MilitiaMan and Crew: Iraq Dinar Update-Integration-Global Financial System-Meta & Google Interest-UN-A Banking Powerhouse

MilitiaMan and Crew:  Iraq Dinar Update-Integration-Global Financial System-Meta & Google Interest-UN-A Banking Powerhouse

5-30-2025

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=5okLJIx7byY

Iraq Economic News And Points To Ponder Friday Afternoon 5-30-25

Amid Anticipation Of The OPEC+ Decision, Oil Is Heading For A Weekly Decline.

economy | 09:08 - 05/30/2025  Mawazine News - Follow-up:  Oil prices are heading for a weekly decline of more than 1% during Friday's trading, amid volatility in court decisions regarding US tariffs and the market's anticipation of a possible increase in OPEC+ production.

Brent crude futures fell 26 cents, or 0.41%, to $63.89 a barrel by 0104 GMT. Brent July futures expire on Friday.  US West Texas Intermediate crude fell 27 cents, or 0.44%, to $60.67 a barrel, according to Reuters data.

A US federal appeals court temporarily restored President Donald Trump's tariffs on Thursday, overturning a trade court's decision on Wednesday that had suspended their implementation.

The decision caused oil prices to fall by more than 1% on Thursday as traders assessed its impact. Analysts said uncertainty would continue as the court battles over the tariffs continue.

The OPEC+ alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies, is expected to decide to increase oil production in July when it meets on Saturday.

OPEC is also seeking to ensure that some countries, such as Kazakhstan, reduce their production, which exceeds agreed-upon levels.  https://www.mawazin.net/Details.aspx?jimare=262038

Find Out The Quantities Of Iraqi Oil Exports In The First Third Of 2025.

Economy | 01:01 - 05/29/2025   Mawazine News - Baghdad -  The Iraqi Oil Marketing Company (SOMO) revealed on Thursday that the country's crude oil exports during the first third of the current year exceeded four million barrels.

According to SOMO statistics reviewed by Mawazine News, "Iraq's total oil exports during the first four months of the current year amounted to 406,062,835 barrels, at a rate of 101,515,713 barrels per month."

The statistics showed that "the total exported from Basra and central fields through Iraqi ports amounted to 392,178,537 barrels, while the total exported from Qayyarah field in Kirkuk amounted to 3,789,906 barrels."

They also indicated that "oil exports from the modern Kirkuk depot to Jordan during this period amounted to 1,339,410 barrels."

According to its statistics, SOMO stated that "financial revenues from exports for the past two months of March and April amounted to $14 billion, 454 million, 815 thousand, and 947." https://www.mawazin.net/Details.aspx?jimare=262008

Iraq Stock Exchange Indices Rose During The Fourth Week Of May

Economy | 03:57 - 05/29/2025  Mawazine News - Baghdad -  The Iraq Stock Exchange announced, on Thursday, the weekly trading indicators for the fourth week of May 2025, indicating a rise in the two main trading indicators and a noticeable activity in the trading volume.

The market stated in a statement received by Mawazine News that it "organized five trading sessions during the week extending from Sunday (May 25) to Thursday (May 29), indicating that the number of traded shares exceeded 6 billion shares, while the value of trading amounted to more than 11 billion Iraqi dinars."

It added that "the general trading index (ISX60) opened the first session of the week at (1002.79) points, to close at the end of the week at (1017.58) points, recording an increase of (1.45%). The (ISX15) index also recorded an increase of (1.90%), as it rose from (1123.69) points at the beginning of the week to (1145.42) points at the end."

The statement indicated that "(3,894) buy and sell contracts were executed on shares of companies listed on the market during the week's sessions, which reflects a noticeable activity in trading and market movement."   https://www.mawazin.net/Details.aspx?jimare=262019

Gold Prices Rise As Investors Buy

Thursday, May 29, 2025,  | Economic Number of reads: 298  Baghdad / NINA / Gold prices rose on Thursday, as investors rushed to buy after the decline in the yellow metal's prices.   Gold futures for August (Comex) rose by 0.46% to $3,343.50 per ounce.

Spot contracts for the yellow metal rose by 0.65% to $3,322.36 per ounce, according to trading data. / End   https://ninanews.com/Website/News/Details?key=1229635

The Dollar Exchange Rate Rose Against The Dinar In Local Markets 

Thursday, May 29, 2025 | Economic Number of reads: 233  Baghdad / NINA / The dollar prices rose in the markets of Baghdad and Erbil, on Thursday, with the closing of the stock exchange at the end of this week.

The dollar prices witnessed a rise with the closing of the Al-Kifah and Al-Harithiya stock exchanges, recording 141,200 dinars for every $100, while this morning it recorded 140,800 dinars for every $100.

The selling prices in the exchange sector in the local markets in Baghdad recorded an increase, as the selling price reached 142,250 dinars for every $100, while the purchase price reached 140,250 dinars for every $100.

In Erbil, the dollar also recorded an increase, as the selling price reached 141,350 dinars for every $100, and the purchase price reached 141,200 dinars for every $100. /End https://ninanews.com/Website/News/Details?key=1229679

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

Seeds of Wisdom RV and Economic Updates Friday Morning 5-30-25

Good Morning Dinar Recaps,

XRP LAWSUIT: NEW MYSTERIOUS ‘DECISIVE EVIDENCE’ TO CHANGE RIPPLE OUTCOME?

▪️ Mysterious Filing Resurfaces: Justin Keener submits an emergency motion claiming “decisive evidence” that could aid Ripple in its lawsuit.

▪️ Ripple vs. SEC Drama Continues: Legal experts weigh in as the XRP community watches how this filing might impact the case before June 16.

The XRP lawsuit never “fails to entertain” and it just got interesting. A mysterious filing by Justin W. Keener with an emergency motion has resurfaced again.

Decisive Evidence to Change the Outcome?

Keener says that he has “decisive evidence” which could change the outcome of the Ripple vs. SEC case in favor of Ripple. This unexpected move invited comments from experts like Bill Morgan and Marc Fagel.

“XRP Case Never Fails to Surprise”

Bill Morgan shared that he expected some kind of filing, especially with the 60-day deadline for a status update nearing on June 16. He didn’t expect a lengthy, emotional rant against the Howey Test and its court interpretations, especially about “investment contracts.” The rant also criticized the SEC’s actions over the past 90 years.

“This case never fails to entertain or end,” he said, which shows how unpredictable the lawsuit has become.

Marc Fagel also pointed out that this is the second time the same individual has submitted documents. The SEC even responded to the first one but questioned why the court hasn’t shut down the person’s PACER account yet, given the unauthorized filings.

Keener’s first attempt to submit his “decisive evidence” in the Ripple case was shut down back in April, but he’s now trying again. Keener was recently fined $10 million for illegally trading penny stocks without registering as a dealer.

Will This Impact the Lawsuit?

The XRP community is watching closely to see if this would have any impact on the lawsuit. Most expect the court to reject it again, but how the judge and SEC respond this time will show whether it has any real impact.

