Some “Iraq News” Posted by Clare at KTFA 4-7-2025

KTFA:

Clare:  Nechirvan Barzani arrives in Abu Dhabi on an official visit

4/7/2025

The President of the Kurdistan Region, Nechirvan Barzani, arrived in Abu Dhabi, UAE, on Monday, on an official visit.

Nechirvan Barzani headed to the United Arab Emirates this morning on an official visit, where he will meet with President Sheikh Mohammed bin Zayed Al Nahyan .

According to a statement issued by the Kurdistan Region's Presidency and received by Shafaq News Agency, the two presidents will discuss cooperation relations between the UAE, Iraq, and the Kurdistan Region, in addition to the latest developments in the region and a number of issues of common interest. LINK

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Clare:  Al-Sudani announces a 128% increase in customs revenues and a 22% increase in tax revenues.

4/7/2025

Iraqi Prime Minister Mohammed Shia al-Sudani announced on Monday that customs revenues increased by about 128% and tax revenues by about 22%, higher than previous years. He also expressed the government's readiness to support all local and international entities, institutions, and companies to develop the banking sector and achieve financial stability.

This came during his sponsorship of the Iraqi Banking Sector Reform Conference, where Al-Sudani commended the efforts that contributed to the conference, commending the visions and ideas for developing the Iraqi banking sector, and the pursuit of sustainable development and strengthening Iraq's economic standing regionally and internationally.

Al-Sudani also praised the efforts of the Central Bank, banks, and teams from international and local consulting firms, according to a statement issued by his media office and received by Shafak News Agency.

Al-Sudani noted that the government assumed responsibility during a complex economic climate that required measures to ensure growth. He reviewed key achievements in the financial and economic sectors, stating that the three-year budget allowed for the development of a long-term financial plan to secure resources for vital sectors, including improvements to the tax and customs systems and maximization of non-oil revenues.

He added that customs revenues increased by 128%, and tax revenues by 22%, noting the launch of ambitious projects to reform the government banking system and enhance its service delivery capabilities.

Al-Sudani explained that the government had issued decisions to restructure the Rafidain, Rashid, Industrial, and Agricultural banks in cooperation with an international consulting firm. The government also strengthened the electronic payment infrastructure and established partnerships with financial technology companies.

He explained that financial inclusion has exceeded 40%, compared to 10% two years ago, with the updating of e-commerce and payments laws and the organization of awareness campaigns on digital payments.

He pointed to the support for small and medium-sized enterprises, which contributes to job creation, stressing that banking reforms constitute a fundamental pillar of the government's program, including a partnership with the Central Bank on strategic reforms aimed at keeping pace with international developments and expanding banking partnerships.

Al-Sudani concluded by affirming the government's readiness to support all stakeholders, achieving tangible results in developing the banking sector and expanding its projects.

The Central Bank of Iraq announced reform plans on Monday aimed at modernizing the Iraqi private banking sector and building a robust, modern, and resilient banking sector that will drive economic growth and enhance financial inclusion.  LINK

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Clare:  Al-Alaq: Digital currencies will contribute to reshaping the traditional banking system.

4/7/2025

 Central Bank Governor Ali Al-Alaq confirmed on Monday that digital currencies will contribute to reshaping the traditional banking system.

 In a speech at the Iraqi Banking Sector Reform Conference, Al-Alaq said, "The Central Bank aims to achieve a developed economy," stressing that "investment in research and development in the field of artificial intelligence must be increased."

He added that "digital currencies could reshape the traditional banking system," noting that "the Central Bank has announced its readiness to implement a plan to reform the banking sector."   LINK

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Clare: Parliamentary Finance Committee: Launching the banking reform plan is the beginning of economic reform.

4/7/2025 - Baghdad

 Parliamentary Finance Committee Chairman Atwan al-Atwani affirmed on Monday that the launch of the banking reform plan is the beginning of reforming the Iraqi economy.

 In a speech at the Iraqi Banking Sector Reform Conference, attended by an Al-Eqtisad News correspondent, Al-Atwani said, "Developing the banking sector is a fundamental pillar for developing the Iraqi economy beyond oil revenues."

 The head of the Finance Committee called for "diversifying revenue sources to cover the financial deficit."

He pointed out that "the reform and development process must be accompanied by engagement with international banks to regulate foreign remittances."

He stressed that "unofficial border crossings cause a waste of public money."   LINK

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Clare:  Launching a private banking reform plan in partnership with Iraqi and international institutions.

4/7/2025 - Baghdad

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced the launch of a comprehensive plan to reform private banks, in partnership with local and international institutions. He emphasized that the next phase will witness a qualitative shift in the nature of banking services, based on innovation and digital transformation.

During the Iraqi Banking Sector Reform Conference, which was attended by an Al-Eqtisad News correspondent , Al-Alaq said that Iraqi banks have made significant strides in developing their banking services, but they are required to further embrace modern technology. He emphasized that artificial intelligence must be at the core of future investments in the banking sector.

He added: "The world is witnessing a broad transformation in the financial structure and banking systems, which requires traditional banks to keep pace with this radical change by offering innovative services that meet customer aspirations amidst the tremendous technological acceleration."

The Central Bank Governor indicated that digital currencies will play a vital role in accelerating payment and money transfer transactions, requiring banks to develop their digital infrastructure.

He also noted that central bank digital currencies (CBDCs) could reshape the global banking landscape, adding: “Successful banks of the future will be those that embrace digital transformation tools and integrate artificial intelligence into their daily operations.  LINK

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Clare:  The Central Bank of Iraq sets regulations for the international use of bank cards. Document

4/7/2025

 The Central Bank of Iraq issued a new circular containing regulations for the use of bank cards (credit, debit, and prepaid) outside Iraq. This circular aims to strengthen oversight of international transactions and ensure the safety of future growth in international settlement payments.

The circular, dated Monday, April 7, 2025, and received by Shafaq News Agency, stated that the new cards will be activated for use outside Iraq 30 days after their issuance date. The relevant authorities will later be provided with lists of relevant merchant categories (MCC Codes) within the specified controls.

The Central Bank confirmed the suspension of these rules effective April 20, 2020, with the possibility of reviewing them periodically to support the sustainable growth of international settlement payments. 

He also noted that the current limits on international transactions involving prepaid cards, whether issued by banks or payment service companies, will remain in effect.

On the other hand, the circular clarified that travelers will continue to receive their foreign currency (dollars) at the official Central Bank rate, in accordance with the procedures adopted within the current e-governance system.

The bank confirmed in its circular that the new limits aim to regulate the use of payment cards issued by Iraqi banks, including debit and credit cards, according to the following categories:

Retirees: $10,000 per month or equivalent.

Travel: $20,000 per month or equivalent, including airfare, hotel reservations, and car rentals.

Treatment outside Iraq: $50,000 per month or equivalent.

General uses outside Iraq: $5,000 per month or equivalent.

He added that the maximum limit for using merchant bank cards outside Iraq will be $20,000 per month or its equivalent.

He also indicated that the new cards (debit, credit, and prepaid) for international use will be activated 30 days after their issuance date, with these rules to be implemented starting April 8, 2025, and to be reviewed periodically to support the growth of international payments.

The bank explained that it will later provide the relevant authorities with the merchant category codes (MCC codes) associated with these regulations, while the current ceilings for prepaid cards issued by banks or payment service providers will remain in effect.

