“Tidbits From TNT” Thursday Morning 2-27-2025

TNT:

Tishwash:  Parliament will not be suspended" .. Parliamentary Legal Committee reveals the plan for sessions during Ramadan

Member of the Parliamentary Legal Committee, Mohammed Anouz, confirmed on Thursday that the Iraqi Parliament will not be suspended early due to the upcoming legislative elections, stressing that the Council has a moral and constitutional responsibility to continue holding its sessions and approving the remaining laws.

Anouz added to Shafaq News Agency that the first and second legislative chapters are sufficient to complete the reading, discussion and voting on many laws, stressing that the Council will resume its sessions next week.

He pointed out that Parliament sessions during the month of Ramadan will be in the evening, i.e. after breakfast, to ensure the continuation of legislative work before the end of the current session.

It is noteworthy that the current session of the Iraqi Council of Representatives began on January 9, 2022, and is scheduled to continue for four years, which means that it will end on January 8, 2026. 

According to the amended Electoral Law No. 12 of 2018, legislative elections must be held 45 days before the end of the parliamentary term. 

Accordingly, the next elections are expected to be held in late November 2025. 

Recently, the Independent High Electoral Commission began its technical and logistical preparations to ensure that the elections are held on the scheduled date, in coordination with the Prime Minister’s Office. link

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Tishwash:  National Bank of Iraq wins the “Excellence Award” from “Citi Bank” in recognition of its outstanding performance

The National Bank of Iraq announced that it won the “Excellence Award” from Citi Bank, in recognition of its exceptional performance in managing incoming and outgoing financial transfers, stressing that this is an achievement that reflects its commitment to the highest standards of quality and transparency in banking services.

This award is a global testament to the bank’s efficiency in implementing financial operations with utmost precision, as it excels in ensuring that transactions are processed according to the highest international standards, while providing the required documents in the correct manner and on time.

This achievement reinforces the position of the National Bank of Iraq as one of the leading banks in the Iraqi banking sector, committed to providing reliable and effective financial solutions that meet the needs of its individual and corporate clients.

Commenting on this achievement, Ayman Abu Dahim, Managing Director of the National Bank of Iraq, expressed his pride and honor in the bank receiving this prestigious award, explaining that receiving this award reflects the bank’s tireless efforts and its firm commitment to providing banking services that are in line with the highest international standards, noting that the National Bank of Iraq believes that innovation and continuous development are the key to success, so it has worked to adopt the latest technologies to ensure the speed and efficiency of financial transfers, which provides its customers with a safe and reliable banking experience.

Abu Dahim praised the efforts made by the bank’s work team at all administrative and functional levels in providing the best banking services and achieving the highest levels of accuracy and transparency, stressing the bank’s commitment to continue developing its operations and strengthening its partnerships with global financial institutions, in a way that ensures the provision of advanced banking solutions that keep pace with the aspirations of our customers and contribute to supporting the national economy.

It is worth noting that the National Bank of Iraq is one of the leading private financial institutions in the Iraqi banking market, as it constantly seeks to provide innovative banking services that meet the needs of customers and enhance their confidence, by providing integrated financial solutions that support individuals and companies, while adhering to the best international practices in the banking sector link

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Tishwash:  It will not be on the "losing team".. Iraq moves to the post-Iran phase

An American report shed light on the attempts that Iraq is facing to get out of the "Iranian orbit" and the "axis of resistance", which took Iran years to build in order to expand its influence deep into the Arab world, but it is rapidly shrinking and could collapse overnight.

A report by the American magazine "The Atlantic", translated by Shafaq News Agency, explained that "the axis of resistance has deteriorated during the past year from its formal rise to a stage of final decline, as Israel struck two of its main members, Hamas and Hezbollah, the regime of Bashar al-Assad fell, and the Lebanese parliament elected a new president and a new prime minister, who are not on friendly terms with the axis."

The report stated that until recently, Iran boasted that it controlled four Arab capitals: Damascus, Beirut, Sanaa, and Baghdad, but now the first two have slipped away, while the third is still under the control of the Houthis, who are still loyal to Tehran. But what about the fourth, Baghdad?

absolute control

In this regard, the American report saw that the degree of Tehran's control over Baghdad is always changing, as the Iraqi parties loyal to Tehran cannot form a government on their own, and are forced to form coalitions with other parties, including those dominated by the Kurds and Sunnis, who have limited ideological ties to the "axis", adding that even among the Shiites, the pro-Tehran position has become a matter of intense controversy, especially after the balance of power in the region shifted away from Iran.

He pointed out that the forces loyal to Iran organized violent clashes in the streets, and were able to obstruct this through religious and parliamentary maneuvers, so Muhammad Shia al-Sudani took over the prime ministership in October 2022, which was described as an “Iranian victory,” for reasons including that the prime minister who replaced al-Sudani was Mustafa al-Kadhimi, whom the report described as the first non-Islamic ruler of Iraq since the fall of Saddam Hussein, and that al-Kadhimi had restored Iraqi relations with Sunni powers such as Saudi Arabia, Egypt and Jordan, and even established excellent relations with Iran and encouraged the restoration of diplomatic relations between the Iranians and Saudis.

However, the American report warned that Tehran's control over Baghdad is not completely secure, as Al-Sudani relies on the support of parties loyal to Tehran, but he continued to follow a large part of Al-Kazemi's regional agenda to strengthen relations with Arab countries.

The losing team

The report considered that there are many issues that cause division among Iraqis, but there is one issue that unites many of them, which is that they do not want Iraq to turn into a battlefield for Iran’s conflicts with the United States and Israel, indicating that in light of the decline in the fortunes of the Tehran axis, these Iraqis do not want to be on the losing team in the region.

The report indicated that many Iraqis are now publicly demanding the dissolution of the Popular Mobilization Forces, which the report described as "the main tool of Iranian interference in Iraq," noting that members of the Iraqi government say that with the defeat of ISIS, the presence of the Popular Mobilization Forces is no longer necessary.

In this context, the report mentioned the recent statements of the Iraqi Foreign Minister Fuad Hussein that he hopes “we will be able to convince the leaders of these groups to lay down their weapons, and that two or three years ago, it was impossible to discuss this issue in our society.” It also mentioned the recent statements of Mr. Muqtada al-Sadr in which he pointed out the necessity of limiting the carrying of weapons to the state’s security forces only. 

Baghdad and Washington

However, the report found that what is most surprising is that figures from within the Coordination Framework, which includes parties loyal to Tehran, support this position, including MP Mohsen al-Mandalawi, the Kurdish Shiite billionaire, adding that “dissolving the armed militias or integrating them into the regular security forces would remove Iran’s main source of influence inside Iraq.”

The report considered that such a step may be calculated to avoid problems with Washington, as it is believed that the Donald Trump administration is considering imposing new sanctions on Iraq unless the Popular Mobilization Forces are disarmed, adding that the Iraqi government is looking to calm things down with Washington, as Al-Sudani and Iraqi President Abdul Latif Rashid sent congratulatory telegrams to the American president when he was elected.

The report quoted MP Ali Nema (from the Coordination Framework) as saying that he expected Iraqi-American relations to improve, and that the Coordination Framework, which is loyal to Iran, “is not worried about Trump.”

The report recalled Al-Sudani’s recent visit to Tehran, saying that “relations with Tehran are more controversial than ever,” as Al-Sudani received harsh criticism from Supreme Leader Ali Khamenei, who called for preserving and strengthening the Popular Mobilization Forces and expelling all American forces, and described the recent change of power in Syria as the work of “foreign governments. 

Iran axis

The American report then asked whether all this data is sufficient to indicate that Iraq is also leaving the Iranian axis, but it noted that Iraqi experts did not agree on an answer to this question.

The report also quoted Hamdi Malik, a researcher at the Washington Institute, as saying that Iran “still exercises significant influence in Iraq,” and that al-Sudani’s government initially sent “cautious but positive signals” to the new Syrian regime, but “the tone in Shiite circles in Iraq changed completely after Khamenei expressed a completely hostile view of developments there.”

After noting that Al-Sudani's government relies heavily on the support of the Coordination Framework, the report quoted Malik as saying that "any attempt by Al-Sudani to limit Iran's influence will be merely cosmetic attempts."

The report said that Farhang Fereydoun Namdar, an Iraqi analyst from the University of Missouri, agreed with this assessment, as the Popular Mobilization Forces still have about 200,000 members and a budget of about $3 billion, indicating that this force is unlikely to go anywhere, despite calls for its dissolution. The report quoted Namdar as saying that “almost all factions of the Popular Mobilization Forces are loyal to Iran, and the Mobilization has managed to entrench itself in the economy and politics of Iraq ... and is the backbone of the Sudanese government.”

Strategic location

The American Atlantic report saw that Iraq's position may be more complicated than just the image of a state subordinate to a neighboring regime, as Baghdad is distinguished by a unique position to achieve a balance between Iranian interests and the interests of the Sunni states in the region, and it is trying hard to build partnerships with its non-Iranian neighbors.

The report quoted Iraqi affairs expert Aaron Robert Walsh, who is based in Amman, as saying that he believes that Al-Sudani is “cautiously separating Iraq from the axis without completely severing relations with Tehran,” noting that Tehran and its Iraqi allies could spoil these efforts, for example by attacking projects in which the Gulf states have invested.

