Seeds of Wisdom RV and Economic Updates Tuesday Morning 5-13-25

Good Morning Dinar Recaps,

ARIZONA GOVERNOR KILLS TWO CRYPTO BILLS, CRACKS DOWN ON BITCOIN ATMS

• Governor Katie Hobbs vetoed two major pro-crypto bills:

• Senate Bill 1373, which proposed a Digital Assets Strategic Reserve Fund, and

• Senate Bill 1025, the Arizona Strategic Bitcoin Reserve Act that would have allowed up to 10% of state treasury and retirement funds to be invested in Bitcoin.

• She also rejected Senate Bill 1024, which would have allowed state agencies to accept crypto payments for taxes and fees.

Hobbs cited “volatility in cryptocurrency markets” as a core reason for vetoing, stating the proposals posed too much financial risk for public funds.

• However, she approved House Bill 2387, which imposes strict consumer protections on Bitcoin ATMs:

• Requires multilingual scam warnings and acknowledgment from users before transactions.

• Caps daily transactions at $2,000 for new users and $10,500 for returning users after 10 days.

• Mandates detailed receipts, visible 24/7 customer support info, and a 30-day refund policy for fraud victims.

• Additionally, Hobbs signed House Bill 2749, modernizing unclaimed property laws to let Arizona hold unclaimed crypto in its original form rather than converting to fiat.

@ Newshounds News™
Source:  CoinTelegraph

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BRICS: US & CHINA AGREE TO TARIFF PAUSE, BUT WHO’S NEXT?

• The US and China have agreed to a 90-day tariff pause, signaling a potential thaw in tensions and offering hope for a broader trade deal.

• President Trump called it a “total reset” in relations, easing fears of an imminent trade war between the world’s two largest economies.

• China’s role in BRICS remains pivotal, and the agreement has sparked speculation about which BRICS nation may secure relief next.

• India has already finalized trade terms with the US, while Brazil still faces a 10% tariff, and South Africa’s has been lowered from 30% to 10%.

• Russia was never included in the initial US tariff plan, giving the BRICS alliance some strategic leverage.

• The European Union (EU) may be next on the negotiation list, though Trump called the EU “nastier than China” in recent comments.

• BRICS' united trade front is believed to be effective, with growing optimism that tariff relief deals for other members are coming soon.

• The 2025 BRICS summit could expand the alliance, increasing its global influence during ongoing trade negotiations.

@ Newshounds News™
Source:  Watcher Guru

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“Tidbits From TNT” Tuesday Morning 5-13-2025

TNT:

Tishwash:  Al-Sudani inspects the "Heart of the World" hotel in preparation for receiving delegations participating in the Arab Summit.

Prime Minister Mohammed Shia al-Sudani reviewed preparations for receiving delegations participating in the Arab Summit on Sunday.

The Prime Minister's media office said in a statement received by the Iraq Observer, "Prime Minister Mohammed Shia al-Sudani visited the Heart of the World Hotel in the capital, Baghdad, today, Sunday, which is one of the hotels that will host the delegations participating in the Arab Summit in Baghdad."

The statement added, "During a tour of the hotel, which is one of the most prominent modern hotel projects in the capital, Baghdad, Al-Sudani viewed its halls, corridors, and tourist facilities, as well as the distinctive equipment and services it includes that are worthy of Iraq's guests."

He continued, "He also toured the press center dedicated to the Arab Summit to review the preparations for the work of journalists and media personnel at this center, which will constitute an integrated media platform for covering the Arab Summit."  link

Tishwash:  Economists: The Arab Summit is an opportunity to activate partnerships and investments.

The Arab economic arena is witnessing increasing momentum ahead of the Arab Summit in Baghdad, with economic experts and specialists unanimously agreeing that this event could mark the beginning of a new phase of joint Arab economic action, based on investing in the wealth and potential of Arab countries and redrawing the map of cooperation in light of regional and international changes. This vision comes within the context of a widespread belief that Baghdad now possesses the elements of stability and readiness to host major strategic projects that will benefit all Arab economies.

New prospects for cooperation

Economic expert Haider Karim al-Gharawi told Al-Sabah that holding the summit in Baghdad opens new horizons for cooperation between Iraq and its Arab brethren, given the common elements upon which fruitful economic partnerships can be built. 

He explained that the presence of Arab leaders or their representatives in Baghdad and their direct exposure to the Iraqi reality could create new visions and strengthen the conviction that Iraq possesses an attractive work environment capable of accommodating bilateral partnership projects that achieve benefits for all parties. In various sectors. 

Al-Gharawi added that the summit represents a rare opportunity to present Iraq's development plans directly to delegations without the need for intermediaries, which will help accelerate agreements and reach practical and effective cooperation formulas.

He considered that the mere fact that the summit is being held in Baghdad sends a reassuring message to the world that Iraq has returned to the path of stability and economic openness. He also spoke about the possibility of creating common economic interests with major international companies that can leverage their expertise to support Arab-style production projects, making the summit a starting point for a formula for Arab industrial and production integration capable of competing in the global market.

The Summit and the Road to Development

For his part, economic expert Dr. Nabil Al-Marsoumi explained that the summit represents an opportunity to enhance economic cooperation between Iraq and Arab countries, particularly neighboring countries. He pointed out that Iraq has active economic relations with its regional surroundings, including the electrical connection with Jordan, which is close to completion, in addition to economic relations with Saudi Arabia and Kuwait, which can be activated through comprehensive economic agreements.

 He emphasized that the summit could contribute to reviving agreements related to the "Development Road" project, which is one of the largest strategic projects that serves not only Iraq, but also extends its benefits to other Arab countries, especially the UAE and Qatar, as it provides a potential corridor for Qatari gas to Europe. It is also a gateway to strengthening economic relations, diversifying trade exchange, and pursuing joint projects in the energy, contracting, and housing sectors, areas that usually constitute a key focus of major economic conferences, thus enhancing opportunities for sustainable development and Arab integration.

 Iraq in the regional equation

Economic researcher Suhad Al-Shammari considered the holding of the Arab Summit in Baghdad a pivotal event at various levels, noting in her interview with Al-Sabah that the meeting of Arab leaders, kings and presidents in the Iraqi capital reflects the extent of Arab interest in Iraq's role and position in the new regional equation.

She explained that discussing issues that have a direct impact on the region through the Baghdad Summit carries a clear message that Iraq has become secure and has a virgin economy that can accommodate the most important investment projects, which means that countries are now dealing with Iraq from a new economic perspective that charts the compass of political cooperation based on common interest.

Al-Shammari indicated that the summit carries indications of Iraq's return to playing an influential geopolitical role in the region, and opens the horizon for bringing viewpoints closer between Arab countries. It also reflects the qualitative shift that Iraq has witnessed in terms of reconstruction and development, noting that the "Development Road" project represents an important economic gateway and is on its way to completion within the specified timeframe, at a time when Baghdad has regained its luster as a vibrant capital witnessing a major development movement, which enhances Iraq's position as a key player in the economic and  And the Arab politician.

