Iraq Economic News and Points To Ponder Wednesday Morning 7-23-25

The Dollar Approaches The Official Rate: A Real Reform Or A Temporary Trick?
 
July 22, 2025 Last updated: July 22, 2025   Al-Mustaqilla/- In a move that suggests a "shift" in the government's policy toward the dollar crisis,  Mazhar Mohammed Saleh, the financial advisor to Prime Minister Mohammed Shia al-Sudani,  revealed five factors that he said  would lead to narrowing the gap between the official and parallel rates, paving the way for what he described as a "matching" phase between the two rates.

But the most important question is:
     Is what is happening real reform?
     Or is it merely "economic makeup" that masks a fragile reality?
 
The official exchange rate,  set by the Central Bank at 132,000 dinars per $100,  is now approaching the parallel market rate of 139,000 dinars.
 
This decline is viewed by some as a positive sign, while others view it as a  "politicized" and  temporary move to calm the street  ahead of upcoming political and economic events.
 
Five factors or five pressure cards?
 
The government's primary consideration is preventing dollarization,   particularly in the real estate sector.
 
While this may sound like a good move in theory,
it raises questions about its implementation in a market teeming with informal transactions.
 
The second factor relates to transfers via global correspondent banks after the central bank window closed.
 
However, observers question:
     Are these transfers truly available to everyone,
     or are they restricted to specific names and companies?
 
The third factor is the entry of small traders into the official transfer window,
a step whose effectiveness on the ground is questioned by many due to the red tape and bureaucracy.
 
The fourth factor revolves around the expanding use of electronic cards, a move that is hampered by  technical infrastructure and a  deeply ingrained cash culture.
 
The fifth factor relates to what the government calls "price defense" through cooperatives,   a policy that could return Iraq to the era of "ration cards,"amid doubts about its sustainability.
 
Is the difference really less than 4%?
 
Advisor Saleh's statements that the difference between the two rates has become "merely a transaction cost" open the door to a broad economic debate:
 
Can we speak of "convergence" while the parallel market persists?
Have the dollar mafias truly been eliminated?
Or have their positions merely shifted?

In conclusion: appeasement or radical treatment?
 
Achieving a unified exchange rate is a legitimate popular and economic demand.
 
However, without a comprehensive reform of the financial system, increased transparency in transfers, and ensuring fairness in cash distribution, any decline in the parallel market may prove to be nothing more than a "warrior's rest" before another explosion.     https://mustaqila.com/الدولار-يقترب-من-الرسمي-إصلاح-حقيقي-أم/    

America Is Choking Off The Dollar In Iraq... And The Central Bank Is Distributing It Only To "Close Associates"!
 
July 22, 2025 Al-Mustaqilla/- A source said that the  Iraqi market is currently witnessing a severe shortage of cash dollars, as a result of what he described as a “well-considered” move by the Central Bank of Iraq,  
which decided to restrict dollar transactions to a limited number of private and government banks,  
while preventing or restricting the flow of hard currency to exchange offices and open markets.
 
According to the source, who spoke to Al-Mustaqilla on condition of anonymity,  this measure is an extension of a previous US decision to halt cash dollar transfers to Iraq.
 
This decision is part of a regulatory effort aimed at controlling the flow of currency and  preventing smuggling and money laundering, particularly after Washington identified Iraqi financial networks involved in suspicious transfers to countries subject to sanctions.
 
Dollar shortage crisis in the market:
 
The absence of cash dollars from the market has opened the door to a stifling liquidity crisis,
     leading to a decline in actual demand for the US currency and
     contributing to a depreciation of the exchange rate on the parallel market.
 
Yesterday, the dollar exchange rate recorded a significant decline,  reaching 139,000 dinars for every $100,  compared to previous levels of more than 143,000 dinars.
 
However, this "drop" in price does not reflect economic improvement as much as it indicates a shortage of supply and a  contraction in commercial activity in hard currency,
at a time when a  large segment of traders are turning to the Iraqi dinar in the absence of the dollar.
 
Dimensions of the American decision:
 
Washington's decision to halt the dollar exchange rate, while not officially announced as a punitive measure, is part of a series of pressures exerted by the US Treasury on Baghdad to regulate the financial and banking sectors and  prevent the flow of dollars to countries such as Iran, Syria, and Lebanon.
 
These pressures have resulted in the inclusion of Iraqi banks on watch lists, the imposition of strict restrictions on foreign transfers, and a reduction in the dollar cash quota previously sent by air to Baghdad.

