the leading cryptocurrency by market cap.

BRICS Bitcoin Reserve a Possibility as Nations Begin Cryptocurrency Embrace

The United States has firmly embraced cryptocurrencies since Donald Trump was inaugurated last week. Indeed, he has already ordered the asset to become a “national priority.” Meanwhile, speaking at the World Economic Forum, he claimed the country would soon become the “world capital” of AI and crypto.

That has led many to theorize what the rest of the world could do. Specifically, a host of nations are seeking to also implement similar action. Chief among them is the BRICS alliance, which one expert says could turn to create its own Bitcoin reserve.

US Space Force officer Jason P. Lowery recently took to X (formerly Twitter) to discuss the prospects. Specifically, he discussed the economic alliance’s prospects for its own cryptocurrency initiatives. However, he noted one token remained key.

“Do you really think BRICS is interested in adding a meme coin to their reserves, or one controlled by an American CEO?” Lowery said of crypto options like XRP. “Do you believe they’d choose a USD stablecoin issued by an American company trying to position itself as a neo-Federal Reserve Bank?” he further questioned.

“Or are they far more likely to adopt the coin that has been relentlessly vilified and condemned by the US for over 15 years?” he added. “That coin guarantees covering access to block space, ensuring transactions cannot be censored or denied, provided they continue to possess the physical power and infrastructure ‘they’ve already invested in."

This echoes similar sentiments made by Russian President Vladimir Putin himself. The leader applauded Bitcoin. Moreover, he noted that it is an asset that cannot be controlled. As the bloc has struggled against sanctions and US dollar weaponization, this seems increasingly important.

