Iraq Economic News and Points To Ponder Tuesday Evening 7-22-25

Kurdistan Deposits 120 Billion Dinars Of Its Non-Oil Revenues Into The Federal Finance Account.
 
July 22, 2025   Erbil/Iraq Observer  The Kurdistan Regional Government's Ministry of Finance and Economy announced on Tuesday that  the state treasury's share of non-oil revenues  has been deposited into the federal Ministry of Finance's bank account.  The Kurdistan Region's Ministry of Finance stated in a statement received by Iraq Observer that  "the Kurdistan Region's non-oil revenues for May 2025, amounting to 120 billion dinars, have been deposited in cash into the federal Ministry of Finance's bank account  at the Erbil branch of the Central Bank of Iraq."

Under the agreement signed between the Kurdistan Region and Iraq, the Kurdistan Regional Government is required to   hand over oil to SOMO and  send non-oil revenues to the federal treasury in the amount of 120 billion dinars per month.
 
The Iraqi government then sends salaries.
 
The last time the Kurdistan Regional Government received salary payments from Baghdad was 959 billion and 514 million dinars, which were deposited into the Kurdistan Region's Ministry of Finance's bank account on May 13. https://observeriraq.net/كوردستان-تودع-120-مليار-دينار-من-إيرادات/   

Oil To Baghdad Today: Initial Agreement With Kurdistan To Deliver 230,000 Barrels To SOMO

Today's Economy , 20:29 | 183  Video   Baghdad Today – Baghdad  The Undersecretary of the Ministry of Oil, Bassem Mohammed Khudair, revealed today, Tuesday (July 22, 2025), that  a preliminary agreement had been reached with the Kurdistan Regional Government to deliver 230,000 barrels of oil per day to SOMO, while indicating that the ministry hopes to announce a final agreement soon. said In a statement to Baghdad Today, Khadir , "Technical delegations from the  Ministry of Oil and the  Kurdistan Regional Government  reached a preliminary agreement during recent meetings to deliver 230,000 barrels of oil per day to the National Marketing Organization (SOMO),  in accordance with the provisions of the federal budget law."  

He added, "The talks are progressing positively, and  there is an understanding from both sides of the importance of reaching a  comprehensive and sustainable agreement  that serves Iraq's interests and enhances public oil revenues."    https://baghdadtoday.news/279232-230.html 

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

Iraq Economic News and Points To Ponder Tuesday Afternoon 7-22-25

It Didn't Bring Anything New," An Economist Comments On The IMF's Report On Inflation Stability In Iraq.
 
July 21, 2025  Baghdad/Iraq Observer  Economic and financial expert and consultant Dr. Ahmed Al-Husseini commented on the latest International Monetary Fund report, stressing that it offered nothing new. Despite Iraq's control over inflation levels through its monetary policy, inflation has had a different impact on the lives and livelihoods of ordinary citizens, who suffer from high prices for both basic commodities and services. 

Al-Husseini told the Iraq Observer, "The IMF report did not provide anything new. For several years , Iraq has been controlling inflation, with it never exceeding 4% even in the worst of circumstances.

This is due to the monetary policy Iraq adopted, which was a balanced policy that combined control of  the banking system on the one hand and control of the required reserve ratio on the other."
 
Regarding the US sanctions, Al-Husseini explained that "these sanctions, imposed on a group of Iraqi banks, which, from the US Treasury's perspective,  had some violations in their monetary policies,  contributed, in one way or another, to reducing the level of inflation by controlling  credit levels,  money laundering, and other banking operations  carried out by these banks." 

He added, "Iraq has also controlled inflation through its control of the money supply, in addition to the
     regulations and laws in force at banks.
 
The Central Bank's actions, in turn, were calculated by its entry into the open market, as it knows  when to buy or sell bonds, as well as the discount rates on banknotes, in order to  control and manage inflation in the country."
 
“Although inflation levels are stable, the reality of inflation is clearly reflected on the average citizen through the impact on his real wage and on the consumption level for those with limited incomes.
 
Nominal wages are still not in line with inflation rates.
 
This is clear, as a large segment of citizens are complaining about the high prices and cost of living,
especially for basic commodities, not luxury items such as  food, medicine,  building materials and  clothing.
 
Even at the level of services such as   transportation,  health, education and other sectors, 
there is a noticeable rise in the level of prices,” he continued.
 
The economic and financial expert and consultant expressed his hope that "Iraq will adopt the new monetary policies currently in place in many countries around the world,
which several countries, such as the Gulf states and Turkey, have begun implementing,
based on  financing small projects and  clean energy projects."
 
The IMF promised Iraq is a country that has been successful in maintaining its internal stability despite regional tensions. It noted that Iraq's inflation rate has remained low, emphasizing the  need to implement fundamental reforms to  increase non-oil revenues and  control the public wage bill. It also called for a review of current and investment spending plans for 2025.      
https://observeriraq.net/لم-يأتِ-بجديد-معني-بألشأن-الاقتصادي-يع/  

Digital banks in Iraq: the birth of a new financial era 
 
Economic 07/21/2025   Dr. Nabil Rahim Al-Abbadi    In conjunction with the Central Bank of Iraq's efforts to  enhance financial inclusion and  modernize the banking system,   a strategic initiative was launched.
 
This initiative includes  developing an instant payments project and  issuing local cards, in addition to  issuing regulations for licensing digital banks in Iraq.
 
This step comes as part of a comprehensive plan aimed at integrating modern technological concepts into the financial sector, taking into account the  technical requirements of the information infrastructure and the  cybersecurity risks that accompany this transformation.
 
The issued report highlights the mechanisms for establishing digital banks in Iraq and explains how to implement this initiative  in accordance with the regulations of the Central Bank of Iraq, in integration with local payment systems and global fintech standards, while adhering to environmental and social governance practices that have become  essential in the world of modern finance.
 
The proposed digital bank model focuses on providing financial services electronically,  without the need for traditional branches.
 
This includes payment services via apps, digital wallets,  transfers, loans, and more, targeting segments of society that are underserved by banking services, including   individuals,  small and medium-sized enterprises, and  rural communities.
 
In terms of objectives,The initiative seeks to  expand financial inclusion, reduce reliance on cash, which accounts for more than 90 percent of transactions, and   enhance the resilience of the local economy by supporting small and emerging businesses.
 
It also aims to strengthen adherence to security standards and combat financial crime.
 
The Central Bank's strategic plan for the period 2014-2026 also focuses on  modernizing the financial sector, expanding the bank account base, which does not exceed 30 percent of the population, and developing electronic payment systems.
 
This will contribute to achieving financial stability and attracting foreign investment  by aligning regulations with international standards.
 
Partnerships with international institutions such as the World Bank, the  United Nations Development Programme, and the International Finance Corporation  are pivotal to the success of this vision.

At the same time, regulations adopted in 2024 require  strict adherence to cybersecurity and data protection standards, along with building a robust technical infrastructure and  implementing effective anti-money laundering systems.
 

Challenges facing the sector include weak trust in digital transactions, regulatory complexity,  financial exclusion affecting more than half of the population, and the risks of cyberattacks due to weak digital infrastructure.
 