The report concluded by reminding that Iraq will hold elections in October, and that if enough Iraqis reject pro-Tehran parties at the ballot box, as most did in 2021, there will be an opportunity for al-Sudani, or whoever may succeed him, to form a government that makes an extra effort to assert Iraqi sovereignty. link

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Mot:  .... Hitting Home It is – sssiiiigghghghghhhhhh 

Mot: Ya Knows What They Says bout ""Vegas"" – wellllllll  Chip Monks

MilitiaMan & Crew-Iraq Dinar News-CBI-Currencies-Global Systems-E Wallet-E Payments-E Taxation- Resuming Oil Days

MilitiaMan & Crew-Iraq Dinar News-CBI-Currencies-Global Systems-E Wallet-E Payments-E Taxation- Resuming Oil Days

2-26-2025

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=MLECuPNg6YI

Iraq Economic News and Points to Ponder Wednesday Evening 2-26-25

National Bank Of Iraq Wins The “Excellence Award” From “Citi Bank” In Recognition Of Its Outstanding Performance

Banks   Economy News – Baghdad  The National Bank of Iraq announced that it won the “Excellence Award” from Citi Bank, in recognition of its exceptional performance in managing incoming and outgoing financial transfers, stressing that this is an achievement that reflects its commitment to the highest standards of quality and transparency in banking services.

This award is a global testament to the bank’s efficiency in implementing financial operations with utmost precision, as it excels in ensuring that transactions are processed according to the highest international standards, while providing the required documents in the correct manner and on time.

This achievement reinforces the position of the National Bank of Iraq as one of the leading banks in the Iraqi banking sector, committed to providing reliable and effective financial solutions that meet the needs of its individual and corporate clients.

Commenting on this achievement, Ayman Abu Dahim, Managing Director of the National Bank of Iraq, expressed his pride and honor in the bank receiving this prestigious award, explaining that receiving this award reflects the bank’s tireless efforts and its firm commitment to providing banking services that are in line with the highest international standards,

noting that the National Bank of Iraq believes that innovation and continuous development are the key to success, so it has worked to adopt the latest technologies to ensure the speed and efficiency of financial transfers, which provides its customers with a safe and reliable banking experience.

Abu Dahim praised the efforts made by the bank’s work team at all administrative and functional levels in providing the best banking services and achieving the highest levels of accuracy and transparency, stressing the bank’s commitment to continue developing its operations and strengthening its partnerships with global financial institutions, in a way that ensures the provision of advanced banking solutions that keep pace with the aspirations of our customers and contribute to supporting the national economy.

It is worth noting that the National Bank of Iraq is one of the leading private financial institutions in the Iraqi banking market, as it constantly seeks to provide innovative banking services that meet the needs of customers and enhance their confidence, by providing integrated financial solutions that support individuals and companies, while adhering to the best international practices in the banking sector. 215 views  Added 02/26/2025 - 9:36 AM  https://economy-news.net/content.php?id=52992

Iraqi Trade Bank Decides To Stop Cash Withdrawals Via Atms Outside Iraq

Banks  Economy News – Baghdad  The Trade Bank of Iraq announced, on Wednesday, the suspension of cash withdrawals via ATMs outside Iraq.

The bank's media advisor, Aqeel Al-Shuwaili, said in a statement, seen by "Al-Eqtisad News", that "due to the risks resulting from the misuse of electronic cards (Visa and MasterCard), and to avoid these risks, cash withdrawals through ATM machines for these cards outside Iraq only have been stopped." He added that "the cards can be used to pay through POS machines and online." 148 views Added 02/26/2025 - 5:48 PM  https://economy-news.net/content.php?id=53006

More Than 95% Of The Central Bank Of Iraq's Sales Today Are For Foreign Transfers

Wednesday 26 February 2025 16:36 | Economic Number of readings: 122  Baghdad / NINA / Foreign remittances exceeded 95% of the total sales of the Central Bank of Iraq in its daily auction, today, Wednesday.

The Central Bank sold today 288 million, 620 thousand and 427 dollars, at a price of 1310 dinars per dollar for documentary credits and international settlements for electronic cards and foreign remittances, and 1305 dinars per dollar for cash withdrawals.

Most of the sales went to enhance balances abroad through remittances and credits, amounting to 276 million, 320 thousand and 427 dollars, representing 95.65% of total sales, while cash withdrawals amounted to 12 million and 300 thousand dollars.

Only one bank bought cash dollars, while five banks met requests to enhance balances abroad, and the total number of exchange companies participating in the auction was 13 companies. https://ninanews.com/Website/News/Details?key=1188954

Al-Mashhadani: Iraq Is Stable In Terms Of Security And Economy And Has Adopted A Non-Aligned Approach

Politics | 04:06 - 02/26/2025  Mawazine News – Baghdad  Parliament Speaker Mahmoud al-Mashhadani confirmed on Wednesday that Iraq is stable in terms of security and economy and has adopted a non-aligned approach.

Al-Mashhadani said during a dialogue seminar on the sidelines of the third Erbil Forum on the accumulated concerns about the future of the Middle East: "Iraq is stable in terms of security and economy and has adopted a non-aligned approach with what is happening around it in the region, and we are working to build a prosperous Iraq that has a pivotal role in the region and thus open the door to global investment."

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He added, "Iraq contains about 1432 investable materials between energy and other materials, and Iraq as an energy reserve, the world will ensure that it remains stable and that there is no danger to Iraq from what is happening around it."  https://www.mawazin.net/Details.aspx?jimare=259864

Finance Minister At IMF Meeting: We Expect Non-Oil Revenues To Increase

Local |  02/26/2025   Mawazine News – Baghdad   Finance Minister Taif Sami stressed on Wednesday the importance of updating financial systems to keep pace with global economic changes.

The ministry said in a statement received by Mawazine News that "in a step that reflects the depth of regional economic cooperation, Finance Minister Taif Sami participated in the International Monetary Fund meetings held in the Jordanian capital, Amman, which come within the framework of periodic consultations with the Fund."

During the meetings, the Finance Minister discussed "several basic strategic axes, including the implementation of the 2024 budget, where plans for its implementation were reviewed with a focus on controlling expenditures and enhancing the efficiency of distributing financial resources in line with the state's economic goals."

The statement continued, "Ways to improve public finances were discussed by enhancing investment opportunities, directing social spending towards vital sectors, in addition to supporting non-oil funds to reduce dependence on oil revenues."

The meetings discussed, according to the statement, "developments in the field of banking reforms, highlighting the importance of updating financial systems to keep pace with global economic changes, in addition to discussing expectations of the economic situation during 2025, while reviewing potential strategies to increase non-oil revenues, including tax identification issues and adopting a unified accounting system."

The Minister of Finance explained during the meetings that "these meetings come within the context of the ministry's ongoing efforts to enhance financial stability and achieve structural reforms that ensure the growth of the national economy."

She pointed out "the importance of close coordination with regional and international development partners," noting that "cooperation with the International Monetary Fund team is the cornerstone for developing financial policies in line with current challenges."


The statement added that "these meetings come as a strategic step within the efforts made to reform the financial and banking sector in Iraq, with the aim of enhancing financial stability and supporting economic growth."

It pointed out that "these meetings are expected to result in new financial policies that focus on diversifying sources of public revenue, developing the banking system, and improving spending efficiency in line with global economic changes, which contributes to enhancing the flexibility of the Iraqi economy and increasing its ability to face financial challenges."

https://www.mawazin.net/Details.aspx?jimare=259866

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

Seeds of Wisdom RV and Economic Updates Wednesday Evening 2-26-25

Good Evening Dinar Recaps,

SEN. LUMMIS SAYS WASHINGTON IS 'ON THE PRECIPICE' OF STABLECOIN AND CRYPTO REGULATION BILLS

▪We’re on the precipice of finally creating a bipartisan legislative framework for both stablecoins and market structure,” said Sen. Cynthia Lummis, R-Wyo. on Wednesday.

▪So far this year in the new Congress, the focus has been on first regulating stablecoins, with both Republican and Democratic lawmakers coming out with bills over the past several weeks.

Just a few months after a new Congress rolled into Washington, lawmakers are starting to get cracking on crypto legislation with hopes that bills can get signed by President Donald Trump by the end of this year.

"We're on the precipice of finally creating a bipartisan legislative framework for both stablecoins and market structure," said Sen. Cynthia Lummis, R-Wyo., during a congressional hearing on Wednesday. "I hope we can get both pieces of legislation to President Trump for his signature this year."

Lummis added that she hoped that would include the Responsible Financial Innovation Act, which she and Democratic Sen. Kirsten Gillibrand have worked on over the years and created a regulatory framework for crypto.

So far this year in the new Congress, the focus has been on first regulating stablecoins, with both Republican and Democratic lawmakers coming out with bills over the past several weeks.

One of those bills is called The Guiding and Establishing National Innovation for U.S. Stablecoins, or GENIUS Act., which was introduced earlier this month by Senate Banking Committee Chair Tim Scott, R-S.C., Sen. Kirsten Gillibrand, D-N.Y., Sen. Bill Hagerty, R-Tenn., and Lummis. The bill includes reserve requirements and implements "light-touch, tailored regulatory standards for stablecoin issuers."

Lawmakers asked detailed questions  about that bill during Wednesday's Senate Banking Committee digital assets-focused panel hearing titled "Exploring Bipartisan Legislative Frameworks for Digital Assets." The panel was created this year and is led by Lummis.  

Ongoing discussions

Sen. Tina Smith, D-Minn., asked detailed questions about consumer protections in future stablecoin legislation and asked the witnesses at the hearing whether legislation should require "stablecoin issuers to be vetted for character and fitness" like other financial institutions.

Timothy Massad, former chair of the Commodity Futures Trading Commissioner and witness at the hearing, said the GENIUS Act doesn't require it and added that it should.

"Similar standards are in the European legislation and in other countries' legislation," he added.

On the House side, House Financial Services Committee Chair French Hill, R-Ark., released draft legislation last month that builds on work done in that committee over the past few years with some differences.

 For example, it gives the Office of the Comptroller of the Currency the authority to "approve and supervise federally qualified nonbank payment stablecoin issuers " instead of including a federal path through the Federal Reserve for "payment stablecoin issuers."