@ Newshounds News™

Source:  Wattcher Guru

~~~~~~~~~

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More “Iraq News” Posted by Clare at KTFA 1-27-2025

KTFA:

Clare:  Iraq boosts financial stability with huge dollar and gold reserves in US, Europe

1/27/2025

A country that has huge reserves of hard currency is considered an economically stable country that can intervene at any time to address imbalances in the balance of payments structure. It also provides an important element in establishing the country's creditworthiness, enhances the country's credit rating in international transactions, and provides cover for its local currency.

The country that has reserves takes into account their diversification (securities, deposits, gold and bonds...) in addition to geographical distribution to reduce exposure to risks and provide returns that ensure the sustainability of these reserves.

Diversified financial assets 

In this regard, the Prime Minister's Advisor, Mazhar Mohammed Salih, explained to Shafak News Agency, "Countries seek to diversify their reserves to include different currencies and various financial assets to achieve greater stability, and the US dollar is the main reserve in the reserves of these countries, because it is the most accepted and used global currency in international transactions and the most flexible."

He added, "Most countries prefer to hold assets that provide them with a fixed and stable income, such as US or European treasury bonds that can generate annual interest, while gold does not generate fixed returns like government bonds."

Saleh pointed out that "it is difficult to deal with gold in times of crisis, as it is difficult to convert gold into liquidity quickly compared to other financial assets such as foreign currencies and bonds."

The foreign exchange reserve is the country's reserve of foreign currencies, and is called the foreign exchange reserve. The purpose of the reserve is to protect itself and maneuver with it in times of economic recession or war.

The Central Bank of Iraq announced in 2024 that Iraq has a foreign currency reserve exceeding $100 billion.

Bond investment

For his part, the economic expert and professor of economics at the University of Iraq, Abdul Rahman Al-Mashhadani, stated that “the existing reserves of hard currencies are the reserves of countries, not governments,” indicating that “Iraq possesses a group of them amounting to approximately 106 billion dollars, of which 16 billion dollars is the value of gold in these reserves, and the rest is foreign currencies.” 

Al-Mashhadani explained, during his talk to the agency, that "gold as a reserve cannot be invested except by buying and selling. Iraq sells when the price of gold rises and buys when the price falls, and thus achieves profits in this field," adding, "Its storage in international banks is subject to fees."

He pointed out that "the currency reserve is divided into more than one section, some of which are invested in US Treasury bonds in the range of 31 to 34 billion dollars, and the rest are used for debts," noting that "Iraq does not have sovereign funds like Saudi Arabia and others for surplus currencies, which are invested in various fields."

Iraq has 152.6 tons of gold reserves, which makes it 29th in the world out of 100 countries listed in the reserves table, and third in the Arab world after Saudi Arabia and Lebanon.

Foreign investment

In contrast, the financial expert and former general manager of the Central Bank, Mahmoud Dagher, pointed out that “Iraq has more than 100 billion dollars distributed among the world’s banks and central banks, especially the US Federal Reserve, the European Bank, the Bank of England in Britain, the Basel Bank in Switzerland, the Emirates, and Saudi Arabia.”

Dagher told Shafaq News Agency, "These reserves contain foreign currencies, bonds, and gold, and are managed by the Central Bank and achieve good financial returns. This is what is called foreign investment."

Coin cover

In addition, Jamal Kojer, a member of the Parliamentary Finance Committee, told the agency, "Iraq's large reserves of hard currency, including gold, provide cover for the local currency and give it stability."

Koger added, "Many bet on the fall and demise of the currency, and therefore these reserves make the central bank intervene in the event of any imbalance facing financial policy."  

Variable reserves

But the economic expert, Hilal Al-Taan, saw that “all countries of the world boast about the amount of hard currency they have as a reserve, and this currency consists of the currencies of countries such as the dollar, the euro, and the franc, as well as gold.”

Al-Taan concluded, during his interview with Shafaq News Agency, that "Iraq is among the countries that were able, after 2003, to increase their currency balance to more than 110 billion dollars, and also to increase their gold balance to more than 150 tons."

He concluded his speech by saying, "These reserves are constantly changing in terms of the returns that Iraq obtains, through investing these currencies as interest in banks and as bonds."  LINK

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Clare:  CMC and U.S. Chamber of Commerce discuss supporting the Iraqi private sector in the United States

1/27/2025  Baghdad

The Commission of Media and Communications CMC and the U.S. Chamber of Commerce discussed on Monday the support of the Iraqi private sector and its presence in the United States, stressing the importance of strengthening the presence of American technology major companies in Iraq.  

CMC stated in a statement obtained by the Iraqi News Agency (INA), that "the Chairman of CMC, Ali Al-Moayyad, received at the Commission's headquarters in Baghdad, the Chairman of the US-Iraqi Business Council and Vice President of the American Chamber of Commerce, Steve Lotus." 

 CMC added that "during the meeting, they reviewed the major transformations taking place in Iraq, including the urban revolution and the noticeable developments in infrastructure, as well as the Iraqi media experience, which is a model to be followed in the region, and the great achievements witnessed by the media sector after 2003, including the remarkable expansion in the number of media institutions."

CMC added that "the meeting discussed the importance of the communications and technology sector in supporting the Iraqi economy, as it represents the second source of state resources after the oil sector," pointing out that "during the meeting, the significant growth in the authority's resources, which tripled during the last two years, was addressed." 

 CMC pointed to "emphasizing the importance of strengthening the presence of American technology major companies in Iraq, as this represents an added value to the national economy, the transfer of modern technologies and the development of technological infrastructure," noting that "the meeting also discussed the necessary facilities to support Iraqi private sector investments and strengthen its presence in the United States, ensuring a high level of economic and technological cooperation between the two countries." 

CMC pointed out that "the meeting also reviewed opportunities for cooperation with American companies to develop the digital economy in Iraq, strengthen technological infrastructure, in addition to providing support in developing regulations and legislation that serve the private sector, and the fields of digitization and communications that are witnessing rapid developments."  LINK

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Clare:  Al-Sudani sponsors a memorandum of understanding between the Iraqi Securities and the Abu Dhabi Market

1/27/2025

On Monday, the Prime Minister of the Federal Council, Mohammed Shia Al-Sudani, sponsored the signing ceremony of a memorandum of understanding between the Iraqi Securities Commission and the Abu Dhabi Securities Market.  

His media office said in a statement received by Shafak News Agency that Al-Sudani received today the CEO of the Abu Dhabi Securities Market, Abdullah Salem Al-Nuaimi, and discussed ways of joint cooperation in the field of exchanging expertise and developing mechanisms for expanding the activities of the private sector to achieve economic growth.

The statement added that Al-Sudani sponsored the signing ceremony of a memorandum of understanding between the Securities and Exchange Commission and the Abu Dhabi Securities Market, where Faisal Wissam Al-Haimus, Chairman of the Securities and Exchange Commission, signed on the Iraqi side, and Abdullah Al-Naimi signed on the Emirati side.

The MoU includes axes of cooperation in several areas, the most important of which are enhancing and developing the monitoring of daily trading in the market, and brokerage firms, cooperation in the field of dual listing conditions and mechanisms, and in developing and using technological applications and applications and mechanisms for subscriptions and initial listings, as well as in the field of cases of suspending trading on shares and timings for re-trading, and the requirements for licensing REIT funds.

The memorandum also included the exchange of expertise in the field of training, especially the activities of supervision and information technology, trading and clearing, digital transformation and financial analysis, depositing, managing funds and portfolios and supervising them, cooperation in the field of Islamic bonds and sukuk, depositing, settlement and independent financial services, and the requirements and mechanism for opening accounts for foreign investors from outside the country.

In light of the memorandum, Emirati investments will be encouraged in establishing Iraqi companies with Emirati-Iraqi capital, and their trading in both markets will be explored, according to the statement. LINK

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Clare: Baghdad and Erbil agreed.. Parliamentary consensus to pass the budget law amendment soon

1/27/2025  Baghdad

Today, Monday (January 27, 2025), the representative of the Al-Fatah Alliance, Mukhtar Al-Moussawi, confirmed that there is a parliamentary consensus to pass the amendment to the budget law during the upcoming legislative sessions.

Al-Moussawi told Baghdad Today that "there is a parliamentary agreement to pass the budget law during the upcoming sessions," noting that "there are political agreements as well as an agreement between Baghdad and Erbil on this amendment, and that the parliamentary finance committee's Meetings are continuing to agree on the final amendment formula.”

He explained that "the House of Representatives supports any agreement between Baghdad and Erbil, and we do not want the House to be a reason for obstructing negotiations and solutions."

On Thursday, January 23, 2025, the federal government denied what the Kurdistan Regional Government spokesman announced regarding submitting a proposal that differs from the Council of Ministers' amendment to the financial budget law to the House of Representatives.