Despite these challenges, there are significant opportunities for growth. The Iraqi market is home to more than 45 million people, and there is widespread smartphone and internet penetration.

Furthermore, the government is keen to support technology projects in cooperation with global financial institutions, which paves the way for the growth of small and medium-sized enterprises and the  transition to a modern financial culture.
 
Digital payments market analysis reveals advanced demographic indicators, with the number of internet users reaching 35 million,  mobile phones reaching 47 million, and the number of digital payment users expected to reach 25 million by 2027, although the adoption rate of these methods remains low compared to the region.
 
The digital bank's initial capital has been set at 100 billion Iraqi dinars, to be distributed over five years.
 
Foreign investment may not exceed 49 percent, subject to the approval of the Central Bank.
 
Furthermore, foreign o ownership in digital banking projects may not exceed 56 percent per investor, with the possibility of a slight increase if approved by regulatory authorities.
 
This is intended to ensure financial stability and strengthen the operational structure.
 
An important aspect is environmental, social, and governance (ESG) practices,
which include adherence to the sustainable finance roadmap, promoting social inclusion, implementing transparent governance structures, and effective risk management.
 
Establishing a digital bank in Iraq is not only a response to global trends,
but also a strategic opportunity to support the national economy and provide modern banking services to a broad segment of citizens.
 
This requires strict adherence to legislation, a flexible operational approach, and the political and economic will to keep pace with the global digital transformation.     https://alsabaah.iq/117734-.html    

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

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 7-22-25

Good Afternoon Dinar Recaps,

Why Trump Sees BRICS as the Biggest Threat to U.S. Dominance

With de-dollarization accelerating and local currency trade expanding, the BRICS alliance poses a serious challenge to the post-WWII American-led financial order.

Economic Power Shift: BRICS Expands Global Footprint

The BRICS alliance now represents around 45% of the global population and 37% of the world’s GDP, establishing itself as a powerful alternative to U.S.-led economic structures.

Trade data shows a staggering imbalance:

• U.S. imports from BRICS: $650 billion

• U.S. exports to BRICS: $300 billion

• China alone exports: $448 billion to the U.S.

“They are demanding multipolarity—financial, cultural, and political. The United States is fighting to maintain a hegemony that is in crisis,”
— Marta Fernandez, BRICS Policy Center Director

De-Dollarization: A Direct Strike at U.S. Monetary Control

BRICS has accelerated de-dollarization through expanded local currency settlements and central bank coordination.

• China–Russia bilateral trade in 2024 hit $244.8 billion — settled primarily in yuan and rubles.

• The New Development Bank now lends 25% in local currencies, with a target of 30% by next year.

“Already a quarter of the bank’s lending portfolio was in local currencies… looking to hit 30% by next year,”
— Dilma Rousseff, Former President of Brazil, Chair of the NDB

These moves represent a systematic unraveling of the dollar's global monopoly in trade and lending.

Trump Responds with Economic Nationalism and Tariff Warnings

Former President Donald Trump has repeatedly targeted BRICS, calling the group a threat to U.S. dominance and proposing tough tariffs to counter their rise. However, BRICS leaders remain unfazed.

“The world has changed. We don’t want an emperor. We are sovereign countries,”
— President Lula da Silva, Brazil

“At the moment the United States declares ‘America First,’ the BRICS are saying ‘we all come first,’”
— Pedro Costa Junior, International Relations Analyst

Trump’s comments and policies appear increasingly out of sync with the non-aligned multipolar strategy adopted by BRICS members.

BRICS Currency Systems and U.S. Structural Risk

The adoption of BRICS Cross-National Settlement Systems (BCNS) and local currency trade mechanisms is undermining the U.S. dollar’s 70-year reign in global commerce. Analysts warn this shift could trigger:

• Reduced global demand for U.S. Treasuries

• Higher inflation from import pricing volatility

• Erosion of American influence over international lending institutions

With ripple effects already visible in global trade patterns and central bank reserve allocations, BRICS is no longer a passive economic alliance — it is actively reshaping the global financial system.