Shortly after, the top Democrat of the committee, Rep. Maxine Waters of California, released a discussion draft that includes language around federal regulators for stablecoins.

Sen. Bernie Moreno, R-Ohio, drew comparisons of crypto to other technologies, such as airplanes and computers, during Wednesday's hearing.

"The point I'm trying to make is, is why all of a sudden, when we got to digital currencies, did we decide here in Washington D.C. and say no, no we are going to decide the pace of innovation, the way technology should work," Moreno said.

@ Newshounds News™

Source:  The Block

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BANK OF AMERICA CEO REVEALS PLANS FOR US DOLLAR-BACKED STABLECOIN, BUT THERE’S A CATCH

▪Bank of America is eyeing the stablecoin market amid global adoption.

▪The firm said it stayed back earlier because of unclear regulations.

▪BofA hopes to join major tech giants like Paypal with related offerings.

Like other mainstream fintech giants like Revolut and PayPal Holdings Inc (NASDAQ: PYPL) with Stablecoin plans, Bank of America (BofA) is set to introduce its token once regulations permit.

As reported by Fortune, Bank of America CEO, Brian Moynihan, while speaking at the Economic Club of Washington, D.C., discussed the growing importance of digital assets and the potential for stablecoins to function like traditional financial products.

Bank of America and the Stablecoin Plan

During the event, Brian said that stablecoins will likely play a major role in the conventional banking institution.

He further explained that a BofA-issued stablecoin would be fully backed by the US dollar and linked to a deposit account. Eventually, this will enable an easy and smooth transaction process between digital and traditional money.

“If they make that legal, we will go into that business,” he said, adding that the only reason BofA has not yet released its stablecoin is because of the stringent policy of the past administration.

However, he sounded more positive about the present government, saying that he expects major banks to enter the crypto economy once clear rules are in place.

Brian also made it known that irrespective of other digital asset offerings, the firm’s major focus remains on stablecoins. The BofA chief said he believes these tokens would fit perfectly into the current financial system.

Interestingly, this marks a shift from how the organization has viewed the digital asset economy. In 2022, when top Wall Street banks were diving into crypto, the firm’s CEO stated they had no intention of rushing into the space.

Most Money Movement Is Already Digital

Notably, while stablecoins are not yet part of BofA’s services, the financial institution is already transacting electronically. The CEO mentioned that the Bank transacts about $3 trillion online daily through wire transfers, ACH payments, and card transactions.

He pointed out that consumer spending is now largely digital, with services like Zelle and credit cards far outpacing cash usage. However, he acknowledged that cash remains essential for many people and businesses.

“ATMs and branches are still needed,” he said, despite the shift toward digital payments.

For context, reports show that the bank has invested large amounts of money in emerging technologies.

The expenditure is around $4 billion annually on new developments and another $8–9 billion on system operations. Per the report, the bank was an early adopter of mobile banking, launching its iPhone app before competitors. Today, about 90% of customer interactions happen digitally, supported by AI-powered tools like its virtual assistant, Erica.

Still, Moynihan emphasized the importance of human interaction in banking. With 3,700 branches nationwide, BofA continues to serve customers who prefer face-to-face assistance.

He stressed that digital convenience must be balanced with personal service, as many people seek expert advice on financial planning and major transactions.

@ Newshounds News™

Source:  CoinSpeaker

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Some Iraq News Posted by Clare at KTFA 2-26-2025

KTFA:

Clare:  Trade Bank of Iraq stops cash withdrawals via ATMs outside Iraq

2/26/2025

The Trade Bank of Iraq announced today, Wednesday, the suspension of cash withdrawals via automated teller machines (ATM) using electronic cards (Visa and MasterCard) outside Iraq, as part of preventive measures to avoid security risks associated with the misuse of these cards.

The bank explained, in a statement received by {Al Furat News} a copy of it, that:

“The decision only includes cash withdrawals from ATMs outside Iraq, while users can continue to use cards to pay via POS devices or in electronic transactions on the Internet.”

The bank pointed out that "this measure comes out of concern for protecting customers' money from any security threats that may result from misuse of cards in some areas."   LINK

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Clare:  The Central Bank of Iraq is moving towards launching a digital banking currency instead of paper currency

2/26/2025

The Governor of the Central Bank, Ali Al-Alaq, revealed on Wednesday the intention to create a digital banking currency to replace paper currencies.

Al-Alaq said, in a speech during the 9th Finance and Banking Services Conference and Exhibition, which was followed by Shafak News Agency, that "the financial and banking system will witness fundamental transformations, including the decline of paper currencies to be replaced by digital payments for central banks."

He added that "the Central Bank is moving to create its own digital currency, to gradually replace the paper process as is happening in some central banks in the world," indicating that "we are seriously considering establishing a data center in Iraq, and the bank has begun to move on this issue as part of the digital transformation steps."

Al-Alaq continued, " The current stage is witnessing a major development in the electronic payment system through increasing the number of ATMs and credit wallets," indicating that "the support provided by the Central Bank helped raise the rate of financial inclusion in Iraq to 49% after it was 20%, about two years ago."

He pointed out that "Iraqi banks are witnessing today qualitative transformations in their banking operations, especially with regard to financial transfers of different currencies, through the adoption of approved global systems and programs that help them with these advanced transformations in financial services."  LINK

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Clare:  Mazhar Saleh stresses the importance of electronic payment in the digital transformation in Iraq

2/26/2025

Mazhar Muhammad Salih, advisor to the Prime Minister, confirmed today, Wednesday, that electronic payment is one of the basic pillars for achieving digital transformation and enhancing financial stability in Iraq.

He added in his statement to {Al Furat News}, that "electronic payment contributes to reducing the size of the informal economy, as it still constitutes about 70% of the operations of the Iraqi market, and it also enhances transparency in financial transactions and increases citizens' confidence in the banking system." 

He explained that "the adoption of electronic payment contributes significantly to reducing traditional cash transactions, which helps combat corruption and money laundering. It also contributes to accelerating commercial operations and the capital cycle in the Iraqi market, and enhances the integration of the national income cycle." 

Saleh pointed out that "digital transformation leads to improving the management of the state's financial resources, which enhances its ability to collect taxes and fees more efficiently."

He added, "This contributes to reaching advanced levels of growth in building the unified treasury account, which enables the banking system to operate credit and grant loans with the least amount of banking liquidity risks, which effectively enhances the financing of economic and development activity."

From.. Raghad   LINK

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Clare: Central Bank Governor inaugurates the 9th Finance and Banking Conference

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, inaugurated the 9th Finance and Banking Services Exhibition and Conference, in which a number of banks and payment companies operating in Iraq participated.

During his speech, His Excellency the Governor stressed that the current stage is witnessing a significant development in the electronic payment system by increasing the number of ATMs and credit wallets, noting that the support provided by the Central Bank has helped raise the financial inclusion rate in Iraq to 40% after it was 20% about two years ago.
The Governor pointed out that Iraqi banks are witnessing qualitative transformations in their banking operations today, especially with regard to financial transfers of different currencies by adopting approved global systems and programs that help them in these advanced transformations in financial services.

In his speech, he outlined the features of future banks that will transform from traditional entities to smart digital platforms and issue digital financial identities that facilitate financial transactions without the need for banks.

He added that the financial and banking system will witness the decline of paper currencies to be replaced by digital payments for central banks, and that the Central Bank is moving to create its own digital currency to gradually replace the paper process as is happening in some central banks in the world, indicating work to establish a data center in Iraq similar to the major centers in the world, as it is an indispensable part of the digital economy and a basis for artificial intelligence, applications, big data analysis and the Internet, and that the Central Bank of Iraq has begun steps in this direction, calling for the formulation of a comprehensive Iraqi vision for digital transformation.

Central Bank of Iraq
Media Office
February 26, 2025

https://cbi.iq/news/view/2807

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Clare: Confirming Shafaq News.. Trump is heading to impose sanctions on Iraqi groups

2/26/2025

The American website "Fox News" published a report today, Wednesday, in which it referred to the "maximum pressure" sanctions that the Trump administration is pursuing against countries that have economic and trade relations with Iran, including Iraq, which includes punishing a group of banks and controlling Baghdad's reserves at the US Federal Reserve.

According to the website's report, translated by Shafaq News Agency, "These countries should expect to feel the shock waves resulting from Trump's campaign on the Iranian oil trade," indicating that Iran currently exports an average of 1.5 million barrels of oil per day, but under the executive order issued by Trump on February 6, the Secretaries of State and Treasury will work to "implement a campaign aimed at driving Iranian oil exports to zero."

The report touched on "$6 billion in Qatar from Iranian oil revenues held in Doha," noting that "this issue was raised during the meeting of Iranian Supreme Leader Ali Khamenei with Qatari Emir Tamim bin Hamad Al Thani this week."

The US report indicated that "Washington intends to cut off Iran's oil exports to China, which account for 90% of Iranian outflows, by sanctioning some individuals and ships associated with the so-called shadow fleet of ships transporting Iranian oil, but stricter campaigns could pass after Chinese banks that process oil transactions."

The Trump administration also intends, according to Fox News, to “withdraw waivers from Iran’s Chabahar port project, a major trade gateway in southern Iran with India, through which the latter has pumped $370 million. India had previously obtained a waiver for the project, allowing it to create a trade route in Central Asia that bypassed Pakistan, because American officials believed the port helped reconstruction efforts in Afghanistan.”

As for Iraq, the report explained that "the United States has great influence over Iraq, and $100 billion of the country's reserves are kept in the United States, and it can use this money to exert great pressure on Baghdad to distance it from Iranian influence."

The report cited "the ban on five Iraqi banks from conducting transactions in US dollars as a means of eliminating Iran's access to the US currency," considering that "Iraq is the lifeline for Iran's access to hard currency, and the United States has long sought to restrict Tehran's bypassing of sanctions through its neighbor."