The summit and the elements of success

These intersecting visions reflect a firm belief among experts that the Baghdad Summit possesses all the ingredients for economic success, making it a strategic platform for launching comprehensive Arab initiatives based on integration in the fields of energy, transportation, and infrastructure. These initiatives contribute to building an Arab economic system capable of confronting challenges and exploiting available opportunities, within a path of sustainable cooperation that the region has always embraced. Much needed.  link

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Tishwash:  The Prime Minister appreciates the International Monetary Fund's efforts in supporting Iraq and its financial and monetary institutions.

Prime Minister Mohammed Shia Al-Sudani praised the efforts of the International Monetary Fund in supporting Iraq and its financial and monetary institutions.

His media office said in a statement, "Prime Minister Mohammed Shia Al-Sudani received today, Monday, the head of the International Monetary Fund mission to Iraq, Jean-Guillaume Poulin, and the Fund's Resident Representative in Iraq, Mohammed Jaber.

Al-Sudani appreciated the efforts of the International Monetary Fund in supporting Iraq and its financial and monetary institutions, which would restore their vital role at the local and international levels, especially since the Fund is a key partner in Iraq's efforts to reform the economy and enhance its stability, stressing that the achievements made by the government in the financial, banking and economic fields represent positive steps towards achieving stability and sustainable development in the country.

Al-Sudani pointed out "the importance of continued support from international partners for the government in intensifying efforts to mitigate the impact of the challenges facing the region, which would facilitate the implementation of steps aimed at diversifying and sustaining the economy, through the investment environment it has provided that has attracted major development projects.

For his part, Polan praised the significant progress made by the Iraqi government in the field of economic reform, through the development of the tax and customs system, expressing the International Monetary Fund's readiness to increase coordination and joint work, and to provide the necessary advice in areas of enhancing non-oil revenues.   link

Mot:  Come on ""Earl"" -- LOL

MilitiaMan & Crew: Iraqi Dinar News Update-Iran Removing Zeros-Green Light-Economic Reality-Trade-IMF-WB-BIS-UST-Timing

MilitiaMan & Crew: Iraqi Dinar News Update-Iran Removing Zeros-Green Light-Economic Reality-Trade-IMF-WB-BIS-UST-Timing

5-12-2025

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=T9Ze-8P_OhU

Iraq Economic News And Points To Ponder Monday Evening 5-12-25

Prime Minister: The International Monetary Fund Is A Key Partner In Strengthening Iraq's Economy And Stabilizing It

Economy | 08:46 - 12/05/2025   Mawazine News - Baghdad -  Prime Minister Mohammed Shia Al-Sudani received on Monday the Head of the International Monetary Fund (IMF) Mission to Iraq, Jean-Guillaume Poulin, and the Fund's Resident Representative in Iraq, Mohammed Jaber.

According to a statement from his media office received by Mawazine News, Al-Sudani praised the IMF's efforts in supporting Iraq and its financial and monetary institutions, thus restoring their vital role at the local and international levels, especially since the Fund is a key partner in Iraq's efforts to reform the economy and enhance its stability.

He stressed that the government's achievements in the financial, banking and economic fields represent positive steps towards achieving stability and sustainable development in the country.

He pointed out the importance of continued support from international partners for the government in intensifying efforts to mitigate the impact of the challenges facing the region, thus facilitating the implementation of steps aimed at diversifying and sustaining the economy, through the investment environment it has provided that has attracted major development projects.

For his part, Polan praised the "significant progress made by the Iraqi government in economic reform, through the development of the tax and customs systems."

He expressed the IMF's readiness to increase coordination and joint action, and to provide the necessary advice on enhancing non-oil revenues.   https://www.mawazin.net/Details.aspx?jimare=261358

Rafidain Bank: The "Riyada" Initiative Is A Development Tool For Transforming The Iraqi Economy.

A wish | 09:25 - 12/05/2025   Mawazine News - Baghdad -  Rafidain Bank confirmed on Monday that the Riyada initiative represented a development tool for changing the structure of the Iraqi economy and transformed young people from job seekers to opportunity creators.

While noting that the first phase of the initiative financed more than 8,000 small projects, he noted that the second phase will finance more than 10,000 new projects.

Rafidain Bank Director Ali Karim Al-Fatlawi said in a statement to the official agency, followed by Mawazine News, that "the Riyada initiative launched by the bank represents a qualitative shift in the role of banking institutions," indicating that "it is no longer limited to providing financing, but has become a development tool for changing the structure of the Iraqi economy and empowering youth."

He added, "The initiative is not merely financing small projects, but rather a new economic future written by the youth of Iraq," noting that "the state is no longer the largest employer alone, but has become an enabler and motivator of the private sector, especially graduates and entrepreneurs."

He continued, "The first phase of the initiative resulted in financing more than 8,000 small projects, each of which provided between two and five direct job opportunities, reflecting a real shift in the role of youth from job seekers to opportunity creators.

" He noted that "the bank has allocated sufficient resources for the second phase and is preparing to finance more than 10,000 new projects in cooperation with relevant authorities."

He stated that "Rafidain Bank is today adopting an integrated development role, not just a traditional banking role," explaining that "financing has become a means to build small production units that support the market and break the cycle of unemployment."

He pointed out that "the most prominent challenges facing the implementation of the initiative are the need for institutional integration," calling on the Central Bank and all national institutions to "actively engage in supporting the Riyada initiative by allocating concessionary financing windows, launching a national fund to guarantee loans for entrepreneurs, and integrating the initiative into the upcoming financial inclusion strategy."    https://www.mawazin.net/Details.aspx?jimare=261361

A Delegation Of 46 Iraqi Businessmen Participates In The US Investment Summit To Enhance Economic Cooperation

The US Embassy in Baghdad announced on Sunday that a delegation of 46 business leaders from across Iraq, including the Kurdistan Region, will travel to the United States to participate in the annual SelectUSA Investment Summit, scheduled to be held in Washington, D.C., from May 11 to 14.

The embassy explained in a statement that the delegation represents a wide range of economic sectors, including technology, cybersecurity, tourism, hospitality, food and beverage, franchises, agriculture, construction, investment, pharmaceuticals, real estate, and oil and gas, reflecting the diversity of cooperation and investment opportunities between the two countries.

The SelectUSA Summit, organized by the US Department of Commerce, is the largest event dedicated to promoting foreign direct investment in the United States, bringing together international investors with representatives of state and local governments, along with government officials, with the goal of facilitating investment entry into the US market.

The embassy explained that this participation is part of a series of important economic visits that have strengthened bilateral relations, noting the visit of a delegation from the US International Development Finance Corporation to Baghdad in May, in addition to the participation of more than 100 businessmen and companies from the American-Iraqi Chamber of Commerce in a business forum held in Baghdad last April.

The embassy emphasized that these efforts aim to support Iraqi businessmen in exploring growth and investment opportunities within the United States and strengthening the economic partnership between the two countries.  https://www.radionawa.com/all-detail.aspx?jimare=41825

While Chairing The Economic And Social Council Meeting, Iraq Calls For The Formation Of An Arab Economic Bloc

Monday, May 12, 2025 3:35 PM | Economic Number of reads: 255  Baghdad / NINA / Iraq called, during the meeting of the Economic and Social Council, for the formation of an Arab economic bloc.