In a recent letter to the SEC, Ripple said that fungible crypto assets like XRP aren’t securities in secondary sales. Citing legal expert Lewis Cohen and a 2023 court ruling, Ripple argued that these tokens don’t carry the legal traits of securities and requested the SEC to adopt clearer rules, noting that XRP itself was ruled not a security in public trading.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

BRICS: 44 COUNTRIES ALIGN WITH DE-DOLLARIZATION AGENDA

A total of 44 countries are aligning with the de-dollarization agenda kick-started by the BRICS alliance. The 11-member bloc is rewriting trade policies to benefit their national economies and currencies while ignoring the US dollar.

The shift against the greenback is accelerating as emerging economies are bringing investments back home. Developing countries are cutting ties with the US-based financial investments such as bonds, and accumulating gold and local currencies in their reserves.

The economic policies of the White House have caused extreme financial distress in developing countries. From Trump initiating tariffs to trade wars and global dominance, emerging economies are siding with BRICS as the bloc advances the de-dollarization agenda.

The US now stands alone on the global stage as even the European Union, which is its close ally, is considering the euro for transactions. Several leaders have openly called to reduce dependency on the USD and focus on European assets.

44 Countries Align With BRICS De-Dollarization Agenda

Vietnam became the latest country to show interest in the BRICS de-dollarization agenda in 2025. Around 44 countries are interested in BRICS expansion and officially taking part in the de-dollarization policies. The nations who are on the sidelines want to dismantle the US dollar’s dominance and replace it with local currencies.

The upcoming 17th summit in Rio de Janeiro will signal how fast the process will gain shape next. BRICS made it clear that the long-term goal of the alliance is to fast-track de-dollarization and end the US dollar’s supremacy. It is reported that many more countries could join the bandwagon from Asia and nations from the African region.

Emerging economies want to use BRICS as a stepping stone to officially launch the de-dollarization roadmap in their respective countries. They would have the backing of the New Development Bank (NDB) which can disburse loans in local currencies for infrastructural developments.