Last Monday, Shafaq News Agency published a report revealing the efforts made by the Iraqi Ministry of Foreign Affairs to prevent the issuance of US sanctions against Iraq, including companies and names of leaders in the Popular Mobilization Authority.

According to an informed political source, who told Shafaq News Agency, requesting that his name not be mentioned, "American sanctions may be issued soon and will include a list of names of political figures who have armed factions."

The source also explained that "the list includes more than ten names, some of whom are leaders of the Popular Mobilization Forces, and others are well-known and have partnerships with important political forces," explaining that "the situation with the United States may escalate, and the goal is to control the movement of money in Iraq and to limit and weaken what the American administration calls Iran's arms and to stop supplying Tehran with hard currency through intermediaries."

The source pointed out that "there are three financial companies and three transportation companies, all of which operate within the Iraqi oil fleet, and they will also be on the blacklist, in order to pressure and stop the smuggling of currency and oil towards Iran."

On the 16th of this month, a responsible Iraqi government source revealed to Shafaq News Agency that the Iraqi government agencies received an official notification imposing US sanctions on five new Iraqi banks, for their involvement in illegal financial transfer operations inside and outside Iraq. LINK

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Clare:  Iraq discusses with the International Monetary Fund controlling expenditures and the 2024 budget

2/26/2025

The Iraqi Minister of Finance, Taif Sami, discussed with the International Monetary Fund, financial and banking reforms to support the Iraqi economy, during the periodic meetings held in the Jordanian capital, Amman.

The Iraqi Ministry of Finance said in a statement issued today, Wednesday, and received by Shafak News Agency, that the discussions focused on implementing the 2024 budget, with a review of mechanisms for controlling expenditures and enhancing the efficiency of distributing financial resources, in line with the state's economic goals. 

The two parties also discussed, according to the statement, ways to improve public finances by supporting investment and directing social spending towards vital sectors, in addition to enhancing non-oil revenues and reducing dependence on oil revenues.

The meetings also included discussing banking reforms, stressing the importance of updating financial systems to keep pace with global economic changes. 

It also reviewed the economic forecast for 2025 and potential strategies to increase non-oil revenues, including developing the tax system and implementing a unified accounting system.

During the meetings, Sami stressed that these meetings come within the framework of the Ministry’s efforts to enhance financial stability and achieve structural reforms that support the national economy, noting the importance of coordination with international partners and considering cooperation with the International Monetary Fund as a fundamental pillar in developing financial policies to confront current challenges.  LINK

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Clare:  Companies from 50 countries compete for electricity projects in Iraq  

2/26/2026

The spokesman for the Ministry of Electricity, Ahmed Musa, revealed on Wednesday that more than 300 companies representing 50 countries are participating in the Renewable Energy Conference, which is being held at the Baghdad International Fair from the 24th to the 26th of this month .

Musa told Shafaq News Agency, "The conference represents an important opportunity for local and international companies to view the Ministry of Electricity's projects in the renewable energy sector, and to present their investment offers to enhance the electrical infrastructure in Iraq."

Musa added that "the Iraqi government seeks to diversify gas and energy sources," noting that "the ministry had previously signed contracts with international companies to establish solar power stations, as part of its plans to support the shift towards clean energy."

Musa pointed out that "536 government buildings have been converted to operate with solar energy systems, in a move aimed at reducing pressure on the national electricity grid and enhancing energy sustainability in the country."

At the end of last month, the Iraqi Minister of Electricity, Ziyad Ali Fadhil, announced the launch of new production projects with a capacity of 15,000 megawatts, while confirming that the country’s energy production had increased by about 9,000 megawatts over the past two years  LINK

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 2-26-25

Good Afternoon Dinar Recaps,

UKRAINE WAR: TRUMP IS NOT TRYING TO APPEASE PUTIN – HE HAS A VISION OF A NEW US-CHINA-RUSSIA ORDER

There has been much and justified focus on the implications of a likely deal between US president Donald Trump and his Russian counterpart Vladimir Putin and the overwhelmingly negative consequences this will have for Ukraine and Europe. But if Trump and Putin make a deal, there is much more at stake than Ukraine’s future borders and Europe’s relationship with the US.

As we are nearing the third anniversary of Russia’s full-scale invasion, Ukraine’s future is more in doubt than it has ever been since February 2022.

For once, analogies to Munich in 1938 are sadly appropriate. This is not because of a mistaken belief that Putin can be appeased, but rather because great powers, once again, make decisions on the fate of weaker states and without them in the room.

Similar to the pressure that Czechoslovakia experienced from both Germany and its supposed allies France and Britain in 1938, Ukraine is now under pressure from Russia on the battlefield and the US both diplomatically and economically.

Trump and his team are pushing hard for Ukraine to make territorial concessions to Russia and accept that some 20% of Ukrainian lands under Russia’s illegal occupation are lost.

 In addition, Trump demands that Ukraine compensate the United States for past military support by handing over half of its mineral and rare earth resources.

The American refusal to provide tangible security guarantees not only for Ukraine but also for allied Nato troops if they were deployed to Ukraine as part of a ceasefire or peace agreement smacks of the Munich analogy.

Not only did France and Britain at the time push Czechoslovakia to cede the ethnic German-majority Sudetenland to Nazi Germany. They also did nothing when Poland and Hungary also seized parts of the country.

And they failed to respond when Hitler – a mere six months after the Munich agreement – broke up what was left of Czechoslovakia by creating a Slovak puppet state and occupying the remaining Czech lands.

There is every indication that Putin is unlikely to stop in or with Ukraine. And it is worth remembering that the second world war started 11 months after Neville Chamberlain thought he had secured “peace in our time”.

The Munich analogy may not carry that far, however. Trump is not trying to appease Putin because he thinks, as Chamberlain and Daladier did in 1938, that he has weaker cards than Putin. What seems to drive Trump is a more simplistic view of the world in which great powers carve out spheres of influence in which they do not interfere.

The problem for Ukraine and Europe in such a world order is that Ukraine is certainly not considered by anyone in Trump’s team as part of an American zone of influence, and Europe is at best a peripheral part of it.

Trump-eye lens on the world

For Trump, this isn’t really about Ukraine or Europe but about re-ordering the international system in a way that fits his 19th-century view of the world in which the US lives in splendid isolation and virtually unchallenged in the western hemisphere. 

In this world view, Ukraine is the symbol of what was wrong with the old order. Echoing the isolationism of Henry Cabot, Trump’s view is that the US has involved itself into too many different foreign adventures where none of its vital interests were at stake.

Echoing Putin’s talking points, the war against Ukraine no longer is an unjustified aggression but was, as Trump has now declared, Kyiv’s fault. Ukraine has become the ultimate test that the liberal international order failed to pass.

The war against Ukraine clearly is a symbol of the failure of the liberal international order, but hardly its sole cause. In the hands of Trump and Putin it has become the tool to deal it a final blow. But while the US and Russia, in their current political configurations, may have found it easy to bury the existing order, they will find it much harder to create a new one.

The push-back from Ukraine and key European countries may seem inconsequential for now, but even without the US, the EU and Nato have strong institutional roots and deep pockets. 

For all the justified criticism of the mostly aspirational responses from Europe so far, the continent is built on politically and economically far stronger foundations than Russia and the overwhelming majority of its people have no desire to emulate the living conditions in Putin’s want-to-be empire.

Nor will Trump and Putin be able to rule the world without China. A deal between them may be Trump’s idea of driving a wedge between Moscow and Beijing, but this is unlikely to work given Russia’s dependence on China and China’s rivalry with the US.

If Trump makes a deal with Xi as well, for example over Chinese territorial claims in the South China Sea, let alone over Taiwan, all he would achieve is further retrenchment of the US to the western hemisphere. This would leave Putin and Xi to pursue their own, existing deal of a no-limits partnership unimpeded by an American-led counter-weight.

From the perspective of what remains of the liberal international order and its proponents, a Putin-Xi deal, too, has an eerie parallel in history – the short-lived Hitler-Stalin pact of 1939. Only this time, there is little to suggest that the Putin-Xi alliance will break down as quickly.

@ Newshounds News™

Source:  Economic Times

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BRICS: GOLDMAN SACHS PREDICTS US DOLLAR WILL EXPERIENCE A BOOM

The BRICS alliance might not be able to deter the US dollar as Goldman Sachs predicts the currency could experience a tariff-fueled boom.

Currency traders could make stellar profits if they take long positions on the USD, wrote the global investment bank. Tariffs from the Trump administration could bolster the appeal for the greenback leading to further gains, the note from the bank read.

If the US dollar continues its rise in the charts, BRICS will have a hard time safeguarding their respective local currencies. The development could derail the de-dollarization agenda and lead to the greenback strengthening further. The USD faced severe challenges from BRICS who were looking to dethrone it from the world’s reserve currency status.

BRICS: Tariffs Could Fuel US Dollar Boom, Says Goldman Sachs

The escalating trade wars could benefit the US dollar in the long haul, wrote Goldman Sachs in a note and the development could impair the BRICS bloc. “Ultimately, not all tariffs are equal when it comes to FX,” wrote Goldman Sachs strategists Karen Reichgott Fishman and Lexi Kanter in a note.

“But given the unwind of premium in key crosses in recent weeks, we once again think tariff risks look underpriced, making long dollar exposure now look even more attractive.”

Trump’s protective style of governance could drive inflation but in turn, support US yields, the note read. The tariffs are ruffling a lot of feathers in the markets as they directly affect the imports and exports sector. BRICS was looking to outdo the US dollar but found itself in a stiff economic situation.

The local currencies of BRICS countries have already plummeted to new lows against the US dollar this year. The de-dollarization initiative could stagnate for the next four years as threats of tariffs loom from Trump.