@ Newshounds News™
Source: Watcher.Guru   

~~~~~~~~~

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“Tidbits From TNT” Tuesday 7-22-2025

TNT:

Tishwash:  The dinar is recovering and the exchange rate is declining towards the official rate.

 Samir Al-Nusairi

 For several months in 2025, the US dollar exchange rate has continued to decline against the Iraqi dinar, recovering by around 13 points.

It is expected to gradually decline to approach the official exchange rate during the coming period of this year, in accordance with the Central Bank's strategy and ongoing measures for comprehensive banking reform, regulating foreign trade financing, and transitioning to direct dealings between our banks and correspondent banks, in addition to complying with international banking standards.

Restricting the sale and distribution of cash dollars to a strict mechanism has been praised by the International Monetary Fund and the US Treasury as a successful and advanced method and application for controlling the stability of the US dollar exchange rate and keeping cash dollar sales to a minimum, thus preventing the circulation of the currency from being available for speculation in the parallel market.

To support the dinar's recovery, "we must look at the rate at which the Central Bank covers all external transactions, including imports and personal transfers.

 This explains price stability, given the current inflation rate, which is less than 2.5%, lower than the inflation rates in neighboring countries. This means that the Central Bank has achieved two basic monetary policy objectives: controlling exchange rates and curbing inflation."

This confirms that the wise monetary policy adopted by the Central Bank has contributed significantly to the stability of the exchange rate and the decline of the parallel market to the lowest possible level.

The Central Bank's insistence and cooperation with the government during the second half of the current year will lead to a gradual decline in the exchange rate of the US dollar, which has been stable for two days at the thirties and is moving towards the official exchange rate.  link

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

Tishwash:  A plan to connect the East and West of the world via Baghdad

The Ministry of Planning clarified, on Monday, that the Belt and Road Initiative launched by China is consistent and complementary to the development road project that Iraq has begun implementing, while pointing to a plan to link the Iran-Iraq railway to the Gulf, Eastern countries and Europe.

Ministry spokesman Abdul Zahra Al-Hindawi told the official agency, followed by Al-Eqtisad News: “The Belt and Road Initiative launched by China in 2013 is based on a network of roads and railways that connect the East to the West via main corridors and axes. Iraq is perhaps one of the main axes, taking into account that there is a railway linking China to Uzbekistan, then Pakistan and then Iran within this initiative.”

He added, "There is an idea to link the Iran-Iraq, Turkey, and Syria railway line with the Gulf, Eastern countries, and Europe," noting that "this idea is consistent with and complements the development road project that Iraq has begun implementing."

He explained that, "Under this vision, Iraq is considered an important global transportation hub, both on railways and by road, in addition to the services provided by the railway network, as well as those related to transporting passengers in record times, transporting goods and merchandise, and commercial shipping. This is important for Asian countries, the Levant, and trade with the West, as it saves a lot of time and costs, given that the roads are shortened by passing through Iraqi territory." link

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

Tishwash:  The US has stopped sending cash dollars to Iraq. Is this the beginning of a blockade?

Private sources confirmed that the United States has decided to completely halt cash dollar shipments to Iraq, a move described as potentially the beginning of a "financial blockade" on some Iraqi banks involved in currency smuggling and money laundering.

According to a source who spoke to Al-Mustaqilla on condition of anonymity, Washington's decision does not pertain to Iraq as a country, but rather targets specific banks suspected of involvement in suspicious dollar transfers to countries subject to international sanctions. This has angered the US Treasury, prompting it to tighten controls on dollar movement within the Iraqi market.

 Sudden drop in exchange rate after the decision

Remarkably, the US decision coincided with a significant decline in the dollar exchange rate in the Iraqi market. Experts interpreted this as a natural consequence of the restrictions on the circulation of cash and the prevention of its smuggling abroad. This led to an increase in supply in the local market and a temporary decline in its price.

Government shift towards “legal dollarization”

Separately, a banking source revealed that the Iraqi government has been relying on new mechanisms for disbursing salaries and conducting financial transactions for months. These mechanisms involve legal invoices processed through official banks and digital platforms linked to the global financial system. This is an alternative to the paper dollar shipments previously transported into the country by air.

The source indicated that this step represents a major shift in cash liquidity management in Iraq , making it difficult for suspicious entities to continue smuggling or manipulating the currency market.

Is this the beginning of the storm?

The US decision raises many questions about the future of dollar transactions in Iraq, especially in light of escalating regional tensions and Washington's tightening of financial sanctions. Are we witnessing the beginning of a new phase of international restrictions on the Iraqi economy? Or is this merely a technical measure against some violating banks?  link

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 7-22-25

Good Morning Dinar Recaps,

SBI Executive Declares XRP “Generational Wealth” as ETF Filings and Banking License Bid Fuel Momentum

With Ripple’s XRP trading near $3 and its market cap approaching $170 billion, institutional momentum appears to be reaching a turning point—driven by global adoption, SBI Group support, and upcoming ETF decisions.

SBI CEO: XRP Is “The Wealth Transfer of Our Generation”

Tomoya Asakura, CEO of SBI Global Asset Management, has made headlines by calling XRP “the wealth transfer of our generation.” In his recent remarks, Asakura emphasized that XRP’s adoption is expanding globally, especially among banks and financial institutions integrating Ripple’s payment technology.

The bullish outlook follows XRP’s latest surge, as the token’s price approached $3, lifting its market capitalization to nearly $170 billion, and outpacing broader crypto market performance.

Ripple Infrastructure Deepens with RLUSD and U.S. Banking License Efforts

Earlier this month, Ripple designated BNY Mellon as custodian for its RLUSD stablecoin, underscoring a coordinated push to establish a new global payments infrastructure using both RLUSD and XRP.

Ripple’s application for a U.S. banking license could be a game-changer. Asakura believes the move could trigger “a rapid increase” in XRP’s real-world utility and institutional adoption if approved. This is seen as part of a broader strategy to bridge retail and wholesale financial systems using Ripple’s technology stack.

SBI’s Strategic Alignment with Ripple

SBI is Ripple’s largest external investor, holding a 9% equity stake in the company. Its XRP-focused operations include:

• SBI VC Trade, offering XRP-based trading

• SBI Remit, enabling cross-border XRP remittances

• Running validator nodes on the XRP Ledger

• A new partnership with Aplus that lets users convert credit card points to XRP, expanding retail access

These initiatives reaffirm SBI’s long-term commitment to XRP as a cornerstone of its digital asset strategy.

ETF Speculation Builds as U.S. Regulatory Deadlines Approach

July is shaping up to be pivotal for XRP’s institutional trajectory, with multiple XRP ETF applications awaiting SEC response. If the agency allows the filings to proceed unchallenged, trading of XRP ETFs could begin within weeks.

Bitwise CEO Hunter Horsley added fuel to speculation, stating that Ripple could be evolving into an “XRP treasury company” as demand for strategic XRP exposure intensifies among funds and asset managers.

Institutional Thesis Strengthens

With Ripple’s banking ambitions, strong backing from SBI, a growing retail base in Asia, and potential ETF approval on the horizon, XRP is increasingly seen not just as a digital asset—but as a foundational layer in next-gen financial infrastructure.

As major institutions ramp up exposure and adoption, XRP’s long-term value narrative is transforming from speculation to systemic utility—with generational implications for wealth creation.

@ Newshounds News™
Source: CryptoPotato

~~~~~~~~~

JPMorgan Eyes Crypto-Backed Loans and Stablecoin Entry as CEO Softens Bitcoin Stance

Wall Street titan JPMorgan is exploring lending directly against crypto assets like Bitcoin and Ethereum, marking a significant shift in its approach to digital finance—while stablecoin ambitions begin to take shape.

JPMorgan’s Quiet Move into Crypto Lending

JPMorgan Chase is reportedly preparing to offer crypto-backed loans, potentially by 2026, according to the Financial Times. Citing unnamed sources, the report suggests that the bank may soon accept Bitcoin (BTC) and Ethereum (ETH) as collateral, positioning itself alongside other financial institutions beginning to embrace digital asset financing.

This move signals a growing institutional acceptance of crypto—not just as a speculative asset but as viable collateral within traditional lending frameworks.

Stablecoin Ambitions Confirmed

On July 15, during the bank’s Q2 earnings call, CEO Jamie Dimon said JPMorgan plans to participate in the stablecoin sector. Dimon emphasized the importance of understanding and mastering the technology behind these assets, signaling JPMorgan’s intention to compete in the emerging tokenized payments space.

This comes shortly after Citigroup revealed plans to issue its own stablecoin for payment applications, intensifying the race among major banks to develop blockchain-native financial instruments.

A Decade-Long Crypto Turnaround for Jamie Dimon

Dimon’s shifting perspective has been one of the more controversial narratives in finance. Key statements over the years include:

• 2017: Called Bitcoin a “fraud” and threatened to fire employees trading BTC

• 2018: Referred to crypto as a “scam”

• 2022: Labeled crypto “decentralized Ponzi schemes”, while praising blockchain and DeFi

• 2024–2025: Softened his tone, saying: “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy Bitcoin.”

Dimon’s recent comments appear to be a strategic pivot, aimed at aligning JPMorgan with evolving client expectations and a rapidly growing digital asset ecosystem.

Client Pressure and Competitive Risk

The Financial Times noted that Dimon’s past anti-crypto rhetoric alienated many high-net-worth and institutional clients—particularly those who gained their wealth in crypto or maintained strong long-term positions.

As JPMorgan’s competitors—like Citigroup, Fidelity, and BlackRock—advance in the digital asset space, the pressure to adapt appears to have driven JPMorgan to explore both stablecoin issuance and direct crypto lending services.

Final Word: Tradition Meets Tokenization

JPMorgan’s entrance into crypto-collateralized lending and stablecoin infrastructure development would represent a major milestone in the convergence of traditional banking and blockchain-based finance.

If implemented, this pivot could redefine JPMorgan’s role in the next evolution of capital markets—transitioning from vocal crypto skepticism to becoming a full-spectrum financial player in the Web3 economy.