 @ Newshounds News™
Source:  Watcher.Guru

~~~~~~~~~

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Thank you Dinar Recaps

“Tidbits From TNT” Friday Morning 5-30-2025

TNT:

Tishwash:  New Partnership to Connect the Middle East and Europe via Iraq

Zain Omantel International (ZOI) has announced a partnership with Iraq's Horizon Scope Telecom and the Iraqi Telecommunications and Information Company (ITPC), a government-owned company under the Iraqi Ministry of Telecommunications.

This partnership enables ZOI to create a digital telecommunications corridor stretching from the Middle East to Europe through Iraq, offering alternative terrestrial connectivity options that provide higher levels of capacity, security and efficiency.

According to a statement from ZOI, the route will use terrestrial fibre connectivity that utilises Iraq's position as a digital gateway, creating more reliable services that are less susceptible to interruptions. It will pass through Turkey and make its way up to Frankfurt, Germany. The new corridor will act as an alternative to traditional subsea routes by bypassing some of the turbulent areas. The route will enable international businesses, telecom operators and hyperscalers to expand their reach via robust, low-latency infrastructure, ensuring seamless connectivity between the Middle East and Europe.

Mr. Sohail Qadir, CEO at ZOI, said:

"By working together, we will enhance regional and international connectivity, offering higher capacity, security, and efficiency for businesses, operators and hyperscalers across continents."

Mr. Ahmed Abdulsalam, the Managing Director of Horizon Scope, said:

"Offering alternative terrestrial connectivity routes is a critical way to protect against infrastructure vulnerabilities, ensuring that enterprises can capture more opportunities and scale with reliable connectivity."

Mr. Ali Y. Dawood, the Director General of ITPC, said:

"This partnership marks a significant milestone in strengthening Iraq's position as a connectivity corridor, especially by providing an alternative path to Europe. We are committed to delivering connectivity solutions that the people of Iraq can trust and use to enable seamless global connectivity."  link

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Tishwash:  The budget schedules will be released in mid-June.

The Finance Committee of the Iraqi Parliament revealed government efforts to submit the 2025 budget tables to Parliament, expecting the tables to be submitted to Parliament in the middle of next month. 

Committee member Moein Al-Kadhimi said in a press statement, "We have received information that the Ministry of Finance, along with the Ministry of Planning, is preparing budget tables for the year 2025 based on recent financial and economic changes, with the decline in oil prices. We expect these tables to be submitted in mid-June."

 Al-Kadhimi explained, "These agendas will reach the committee when the House of Representatives resumes its sessions. If the agendas reach the House, it will be obligated to hold sessions. This issue will certainly not be free of disagreements, whether political or technical. We may need approximately a month to vote on the agendas after they officially reach the committee and study them from various angles."  link

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Tishwash:  Huge untapped wealth... Iraq's top 5 mines

Iraq's five most prominent mines reveal a map of mineral wealth that remains untapped due to decades of security challenges that have led to the neglect of these resources.

 According to a report published by the Energy Platform, Iraq's most prominent minerals include "sulfur, phosphate, and rock salt, along with strategic minerals such as iron, manganese, zinc, and lead." The report indicated that "despite the dominance of oil in the economy, Iraq boasts vast mineral resources concentrated in a number of mines."

The platform stated in its report: "The mining sector in Iraq has been marginalized for decades due to political and security tensions. However, recent years have witnessed increased interest in revitalizing this vital sector. The Iraqi government is currently attempting to attract international investment to revive these mines, particularly with the move to diversify the economy away from its reliance on oil."

She added: "Geological data and surveys indicate that Iraq possesses vast reserves of important ores such as sulfur, phosphate, rock salt, iron, and manganese, some of which are ranked among the largest in the world. International reports also reveal that Iraq holds the world's largest reserves of free sulfur, in addition to significant reserves of silica sand."

Energy highlighted the five most prominent mines in Iraq, which form a unique geological map that could position Iraq among the region's leading mineral-producing countries.

Al-Mashraq Mine

The Mishraq mine is one of the largest natural sulfur mines in the world, containing vast reserves of natural sulfur close to the Earth's surface. Sulfur is extracted from the mine by fusion and is used in the fertilizer, petroleum product, and water treatment industries.

According to Energy, "exploitation of the mine began in the 1960s and reached its peak in the 1970s, but ceased after 2003. Despite plans to rehabilitate it, the mine remains out of service. The mine consists of three fields. The first field's reserves are estimated at 23.5 million tons, the second field's reserves are 65.8 million tons, and the third field's reserves are 224 million tons."

The Mishraq mine suffered extensive damage during the ISIS era, when the group set fire to sulfur storage facilities in 2016, causing a rare environmental disaster.

Akashat Mine

The Akashat mine, located in Anbar Governorate, is one of the richest phosphate deposits in the Middle East, with total reserves estimated at more than 7 billion tons, making it one of the top five mines in Iraq.

She said: "The extracted phosphate is used in the manufacture of fertilizers, phosphoric acid, and animal feed, and its reserves in the western desert of Iraq are estimated at more than 10 billion tons."

The mine includes an open quarry, a processing plant, and a railway line connecting it to the Al-Qaim plant. However, the infrastructure has been damaged by wars and terrorism, halting production for many years. Efforts are underway to restart the mine through investment partnerships .
 
Samawah Mine

The Samawah mine, located in Muthanna Governorate in southern Iraq, is "one of the five most prominent mines in Iraq specializing in extracting rock salt. The salt ore there is distinguished by its high quality and pure sedimentary composition, and is used in the food and chemical industries," according to what the "Energy" platform reviewed.
 
She added, "The mine operates intermittently and is managed by the General Company for Mining Industries. It suffers from a lack of investment, but it covers a significant portion of the local market's needs, with the potential to develop it into a regional center for salt exports."
 
Iron and manganese

Sulaymaniyah Governorate in the Kurdistan Region has "promising areas for iron deposits, particularly in Qara Dagh and Birspi, where sedimentary rocks contain hematite and magnetite ores at concentrations ranging from 30 to 45%."

Despite these positive indicators, according to the Energy report, "none of these mines have been commercially exploited yet. Manganese is found in areas such as Soran and Dohuk, but exploration is still preliminary. Factors such as the lack of infrastructure and transportation, in addition to weak financing, represent the most significant obstacles to developing these sites."

Zinc and lead

The Ministry of Energy explained that "there are indications of the presence of good-quality zinc and lead deposits within MVT-type replacement carbonate formations in mountainous areas near the Turkish and Iranian borders, such as Mergasor, Zakho, and Qalaat Diza."

"The main minerals there include galena and sphalerite, along with barite and fluorite. Despite the presence of these resources, the mines have not yet been exploited, but they represent a golden opportunity for Iraq's future plans to develop the mining sector."  link

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Mot:  . Been in This ""RV"" Thingy Way toooo Long I Thinks... to do list

Stealth QE, Fed Secretly Bought $43.6B in Bonds, Why are they Hiding it?

Stealth QE, Fed Secretly Bought $43.6B in Bonds, Why are they Hiding it?

Daniela Cambone:  5-29-2025

The Federal Reserve’s recent actions are sparking debate about whether they’re quietly resurrecting quantitative easing (QE).

Michael Gentile, founding partner at Bastion Asset Management, argues emphatically that they are. In a recent interview with Daniela Cambone on ITM Trading, Gentile pointed to the Fed’s purchase of $43 billion in U.S. bonds as a sign of “how precarious the situation” has become for the U.S. economy.

While the Fed may be avoiding the “QE” label, Gentile believes this intervention is driven by concerning underlying factors. He highlights the rising U.S. deficits and a dwindling pool of natural buyers for U.S. debt. This leaves the Fed increasingly pressured to step in and prop up the market for U.S. Treasuries.

But the ramifications extend far beyond U.S. borders. According to Gentile, this situation is triggering a significant shift in global reserve strategy. Central banks around the world are reportedly diversifying their holdings, reducing their reliance on the U.S. dollar and actively accumulating physical gold.

“We’re seeing a multi-year, multi-decade rotation out of U.S. dollar assets into gold,” Gentile stated. This isn’t just a short-term reaction to market volatility; it represents a fundamental re-evaluation of global economic security.

The concerns stem from the potential for a self-perpetuating cycle. Increased government spending leads to larger deficits, requiring more borrowing. If the market isn’t willing to absorb this debt at acceptable interest rates, the Fed might be forced to intervene, artificially suppressing rates and potentially fueling inflation.

This intervention further devalues the U.S. dollar, making it less attractive as a reserve currency. Central banks, tasked with managing their nation’s wealth and protecting its economic stability, are then driven to seek alternative assets.

Gold, a traditional safe-haven asset, is seeing renewed interest. Its intrinsic value and historical resilience make it an attractive alternative to a potentially weakening dollar. Central banks diversifying into gold are essentially hedging against the risks associated with U.S. debt and the ongoing economic uncertainties.

Gentile’s perspective suggests that investors should carefully consider their own portfolio allocations. While the U.S. dollar remains a dominant force in the global economy, increasing diversification into assets like gold could provide a hedge against potential devaluation and economic instability.