@ Newshounds News™

Source:  Watcher Guru

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Iraq Economic News and Points to Ponder Wednesday AM 2-26-25

It Includes Several Priorities.. Al-Najjar Explains The Strategy Of The Iraq Development Fund
 
Economy    02-22-2025, 15:54  Baghdad - WAA - Mohammed Al-Talibi  The Executive Director of the Iraq Development Fund, Mohammed Al-Najjar, explained today, Saturday, the most prominent strategic priorities that the fund is working on to  support economic growth in the country, while stressing the work to   create new guarantees that allow citizens to obtain loans.

Al-Najjar said in a statement to the Iraqi News Agency (INA):

"The  priorities of the strategy that the Iraq Development Fund is working on to  
     support economic growth in the country are to find and create projects capable of accomplishing several things, including
 
     withdrawing the cash mass available to citizens,
     finding investment outlets for it, and also rebuilding projects that
     rebuild human capital in Iraq, in addition to projects that work to
     improve the environment in all its aspects, whether the actual environment, the economic environment, or the community."

He added that"the fund is also working to revive small and medium enterprises after
 they were the basis of the economy, but today their role is very weak, and we are working to rebuild them, and we are also working seriously to restore the spirit of initiative and leadership among young citizens," noting that
 
"working to create new types of guarantees that allow citizens to obtain loans other than the current guarantees." He continued:
 
"We are also working on three types of projects, including
 
     projects with a societal return, and
     projects with a return on capital or what is called a catalyst, and our role is a catalyst, and we are working on so-called
     growth projects, which are projects that generate money," noting that "the nature of the
 
fund's work is not only profit, but
 
our goal is development in all its forms,
 
     human development,
     wealth development,
     water development, and
     attracting the private sector to invest."

Regarding the monitoring and evaluation mechanisms adopted by the Fund to ensure the efficient and transparent implementation of projects and the achievement of their desired objectives, Al-Najjar pointed out that
 
“there is an international company that does this work, and
 
it submits its reports to the Fund’s Board of Directors.
 
We also adopt international standards for financial accounting for this purpose, as   we have internal and external auditing, as well as an audit from the Audit Bureau.”   https://www.ina.iq/228587--.html    

Developing {Electronic Payment} In Iraq
 
First 2025/02/26  Baghdad: Hoda Al –Azzawi   The country has recently witnessed a remarkable expansion in the use of electronic payment systems, whether in the private sectors such as companies, shops, markets, or in government institutions and departments.
 
This trend is part of the digital transformation strategy, which the
 
government seeks to achieve extensive financial and administrative reforms. In an interview with "Al -Sabah", a government advisor, a member of a specialized team, explained that
 
electronic payment carries many advantages, most notably the
 
     limit of corruption,
     reduce financial waste, and
     narrowing the gap in the lost tax amounts.  The system also contributes to
     accelerating the completion of transactions for individuals,
     replacing the long queues in government departments with
     smooth and rapid payment operations.
 
Dr. Mohamed Esmat Al -Bayati, a member of the advisory team for digital transformation in the General Secretariat of the Council of Ministers, stressed that
 
electronic payment is the cornerstone of the financial renaissance of Iraq. He added that
 
this system provides wider financial comprehensiveness,
 
which contributes to integrating large segments of society within the official banking system, and
 
thus reducing the size of the parallel economy and enhancing the stability of national criticism.    
  
https://alsabaah.iq/110806-.html 

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 2-26-25

Good Morning Dinar Recaps,

XRP NEWS: RIPPLE DEVS UNVEILS ROADMAP FOR INSTITUTIONAL DEFI ON XRP LEDGER

XRP Ledger is undergoing restructuring that might attract more institutional participants

▪The XRP Ledger is transforming with new innovations designed to boost institutional adoption.

▪Developers are particularly building to permit DeFi participation by institutions.

▪Onchain innovations to enhance include DiD, programmability and compliance.

Ripple Devs, an offshoot of Ripple Labs Inc has introduced a new roadmap designed for institutional Decentralized Finance (DeFi) on the XRP Ledger (XRPL). He also boasted of how this iteration is one of the greatest that the protocol has introduced in the past.

XRP Ledger And its Innovations Down the Line

With this new roadmap, the blockchain payment company intends to expand its possibilities for use in various financial applications. David “JoelKatz” Schwartz noted that this Ripple roadmap presents a detailed outline of its direction for this year, including its use cases and features that it plans to focus on.

In the past, XRPL has implemented innovations that have encouraged financial institutions to participate in the market.

These innovations could improve price transparency, liquidity efficiency, and the integration of compliance tools. One such innovation is the Central Limit Order Book (CLOB). This feature allows efficient price discovery and ensures deep liquidity for the assets traded on the network.

Another innovative addition is the Automated Market Maker (AMM), which enhances liquidity automation. Precisely, this XRPL AMM delivers the optimization of the exchange processes that exist between tokenized assets and stablecoins.

This solution is largely recognized for its distinct direct integration with the native Decentralized Exchange (DEX).

Last month, XRPL took it a step further by introducing a new AMM feature for holders of the Ripple USD (RLUSD) stablecoin.

XRPL Integration With Ondo Finance

In addition to these innovations, the XRP ecosystem underwent several amendments and upgrades.

The XRP Ledger also secured strategic partnerships that hold potential for expansion. As part of its collaboration, the XRP ecosystem tries to ensure that it contributes to meeting the growing demand for tokenized solutions, especially for Real-world Assets (RWAs).

Ondo Finance partnered with XRPL to debut tokenized US Treasuries for institutional investors.

The offering, dubbed Ondo Short-Term US Government Treasuries (OUSG), is backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). Based on its structure, investors can buy OUSG or redeem it anytime using Ripple USD.

What Next For XRP Ledger?

Going forward, XRPL plans to focus on features that improve regulatory compliance while expanding institutional lending options.

It is also keen on offering greater programmability to develop onchain financial products. 

Amongst the incoming innovations are digital credentials based on DID and Multi-Purpose Token (MPT), a new tokenization standard.

While the latter offers access to the creation of regulated financial markets directly on the blockchain, MPT allows for the representation of complex financial instruments. Noteworthy, these updates are still directed towards TradFi integration with DeFi.

Financial institutions can issue tokenized loans securely with XLS-65d, another key addition for institutional DeFi. This will help reduce the dependence on traditional intermediaries and promote more transparency in the credit markets.

The XLS-66d specifications offer benefits, such as on-ledger loans, off-chain underwriting, and first-loss capital protection. These will help ensure that financial risks are managed more efficiently.

@ Newshounds News™

Source:  CoinSpeaker

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IOTA SECURES KEY EU PARTNERSHIPS—DRIVING REAL UTILITY & MASS ADOPTION

▪IOTA is pushing new frontlines in the EU with new partnerships.

▪To bolster its push toward mass adoption, the IOTA rebased innovation is set to soar soon.

IOTA, a leading open-source distributed ledger technology, continues to form key strategic partnerships with the European Union (EU). IOTA’s collaboration in the EU is part of its broader mission to drive real utility and secure mass global adoption.

IOTA’s New Partnership in the EU

Popular Angel investor with the username @Walknonthemoon on social media platform X highlighted IOTA’s EU collaborations. According to Walknonthemoon, IOTA, through the strategic partnership will support EU and UK-backed trade lanes with its technology.

IOTA will focus on digitizing transport-related activities between the countries in the EU and the United Kingdom. The protocol’s technology will help streamline freight management and notify users of important updates about their shipments.

IOTA will also enable real-time data sharing among trading partners and reduce administrative costs. This collaboration aligns with IOTA’s vision of bringing real-world applications on-chain.

In a recent study, CNF reported that IOTA launched a digital infrastructure, the Trade and Logistics Information Pipeline (TLIP), to revolutionize trade.

The platform allows trading partners to share real-time data, reducing administrative costs. TLIP helped power the post-Brexit UK-EU trade, enhancing processes and saving thousands of hours otherwise wasted on slow and inefficient processes.

IOTA’s partnership with the EU will also focus on powering sustainable energy rewards in the Netherlands. This partnership further strengthens the network as a key player in providing sustainability-related solutions. Every project IOTA undertakes has an outlook toward sustainability which is now embedded into its core technological development.

Last year, IOTA unveiled its Electronics Digital Product Passport (DPP) prototype to enhance transparency and traceability throughout the lifecycle of electronic devices. As CNF discussed earlier, this product highlights IOTA’s push towards integrating blockchain in environmental sustainability efforts.

In addition, IOTA is leading on-chain Know-Your-Customer (KYC) verification for the EU. Through its robust solutions, IOTA aims to offer substantial cost savings for European banks. As featured in our recent coverage, the IOTA Foundation recently collaborated with walt.id, IDnow, Bloom Wallet, and Spyce5 to pioneer a groundbreaking KYC solution for Web3 applications.

The solution paves the way for a more sustainable and effective banking ecosystem in Europe.

IOTA Rebased on the Horizon

The mainnet launch of the IOTA Rebased Protocol is set to happen soon, designed to also bolster the mass adoption of the chain. The IOTA Rebased Protocol marks the most important upgrade from IOTA as it sets the network for extensive scalability, programmability, and decentralization transformation.

Through the updated protocol, IOTA plans to achieve a processing speed of more than 50,000 transactions per second and finalization times of less than 500 milliseconds.

Ahead of its main net launch, the IOTA Rebased test network recently announced onboarding a new set of trusted validators. They are expected to bring trusted, enterprise-grade validation to IOTA.

Also, IOTA has announced additional transaction fees to Rebased. As explained in our last article, this initiative is expected to simplify tokenomics.