Director General of the Department of Foreign Economic Relations at the Ministry of Trade, and member of the presidency of the current session of the Arab Development Summit, Riyadh Fakher Al-Hashemi, said in a speech during the meeting of the Economic and Social Council at the level of senior officials, according to the official agency:

"Our meeting is not just an entitlement, but rather a sincere Arab platform to translate aspirations into action, and to address development challenges through constructive dialogue, genuine cooperation, and common will."

Al-Hashemi added: "Our Arab reality today requires us to take a serious stance and clear positions in order to chart applicable development paths capable of creating job opportunities and achieving social justice. Today, we are called upon to go beyond traditional frameworks and move towards strategic projects that move towards a truly integrated economy, effective social cooperation, and joint investment."

He continued: "The Arab economic bloc is not only important, but it is a historic entitlement, if we invest in the available elements of human and natural resources, as we are working today to formulate an agenda rich in issues, which represents a priority in the Arab development process, and lays the foundation for qualitative outcomes." /https://ninanews.com/Website/News/Details?key=1226423

The Dollar Rises Again By 144,000 Against The Iraqi Dinar.

Economy | 10:38 - 12/05/2025  Mawazine News – Baghdad  Mawazine News publishes today, Monday, the exchange rates of the dollar against the Iraqi dinar in local markets.  - Selling 143,750 dinars for $100.   Purchase 141,750 dinars for $100.  https://www.mawazin.net/Details.aspx?jimare=261303

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

Seeds of Wisdom RV and Economic Updates Monday Evening 5-12-25

Good Afternoon Dinar Recaps,

US HOUSE PASSES CONTROVERSIAL STABLECOIN BILL BACKED BY TRUMP, DIVIDES DEMOCRATS

▪️The House passed the Stablecoin Innovation and Protection Act of 2025 late Thursday.

▪️The bill, supported by President Trump, aims to create a federal framework for stablecoin issuance while preserving state-level oversight.

▪️Democrats remain split over the bill’s impact on consumer protections, foreign issuers, and financial surveillance.

The U.S. House of Representatives has passed the Stablecoin Innovation and Protection Act of 2025, a landmark piece of crypto legislation backed by President Donald Trump. The legislation, which passed with significant Republican support, proposes a federal framework for stablecoin issuance and sets broad new guidelines for how both private and public entities may issue and manage digital dollar-pegged tokens.

While the bill preserves some roles for state regulators—allowing entities like Wyoming’s digital asset office to license issuers—it also gives the U.S. Treasury, Federal Reserve, and SEC more say in oversight, compliance, and financial stability risks.

President Trump called the passage a "historic win for American financial innovation", noting that the bill will help the United States "compete with foreign stablecoins and preserve dollar dominance."

Still, Democrats remain deeply divided. Some, including Rep. Richie Torres (D-NY), backed the legislation, arguing that clear rules would help weed out bad actors and prevent future Terra-style collapses.

Others, including Rep. Maxine Waters (D-CA), warned that the bill "guts core consumer protections" and would "allow foreign and unvetted entities to flood the market with opaque dollar tokens."

The bill contains provisions that bar federal agencies from banning privacy-preserving technologies in stablecoin wallets but allows the Treasury to block specific transactions or protocols if national security risks are found. The move was seen as a concession to civil liberties groups and more libertarian-leaning Republicans.

Additionally, the bill defines what constitutes a “payment stablecoin” and allows registered institutions—like banks or licensed money services businesses—to issue them, provided they maintain 1:1 reserves in highly liquid assets such as dollars, Treasury bills, or central bank reserves.

However, it’s the international implications that may be most contentious. The bill would allow U.S.-licensed foreign firms to issue stablecoins within the U.S. market, so long as they report to U.S. regulators and pass quarterly audits. That move drew criticism from some lawmakers who fear it will benefit firms tied to adversarial governments.

Rep. Katie Porter (D-CA), who voted against the bill, said: "We are green-lighting a digital dollar shadow economy before we’ve even set the rules of the road."

The bill now heads to the Senate, where its prospects remain uncertain. Senate Banking Chair Sherrod Brown (D-OH) has yet to endorse the bill and is said to be drafting a competing version with tighter controls on foreign issuers and stricter anti-money laundering requirements.

For now, the House victory gives Trump a significant policy win as crypto continues to be a major wedge issue ahead of the 2026 midterm elections.

@ Newshounds News™
Source:  The Block

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GDP OF BRICS COUNTRIES OUTPERFORMS GLOBAL AVERAGE, US DISTANTLY BEHIND

The GDP of BRICS countries has outperformed market expectations and is exceeding the global average in 2025, according to the World Economic Outlook report published by the International Monetary Fund (IMF). The US, on the other hand, is distantly behind as its economy is growing in a limited manner this year.

In 2025, BRICS countries—Brazil, Russia, India, China, and South Africa—saw a combined growth of 3.4%, which exceeded expectations. The current consensus forecast predicts the GDP growth of the US at only 1.4% in 2025. The US economy is lagging behind this year with minimal growth, and the tariffs are threatening what little is left.

Below is the list of BRICS countries’ GDP projections for 2025:

• Ethiopia (6.6%)

• India (6.2%)

• Indonesia (4.7%)

• United Arab Emirates (4%)

• China (4%)

• South Africa (3.4%)

• Brazil (2.3%)

BRICS GDP Shines in 2025, US Economy On the Razor’s Edge

The latest data from the IMF also shows that BRICS accounts for 40% of the global GDP in 2025. That’s massive, as they already cover nearly half of the world’s economy. Their Purchasing Power Parity (PPP) is projected to reach 41% this year, signifying that the alliance is growing rapidly.

“There is no way that BRICS is not relevant, given the size of its population (and GDP in 2025). And there are also countries that are key in the supply of commodities, such as Brazil and Russia, which supply energy, food, and even very important strategic minerals,” said Rodrigo Cezar, Professor of International Relations at the Getulio Vargas Foundation (FGV) and a specialist in international political economy.

“So the BRICS countries are going to be very relevant in terms of dictating or giving direction to the prices of these materials,” leaving the US economy under its mercy, explained Cezar.

BRICS GDP could pressurize the markets in 2025, leading to it dominating the prices of the commodity markets this year.

@ Newshounds News™
Source:  Watcher Guru

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“Iraq and Iran” News posted by Clare at KTFA 5-12-2025

KTFA:

Clare:  Iraq on Trump's agenda during his Middle East tour

5/12/2025

 US President Donald Trump is embarking on a tour of the Middle East, including Saudi Arabia, the UAE, and Qatar. This visit is described as crucial given the profound changes taking place in the region .

The Saudi capital, Riyadh, is hosting the summit that will bring together Trump and the leaders of the Gulf Cooperation Council countries .

According to the White House, the visit's agenda will focus on enhancing investment and security cooperation, in addition to discussing hot regional issues. Specific agreements are expected to be signed, establishing a new phase of strategic partnership between the United States and the Gulf states .

The changes include events in Gaza, Lebanon, and regime change in Syria, in addition to relations between Iran and the United States, and Israeli attacks .

Regarding the situation in Iraq, despite the entry of pro-Iranian factions into the conflict, US pressure has forced these factions to surrender their weapons to the state, with Tehran's blessing, according to media reports .