The long-term implications of these trends remain to be seen. However, the growing concerns about U.S. debt and the flight to gold highlight the importance of staying informed and considering a diversified investment strategy in an increasingly uncertain global economic landscape.

https://youtu.be/p8HYs3Cx8n4

Iraq Economic News And Points To Ponder Thursday Evening 5-29-25

Government Spending And Its Impact On Economic Growth In Iraq

Economic researcher Bassam Raad   Bassam Raad | Economic Researcher  Government spending is considered one of the main factors influencing economic growth in Iraq. It plays a fundamental role in stimulating local economic activity and has multiple impacts, ranging from positive to negative.

In a press statement by the Economic Advisor to the Prime Minister, Dr. Mazhar Mohammed Salih, published in Al-Mada newspaper, issue No. 5916, issued on Thursday, May 29, 2025, the Advisor said, "The country relies on oil revenues to finance public expenditures, representing up to 90% of total revenues, while government spending constitutes approximately 50% of the gross domestic product (GDP), which translates into approximately 85% of total demand, or spending on economic activity." End.

In this article, we will review the impact of government spending on economic growth in light of the Advisor's statement.

The Importance of Government Spending

When government expenditures constitute a large percentage of the GDP, this means that the government plays a major role in the economy. Government spending contributes to infrastructure, education, and health, enhancing the economy's ability to grow.

Dependence on Oil Revenues:  Iraq relies heavily on oil revenues, making government spending vulnerable to oil price fluctuations. Over the past two years, Iraq has seen an increase in government spending due to rising oil prices, but this increase now appears unsustainable with prices currently on a downward trend.

The Gap Between Operating and Investment Spending:  There is a significant gap between operating spending, which constitutes 70% of total public spending, and investment spending. Reducing this gap is essential to boost economic growth.

Fiscal Deficit: Data published on the Central Bank's website indicate that the total domestic debt increased from 70 trillion dinars in January 2024 to 80 trillion dinars in October 2024.

This means there is an actual deficit in the 2024 budget, covered through domestic borrowing and deductions from treasury transfers. The deficit is estimated at 4.2% of GDP in 2024. This deficit reflects the large size of spending compared to available revenues, increasing pressure on the economy.

Impact on Economic Growth:  Economic growth in Iraq is heavily dependent on government spending, especially given the weakness of other economic sectors such as industry and agriculture. This reliance could lead to economic risks such as deflation in the event of fluctuations in the oil asset cycle.

In conclusion, government spending, which amounts to nearly 50% of GDP, reflects a heavy reliance on the government for economic activity, raising concerns about future economic growth given the unsustainability of spending if oil revenues collapse. https://economy-news.net/content.php?id=55990

Foreign Reserves Between Inflation Targeting And External Rent Shocks

Dr. Haitham Hamid Mutlaq Al-Mansour  Monetary policy relies on a fixed exchange rate system to guide the real exchange rate towards the short-term target inflation rate. This system is appropriate for the Iraqi economy, as real output values ​​are linked to global prices due to the unilateral structure of the economy and the sharp decline in the contribution of non-oil exports to fixed capital formation. Therefore, the fixed exchange rate system was a realistic option to avoid the erosion of the value of the dinar.

Due to the impact of external rent shocks, controlling foreign reserves (dollars, gold, and securities included on the asset side of the Central Bank's balance sheet as Iraq's external debt) has become an instrumental approach to managing the Central Bank's responses to the aforementioned shocks.

This involves regulating exchange rate fluctuations, targeting inflation rates. Inflation can rise and fall due to external rent shocks, leading to fluctuations.

Therefore, the Central Bank uses its reserves to sterilize the dinar's expansion through dollar purchases and sales, and cash transactions in the stock market, both buying and selling, to achieve the target exchange rate.

The movement of foreign reserves is linked to public spending on oil revenues in dollars after the Central Bank exchanges them for dinars to meet demand from the private and public sectors, as well as government and household purchases. Depending on the surplus and deficit in the balance of payments, reserves grow or shrink.

When oil revenues rise, the central bank refrains from financing the budget deficit, and the government reduces its spending, aiming to raise foreign reserves to be used to finance the budget deficit when oil revenues decline again.

Foreign reserves witnessed a significant increase due to the positive shock in the second half of 2021, reaching 3.244 million barrels per day at an average price of $110 per barrel. This increased Iraq's surplus in public finances and overall external balances, as reserves exceeded $90 billion, helping to stabilize the stabilization system and inflation targeting.

However, with global oil prices heading towards a negative shock this year (2025) to less than $60 per barrel, and the Central Bank continuing its sterilization policies and measures towards international compliance, this led to a decline in reserves to less than $97 billion in March 2025, after having been around $105 billion in December 2024.

Due to the recent shock, the Central Bank resorted to compensating by increasing its foreign exchange sales.

Therefore, in light of external rent shocks, we see the need for coordination between government policy and the Central Bank. From the government policy side, spending must be restricted to purely technical limits, thus deepening the reduction of the government deficit and strengthening the strategic role of reserves.

Monetary policy must sustain its goal of achieving a stable inflation rate by managing the movement of the dollar exchange rate and demand for it in the interest of price stability and reducing costs in favor of rational spending policies.

Achieving low and stable inflation is an important factor in enhancing the local and foreign investment climate, which is linked to related economic policies, including commercial, agricultural, and industrial policies.

In short, the dependence of foreign reserve volatility on external shocks will remain a limiting factor in the national economy's ability to combat inflation and support the investment climate. Therefore, two levels of optimal solutions can be identified. The first, at the strategic level, involves sustained coordination between fiscal and monetary policies.

The second, at the macro and structural level of the Iraqi economy, lies in addressing the rentier nature of the economy by gradually increasing the contribution of non-oil GDP to meet aggregate domestic demand, while supporting export diversification policies.   https://economy-news.net/content.php?id=55965

The Development Bank Announces Its Diamond Sponsorship Of The Anti-Money Laundering And Combating The Financing Of Terrorism Conference In Baghdad.

Banks  Economy News – Baghdad  The International Development Bank announced on Thursday its sponsorship of the Anti-Money Laundering and Combating the Financing of Terrorism Conference in Baghdad.

In a statement seen by Al-Eqtisad News, the bank said, "Based on its strategy based on compliance and transparency, the International Development Bank, one of the largest private banks in Iraq, announced its participation as the diamond sponsor of the second Anti-Money Laundering and Combating the Financing of Terrorism Conference, which will be held at the Rashid Hotel in the capital, Baghdad, over two days, May 28 and 29, 2025, under the patronage of Prime Minister Mohammed Shia Al-Sudani, and with the participation of an elite group of banking leaders and regulatory bodies, both locally and internationally."

He added, "This conference is being organized by the Union of Arab Banks in cooperation with the Central Bank of Iraq and the Iraqi Private Banks Association, under the title 'Challenges Facing Arab Banks in Complying with International Laws and Legislation and Meeting the Requirements of Correspondent Banks.'

 It brings together Iraqi bankers and regulatory authorities to highlight the most prominent challenges that continue to hinder Iraqi banks from opening effective channels with international financial markets and correspondent banks, in addition to reviewing ways to enhance the confidence of the international financial community in the Iraqi banking sector."

The bank explained that "this conference provides a high-level platform for discussing the challenges facing Arab banks in meeting correspondent banking requirements and implementing international best practices in the areas of governance, risk management, compliance, and combating money laundering and terrorist financing, with a focus on the importance of technological and digital development to enhance oversight and transparency systems."

"We are proud to sponsor this prominent banking event, which represents a strategic platform for exchanging expertise and enhancing coordination between banks, financial institutions, and regulatory authorities," said Ziad Khalaf Abd, Chairman of the Board of Directors of the International Development Bank, according to the statement.

He stated, "Our commitment to compliance and transparency is not just a regulatory imperative, but an integral part of our vision to achieve sustainable growth, enhance the bank's leading position in the financial sector in Iraq, and position it on the regional and international stage."

The bank noted that "the conference will address a number of strategic financial topics, including: enhancing integration with the global financial system and developing relationships with correspondent banks, preventing the risks of inclusion on grey and black lists, building a culture of institutional compliance, and activating cooperation between internal departments.

 It will also review the applications of financial technology and artificial intelligence in combating financial crimes, highlight the role of central banks in supporting sustainable compliance, and strengthen partnerships with regional and international institutions to achieve global standards."