@ Newshounds News™

Source:  Crypto News Flash

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“Tidbits From TNT” Wednesday Morning 2-26-2025

TNT:

Tishwash:  Central Bank: Achieved international integration by linking the Iraqi electronic payment system to global network

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced today, Wednesday, that the financial inclusion rate has risen to more than 40  % , noting that the bank has achieved international integration by linking the Iraqi electronic payment system to global networks.

Al-Alaq said in a speech during the ninth annual exhibition and conference for finance and banking services in Iraq, "There is a complete roadmap for digitizing banking services through electronic payment as a main tool for digital transformation, as the number of devices has reached 63 thousand devices in the governorates of Iraq," according to what was reported by the official news agency.

He added, "The number of electronic teller machines has reached more than 4,000 machines and the number of bank cards is about 17 million cards," indicating that "the Central Bank supported the licensing and operation of electronic wallets via mobile phone that allow charging, transferring and paying bills, which raised the rate of financial inclusion to more than 40  % compared to 20% three years ago

He pointed out that "the number of permanent wallets reached 1.2 million wallets, and we achieved international integration by linking the Iraqi electronic payment system to global payment networks, which allows the transformation of accepting foreign cards locally and expanding the acceptance of Iraqi cards internationally," adding that "the achievements made in the field of information technology and electronic payments in the Central Bank represent a fundamental shift in the financial system."  link

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Tishwash:  Al-Sudani discusses with US Secretary of State areas of coordination between Iraq and the new Washington administration

Prime Minister Mohammed Shia Al-Sudani received a call from US Secretary of State Marco Rubio today, Tuesday (February 25, 2025). The call discussed bilateral relations between Iraq and the United States, with a focus on ways to enhance and develop them in various fields.

According to a statement by the Prime Minister's media office, received by "Baghdad Today", during the conversation, areas of coordination between Iraq and the new US administration were discussed, in addition to frameworks for cooperation within existing bilateral agreements. 

According to the statement, the progress made in joint work between the two countries was reviewed, with an agreement to intensify communication and enhance cooperation to achieve common interests. link

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Tishwash:  The dollar declines in Iraq.. Stability or temporary calm?

Today, Tuesday, the local Iraqi markets witnessed a noticeable decline in the exchange rate of the dollar against the dinar, as the selling price fell to 149,750 dinars for every 100 dollars, while the buying price reached 147,750 dinars.

This decline comes after months of volatility, as the dollar exceeded the 150,000 dinar barrier for a long time, raising widespread concerns about its impact on prices and inflation in the country.

What are the reasons for the decline?

There are several factors that may be behind this decline, most notably:

The measures of the Central Bank of Iraq aimed at controlling the exchange rate, by tightening control over dollar transfers and reducing reliance on the black market.

Recent government moves to combat financial speculation and take steps to control the flow of dollars in official markets.

Improvement in the flow of dollars through official channels, following agreements between Iraq and international financial institutions.

Will this decline continue?

Despite the current decline, the most important question remains: Will we witness real stability in exchange rates? Or is this decline merely a temporary decline due to immediate measures? Previous experiences indicate that the exchange rate is affected by many factors, including the political situation, cash flows, and US measures against banks accused of currency smuggling.

Implications for markets and prices

Any decline in the dollar price is expected to contribute to a decline in the prices of imported goods, especially food, medicine and electronics, but the question remains: Will this decline be reflected quickly in the markets? Or will traders continue to price according to previous prices to achieve greater profits?

Conclusion

The dollar breaking the 150,000 dinar barrier for the first time in months is a positive development, but it does not necessarily mean that the crisis is over. The matter remains subject to the ability of the government and the Central Bank to maintain this stability and prevent speculation that may return the dollar to its upward path again. Is this decline the beginning of an economic breakthrough, or just a temporary break before a new wave of increases?  link

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Mot: .. And How Was Your Daze!!

Mot: .. Special ole ""Opal"" – LOL  Pickles stomps painting

Seeds of Wisdom RV and Economic Updates Tuesday Evening 2-25-25

Good Evening Dinar Recaps,

SEC BACKS OFF: UNISWAP ANNOUNCES END OF INVESTIGATION

The platform called the move a “huge win for DeFi” after reports have suggested the SEC may be radically changing its approach to crypto enforcement in 2025.

Uniswap Labs, the developer behind the Uniswap decentralized exchange, reported that the US Securities and Exchange Commission (SEC) has dropped its probe into the firm.

According to a Feb. 25 X post, the SEC concluded its investigation into Uniswap and has no plans to pursue enforcement action against the firm. The report followed Uniswap’s announcement that it received a Wells notice from the SEC in April 2024 while the commission was under the leadership of then-Chair Gary Gensler.

“This is a huge win for DeFi and reaffirms what we’ve always known – that the technology we build is on the right side of the law, and our work is on the right side of history,” said Uniswap.

At the time of publication, the SEC had not made any official announcement regarding Uniswap. However, Coinbase made a similar claim on Feb. 21 that the commission would be closing its case against the crypto exchange roughly two years after being launched. The regulator’s Enforcement Division will also be closing investigations into Robinhood Crypto and OpenSea.

Changing course on crypto in 2025?

According to multiple filings with the SEC, the commission’s crypto task crypto met with representatives of several firms in February as part of efforts to explore potential changes to digital asset regulation.

Commissioner Hester Peirce, who leads the task force, suggested that the SEC wait until it has a Senate-confirmed chair to set a different regulatory path.

However, with the Uniswap action and others, the commission seems to be quickly changing its approach to crypto enforcement. Some experts have suggested that all other SEC cases, including a pending appeal from Ripple Labs following a court judgment, could be paused or withdrawn entirely.

Before US President Donald Trump took office, Reuters reported that the SEC would consider freezing all crypto enforcement cases that did not involve fraud as part of the administration’s change in policy on digital assets. 

Project 2025, an ultra-conservative policy framework that Trump’s team has largely followed since Jan. 20, suggested that the administration “remove regulatory impediments” at the SEC.

@ Newshounds News™

Source:  CoinTelegraph 

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NASDAQ FILES 19B-4 FOR CANARY CAPITAL’S HEDERA HBAR SPOT ETF

Big news for HBAR and Litecoin. Nasdaq has officially filed a 19b-4 form with the SEC, seeking approval to list and trade shares of the Canary HBAR ETF.    

According to Bloomberg analyst Eric Balchunas, this puts HBAR and Litecoin in the best position among current altcoin ETF filings, increasing their chances of gaining regulatory approval ahead of others. This ETF is designed to track the real-time price of HBAR, the 21st-largest cryptocurrency by market capitalization.

This filing marks a significant expansion of Canary Capital’s crypto investment products, following the launch of its HBAR Trust in October 2024 and an initial ETF registration (S-1) in November.

What This Means for HBAR?

If approved, the ETF would allow investors to gain exposure to Hedera’s HBAR token without directly purchasing or holding it. This kind of institutional investment vehicle has historically been seen as a positive development for crypto adoption, making it easier for traditional investors to enter the space.

HBAR’s price has reacted positively to the news, surging 5% following Nasdaq’s filing. This follows a previous 20% jump after the S-1 filing in November, showing strong investor enthusiasm for an HBAR-based ETF.

Canary Capital’s Growing Influence in Crypto ETFs

Canary Capital is also pursuing other cryptocurrency ETFs. Alongside the HBAR ETF, the firm has filed for a spot Litecoin ETF, which is now awaiting SEC approval. According to Bloomberg analyst Eric Balchunas, Litecoin’s regulatory outlook appears favorable, as it has not been caught in legal disputes with the SEC and has been classified as a commodity by the CFTC.

The spot Litecoin ETF has already been listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker “LTCC,” an essential step toward its launch.

More Crypto ETFs in the Pipeline

Canary Capital isn’t stopping at HBAR and Litecoin. The firm has also filed for a spot XRP ETF, which the SEC has already acknowledged. Plus, there are reports that Canary is exploring similar investment products for Solana (SOL), indicating a broader push for crypto ETFs.

The introduction of more spot crypto ETFs signals a growing interest in making digital assets more accessible to institutional investors. 

While the SEC’s decision on the HBAR ETF is still pending, this filing represents a major step toward mainstream crypto adoption. If approved, it could pave the way for more blockchain-based investment products in the future.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

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Some “Iraq News” Posted by Clare at KTFA 2-25-2025

KTFA

Clare:  Al-Sudani and US Secretary of State discuss areas of coordination between the two countries by phone

2/25/2025

Prime Minister Mohammed Shia Al-Sudani received a phone call today, Tuesday, from US Secretary of State Marco Rubio.

A statement from the Prime Minister's Office, a copy of which was received by {Euphrates News}, stated that "during the phone call, the two sides discussed the overall bilateral relations between Iraq and the United States, and ways to enhance and develop them."

The statement added that "the call witnessed a discussion of areas of coordination between Iraq and the new US administration, and frameworks for cooperation in the context of bilateral agreements."

He pointed out that "the progress made in joint work in various fields was reviewed, and it was agreed to intensify communication and deepen cooperation." LINK

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Clare: After a "difficult labor", the 2025 budget tables finally find their way to the Council of Ministers

2/24/2025

 A responsible source in the Iraqi Ministry of Finance stated on Monday that the delay in sending the federal budget tables to the Council of Ministers is related to amendments to Article 12 of the Budget Law.

The Iraqi parliament recently approved an amendment to the general budget related to Article 12, which settles a dispute between the Kurdistan Region and the federal government over receiving the region’s oil.

In summary, the Iraqi Parliament voted in June 2023 on the draft general budget law for the fiscal years (2023, 2024, 2025), to approve special budget tables for those years, which will be sent by the Iraqi government to Parliament for voting.

The government source told Shafaq News Agency, "The Ministry of Finance has been working for some time on preparing the general budget tables for the year 2025, in order to send them to the Council of Ministers for approval."