The Central Bank sent a copy of the circular to a number of entities, including the Banking Supervision Department, the Non-Banking Financial Institutions Supervision Directorate, government and private banks, branches of foreign banks operating in Iraq, and electronic payment service companies, urging them to adhere to the aforementioned regulations.

1744019864709_Using Cards Internationally. LINK

Markets Crash, Debt Explodes: Why 2008 Was a Warm-Up for 2025

Markets Crash, Debt Explodes: Why 2008 Was a Warm-Up for 2025

Daneila Cambone:  4-7-2025

“It goes far beyond just a correction. It's the entire global debt-based system that's at risk in my opinion,” says Tim Wood, CPA and publisher of market newsletter Cycles News & Views.

 In an interview with Daniela Cambone, Wood introduces his long-term economic cycle research, explaining that historic market cycles—from the Panic of 1819 to the Dot-Com bubble—have consistently followed a pattern of boom and bust.

 However, he identifies the post-2002 era as uniquely precarious: unlike previous cycles fueled by real economic innovation, this one relies heavily on government debt and stimulus with no solid economic underpinning.

If the third decline “bites,” it could trigger a deflationary spiral similar to the Great Depression, warns Wood.

 Watch the interview to see how you can better protect your wealth in precarious times."

Chapters:

00:00 Cycles

11:02 Debt infused system

 14:21 Reset 16:40 3rd downturn

18:50 Saving or exit?

19:41 Gold

 22:45 Equity market

24:23 The Great Taking

26:49 Importance of cycles

 29:05 Takeaway

 31:04 Economic downturn

32:40 U.S. debt

https://www.youtube.com/watch?v=NLJSdVp0Wqo

Iraq Economic News and Points to Ponder Monday Afternoon 4-7-25

An Economic Expert Told Al Furat News: Iraq's Hoarding Of Gold Will Spare It The Risks Of Customs Duties.

Time: 2025/04/07 20:08:16 Reading: 210 times  {Economic: Al Furat News} Economic expert Basem Jamil Antoine believes the US move to impose tariffs represents a financial and economic coup that will have a direct impact on the global economy, given the United States' economic and military capabilities.

In a statement to Al Furat News Agency, Antoine pointed out the direct impact of these policies on gold prices, which are considered an alternative to the dollar and the euro for hoarding.

Regarding Iraq, he stated that the Iraqi dinar faces challenges in this context, as land and real estate cannot be directly acquired due to time and tax procedures.

He pointed out that the growing global demand for gold will lead to a significant rise in its prices in the coming period, especially as countries shift towards precious metals.

Regarding Iraq, Antoine explained that the country has accumulated significant quantities of gold, placing it third or fourth in the Arab world in terms of gold reserves.   LINK

Gold Prices Fall To Their Lowest Level In More Than Three Weeks

Economy | 09:16 - 04/07/2025  Mawazine News – Baghdad  Prices were affected by a broad sell-off in global markets, amid growing fears of an economic recession due to escalating trade tensions between the United States and China.

Spot gold fell 0.3% to $3,027.90 per ounce, after falling more than 1% earlier in the session, its lowest level since March 13.  https://www.mawazin.net/Details.aspx?jimare=260607

Iraqi Markets Traded More Than 555 Million Shares At This Value

Stock Exchange  Economy News – Baghdad  Iraq's stock market traded more than 555 million shares during Monday's trading session.  The value of traded shares amounted to more than 741 million dinars, traded in 561 transactions.  The ISX 60 index fell to -0.44% from yesterday's session, Sunday. https://economy-news.net/content.php?id=54189

Exchange Rates Hit 149,000 Dinars Per $100 In Baghdad

Economy | 05:04 - 04/07/2025   Mawazine News – Baghdad  The US dollar exchange rate against the Iraqi dinar remained volatile as trading closed on the Al-Kifah Stock Exchange.

Exchange offices recorded a selling rate of 149,000 dinars for $100, while the buying rate reached 147,000 dinars for $100. This disparity has left most local markets in a state of stagnation for a long time, affected by the rising US currency exchange rate.  https://www.mawazin.net/Details.aspx?jimare=260619

Parliamentary Finance Committee: Launching The Banking Reform Plan Is The Beginning Of Economic Reform

Banks   Economy News – Baghdad  Parliamentary Finance Committee Chairman Atwan al-Atwani affirmed on Monday that the launch of the banking reform plan is the beginning of reforming the Iraqi economy.

In a speech at the Iraqi Banking Sector Reform Conference, attended by an Al-Eqtisad News correspondent, Al-Atwani said, "Developing the banking sector is a fundamental pillar for developing the Iraqi economy beyond oil revenues."

The head of the Finance Committee called for "diversifying revenue sources to cover the financial deficit."

He pointed out that "the reform and development process must be accompanied by engagement with international banks to regulate foreign remittances."  He stressed that "unofficial border crossings cause a waste of public money."   https://economy-news.net/content.php?id=54179

The Central Bank announces a comprehensive reform project for the private banking sector

Economy |  04/07/2025  Mawazine News – Baghdad  The Central Bank of Iraq (CBI) unveiled reform plans aimed at modernizing the Iraqi private banking sector and building a robust, modern, and resilient banking sector that drives economic growth and enhances financial inclusion, in partnership with Oliver Wyman Consulting.

The plans include strengthening and deepening financial inclusion in Iraq, raising the efficiency and productivity of the private banking sector, and creating a fair and healthy competitive environment in the market, while enhancing the sector's resilience and ability to withstand risks.

According to a CBI statement, this project will contribute to enhancing the protection of depositors and creditors, while financial education campaigns will help restore confidence in dealing with banks.

Payment systems will be modernized to facilitate efficient and reliable transactions for both businesses and individuals, in addition to expanding the financial infrastructure, including increasing the network of branches and ATMs.

The CBI statement indicated that a prerequisite for the success of the plans is requiring all banks to comply with a set of standards and participate actively in the sector's transformation process.

The Central Bank confirmed that the key banking standards to be implemented will set maximum ownership limits to prevent excessive control (concentration) by any single entity or related parties, in addition to ensuring the presence of competent and independent boards of directors, with suitability tests being applied to all key leadership positions.

Banks will be required to adopt sustainable and viable business models by submitting consistent detailed business plans, strategic plans, financial forecasts, organizational structure, technology implementation plans, and operational management plans.

Capital adequacy and liquidity ratios will be maintained in line with global best practices to ensure banks' resilience in the face of financial crises.

The reform process will be a multi-stage journey, during which private banks will be assessed for their compliance with the required standards at various stages of the reform process. The first evaluation cycle is expected to begin in the first quarter of 2026. https://www.mawazin.net/Details.aspx?jimare=260609

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

Seeds of Wisdom RV and Economic Updates Monday Afternoon 4-7-25

Good Afternoon Dinar Recaps,

US FEDERAL AGENCIES TO REPORT CRYPTO HOLDINGS TO TREASURY BY APRIL 7

While federal agencies are required to report their holdings to the Treasury secretary, they are not required to disclose their holdings to the public.

US federal agencies are expected to disclose their cryptocurrency holdings to the Department of the Treasury by April 7, following an executive order signed by President Donald Trump earlier this year.

Citing an unidentified White House official, journalist Eleanor Terrett reported that the deadline for federal agencies to report their crypto holdings to Treasury Secretary Scott Bessent is April 7.

The disclosures will remain confidential for now. “Unclear as of now if and when the findings could be made public,” Terrett wrote.