Government spokesman Bassem Al-Awadi said in a statement received by Baghdad Today: “Based on the government's keenness on transparency and disclosure to citizens of the progress of its executive work, especially with regard to the budget issue, which is a fundamental pillar for implementation the obligations contained in the government program, we affirm the government's commitment to the amendments sent to the House of Representatives regarding the budget law, which takes into account the supreme national interest, and we stress that the government's representative in the House of Representatives “He stressed the necessity of not making any other amendments to the budget law that contradict the texts submitted by the Council of Ministers.”

He added, "At the same time, we deny what was stated in the statement of the spokesman for the Kurdistan Regional Government of Iraq, and we are surprised by what was stated in it regarding the claim that the representative of the federal government in the House of Representatives obstructed the amendment of the article related to the procedures for resuming oil exports from the region.”

Al-Awadi stressed "the importance of the Kurdistan Regional Government's commitment to the provisions of the Federal General Budget Law, including the delivery of financial revenues, whether oil or non-oil, to the federal government, in accordance with what is stipulated in the law and the decision of the Federal Court.”

He explained that "adherence to these procedures is a necessary step to resolve the problems related to this file and enhance cooperation between the two sides, and the federal government hopes that the House of Representatives will expedite the approval of the amendment in accordance with the text Approved by the Council of Ministers, for the benefit of Iraq, all of Iraq.”

The spokesman for the Kurdistan Regional Government said in a statement earlier today that “after a series of meetings and persistent efforts aimed at amending the federal general budget law by the Council of Representatives with the aim of resuming the export of the region’s oil, and after Completing the first and second readings, unfortunately, the draft law was not approved in the agreed-upon form at the last minute.”

He pointed out that, “What increased our surprise was that the representative of the federal government in the House of Representatives submitted a different proposal to the Council unilaterally, without prior consultation with the Kurdistan Regional Government, and without submitting it to the Federal Council of Ministers for a vote, which contradicts the previous decision of the Council of Ministers regarding the approval of the draft law amendment for the purpose of resuming the export of oil from the Kurdistan Region.”

The Kurdistan Regional Government spokesman stressed that "such attempts only serve to harm Iraq, and contribute to deepening crises instead of finding effective solutions to them. Accordingly, we declare our complete rejection of these measures and proposals, and we emphasize the necessity of presenting the agreed-upon draft law and its approval by the Federal Council of Ministers and voting on it.”LINK

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Clare: Coming from Erbil... A convoy of American military vehicles arrives at Ain al-Assad base in Anbar

1/26/2025

Information/Anbar... 
A security source in Anbar province reported on Sunday that a convoy carrying American vehicles and equipment arrived at Ain al-Assad base, coming from Erbil province.

The source told Al-Maalouma that "a large American convoy carrying American military equipment and vehicles arrived at the Ain al-Assad air base in the Al-Baghdadi area in the Hit district, west of Anbar, coming from Erbil Governorate without knowing the real Reasons behind the arrival of military reinforcements to the base building."

He added, "The convoy's movement from Erbil Governorate to Ain al-Assad base was accompanied by American aircraft flying over the areas where the convoy was located to protect it until it reached its settlement."

He explained that "American security companies are carrying out the task of delivering this equipment, while the soldiers are transported by warplanes to the Ain al-Assad air base and from there to the areas where American forces are present," stressing that "the movements of American forces' convoys have decreased significantly during the past period."  LINK

Iraq Economic News and Points to Ponder Monday Afternoon 1-27-25

Government Advisor Reveals Iraq's Gold Reserves And Hedging Against "Ill-Considered Races" To Buy It

Time: 2025/01/27 Read: 1,410 times   {Economic: Al Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed Iraq’s gold reserves, which are estimated at about 152 tons.

Saleh told {Euphrates News} that: "The gold reserve is undoubtedly an important part of Iraq's foreign exchange reserves, as it contributes to enhancing financial stability and confidence in the national currency. According to the announced data, gold reserves have reached about 152 tons."

He added, "The approximate value of it in the country's foreign investment portfolio is about $14 billion, which constitutes about 13% of the total diversification of that portfolio, which is distributed in standard proportions among other foreign currencies."

Saleh promised that gold is "a safe haven for the balance of the aforementioned investment portfolio, especially when the exchange rates of some currencies or the fluctuation of interest on investing in those currencies are exposed to uncalculated risks in the short term as a result of decline or fluctuation."

He pointed out that "central banks often follow standard guidelines, including our country, in diversifying their investment portfolios in foreign currency, which adopts many criteria, including the density of commercial areas with which they deal in global trade and investment."

Saleh added, "Our country is monitoring this diversification with great precision and with accurate advisory coverage, and it is not necessary to enter into ill-considered races in the yellow metal markets," indicating that "gold often carries its management costs, whether insurance or storage fees in global gold vaults, according to highly accurate mechanisms."

He stressed that "its importance lies in the possibility of issuing bonds when needed, called gold bonds guaranteed by gold," noting that "there are currently buying sprees in the world due to the change in the US administration and the rise in its prices."

According to the statement of Al-Sudani's advisor, "the state of uncertainty surrounding the new US administration has led to a rise in gold prices globally, as gold is a safe haven for investors in times of instability," noting that "despite this, strengthening gold reserves depends on the decisions of the monetary authority and its strategies in maintaining economic stability, and taking the necessary measures at the appropriate time."  LINK

Financial Disclosure And Transparency Is A Strategic Approach For The Central Bank

Samir Al-Nusairi   In the past few days, officials in financial and monetary policy were surprised by the statements of some unspecialized analysts and unspecialized media outlets about the crisis of the lack of liquidity in the Ministry of Finance and the Central Bank and the impact of this on delaying the securing of salaries of employees, retirees and social care. The truth is that there is absolutely no such crisis, and this is what the Ministry of Finance and the Central Bank confirmed.

Central banks in the world's countries aim primarily to achieve economic stability by achieving monetary and financial stability according to their programs and strategies that aim to maintain stability in the exchange rate of their local currencies against other foreign currencies and build sufficient foreign reserves according to special international standards.

Banks are also evaluated based on other standards related to facing crises, challenges and economic and political shocks in their countries and controlling stable rates of inflation and interest rates and implementing compliance systems and rules and combating money laundering and terrorist financing.

The Central Bank of Iraq's journey during 2023 and 2024 has proven that it is moving steadily towards achieving the objectives of monetary policy and with a consistent and strategic approach that relies on transparency and disclosure of financial data and dealing with international financial organizations and institutions, based on the keenness to restore confidence in international banking transactions, which Iraq suffered from in previous years due to reputational risks and the negative media impact towards harming the Iraqi economy and leaking inaccurate and fabricated data, information and statements intentionally or by relying on data from a source other than its official source, which is the Central Bank exclusively.

This led the Central Bank's management, which assumed responsibility in 2023, to draw up its third strategy, and one of its most prominent main and sub-goals was to adopt transparency and disclosure locally and internationally about the progress of the results achieved by the financial and banking sector and adherence to the standard international standards applied by reputable international banks, which led to the creation of a new and balanced relationship with international banks and banking institutions based on trust in the financial data provided and announced by the Central Bank.

This is what he announced from statistics, data and accurate analyses of what was achieved during the past two years.

These are positive indicators achieved by the Central Bank for the third quarter of 2024 compared to the same period in 2022 and 2023, as the total deposits in banks operating in Iraq grew by (4.2%) and amounted to (127.6) trillion dinars, compared to its value of (122.4) trillion dinars in the third quarter of 2023, and the cash credit granted by operating banks also recorded a growth of (11.6%) and amounted to (72.7) trillion dinars, compared to its value of (65.1) trillion dinars in the third quarter of 2023.

Indicators and data showed that the narrow money supply in Iraq recorded a growth of (4.1%) in the third quarter of 2024, as its value reached (158.6) trillion dinars, compared to its value of (152.4) trillion dinars in the third quarter of 2023. In contrast, the broad money supply in Iraq recorded a growth of (3.3%), as its value reached (179.1) trillion dinars, compared to its value of (173.9) trillion dinars in the third quarter of 2023.