Trump's upcoming visit is an opportunity to redefine America's role in the region and define Washington's interests in light of a new reality characterized by shifting alliances and balances of power .

Amidst the Gaza conflict and the changing maps of Syria, Lebanon, and Iraq, Trump is visiting the region carrying a new vision for American engagement in the Middle East .   LINK

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Clare:  Japanese Mazda launches in Iraq with a new look

5/11/2025

Al-Aroush Cars Company announced the signing of an official distribution agreement with the Japanese company Mazda, making it the exclusive distributor of Mazda vehicles in Iraq. The signing took place in Hiroshima City in the presence of Al-Aroush CEO, Sabah Abdul Latif Al-Salem, and Mazda's Global Sales Manager, Manabu Osoga.

Under the agreement, Al-Aroush will provide Mazda vehicles manufactured in Japan, known for their performance and design, while adapting them to the needs of the Middle East market.

The plan begins with the launch of two centers for sales, after-sales services, and spare parts in Baghdad and Sulaymaniyah, with additional centers to be opened later in Erbil and Basra. The company also aims to support existing Mazda owners in Iraq through a network of genuine service, maintenance, and spare parts.    LINK

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Clare:  "Quantum leap"... Iraqi ports receive 207 oil tankers during the first quarter of 2025.

5/12/2025

The General Company for Iraqi Ports announced on Monday that Khor Al-Zubair oil port received 207 oil tankers during the first quarter of 2025.

The company's general manager, Farhan Al-Fartousi, told Shafaq News Agency, "Khor Al-Zubair Oil Port has been able to provide marine services, including docking, launching, loading, unloading, and fuel loading for incoming ships."

He added that "the oil tankers received all logistical services within the port under the supervision of maritime control, with high efficiency," noting that "this performance reflects the development of the port's infrastructure and the efforts of its workforce."

Last February, the Director General of Iraqi Ports, Farhan Al-Fartousi, revealed an "unprecedented" achievement in Iraq's history: the International Maritime Organization's   LINK

Clare:  Al-Sudani appreciates the International Monetary Fund's efforts in supporting Iraq and its financial and monetary institutions.

5/12/2025- Baghdad

Prime Minister Mohammed Shia al-Sudani on Monday commended the International Monetary Fund's efforts in supporting Iraq and its financial and monetary institutions, reviving their vital role domestically and internationally.

The Prime Minister's Media Office said in a statement, seen by Al-Eqtisad News, that "Prime Minister Mohammed Shia al-Sudani received the head of the International Monetary Fund's mission to Iraq, Jean-Guillaume Poulin, and the Fund's Resident Representative in Iraq, Mohammed Jaber."

The statement added, "Al-Sudani appreciated the efforts of the International Monetary Fund in supporting Iraq and its financial and monetary institutions, thus restoring their vital role at the local and international levels, especially since the Fund is a key partner in Iraq's efforts to reform the economy and enhance its stability." He stressed that "the achievements made by the government in the financial, banking and economic fields represent positive steps towards achieving stability and sustainable development in the country."

According to the statement, Al-Sudani pointed to "the importance of continued support from international partners for the government in intensifying efforts to mitigate the impact of the challenges facing the region, thus facilitating the implementation of steps aimed at diversifying and sustaining the economy, through the investment environment it has provided that has attracted major development projects."

For his part, Polan commended the significant progress made by the Iraqi government in economic reform, including the development of the tax and customs system. He expressed the IMF's readiness to increase coordination and joint action, and to provide the necessary advice in areas of enhancing non-oil revenues.    LINK

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Clare:  Rafidain launches the second phase of "Riyada" with national funding and a new economic vision.

5/12/2025

Rafidain Bank announced, today, Monday, the launch of the second phase of financing the “Riyada” initiative projects, after the success of the first phase, which witnessed the financing of more than (8,000) productive projects at the individual level, with a total amount exceeding (107) billion Iraqi dinars, which constituted a real boost to the path of self-employment and stimulating the local economy.

Rafidain Bank's General Manager, Ali Karim Al-Fatlawi, confirmed in a statement received by {Euphrates News} that "the bank no longer views financing as merely a traditional banking service, but rather treats it as a strategic development tool with a national focus, aiming to support youth, stimulate local markets, and establish new foundations for a productive economy free from rent-seeking and random employment." 

He added, "The bank has allocated sufficient funds to finance new projects submitted through Riyada, after completing the technical, legal, and economic feasibility assessment requirements. He emphasized that Rafidain Bank is gradually transforming into the largest national platform supporting entrepreneurship and local production."

For his part, Hussein Flamarz, Advisor to the Prime Minister, pointed out that “the projects ready for financing exceed (10,000) projects, appreciating Rafidain Bank’s exceptional response to the initiative, and its close cooperation with the global smart card company (Ki Card) in facilitating procedures and reaching beneficiaries.” 

In this context, the Director General of Rafidain Bank renews his call to all national institutions, foremost among them the Central Bank of Iraq, to ​​actively engage in this national initiative by:

 • Allocating easy financing windows for emerging projects,

 • Launching a national fund to guarantee entrepreneurs’ loans,

 • Integrating the “Riyada” initiative into the upcoming financial inclusion strategy.   LINK

Clare:  Central Bank of Iran: Removing four zeros from the national currency is at the heart of the action plan for this year.

5/12/2025

The Governor of the Central Bank of Iran, Mohammad Reza Farzin, announced that removing four zeros from the national currency is one of the bank's priorities this year.

Mehr News Agency reported that during a specialized session on "Strengthening Monetary and Banking Governance and Investment in Production," Farzin noted that the Central Bank is seriously pursuing the country's monetary system reform program this year, explaining that removing four zeros from the national currency is one of the key measures included in the action plan.

Farzin added that the policy of controlling the growth of banks' balance sheets will continue, with the aim of curbing inflation and increasing liquidity. He emphasized that removing the four zeros from the national currency is part of the monetary system reform program, which is being seriously pursued.

The Central Bank Governor also noted that developing and issuing various types of monetary policy instruments, including deposit paper and inflation-protected securities, is among the bank's major objectives. He also emphasized that a special production account will be established to support the economy's productive sectors in a targeted manner.   LINK

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Clare:  Iran announces imminent visit of Russian president to Tehran

5/12/2025   Baghdad /  

The Iranian government announced, on Monday, that it is preparing to receive Russian President Vladimir Putin during an upcoming visit to Tehran, within the context of deepening strategic cooperation between the two countries.

Government spokeswoman Fatima Mohajerani said in a press conference, "Iran is awaiting President Putin's visit soon, and is currently working to complete the arrangements related to receiving the high-level Russian delegation."

This visit comes in light of rapid regional and international transformations, and growing coordination between Tehran and Moscow on political, security and economic issues.

Iranian President Masoud Pezeshkian visited Moscow in mid-January, where he met his Russian counterpart and oversaw the signing of the "Comprehensive Strategic Partnership Agreement" between the two countries, which Putin officially ratified on April 21.  LINK

Iraq Economic News And Points To Ponder Monday Afternoon 5-12-25

46 Prominent Iraqi Businessmen And Traders Travel To America.
 
Baghdad Today – Baghdad  The U.S. Embassy in Baghdad announced today, Sunday, May 11, 2025, that it will lead a delegation of 46 Iraqi business leaders, including representatives from the Kurdistan Region of Iraq, to ​​the United States to participate in the annual SelectUSA Investment Summit.
 