Crypto disclosure follows Bitcoin Reserve establishment

The reporting requirement followed an executive order signed on March 7 that directed the creation of a Strategic Bitcoin Reserve and a broader Digital Asset Stockpile. The Bitcoin reserve will be seeded with BTC forfeited to federal agencies through civil or criminal asset seizures.

White House AI and crypto czar David Sacks described the reserve as a “digital Fort Knox for the cryptocurrency,” saying that the US will not sell any BTC held in the reserve. “It will be kept as a store of value,” Sacks added.

Sacks previously lamented the US government’s sales of 195,000 BTC for $366 million. The official said the BTC sold by the US government could’ve gone for billions if it had only held on to the assets.

The reserve will initially be seeded by the BTC kept by the Treasury, while the other federal agencies will “evaluate their legal authority” to transfer their BTC into the reserve.

Regarding the digital asset stockpile, Sacks said it would promote “responsible stewardship” of the government’s crypto assets under the Treasury. 

On March 2, Trump said that the crypto reserve would include assets like XRP, Solana and Cardano. The president later added Ether and Bitcoin to his crypto reserves list.

Crypto plunges as Trump tariffs shock global stocks

While Trump’s election may have positively impacted crypto markets, the US president’s next move has resulted in a market crash.

On April 5, the Trump administration hit all countries with a 10% tariff. Some countries were given higher rates, including China at 34% and Japan at 24%. The European Union was also hit with a 20% tariff.  

Following Trump’s move, the overall crypto market capitalization declined by over 8%, slipping to $2.5 trillion.

@ Newshounds News™
Source:  CoinTelegraph

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RIPPLE CEO ASKS IMF IF THEY’LL HOLD XRP—CLIP SENDS XRP ARMY INTO OVERDRIVE

▪️Ripple boss’ question regarding the position of IMF on XRP has ignited excitement within the ecosystem as analysts hint at a “grand plan” behind the scenes.

▪️According to a legal representative of the IMF, its legal framework demands that at least one country should adopt a crypto asset as a currency before the institution can make a decision to hold it.

Ripple CEO Brad Garlinghouse has elated enthusiasts as he asks the Deputy General Counsel in the International Monetary Fund’s (IMF) Legal Department, Ross Leckow, whether they have an interest in holding XRP.

In an X post shared by analyst Xaif, this discussion occurred at the Singapore Fintech Festival. Leckow, who prefaced his response, highlighted that he does not want to delve deep into the IMF’s position.

However, his conservative approach and reaction to this question, according to Xaif, implies that the IMF is making a significant move behind the scenes. Following his feedback, Garlinghouse humorously stated that Leckow appeared speechless at his question.

To clarify the confusion, the IMF’s legal team representative explained that its operation under the existing legal framework demands that at least a country has to legally recognize a digital asset as its official currency before the IMF could hold a crypto asset.

While no major economy has officially adopted a digital asset, several countries have taken the initial step to integrate blockchain-related solutions into their financial systems. Additionally, the US has taken the bold decision to create a strategic Bitcoin reserve, increasing the odds of future adoption as an official currency.

The IMF’s position on crypto integration has always been clear. According to them, their adoption could affect the effectiveness of monetary policy transmission, fiscal sustainability, as well as capital flow management measures due to their volatile nature.

Speaking at a joint conference with the South Korean government and central bank In 2023, the IMF’s Kristalina Georgieva stressed the need to avoid the negative effects of cryptos.

Our goal is to make a more efficient, interoperable and accessible financial system by providing rules to avoid the risks of crypto, and infrastructure by leveraging some of its technologies.

Garlinghouse Makes a Case for XRP

Garlinghouse earlier spoke comprehensively about the role of XRP during an event which had the IMF and the Swiss National Bank participating. As detailed in our last news piece, Garlinghouse explained that the creation of XRP was influenced by developers who recognized the limitations of Bitcoin. According to him, Bitcoin has scalability issues coupled with slow and expensive transactions.

Also, Garlinghouse spoke about how the traditional banking system has failed to fully serve some countries and payment systems. To address these challenges, he highlighted that XRP ensures that liquidity access is democratized while improving financial inclusion. 

As featured in our recent coverage, the Ripple boss is expected to make more disclosure about upcoming updates and the ongoing development around the ecosystem in the much anticipated XRPL Apex 2025.

Following the recent discussions with the IMF legal representative and the hype surrounding Leckow’s reactions, XRP investors made a marginal move into the market, pushing the price up by 1.8% in just 24 hours. At press time, the asset was trading at $2.1 with a market cap of $124 billion.

According to our recent analysis, XRP could stage a bullish reversal to $6 in the short term once the market regains momentum.

@ Newshounds News™
Source:  Crypto News Flash

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Iraq Economic News and Points to Ponder Monday AM 4-7-25

A Sudden Decision: Stopping The Supply Of Dollars To Travelers At The Official Exchange Rate.

Time: 2025/04/06 Read: 1,395 times   {Local: Al Furat News} An informed source reported on Sunday that the relevant authorities have stopped supplying travelers with US dollars at the official exchange rate of 1,320 dinars per dollar.

The source told Al-Furat News, "It was decided to stop supplying travelers with dollars at the official exchange rate of 1,320 dinars."

The source explained that "this step came as a result of the lack of sufficient quantities of the currency available to the relevant authorities, amid growing demands from exchange companies to provide dollars on a continuous basis to meet travelers' needs."  LINK

The Dollar Exchange Rate Rose Against The Dinar In Baghdad And Erbil

Sunday, April 6, 2025, | Economic Number of readings: 53  Baghdad/ NINA / The exchange rates of the dollar rose against the dinar, Sunday afternoon, in the markets of Baghdad and Erbil governorates, coinciding with the closing of the stock exchange.

The dollar prices recorded an increase with the closing of the Al-Kifah and Al-Harithiya stock exchanges, recording 147,600 dinars for every $100, while the prices recorded this morning were 147,300

dinars for every $100. Selling prices in exchange shops in the local markets in Baghdad witnessed an increase, as the selling price reached 148,500 dinars for every $100, while the purchase price reached 146,500

dinars for every $100. In Erbil, the dollar also recorded an increase, as the selling price reached 147,400 dinars for every $100, and the purchase price reached 147,300 dinars for every $100. /End

https://ninanews.com/Website/News/Details?key=1195976

Iraq's Gold Reserves Have Declined, Prompting Local Sales.

Time: 2025/04/06   Read: 2,730 times  {Economic: Al Furat News} The World Gold Council announced today, Sunday, that Iraq's gold reserves have decreased by 100 kilograms.
According to observers, the 100 kilogram shortage in Iraq's gold reserves is due to its domestic use and sale in the form of gold bullion.

According to the latest table published by the Council in April, Iraq's gold holdings decreased by 100 kilograms to 162.6 tons, down from 162.7 tons the previous month. This represents 14.5% of its remaining reserves.

The Council added that Iraq maintained its 28th place on the list out of 100 countries, indicating that Iraq came in fourth place among Arab countries after Saudi Arabia, Lebanon, and Algeria.

The Council also noted that the United States of America tops the list of countries with the largest gold holdings in the world, with 8,133,000 tons, followed by Germany with 3,351,000 tons, then Italy with 2,451,000 tons, while Iceland comes in last with two tons.

It's worth noting that the World Gold Council is headquartered in the United Kingdom and possesses extensive experience and in-depth knowledge of the factors driving market change. Its members comprise some of the world's largest and most advanced gold mining companies.  LINK

Iraqi Oil Exports To The US Declined Last Week

Sunday, April 6, 2025 | Economic Number of reads: 295   Baghdad / NINA / The US Energy Information Administration announced a decline in Iraqi oil exports to the United States during the past week.

