“Tidbits From TNT” Monday Morning 8-25-2025

TNT:

Tishwash:  Can budget tables save Iraq from a financial crisis? An expert answers.

Political and economic circles are anticipating the budget tables will be submitted to Parliament within the next two months, amid questions about their ability to address a potential financial crisis.

In this context, economic expert Salah Nouri explained to {Euphrates News} that "the success of these schedules depends on several key factors, most notably the nature of the spending schedules. If an austerity portfolio focuses on only necessary expenditures, it may mitigate the severity of the crisis."

He added, "It also requires resolving issues with the US Federal Reserve to ensure the full transfer of oil revenues."

Nouri stressed the "necessity of maintaining the planned oil selling price in the general budget, which reaches $70 per barrel," noting that "taking these factors into account will be a decisive factor in the budget's ability to confront financial challenges and ensure economic stability for the country. link

Tishwash:  Association of Banks: Payment points increased to 60,000, and more than 18 million electronic cards were issued.

The Iraqi Private Banks Association announced on Sunday the issuance of more than 18 million electronic payment cards across the country, while noting that the number of payment points has increased to approximately 60,000.

Ali Tariq, executive director of the Iraqi Private Banks Association, told the Iraqi News Agency (INA), "The issuance of electronic cards in the country is witnessing a significant increase, particularly following government decisions to promote electronic payments and oblige government and private institutions to collect electronically."

He explained that "the number of cards issued has exceeded 18 million in Iraq, while the number of electronic payment points has increased from 7,000 to approximately 60,000, with further increases expected in the coming period."

He added, "Banks continue to support various projects," explaining that "financial ceilings for small, medium, and large projects are determined by each financial institution based on the nature of the project, its capital, and the number of employees  link

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Tishwash:  Iraqi markets teeter between the official and parallel currencies. A relentless struggle drives up the exchange rate.

It appears that government measures and the Central Bank's attempts to control the dollar exchange rate have not achieved complete success, as exchange rates continue to witness significant fluctuations in the markets, amid increasing pressures resulting from unofficially covered demand, smuggling operations, and the complications of recent customs decisions.

The US dollar exchange rate rose in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, after successive declines witnessed in recent days, raising concerns among citizens and traders alike.

The Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 141,600 dinars for $100, while the selling price in exchange shops in local markets recorded 142,500 dinars for $100, after the dollar recorded 139,000 dinars for $100 this month.

Experts believe that the continued fluctuation reflects the limited impact of government measures and the Central Bank, as unofficial market factors, such as demand related to trade with neighboring countries and smuggling through ports, continue to pressure the stability of the dinar.

These people point out that addressing the crisis requires broader solutions than just financial decisions, including reforming the customs system, strengthening control over border crossings, and revitalizing non-oil economic sectors to reduce excessive reliance on the dollar.

Expectations of Rise

In turn, economic expert Ahmed Abd Rabbo expects a further rise in the dollar exchange rate, noting that the previous decline was a result of the downturn witnessed in the markets, which created a state of anxiety in financial transactions.

Abd Rabbo told Al-Mada that "the talk about the suspension of some remittances and problems with online shopping led to a rush on the dollar in the parallel market, which will lead to a renewed rise in the price."

He added that "stabilizing the dollar price requires practical plans and real market control, so that the Central Bank can understand the problems and seek effective solutions through the banking system," stressing that "such steps will contribute to controlling prices and calming the market."

He pointed out that "seriously addressing the factors affecting supply and demand, in addition to monitoring parallel market movements, are key to achieving real stability in the dollar price."

Traders point out that the gap between the official and parallel markets still exists, which opens the door to daily speculation and makes any temporary decline vulnerable to rapid dissipation. While citizens are optimistic about any decline in the exchange rate, concerns remain about a renewed rise, accompanied by a new wave of inflation that will put pressure on the livelihood of Iraqi families.

Three main factors

For his part, financial and banking expert Abdul Rahman Al-Shaikhly attributed the reasons for the fluctuations in the dollar exchange rate in Iraq to three main factors, stressing that these factors work together to increase pressure on the market.