The Central Bank's gold reserves also recorded a significant growth of (57%) in the third quarter of 2024, reaching (16) trillion dinars, compared to (10.7) trillion dinars in the third quarter of 2023, and the annual inflation rates in Iraq are among the lowest annual inflation rates in the countries of the region for the months of August and September of 2024, ranging between (3.1%) and (3.7%) respectively, which reflects price stability and the success of monetary policy in Iraq.

This confirms that the data issued by the Central Bank, published on its website and included in all media releases it issues, refute what is stated by non-specialists, such as representatives and analysts in various media outlets, especially regarding liquidity, reserves and salaries.

Through my analysis as a follower and specialist, I believe that the Central Bank’s disclosure of financial data with the required accuracy will greatly help restore confidence in our national economy and the Iraqi banking sector locally and internationally, because disclosure, transparency and credibility will contribute to restoring confidence in the Iraqi banking sector and raising the rate of financial inclusion. https://economy-news.net/content.php?id=52313

93% Of The Central Bank Of Iraq's Sales Are For Foreign Remittances

Economy   | 01/27/2025   Mawazine News – Baghdad  Foreign transfers in the Central Bank of Iraq's sales, in Monday's currency auction, amounted to more than 93%.

The bank sold 296 million, 590 thousand, and 953 dollars in its auction today, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.

Most of the dollar sales went to enhance balances abroad in the form of transfers and credits, which amounted to 276 million, 790 thousand, and 953 dollars, at a rate of 93.12%, compared to cash withdrawals of 19 million and 800 thousand dollars.

The number of banks that bought cash dollars amounted to one bank, while the number of banks that met requests to enhance balances abroad amounted to 6 banks, and the total number of exchange companies participating in the auction was 28 companies. https://www.mawazin.net/Details.aspx?jimare=259094

Dollar falls in Baghdad and Erbil as stock exchange closes

Economy | 04:28 - 01/27/2025   Mawazine News – Economy   The US dollar exchange rate against the Iraqi dinar fell on Monday in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

A Mawazine News correspondent said that the dollar exchange rate fell with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 150,500 dinars for every 100 dollars, while the prices were 150,900 dinars for every 100 dollars this morning.

Our correspondent pointed out that the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 151,500 dinars for every 100 dollars, while the purchase price reached 149,500 dinars for every 100 dollars.

In Erbil, the dollar also fell, as the selling price reached 150,400 dinars for every 100 dollars, and the purchase price was 150,300 dinars for every 100 dollars. Https://Www.Mawazin.Net/Details.Aspx?Jimare=259097

Oil Prices Fall By More Than 1%

Economy |  01/27/2025  Mawazine News – Baghdad  Oil prices fell more than 1 percent in early Asian trading on Monday after US President Donald Trump called on OPEC to lower prices following the announcement of sweeping measures to boost US oil and gas production in his first week in office.

Markets move Brent crude futures were down 87 cents, or 1.11%, at $77.63 a barrel by 0043 GMT after closing up 21 cents on Friday. U.S. West Texas Intermediate crude was down 89 cents, or 1.19%, at $73.77, according to Reuters data.

Trump on Friday reiterated his call for OPEC to lower oil prices to hurt the finances of oil-rich Russia and help end the war in Ukraine. "One way to stop the war quickly is for OPEC to stop making so much money and lower the oil prices...

The war will stop right away," Trump said. OPEC and its allies, including Russia, have yet to respond to Trump's call, with OPEC+ representatives indicating they already have a plan to start increasing oil output from April, Reuters reported.

Brent and U.S. crude posted their first declines in five weeks last week as concerns about supply cuts from sanctions on Russia eased. Analysts at Goldman Sachs said Sachs said they do not expect Russian production to be significantly affected because higher freight rates encourage more supplies to non-sanctioned vessels to transport Russian oil, while the steep discount on Russian ESPO crude lures price-wary customers to continue buying.

“Given that the ultimate goal of sanctions is to reduce Russian oil revenues, we assume that Western policymakers will prioritize maximizing discounts on Russian oil over reducing production volumes,” the analysts added in a note.

But JPMorgan analysts said some risk premium was justified given that nearly 20 percent of the world’s Aframax tankers are currently under sanctions.

“Applying sanctions on the Russian energy sector as leverage in future negotiations could lead to uncertain outcomes, suggesting that a zero risk premium is not appropriate,” they said in a note.https://www.mawazin.net/Details.aspx?jimare=259071

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Monday Afternoon 1-27-25

Good Afternoon Dinar Recaps,

RIPPLE SECURES LICENSES IN NEW YORK AND TEXAS, EXPANDING U.S. FOOTPRINT

In a latest development, Ripple has obtained Money Transmitter Licenses (MTLs) in New York and Texas, further expanding its presence in the U.S.

These licenses enable Ripple to offer compliant cross-border payment services, enhancing its ability to provide financial institutions and crypto businesses with faster, more efficient payment solutions. This news comes as firms are prepared for a crypto-friendly regulatory regime under President Donald Trump.

Notably, MTLs allow Ripple Payments customers to access a licensed version of its cross-border payments solution in the U.S., where transactions are managed end-to-end by Ripple on behalf of the customers.

55 Global Approvals

In addition to the two new MTLs, Ripple’s license portfolio now totals around 55 global approvals, including the prestigious New York BitLicense and a Limited Purpose Trust Company Charter.

“We’re continuing to see more interest from financial institutions to crypto businesses that want to unlock the benefits of crypto and blockchain for faster, cost-efficient and 24/7 cross-border payments,” Joanie Xie, Ripple Managing Director of North America, noted.

“With years of experience working in both crypto and with financial institutions, Ripple is well-positioned to support companies who are ready to take advantage of the current landscape.”

Its other regulatory approvals include registration as a VASP in Ireland and the Cayman Islands, and an in-principle license in Dubai. Ripple Payments has also grown its client base in North America, adding new partners like Bancoli, CambioReal, and GeoSwift in 2024, helping clients navigate the evolving financial ecosystem.

A Significant Shift Ahead?

Ripple’s recent U.S. regulatory approvals align with the Trump administration’s favorable stance on cryptocurrencies. It also noted that the U.S. industry players are optimistic about the upcoming four years, expecting a more crypto-friendly environment under President Donald Trump.

In a related move, the SEC recently repealed SAB 121, which had placed stringent conditions on banks providing digital asset custody services. This policy change is viewed as a significant step toward the broader integration of blockchain technology into traditional financial systems.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

OKX, CRYPTO.COM SECURE FULL MICA LICENSES TO REACH 400M POTENCIAL EU USERS

While some major exchanges, including Binance, have sought alternative regions due to regulatory challenges, OKX and Crypto.com have doubled down on their commitment to Europe.

▪️OKX and Crypto.com secured full MiCA licenses, enabling seamless crypto services across 30 EEA markets for 400+ million users.

▪️OKX offers 240+ crypto tokens, 260 trading pairs, free euro deposits, and diverse trading tools like bot trading.

▪️MiCA’s harmonized framework empowers long-term crypto growth, with Europe emerging as a hub for blockchain innovation.

OKX and Crypto.com reached a major milestone on January 27 by obtaining full licenses under the European Union’s Markets in Crypto-Assets Regulation (MiCA). The Malta Financial Services Authority (MFSA) granted regulatory approval to both platforms, enhancing their operations across the European Economic Area (EEA).

The MiCA license empowers OKX and Crypto.com to provide regulated crypto services across the EEA. This is facilitated by MiCA’s “passporting” feature, which allows licensed entities to operate seamlessly in EU nations under a unified regulatory framework. Consequently, users in the region gain improved access to secure and reliable cryptocurrency services.

Expanding Services for EEA Users

OKX aims to expand its newly licensed operations by providing diverse services such as spot trading, bot trading, and over-the-counter (OTC) crypto token transactions. The platform will adapt its website and mobile app to local languages, currency options, and regional customer support, ensuring accessibility for users in specific markets.

Similarly, Crypto.com plans to deliver a variety of cryptocurrency services tailored for European users. With its license, the company seeks to maintain a seamless and compliant experience across international borders, solidifying its presence in the EU market.

Erald Ghoos, CEO of OKX Europe, highlighted the critical role of the MiCA license as a key achievement in promoting responsible leadership within the cryptocurrency industry. He noted that the Malta Financial Services Authority is globally recognized for its robust regulatory framework.

“The MiCA regulation in the EU is particularly forward thinking as it’s harmonized across the region. Through passporting, MiCA allows us to reach more than 400 million potential customers in 30 EEA markets,” said Ghoos.

MiCA Sets the Stage for Crypto Growth

OKX now provides regulated access to over 240 crypto tokens and 260 trading pairs, including 61 euro-crypto options, under MiCA-compliant operations. Users can deposit and withdraw euros for free via bank transfers or purchase cryptocurrencies using cards and reliable payment methods.

The MiCA framework enables crypto users to explore long-term investments, trading opportunities, and tools like automated bot trading. Ghoos emphasized Europe’s vast potential as a hub for blockchain and digital assets, stating that the license establishes a solid foundation for industry growth in the region.

While some major exchanges, including Binance, have sought alternative regions due to regulatory challenges, OKX and Crypto.com have doubled down on their commitment to Europe.

By embracing MiCA’s framework, the two platforms are setting a precedent for others to follow. Apart from OKX and Crypto.com, Bitpanda also secured MiCA license in Germany.

@ Newshounds News™

Source:  CoinSpeaker