The administration said in a table that "the average US imports of crude oil during the past week from ten major countries amounted to 6.197 million barrels per day, an increase of 549 thousand barrels per day compared to the previous week, which amounted to 5.648 million barrels per day."

It added that "Iraq's oil exports to America decreased, reaching an average of 132 thousand barrels per day, down from last week, which averaged 203 thousand barrels per day."

The administration indicated that "the largest oil revenues to America during the past week came from Canada, followed by Mexico, Brazil, and then Saudi Arabia."

According to the table, "the amount of US imports of crude oil continued from Colombia, Venezuela, Libya, Ecuador, and Nigeria." / End  https://ninanews.com/Website/News/Details?key=1195886

The Prime Minister Chairs The Regular Session Of The Higher Authority For Coordination Between Governorates

Sunday, April 6, 2025 | Politics Number of reads: 213   Baghdad/ NINA / Prime Minister Mohammed Shia al-Sudani chaired the regular session of the Supreme Council for Coordination between the Governorates./End

https://ninanews.com/Website/News/Details?key=1195943

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

Seeds of Wisdom RV and Economic Updates Monday Morning 4-7-25

Good Morning Dinar Recaps,

CRYPTO NEWS TODAY: SEC’S MARK UYEDA INVESTIGATES BILL HINMAN’S 2018 ETHER SPEECH

Big news from the SEC—Acting Chair Mark Uyeda has asked the team to take a fresh look at how the government is currently handling crypto risks and regulations. This comes as part of an effort to align with Executive Order 14192, which focuses on cutting red tape and making regulations more business-friendly.

One of the first targets is the 2019 Framework for Investment Contract Analysis of Digital Assets. This document was based on a 2018 speech by former SEC official Bill Hinman, where he suggested that whether a crypto token is considered a security depends more on how centralized the project is, rather than how it was sold. That idea has been pretty controversial in the crypto world, and it looks like the SEC is ready to reconsider it.

Uyeda isn’t just looking at Bill Hinman’s 2018 crypto speech—he’s also reviewing key documents, including:

▪️A 2022 guide for crypto companies on market chaos and bankruptcies.
▪️A 2021 risk alert about crypto investor threats due to unclear rules.
▪️A 2020 memo questioning if banks can legally hold digital assets.
▪️A 2021 advisory on mutual funds investing in Bitcoin futures.
▪️A 2020 note on COVID-19’s impact on company disclosures.

The review aims to roll back some of the stricter rules put in place during Gary Gensler’s time as SEC Chair. Gensler was known for his tough stance on crypto, which many felt was more about blocking innovation than protecting investors. His approach even got called “arbitrary and capricious” by courts more than once.

Now, with Uyeda leading the charge and folks like Hester Peirce and Paul Atkins pushing for more transparency, it looks like the SEC is opening up. They’ve been holding crypto roundtables, meeting with industry leaders, and even had a sit-down with BlackRock recently to discuss crypto ETFs and related issues.

It’s clear the SEC is starting to clean house, getting rid of outdated rules, and making room for a crypto-friendly future. Investors and crypto enthusiasts are definitely watching closely to see what changes come next.

@ Newshounds News™
Source:  Coinpedia

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GEORGIA MOVES TO ADD BLOCKCHAIN, CRYPTOCURRENCY, AND WEB3 TO SCHOOL CURRICULUM

Georgia moves to add blockchain and crypto lessons in schools to prepare students for careers in the digital economy.

▪️Georgia plans to teach blockchain and crypto in schools to prepare students for future careers.

▪️Lawmakers want students to build digital skills early to close the gap in modern education.

▪️Georgia aims to lead in blockchain by adding lessons in schools and supporting crypto policies.

Lawmakers believe schools must adapt to this financial shift. Including digital asset education will help students understand decentralized systems and digital currencies. The proposal highlights that students need skills to navigate the complex world of blockchain and crypto.

Bridging the Digital Knowledge Gap

This initiative seeks to unite traditional education models with emerging digital asset technology. The early introduction of these learning concepts helps students establish fundamental skills in new technologies. Lawmakers believe this step plays a vital role in creating a workforce ready to use emerging technology.

The resolution points out the importance of equipping students for jobs in blockchain and crypto industries. With industries adopting digital solutions, Georgia wants its students ready to lead. Schools would play a key role in shaping future innovators and professionals.

Following Global Educational Trends

Georgia’s plan follows global movements toward digital literacy in schools. For example, France has introduced Bitcoin studies in high schools. Students there explore whether Bitcoin could replace traditional currency systems.

Georgia’s resolution reflects similar goals. It seeks to ensure that students understand blockchain’s uses beyond just finance. The focus remains on preparing young learners for careers in multiple sectors that use blockchain technology.

Bipartisan Interest in Digital Legislation

The implementation of blockchain education programs by Georgia forms part of an ongoing statewide legislative agenda. Two Bitcoin Reserve Bills known as SB 178 and SB 228 were introduced to the legislative body recently. The two Bitcoin Reserve Bills demonstrate the existing bipartisan agreement about integrating Bitcoin into Georgia’s financial framework.

SB 178 enables the state treasurer to make Bitcoin investments as part of their financial portfolio. SB 228 establishes specific regulations regarding Bitcoin’s usage as well as its storage methods and transaction processes. The proposed legislation seeks to improve state finance capabilities and make the state more robust to economic changes.

Expanding Blockchain Applications

The blockchain initiatives in Georgia extend their scope into multiple sectors beyond educational and financial domains. Blockchain technology unlocks solutions to improve operations within healthcare systems, finance institutions, and supply chain management processes. Its transparent and secure nature improves data integrity and transaction security.

Lawmakers recognize these benefits and continue exploring blockchain’s potential. As global blockchain markets grow, Georgia positions itself as a leader in innovation. By integrating blockchain into education, the state prepares students to thrive in a digital economy.

@ Newshounds News™
Source:  Crypto News Land

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Follow the Roadmap

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“Tidbits From TNT” Monday Morning 4-7-2025

TNT:

Parliamentary Finance Committee: Launching the banking reform plan is the beginning of economic reform.

 Parliamentary Finance Committee Chairman Atwan al-Atwani affirmed on Monday that the launch of the banking reform plan is the beginning of reforming the Iraqi economy.

In a speech at the Iraqi Banking Sector Reform Conference, attended by an Al-Eqtisad News correspondent, Al-Atwani said, "Developing the banking sector is a fundamental pillar for developing the Iraqi economy beyond oil revenues."

The head of the Finance Committee called for "diversifying revenue sources to cover the financial deficit."

He pointed out that "the reform and development process must be accompanied by engagement with international banks to regulate foreign remittances."

He stressed that "unofficial border crossings cause a waste of public money."  link

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Tishwash:  Launching a private banking reform plan in partnership with Iraqi and international institutions.

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced the launch of a comprehensive plan to reform private banks, in partnership with local and international institutions. He emphasized that the next phase will witness a qualitative shift in the nature of banking services, based on innovation and digital transformation.

During the Iraqi Banking Sector Reform Conference, which was attended by an Al-Eqtisad News correspondent , Al-Alaq said that Iraqi banks have made significant strides in developing their banking services, but they are required to further embrace modern technology. He emphasized that artificial intelligence must be at the core of future investments in the banking sector.