Al-Shaikhly explained to Al-Mada that "the first reason is the scarcity of supply compared to the increasing demand, which creates a state of tension in the exchange market."

He added, "The second reason is the insistence of many traders on importing their goods from neighboring banned countries, especially in light of the Central Bank's occasional delay in providing dollars to importers through official outlets. The third reason is the price difference between the official market and the parallel market, which has encouraged speculators to take advantage of this disparity, especially in light of the current increase in demand."

He stressed that "understanding these reasons and taking measures to control supply and demand, in addition to monitoring price differences between markets, represents an important step towards stabilizing the dollar price in Iraqi markets."

The Iraqi public had been optimistic about the decline in the dollar price in recent weeks, hoping that this would be reflected in price stability and a decline in commodity costs. However, the ongoing volatility has dispelled these expectations, after the price rose again, affected by the increase in demand that is not officially covered and the slowness of government solutions, which has left the public facing renewed concerns about a new wave of looming inflation.  link

Mot:  .. ole ""Opal's"" at it again!!!  

MilitiaMan and Crew: Iraq Dinar News Update-WTO-Currency-Investment-Global

MilitiaMan and Crew:  Iraq Dinar News Update-WTO-Currency-Investment-Global

8-23-2025

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

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=yPbw0djcusM

Seeds of Wisdom RV and Economic Updates Friday Morning 8-22-25

Good morning Dinar Recaps,

Fed Chair Jerome Powell Faces Delicate Balancing Act in Jackson Hole Speech Today

When Federal Reserve Chair Jerome Powell takes the stage today at the annual Jackson Hole, Wyoming economic forum, he will face mounting pressures—from President Trump’s repeated calls for his resignation to a recent stream of worrying economic data.

Powell, whose term as Fed Chair ends in May 2026, will likely deliver his last major policy speech as head of the central bank. The event, hosted by the Federal Reserve Bank of Kansas City, is closely watched because it provides a stage for Fed officials to signal views on the economy and future monetary policy direction.

Focus on Rates at Jackson Hole

• A key issue is whether Powell will hint at the Fed’s next interest rate decision, scheduled for Sept. 17.

• President Trump has pushed the Fed to cut rates, citing solid economic data and muted inflation.

• Powell, however, has emphasized a “wait and see” approach, especially as the Fed evaluates the impact of tariffs on consumer prices.

• Meanwhile, new signals—such as slowing job growth and inflation showing its largest increase in three years—complicate the picture.

Melissa Brown, Managing Director of Investment Decision Research at SimCorp, summed it up:

“You have this political pressure balanced off against the economic pressure, which makes Powell’s job particularly difficult.”

The Fed declined to comment ahead of Powell’s remarks. The Kansas City Fed will livestream the speech Friday at 10 a.m. Eastern Time on YouTube.

Will the Fed Cut Rates?

• Powell is expected to avoid confirming whether the Federal Open Market Committee (FOMC) will lower rates in September.

• By design, Fed decisions are kept private until officially announced to avoid market disruption and to maintain independence from political pressure.

• Before the Sept. 16–17 meeting, the Fed will receive two key reports:

• Labor Department jobs report (Sept. 5)

• Consumer Price Index (CPI) (Sept. 11)

Recent political tension has risen after the head of the Labor Statistics Bureau was fired in August, following a sharp slowdown in reported job creation—figures that President Trump openly questioned.

Mike Sanders, Head of Fixed Income at Madison Investments, explained:

“I don’t think Powell can push the narrative toward cutting because that leaves him no option but to cut. He has to signal data-dependence.”

Markets, however, are already betting on a cut. FactSet data shows an 88% chance of a 0.25% rate reduction in September.

Last year at Jackson Hole, Powell hinted at cuts, which materialized the following month with a 0.50% rate reduction.