~~~~~~~~~

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Fed to Launch ‘Bazooka’ After Crash

Fed to Launch ‘Bazooka’ After Crash

David Lin:  1-26-2025

In a recent interview, Matthew Piepenburg, a partner of Von Greyerz AG, shared his insights on market sentiment, managing a potential U.S. debt crisis, and the future outlook for gold, the U.S. dollar, and monetary policy with David Lin.

This article highlights key points from their conversation, emphasizing prudent risk management, addressing debt concerns, and exploring the roles of gold and dollar in investors’ portfolios.

As an investor, managing risks in today’s volatile market environment is of paramount importance. To succeed, Piepenburg suggests focusing on capital preservation and exit strategies rather than purely chasing returns. He highlights the need to be aware of changing market conditions and adapting accordingly.

One possible scenario to prepare for is a potential debt crisis in the United States. With increasing debt levels and potential interest rate hikes, the risk of a debt crisis remains a real possibility, according to Piepenburg. As such, investors must evaluate their risk tolerance and ensure a well-diversified portfolio to navigate through these challenging times.

Gold’s historical role as a safe-haven asset and store of value positions it well as a hedge against potential debt crises or other economic downturns. Piepenburg advises investors to view gold as insurance, rather than a speculative asset.

Meanwhile, the outlook for the U.S. dollar remains uncertain. On one hand, the dollar may benefit from its status as the world’s primary reserve currency, especially in times of market stress.

On the other hand, the risks associated with potential debt crises and monetary policy could lead to currency devaluation and harm the dollar’s standing.

In conclusion, navigating market turmoil requires a disciplined approach to risk management, a keen awareness of potential debt crises, and a well-thought-out allocation to safe-haven assets like gold.

 By preparing for uncertain market conditions and understanding the dynamics of debt, monetary policy, and currency values, investors can make informed decisions and protect their wealth amidst a challenging investment landscape.

https://youtu.be/kpPRa8tt3cY

Iraq Economic News and Points to Ponder Sunday Evening 1-26-25

Iraq Economic News and Points to Ponder Sunday Evening 1-26-25

Iraq .. Discovery Of The Largest Oil Storage In The Center Of The Country With Two Billion Barrels
 
Economy    Iraq    Breaking    Oil  2025-01-20 Shafaq News/ The Central Oil Company, in cooperation with the Chinese company (EBS), announced the achievement of a major oil discovery in the southern East Baghdad field.  The general manager of the company, Eng. Mohamed Yassin Hassan, stated in a statement received by Shafaq News. 

The main exploratory well tests in the eastern Baghdad field have achieved great success, as a highly productive oil flow of medium and light oil was obtained.  It is expected to add more than two billion barrels to Iraq's oil reserves, making it the largest oil discovery in central Iraq.

The Director-General indicated that initial tests of the well showed a daily production rate of up to 5,000 barrels of crude oil. Yassin praised the fruitful cooperation between the Iraqi engineers at the Central Oil Company and their counterparts at the Chinese company EBS, which resulted in careful planning and strict implementation of well testing procedures in the areas located within the oil field.
 
This discovery acquires a strategic importance, as it is added to the oil balance of Iraq, which ranks fifth globally in confirmed reserves.
 
This achievement also comes to enhance the productive capabilities of Iraq, one of the founding and influential members of the Organization of Petroleum Exporting Countries (OPEC), which supports its pivotal role in the global energy market.  
  
https://shafaq.com/ar/اقتصـاد/العراق-اكتشاف-كبر-خزين-نفطي-في-وسط-البلاد-بملياري-برميل  

Al-Alaq Meets An Official Delegation From The United States

Economy - 01/26/2025   Mawazine News – Baghdad   The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Sunday, that the Central Bank provides the necessary support to international companies wishing to invest in Iraq, including American companies and banks.

A statement issued by the media office of the Central Bank of Iraq, received by Mawazine News, stated that "the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received the Vice President of the American Chamber of Commerce, Steve Lutes, and the President of the American-Iraqi Business Council and his accompanying delegation in Baghdad."

He pointed out that "the meeting discussed banking and economic relations between the two countries and the upcoming visit of the Central Bank of Iraq delegation to Washington and their meeting with the American Chamber of Commerce and American companies next April."

He continued that "the meeting discussed the desire of American companies to invest in the energy, infrastructure and modern technology sectors and to invest in the security stability witnessed by Iraq. The two parties also discussed the mechanisms of international trade and the process of Iraq's transition to fully operating in foreign transfers through correspondent banks."