The US Embassy noted in a statement received by Baghdad Today that
the summit will be held in the Washington, D.C., area from May 11th to 14th.  

She noted that "the delegation includes diverse economic sectors, including technology, cybersecurity, tourism and hospitality, food and beverage industries, franchises, agriculture, construction, investment, pharmaceutical industries, real estate, and the oil and gas sector.
 
This diversity highlights the broad opportunities for cooperation and joint investment between the United States and Iraq."
 
The SelectUSA Summit is the largest event of its kind aimed at encouraging foreign direct investment in the United States.
 
The summit attracts international investors, representatives from state and local governments, and
government officials, with the goal of facilitating the flow of investment into the US economy.
 
The summit is organized by the US Department of Commerce, which provides essential information and services to help foreign investors understand and complete investment procedures in the United States.
 
The goal is to enable Iraqi companies to identify investment opportunities in the United States and grow their businesses, according to the statement.

He explained that "this visit comes within the context of a series of important visits aimed at strengthening economic relations between Iraq and the United States in various sectors."
 
It's worth noting that a delegation from the US International Development Finance Corporation visited Baghdad this May, and in April, more than 100 businessmen and companies affiliated with the American-Iraqi Chamber of Commerce participated in a business forum held in Baghdad.        https://baghdadtoday.news/274002-46.html 

Ministry Of Oil: Iraq Is Floating On A Large And Inexhaustible Oil And Gas Reservoir.

Time: 2025/05/11 08:15:30 Reading: 3,030 times   {Economic: Al Furat News} The Ministry of Oil reported that Iraq is floating on a large oil and gas reservoir from north to south, and work is ongoing to reach new discoveries.

Osama Raouf Hussein, the director general of the Ministry of Oil Exploration's company, said in a press statement that "Iraq's reserves are large and are what raises its ranking in the Organization of the Petroleum Exporting Countries (OPEC)," noting that "Iraq is floating on a large oil and gas reservoir from north to south, and it will not be depleted from now on and for a very long time."

He added, "The Oil Exploration Company is a pioneer in the field of seismic surveys and is the sole exploration arm of the Ministry of Oil. 8

With the help of its seismic teams spread throughout Iraq, it has been able to carry out seismic surveys for international companies. It signed a contract with the Chinese company Geo-Jade to carry out a two- and three-dimensional seismic survey of the Khana oil patch in Diyala Governorate.

This contract was implemented with purely national efforts and with modern capabilities, potential and technology that rivals what exists in the world. It was implemented in record time and with a 100 percent completion rate.

In addition, a contract was signed with the Angolan company Sonangol to carry out three-dimensional surveys of the Qayyarah field in Nineveh Governorate, which was completed 100 percent. The Oil Exploration Company received certificates of appreciation and praise from both companies for the information, accuracy and speed of completion."

Hussein explained that, "Despite the limited and scarce financial capabilities, the company was able to carry out 15 two-dimensional seismic surveys at the national level, with completion rates of 102.4 percent, in addition to four three-dimensional surveys with a completion rate of 116 percent."

He stressed that "the Oil Exploration Company is currently using the most modern surveys in the world, and is in the process of introducing wireless technology, which is characterized by flexibility, ease of use, and saving time, effort, and cost."

The Director General of the Oil Exploration Company indicated that "it was able to achieve revenues estimated at 230 billion dinars during the past year, in addition to achieving revenues through the VSP vertical survey team estimated at 114 thousand dollars by signing a contract with the American company (Halliburton), in addition to contracts with (Anton Oil) in the Al-Faiha field, and (EBS) in the East Baghdad field."

He explained that "the Oil Exploration Company was supposed to receive an operating budget estimated at 200 billion dinars, of which the company received only 10 percent," noting that "the company was threatened with ceasing operations had it not signed some contracts through which it was able to achieve high revenues."

Hussein continued, "The mission of the Oil Exploration Company is to enhance hydrocarbon reserves and replenish depleted reserves. This is achieved through exploration of hydrocarbon reservoirs and assessment of their reserves, through geological and geophysical exploration studies, and identifying the locations of exploratory wells. When they are drilled and produce oil or gas, this means they have added to Iraq's reserves and replenished depleted reserves through local consumption and export outside Iraq."  LINK

Iraq Was The Third Largest Oil Exporter To The US Last Week.

Energy  Economy News – Baghdad   Iraq ranked third as the largest oil supplier to the United States last week.   The US Energy Information Administration reported that US crude oil imports from ten major countries averaged 5.269 million barrels per day last week, up 176,000 barrels per day from the previous week's average of 5.093 million barrels per day.

The administration added that "Iraq's oil exports to the United States reached an average of 229,000 barrels per day, making Iraq the third-largest oil exporter to the United States last week."

She continued, "The largest oil revenues to America during the past week came from Canada, at a rate of 3.834 million barrels per day, followed by Mexico at a rate of 384,000 barrels per day, then Iraq at a rate of 229,000 barrels per day, then Colombia at a rate of 164,000 barrels per day, and then Saudi Arabia at a rate of 160,000 barrels per day."

She explained that "the amount of US crude oil imports from Ecuador reached an average of 156,000 barrels per day, from Venezuela an average of 144,000 barrels per day, from Brazil an average of 86,000 barrels per day, from Nigeria an average of 83,000 barrels per day, and from Libya an average of 29,000 barrels per day."   https://economy-news.net/content.php?id=55332

Customs Automation Increases Government Revenues To More Than 59 Billion Dinars.

May 11, 2025  Baghdad - Ibtihal Al-Arabi   Finance Minister Taif Sami revealed a quantum leap in customs revenues, exceeding 59 billion dinars, following the implementation of the ASYCUDA customs automation system at several border crossings.

Sami said in a statement yesterday that (customs revenues before implementing the ASYCUDA system amounted to 375 billion dinars, while after implementation it increased to 435 billion dinars, an increase of 59 billion dinars), and indicated that (the General Authority of Customs has begun implementing the ASYCUDA system in 15 customs centers, including the air cargo customs, the dry port, the Baghdad International Airport terminal, the Great Welcome Square customs, Trebil, Safwan, Arar, Umm Qasr Middle, Umm Qasr South, Kirkuk Airport, and the ports of Zurbatiyah, Al-Mundhiriya, Mandali, Al-Shaib, and Al-Shalamcheh).

She indicated that (the Authority has currently begun implementing the second phase of the system, which extends over two years, and includes its implementation in 8 remaining customs centers, in addition to linking 12 electronic applications to the system, including land transport clearance, the smart value and selectivity system, and the exemptions, licenses, and certificates system, which will enable the system to be linked with all ministries).

Meanwhile, the Border Ports Authority has compiled a list of all violations detected during the month of April.

In a statement received by Al-Zaman yesterday, Authority spokesman Alaa al-Din al-Qaisi said, "Based on the directives and follow-up of Prime Minister Mohammed Shia al-Sudani, the Authority detected violations that fell under several headings."

Customs Violations

He stressed that "the total number of customs cases referred from our ports to the judiciary amounted to 119 cases for customs violations, while 131 suspects wanted by judicial warrants were arrested."