Dual Mandate, Conflicting Signals

• Powell also faces the Fed’s dual mandate:

• Maximize employment

• Maintain stable prices (inflation control)

• These mandates often conflict:

• Cutting rates may boost job growth but risk higher inflation.

• Holding rates steady may stabilize inflation but slow employment growth.

Economist Will Denyer (Gavekal Research) noted the Fed may face a stagflation risk—a combination of slow growth and rising inflation, considered the “Fed’s nightmare scenario.”

Minutes from the July 30 FOMC meeting reveal that some members still worry supply-chain disruptions could keep inflation elevated, confirming that inflation remains a central concern.

Oxford Economics Chief U.S. Economist Ryan Sweet added:

“The labor market will be the swing factor on whether the Fed cuts interest rates in September or not.”

@ Newshounds News™
Source: CBS News

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US House Adds CBDC Ban to Massive Defense Policy Bill

The House has quietly slipped a provision banning the Federal Reserve from issuing a digital currency into an almost 1,300-page defense policy bill, underscoring how the debate over money’s future has become tied to national security legislation.

The move comes through a revision of HR 3838, the House’s version of the National Defense Authorization Act (NDAA), shared Thursday by the House Rules Committee. The language is sweeping: it bans the Federal Reserve from studying, developing, or creating any digital currency.

The House had already passed a separate CBDC-ban bill in July — the Anti-CBDC Surveillance State Act — by a razor-thin margin of 219–210. But that measure faced a steep uphill battle in the Senate. By inserting the ban into the NDAA, lawmakers have effectively hitched it to must-pass national security funding, increasing its odds of survival.

Why It Matters

The NDAA is among the most critical annual bills in Congress, setting defense budgets and military priorities. It is also notorious as a vehicle for non-defense riders that would otherwise stall if brought as standalone measures. By embedding a CBDC prohibition here, House Republicans have dramatically shifted the battleground.

• House leaders promised the CBDC ban in July as part of a deal with conservative hardliners.

• A group of GOP holdouts had refused to advance three crypto-related bills unless a ban was guaranteed, stalling floor debate for over nine hours — the longest delay in House history.

• The logjam broke only after House Majority Leader Steve Scalise pledged that the ban would be added to the NDAA.

What the Provision Does

The language would:

• Ban the Federal Reserve from issuing a CBDC or any digital asset.

• Block the central bank from offering financial products or services directly to individuals.

• Prohibit the Fed from even “testing, studying, developing, creating, or implementing” a digital currency.

• Allow a carve-out for stablecoins, clarifying that the bill does not prohibit “any dollar-denominated currency that is open, permissionless, and private.”

Historical Context

• Republicans have long targeted CBDCs as a threat to financial privacy and state overreach.

• In early 2023, Representative Tom Emmer introduced the CBDC Anti-Surveillance State Act, but it died in the previous Congress.

• Emmer has since reintroduced the bill, framing it as aligned with President Donald Trump’s January executive order prohibiting CBDCs.

With its new place in the NDAA, however, the CBDC ban is no longer a fringe fight — it is now tethered to America’s broader defense and security posture.

@ Newshounds News™
Source: Cointelegraph   

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CFTC Launches Crypto Sprint With Public Consultation Open Until October 20, 2025

The Commodity Futures Trading Commission (CFTC) has opened its latest “crypto sprint,” a major step in advancing President Trump’s digital asset agenda. This initiative, running through October 20, 2025, invites public feedback from industry leaders, investors, and everyday users to help shape the next phase of U.S. crypto market rules.

Working in tandem with the SEC, the sprint underscores a push for stronger federal oversight of spot trading, signaling that digital assets have become a priority at the highest levels of government.

Focus on Spot Market Oversight

Acting Chairman Caroline D. Pham announced that the sprint will begin immediately, with a focus on:

• Federal-level trading rules to strengthen spot market oversight.

• Expanded attention to leveraged, margined, and retail trading risks.

• Alignment with the SEC’s “Project Crypto”, in direct response to Trump’s call for U.S. leadership in digital assets.