He added: "The world is witnessing a broad transformation in the financial structure and banking systems, which requires traditional banks to keep pace with this radical change by offering innovative services that meet customer aspirations amidst the tremendous technological acceleration."

The Central Bank Governor indicated that digital currencies will play a vital role in accelerating payment and money transfer transactions, requiring banks to develop their digital infrastructure.

He also noted that central bank digital currencies (CBDCs) could reshape the global banking landscape, adding: “Successful banks of the future will be those that embrace digital transformation tools and integrate artificial intelligence into their daily operations. link

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Tishwash:  Iraq's gold reserves drop by 100 kilograms

The World Gold Council announced on Sunday that Iraq's gold reserves had decreased by 100 kilograms.

According to the latest table published by the Council in April, "Iraq's gold holdings decreased by 100 kilograms, reaching 162.6 tons, down from 162.7 tons the previous month. This represents 14.5% of its remaining reserves."

He added, "Iraq maintained its 28th place on the list out of 100 countries included in the table," noting that "Iraq came in fourth place among Arab countries after Saudi Arabia, Lebanon, and Algeria."

The Council also noted that "the United States of America tops the list of countries with the largest gold holdings in the world, with 8,133,000 tons, followed by Germany with 3,351,000 tons, then Italy with 2,451,000 tons, while Iceland comes in last with two tons."

The 100-kilogram shortage in Iraq's gold reserves is due to its domestic use and sale in the form of gold bullion, according to Shafaq News Agency's economic correspondent.

It's worth noting that the World Gold Council is headquartered in the United Kingdom and possesses extensive experience and in-depth knowledge of the factors driving market change. Its members comprise some of the world's largest and most advanced gold mining companies. link

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Tishwash:  Prime Minister’s Advisor Reveals Plan to Merge Rafidain and Rashid Banks

Advisor to the Prime Minister and Executive Director of the Reform Management Cell, Amer Al-Adhadh, revealed plans to merge Rafidain and Rashid Banks. While addressing the government's achievements in the field of economic reforms, he explained the contents of the "House of Reform" project and its importance to the investment file. He also outlined the contents of the draft law on public-private partnerships, which aims to enhance the investment environment in Iraq.
 
Al-Adhadh told Al-Shabaka magazine, as reported by the Iraqi News Agency (INA), in his talk about the “Reform House” project, “This project is not just a government program, but rather a comprehensive roadmap aimed at achieving sustainable development through interconnected goals, one of which is activating human capital and enhancing national competencies.”
 
He added, "Economic reforms cannot succeed without a legal and regulatory environment that attracts investment, which is what the government is working towards through this project."

Regarding cooperation with the World Bank, Al-Adhadh stated, "The World Bank commended the reforms implemented by the Iraqi government, including the "House of Reform" policies that support sustainable development, and cooperation focuses on supporting financial reforms, providing technical advice, and financial assistance to enhance the stability of the Iraqi economy and improve financial governance systems."
 
Al-Adhadh also noted that "the government has made significant progress in preparing the draft law on public-private partnerships, which is an essential part of the government's program. This partnership aims to enhance cooperation between the government and the private sector, particularly in infrastructure, transportation, and energy projects, thus contributing to stimulating the national economy and achieving sustainable development."
 
Regarding the issue of restructuring the banking sector, Al-Adhadh revealed a plan to merge Rafidain and Rashid Banks into a single entity with the aim of improving Iraq's credit rating and increasing international confidence in the banking sector. He noted that an international consulting firm has been commissioned to oversee the merger process, which includes improving financial and administrative performance and developing the digital infrastructure.

The Prime Minister's advisor also addressed the issue of economic diversification, stressing that "the government has achieved a significant increase in non-oil revenues, which is an important achievement within the framework of the income diversification strategy." He noted that "the government is focusing on improving tax administration, developing customs duties, and stimulating investment in non-oil sectors such as industry, agriculture, tourism, and technology, to ensure the sustainability of these revenues."

Al-Adhadh confirmed that "the economic reforms implemented by the government contribute to strengthening the investment environment and achieving sustainable economic growth, ensuring Iraq has a stronger and more diversified financial future."  link

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

Mot: AND!!! -- another ole ""MOT Tip"" - How to Avoid - Stress!!!! Drink water

 Mot:  . Dating Today!!! -- siigghhhhhh

MilitiaMan & Crew: Iraq-Rashid & Rafidain Bank Merger-Investment Fund-Gateway to Development-USA Senior Delegation-IQD

MilitiaMan & Crew:  Iraq-Rashid & Rafidain Bank Merger-Investment Fund-Gateway to Development-USA Senior Delegation-IQD

4-6-2025

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=t5k_L_nsC4w

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 4-6-25

Good Afternoon Dinar Recaps,

ACTING SEC CHAIR UYEDA DIRECTS STAFF TO REVIEW STATEMENTS ON CRYPTO RISKS, SECURITY LAWS

▪️Acting SEC chair Mark T. Uyeda directed SEC staff on Saturday to review several staff statements concerning cryptocurrency regulation, including letters that warn investors of risks from crypto investing and one that provides detailed guidance for applying the Howey test to digital assets.

▪️The letters, which were compiled with the help of recommendations from the Department of Government Efficiency (DOGE), will be reviewed and “…modified or rescinded consistent with current agency priorities,” Uyeda’s statement said.

Acting Securities and Exchange Commission (SEC) Chair Mark T. Uyeda directed agency staff on Saturday to review several previously issued staff statements regarding cryptocurrency investment and the application of securities laws to digital assets.

The directive, issued in accordance with Executive Order 14192—titled "Unleashing Prosperity Through Deregulation"—follows recommendations from the Department of Government Efficiency (DOGE). Uyeda noted that the staff statements will be examined to determine if they should be "modified or rescinded" to align with the current priorities of the agency.

Among the key documents slated for review, originally published in 2019, provides detailed guidance for assessing whether a digital asset is considered a security under the Howey test, which determines whether an investment involves an expectation of profits based primarily on the efforts of others. 

The application of Howey with respect to digital assets is a hotly-debated legal matter, though the SEC has made some recent clarifications, noting that memecoins are largely exempt from securities laws.

Another significant staff statement under review is a 2021 SEC staff statement that strongly advises investors to exercise caution when investing in mutual funds with exposure to the Bitcoin futures market. This statement highlighted the speculative nature of Bitcoin futures, stressing the risk of market manipulation, liquidity constraints, and volatility, particularly for mutual funds.

The SEC had expressed reservations about whether the Bitcoin futures market was sufficiently mature to support exchange-traded funds (ETFs) and other investment products without compromising investor protections, though in the time since the letter, spot Bitcoin and Ethereum ETFs have amassed tens of billions in value.

Uyeda's directive also includes reviewing guidance issued in late 2022 following high-profile cryptocurrency bankruptcies. That guidance urged companies with exposure to crypto markets to transparently disclose potential impacts to investors, highlighting risks related to custody, liquidity, reputational damage, and regulatory scrutiny.

Uyeda also flagged a Risk Alert from February 2021, warning of "unique risks to investors" from digital asset trading, and a 2020 statement from the staff of the Division of Investment Management inviting industry feedback on Wyoming's statement allowing state-chartered trust companies to custody digital assets. Uyeda also directed staff to review two statements regarding COVID-19.

The SEC is currently experiencing a staff "exodus" as hundreds of staffers take buyout offers, Reuters recently reported. More than 600 people have accepted voluntary buyout offers and agreed to leave the SEC, according to the report, more than 12% of the agency's staff. The SEC could not be immediately reached for comment by The Block.