Are we facing a "dollar drying up" phase in Iraq?
 
The facts indicate that Iraq has actually begun to enter a phase that can be called the “drying up of the cash dollar,”   a tactic with two objectives:
 
         Internally: controlling the market and regulating the use of foreign currency.
         Externally: appeasing Washington and avoiding sanctions or negative financial ratings. However,
 
this approach requires  radical reforms in the banking system and  ensuring comprehensive financial coverage for citizens.
 
Otherwise, the shortage could turn into a broader crisis that would  disrupt the economy and return the market to a state of chaos and confidence in the currency.    https://mustaqila.com/الدولار-في-العراق/  

The US Has Stopped Sending Cash Dollars To Iraq. Is This The Beginning Of A Blockade?
 July 21, 2025  Al-Mustaqillah/- 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? https://mustaqila.com/أمريكا-توقف-إرسال-الدولار-النقدي-إلى-ا/  

Source: New Digital Bank In Iraq Threatened With International Sanctions Over Money Laundering
 
July 21, 2025  Al-Mustaqilla/- An informed source said that a new digital bank in Iraq, linked to a prominent political figure,  faces international scrutiny and potential sanctions in the coming period  due to serious  financial cases related to money laundering and  smuggling funds abroad.
 
The source, who spoke on condition of anonymity, confirmed to Al-Mustaqilla's correspondent that
 
investigations conducted by international and security agencies revealed the bank's involvement in suspicious financial transactions, most notably the issuance of fake bank cards used to transfer illegal funds outside Iraq.
 
This has sparked widespread concern within the local and international banking community.
 
These developments come amid mounting criticism of the Iraqi financial system, which suffers from weak oversight and is being exploited by some political parties to pursue personal interests at the expense of the national economy. 

The source confirmed that sanctions will be imposed on the bank in the coming period, which could open the door to broader investigations to uncover more suspicious financial networks inside and outside Iraq.
 
This news raises serious questions about the transparency of the Iraqi financial sector and the possibility of achieving real reforms that put an end to the exploitation of political money among modern digital banks.  https://mustaqila.com/مصدر-مصرف-رقمي-جديد-في-العراق-مهدد-بعقو/   

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 7-23-25

Good Morning Dinar Recaps

The Global Economy Is Crumbling Before Our Eyes

A slow-motion collapse of the global financial system is underway, and it’s no coincidence. Historians Neil Howe and William Strauss suggest we are now deep into a historical crisis cycle—what they call the Fourth Turning—a destructive period that occurs every 80 to 100 years, reshaping societies, economies, and global power structures.

As this cycle unfolds, traditional financial systems may falter—and Bitcoin may serve as the escape hatch.

The “Fourth Turning” and Historical Collapse Cycles

Howe and Strauss, in their 1997 book “The Fourth Turning: An American Prophecy”, proposed that history moves in four recurring generational cycles:

1. The High – A time of strong institutions and social cohesion (e.g., post-WWII boom)

2. The Awakening – A cultural rebellion against institutions (e.g., 1960s-70s)

3. The Unraveling – An era of weakening institutions and growing individualism (1980s–2000s)

4. The Fourth Turning – A full-blown crisis where systems collapse and power structures reset

Past Fourth Turnings included the American Revolution, the Civil War, and the Great Depression leading to World War II. According to Howe, we entered the current crisis phase sometime between the mid-2000s and early 2020s.

Why Collapse Is Unfolding Now

Several converging forces are driving the present global disintegration:

1. Debt and Financial Instability

Since the 2008 financial crisis, governments and corporations have become dangerously reliant on low interest rates and easy credit. This has fueled record levels of global debt while inflating asset bubbles in stocks, real estate, and bonds. Now, with interest rates rising and debt burdens ballooning, the system is buckling.

2. Social Fragmentation and Institutional Breakdown

Trust in institutions—governments, media, banks—has collapsed. Rising inequality has triggered political polarization and populist uprisings across the world. From Trump in the U.S. to Meloni in Italy, mainstream politics is giving way to nationalist and anti-establishment movements.

3. Geopolitical Realignment and Superpower Conflict

China’s rapid rise has disrupted the unipolar world order dominated by the United States. Tensions over Taiwan, trade, and technology resemble the great-power rivalries of past Fourth Turnings. The new U.S.-China standoff has already begun to fracture global supply chains and military alliances.