@ Newshounds News™
Source: Cointelegraph

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Coinbase Launches CFTC-Regulated Perpetual Futures in U.S. as Regulatory Clarity Grows

Coinbase has officially brought perpetual futures trading to U.S. markets for the first time, marking a breakthrough in access and compliance amid the country's evolving digital asset regulation.

Perpetual Futures Now Available to U.S. Traders

Coinbase, the largest U.S.-based cryptocurrency exchange, has launched perpetual futures trading for American users. The initial offering includes:

• Nano Bitcoin Perpetual Futures (BTC)

• Nano Ethereum Perpetual Futures (ETH)

These new contracts come with 10x leverage and a 5-year expiration window, offering a long-term, flexible trading alternative compared to the typical monthly or quarterly expiry seen in traditional futures.

“For years, U.S. crypto traders have looked on as their international counterparts utilized one of the most popular tools in the digital asset marketplace: perpetual futures,” Coinbase said in its statement. “Until now.”

The products are regulated by the Commodity Futures Trading Commission (CFTC), ensuring legal compliance and opening the door for institutional and retail traders seeking regulated derivatives exposure within the United States.

Competitive Pricing and Strategic Flexibility

Coinbase is targeting both professional and retail futures traders with ultra-low trading fees starting at just 0.02% per contract.

The 5-year expiration structure is particularly notable—it allows U.S. traders to position themselves for long-term trends rather than being forced into short-term rollovers or expiries, making it ideal for macro-driven strategies.

Regulatory Green Light: GENIUS and Clarity Acts

This product rollout comes amid significant legislative momentum in Washington:

• The GENIUS Act was recently enacted, establishing a comprehensive regulatory framework for stablecoins and token issuers.

• The Clarity Act, passed by the U.S. House of Representatives, further defines regulatory jurisdiction between the SEC and CFTC, reducing ambiguity in crypto oversight.

These moves signal a long-awaited shift toward regulatory maturity in the U.S. digital asset space. Market sentiment has responded accordingly—Bitcoin and Ethereum prices have surged, along with major altcoins.

Market Reaction: Coinbase Hits New Highs

Coinbase's stock (COIN) surged to an all-time high above $437 last Friday, reaching a $100 billion market cap milestone.

Though shares dipped slightly by 1.47% on Monday, closing at $413.63, the exchange remains a top institutional proxy for crypto exposure amid the current bull cycle.

Conclusion:
Coinbase’s move to launch regulated perpetual futures for U.S. traders reflects the convergence of regulatory clarity and market demand. As the legal framework sharpens, products once limited to offshore platforms are now making their way into mainstream American finance—setting the stage for deeper liquidity and broader adoption.

@ Newshounds News™
Source: The Block

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U.S. Banking Groups Urge OCC to Delay Ripple, Circle, and Crypto Bank Licenses

Major U.S. banking associations are pushing back against the fast-tracking of national bank charters for crypto firms like Ripple, Circle, and Fidelity Digital Assets, citing transparency and regulatory concerns.

Banking Networks Push for Delay on Crypto Charters

On Thursday, several top U.S. banking trade groups — including the American Bankers Association — submitted a formal request urging the Office of the Comptroller of the Currency (OCC) to postpone banking license approvals for crypto firms.

The firms named include:

• Ripple Labs

• Circle Internet Group

• Fidelity Digital Assets

The groups claim the license applications lack sufficient detail for regulators and the public to properly assess the business models, operational risks, and fiduciary responsibilities of the applicants.

"Significant Policy and Legal Questions"

In their joint letter, the banking groups warned that these proposed crypto charters could blur regulatory boundaries and introduce material risk to the broader U.S. financial system.

“There are significant policy and legal questions as to whether the Applicants’ proposed business plans involve the types of fiduciary activities performed by national trust banks,” the letter stated.

The concern isn’t just about the applicants’ activities — but the precedent a rushed approval could set. The groups emphasized that the lack of public scrutiny over the applications undermines transparency and trust in the OCC’s chartering process.

Ripple, Circle Seek National Trust Bank Status

The banking licenses under review would allow these crypto firms to operate as national trust banks, bypassing state-by-state registration and giving them expanded authority to offer services such as custody, payments, and potentially lending.

This aligns with Ripple’s broader plan, as the company recently applied for a national banking license in the U.S. and has pushed for institutional adoption of XRP and RLUSD-backed payment solutions.

GENIUS Act Drives Institutional Crypto Ambitions

Analysts say the regulatory pushback is partly a response to the momentum generated by the GENIUS Act, which was recently passed into law and establishes a formal framework for stablecoin issuance and custody.

As a result, more crypto firms are expected to apply for national bank charters, aiming to scale operations in the U.S. under a unified federal framework.

Logan Payne, crypto attorney at Winston & Strawn, noted: “This charter license would allow crypto firms to engage in a wider range of activities without the need for state-to-state licenses.”

Conclusion

As U.S. regulators race to establish clear digital asset frameworks, traditional banking networks are urging caution. The battle over banking licenses for Ripple and Circle highlights the tug-of-war between innovation and oversight in the evolving U.S. crypto landscape.

@ Newshounds News™
Source: Coinpedia   

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MilitiaMan and Crew: Iraq Dinar News-The Future of the Iraqi Dinar-Where we today?

MilitiaMan and Crew:  Iraq Dinar News-The Future of the Iraqi Dinar-Where we today?

7-21-2025

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

Welcome to our latest video where we dive deep into the current state of the Iraqi Dinar and the Iraqi government's commitment to fulfilling its financial obligations amidst a rapidly changing economic landscape.

In this video, we explore: Iraq's Financial Stability:

What does the Iraqi government’s commitment mean for the future of the dinar?

We discuss the steps being taken to ensure economic stability and growth.

Erbil-Baghdad Salary Talks: Join us as we analyze the ongoing discussions between Erbil and Baghdad regarding salary payments. What are the implications for public sector employees and the overall economy?

Turkey's Termination of Oil Pipeline Agreement: We examine the recent decision by Turkey to terminate the oil pipeline agreement with Iraq. What does this mean for oil exports and revenue generation for the Iraqi government?

Pavel Talabani's Role: Learn about the influential role of Pavel Talabani in shaping Iraq's financial policies and how his leadership is impacting the current economic climate.

Parliamentary Finance Committee Insights: We provide insights from the Parliamentary Finance Committee regarding fiscal policies and their implications for the Iraqi Dinar's value

 US Ending Cash Dollar Transfers to Iraq: Finally, we discuss the significant move by the United States to end cash dollar transfers to Iraq. What are the potential effects on Iraq's economy and the dinar's exchange rate?

 Join us for an in-depth analysis of these critical topics and stay informed about the future of Iraq’s economy! Don’t forget to like, subscribe, and hit the notification bell for more updates on global finance and economic trends!

https://www.youtube.com/watch?v=IwBoGv5AjXM

This Signal Crashed Stocks Before, it Just Triggered again

This Signal Crashed Stocks Before, it Just Triggered again

Steven Van Metre:  7-20-2025

The video provides an in-depth analysis of the current state of the US equity markets, highlighting major warning signs of a potential correction or bubble burst.