@ Newshounds News™
Source:  The Block

~~~~~~~~~

WHAT ARE SEC’S NEW “COVERED STABLECOINS”? TETHER’S USDT MAY NOT QUALIFY!

▪️The SEC clarified that some stablecoins meeting strict criteria may not be securities.

▪️This new guidance is welcomed by some for providing clarity but criticized by others for oversimplifying risks.

▪️Tether is reportedly considering launching a new USD-backed stablecoin to comply with the SEC's guidelines.

In a rare and clear move, the U.S. Securities and Exchange Commission (SEC) has introduced new guidance that could significantly impact the stablecoin market. The agency said that certain stablecoins – now called “covered stablecoins” – may not be treated as securities, as long as they follow strict conditions.

The crypto industry has already begun to respond. Tether, one of the largest stablecoin issuers, is reportedly considering changing its strategy to fit within the SEC’s new framework.

“Covered Stablecoins are not marketed as investments; rather, they are marketed as a stable, quick, reliable and accessible means of transferring value, or storing value and not for potential profit or as investments,” the SEC stated.

What Exactly Is a “Covered Stablecoin”?

The SEC explained that covered stablecoins are not offered as investment products. Instead, they’re presented as a stable, fast, and accessible way to send or store money—not something to make a profit from.

To qualify as a covered stablecoin, the token must meet several key requirements:

▪️Be fully backed 1:1 by the U.S. dollar
▪️Be supported by low-risk, highly liquid assets
▪️Be redeemable at full value at any time

These stablecoins must not offer interest, promise profits, give voting rights, or represent any form of ownership. They are meant strictly for use in payments, transfers, or storing value—not as investments.

Since they’re sold as “digital dollars” and not investment opportunities, the SEC says these stablecoins don’t count as securities under U.S. law. This kind of clarity is unusual for the SEC, which often takes a more cautious or enforcement-first approach to crypto.

Mixed Reactions from Experts

David Sacks, a White House crypto advisor, welcomed the update. He said it offers much-needed clarity and reduces regulatory hurdles for dollar-backed stablecoins that are fully supported by safe assets. He also noted that these types of tokens would no longer need to register under the Securities Act.

However, SEC Commissioner Caroline Crenshaw disagreed. She warned that the guidance oversimplifies how stablecoins actually work and overlooks key legal issues. Crenshaw argued that the risks involved are being downplayed, and the update could create confusion about how these tokens function.

Tether Faces New Challenges

The new rules may benefit stablecoins like USDC, but they raise concerns for Tether’s USDT. That’s because the SEC doesn’t allow stablecoins to be backed by assets like cryptocurrency or gold—both of which are included in USDT’s reserves.

According to Forbes reporter Nina Bambysheva, Tether is now exploring the idea of launching a new stablecoin that would fully follow U.S. rules. This new coin would be backed only by cash and U.S. Treasuries, marking a major shift for the company.

Crypto analyst Novacula Occami also noted that Tether’s use of Bitcoin and gold in its reserves could make USDT ineligible for the “covered stablecoin” label. That could expose it to stricter regulations under U.S. securities law.

Tether’s Plan for a U.S.-Compliant Stablecoin

Despite the potential regulatory pressure, Tether doesn’t seem too worried about a possible U.S. ban on USDT. According to CTO Paolo Ardoino, the company is already thinking ahead and preparing to launch a separate U.S.-compliant stablecoin.

Ardoino said USDT will likely remain focused on emerging markets, while the new stablecoin would be designed specifically for the U.S. market and built to comply with American regulations.

Even as the wider crypto market struggles through a difficult first quarter, stablecoins are seeing strong growth. Daily usage continues to rise, and the stablecoin market added over $30 billion in Q1 alone – showing that demand remains high despite broader market uncertainty.

It’s not every day the SEC speaks plainly on crypto – so when it does, the industry listens

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

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Economist’s “News and Views” Sunday 4-6-2025

Europe Just Slammed the US With Full-Scale Tariff Strike — Crippling Blow to the US Economy

Tech Revolution:  4-6-2025

Have you felt it? That sense that big changes might be coming in how countries trade with each other?

Well, buckle up, because Europe is sending a major signal across the Atlantic Ocean, straight to the United States. The message? If new trade taxes – called tariffs – are coming from America, Europe is getting ready to push back. Hard.

Maybe you remember a few years back? Things got tense. The US put extra taxes on things like steel and aluminum coming from Europe. Europe hit back, taxing famous American products like bourbon and motorcycles.

 Now, whispers of that happening again are getting louder, especially with talk in the US, often linked to Donald Trump, about bringing back similar, maybe even bigger, trade taxes.

But Europe isn't just sitting back and waiting this time. They're making plans. Why?

What exactly is the US proposing? And why does Europe feel the need to prepare for a fight?

Today, we're breaking it all down in simple terms, so Let's unpack what's really driving these headlines.

Why is Europe so alert? Think of it like this: if you got caught in a bad storm once, the next time you see dark clouds, you prepare, right? That's Europe right now. The last round of US trade taxes hit them hard. European companies making steel, cars, food – they felt the pain. Jobs were affected.

They learned a tough lesson: being unprepared is risky. So, what are the "dark clouds" Europe sees now? Well, very recently, the US government under President Trump announced some huge new trade taxes. News outlets like the Associated Press and Politico are reporting a new 10% tax on almost everything coming into the US from any country.

On top of that, there are even higher taxes aimed at specific countries the US feels it buys too much from. For the European Union (that's the group of 27 European countries acting together), that extra tax is reportedly a steep 20% on all their goods sold to America.

China got hit even harder, reports say. Why the new taxes? President Trump stated it's to deal with an "economic emergency," boost American factories, and stop other countries from, in his words, "ripping off" the US.

 He specifically called the EU tough traders who take advantage. Europe's reaction? Immediate and strong. The head of the EU's main governing body, Ursula von der Leyen, basically said things feel chaotic and out of control.

According to Politico, she stated very clearly that the EU is "prepared to respond" to these 20% taxes. And she means business. She mentioned they are already finishing plans to hit back against earlier US taxes on steel, and "are now preparing for further countermeasures" – that means more retaliatory taxes – if talks don't work out.

 Think about what that involves: EU officials are likely right now making lists of American products they could put extra taxes on. They're checking the rulebooks to make sure their response is legally solid. And they're making sure all 27 EU countries are on the same page – because acting together is their strength.