Calling this the start of a “Golden Age of innovation,” Pham urged the industry to embrace both growth and responsible regulation as central to U.S. competitiveness in global digital finance.

Expanding Oversight Beyond Spot Trading

This is the second CFTC crypto sprint in recent weeks:

• The first focused specifically on spot trading.

• The new phase expands to broader market structure, leverage, and retail-focused products.

Pham emphasized the Commission’s commitment to managing risks without stifling innovation, highlighting coordination with the SEC, the White House, and market stakeholders.

Public Consultation Open Until October 20

Public participation is central to this process. The CFTC is inviting feedback from institutions, builders, and individual investors via its official website. This marks a rare chance for the crypto community to directly shape future U.S. digital asset rules.

Implications for the Market

• Bullish case: Clear rules could legitimize the market, attract institutional money, and accelerate mainstream adoption.

• Bearish case: Overly strict limits on leverage and retail access — combined with regulatory overlap — could suppress innovation and push projects overseas.

Either way, the CFTC’s sprint represents a pivotal moment: the rules that emerge could define the U.S. crypto market for years to come.

@ Newshounds News™
Source: Coinpedia

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Ripple Partners with SBI to Roll Out RLUSD Stablecoin in Japan by Q1 2026

Ripple announced Friday that it will launch its Ripple USD (RLUSD) stablecoin in Japan in partnership with SBI Holdings by the first quarter of 2026. The rollout will be managed through SBI VC Trade, the crypto subsidiary of SBI Holdings.

As of Friday morning, RLUSD holds a market capitalization of $666 million with a 24-hour trading volume of $71 million, according to CoinGecko.

Ripple and SBI’s Strategic Collaboration

Ripple emphasized that Japan is a critical market for the expansion of stablecoin adoption. In the announcement, Tomohiko Kondo, CEO of SBI VC Trade, said:

“SBI Group has been leading the development of the cryptocurrency and blockchain field in Japan. The introduction of RLUSD will not just expand the option of stablecoins in the Japanese market, but is a major step forward in the reliability and convenience of stablecoins in the Japanese market.”

This partnership builds on SBI’s longstanding relationship with Ripple, reinforcing their joint strategy to drive digital asset infrastructure in Asia.

RLUSD: Backed and Growing

• Launched in December 2024.

• Backed 1:1 by reserves that include:

• U.S. dollar deposits

• Short-term U.S. government bonds

• Other cash equivalents

The stablecoin market overall has seen sharp growth, with the supply of USD-pegged stablecoins hitting $266 billion as of Thursday, up from $256 billion on August 1, according to The Block’s data dashboard.

Expanding Global Reach

Ripple has been positioning RLUSD as a global payments rail:

• In June 2025, the Dubai Financial Services Authority approved RLUSD for use within the Dubai International Financial Centre, broadening its international footprint.

• The upcoming Japan launch marks another step in Ripple’s ambition to position RLUSD as a reliable, institution-friendly stablecoin in both regional and global markets.

Conclusion

Ripple’s Japan expansion with SBI Holdings demonstrates how stablecoins are moving beyond U.S. markets into regulated, high-demand regions. With Japan’s openness to blockchain innovation and SBI’s leadership role in fintech adoption, the partnership could become a model for stablecoin integration across Asia.

@ Newshounds News™
Source: The Block   

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Active Resistance to the Digital Financial Reset

Active Resistance to the Digital Financial Reset

Miles Harris:  8-18-2025

A major change is occurring in the global financial system. Governments and financial institutions describe this change as modernization, efficiency, or digital innovation.

 In reality, it is a gradual shift of money, markets, and ownership records into centralized digital systems.

These systems make assets visible in real time, programmable by policy, and subject to rules that can change without the consent of the owner.

 Understanding this process is essential for anyone who wants to maintain control over their assets and plan for the future.