 Drawing heavily on recent insights from Bank of America (BofA) strategist Michael Hartner, the discussion centers on three triggered sell signals in US equities: the fund manager cash rule, the global breadth roll, and the global flow trading rule.

These signals reflect the market’s extreme positioning, low breadth, and diminishing inflows, all of which historically precede significant downturns.

The video also explains the market’s current valuation levels relative to past bubbles, inflation concerns, bond yield movements, and the risks associated with concentrated holdings in mega-cap stocks.

Despite positive momentum and machine positioning signals suggesting short-term strength, divergences in market breadth and technical indicators warn of looming negative price action.

The analysis extends to specific sectors, notably energy and gold miners, which present bearish technical setups despite positive headlines. Conversely, emerging markets show promising trade setups with tight risk control recommended.

The dollar is positioned for a potential rally, with the presenter advocating a contrarian short-Euro trade to capitalize on this. Overall, while momentum remains positive, the video stresses the importance of risk management, caution in overexposed sectors, and preparation for a possible major correction or bear market phase.

This comprehensive market analysis outlines a fragile equity environment marked by historically rare sell signals, deteriorating breadth, and stretched valuations.

 While short-term momentum remains positive, underlying technical and flow-based indicators warn of a pending correction or significant bear market.

 Sector-specific assessments reveal mixed signals, with energy and gold miners showing vulnerability, and emerging markets offering controlled opportunities.

The US dollar and Euro currency positions present compelling contrarian trades tied to shifts in global capital flows. Given these complexities, disciplined risk management, use of advanced trading models, and a cautious approach to exposure are essential for navigating the current market landscape.

https://youtu.be/2PMBXjRLl2A

Iraq Economic News and Points To Ponder Monday Afternoon 7-21-25

Al-Sudani Receives The Commander Of The US Central Command

Buratha News Agency14020  25-07-21   Prime Minister and Commander-in-Chief of the Armed Forces, Mohammed Shia al-Sudani, received today, Monday, July 21, 2025, Commander of the US Central Command, General Michael Kurilla, and the accompanying delegation, in the presence of the Chargé d'Affaires at the US Embassy, Steve Fagin.

A statement from the Prime Minister's Office stated that Al-Sudani "at the beginning of the meeting welcomed the delegation, which included the new commander of the international coalition forces to fight terrorism in Iraq and Syria, Brigadier General Kevin Lambert, and the former commander of the coalition, General Kevin Leahy."

During the meeting, according to the statement, "the cooperation relations between Iraq and the international coalition, the stages of its development, and preparations for the transition to bilateral security relations with coalition countries were reviewed. The meeting also discussed the work of the joint high committee between Iraq and the United States, security cooperation and coordination, and developments in Syria and their repercussions for regional security."

The Prime Minister stressed "the importance of imposing stability, avoiding the causes of conflict expansion, respecting the sovereignty of states, based on UN charters, international resolutions, dialogues, and understandings, and activating diplomatic activities and cooperation to consolidate security and stability in the region."   https://burathanews.com/arabic/news/463090

The Minister Of Planning Arrives In New York To Participate In The United Nations High-Level Forum On Sustainable Development.

Monday, July 21, 2025 | Economic Number of reads: 167  Baghdad / NINA / Deputy Prime Minister and Minister of Planning, Mohammed Ali Tamim, arrived in New York on Monday, heading a high-level official delegation, to represent Iraq at the High-level Political Forum on Sustainable Development, which is being held at the United Nations headquarters, from July 21-24, with the participation of leaders and representatives of member states.

In addition to the Iraqi delegation, the Minister heads, according to a statement by the Ministry, the delegations of the Group of 77 and China and the Arab Group in this important international forum, which discusses the paths to implementing the goals of the 2030 Agenda for Sustainable Development, and the challenges facing developing countries in achieving these goals, especially in light of the multiple global crises.

It is hoped that the Minister will hold a number of bilateral and official meetings during his participation in the forum, with his counterparts and representatives of countries and international organizations, to discuss ways of cooperation, transfer of experiences and expertise, and strengthening Iraq's position on the regional and global development map.

The forum will also witness the presentation of the third voluntary report on sustainable development in Iraq, which will address the steps taken towards achieving the development goals. / https://ninanews.com/Website/News/Details?key=1242017

What Solutions Are Available To Iraq After Türkiye Canceled The 1973 Oil Agreement? An Expert Reveals.

Time: 2025/07/21 16:56:29 Reading: 465 times  {Politics: Al Furat News} Legal expert Ali Al Tamimi revealed that Turkey's cancellation of the 1973 agreement allowing Iraqi oil exports through its territory poses a legal and strategic challenge to Iraq, while noting that the agreement itself includes clear mechanisms for resolving disputes between the two parties.

Al-Tamimi said in a statement to {Euphrates News} that: “The agreement of August 27, 1973, is an important economic and political cooperation charter between Iraq and Turkey, as it provided a safe route for transporting Iraqi oil to global markets through pipelines that were exposed to numerous terrorist attacks in recent years.”

He added, “The agreement was amended in several years, including 1976, 1980, 1981, 1985, 1996 and 2007, and was legally ratified by Iraq under Law No. 4 of 2011, while the agreement was unilaterally cancelled by the Turkish side.”

Regarding legal solutions, Al-Tamimi explained that "Article 10 of the agreement stipulates that any dispute between the two parties shall be resolved through amicable settlement within a period of four months. If negotiations do not lead to a solution, the dispute shall be referred to international arbitration at the Paris Club in France."

He added, "The arbitration panel consists of three arbitrators: one appointed by Iraq and the other by Turkey. If the third arbitrator cannot be appointed, the President of the International Chamber of Arbitration in Paris will be responsible for appointing him." He noted that "arbitration is based on French law and the French language, and issues a binding and final decision for both parties without the possibility of appeal."

Al-Tamimi concluded by saying, "Arbitration costs and fees are determined by the arbitration committee in accordance with the tariff issued by the arbitration chamber and in accordance with international arbitration laws. This provides a clear legal framework for Iraq to address the challenges resulting from the Turkish side's cancellation of the agreement."   LINK

Parliament's Finance Committee Discusses The Establishment Of The "Primary Rafidain Bank"

Banks -  The Finance Committee of the House of Representatives announced, on Monday, the main topics of its hosting of the Director General of Rafidain Bank.

In a speech during the hosting of the Director General of Rafidain Bank, the Committee Chairman, Atwan Al-Atwani, said, "The Finance Committee hosted the Director General of Rafidain Bank, Ali Karim Hussein, to shed light on the bank's activities and discuss some questions regarding the establishment of (the first Rafidain Bank), which is perhaps a borrowing from the current Rafidain Bank, as observations were recorded on the contracts and initial proposals for proceeding with this project."

He added, "Banks receive great attention due to their close relationship with the economic and financial system and their role in achieving development. They also receive special attention from the Finance Committee, given that the integration project between the government and the legislative authority, especially with regard to financial consolidation, financial documents, and sustainable development, represents a key focus."

He explained, "The soundness of banks and the creation of a suitable environment for attracting capital enhance confidence, especially when banks have a high level of transparency, dealing, and digital transformation, which is highly relied upon as an important link in simplifying procedures."