Von der Leyen also worried about a side effect: if Chinese goods, for example, get blocked from the US by high taxes, maybe China will try to sell them super cheap in Europe instead. She warned, "We cannot absorb" a flood of cheap goods dumped on their market.

So, Europe is preparing to defend itself on multiple fronts. Other leaders, like Italy's Prime Minister, echoed this, calling the US taxes "wrong" but also stressing the need to try and find an agreement.

https://www.youtube.com/watch?v=Y9nNohtLwRo

75% Market Crash? ‘There’s No Bottom To This’ | Clem Chambers

David Lin:  4-6-2025

Clem Chambers, Founder of ANewFN, discusses what's next for the markets during this period of global turmoil.

0:00 – Intro

 1:10 - This hasn’t happened since the 1970s

5:15 - There’s no bottom to this

 7:48 - Possibility of war

15:00 - Safest place

17:00 - Dot com crash 2.0?

21:10 - America’s future

30:00 - Gold and the dollar

34:00 - Market bottom

https://www.youtube.com/watch?v=3FWjYb26lcg

EMERGENCY ALERT: What Happens Monday Will Shock The ENTIRE World! - Peter Schiff

Financial Wisdom:  4-6-2025

0:00 - Introduction: Uncertainty about the Upcoming Week (Black Monday?)

0:32 - Recession Fears and Economic Data

 1:01 - Oil Price Collapse and Recession Indicators

 1:47 - Gold, Silver, and Bond Yields Reactions

2:01 - The Fed, Interest Rates, and Economic Stimulus

3:01 - Layoffs and Economic Slowdown

4:06 - Impact of Tariffs on Businesses and Prices

5:00 - Global Economic Disruption vs. Recession

5:43 - The End of U.S. Global Economic Dominance

6:02 - Dollar and China's Economic Role

7:07 - Post-War Economic Transition and China’s Shift

9:11 - China’s Ability to Adapt to New Demand

 10:11 - Challenges for the U.S. in Building Infrastructure

 10:43 - Global Economic Liberation and Trump’s Strategy

11:59 - Opportunities in Foreign Assets and Market Dynamics

12:18 - Tech Stocks and Investment Opportunities

13:01 - Bitcoin and Its Market Behavior

https://www.youtube.com/watch?v=8c7hh9xKpXA

Iraq Economic News and Points to Ponder Late Saturday Evening 4-5-25

Iraq Takes Steps To Protect Its Economy From Trump's Tariffs

Economy | 09:47 - 04/05/2025   Mawazine News – Baghdad  The Office Of Prime Minister Mohammed Shia al-Sudani issued several directives on Saturday to protect the country's economy following the tariffs imposed by US President Donald Trump on a large number of countries.

A statement from his office received by Mawazine News stated that "Al-Sudani chaired a meeting today, Saturday, dedicated to examining the economic and commercial impacts of the US government's decision to increase customs tariffs on their imports of goods from countries around the world, and the repercussions of this step on the global economy as a whole, on crude oil prices, and the extent to which the Iraqi economy will be affected in this regard."

According to the statement, "The meeting reviewed the digital data issued by the Ministry of Trade, which reveals that the percentage of the increase in US customs tariffs on Iraqi goods was based on the difference in the trade balance between the two countries, and not because of the customs duties imposed by Iraq on US goods."   https://www.mawazin.net/Details.aspx?jimare=260571

Iraq Exports More Than $7 Billion Annually To The United States

Energy  Economy News – Baghdad   The US Bureau of Commerce revealed that Iraqi exports to the United States amounted to more than $7 billion annually.

The office stated in a statistic that "the value of Iraqi exports of goods to America amounts to an average of 7 billion and 420 million dollars annually," noting that "America imposed a customs tariff on Iraq amounting to 39%."

She added that "the share of Iraqi goods in total US imports from countries around the world is equal to 0.22%," noting that "the value of the trade balance is equal to $5.70 billion."

The trade balance is the difference between the value of goods a country exports and the value of goods it imports. If exports exceed imports, the country has a trade surplus and the trade balance is said to be positive.    https://economy-news.net/content.php?id=54104

Resuming Oil Exports From Kurdistan: A Step Toward Additional Resources For The Federal Government

Time: 2025/04/05 Read: 1,770 times   {Economic: Al Furat News} Jamal Kocher, a member of the Parliamentary Finance Committee, confirmed today, Saturday, that the invitation of the Federal Ministry of Oil to the Kurdistan Region to meet regarding the resumption of the region’s oil exports represents an important and positive step.

"There is a significant financial resource that has not been fully utilized by the federal government," Kocher told Al Furat News Agency. "Resuming oil exports will boost the country's economic resources."

He added, "The federal government continues to pay the Kurdistan Region's dues, including salaries, noting that oil exports represent an additional source that can be leveraged to support the general budget and strengthen the country's financial situation."

He explained that "this cooperation between the federal government and the Kurdistan Region may contribute to achieving greater economic stability in the future." LINK

Exchange Rates Rise In Baghdad: 148,750 Dinars Per $100

Economy | 11:02 - 04/05/2025  Mawazine News – Baghdad  The exchange rate of the US dollar against the Iraqi dinar rose in currency markets in the capital, Baghdad.

The dollar exchange rate on the Al-Kifah and Al-Harithiya stock exchanges in Baghdad
recorded 147,700 dinars for every $100. The selling price at exchange shops in local markets in Baghdad reached 148,750 dinars, while the buying rate reached 146,750 dinars for every $100.
https://www.mawazin.net/Details.aspx?jimare=260559

Gold Prices Decline In Baghdad

Economy | 12:51 - 04/05/2025   Mawazine News – Baghdad  Foreign and Iraqi gold prices witnessed a decline in the local markets in the capital, Baghdad.

Gold prices in the wholesale markets on Al-Nahr Street in Baghdad recorded a selling price of one mithqal of 21-karat Gulf, Turkish and European gold at 625,000 dinars, and a purchase price of 621,000 dinars.

The selling price of one mithqal of 21-karat Iraqi gold reached 595,000 dinars, and a purchase price of 591,000 dinars.

As for gold prices in jewelers' shops, the selling price of one mithqal of 21-karat Gulf gold ranges between 625,000 and 635,000 dinars, while the selling price of one mithqal of Iraqi gold ranges between 595,000 and 605,000 dinars.   https://www.mawazin.net/Details.aspx?jimare=260568

Jordanian Banks Are Making Huge Profits Despite The Ban On Iraqi Banks

Buratha News Agency1072025-04-04  Huge profits... The financial policy has created financial inflation for Jordanian banks.

Jordanian banks are generating huge profits in Iraq due to a fiscal policy pursued since 2004. Jordanian banks are experiencing greater financial flows than local banks due to Iraqi banks' inability to enter the remittance market or transfer funds.   https://burathanews.com/arabic/economic/458417

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 4-6-25

Good morning Dinar Recaps,

HOUSE ADVANCES STABLECOIN TRANSPARENCY AND ACCOUNTABILITY

The House Financial Services Committee voted on Wednesday to advance the Stablecoin Transparency and Accountability for a Better Ledger Economy Act, also known as the STABLE Act. The legislation received overwhelming support, with a vote tally of 32 in favor and 17 opposed.

The STABLE Act aims to establish a regulatory framework for dollar-denominated stablecoins, addressing key issues such as reserve requirements and Anti-Money Laundering standards.

@ Newshounds News™
Source:  Finance Yahoo