He explained that "the conference will be attended by decision-makers in the banking sector, as well as managers of compliance and risk, internal audit, anti-money laundering, information security, and other specialized personnel, as part of the effort to enhance the efficiency of Arab banking and modernize the institutional structure in line with the requirements of the current stage." https://economy-news.net/content.php?id=55982

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

The Financial Reset Has Begun

Francis Hunt: The Financial Reset Has Begun

Wealthion:  5-29-2025

Francis Hunt, founder of The Market Sniper, joins Maggie Lake for an alarming and wide-ranging macro discussion.

He warns that the global financial system is already collapsing, starting with the U.S. bond market and spreading across fiat currencies worldwide.

According to Francis, we’ve reached the end of a 45-year supercycle of debt, and what comes next is a full reset: collapsing markets, a global depression, rising authoritarianism, and the dawn of a new digital system.

Key Topics:

Why the 40-year bond bull market is dead

How fiat currency is losing its credibility fast

Why gold is the ultimate reserve asset, and will go parabolic

The real role of Bitcoin and select digital tokens

How CBDCs will power the next monetary system

Why property and equities could crash hard

The coming wealth shift from West to East

How governments will clamp down with surveillance and taxation

What investors can do to protect and position themselves

Chapters:

0:34 - Francis Hunt’s Bold Forecast: The Debt Collapse Has Begun

5:10 - What Does “Collapse” Really Mean? Francis Breaks It Down

17:31 - Inflation Explosion? How Fast Prices Could Spiral

22:06 - Why the Next Crisis Could Be Immune to QE

 31:32 - The First Domino: Stocks, Housing, or Credit?

 43:50 - How to Protect Your Wealth Before It’s Too Late

 50:32 - Gold Panic or Golden Opportunity?

57:06 - Could Bitcoin Replace the Dollar as Reserve Currency?

1:01:23 - Gold vs. Crypto: Which Will Lead the Next Financial Era?

1:04:32 - What Could Stop the Collapse—and Will It Happen in Time?

https://www.youtube.com/watch?v=Cp9NM9sbjEM

Iraq Economic News And Points To Ponder Thursday Afternoon 5-29-25

The Iraqi Dinar Is Recovering, While Markets Are Dying. An Economic Recession Is Hitting Kurdistan.
 
Baghdad Today – Kurdistan  With markets hushed and shelves increasingly empty, the Kurdistan  Region is experiencing economic stagnation despite signs of recovery in the rest of Iraq, with the dollar's exchange rate declining and the dinar's strength recovering.
 
While some provinces are breathing a sigh of relief, Kurdistan remains mired in a vicious cycle of mounting crises, with citizens seeing no sign of this apparent improvement.

The Kurdish street isn't asking about economic indicators, but about a missing salary, a lost job opportunity, and cash flow that has become as scarce as rain in a time of drought.
 
There's no dinar in hand, no dollar in pocket, just a long wait for a hope that may never come, and
suffering that deepens with every day that salaries are delayed and the circles of unemployment expand.
 
"The problem is not the exchange rate"
 
In this context, experts are increasingly warning that the crisis lies not in the exchange rate,
but rather in the absence of economic policies that ensure the benefits of the improvement reach citizens.
 
This was pointed out by economic expert Farman Hussein on Wednesday (May 28, 2025), who
asserted that the  Kurdistan Region remains outside the circle of economic recovery,
despite all the positive changes in the currency exchange rate.
 
Hussein told Baghdad Today, "Despite the decline in the dollar exchange rate and the recovery of the Iraqi dinar,  the markets in the Kurdistan Region have yet to benefit from this decline   and are still suffering from stagnation."

 He added,  "The region's problem lies in the lack of financial liquidity.
 
Citizens do not have dollars or dinars due to the non-payment of salaries, the scarcity of job opportunities, the high unemployment rate, and the weakness of banking transactions.
 
All of these factors lead to a lack of financial liquidity."
 
Variation in the Iraqi economic scene
 
For months, Iraq has witnessed a significant improvement in the value of the dinar against the dollar,
as a result of a series of government and banking measures aimed at  regulating the market and   controlling the flow of foreign currencies.
 
This has had a positive impact on  purchasing power in a number of governorates and has contributed to a  relative easing of economic pressures on Iraqi citizens.

However, this improvement was not comprehensive, as the Kurdistan Region remained in a state of marked economic recession,  despite the decline in the dollar's value.
 
The structural problems plaguing the region, most notably the crisis of delayed salaries, high unemployment rates, and  weak liquidity in the markets, prevented any real recovery that could be felt by citizens.    https://baghdadtoday.news/275159-.html

Sudan's Financial Advisor: Cooperative Hypermarkets Reduced Demand For The Parallel Dollar And Prevented A Rise In Inflation.
 
May 29, 2025  Baghdad/Iraq Observer  The Prime Minister's financial advisor, Mazhar Saleh, confirmed that the  hypermarket policy has effectively contributed to reducing demand for dollars on the parallel market,  which has had a positive impact on price stability.  

In a press statement, he explained that this policy helped prevent inflation rates from rising, keeping them within the 3% range, noting that the measures implemented have boosted market confidence.

He added that the  proliferation of hypermarkets has encouraged merchants to shift toward importing through official dollars instead of parallel currencies,  which has contributed to  regulating market activity and  financing foreign trade in a legal and stable manner.  https://observeriraq.net/المستشار-المالي-للسوداني-هايبر-ماركت/  

Association Of Private Banks: Most Of Our Banks Have Adhered To Transparency And Compliance Standards And Followed National And International Regulations.
 
Wednesday, May 28, 2025 | Economic  Number of readings: 168  Baghdad / NINA / The Iraqi Private Banks Association confirmed the ability of Iraqi banks to overcome this stage and return confidently to the global economic system.
 
"Our second conference is of exceptional importance in light of the escalating challenges facing Arab banks, particularly Iraqi banks, amid a complex economic and security environment that directly impacts our relations with the global financial system," said Wadih Al-Handhal, head of the Association of Private Banks, during the opening of the second session of the  Anti-Money Laundering and Combating the Financing of Terrorism Conference in Baghdad. 

He added, "Despite the recent measures imposed on some Iraqi banks, we affirm that these decisions do not reflect the reality of the sector.
 
The majority of banks have  demonstrated a high commitment to transparency and compliance standards and have followed approved national and international regulations.
 
Despite the challenges, they continue to play their role in   supporting the national economy and  enhancing financial stability." 

 He explained:  "These measures have  had a negative impact on the image of the Iraqi banking system as a whole and have  diminished the confidence of international partners,  even among institutions that are leaders in compliance and governance."

Al-Handhal stressed that "the Iraqi banking sector is witnessing major transformations, and the  Central Bank of Iraq, with direct government support, is currently implementing an ambitious reform plan aimed at   enhancing international confidence and  raising the sector's efficiency,
 
particularly in the areas of compliance and combating money laundering."  He continued,
 
"During the conference, we will discuss research papers and specialized opinions that seek to overcome challenges and consolidate compliance rules.
 
The conference topics include the challenges of opening accounts with correspondent banks, enhancing cooperation between Arab banks, the role of technology and artificial intelligence in  supporting compliance, local and international legislation, and the role of central banks in consolidating sustainable compliance." /End 5   https://ninanews.com/Website/News/Details?key=1229496  

Parliamentary Finance: We Support Efforts To Develop The Iraqi Banking Sector And Are Following Up On The Required Legislation.
 
Wednesday, May 28, 2025 | Economic     Number of readings: 296  Baghdad / NINA / The Parliamentary Finance Committee affirmed its full support for efforts aimed at developing the Iraqi banking sector and its keenness to follow up on the legislation required to enhance Iraq's compliance with international standards. It also stressed the need to balance strict compliance with achieving economic growth goals,  supporting the private sector, and  facilitating investment.
 
“International regulatory obligations imposed on financial institutions,
particularly those related to combating money laundering and terrorist financing,
 
have become among the most prominent requirements that affect the nature of the relationship between local banks and their global counterparts,” 

said committee chairman MP Atwan Al-Atwani during the Anti-Money Laundering and Combating the Financing of Terrorism conference, which kicked off Wednesday in Baghdad.
 
“Fulfilling these requirements is a prerequisite for developing a safe and stable banking environment
capable of interacting positively with the global financial system.”

He added, "Iraq's engagement, represented by its national banks, in this international regulatory environment is not an option,  but rather a national necessity  to protect the financial system from cross-border risks and to ensure the continued flow of investments and capital, which directly contributes to supporting economic and social development efforts and enhancing confidence in the national economy."

 He continued,  "Iraq has made significant progress on this path over the past few years, as the Iraqi banking system has witnessed major developments,
 
represented by the modernization of the legal and regulatory structure, the
issuance of instructions related to compliance and tightening oversight, and
work to build qualified banking cadres capable of dealing with these changes."
 
“We have seen the Central Bank of Iraq’s keenness to  adopt a reform and development approach, by imposing precise and updated instructions in line with international best practices, as well as its relentless efforts to enhance transparency and strengthen the system for combating money laundering and terrorist financing,” he added, noting
 