He confirmed that (attempts to smuggle money were thwarted, with 6 seizures), and went on to (seize narcotic substances and arrest their possessors, as 26 drug smuggling attempts were thwarted, as well as deport 155 people violating residency conditions, in addition to a number of joint activities with departments operating at border crossings, most notably with the General Authority of Customs, where the number reached 13 cases, including the destruction of materials unfit for human consumption, and the re-issuance of goods that failed inspection).

He continued that (all violations were subject to the necessary legal measures, and were referred to the judicial authorities according to proper seizure reports), pointing out that (all measures come from the implementation of government directives to tighten and control border crossings, and the Authority continues to follow up on all violations and work to control and reduce their occurrence).

 Meanwhile, the Trade Bank of Iraq warned citizens of the risks of sharing their electronic payment card information.

The bank's media advisor, Aqil Al-Shuwaili, said in a statement yesterday that "the bank urges customers not to share their card numbers or confidential information, such as the PIN, verification code, or any other details, with any party."

Official Channels

He pointed out that "there are electronic fraud attempts targeting cardholders through fake messages claiming to be from the bank," calling on everyone to "exercise caution and report any suspicious attempt immediately through the bank's official channels." He went on to say that "the bank continues to take all necessary security measures to protect customer data and ensure the integrity of their financial transactions."    LINK

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Iraq Economic News And Points To Ponder Monday Morning 5-12-25

How Did The Central Bank's Strategic Plan Control The Dollar Price?

Banks   Economy News – Baghdad   The Prime Minister's financial advisor, Mazhar Mohammed Saleh, confirmed on Sunday that the strategic plan adopted by the Central Bank, in cooperation with banks, focused on controlling the buying and selling of dollars outside official channels.

This was achieved by accommodating foreign trade requirements and meeting demand through open and correspondent accounts. This contributed to a decline in demand for dollars in the parallel market.

Saleh explained that "the narrowing gap between the official exchange rate and the parallel (black) market exchange rate is one of the most prominent indicators of the success of the strategic approach to controlling the currency market outside official channels, which has had a positive impact on economic stability and the interconnectedness of the Iraqi economy."

He added, "This approach has contributed significantly to enhancing the stability of the monetary market, which benefits the strength of the Iraqi dinar and represents a key factor in improving the business environment and attracting local and foreign investments, particularly those operating under the Investment Law."

He noted that "these measures also contribute to strengthening financial and banking governance by supporting transparency and restricting cash transactions to official channels, which helps combat money laundering, terrorist financing, and illegal financial activities."

Regarding the operational aspect of the Central Bank's strategy, Saleh noted that "supporting commercial and investment banks and linking them to the SWIFT system and international correspondents represents a fundamental step towards enhancing compliance with international standards."

 He emphasized that "the Central Bank has succeeded in establishing an electronic monitoring system to track transfers and banking operations in foreign currency. This system has passed multiple testing stages and proven its effectiveness."

Regarding monetary policy and enhancing confidence in the banking system, he stated that "the strategy adopted has contributed to reducing annual inflation rates by limiting exchange rate fluctuations in the parallel market and providing foreign currency through official channels.

This has helped boost confidence in banks and reduce reliance on the informal market, thus gradually supporting the value of the dinar."

He continued, "These measures are pivotal within the Central Bank's strategy to reform the financial and banking system," stressing that "the continued success of this process requires sustained cooperation and commitment between the Central Bank and national banks, particularly with regard to strengthening governance and compliance to ensure transparency, integrity, and effectiveness in the financial system."  https://economy-news.net/content.php?id=55350

After The Dollar's Decline Against The Dinar, The Government Announces The Central Bank's Success In Establishing An Electronic Monitoring System To Track Transfers

Buratha News Agency1372025-05-11   The Prime Minister's financial advisor, Mazhar Mohammed Salih, revealed on Sunday the reason for the dollar's decline against the dinar in Iraqi markets.

"The narrowing gap between the official exchange rate and the parallel (black) market exchange rate is one of the most prominent indicators of the success of the strategic approach to controlling the currency market outside official channels, which has had a positive impact on economic stability and the interconnectedness of the Iraqi economy," Saleh told the official agency.

He added, "This approach has contributed significantly to enhancing the stability of the monetary market, which benefits the strength of the Iraqi dinar and represents a key factor in improving the business environment and attracting local and foreign investments, particularly those operating under the Investment Law."

He noted that "these measures also contribute to strengthening financial and banking governance by supporting transparency and restricting cash transactions to official channels, which helps combat money laundering, terrorist financing, and illegal financial activities."

Regarding the operational aspect of the Central Bank's strategy, Saleh noted that "supporting commercial and investment banks and linking them to the SWIFT system and international correspondents represents a fundamental step towards enhancing compliance with international standards."

He emphasized that "the Central Bank has succeeded in establishing an electronic monitoring system to track transfers and banking operations in foreign currency. This system has passed multiple testing stages and proven its effectiveness."

Regarding monetary policy and enhancing confidence in the banking system, he stated that "the strategy adopted has contributed to reducing annual inflation rates by limiting exchange rate fluctuations in the parallel market and providing foreign currency through official channels. This has helped boost confidence in banks and reduce reliance on the informal market, thus gradually supporting the value of the dinar."

He continued, "These measures are pivotal within the Central Bank's strategy to reform the financial and banking system," stressing that "the continued success of this process requires sustained cooperation and commitment between the Central Bank and national banks, particularly with regard to strengthening governance and compliance to ensure transparency, integrity, and effectiveness in the financial system."   https://burathanews.com/arabic/economic/459997

A Government Advisor Reveals The Reason For The Dollar's Decline Against The Dinar.
 
Economy     2025-05-11 | 08:49   5,764 views  The Prime Minister's financial advisor, Mazhar Mohammed Salih, revealed on Sunday the reason for the dollar's decline against the dinar in Iraqi markets.
official exchange rate and the exchange rate in the
 
"The shrinking gap between the parallel (black) market is one of the most prominent indicators of the success of the strategic directions to control the currency market outside official channels,  which has had a   positive impact on economic stability and the  interconnectedness of the Iraqi economy," 
Saleh said in an interview with the official agency, followed by Sumaria News.

He added,  "This approach has contributed significantly to enhancing the stability of the monetary market,  which benefits the strength of the Iraqi dinar and  represents a key factor in
     improving the business environment and
     attracting local and foreign investments,
particularly those operating under the Investment Law."

He noted that  "these measures also contribute to strengthening financial and banking governance
by supporting transparency and restricting cash transactions to official channels,
which helps combat money laundering, terrorist financing, and illegal financial activities."
 
Regarding the operational aspect of the Central Bank's strategy, Saleh noted that  supporting commercial and investment banks and linking them to the SWIFT system and international correspondents represents a fundamental step towards enhancing compliance with international standards."

He emphasized that "the Central Bank has succeeded in establishing an electronic monitoring system
to track transfers and banking operations in foreign currency.
 
This system has passed multiple testing stages and proven its effectiveness."
 
Regarding monetary policy and enhancing confidence in the banking system, he stated that  
"the strategy adopted has contributed to reducing annual inflation rates by
     limiting exchange rate fluctuations in the parallel market and
     providing foreign currency through official channels.
 