~~~~~~~~~

RIPPLE TO PILOT RLUSD FOR DROUGHT RELIEF IN KENYA

Ripple has launched a pilot project that will see its stablecoin, Ripple USD, used for drought relief in Kenya.

The announcement comes just days after Ripple integrated the Ripple USD stablecoin in its payments solution.

Ripple is partnering with Mercy Corps Ventures and DIVA Donate, a platform that leverages decentralized finance technology to facilitate donations to pastoralists affected by drought in Kenya, for the initiative.

The partners will leverage blockchain technology to bring financial aid via RLUSD to the targeted communities, Team Ripple noted.

As outlined in a blog post, the pilot is part of Ripple’s broader efforts to expand its impact in cross-border payments, an effort expected to accelerate with the rollout of RLUSD. As with other blockchain-based projects, the use of stablecoins is aimed at improving transparency, settlement speed, and access for the unbanked.

According to Ripple, the pilot program will demonstrate how blockchain and stablecoins can improve the delivery of aid and insurance. The trial will use RLUSD on the Ethereum network.

The RLUSD pool for the program will be open to public contributions, with anyone able to donate by connecting a wallet.

Smart contracts will hold the funds in escrow, and automatically send RLUSD to those impacted by drought. However, this will only go into action once satellite tracking detects drought triggers- with the pilot targeting automated payouts should the system detect drought conditions by May 31, 2025.

If the system determines that pastoralists are likely to face a shortage of vegetation for their livestock, each participant will receive $75 (around 9,600 Kenyan shillings) in RLUSD. Organizers say this amount is sufficient to purchase food and water for one animal for six months.

Roughly 533 pastoralists in Kenya’s Laikipia County are expected to benefit from the aid.

Ripple plans to publish the results of the pilot later this summer. Fund contributors will also have the option to withdraw their RLUSD or allocate it to future campaigns.

@ Newshounds News™
Source:  Crypto News

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Q & A Classroom Link  

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Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

“Tidbits From TNT” Sunday Morning 4-6-2025

TNT:

Tishwash:  Iraq awaits a trade delegation from the United States. These issues will be raised at the meeting.

Iraq awaits the visit of a high-level US trade delegation comprising representatives from the US Department of Commerce and a number of major US companies operating across various economic sectors, as part of efforts to strengthen economic and trade relations between the two countries.

The Prime Minister's Advisor for Foreign Relations, Farhad Ala'aldin, indicated that a high-level trade delegation from the United States will visit Iraq this week to strengthen economic and trade relations between the two countries.

Alaa El-Din said, "The visit aims to discuss investment and cooperation opportunities on priority strategic projects in Iraq, strengthen partnerships between the private sectors of the two countries, expand trade exchange, and transfer technical and technological expertise, all in a way that serves Iraq's economic development goals."

According to the Prime Minister's Advisor, the delegation includes representatives from the US Department of Commerce and a number of major US companies operating in the energy, infrastructure, technology, financial services, industry, healthcare, and general trade sectors, as well as representatives from the US Chamber of Commerce.

 Alaa El-Din considers the US trade delegation's visit a clear indication of American companies' confidence in Iraq's investment environment, while also representing a practical step toward developing bilateral economic relations.

Alaa El-Din added, "The visit will contribute to opening new horizons for cooperation, especially in sectors that the Iraqi government seeks to develop, such as energy and renewable energy, digital transformation, and banking services."

Alaa Al-Din emphasizes that despite the challenges facing the region, economic relations between Iraq and the United States are based on strategic foundations and mutual interests. He notes that the Iraqi government is working to protect its economic interests and ensure a stable business environment, thus maintaining the smooth flow of cooperation with all international partners, most notably the United States.

On October 27, Iraqi Foreign Minister Fuad Hussein, while chairing the regular meeting of the Higher Coordination Committee for the Strategic Framework Agreement between Baghdad and Washington, emphasized the importance of strengthening relations with the United States and moving towards a solid economic partnership.

Hussein stressed the need not to focus solely on military and security aspects, but rather to expand cooperation to include economic, health, educational, and environmental fields.

Iraqi-American relations are governed by the Strategic Framework Agreement, which Iraq signed with the United States in 2008. Both sides began implementing its provisions in 2009. The agreement includes 11 articles covering diplomatic, political, security, economic, and cultural areas, and stipulates long-term relations between the two countries based on the principle of sovereign equality, rights, and shared interests.  link

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

Tishwash:  The budget is awaiting its launch. No political obstacles stand in the way. 

MP Salem Ibrahim confirmed, on Saturday (April 5, 2025), that there are no political forces or blocs obstructing the sending of the 2025 general budget tables, expecting that the tables will be sent to Parliament during the next week or the week after, according to current data .

Ibrahim told Baghdad Today, "There is a clear delay in sending the budget tables, amid increasing parliamentary pressure on the government to expedite its referral to the parliamentary finance committee for discussion, in preparation for submitting it to the parliament presidency and then presenting it for reading and voting in accordance with established constitutional procedures."

He explained that "all political forces support the approval of the budget, and there have been no indications of any party seeking to obstruct or disrupt the schedules, given the urgent need for the budget to secure the entitlements of governorates and various social groups, in addition to the financial obligations that depend on its approval ."

Ibrahim warned that "the continued delay in submitting and approving the budget will directly harm project funding and the implementation of financial plans in various governorates," stressing that "approving the budget has become a national option supported by all political parties without exception ."

The MP concluded his statement by saying, "There are no attempts to postpone the schedules until the next parliamentary session. All we are waiting for is the timing of the government's submission ."

The state's general budget is one of the fundamental pillars of financial and economic management in Iraq. The government relies on it to finance development projects, provide services, pay salaries, and fulfill social obligations to various segments of society .

With the adoption of the first three-year budget in 2023, many hoped the delays would be shortened, but the detailed annual schedules still need to be submitted, discussed, and voted on by Parliament .

These statements come at a time of mounting parliamentary and popular pressure on the government to expedite the release of schedules, amid a growing need to activate stalled projects and disburse dues to governorates, employees, and contractors, amid mounting economic and financial challenges link

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

Tishwash:  95 trillion dinars are held outside the banking system. What is their impact on the economy?

 Prime Minister's advisor, Mazhar Mohammed Saleh, confirmed on Saturday that the widespread use of digital payment systems allows citizens to borrow at lower costs, noting that 95 percent of the country's 109 trillion dinars are held outside the banking system.

"The positive steps towards activating e-commerce are aligned with the government's and the Central Bank's efforts to integrate hoarded funds (cash leakage) into the banking system, which will contribute to strengthening the national economy and achieving financial stability," said Mazhar Mohammed Saleh, an advisor to the Prime Minister.

He pointed out that "the Monetary Authority had previously prepared regulations and registration procedures to obtain a license to practice this trade, in a coordinated manner that contributes to regulating the market and enhancing consumer confidence."

He added, "The government and Central Bank's steps to enhance confidence and activate e-commerce are in line with the launch of digital transformation projects. This has been the case since the Central Bank announced the launch of strategic projects to support digital transformation, including the instant payments project, local cards, and unified payment gateways, all of which aim to enhance financial inclusion and facilitate digital banking operations.

He pointed out that "all measures to address information technology and integrate it into digital payment systems are in line with the country's digital renaissance, the community's financial culture, and the development of monetary behavior in relation to inherited customs, traditions, and cultures. Hoarding money at home instead of depositing it in banks remains a prominent economic challenge in Iraq."

He explained: "Estimates indicate that approximately 87% of the money supply, or approximately 95 trillion dinars out of a total of 109 trillion dinars, is held outside the banking system, preventing a significant portion of the nation's wealth from effectively participating in the economy."

He explained that "the more digital payment systems are used, including e-commerce, the more efficient banking activity becomes and the fewer leakages outside banks. This gives official and licensed banking units the greatest opportunity to extend more credit or lend to citizens at a lower cost and with greater efficiency, thanks to the often lower interest rate." 

He noted that "the parallel market for usurers, which deals with funds circulating or hoarded outside the banking system, is a very dangerous, illegal, and costly market for citizens and the national economy in terms of engaging in credit operations or lending at very high usurious interest rates, or what is known as the usurers' market, due to the ambiguity of its operations.

 In addition, some of its activities conflict with the Anti-Money Laundering Law due to the lack of transparency in financing and the absence of governance elements, accompanied by trading and recovery risks."   link 

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Mot: .. Summers acoming -- Dads Need to Prepare!!!!

Mot: . Just in Time fer Spring!!!