The governor stressed during the meeting that "the Central Bank of Iraq supports the path of economic growth in Iraq and provides the necessary support to international companies wishing to invest in Iraq, including American companies and banks," noting "the importance of diversification in investment sectors."   https://www.mawazin.net/Details.aspx?jimare=259035

Stability Of The Dollar Exchange Rate Against The Dinar In Baghdad And Erbil

01/26/2025   Mawazine News – Economy   The US dollar exchange rate stabilized against the Iraqi dinar on Sunday in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar exchange rate also stabilized with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, recording 150.800 dinars per 100 dollars, the same prices recorded this morning.

The selling prices stabilized in exchange shops in the local markets in Baghdad, where the selling price reached 151.750 dinars per 100 dollars, while the purchase price reached 149.750 dinars per 100 dollars.

In Erbil, the dollar also stabilized, where the selling price reached 150.700 dinars per 100 dollars, and the purchase price reached 150.600 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=259046

Iraq's Oil Exports To America Rise During The Week

Energy   Economy News – Baghdad  The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to America increased during the past week.

The administration stated, in a table reviewed by "Al-Eqtisad News", that "the average US imports of crude oil during the past week from 9 major countries amounted to 6.064 million barrels per day, an increase of 109 thousand barrels per day from the previous week, which amounted to 5.964 million barrels per day."

She added that "Iraq's oil exports to America amounted to 218 thousand barrels per day last week, an increase of 66 thousand barrels per day from the previous week, which amounted to 152 thousand barrels per day."

The administration indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 4.329 million barrels per day, followed by Venezuela at an average of 416 thousand barrels per day, then Colombia at 286 thousand barrels per day, and Saudi Arabia at 256 thousand barrels per day."

According to the table, "the amount of US crude oil imports from Mexico amounted to 244 thousand barrels per day, from Nigeria 156 thousand barrels per day, from Brazil 138 thousand barrels per day, and from Libya 30 thousand barrels per day."   https://economy-news.net/content.php?id=52286

Gold Prices Stabilize In Baghdad

Economy | 01/26/2025   Mawazine News – Baghdad   Gold prices witnessed stability in the wholesale markets of Al-Nahr Street in the capital, Baghdad, where the selling price of one mithqal of 21 karat Gulf, Turkish and European gold was recorded at 584 thousand dinars, and the purchase price was 580 thousand dinars.

The selling price of one mithqal of 21 karat Iraqi gold was recorded at 554 thousand dinars, and the purchase price was 550 thousand.

In goldsmiths’ shops, the selling price of one mithqal of 21 karat Gulf gold ranged between 585 thousand and 595 thousand dinars, while the selling price of one mithqal of Iraqi gold ranged between 555 thousand and 565 thousand dinars.   https://www.mawazin.net/Details.aspx?jimare=259024

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Monday Morning 1-27-25

Good Morning Dinar Recaps,

XRP LAWSUIT: EXPERT REVEALS POSSIBLE REASON BEHIND RIPPLE’S REQUESTED DEADLINE IN SEC CASE

▪️Ripple requests April 16, 2025 deadline for SEC appeal, as legal battle with the SEC continues to shape XRP’s future.

▪️SEC’s appeal could bring setbacks for Ripple, but new leadership and strong legal defense may change the game.

The legal battle between Ripple and the SEC continues to be one of the most closely watched in the crypto world. Recently, Ripple requested a deadline of April 16, 2025, to respond to the SEC’s appeal. This could mean a prolonged period of uncertainty for XRP, but Ripple is standing firm.

The SEC recently filed its appeal, signaling that they aren’t backing down, even after Gary Gensler’s departure from the SEC. However, Ripple’s legal team remains confident. They believe the SEC’s appeal is a rehashed argument and are hopeful that a new administration might just drop the case.

Legal expert, Jeremy Hogan, has also criticized the SEC’s case, stating that they still haven’t proven that XRP buyers expected profits from Ripple’s efforts. The SEC’s case may have weak spots, but as always, this is far from over.

When former SEC lawyer Marc Fagel was asked about Ripple’s deadline on social media, the attorney replied and explained saying,

Pretty standard for lawyers to seek the maximum time allowed. Though I don’t think there’s any doubt they’re also allowing time for a new SEC leadership to resolve the case before they have to file the brief. (Which, again, is a highly unusual thing to happen but seems likely.)

Why does this matter? If the SEC wins the appeal and XRP is classified as a security, Ripple could face even more legal hurdles, which could slow down their progress and partnerships.

This would be a setback for Ripple’s expansion, especially in markets like Asia, the Middle East, and Europe. On the other hand, Ripple has already made strides in international markets, and their cross-border payment solutions remain some of the most efficient in the crypto space.

FAQs
What happens if the SEC wins the XRP lawsuit appeal?
If the SEC wins, XRP could be classified as a security, leading to more legal hurdles and potentially harming Ripple’s partnerships.

Is the lawsuit against XRP over?
No, the lawsuit is ongoing, with Ripple and the SEC engaged in appeals and responses that could take years to resolve.

What happened to XRP just now?
XRP’s value or status might have shifted due to legal updates, market reactions, or news. Stay updated for the latest developments.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

BRICS: WHY EXPERTS SAY US DOLLAR’S GLOBAL RESERVE DAYS MAY BE NUMBERED

Amid the ongoing de-dollarization efforts embraced by the BRICS alliance, experts have begun to state that the US dollar’s days as a global reserve asset may be numbered. Although the currency is at a new record high, economists have noted things do not look as promising in the long term.

Analysts and experts have gathered at the World Economic Forum in Davos, Switzerland. It was there that US President Donald Trump, inaugurated Monday, noted the United States would be the “world capital” of both AI and crypto. Those efforts may come to fruition, but the nation is clearly losing ground regarding its greenback as the world’s currency.

US Dollar Dominance Coming to an End? Why Economists Aren’t Keen on Its Long-Term Outlook

The geopolitical tensions over the US dollar have reached a fever pitch in recent years. The BRICS alliance has continued to seek ways to promote local currencies in trade. 

That has only drawn the ire of US President Donald Trump. In retaliation, he has threatened the presence of 100% tariffs and even discussed the creation of an external revenue service.

Yet, those tensions are separate from how experts perceive the global reserve currency. Although it has been the world’s currency since post-World War II, nothing stays the same forever. Now, amid BRICS and other regions’ actions against it, economists warn that the US dollar’s days as a global reserve currency are numbered.

In a recent session at the World Economic Forum called ‘State of Play: US Dollar,’ a panel of experts discussed the greenback. Although they note it will remain the global reserve in the coming years, that will undoubtedly change. Specifically, due to the “exorbitant privilege” that it holds, according to Harvard economist Kenneth Rogoff.

“Both parties in the United States seem to think that debt is a free lunch,” he said. Additionally, he noted that interest payments on federal debt have officially surpassed the entire US defense budget. Yet, the currency still stands at a record high, reaching levels not seen since the mid-1980s or early 2000s.

The panel notes that it is bound to fall; the question is, how hard? Economic analysts from the World Forum note that “extreme fragmentation of the financial system could decrease global GDP by roughly 5%—more than the setbacks caused by the 2008 financial crisis.” 

They ultimately believe a multipolar system will replace US dominance. Yet, the hope is that the change can come gradually and not suddenly.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

FED STICKS TO RATES AS INFLATION PERSISTS AND TRUMP’S POLICIES LOOM LARGE

▪️The Fed is likely to maintain interest rates during its upcoming announcement.

▪️Persistent inflation and labor market recovery are key factors in the Fed's decision.

▪️Trump's policies add complexity to the Fed's inflation outlook and decision-making

The Federal Reserve (Fed) is expected to announce its interest rate decision on Wednesday at 22:00 Turkish time, maintaining the policy rate in the 4.25-4.50% range. Market experts predict that the Fed will insist on keeping rates stable as it awaits clearer signals regarding the declining trend in inflation.

According to CME Group’s FedWatch data, the likelihood of no change in rates stands at over 99%. If this expectation holds true, it will mark the first “pause” in rate adjustments since September 2024.