00:00 Intro

Legal & Regulatory Changes

Institutional & Infrastructure Developments

Digital Identity Integration

 Engineered Liquidity

Events Policy Narratives

Control Layer Indicators

International coordination clues

Planning the Sequence of Actions

A Practical Monitoring System Conclusion

https://www.youtube.com/watch?v=GBp3WiSIZDE

Seeds of Wisdom RV and Economic Updates Tuesday Morning 8-19-25

Good Morning Dinar Recaps,

US Treasury Calls for Public Comment on GENIUS Stablecoin Bill

The U.S. Treasury Department is seeking public input on the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, signed into law by President Donald Trump in July. The move is part of a broader effort to strengthen U.S. leadership in digital assets while addressing illicit finance risks tied to crypto.

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Public Comment Period Open Until Oct. 17

• Treasury has invited individuals and organizations to submit comments by October 17.

• Feedback should focus on innovative methods to detect and mitigate illicit activity involving digital assets.

• Areas of particular interest include:

• Anti–money laundering strategies

• APIs and blockchain monitoring tools

• Artificial intelligence applications

• Digital identity verification

Treasury officials will compile and review the public responses before submitting formal reports to the Senate Banking Committee and House Financial Services Committee.

Secretary Bessent: Essential Step for U.S. Leadership

Treasury Secretary Scott Bessent described the consultation process as “essential” for implementing the GENIUS Act and securing American leadership in the digital asset sector.

The law requires the Treasury and Federal Reserve to finalize regulations before full implementation. Under the timeline:

• The GENIUS Act will take effect 18 months after being signed (July 2025), or

• 120 days after final regulations are published — whichever comes first.

Political and Regulatory Timing

The timing suggests that enforcement of the GENIUS Act will not overlap with the 2026 midterm elections, reducing the likelihood of the law being used as a campaign issue.

Broader Crypto Legislation Efforts

The GENIUS Act was one of three major bills advanced during Republicans’ “crypto week” in July:

• GENIUS Act – Establishes a regulatory framework for stablecoins

• Digital Asset Market Clarity (CLARITY) Act – Aims to provide clearer rules for digital asset markets

• Anti-CBDC Surveillance State Act – Pushes back against a government-issued central bank digital currency

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The House of Representatives passed all three with bipartisan support. The Senate Banking Committee has indicated it will prioritize crypto market structure, aiming to advance its own version of the CLARITY Act by October.

@ Newshounds News™
Source: Cointelegraph

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Tether Appoints Former White House Crypto Council Head Bo Hines as U.S. Strategy Advisor

Stablecoin leader Tether (USDT) has appointed Bo Hines, the former executive director of the White House Crypto Council, as its Strategic Advisor for Digital Assets and U.S. Strategy. The move marks a major step in Tether’s push to establish a regulated presence in the U.S. under the new pro-crypto administration.

Bo Hines Brings Washington Insider Experience

• Hines, a Yale-trained attorney and former GOP congressional candidate, played a central role in shaping U.S. crypto policy.

• At the White House, he helped secure passage of the GENIUS Act, creating a federal framework for stablecoins.

• He also organized a high-level digital assets summit connecting industry leaders with government officials.

• After seven months in government service, Hines stepped down in early August before moving to the private sector.

Why the Appointment Matters for Tether

Tether has long operated outside the U.S. regulatory framework. By adding Hines, the company gains:

• A direct connection to U.S. policymakers

• Expertise in navigating Washington’s legislative and regulatory processes

• Strategic positioning to launch a U.S.-compliant stablecoin under the GENIUS Act

Tether CEO Paolo Ardoino confirmed that U.S. expansion plans are “well underway,” calling Hines’s appointment a pivotal step toward meeting institutional and regulatory standards in the world’s largest market.

Tether’s Market Position

• Tether issues USDT, the world’s largest stablecoin.

• Circulating supply exceeds $166 billion, according to The Block’s data dashboard.

• The company’s U.S. strategy signals its ambition to transition from operating on the regulatory margins to becoming a fully integrated player in the American financial system.