the importance of this conference, which constitutes an important platform for exchanging experiences and  reviewing the latest developments in international legislation, and highlighting the experiences of other countries in this field, especially with regard to  modern compliance techniques,  best methods of internal control, and    risk management.    https://ninanews.com/Website/News/Details?key=1229562  

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

Vietnam News Posted by Henig at KTFA 5-29-2025

KTFA:

Henig:  New Zealand, Việt Nam expand timber trade partnership

Wednesday, May 28, 2025 14:15 HÀ NỘI —

New Zealand Forestry and Trade Minister Todd McClay on Tuesday unveiled a new bilateral agreement with Vietnam designed to boost timber exports and remove potential trade barriers in the forestry sector between the two nations.

Under the agreement, New Zealand’s radiata pine will be recognised under Việt Nam’s evolving timber construction standards, paving the way for increased market access in the rapidly developing Vietnamese market.

Minister McClay highlighted that the pact is expected to drive growth in the NZ$2.68 billion (US$1.59 billion) bilateral trade and expand the NZ$ 48 million worth of sawn timber New Zealand currently ships to Việt Nam.

He emphasised Việt Nam’s strong economic trajectory, noting that its economy has doubled over the past decade and is poised to lead global income growth.

This trend is expected to spur construction activity and demand for sustainable building materials, creating further opportunities for New Zealand’s wood sector.

The agreement is set to add value to New Zealand’s timber products and offer opportunities in addition to exporting logs. It boosts the country's export potential and helps double its exports by value in 10 years. — VNS

https://bizhub.vn/new-zealand-viet-nam-expand-timber-trade-partnership-post376566.html

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Henig:  PM Chính proposes financial centre connectivity among ASEAN, Gulf nations and China

May 27, 2025 - 18:17 PM

Phạm Minh Chính welcomed the fact that the world’s three leading economic engines — ASEAN, the GCC and China — are engaging in dialogue, strengthening coordination and opening up a historic opportunity to build a new inter-regional strategic cooperation space for a prosperous, inclusive and sustainable future for all countries.

 HÀ NỘI — Prime Minister Phạm Minh Chính proposed enhancing financial centre connectivity among ASEAN countries, the Gulf Cooperation Council (GCC) and China at the ASEAN-GCC-China Summit in Kuala Lumpur on Tuesday.

He suggested establishing a robust financial connectivity network linking major regional centres such as HCM City, Kuala Lumpur, Singapore, Bangkok, Shanghai, Dubai and Riyadh, creating a seamless inter-regional financial ecosystem that could serve as a launchpad for breakthrough cooperation between ASEAN, the GCC and China.

 At the summit, themed 'Synergising Economic Opportunities Towards Shared Prosperity', PM Chính welcomed the fact that the world’s three leading economic engines — ASEAN, the GCC and China — are engaging in dialogue, strengthening coordination and opening up a historic opportunity to build a new inter-regional strategic cooperation space for a prosperous, inclusive and sustainable future for all countries.

He highlighted the need to focus on cooperation in trade, investment and supply chain connectivity and to avoid politicising science and technology, investment and development.

He proposed effectively leveraging existing frameworks such as the ASEAN-China Free Trade Agreement, promoting the signing of the ASEAN-GCC Free Trade Agreement and studying the possibility of developing inter-regional connectivity into a comprehensive trilateral economic cooperation mechanism, including the potential formation of an ASEAN-GCC-China Free Trade Agreement.

The Vietnamese leader called for high priority to be given to strategic and breakthrough sectors. With ASEAN finalising its Digital Economy Framework Agreement, he stressed that this was a “golden moment” to build a connected, secure and sustainable digital space.

Reaffirming that capital flow is the lifeblood of strong, continuous and sustainable economic development, the PM expressed his belief that these directions would lay the foundation for strong development in other fields such as tourism, cultural exchange and connections among the civilisations of the three regions, setting a solid groundwork for deep, comprehensive and long-term cooperation among ASEAN, the GCC and China.

He affirmed that Việt Nam was committed to continuing its role as a reliable bridge and a responsible partner, and was ready to accompany and contribute to peace, stability and shared prosperity for all the peoples and nations of ASEAN, the GCC and China.

Leaders of the participating countries expressed confidence that ASEAN, the GCC and China could leverage the strengths of the three economies with a combined GDP of US$24.87 trillion and a population of approximately 2.15 billion.

 The countries reaffirmed their commitment to promoting trade, investment, finance, supply chain connectivity and market access for ASEAN, GCC and China. They also emphasised advancing cooperation in emerging fields such as digital technology, artificial intelligence and renewable energy as well as enhancing cultural exchanges, educational collaboration and tourism development.

The nations also pledged to kick off new initiatives to foster mutual understanding and people-to-people connectivity across regions. During the conference, time was also allocated to discuss international and regional issues.

Participants shared concerns about the complex developments in the Gaza Strip, reaffirmed support for the peace process and the establishment of an independent Palestinian state under the two-state solution in accordance with international law and relevant United Nations Security Council resolutions.

 https://vietnamnews.vn/politics-laws/1718457/pm-chinh-proposes-financial-centre-connectivity-among-asean-gulf-nations-and-china.html

Seeds of Wisdom RV and Economic Updates Thursday Morning 5-29-25

Good Morning Dinar Recaps,

U.S. Department of Labor Reverses 2022 Guidance That Blocked Digital Assets From 401(k) Plans

The U.S. Department of Labor (DOL) is scrapping a mandate in its 2022 guidance that prevented digital assets from being included in 401(k) retirement plans.

In a new press release, the DOL says it’s rolling back its 2022 compliance release, which previously instructed institutions to forgo using crypto assets as options for 401(k) plans.

In 2022, the DOL warned fiduciaries to use "extreme care" before offering digital assets as options for retirement plans, language that was considered unusual at the time as the agency historically has taken a neutral approach toward the subject, according to the press release.

According to U.S. Secretary of Labor Lori Chavez-DeRemer, the DOL is rolling back the government overreach created by the Biden Administration.

Says Chavez-DeRemer,

"The Biden administration’s department of labor made a choice to put their thumb on the scale. We’re rolling back this overreach and making it clear that investment decisions should be made by fiduciaries, not D.C. bureaucrats."

The DOL says it’s neither endorsing nor disapproving of employers who choose to include crypto assets and notes that its reasoning extends to other crypto-related products, such as derivatives.

Previously, the DOL said it had "serious concerns" about people’s retirement funds being tied up in crypto due to "significant risks of fraud, theft, and loss."

@ Newshounds News™
Source:  DailyHodl

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Russia Allows Banks to Offer Crypto Products to Accredited Investors

Russian banks have started rolling out crypto investment products tied to the price of Bitcoin following a greenlight from the central bank.

The Bank of Russia has permitted financial institutions to offer certain cryptocurrency-based financial instruments to accredited investors.

Russian banks are now free to provide qualified investors with a range of crypto products, including crypto derivatives, securities, and other digital financial assets tied to crypto prices, the central bank announced on May 28.

A key stipulation, however, is that these products must not involve the "actual delivery of cryptocurrencies," the Bank of Russia emphasized.

The announcement came alongside the Bank of Russia reporting a 51% increase in crypto asset inflows by Russian residents in the first quarter of 2025, totaling 7.3 trillion rubles ($81.5 billion).

T-Bank Among the First to Offer Bitcoin Investment Products

Some major Russian banks started rolling out cryptocurrency investment products immediately following the Bank of Russia’s announcement.

T-Bank (formerly Tinkoff Bank), one of the largest commercial banks in Russia, announced on May 29 the offering of digital financial assets (DFA) tied to Bitcoin.

“The tool allows you to invest in cryptocurrency in rubles through a familiar application — safely and within the legal framework of the Russian Federation, without opening an account on a crypto exchange and difficulties with protecting your wallet,” the bank said.

T-Bank’s new “smart asset” offering is issued through the Russian state-backed tokenization platform Atomyze and is available exclusively to accredited investors.

Direct Crypto Investments Still Not Encouraged

While greenlighting local lenders to offer crypto products, the Russian central bank still maintains a restrictive approach regarding direct cryptocurrency investment.

“The Bank of Russia still does not recommend financial institutions and their clients to invest directly in cryptocurrencies,” the Bank of Russia said in a statement.

The central bank also noted the ongoing government discussions on the potential launch of an experimental regime that would allow certain investors to trade crypto assets like Bitcoin directly.

Russia’s Estimated CEX Holdings Are at $9.2 Billion

In its latest financial stability review, the Bank of Russia estimated Russians’ crypto holdings on centralized exchanges (CEXs) at 827 billion rubles ($9.2 billion).

According to the authority, Bitcoin is leading Russians’ CEX holdings with a 62% share, with Ether (ETH) following at 22%. Stablecoins like Tether (USDT) and Circle’s USDC ranked third with a share of 15.9%.

Some local crypto enthusiasts observed that the actual figure of cryptocurrency held by Russians is significantly bigger than the estimated CEX holdings reported by the Bank of Russia.

“I know that [Pavel] Durov and [Alexey] Bilyuchenko alone have more money in their wallets than this amount,” Sergey Mendeleev, founder of the digital settlement exchange Exved, wrote on his Telegram channel. He hinted that Russians hold much bigger crypto amounts in wallets and decentralized exchanges.

@ Newshounds News™
Source:  Cointelegraph