He pointed out that "sustainable development is achieved through the role of banks in investing funds and deposits, managing withdrawals, implementing projects, and providing loans, whether at the level of advances to employees or at the level of loans related to housing and various economic projects." https://economy-news.net/content.php?id=57698

Oil Price Stability

Time: 2025/07/21 08:20:35 Reading: 375 times  {Economic: Al Furat News} Oil prices were little changed on Monday as traders anticipated the impact of new European sanctions on Russian oil supplies, rising output from Middle Eastern producers, and concerns about the fuel outlook amid the impact of tariffs on global economic growth.

By 03:44 GMT, Brent crude futures rose six cents to $69.34 a barrel, after settling down 0.35% on Friday. U.S. West Texas Intermediate crude rose 17 cents to $67.51 a barrel, after falling 0.30% in the previous session.

The European Union on Friday approved its 18th package of sanctions against Russia over the conflict in Ukraine, which also targets India's Nayara Energy, an exporter of refined petroleum products from Russian crude.  LINK

A Plan To Connect The East And West Of The World Via Baghdad

Local   The Ministry of Planning clarified, on Monday, that the Belt and Road Initiative launched by China is consistent and complementary to the development road project that Iraq has begun implementing, while pointing to a plan to link the Iran-Iraq railway to the Gulf, Eastern countries and Europe.

Ministry spokesman Abdul Zahra Al-Hindawi told the official agency, followed by Al-Eqtisad News:

“The Belt and Road Initiative launched by China in 2013 is based on a network of roads and railways that connect the East to the West via main corridors and axes. Iraq is perhaps one of the main axes, taking into account that there is a railway linking China to Uzbekistan, then Pakistan and then Iran within this initiative.”

He added, "There is an idea to link the Iran-Iraq, Turkey, and Syria railway line with the Gulf, Eastern countries, and Europe," noting that "this idea is consistent with and complements the development road project that Iraq has begun implementing."

He explained that, "Under this vision, Iraq is considered an important global transportation hub, both on railways and by road, in addition to the services provided by the railway network, as well as those related to transporting passengers in record times, transporting goods and merchandise, and commercial shipping. This is important for Asian countries, the Levant, and trade with the West, as it saves a lot of time and costs, given that the roads are shortened by passing through Iraqi territory."
https://economy-news.net/content.php?id=57708

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

Seeds of Wisdom RV and Economic Updates Monday Afternoon 7-21-25

Good Afternoon Dinar Recaps,

China’s U.S. Treasury Holdings Fall to Lowest Level Since 2009

Third straight month of reductions fuels concern over shifting global debt dynamics and rising de-dollarization pressures

China has continued to reduce its holdings of U.S. Treasury securities, with May’s data showing a new low of $756.3 billion—the lowest level since March 2009, according to the latest release from the U.S. Treasury Department.

This marks the third consecutive monthly decline and is seen by some analysts as more than a technical adjustment—possibly signaling a strategic policy shift amid escalating trade tensions, debt concerns, and geopolitical realignment.

A Subtle but Steady Trend

In May, China offloaded nearly $1 billion in U.S. debt. While this figure may appear modest in isolation, it follows two months of much larger sell-offs:

• March 2025: China reduced its U.S. Treasury exposure by $19 billion

• April 2025: An additional $8.2 billion was sold

The cumulative effect of these reductions places China behind Japan and the United Kingdom in the ranking of top foreign holders of U.S. debt.

Though China still maintains a sizable $756.3 billion in U.S. Treasuries, the downward trajectory raises questions about long-term intentions. Chinese analysts have openly recommended diversifying away from U.S. debt in favor of more secure and less politically vulnerable stores of value—namely gold and strategic commodities.

Trade Tensions, Trust Erosion, and Debt Realignment

The Treasury data arrives as the U.S.–China relationship remains strained. The Trump administration’s protectionist trade policies, combined with sanctions and technology restrictions, may be driving China to reduce its exposure to American assets as a hedge against potential economic retaliation.

Notably, while some Western observers argue this reduction does not yet amount to full-scale "weaponization" of U.S. debt, others see it as part of a longer-term de-dollarization effort, aligning with moves from BRICS nations to build alternative trade and payment systems.

“Even if symbolic, these moves reflect a structural shift,” said one analyst. “Foreign confidence in U.S. fiscal governance is clearly under stress.”

This broader trend is evident in the declining role of foreign buyers in the U.S. Treasury market:

• In 2008, foreign investors held 57% of total U.S. Treasury issuance

• By 2025, that figure has dropped to 32%

This shift places greater pressure on domestic buyers and Federal Reserve interventions to absorb U.S. debt, as trust in the long-term sustainability of U.S. borrowing weakens.

Gold and Safe Havens Gain Appeal

In response to volatility in dollar-denominated debt, Chinese policymakers and economists are increasingly advising the accumulation of gold and hard commodities as a defensive hedge.

This aligns with broader macroeconomic strategies pursued by China and other BRICS+ nations to reduce dependence on Western financial systems, especially amid rising concerns over sanctions and dollar weaponization.

Global Implications: Trust in U.S. Debt Wavers

The slow but consistent offloading of Treasuries by China signals a deeper crack in the post-Bretton Woods financial order. While the moves are still modest compared to total U.S. debt issuance, the message is strategic: global debt holders are rethinking their allocations in light of evolving geopolitics, inflation risks, and a ballooning U.S. fiscal deficit.

Should this trend accelerate, it may challenge U.S. borrowing capacity, interest rate stability, and the global role of the dollar, particularly if joined by other major debt holders.