He pointed out that "the Ministry of Finance will finish preparing the tables and send them to the Council of Ministers for voting on them in the middle of next month," noting that "the Council of Ministers will vote on the tables without delay and then send them to the House of Representatives for voting on them."

The Federal Ministry of Oil announced yesterday, Sunday, the completion of the necessary procedures to complete the export of oil produced in the Kurdistan Region via the Turkish port of Ceyhan, stressing that this step comes in accordance with the mechanisms specified in the budget law and its amendment, and within the production ceiling set for Iraq in the OPEC organization.

The Kurdistan Regional Government's negotiating delegation responded to the Ministry of Oil's announcement by calling on the federal government to implement its obligations before proceeding with the oil export process.

The delegation explained that despite the regional government’s confirmation of its commitment to implementing the first amendment law to the federal general budget law, which relates to re-exporting oil produced from the region’s fields to the Turkish port of Ceyhan via SOMO, implementing the law requires agreement on several basic points, including determining the quantities allocated for local consumption in the region, in line with actual needs, similar to the rest of Iraq, and establishing a clear and specific mechanism for paying the dues of production and transportation companies to the regional government, in accordance with what is stated in the law.  LINK

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Clare:  PM Advisor announces Launch of 70 Banking Products to Promote Development and Financial Inclusion

2/25/2025  Baghdad-

The Prime Minister's Advisor for Economic Affairs, Abdul Hussein Al-Anbaki, announced today, Tuesday, the launch of 70 new Islamic banking products.

Al-Anbaky told the Iraqi News Agency (INA) that "the Sharia Standards Committee for Islamic Banks continues to review more standards to ensure their compliance with national regulations, within the framework of cooperation with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)," noting that "the Sharia standards set by the organization are adopted in 37 regulatory bodies across 26 countries as a basis for formulating local regulations and are not mandatory."

He added that "the new banking products represent a qualitative shift in the banking sector, and will contribute to attracting savings, stimulating development financing, and reducing the phenomenon of hoarding, which negatively affects the Iraqi economy, with 73% of the money supply remaining outside banks."

He explained that "these products provide banking solutions that are compatible with Sharia controls, which enhances customer confidence in Islamic banks, and pushes towards expanding financial inclusion and raising the credit rating of Iraqi Islamic banks. It will also allow a large segment of society to return to banking transactions, after having been deprived of them due to the absence of products compatible with Islamic Sharia."

Al-Anbaki called on "the Central Bank to support these products and integrate them into monetary policies, to ensure their positive impact in enhancing financial stability, stimulating the supply of money and demand for it, and increasing the doubling of credit," stressing that "this step will enable Iraq to benefit from global experiences in Islamic banking systems, which will contribute to achieving comprehensive economic development."  LINK

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Clare: The Central Bank organizes a workshop on the international Islamic standards issued by the AAOIFI

The Central Bank of Iraq organized a workshop on the international Islamic standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).

The workshop witnessed the participation of a number of employees of the Central Bank and employees of the banking sector in Iraq.

The workshop discussed the international Islamic standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the importance of applying them at the level of the Iraqi banking sector.

It is noteworthy that the Central Bank of Iraq organizes seminars and workshops on an ongoing basis to advance the banking sector and its employees alike.

 Central Bank of Iraq
Media Office
February 25, 2025

https://cbi.iq/news/view/2802

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Clare:  Iraq signs agreement with British Petroleum to rehabilitate four Kirkuk fields

2/25/2025

 On Tuesday, the Iraqi government signed an agreement with the British Petroleum

(BP) company to rehabilitate and develop the four Kirkuk fields, under the auspices and attendance of Prime Minister Mohammed Shia al- Sudani .

The Prime Minister's Office stated in a statement received by Shafaq News Agency, "This signing comes after an agreement with the concerned company on technical issues and contractual terms, including the economic model of the project, based on the memoranda of understanding that were signed in London during Al-Sudani's last visit to Britain, which aimed to ensure the best contractual terms and benefits for the Iraqi side, after detailed and lengthy negotiations with the Ministry of Oil, according to his directives, for the optimal investment of energy and providing crude oil to the northern refineries and reducing their dependence on southern oil, and the agreement is the final stage before signing the contract in a final manner."

The statement added, "The agreement includes developing the four main Kirkuk fields (Bai Hassan, Kirkuk with its two domes "Baba and Avana", Jambur, and Khabbaz), in a way that guarantees the investment of associated gas, as well as the rehabilitation and expansion of gas facilities in the North Gas Company and the establishment of a power station with a capacity of 400 megawatts to achieve the desired goals of this integrated strategic project."

The statement indicated that "this project will provide for the absorption of workers in various specializations, operate local companies, implement social benefit projects, and develop the skills of engineering and technical resources, supporting the staff of the North Oil Company and the North Gas Company, within the government's vision for training programs and raising the level of competencies within the framework of what British Petroleum provides, in coordination with the Ministry of Oil." LINK

Iraq Economic News and Points to Ponder Tuesday Afternoon 2-25-25

Iraq Ranks Seventh In The World In Gold Purchases

25 February 2025 | Economic Number of readings: 298  Baghdad / NINA / The World Gold Council announced today that Iraq is at the forefront of Arab countries in buying gold during the year 2024.

According to the Council's data, Iraq ranked first among Arab countries in buying gold, as the volume of its gold purchases in 2024 amounted to about 20.1 tons, and thus these reserves amounted to 152 tons, while Iraq's gold purchases in 2023 were about 12.3 tons.

The Council added that Qatar came second, followed by the Emirates in third, and then Egypt in fourth.

The Council indicated that Iraq came seventh as the largest buyer of gold in the world in 2024 after Poland, which came first, Turkey in second, India in third, Azerbaijan in fourth, China in fifth, and the Czech Republic in sixth. / End  https://ninanews.com/Website/News/Details?key=1188648

Gold Settles Near High

Tuesday 25 February 2025 | Economic Number of readings: 207  Baghdad / NINA / Gold settled near an all-time high on Tuesday, supported by safe-haven demand amid concerns that US President Donald Trump's plans for tariffs could stoke inflation and ignite a major global trade war.

Spot gold was little changed at $2,950.39 an ounce, down about $6 from its all-time high of $2,956.15 hit yesterday, while US gold futures rose 0.1 percent to $2,967.40.

As for other precious metals, spot silver rose 0.3 percent to $32.45 an ounce, while platinum was little changed to settle at $966, while palladium fell 0.4 percent to $936.25. / End2 https://ninanews.com/Website/News/Details?key=1188637

Al-Sudani And Rubio Discuss Coordination Between Iraq And The New US Administration

Tuesday 25 February 2025 20:37 | Politics Number of readings: 95  Baghdad / NINA / Prime Minister Mohammed Shia al-Sudani discussed with US Secretary of State Marco Rubio, by phone, the coordination between Iraq and the new US administration.

The Prime Minister's media office stated in a statement: "Al-Sudani received, today, Tuesday, a phone call from US Secretary of State Marco Rubio, during which they discussed the overall bilateral relations between Iraq and the United States, and ways to enhance and develop them."

He added: "Al-Sudani and Rubio discussed areas of coordination between Iraq and the new US administration, and frameworks for cooperation in the context of bilateral agreements. They also reviewed the progress made in joint work in various fields, and agreed to intensify communication and deepen cooperation." / End  https://ninanews.com/Website/News/Details?Key=1188781

EU: Improving Financial Culture In Iraq Is Essential For Economic Development/

Money and business  Economy News – Baghdad  The European Union confirmed, on Tuesday, its commitment to supporting Iraq in promoting financial culture as a necessity for development, noting that the launch of the “Our Bank” application represents a major step in developing future financial plans for Iraqi families.

During the launch of the "Our Bank" application and the smart robot for financial awareness, which was attended by "Al-Eqtisad News", the country director of the German Development Agency (GIZ), Lutz Zimmermann, said that "enhancing financial awareness contributes to improving financial services, and this is what we are working on through developing financial culture and its applications in Iraq."

He added that "launching this application is an important milestone in facilitating access to financial services and reducing hesitation in dealing with banking affairs," stressing the importance of "having effective tools and guidelines for using the application, as they play a role in reducing financial problems and achieving more efficient financial management."

For his part, the head of the European Union Cooperation Department and representative of the German Embassy, ​​Lennart de Ridder, explained that "access to financial services is no longer a luxury, but a vital necessity," noting that "the European Union pays great attention to the financial inclusion project, especially with technological developments that require enhancing digital banking services."

He stressed that "the European Union, in cooperation with the German government and the Central Bank of Iraq, seeks to enhance financial transparency and develop government knowledge in this field; to ensure the success of financial systems and their proper preparation."

De Ridder considered that “the launch of the (Our Bank) application represents a fundamental step in supporting the Iraqi economy, as it is a pivotal tool for disseminating financial information and enhancing financial awareness, which contributes to enabling individuals to access banking services accurately and efficiently.”

He concluded by saying: “We are committed to supporting Iraq financially and enhancing financial culture, as achieving progress in this area is essential for the sustainability of economic development in the country.” 73 views  Added 02/25/2025 - https://economy-news.net/content.php?id=52983

"Al-Eqtisad News" Publishes The Decisions Of The Cabinet Session

Money and business  Economy News – Baghdad  Al-Eqtisad News publishes the decisions of the Cabinet session, which was held today, Tuesday, headed by the Council Chairman, Mohammed Shia Al-Sudani.

The Prime Minister's media office stated in a statement seen by Al-Eqtisad News that "Prime Minister Mohammed Shia Al-Sudani chaired, today, Tuesday, the eighth regular session of the Council of Ministers, during which general developments in the country were discussed, a number of important files and the progress of the implementation of the government program were discussed, in addition to discussing the topics on the agenda and taking the necessary decisions regarding them."