Economic Fallout and Political Risk

In a debt-ridden world, governments typically face three choices:

• Austerity

• Default

• Inflation

Most choose inflation—it quietly reduces debt by devaluing money. However, this approach erodes savings, purchasing power, and investor confidence. The 2020 pandemic response demonstrated this clearly: trillions were printed, and inflation surged across essential goods and services.

If inflation persists, governments may resort to financial repression, compelling savers to hold government bonds with negative real returns, or imposing capital controls to trap wealth within borders.

Simultaneously, geopolitical conflict—especially in flashpoints like the Taiwan Strait—could trigger financial panic, crash markets, and cripple international trade. Countries are already being forced to choose sides between Western powers and BRICS nations.

Strategic Positioning: What Investors Can Do

According to financial historian Russell Napier, we are entering an era of high inflation, capital controls, and sustained financial repression. Investors should expect long-term constraints on liquidity and freedom of capital movement.

1. Bonds Are No Longer Safe

With inflation rising, bondholders will demand higher returns. This drives down bond prices, making once-safe government and corporate debt a liability.

2. Shift Toward Tangible Sectors

Infrastructure, energy, defense, manufacturing, and raw materials will become focal points for state investment. These sectors are positioned to benefit from government stimulus and national security priorities.

3. Gold, Silver, and Real Assets

Precious metals historically outperform during inflationary periods. Gold is increasingly seen as a reserve asset of last resort, especially if fiat currencies come under pressure.

4. Bitcoin as a Sovereign Hedge

Cryptocurrencies with strong adoption—primarily Bitcoin and Ethereum—may offer a path to preserving wealth in the face of monetary devaluation. As traditional systems falter, decentralized assets could provide an exit strategy for individuals seeking monetary sovereignty.

“Only digital assets with real utility and decentralized trust will endure. Most others will collapse,” analysts warn.

Conclusion: A Dangerous Decade, A Rare Opportunity

The 2020s may bring chaos, but also transformation. History shows that each Fourth Turning ends not in total destruction, but in renewal. After crisis comes rebirth.

Investors and citizens who adapt—by repositioning portfolios, securing tangible assets, and exploring decentralized options—may not only survive this upheaval but emerge stronger on the other side.

@ Newshounds News™
Source: CoinTribune

~~~~~~~~~

WATCH LIVE: Fed Chair Jerome Powell delivers remarks on America's economic outlook

Powell is widely expected to shed light on the timing of interest rate cuts and where the Fed sees the economy headed over the next year.

@ Newshounds News™
Source:  Fox Business News

~~~~~~~~~

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Thank you Dinar Recaps

“Tidbits From TNT” Wednesday Morning 7-23-2025

TNT:

Tishwash:  Transforming Iraq into a regional hub: Establishing a "Global Gold City" in Baghdad

The Iraqi Ministry of Trade has announced the establishment of a dedicated city for the gold and jewelry industry in the Iraqi capital, Baghdad.

The aim is to localize the precious metal industry and boost local production within the country, "which will contribute to transforming Baghdad into a regional center for the gold industry and trade."

 The ministry announced in a statement on Wednesday, July 23, 2025, that the Ministerial Council for the Economy had approved the proposal submitted by the Ministry of Trade to establish a "Global Gold City" in Baghdad. The ministry described the move as "strategic, aiming to localize the gold and jewelry industry within Iraq and boost local production."

Minister of Commerce, Athir Dawood Al-Ghurairi, emphasized in this regard that "the project represents a qualitative leap in the development of national industries," noting that "the city will include an integrated system that includes specialized industrial units, advanced training centers for goldsmithing according to international standards, as well as advanced markets and an exchange for gold and jewelry."

For his part, Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, explained that "the project aims to support the private sector and expand its contribution to the national economy," noting that "the city will be established within the integrated economic city in Baghdad, contributing to transforming the capital into a regional center for the gold industry and trade."

According to Al-Hashemi, the ministry has begun coordinating with the National Investment Commission to complete the requirements for land allocation and issue investment licenses in preparation for the project's implementation.  link

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

Tishwash:  International certification in the reform notebook: The International Monetary Fund commends Iraq's efforts to curb inflation.

In a move that may reflect a tangible shift in Iraq's economic policy, the country received official praise from the International Monetary Fund for its efforts to curb inflation.

 Economists consider this a positive indicator of the effectiveness of the policies adopted by the government and the Central Bank over the past period.