@ Newshounds News™
Source: Bitcoin.com

~~~~~~~~~

India’s Wealthy Investors Pivot to Crypto as Bitcoin Outshines Traditional Assets

High-net-worth individuals (HNIs) and family offices in India are accelerating their shift from stocks and gold into digital assets, amid surging Bitcoin prices and renewed global crypto confidence.

India’s top cryptocurrency platforms are seeing a spike in institutional and HNI activity, as traditional asset classes underperform and crypto markets roar ahead. The renewed interest follows Bitcoin’s rally past $120,000, delivering 90%+ returns over the past year, making crypto investments increasingly competitive with equities, bonds, and gold.

A Surge in HNI Participation

A report from Moneycontrol notes a 30% weekly rise in HNI trading volume on Mudrex, crossing the $10 million threshold. CoinDCX also reported a 25–30% increase in average trade size by wealthy investors in July.

Between January and June, over 3,500 HNIs, family offices, and institutional entities accounted for nearly 50% of CoinDCX’s total trading volume. Their average monthly trading now exceeds ₹50 lakh ($60,000+ USD).

“HNIs are no longer asking why crypto,” said CoinSwitch co-founder Ashish Singhal. “The question now is how much to invest and where.”

Institutional Interest in Blue-Chips; Retail Fuels the Rally

While HNIs prefer large-cap cryptocurrencies like Bitcoin, Ethereum, Solana, and XRP, it’s the retail segment that’s driving daily trading momentum.

• CoinSwitch saw a 3x increase in daily trading volume

• CoinDCX posted a 40% jump in daily activity in July, topping $12.82 million

• Mudrex saw a 102% surge in spot trading and a 200% spike in futures trading in just one week

• ZebPay reported that 60% of user activity leaned toward buying

Interestingly, meme coins like Doge, PEPE, and Shiba Inu contributed to more than half of Mudrex’s trade volume, signaling continued speculative interest even amid growing institutional adoption.

Trump’s Return and Macro Tailwinds

Industry observers cite the return of Donald Trump to the White House as a confidence catalyst for crypto markets globally. With Trump expected to adopt pro-crypto regulatory positions, both institutional and retail investors appear to be front-running favorable policy shifts.

Tax and Regulatory Uncertainty Still a Drag

Despite the bullish momentum, India’s tax regime—which includes a 30% flat tax on crypto gains and 1% TDS on every trade—remains a significant deterrent, particularly for retail participants.

Experts emphasize that regulatory clarity and tax reform could unlock far greater participation across all investor classes.

Bitcoin Rally Sparks Inflows of $150M+

Between July 10 and July 15, when Bitcoin crossed $116,000, analysts estimate that $150 million to $200 million was invested into the Indian crypto market.

Analysts now forecast Bitcoin to reach between $140,000 and $185,000 by year-end, further fueling allocation interest from India’s growing base of HNIs and institutions.

As India’s wealthiest investors increasingly view crypto as a strategic and necessary allocation, the asset class is quickly graduating from speculation to mainstream adoption. All eyes now turn to regulatory developments—and whether India’s policy approach will catalyze or constrain this emerging shift.

@ Newshounds News™
Source: Coinpedia   

~~~~~~~~~

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“Tidbits From TNT” Monday 7-21-2025

TNT:

Tishwash:  The World Gold Council expects the precious metal to rise by 5% this year. 

The World Gold Council forecast on Saturday that gold prices will rise by 5% in the second half of 2025.

The council stated in a report reviewed by Shafaq News Agency that gold continued its record rise, rising 26% in US dollars in the first half of 2025, achieving double-digit returns across various currencies.

He added that the weak US dollar, limited interest rates, and a highly uncertain geoeconomic environment led to strong investment demand.

The council expects gold prices to rise by an additional 0% to 5% in the second half of 2025. However, economic performance rarely matches expectations. What if economic and financial conditions deteriorate, exacerbating inflationary pressures and geoeconomic tensions?

He pointed out that demand for safe havens increases significantly in times of geoeconomic uncertainty, pushing gold prices up by 10% to 15%.

On the other hand, a widespread and sustainable resolution of conflicts—something that seems unlikely under current circumstances—could cause gold to lose between 12% and 17% of its gains this year.  link

Tishwash:  An upcoming meeting between Erbil and Baghdad to discuss the mechanism for implementing the salary agreement is scheduled for tomorrow.

Technical delegations representing the Kurdistan Regional Government and the federal government are scheduled to hold their first meeting in Baghdad tomorrow, Tuesday, to agree on a mechanism for implementing the agreement signed between them regarding oil exports, salaries, and local revenues. The aim is to reach an understanding and disburse salaries and financial dues to the region.

On Monday, Al-Jabal platform learned from a government source details of a report prepared by the joint committee between the Iraqi Ministry of Oil and the State Oil Marketing Organization (SOMO), which will be submitted to the Ministry of Oil and Prime Minister Mohammed Shia al-Sudani. The report stated that "the Kurdistan Region currently has an estimated production capacity of less than 81,000 barrels of oil per day."

Last Thursday, a joint technical committee from the Iraqi Ministry of Oil and the State Oil Marketing Organization (SOMO) visited Erbil for four days, visiting the fields that were attacked by drones. The committee also prepared its own report on procedures for resuming oil exports.

The committee stated in its report: "Since the 16th of this month, oil production capacity in the Kurdistan Region has decreased to 81,000 barrels per day due to drone attacks."

One of the points of agreement between Erbil and Baghdad was the allocation of 50,000 barrels of oil per day to meet the region's domestic needs. The Kurdistan Region's production capacity was 280,000 barrels per day before the drone attacks.

Operations at five oil fields have now been halted following drone attacks targeting Kurdistan's energy infrastructure in recent weeks, while operations at other fields have been restricted for security reasons. link

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

Tishwash:  Iraq is among the "richest Arab countries," but its wealth is far removed from the "realities of the people" - Urgent

 Despite recently being ranked among the richest Arab countries in terms of resources and revenues, the Iraqi economy remains stuck between the duality of "wealth" and "mismanagement." This gap exists between GDP figures and the reality of citizens, who live under the burden of faltering services and unequal distribution of wealth.

In this regard, economic expert Rashid Al-Saadi confirmed today, Sunday (July 20, 2025), that Iraq's inclusion on the list of the richest Arab nations is an indicator of an improvement in some general economic indicators, but it does not necessarily mean that this wealth is reflected in the lives of citizens or their level of well-being.

Al-Saadi told Baghdad Today, "Iraq's position among the richest Arab nations indicates an improvement in the general economic indicators commonly used to determine the wealth of countries or peoples, such as per capita GDP, an indicator used to measure average income. Iraq also possesses one of the largest oil reserves in the world, which enhances its economic potential."

For decades, Iraq has been ranked among the most capable oil-producing countries in terms of natural reserves and wealth. However, this ranking often clashes with the realities of administrative and financial corruption and weak economic diversification. These factors have thus far prevented these resources from being translated into a standard of living commensurate with the country's capabilities.

He added, "Iraq's ranking among the richest nations does not necessarily mean that all citizens live in luxury. Rather, the country possesses significant resources and capabilities that enable it to achieve significant economic growth. However, these riches do not always directly reflect on people's lives unless genuine reforms are adopted that ensure transparency and integrity in the management of public funds and combat administrative and financial corruption, which is one of the greatest obstacles to development."

Al-Saadi explained that "the Iraqi economy is in dire need of diversifying its sources of income. Over-reliance on oil makes the economy vulnerable to global market fluctuations. This requires supporting other sectors, such as agriculture, industry, tourism, and information technology, to ensure sustainable growth and achieve balanced development."

Al-Saadi concluded his remarks by saying, "Iraq's ranking among the richest nations represents an opportunity and a positive sign for the future of the national economy, but it alone is not enough. The real challenge lies in translating this wealth into a tangible reality that reflects the well-being of citizens through sound governance, clear development plans, and a long-term strategic vision that achieves stability and sustainable growth."

Economic visions agree that international rankings do not necessarily reflect the well-being of people. Rather, they are sometimes linked to raw figures, such as gross domestic product and energy reserves, without considering how these resources are managed or their actual impact on citizens' lives.  link

Mot:  . Aaaahhhhhh -- hmmmmmmmmmmmm!!!!  

Mot: . NOT Quite What I Thought the ""RV"" Was Going to Beeeee!!! – siigghhhhh 

Iraq Economic News and Points To Ponder Late Sunday Evening 7-20-25

The Dollar Continues To Bleed On The Local Stock Exchange.