This has helped boost confidence in banks and reduce reliance on the informal market, thus
gradually supporting the value of the dinar."

He continued, "These measures are pivotal within the Central Bank's strategy to reform the financial and banking system," stressing that "the continued success of this process requires   sustained cooperation and commitment between the Central Bank and national banks, particularly with regard to
     strengthening governance and compliance to
     ensure transparency, integrity, and effectiveness in the financial system."    
  
https://www.alsumaria.tv/news/economy/525851/مستشار-حكومي-يكشف-سبب-تراجع-الدولار-أمام-الدينار   

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

Seeds of Wisdom RV and Economic Updates Monday Morning 5-12-25

Good Morning Dinar Recaps,

U.S. ANNOUNCES CHINA TRADE DEAL IN GENEVA

Secretary of the Treasury Scott Bessent: “I’m happy to report that we made substantial progress between the United States and China in the very important trade talks. First, I want to thank our Swiss host. The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive.

We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson, and myself. And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on. So, there will be a complete briefing tomorrow morning.”

U.S. Trade Representative Ambassador Jamieson Greer: “This was, as the Secretary pointed out, a very constructive two days. It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought.

That being said, there was a lot of groundwork that went into these two days. Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.”

@ Newshounds News™
Source:  The White House

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BRICS OR THE US? SAUDI ARABIA MAY HAVE CHOSEN A SIDE AMID THE FACEOFF

Since the start of the year, the BRICS economic alliance and the US have seen tensions explode, and Saudi Arabia has unwillingly sat at the center. Indeed, their issues have reached a fever pitch amid a brewing trade war between the United States and China. Now, all eyes are on Riyadh and where its loyalties could lie in a geopolitical sense.

The country was among the first to be included in the bloc’s landmark expansion plan. However, since accepting an invitation to join, Saudi Arabia has yet to fully become a part of the collective. Now, that may never come, as it stands in a complicated position with both allies.

Saudi Arabia Stands at the Center of US & BRICS Conflict: Which Side Are They On?

Since his return to the White House, US President Donald Trump has not minced words regarding the BRICS bloc. Indeed, he warned that the bloc would face a 150% tariff for its attempts at creating a currency to rival the US dollar. Moreover, it has hit China with import duty increases as high as 245% amid its ongoing challenges.

Those issues have only continued to fester throughout the year. Moreover, it has created a rather uncertain geopolitical dynamic for one nation at the center. Specifically, as the BRICS and the US face off, Saudi Arabia may soon be forced to choose a side. That is, if it hasn’t already done so.

Saudi Arabia was present at a BRICS meeting last week, according to sources. Moreover, it is still considered a potential BRICS nation after accepting its invitation to join as an expanding country.

However, that may not tell the whole story. Specifically, the country is worried that its BRICS relations will threaten its partnership with the US, Reuters reports.

Saudi Arabia “does not want to risk US anger as negotiations are underway in Washington,” the report noted. This created a notable balancing act between its US and Chinese relations. On the one side, China is its biggest oil exporter. Alternatively, Washington is a key security and tech partner.

The decision may have already been made due to its inaction; however, Riyadh has yet to officially join BRICS. Therefore, it may be able to salvage its relationship with China on its own. Subsequently, ensuring its partnership with both nations could endure, with only BRICS suffering in the end.

@ Newshounds News™
Source:  Watcher Guru

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DEMOCRATIC SENATORS PROPOSE BAN ON CRYPTO PROMOTION BY TRUMP, SENIOR GOVERNMENT OFFICIALS AMID STABLECOIN BILL SPAT

▪️__A group of 20 Democratic Senators__ has introduced legislation that would ban the creation and promotion of cryptocurrencies by the President, Vice President, Congress, and Senate-confirmed Cabinet members, among some others.

▪️__The legislation was introduced amid growing tensions__ over the Senate’s stablecoin bill, after a number of Democrats withdrew their support from the current version of the bill.

▪️__The bill would attempt to prohibit Trump and Melania from profiting from their memecoins, though it would not necessarily impact the World Liberty Financial project.

▪️Elon Musk, as a Special Government Employee, would also be barred from promoting crypto.

A group of 20 Democratic Senators have unveiled new legislation that seeks to prohibit senior government officials from issuing or endorsing cryptocurrencies, as key Democrats raise concerns about President Trump's business dealings in the crypto sector.

The so-called “End Crypto Corruption Act of 2025” would prohibit the President, Vice President, members of Congress, individuals appointed to Senate-confirmed positions, and certain other special government employees in the Executive Office, plus their spouses and dependent children, from issuing, sponsoring, or endorsing any cryptocurrencies or other digital assets.

One such special government employee: Elon Musk, alongside other members of the Department of Government Efficiency (DOGE) team. Musk recently clarified that the department has no plans to use the memecoin of the same name in its official capacity.

Normal sale transactions would be permitted in the current form of the bill, which imposes fines and possible jail times on offenders. The bill covers government employees and their families during their term and for one year after, and was introduced on May 7.

The bill, the Senate counterpart of similar House legislation introduced earlier this year, is the latest response to the escalating political negotiations over the Senate's stablecoin bill.

A number of Senate Democrats voted against the legislation in its current form,  accusing Republicans of not compromising on key issues like anti-money laundering legislation and foreign issuer oversight.

The bill seeks to prevent President Trump and his wife Melania from profiting from their memecoins, which were issued shortly before the inauguration. $TRUMP has recently traded higher after Trump announced its top holders would be personally invited to a White House dinner, raising conflict of interest concerns from some Democrats.

However, it's unclear whether Trump’s position as “chief crypto advocate” at the World Liberty Financial firm — more closely associated with his sons and senior administration members — would be prohibited under the bill in its current form.

Senate Democrats have recently raised concerns about a planned $2 billion deal between an Abu Dhabi investment firm and Binance with the firm’s WLD1 stablecoins.

“Our concerns about Binance’s compliance obligations are even more pressing given recent reports that the company is using the Trump family’s stablecoin to partner with foreign investment companies,” several Democratic senators wrote last week.

Senator Elissa Slotkin (MI), a co-sponsor of the bill, told Michigan Advance that preventing Trump from profiting from his memecoin is more pressing than broader crypto regulation:

“We’ve got a more immediate crocodile closer to the boat, and that’s the president of the United States, selling his own currency and marketing his own currency and using it as a form of payment to line his pockets,” Slotkin said.

@ Newshounds News™
Source:  The Block

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“Tidbits From TNT” Monday Morning 5-12-2025

TNT:

Tishwash:  Monetary policy raises the value of the dinar and reduces reliance on the parallel market

The Iraqi dinar has recently recorded strong performance against the dollar, driven by a series of monetary measures adopted by the Central Bank, which have contributed to reducing demand for hard currency in the parallel market and enhancing the confidence of traders in official channels.

This improvement comes amid ongoing government efforts to consolidate financial stability and stimulate business activity through effective monetary instruments and transparent and direct financing mechanisms.