Economic expert Nasser Al-Tamimi told Baghdad Today on Tuesday (July 22, 2025) that “the IMF’s praise represents a reassuring message to the international community and investors, and reflects the seriousness of the economic policies that Baghdad has recently adopted.” He added that “Iraq has faced major inflationary challenges in recent years as a result of internal and external factors, including fluctuations in oil prices and disruptions in supply chains, in addition to political and financial pressures.”

Al-Tamimi pointed out that "the improvement in inflation indicators is the result of balanced monetary policies, including tightening monetary policy tools, enhancing market oversight, and maintaining the stability of the dinar exchange rate, which helped prevent price increases and protect citizens' purchasing power."

However, he stressed at the same time that this praise "is not the end of the road, but rather the beginning of a long reform journey," emphasizing "the need to continue addressing structural gaps in the economy, expanding the revenue base beyond oil, and monitoring global developments that may impact price levels in the country in the future."

Al-Tamimi concluded his statement by saying, "The IMF report provides a strong impetus to the economic reform process, while simultaneously placing an additional responsibility on decision-makers to continue the corrective approach and achieve comprehensive and sustainable development that serves citizens first and foremost."

Economists believe that the Iraqi economy has faced significant inflationary challenges in recent years, influenced by a number of factors, most notably fluctuations in global oil prices, which represent the state's primary source of revenue. In addition, internal political and security crises and disruptions to global supply chains, particularly following the COVID-19 pandemic and the war in Ukraine, have also contributed to this.

In 2021 and 2022, Iraq recorded relatively high inflation rates, which negatively impacted the prices of goods and services and affected the purchasing power of citizens, particularly those with limited income.

In response, the Central Bank of Iraq adopted a more restrictive monetary policy, raising interest rates, strengthening oversight of banking activity, and attempting to stabilize the dinar's exchange rate against the dollar despite market volatility.    link

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

Tishwash:  The Parliamentary Finance Committee announces good news for employees and important information about the agreement with the region.

The Parliamentary Finance Committee revealed a government plan to issue bonuses and promotions without linking them to budget schedules.

Committee member Moeen Al-Kadhimi said during his appearance on the "Free Talk" program on Al-Furat satellite channel: "It is likely that in the coming period, Prime Minister Mohammed Shia Al-Sudani will instruct the Ministry of Finance to release bonuses and promotions for employees and not link them to budget schedules."

He added, "After hosting Finance Minister Taif Sami, the discussion focused on the reasons for the delay in the budget schedules, the liquidity shortage, and employee salaries, bonuses, and promotions," noting that "she emphasized covering basic needs through oil and non-oil revenues."

Al-Kadhimi noted that "the current oil price of $65 a barrel is sufficient to cover monthly salaries, given continued exports and budget allocations." He added that "each of the three-year budgets, estimated at 150 trillion dinars annually, can cover salaries and stalled projects without the need to create new ones."

Regarding non-oil revenues, he explained that "their percentage does not exceed 12% currently," calling for "a gradual plan to raise the percentage to 50% by strengthening collection, taxes, and border crossings with support from political blocs and the government."

Regarding the region's affairs, Al-Kadhimi asserted that "oil and non-oil revenues in Kurdistan amount to 9 trillion dinars annually, but the federal government is not receiving the actual figures and the region is refusing to pay." He added that "the government, out of appreciation for the employees' circumstances, has released a one-month salary allowance despite the region's shortcomings."

He pointed out that "Baghdad paid 700 billion dinars in salaries to the region for the month of June, compared to only 120 trillion dinars paid by the region as an initial attempt to resolve the crisis," adding that "the crisis of trust and credibility was the main reason for the previous funding obstruction."

Regarding the Ceyhan oil pipeline, Al-Kadhimi stated that "Turkey has presented new conditions related to compensation, doubling transit costs, and participation in gas projects and Kurdistan fields." He emphasized "the need for the Iraqi government to move to negotiate during the current year, especially since Iraq possesses strong leverage."

He called for "opening alternative export routes via the Red Sea, Syria, Jordan, and Saudi Arabia as emergency options," stressing his "rejection of a Turkish incursion into Iraqi territory, given that the Kurdistan Workers' Party (PKK) no longer exists." He also warned against "continued violations of sovereignty and the arrival of Turkish forces on the outskirts of Mosul."

Al-Kadhimi concluded by stressing "the importance of leveraging the economic card, particularly the water issue, to pressure Ankara and put an end to its security interventions within Iraqi territory." link

Mot:  Those Were the Daze My Friend ~~~~~

Mot: Sumthun bout Summer I Guess  

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

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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

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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