Stock Exchange  The US dollar exchange rate fell on Sunday in the markets of the capital, Baghdad, and Erbil.  The dollar price fell on the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 140,350 Iraqi dinars for every $100, while it had recorded 140,700 dinars for every $100 yesterday, Saturday. 

Selling prices at exchange offices in local markets in Baghdad also declined, with the selling price reaching 141,250 dinars for every $100, and the buying price reaching 139,250 dinars.
In Erbil, the dollar also declined, with the selling price reaching 140,050 dinars for every $100, and the buying price reaching 139,950 dinars.   https://economy-news.net/content.php?id=57628

The Minister Of Finance Reassures Parliament: The Government Is Seeking To Submit The Budget Schedules As Soon As Possible.

Sunday, July 20, 2025, | Economic Number of reads: 158  Baghdad / NINA / Finance Minister Taif Sami revealed the reasons for the delay in sending the 2025 budget tables to the Council of Representatives.

Sami confirmed, during a joint meeting with the Parliamentary Finance Committee today, Sunday, that the government is seeking to send it as soon as possible, noting the importance of ending the financial dispute between the federal government and the regional government.

Sami added, "The ministry has made great strides in restructuring government banks and implementing the comprehensive banking system, in addition to implementing the POS system and electronic payment, and expanding various banking services under the supervision of the Central Bank."

Regarding the tax file and customs automation, the Minister of Finance explained that "non-oil revenues generated from customs exceeded 2 trillion dinars, a percentage of which reaches the governorates."

The Parliamentary Finance Committee held a joint meeting with Finance Minister Taif Sami on Sunday to discuss the government program, mechanisms for implementing the general budget, and the 2025 budget schedules.

The meeting also touched on the financial management system and the mechanism for including project financing in the governorates within the 2023 and 2024 budgets, as well as discussing data related to financial financing, ways to bridge the budget deficit, and sovereign guarantees, in addition to studying appropriate solutions to maximize revenues. https://ninanews.com/Website/News/Details?Key=1241892

Abu Raghif: Digital Data Security Is A Priority
July 20, 2025  Abu Raghif: Digital data security is a national priority that requires cooperation

Baghdad - Nada Shawkat  Chairman of the Communications and Media Commission, Nawfal Abu Raghif, affirmed that digital data security represents the first line of defense for Iraq's digital sovereignty. He emphasized that protecting global positioning services (GPS) from any exploitation or leakage requires high-level coordination between relevant institutions and the private sector to confront escalating cyber threats.

A statement received by Al-Zaman yesterday said that "Abu Raghif chaired an expanded regulatory meeting with the main companies providing global positioning services in Iraq, in the presence of Chairman of the Board of Commissioners, Blassam Salem, and Board member, Aws Al-Awadi, within the framework of the regulatory vision adopted by the Commission to control the positioning services sector and ensure its consistency with national and international standards."

Strengthening Sovereignty

He added that (he reviewed the regulatory frameworks approved by the Authority to provide services accurately and efficiently, in a way that contributes to strengthening national sovereignty and protecting the country’s digital infrastructure, while affirming the commitment of operating companies to digital governance controls and applicable legal procedures).

Abu Raghif stressed (the necessity of protecting positioning data and users’ locations from leakage or exploitation, and ensuring their use within legitimate frameworks only, by adopting modern oversight systems, and providing a fortified cyber environment through coordinating efforts between the public and private sectors), calling for (removing bureaucratic obstacles facing service providers, and developing institutional communication channels, which contributes to raising performance efficiency and enhancing mutual trust between the Authority and operating companies).

The statement indicated that (the meeting discussed mechanisms for licensing and importing devices related to positioning services, and subjecting them to audit procedures under the supervision of the competent authorities, to control technical performance and limit use within the legal framework, while opening the way for sound investment initiatives in accordance with technical and legislative controls).

The statement continued that (the meeting stressed the importance of developing monitoring and tracking tools to detect any illegal uses of services).

Positioning, especially with regard to smuggling, espionage, or illegal transportation operations, especially since these files fall within the priorities of digital sovereignty and require the highest levels of coordination between the Authority and the relevant authorities.  LINK

Iraq Announces A Qualitative Leap In Gas And Renewable Energy Investment.

Energy  Economy News – Baghdad  The National Team for Renewable Energy Projects at the Prime Minister's Office confirmed on Sunday that Iraq has achieved a qualitative leap in gas and renewable energy investment, while noting the commencement of solar energy projects in the garages of eight ministries.

Naseer Karim Qasim, head of the National Team for Renewable Energy Projects at the Prime Minister's Office, said, "The energy sector in Iraq has witnessed significant developments in recent times, including expansion in gas and renewable energy investments and strengthening infrastructure."

He pointed out that "the percentage of flared gas investment rose to 68 percent, compared to 57 percent previously, and dry gas production increased to 1,700 cubic meters per day, which contributed to increasing refining capacity, in addition to developing gas and oil transport networks and connecting them to power plants."

He added that "government efforts included expanding the use of the electronic payment system at gas stations and activating development contracts for 18 exploration blocks and oil and gas fields."

In the field of renewable energy, Qasim explained that "the government is implementing an integrated strategy that includes the establishment of major generation projects, including the 1,000-megawatt Artawi plant currently under construction, the 525-megawatt Karbala and Alexandria plants, in addition to the 750-megawatt Muthanna investment plant, in addition to other projects under contract."

He explained that "the second axis of the strategy focuses on smart and rapid solutions, by deploying solar energy systems on rooftops and connecting them to distribution networks, and establishing medium-capacity stations around cities to connect them to medium voltage."

He pointed out that "the Cabinet voted on several decisions related to these projects, while the governorates have begun allocating the necessary land for them.

The first phase includes a pioneering project at the Government Palace with a capacity of 2 megawatts, consisting of a sophisticated parking lot with a capacity of 500 cars, which was completed in 40 days through cooperation between the public and private sectors."

He continued, "The Prime Minister directed that the Government Palace power plant be expanded to other ministries. Implementation of the project has begun in eight ministries, and similar projects are being implemented at border crossings with a capacity of 50 megawatts." https://economy-news.net/content.php?id=57654

Statistics: Iraq's Oil Exports To The US Rise
Economy | 07/20/2025  Mawazine News - Follow-up  The US Energy Information Administration announced on Sunday an increase in Iraqi oil exports to the US during the past week.

The administration said in its statistics that "the average US imports of crude oil during the past week from eight major countries reached an average of 5.623 million barrels per day, an increase of 207 thousand barrels per day compared to the previous week, which reached an average of 5.416 million barrels per day."

It added that "Iraqi oil exports to the US reached an average of 314 thousand barrels per day, an increase of 150 thousand barrels per day compared to the previous week, which reached an average of 164 thousand barrels per day."

It continued, "The largest oil revenues to the US during the past week came from Canada, at an average of 3.339 million barrels per day, followed by Saudi Arabia at an average of 523 thousand barrels per day, followed by Mexico at an average of 372 thousand barrels, Colombia at an average of 345 thousand barrels per day, and Brazil at an average of 253 thousand barrels per day." https://www.mawazin.net/Details.aspx?jimare=264019

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