He added that "the Council approved the new draft law of the Popular Mobilization Authority, and referred it to the House of Representatives for voting, noting that "within the government's efforts to protect the environment and reduce pollution, the Prime Minister directed the adoption of the recommendations of the report on addressing the problems of air pollution and the spread of bad odors prepared by the Ministry of Environment, according to the following:

1. Strengthening the Ministry of Finance's human cadres in the environmental directorates in Baghdad and the governorates, by transferring specialized environmental cadres from the Ministry of Health to the Ministry of Environment as an exception to the instructions.

2. Accelerating the procedures for the Ministry of Finance to finance the Ministry of Environment, to provide spare parts, maintain and rehabilitate air quality monitoring stations, and establish the nucleus of a national center for handling, processing and linking monitoring stations in Baghdad and the governorates and emission sources, and providing portable devices to support the work of the basic system.

3. Securing the necessary funding for the Ministry of Environment to carry out its daily tasks related to environmental inspection, control and monitoring.

 4. The Ministry of Oil adopts combustion improvement incentives, to raise the quality of fuel supplied to factories and plants and reduce emissions, while accelerating the transition to using liquefied gas as a clean fuel for these facilities.

5. Accelerating the evaluation of the experience provided by the Ministry of Industry and Minerals regarding the installation of emission control systems. 6. Emphasizing the security authorities in supporting technical teams and tightening control over irregular industrial activities that pollute the air, and taking legal measures against them.

He continued, "In the field of following up on the completion of infrastructure projects, he directed the exemption of the Al-Hamza Al-Kabir sewerage project in Diwaniyah Governorate from the requirements for approval in the Ministry of Finance, and proceeding with contracting procedures, to be completed when the federal general budget schedules for the year 2025 are issued, and the plan of the Ministry of Construction, Housing, Municipalities and Public Works related to loans is approved."

He explained that "within the framework of the government's work to complete stalled projects and launch service projects, the Council approved the following:

1. Increasing the amount of the reserve and the total cost of the project (building the Al-Amiriya Municipality Directorate/Anbar Governorate, with furnishing) included in the governorate's budget.

2. Establishing the infrastructure component (rainwater drainage, sewage and electricity supply) within the components of the project (establishing a general hospital with a capacity of (200) beds in Nahrawan, turnkey/Baghdad) included in the investment budget tables of the Ministry of Health for the year 2024, and increasing the total cost of the component.

3. Increasing the reserve amount and the total cost of the project (establishing a 100-bed hospital in Safwan District) in Basra Governorate.

"Within the plans to secure the ration card items, the Council approved the recommendations for settling the dues of Al-Owais Company as follows: Forming a committee to negotiate with Al-Owais Company, headed by the Administrative Undersecretary of the Ministry of Planning and including the Director General of the General Government Contracts Department at the Ministry of Planning, the Director General of the Accounting Department at the Ministry of Finance, and the Director General of the General Company for Foodstuffs Trading at the Ministry of Trade, to process and settle the company's dues for the difference resulting from changing the exchange rate of the food basket contract, and submit a recommendation on the amount to the Council of Ministers," he added.

The Council of Ministers also followed up, according to the statement, on the development of energy sector projects, as the Council approved increasing the amount of the consulting contract to develop the Basra refinery/the FCC cofactor cracking project for the Japanese companies (UNICO) and the French companies (TECHNIP), and increasing the contract period, as an exception to the controls attached to the instructions for implementing government contracts (2 of 2014).

In the same sector, the Council authorized the Ministry of Oil/Basra Oil Company to sign a non-binding agreement of principles with AURASYIA SCOPE OIL & GAS UK LTD regarding the tank depot and artificial island project,

due to the importance of the project from the strategic oil perspective and to establish Iraq’s position in the territorial waters of the Gulf and to develop the national economy and increase the financial revenues of the federal public treasury.

The Council of Ministers also approved the following:
Authorizing the Director General of the General Company for Electricity Production/Middle Euphrates to sign an extension contract addendum according to the requirements of the added work, related to the maintenance and operation of diesel stations, for five years,

based on the commercial offer submitted by (Dasov) Company, at the same price for the tariff using the (TAKE AND PAY) method and achieving a production capacity of (750) megawatts during the first contractual year and implementing works outside the scope of the contract,

and that the extension period be subject to annual review according to the requirements and with the agreement of the two parties to the contract, as an exception to the instructions for implementing government contracts (2 of 2014) and the controls attached thereto,

with the company responsible for the efficiency of the operation of the updated or added system, and in a manner that ensures the safety of the operation of the generating units in the four diesel stations according to the recommendations of the unit manufacturer.

The Ministry of Electricity was also authorized to sign a contract for the entire project (simple cycle with combined cycle 921 megawatts) in Nasiriyah, and the project allocation is divided into several stages (multi-year allocation).

In the context of enhancing international cooperation in the field of peaceful nuclear energy, the Council of Ministers voted to approve the authorization of the Minister of Higher Education and Scientific Research/Chairman of the Iraqi Atomic Energy Commission to negotiate and sign the draft cooperation agreement between the Government of the Republic of Iraq and the Government of the People's Republic of China in the field of peaceful uses of nuclear energy, and for the Ministry of Foreign Affairs to prepare the necessary authorization document and submit it to the General Secretariat of the Council of Ministers in order to obtain the signature of the Prime Minister.

Based on the Prime Minister's directive, the Council of Ministers voted to grant the Iraqi doctor (Mohammed Taher Abu Raghif) a residential apartment in the Al-Khadhra residential complex in the capital, Baghdad, and a diplomatic passport, in appreciation of the humanitarian role he played during the war in Gaza, provided that the Ministry of Finance allocates the amount of the apartment referred to above.     https://economy-news.net/content.php?id=52985

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

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 2-25-25

Good Afternoon Dinar Recaps,

RUSSIA REJECTS BRICS, PROPOSES HISTORIC DEAL WITH THE US

Russia is slowly bowing out of the BRICS agenda of cutting ties with the US and the dollar for trade and transactions.

In a historic deal, Russian President Vladimir Putin has proposed to supply 2 million tons of aluminum to the US markets. The move could stabilize prices in the commodity metals sector and smoothen out price fluctuations and market volatility.

In addition, BRICS member Russia also outlined potential deals with the US in supplying rare earth resources. Russia has the world’s fifth-largest rare earth metals reserves that the US could use for industry and military production and benefit immensely.

The prospective economic deal covers aluminum and rare earth materials from BRICS member Russia to the US. President Donald Trump had earlier hinted that “major economic development transactions with Russia” could soon take place.

The rare earth materials are mostly used for magnet production that turns power into motion for electric vehicles (EV). It also covers the production of cell phones and other military equipment. If the deal goes through with the US, this will be a complete U-turn of policies from BRICS member Russia.

“We would be ready to offer (joint projects with) our American partners. And when I say ‘partners,’ I mean not only administrative and governmental structures but also companies, if they showed interest in joint work,” said Putin and added, “We undoubtedly have, I want to emphasize, significantly more resources of this kind than Ukraine.”

BRICS Countries Take U-Turn With the US

After Trump took over the White House in January, BRICS countries are backtracking from teaching the US a lesson. India recently rejected the idea of launching a BRICS currency and embraced the US dollar for trade. 

Brazil is also considering nixing the idea of a common currency in the upcoming summit in July.

Also, China is urging the US to not weaponize trade with tariffs. BRICS member Russia, which was a staunch supporter of de-dollarization, is now seeking business deals with the US.

@ Newshounds News™

Source:  Watcher Guru

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GRAYSCALE’S CARDANO ETF UNDER SEC REVIEW – DECISION EXPECTED BY AUG. 2025

▪The SEC has officially started reviewing Grayscale’s Cardano ETF proposal for potential approval.

▪A final decision on the Cardano ETF is expected by August 2025 after the review process.

▪Polymarket shows a 62% chance of approval, rising from 51% in January 2025.

The U.S. Securities and Exchange Commission (SEC) has officially started reviewing Grayscale’s proposal for a Cardano (ADA) exchange-traded fund (ETF). If approved, this would be a major milestone for Cardano, making it easier for investors to gain exposure to ADA through traditional markets.

This move follows NYSE Arca’s request to list and trade shares of the Grayscale Cardano Trust on the stock exchange. With the SEC now reviewing the application, the countdown to a decision has begun – one that could shape ADA’s future in a big way. A final ruling is expected within 180 days.

So, will Cardano join the ranks of crypto assets with an approved ETF? And what could this mean for ADA’s price and market adoption? Here’s what you need to know.

Cardano ETF Review Begins

On February 24, 2025, the SEC formally accepted NYSE Arca’s application, marking the start of the review process. The request was originally submitted on February 10, 2025. If approved, this ETF would allow investors to gain exposure to Cardano (ADA) through a regulated platform without needing to hold the cryptocurrency directly.

A Cardano ETF would make it easier for investors to buy and sell shares tied to ADA’s price. This could attract more traditional investors and increase ADA’s accessibility in a secure and regulated environment.

Approval Odds Are Rising

The chances of a Cardano ETF approval in 2025 are improving. Polymarket, a decentralized prediction platform, now estimates a 62% likelihood of approval, up from 51% in January. The SEC’s recent acknowledgment of multiple crypto ETF filings, including Grayscale’s XRP ETF, has contributed to this growing optimism.

How It Could Impact ADA’s Price

A Cardano ETF could boost demand by attracting institutional investors, potentially driving up ADA’s price. Analysts believe that as long as ADA holds support between $0.67 and $0.81, further gains are possible. However, if it falls below this range, downward pressure could follow.

At the moment, Cardano is trading at $0.68, with a market capitalization of $24.16 billion. Its trading volume has surged by 81.15%, reaching $1.08 billion, reflecting growing market interest.

@ Newshounds News™

Source:  Coinpedia

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