@ Newshounds News™

Read more:  Coin Turk 

~~~~~~~~~

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“Tidbits From TNT” Monday Morning 1-27-2025

TNT:

Tishwash:  Saudi Cafe Chain Opens First Branch in Iraq

Saudi Arabia cafe chain Kyan Café has opened its first branch in Iraq.

The outlet in Basra will initially open from 2:00pm until midnight, but has plans to extend this to 24 hours.

It is Kyan's 356th store worldwide.  link

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Tishwash:  Article 140 is close to resolving the transactions of deportees and arrivals in Kirkuk

The Article 140 Committee in Kirkuk announced on Monday that there are approximately 2,500 deportees and 2,000 expatriates whose financial dues allocated by Baghdad are being disbursed by the committee, while it confirmed that the government is paying attention to resolving these files by allocating a budget estimated at about 100 billion annually to pay these special dues.

The director of the Article 140 Committee in Kirkuk, Hardi Khader, told Shafak News Agency,   "The committee was able to complete 2,969 exchange transactions for expatriates and 1,699 exchange transactions for Kurdish deportees during the years 2023 and 2024. There are transactions ready for disbursement, about 5,728 for deportees and 3,931 transactions for expatriates, and these transactions are updated."

Khader added, "The Supreme Committee for Article 140 in Baghdad is the one that allocates the budget and allocates the amounts for the bonds by it, where an amount of 100 billion is allocated annually to cover the disbursement of compensation to the displaced Kurds and Arabs arriving in Kirkuk."

He added that "the committee is working to facilitate the work of the deported Kurdish and Arab visitors who meet the conditions, and the transaction is submitted to the general headquarters to disburse their financial dues through cheques organized for that purpose."

Article 140 stipulates the cancellation of the demographic change policies pursued by Saddam Hussein’s regime in the disputed areas in favor of the Arabs at the expense of the Kurds, and then a census of the population before the final step, which is to hold a referendum in which the population determines whether they wish to join the Kurdistan Region or remain under the administration of Baghdad.

The implementation stages of the article were scheduled to be completed by the end of 2007, but security and political problems prevented this .

In 2019, the Federal Supreme Court ruled that Article 140 of the Iraqi Constitution would remain in effect, stressing that this would continue until its requirements were implemented and the purpose of its legislation was achieved  link

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Tishwash: Signing a memorandum of understanding to establish Iraqi companies with joint capital with the Emirates

Financial cooperation between Baghdad and Abu Dhabi

Prime Minister Mohammed Shia Al-Sudani sponsored, today, Monday, the signing of a memorandum of understanding between the Iraqi Securities Commission and the Abu Dhabi Securities Market, to enhance cooperation and financial services. In light of the memorandum, Emirati investments will be encouraged in establishing Iraqi companies with Emirati-Iraqi capital, and research into trading them in both markets.

Al-Sudani's office in a statement:

Prime Minister Mohammed Shia Al-Sudani received today, Monday, the CEO of the Abu Dhabi Securities Market, Mr. Abdullah Salem Al-Nuaimi.

During the meeting, ways of joint cooperation in the field of exchanging expertise and developing mechanisms for expanding private sector activities to achieve economic growth were discussed.

The Prime Minister sponsored the signing ceremony of a memorandum of understanding between the Securities and Exchange Commission and the Abu Dhabi Securities Market. The agreement was signed on the Iraqi side by the Chairman of the Securities and Exchange Commission, Mr. Faisal Wissam Al-Haims, and on the Emirati side by Mr. Abdullah Al-Naimi.

The MoU includes axes of cooperation in several areas, the most important of which are enhancing and developing the monitoring of daily trading in the market, and brokerage firms, cooperation in the field of dual listing conditions and mechanisms, and in developing and using technological applications and applications and mechanisms for subscriptions and initial listings, as well as in the field of cases of suspending trading on shares and timings for re-trading, and the requirements for licensing REIT funds.

The memorandum also included the exchange of expertise in the field of training, especially the activities of supervision and information technology, trading and clearing, digital transformation and financial analysis, depositing, managing funds and portfolios and supervising them, cooperation in the field of Islamic bonds and sukuk, depositing, settlement and independent financial services, and the requirements and mechanism for opening accounts for foreign investors from outside the country.

In light of the memorandum, Emirati investments will be encouraged in establishing Iraqi companies with Emirati-Iraqi capital, and their trading in both markets will be explored.  link

************

Mot:  Say -- What!!!! 

Mot: its a marital Thingy - That Guys Will NEVER understand!!! -- 

MilitiaMan & Crew Iraq Dinar News-International Role & Companies-Development Renaissance-Trade- FX-Trade-WTO

MilitiaMan & Crew Iraq Dinar News-International Role & Companies-Development Renaissance-Trade- FX-Trade-WTO

1-26-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=VTdPlvGHI7c

Some “Iraq News” Posted by Clare at KTFA 1-26-2025

KTFA:

Clare:  Central Bank of Iraq announces support for US investment opportunities

1/26/2025

 The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received on Sunday an official delegation from the United States headed by Steve Lutes, Vice President of the American Chamber of Commerce and President of the US-Iraq Business Council, in the capital, Baghdad.

A statement issued by the bank's media, received by Shafaq News Agency, stated that the meeting discussed strengthening banking and economic relations between Iraq and the United States, in addition to the upcoming visit of the Central Bank of Iraq delegation to Washington next April, which will include meetings with the American Chamber of Commerce and American companies.

Al-Alaq pointed out the desire of American companies to invest in the fields of energy, infrastructure and modern technology, stressing the importance of investing in the security stability witnessed by Iraq. The Governor of the Central Bank confirmed Iraq's support for the path of economic growth, with the provision of the necessary support to international companies, including American companies and banks, stressing the need for diversification in investment fields.

The two sides also discussed the mechanisms of international trade, and the process of Iraq's transition to full operation in foreign transfers through correspondent banks..LINK

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Clare: The Central Bank receives an American delegation and discusses with it Iraq's foreign transfers

1/26/2025 Baghdad

The Governor of the Central Bank of Iraq, Ali Al-Alaq, met with an American delegation in the capital, Baghdad, on Sunday, and discussed with him how Iraq can move to fully operate in foreign transfers through correspondent banks.

The Central Bank said in a statement received by "Al-Eqtisad News" that "Al-Alaq received Steve Lutes, Vice President of the US Chamber of Commerce and President of the US-Iraq Business Council and his accompanying delegation in Baghdad."

According to the statement, during the meeting, they discussed banking and economic relations between the two countries, the upcoming visit of the Central Bank of Iraq delegation to Washington, and their meeting with the US Chamber of Commerce and American companies next April.

The meeting discussed the desire of American companies to invest in the energy, infrastructure and modern technology sectors and to invest in the security stability witnessed by Iraq, as indicated in the statement. 

The statement conveyed Al-Alaq's confirmation that the Central Bank "supports the path of economic growth in Iraq and provides the necessary support to international companies wishing to invest in Iraq, including American companies and banks," noting "the importance of diversification in investment sectors."

The two parties also discussed the mechanisms of international trade and the process of Iraq's transition to fully operate in foreign transfers through correspondent banks, according to the statement.  LINK

**********

Clare: Governor of the Central Bank: We provide the necessary support to international companies wishing to invest in Iraq, including American companies and banks.

1/26/2025

The Governor of the Central Bank, Ali Al-Alaq, confirmed that the Central Bank provides the necessary support to international companies wishing to invest in Iraq, including American companies and banks.

The Central Bank of Iraq stated in a statement: "The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, met today with the Vice President of the American Chamber of Commerce, Steve Lutes, and the President of the American-Iraqi Business Council and his accompanying delegation in Baghdad."

He pointed out that "the meeting discussed the banking and economic relations between the two countries and the upcoming visit of the Central Bank of Iraq delegation to Washington and their meeting with the American Chamber of Commerce and American companies next April."

He continued that "the meeting discussed the desire of American companies to invest in the energy, infrastructure and modern technology sectors and to invest in the security stability witnessed by Iraq. The two parties also discussed the mechanisms of international trade and the process of Iraq's transition to fully operating in external transfers through correspondent banks."

During the meeting, the governor stressed that "the Central Bank of Iraq supports the economic growth process in Iraq and provides the necessary support to international companies wishing to invest in Iraq, including American companies and banks," noting "the importance of diversification in investment sectors."  LINK

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Claare: Minister of Trade calls for holding a "Made in America" ​​exhibition in Iraq and the presence of American companies in the Baghdad Exhibition sessions

1/26/2025   Baghdad/  

Minister of Trade Athir Dawood Al-Ghariri discussed with the US Chargé d'Affaires in Baghdad, Ambassador Daniel Rubinstein, Vice President of the US Chamber of Commerce and Chairman of the Iraqi-American Business Council Steve Lutes, and the accompanying delegation, ways to enhance economic and trade relations between Iraq and the United States.

The Ministry of Trade said in a statement, "The Minister stressed during the meeting Iraq's keenness to strengthen its economic relations with the United States within the framework of the government's orientations towards approving and implementing economic reforms to improve the business and investment environment.

Al-Ghariri pointed out, according to the statement, the exceptional efforts made by the Ministry in coordination with government agencies to hold the third round of negotiations for Iraq's accession to the World Trade Organization after a 16-year hiatus, as Iraq submitted files for goods and services and reviewed economic reforms, including the legislation of the Intellectual Property Law.

The Minister explained: "Iraq seeks to simplify the procedures for the work of American companies inside the country to support trade and investment between the two countries," referring to self-sufficiency in local wheat during the past two years, with the continuation of work on the memoranda of understanding signed with the American side related to the country's needs.

He called on American companies to hold a "Made in America" ​​exhibition inside Iraq and organize a forum between the Iraqi and American private sectors to review investment opportunities and available projects, and hoped that American companies would be present in the sessions of the Baghdad International Fair.

For his part, Ambassador Rubinstein expressed his aspiration for more cooperation and openness between the two countries, referring to the economic reforms that Iraq is witnessing to improve the business and investment environment. He also announced preparations for a visit by a delegation of American businessmen to Iraq next April.

In turn, Steve Lutes thanked the Ministry of Commerce for its support for the work of American companies, praising the Iraqi efforts to improve the business environment and encourage investments.

The statement added: "The two parties agreed to enhance cooperation to expand the business base and strengthen economic and trade relations in a way that serves the common interests of the two countries."  LINK

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Clare:  Al-Sudani confirms Iraq's readiness to coordinate between regional countries

1/26/2025  Baghdad

Prime Minister Mohammed Shia al-Sudani confirmed, on Sunday, Iraq's readiness to coordinate between the countries of the region, especially with Turkey, regarding developments in the regional arena, reiterating Iraq's rejection of Syria being an arena for conflict.

The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia Al-Sudani received Turkish Foreign Minister Hakan Fidan, where during the meeting, bilateral relations between the two countries were discussed, and a number of regional and international issues of common interest were discussed, especially developments in the region and events in Syria." 

The statement added, "The meeting discussed the latest developments in Syria, Gaza and Lebanon, and stressed the importance of adhering to the ceasefire."

He continued, "The meeting also discussed the importance of unifying efforts between the countries of the region in order to support its stability. In this regard, the Prime Minister affirmed Iraq's readiness to coordinate between the countries of the region, especially with Turkey, regarding the developments witnessed in the regional arena, reiterating Iraq's rejection of Syria being an arena for the conflict in which it works to establish stability, due to the impact of this on the region in general."

The Prime Minister stressed, according to the statement, "the government's follow-up on the bilateral relations file, and the implementation of the memoranda of understanding that were signed in light of his visit to Ankara last November, as well as within the framework of Erdogan's visit to Baghdad that took place in April of last year."

For his part, Fidan conveyed the greetings of the Turkish President to the Prime Minister, and expressed his country's desire for close coordination with Iraq regarding developments in the region, pointing to the desire to enhance cooperation in bilateral relations, in light of the two mutual visits of Mr. Al-Sudani and the Turkish President.

The Turkish Foreign Minister also reiterated his country's seriousness in working on the Strategic Development Road project, as well as cooperation in light of the memoranda of understanding signed between the two countries in the fields of energy, education, trade exchange, banking cooperation, and other fields.   LINK