~~~~~~~~~

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“Tidbits From TNT” Thursday Morning 5-29-2025

TNT:

Tishwash:  American company Starlink confirms its readiness to operate in Iraq: We will contribute to the digital transformation.

American company SpaceX "Starlink" confirmed on Wednesday its readiness to operate in Iraq and contribute to the digital transformation and its applications for public and private sector institutions.

The Prime Minister's Office stated in a statement received by ( IQ ), "Prime Minister Mohammed Shia Al-Sudani received, today, Wednesday, a delegation from SpaceX (Starlink), an American company specializing in network, information and communications technology. During the meeting, aspects of cooperation in the field of communications and services provided by the company, and its coverage areas, were reviewed."

During the meeting, Al-Sudani emphasized that "Iraq today boasts many promising investment opportunities, given the rapid growth and urban and service expansion it is witnessing," noting "the importance of the strategic relationship with the United States within the framework agreement and other bilateral memoranda of understanding, which extend to various economic, scientific, and developmental fields."

Al-Sudani directed the relevant authorities to "study ways to facilitate SpaceX (Starlink)'s work and expedite the necessary measures," expressing his welcome for major technology companies, particularly American ones, to operate in Iraq and the possibility of their cooperation with the Iraqi private sector, within the government's vision for digital transformation measures.

For its part, the company's delegation affirmed its readiness to operate in Iraq, provide services, and cooperate in the Iraqi market. It explained that Starlink's services will contribute to digital transformation and its applications for public and private sector institutions, develop communications, and achieve economic prosperity within the framework of bilateral cooperation between Iraq and the United States   link

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Tishwash:  Will international agencies raise Iraq's credit rating soon?

 British report points to Baghdad's financial and administrative reforms as possible reasons for the expected move.

The report indicates a significant improvement in the level of financial transparency through the issuance of annual public reports on public revenues and expenditures,

Iraq is moving toward a new economic phase aimed at improving its credit rating with international institutions through a series of financial and administrative reforms and a significant increase in foreign direct investment.

A new report issued by the London-based Global Center for Development Studies finds that the Iraqi government , led by Prime Minister Mohammed Shia al-Sudani, succeeded in attracting foreign investment exceeding $87 billion in 2024, with expectations of this amount rising to between $120 and $150 billion by 2029, in vital sectors including energy, petrochemicals, agriculture, and religious tourism.

Reforms to boost international confidence

The British report identified clear trends in Iraqi economic policy aimed at diversifying sources of income away from oil, strengthening financial governance, combating corruption, and increasing the independence of the Central Bank and improving monetary policy management. This has been reflected in declining inflation rates and a stable dinar exchange rate.

Iraq faces significant economic challenges due to fluctuating oil prices, rising spending, a worsening fiscal deficit, and exchange rate instability.

he report points to significant improvements in financial transparency through the issuance of public annual reports on public revenues and expenditures, and the updating of more than 200 laws over two years, enhancing the business climate and limiting the penetration of corruption networks into the state's institutions.

Cooperation with international institutions

According to the report, Iraq is in the process of signing consulting agreements with two international companies. One will provide technical support to the Commercial Bank of Iraq in compliance with international financial standards, while the other will manage a public relations campaign aimed at improving Iraq's economic image and enhancing its chances of obtaining a better credit rating from international rating agencies such as Standard & Poor's, Moody's, and Fitch.

The report indicated that Iraq's agricultural sector recorded a growth of approximately 15 percent in wheat production over the past three years, while the petrochemical sector achieved a rise of approximately 10 percent in 2023. Religious tourism, meanwhile, recorded a significant increase in exports, with the number of foreign visitors exceeding 20 percent, making it a promising sector for diversifying national income sources.

Although Iraq's rating remains at a low level of B- by Standard & Poor's and Fitch, and Caa1 by Moody's, its high foreign exchange reserves, ongoing reforms, and improved transparency indicators are all positive factors that could contribute to a rating upgrade in the near future, according to the report. link

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Tishwash:  Al-Sudani: Iraq has returned to leading the Arab world, and we held meetings between Iran and three Arab countries.

Prime Minister Mohammed Shia al-Sudani said that his government held dialogue sessions between Iran and three Arab countries, stressing that the new Iraq will not accept being subservient to anyone.

In an interview with the Egyptian newspaper Al-Ahram, followed by Mail, Al-Sudani said, "We preferred to be a bridge for dialogue, not an arena for settling scores." He explained, "We held meetings between Saudi Arabia, Iran, Jordan, Tehran, Egypt, and Iran."

He added, "We remember Iran for standing with us in the 2014 war against ISIS," noting that "what distinguishes Iraqis is their pride in their country, self-respect, and dignity, which do not allow them to be a prisoner or subservient to anyone."

He continued, "We only want Syria to implement the agreements, maintain a unified and stable Syria, and confront terrorism." He emphasized, "We have closed the gaps through which Iraq's enemies were infiltrating, and we have succeeded in achieving accomplishments on the ground that have restored confidence to the citizen."

He pointed out that "corruption was widespread, and efforts are being made to achieve progress, and citizens feel confident," explaining that "the government's performance has sparked interest among young people and new generations in the importance of participating in the elections."

He continued, "We not only completed the infrastructure, and our efforts were not limited to construction and reconstruction alone, but we also built an information infrastructure," noting that "Iraq has resumed its role in leading the Arab world."