Deputy Governor of the Central Bank of Kuwait, Dr. Ammar Hamad, confirmed to Al-Sabah that this increase reflects the success of the monetary policy pursued by the bank in reducing reliance on the parallel market and providing safe and transparent sources of financing for foreign trade. He explained that this policy has enabled the commercial family to obtain dollars through official channels that adhere to international standards, without having to resort to the unregulated market.

Hamad noted that the Central Bank continues to work toward consolidating the local banking system and raising its operational efficiency to levels consistent with international banking standards, making it a fundamental pillar in driving economic development in Iraq. He added that the bank is adopting advanced mechanisms that enable banks to offer diverse banking products that support various economic sectors and facilitate financing and cash flow operations.

For his part, the Prime Minister's Advisor for Financial Affairs, Dr. Mazhar Mohammed Salih, explained that a number of factors contributed to strengthening the value of the dinar, most notably the weak demand for the dollar in the parallel market, as a result of the Central Bank's policies regarding financing foreign trade for the private sector. He explained that the bank strengthens Iraqi banks' dollar balances through their correspondents abroad, especially banks with a high credit rating (AAA), which speeds up the execution of international transfers and reduces the need for dollars in the local market.

He also indicated that the move towards using alternative currencies such as the euro, yuan, dirham, and lira in banking transactions has helped reduce excessive reliance on the dollar.

Saleh also noted that enabling small businesses to access financing sources directly through Iraqi banks, without costly intermediaries, has helped reduce operating costs and improved commercial efficiency, as this segment represents approximately 60% of private sector trade. He added that travelers can now easily obtain their foreign currency dues via payment cards at a subsidized exchange rate of 1,320 dinars to the dollar, in addition to the ability to receive dollars in cash at Iraqi airports, which has eased pressure on the parallel market.

In the same context, economic expert Nazir Al-Saadi emphasized that the money transfer services provided by the Central Bank have become safer and more effective, which has prompted business families to move away from the parallel market, which is characterized by significant risks and high costs.

He explained that relying on official transfers not only ensures the safety of transactions, but also reduces the final cost of imports, which is positively reflected in the prices offered to consumers. He added that random transfers from the parallel market often caused losses to importers due to failure to implement them or due to price fluctuations, while the Central Bank mechanism provides a stable financial system that preserves the value of the currency and reduces Opportunities for manipulation. link

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Tishwash:  The US Embassy: the participation of an Iraqi delegation in an annual investment summit.

The US Embassy in Baghdad announced on Sunday that an Iraqi delegation will participate in the annual SelectUSA Investment Summit this May.

The embassy said in a statement that it is leading a delegation of 46 business leaders from Iraq, including the Kurdistan Region of Iraq, to ​​the United States to participate in the annual SelectUSA Investment Summit, which is being held in the Washington, D.C., area from May 11-14.

The embassy added that the delegation "includes a diverse range of sectors, including technology, cybersecurity, tourism, hospitality, food and beverage, franchising, agriculture, construction, investment, pharmaceuticals, real estate, and oil and gas. This diversity highlights the broad opportunities for cooperation and investment between the United States and Iraq."

It emphasized that the summit "is the largest event dedicated to promoting foreign direct investment in the United States," noting that it "brings together international investors, representatives from state and local governments, and government officials to facilitate investment in the American economy."

She explained that the summit "is organized by the Ministry of Trade and provides essential information and services to help foreign investors navigate the investment process in the United States," noting that it "aims to help Iraqis identify investment opportunities in the United States and grow their businesses."

The embassy continued in its statement, "This visit is part of a series of important visits aimed at strengthening economic relations between Iraq and the United States across various sectors."

It concluded by saying, "During May, a delegation from the U.S. International Development Finance Corporation visited Baghdad, and in April, more than 100 businessmen and companies from the American-Iraqi Chamber of Commerce participated in a business forum in Baghdad."  link

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Tishwash:  The 2025 budget schedules will be finalized by the end of May.

MP Baqir Al-Saadi stressed that "the existence of 2025 budget schedules is important to ensure project funding and provide financial support for local governments, enabling them to proceed with implementing service projects across all sectors."

Al-Saadi indicated in a press interview seen by (Al-Masry Al-Youm, Sunday 5/11/2025) that “the 2025 budget schedules will be decided by the end of this May.”

He said, "Despite talk of the possibility of postponing the budget resolution until after the November 2025 elections, there are indications that the budget schedules may be finalized by the end of this month. Thus, after the end of the legislative recess, the parliament will have the opportunity to finalize it or hold extraordinary sessions to discuss and vote on it."

He explained that "the delay in finalizing these schedules and the Cabinet's failure to send them to the Parliamentary Finance Committee for review before submitting them to the Parliament Presidency for a vote has negative repercussions on the funding of service projects in ministries and local governments." link

Mot:  ... Don't Forget – Grandma  

BRICS Cracking Western Empire as Global Financial Reset Accelerates

BRICS Cracking Western Empire as Global Financial Reset Accelerates

Lena Petrova: 5-10-2025

For decades, the US dollar has reigned supreme as the undisputed king of global finance. Its dominance has underpinned international trade, served as the primary reserve currency for nations worldwide, and granted the United States unparalleled economic leverage.

However, rumblings of discontent have been growing, and a powerful force is emerging that threatens to challenge this long-standing status quo: the BRICS alliance.

The BRICS nations – Brazil, Russia, India, China, and South Africa – representing a significant portion of the world’s population and economic output, have been actively pursuing a policy of de-dollarization.

This multifaceted strategy aims to reduce reliance on the US dollar in international trade and financial transactions, ultimately paving the way for a more multipolar global financial system.

Several factors are driving this push for de-dollarization. Firstly, the perceived weaponization of the dollar by the US, particularly through sanctions, has created a desire for alternative economic pathways. Nations feel vulnerable when their access to the global financial system can be unilaterally restricted by Washington.

Secondly, the BRICS countries are increasingly frustrated with the inherent disadvantages of the dollar-centric system. They argue that it necessitates holding large reserves of US dollars, exposes them to US monetary policy decisions, and limits their economic sovereignty.

Finally, the ambition to create a truly multipolar world, both politically and economically, fuels the de-dollarization agenda. The BRICS nations seek to assert their influence on the global stage and challenge the long-held dominance of the West.

The de-dollarization efforts of the BRICS nations are undeniably contributing to a potential shift in the global financial landscape.

While a complete dismantling of the dollar’s dominance is unlikely in the near future, the erosion of its influence is becoming increasingly apparent. This could be interpreted as a gradual “reset” of the global financial order.

Despite the momentum behind de-dollarization, significant challenges remain. The US dollar’s deep-rooted infrastructure, network effects, and safe-haven status are formidable obstacles. Furthermore, ensuring the stability and credibility of alternative currencies and payment systems is crucial for their widespread adoption.

The BRICS alliance’s pursuit of de-dollarization represents a significant challenge to the existing global financial order. While the path to a truly multipolar system is long and complex, the efforts to reduce reliance on the US dollar are gaining traction and could lead to a fundamental shift in the balance of economic power.

The acceleration of these efforts suggests that a global financial reset, characterized by increased multipolarity and a redistribution of economic power, is not just a possibility, but an unfolding reality. The future will undoubtedly witness a more contested and fragmented global financial landscape, where the dominance of the US dollar is no longer taken for granted.

https://youtu.be/I_TMb844VHY