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Clare:  Al-Sudani: Economic reforms have raised the level of foreign investments in Iraq

1/26/2025  Baghdad

Prime Minister Mohammed Shia confirmed, on Sunday, that the government has made significant progress in various aspects of economic reform and digital commercial and banking transformation, noting that economic reforms have been able to raise the level of foreign investment in Iraq. 

The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia al-Sudani received the Chairman of the US-Iraq Business Council, Vice President of the US Chamber of Commerce Steve Lotus."

He added, "The meeting reviewed trade and cooperation relations between Iraq and the United States, and efforts to prepare for the US Companies Representatives Forum, which will be held in Iraq during this year. The implementation of 18 agreements and memoranda of understanding, which were signed during His Excellency's visit to the United States last year, was also followed up." 

According to the statement, al-Sudani praised "Lotus's efforts in sponsoring and holding forums and meetings, especially with the Iraqi private sector," stressing that "the government has made significant progress in various aspects of economic reform and commercial and banking digital transformation," pointing to the continuation of efforts to legislate the intellectual property law and introduce this concept into school curricula; In order to keep pace with global trade development.

Al-Sudani explained that “economic reforms have raised the level of foreign investment in Iraq, and that American companies are invited to participate in the development renaissance that Iraq is witnessing, and the attractive and business-friendly investment environment.”

For his part, Lutz, according to the statement, praised “the efforts of the Iraqi government in the field of reform, stressing the desire of many American companies to enter the Iraqi market, and to establish promising partnerships with the Iraqi private sector, and to contribute to development and expand the scope of commercial and investment activities.”    LINK

Iraq Economic News and Points to Ponder Sunday Afternoon 1-26-25

Al-Sudani: Economic Reforms Have Raised The Level Of Foreign Investments In Iraq

Political |  01/26/2025   Mawazine News – Baghdad  Prime Minister Mohammed Shia'a confirmed, on Sunday, that the government has made significant progress in various aspects of economic reform and digital commercial and banking transformation, noting that economic reforms have been able to raise the level of foreign investment in Iraq.

The Prime Minister's media office said in a statement received by "Mawazine News": "Prime Minister Mohammed Shia'a al-Sudani received the Chairman of the US-Iraq Business Council, Vice President of the US Chamber of Commerce Steve Lotus."

He added, "The meeting witnessed a review of trade and cooperation relations between Iraq and the United States, and efforts to prepare for the US Companies Representatives Forum, which will be held in Iraq during this year, as well as following up on the implementation of 18 agreements and memoranda of understanding, which were signed during His Excellency's visit to the United States last year.

" Al-Sudani praised - according to the statement - "Lotus's efforts in sponsoring and holding forums and meetings, especially with the Iraqi private sector," stressing that "the government has made significant progress in various aspects of economic reform and digital commercial and banking transformation," pointing to the continuation of efforts to legislate the intellectual property law and introduce this concept into school curricula; In order to keep pace with global trade development.

Al-Sudani explained that “economic reforms have raised the level of foreign investment in Iraq, and that American companies are invited to participate in the development renaissance that Iraq is witnessing, and the attractive and business-friendly investment environment.”

For his part, Lotus praised - according to the statement - “the efforts of the Iraqi government in the field of reform, stressing the desire of many American companies to enter the Iraqi market, and to establish promising partnerships with the Iraqi private sector, and to contribute to development and expand the scope of commercial and investment activities.”  https://www.mawazin.net/Details.aspx?jimare=259048

 Governor Of The Central Bank: We Provide The Necessary Support To International Companies Wishing To Invest In Iraq, Including American Companies And Banks.

Sunday 26 January 2025 | Economic Number of readings: 332   Baghdad / NINA / The Governor of the Central Bank, Ali Al-Alaq, confirmed that the Central Bank provides the necessary support to international companies wishing to invest in Iraq, including American companies and banks.

The Central Bank of Iraq stated in a statement: "The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, met today with the Vice President of the American Chamber of Commerce, Steve Lutes, and the President of the American-Iraqi Business Council and his accompanying delegation in Baghdad."

He pointed out that "the meeting discussed the banking and economic relations between the two countries and the upcoming visit of the Central Bank of Iraq delegation to Washington and their meeting with the American Chamber of Commerce and American companies next April."

He continued that "the meeting discussed the desire of American companies to invest in the energy, infrastructure and modern technology sectors and to invest in the security stability witnessed by Iraq. The two parties also discussed the mechanisms of international trade and the process of Iraq's transition to fully operating in external transfers through correspondent banks."

During the meeting, the governor stressed that "the Central Bank of Iraq supports the economic growth process in Iraq and provides the necessary support to international companies wishing to invest in Iraq, including American companies and banks," noting "the importance of diversification in investment sectors." /End     https://ninanews.com/Website/News/Details?key=1182121

Minister Of Trade Calls For Holding A "Made In America" ​​Exhibition In Iraq And The Presence Of American Companies In The Baghdad Exhibition Sessions

Sunday 26 January 2025| Economic Number of readings: 158   Baghdad/ NINA / Minister of Trade Athir Dawood Al-Ghariri discussed with the US Chargé d'Affaires in Baghdad, Ambassador Daniel Rubinstein, Vice President of the US Chamber of Commerce and Chairman of the Iraqi-American Business Council Steve Lutes, and the accompanying delegation, ways to enhance economic and trade relations between Iraq and the United States.

The Ministry of Trade said in a statement, "The Minister stressed during the meeting Iraq's keenness to strengthen its economic relations with the United States within the framework of the government's orientations towards approving and implementing economic reforms to improve the business and investment environment.

Al-Ghariri pointed out, according to the statement, the exceptional efforts made by the Ministry in coordination with government agencies to hold the third round of negotiations for Iraq's accession to the World Trade Organization after a 16-year hiatus, as Iraq submitted files for goods and services and reviewed economic reforms, including the legislation of the Intellectual Property Law.

The Minister explained: "Iraq seeks to simplify the procedures for the work of American companies inside the country to support trade and investment between the two countries," referring to self-sufficiency in local wheat during the past two years, with the continuation of work on the memoranda of understanding signed with the American side related to the country's needs.

He called on American companies to hold a "Made in America" ​​exhibition inside Iraq and organize a forum between the Iraqi and American private sectors to review investment opportunities and available projects, and hoped that American companies would be present in the sessions of the Baghdad International Fair.

For his part, Ambassador Rubinstein expressed his aspiration for more cooperation and openness between the two countries, referring to the economic reforms that Iraq is witnessing to improve the business and investment environment. He also announced preparations for a visit by a delegation of American businessmen to Iraq next April.

In turn, Steve Lutes thanked the Ministry of Commerce for its support for the work of American companies, praising the Iraqi efforts to improve the business environment and encourage investments.

The statement added: "The two parties agreed to enhance cooperation to expand the business base and strengthen economic and trade relations in a way that serves the common interests of the two countries." / End   https://ninanews.com/Website/News/Details?key=1182141

The Competencies And Tasks Of The Directorate
 
January 23, 2025      The competencies and tasks of the directorate 
 
    - Licensing non-banking financial institutions
 
All licensing applications are carefully examined according to the principle of equality between all requests, in order to ensure the availability of conditions that allow
 
     competition in the Iraqi market and
     keep pace with rapid developments in the global and local financial sectors, while
     achieving the utmost efficiency and transparency.
 
    Supervising and controlling non-bank financial institutions.
 
        This directorate works as a supervisory authority, as it adopts a flexible and contemporary monitoring approach that enables it to supervise and monitor to ensure success in the Iraqi financial sector.   https://cbi.iq/news/view/2766    

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 1-26-25

Good Afternoon Dinar Recaps,

SEC REVOKES CRYPTO ACCOUNTING RULE FOLLOWING PRESIDENTIAL TRANSITION

While crypto advocates cheer the SEC’s decision, skeptics like Jacob King warn that the industry’s shift toward bank custody contradicts Bitcoin’s original vision of decentralization.

▪️In a dramatic policy shift, the SEC has revoked a crypto regulation that once shackled banks and custodians, marking a fresh start under the new administration.

▪️The controversial rule, introduced in 2022, had drawn fierce criticism from industry leaders who saw it as an unnecessary hurdle for financial institutions dealing with digital assets.

▪️Under Biden’s SEC, crypto firms found themselves entangled in legal battles, with enforcement actions reaching record highs before tapering off in the final months of Gensler’s tenure.

In a significant policy reversal, the United States Securities and Exchange Commission (SEC) has rescinded Staff Accounting Bulletin No. 121 (SAB 121), a controversial accounting guideline that mandated companies holding digital assets for clients to record these holdings as liabilities on their balance sheets.

The revocation came shortly after President Donald Trump’s inauguration, signaling a shift in the regulatory approach toward the emerging economy.

Background and Industry Reaction

Enacted during President Joe Biden’s administration in March 2022, SAB 121 aimed to enhance transparency and risk management in the burgeoning crypto sector. However, industry stakeholders criticized the rule for imposing burdensome reporting requirements, complicating the custody of digital assets, and increasing compliance costs.

The banking sector also expressed concerns, noting that the rule hindered their ability to serve as secure custodians for digital assets.

The recent revocation has been met with approval from crypto advocates. SEC Commissioner Hester Peirce, known for her pro-crypto stance, celebrated the decision by posting on X (formerly Twitter):

“Bye, bye SAB 121! It’s not been fun.”

Criticism from Outside the Crypto Industry

Despite the positive reception within the crypto community, the repeal has faced criticism from some financial analysts.  Jacob King, CEO of WhaleWire, claims the crypto advocates are wrong for believing the revocation would allow banks to custody Bitcoin BTC for customers.

In response, Carl Horton countered the tweet, noting that many still want loans using their BTC as collateral:

“Some people, like children and the elderly, need custodians. Others want smooth inheritance transfers and others want loans using their BTC in custody as collateral. BTC is freedom money and you can interact with it any way you want.”

Previous SEC Actions Against the Crypto Industry

Meanwhile, under the leadership of former SEC Chair Gary Gensler during the Biden administration, the SEC adopted a stringent regulatory stance toward the cryptocurrency sector.

The agency initiated numerous enforcement actions against crypto companies, alleging violations such as fraud and unregistered securities offerings.

While these measures were intended to protect investors and maintain market integrity, critics argued that the aggressive approach stifled innovation and created an uncertain regulatory environment.

A report by Cornerstone Research highlighted that the SEC’s crypto-related enforcement actions declined by 30% in Gensler’s final year, with 33 actions initiated compared to 47 the previous year.

Despite the decrease, monetary penalties reached a record high, underscoring the agency’s continued focus on regulating the crypto industry.

The recent policy changes, including the revocation of SAB 121 and the establishment of a crypto task force under the new administration, suggest a potential shift toward a more balanced regulatory framework that fosters innovation while ensuring investor protection.

@ Newshounds News™

Source:  CoinSpeaker

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EUROPEAN CENTRAL BANK PUSHING FOR DIGITAL EURO TO COUNTER TRUMP’S SUPPORT FOR STABLECOINS: REPORT

The European Union’s central bank is reportedly pushing for a digital euro to counter US President Donald Trump’s embrace of dollar-pegged private sector stablecoins.

European Central Bank (ECB) board member Piero Cipollone said at a conference on Friday that Trump’s new executive order on crypto could drive people away from banks, Reuters reports.

“I guess the key word here (in Trump’s executive order) is worldwide. This solution, you all know, further disintermediates banks as they lose fees, they lose clients… That’s why we need a digital euro.”

Earlier this week, President Donald Trump signed an executive order to evaluate the creation of a strategic national Bitcoin (BTC) and crypto stockpile.

The order also calls for the government to “promote the development and growth of lawful and legitimate” dollar-pegged stablecoins created in the private sector.

It further mandates that federal agencies halt any actions related to the development of a government-backed digital version of the dollar, otherwise known as a central bank digital currency (CBDC).

The administration’s new leadership at the U.S. Securities and Exchange Commission (SEC) also rescinded Staff Accounting Bulletin 121, a controversial rule that forced banks to identify crypto assets held on behalf of their customers as liabilities on their balance sheets.

@ Newshounds News™

Source:  DailyHodl

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