He stated that "the new Iraq does not accept being subservient to anyone," stressing that "Iraq is strong and stable  link

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Mot: Marital Advice

Mot:  . Seeeee -- Again da Internet - Gives US Wisdom!! 

MilitiaMan and Crew: Iraq Dinar Update-Combating Money Laundering- Conference-Revaluation-Critical Component-Commitment

MilitiaMan and Crew:  Iraq Dinar Update-Combating Money Laundering- Conference-Revaluation-Critical Component-Commitment

5-28-2025

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=Yj6IUscn2hs

Iraq Economic News And Points To Ponder Wednesday Afternoon 5-28-25

Union Of Arab Banks: We Support Iraqi Banking Institutions Within International Laws

Wednesday, May 28, 2025, | Economic Number of reads: 251  Baghdad / NINA / The Union of Arab Banks affirmed that supporting Iraqi banking institutions is a top priority through developing strategies or facilitating dialogue with international partners, within the framework of applicable international laws and regulations.

Secretary General of the Union of Arab Banks, Wissam Fattouh, said during the Anti-Money Laundering and Combating the Financing of Terrorism Conference, which kicked off today, Wednesday, in the capital, Baghdad, "Combating money laundering and terrorist financing has become, in recent years, a top priority, along with combating corruption, at the heart of the global agenda and has become one of the main indicators of the credibility of financial institutions and their countries before the international community and international banks."

He added, "The Arab region faces complex challenges, some of which result from political and security tensions, and some of which are related to the regulatory and technical level in a number of banking sectors. Matters are further complicated by the strict and inflexible application of digital standards by international bodies towards banks, regardless of the specificities or circumstances of some countries."

Fattouh stressed that "the battle for compliance is not just a technical issue, but rather a sovereign, institutional, and economic issue all at once, because failure to comply threatens our relationship with international banks, limits our ability to carry out transfers, imports, and exports, and directly impacts investment flows, aid, and trade cooperation."

 He pointed to the urgent need for joint Arab action, particularly strengthening ties of joint cooperation between Iraqi banks operating in a complex political and economic environment, and the Union of Arab Banks.

He emphasized the importance of strategic partnerships to develop Iraqi banking and raise Iraq's voice in international forums, when we are ready to do so.

Fattouh emphasized the importance of working to integrate financial technology into internal control systems, including the use of artificial intelligence in compliance and risk assessment, noting the need to instill a culture of compliance at all levels, from board members to front-line employees.

He added, "The challenges we face today are a call for cooperation, reprioritization, and continuous work on banking reform."  https://ninanews.com/Website/News/Details?key=1229559

Chairman Of The Finance Committee: The Integration Of Iraqi Banks Into The International System Is A National Necessity.

Banks  Economy News – Baghdad  Parliamentary Finance Committee Chairman Atwan Al-Atwani stressed on Wednesday that compliance with international standards and banks' integration into the international system is a national necessity to protect the financial system and a prerequisite for developing the banking environment.

During his speech at the second session of the Anti-Money Laundering and Combating the Financing of Terrorism Conference, which was attended by Al-Eqtisad News, Al-Atwani said, "At the outset, I would like to express my welcome to the convening of this distinguished conference, which comes at a very important time, given the fundamental transformations and increasing challenges that the financial and banking sector is witnessing at the local, regional and international levels.

These challenges require the highest levels of coordination and cooperation from all of us, legislative, executive and oversight institutions.

" He added, "International regulatory obligations imposed on financial institutions, particularly those related to combating money laundering and terrorist financing, have become among the most prominent requirements that affect the nature of the relationship between local banks and their global counterparts.

Meeting these requirements is a prerequisite for developing a safe and stable banking environment capable of interacting positively with the global financial system."

He continued, "Iraq's engagement, represented by its national banks, in this international regulatory environment is not an option, but rather a national necessity to protect the financial system from cross-border risks and to ensure the continued flow of investments and capital, which directly contributes to supporting economic and social development efforts and enhancing confidence in the national economy."

In his speech, Al-Atwani noted, "Iraq has made significant strides in this direction over the past few years. The Iraqi banking system has witnessed major developments, including the modernization of the legal and regulatory structure, the issuance of compliance instructions, tightening oversight, and the development of qualified banking cadres capable of dealing with these changes."

He added, "We have witnessed the Central Bank of Iraq's commitment to adopting an approach to reform and development by imposing precise and updated instructions in line with international best practices, in addition to its relentless pursuit of enhancing transparency and strengthening the system for combating money laundering and terrorist financing."

He continued, "Despite these commendable efforts, challenges remain, especially in light of growing regulatory complexities and the increasing requirements of correspondent banks, along with their precise and changing conditions.

Here, the need for the concerted efforts of all stakeholders, from banks, regulatory, legislative, and security bodies, to confront these challenges with high responsibility and professionalism is growing."

He noted in his remarks, "Hence the importance of this conference, which constitutes an important platform for exchanging expertise, reviewing the latest developments in international legislation, and highlighting the experiences of other countries in this field, particularly with regard to modern compliance techniques, best practices in internal control, and risk management."

He added, "We also affirm, from our position in the Parliamentary Finance Committee, our full support for all efforts aimed at developing the Iraqi banking sector, and our keenness to follow up on the legislation required to enhance Iraq's compliance with international standards, while emphasizing the need to balance strict compliance with achieving economic growth goals, supporting the private sector, and facilitating investment."   https://economy-news.net/content.php?id=55942

Despite Global Increases, Basra Heavy And Medium Crude Prices Decline.

economy | 09:46 - 05/28/2025  Mawazine News - Baghdad -  Basra Heavy and Basra Medium crude prices fell on Wednesday, despite the rise in global oil markets.

Basra Heavy crude prices fell 40 cents, or 65%, to $61.60, while Basra Medium crude prices fell 40 cents, or 62%, to $64.10.

Oil prices rose after the United States banned Chevron from exporting crude from Venezuela under a new license, increasing the possibility of supply shortages. Brent crude rose to $64.56 a barrel, and US West Texas Intermediate crude also rose to $61.38 a barrel. https://www.mawazin.net/Details.aspx?jimare=261976

Gold Prices Rise Globally

Economy | 10:20 - 05/28/2025  Mawazine News - Follow-up  Gold prices rose on Wednesday as investors bought, but easing trade tensions between the United States and the European Union limited gains, while the market awaited the US core personal consumption expenditures report for clues on interest rates.

Spot gold rose 0.3% to $3,308.99 an ounce, recovering slightly from a 1% decline in the previous session, according to Reuters.  US gold futures rose 0.2% to $3,308.30.

US President Donald Trump backed down from his threat to impose 50% tariffs on the European Union, postponing their implementation until July 9 to allow time for negotiations between the White House and the 27-nation bloc.   https://www.mawazin.net/Details.aspx?jimare=261978

Again... The Dollar Price Drops In Baghdad.

Economy | 05/28/2025  Mawazine News – Baghdad  - The dollar exchange rate against the dinar declined in Baghdad with the closing of the stock exchange.  The selling price reached 140,000 dinars for $100, while the buying price was 142,000 dinars for $100. https://www.mawazin.net/Details.aspx?jimare=261989

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