@ Newshounds News™
Source: The Block

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Ripple Backs Gemini’s IPO Filing With $75M Credit Line, RLUSD Option Included

Ripple has emerged as a key backer of Gemini’s upcoming IPO, providing the exchange with a $75 million credit line that could expand to $150 million. The deal also introduces Ripple’s new stablecoin, RLUSD, as a borrowing option once the initial facility is tapped.

Key Takeaways

• Ripple extends $75M credit line to Gemini, with potential to reach $150M and RLUSD as a borrowing option.

• Gemini files for IPO under ticker “GEMI,” aiming to become the third U.S. crypto exchange to go public.

• The exchange reported a $282.5M net loss in H1 2025, highlighting steep financial headwinds ahead of listing.

• RLUSD inclusion signals Ripple’s ambition to challenge Tether (USDT) and Circle (USDC) in the stablecoin market.

Gemini’s IPO Plans

Gemini, which plans to list on Nasdaq under the ticker “GEMI,” disclosed the agreement with Ripple as part of its long-anticipated public offering.

The move positions Gemini to become the third crypto exchange to go public in the U.S., following Coinbase (2021) and Bullish (2025).

However, Gemini’s filing also revealed significant financial challenges:

• A $282.5 million net loss in H1 2025, up nearly sevenfold from last year.

• Revenue sliding to $67.9 million, down from $74.3 million in the same period of 2024.

Ripple’s Credit Facility Terms

Under the agreement with Ripple Labs, Gemini can:

• Borrow in tranches of at least $5 million.

• Pay interest rates of 6.5% or 8.5%, with collateral required.

• Once borrowing surpasses $75 million, loans can be denominated in RLUSD, providing Ripple’s new stablecoin a direct entry into U.S. exchange infrastructure.

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No funds have been drawn yet, but the inclusion of RLUSD underscores Ripple’s push to compete with USDT and USDC, which dominate the stablecoin market.

For Gemini, the facility provides fresh liquidity at a critical moment, as investor scrutiny intensifies ahead of its IPO.

Wall Street Giants Back Gemini IPO

The deal is being led by major Wall Street banks, including:

• Goldman Sachs

• Citigroup

• Morgan Stanley

• Cantor Fitzgerald

With Academy Securities and AmeriVet Securities acting as co-managers.

Investor appetite for crypto listings is strong:

• Circle’s IPO (June 2025) saw shares surge nearly 10x from its $31 offering price before settling at $149.

• Bullish’s IPO earlier this week more than tripled from $37 to nearly $70 on its first trading day.

Several other firms — including OKX, Grayscale, and Kraken — are also considering public offerings. Meanwhile, listed giants like Coinbase and MicroStrategy have hit multi-year highs.

Policy Shift Fuels IPO Wave

The IPO momentum comes amid a regulatory climate increasingly favorable to digital assets:

• Since President Trump’s return in January 2025, the SEC has dropped most cases against crypto firms.

• The administration has advanced a pro-crypto agenda, including:

• An executive order urging regulators to remove barriers preventing 401(k) retirement plans from including crypto assets.

• Potential reforms that could allow millions of Americans to allocate retirement savings into Bitcoin and other digital assets through regulated channels.

@ Newshounds News™
Source: CryptoNews

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Iraq Economic News and Points To Ponder Late Saturday Evening 8-16-25

Rafidain Bank Signs An Agreement With An American Company In The Field Of Financial Consulting And Oversight

Banks  Economy News – Baghdad  Rafidain Bank announced today, Friday, the signing of a professional partnership agreement with an American company in the field of financial consulting and oversight.

Rafidain Bank Director General Ali Karim Hussein Zahir Al-Fatlawi said in a statement published by the Iraqi Embassy in Washington, "In a new strategic step that reflects Iraq's growing financial standing on the international stage, the Iraqi Embassy in Washington witnessed the signing of a professional partnership agreement between Rafidain Bank and K2 Integrity, a global leader in financial and regulatory consulting."

He added that "the agreement includes providing a comprehensive package of services, including combating money laundering and terrorist financing, implementing compliance systems in line with international standards, and strengthening the regulatory infrastructure of Iraqi banks."

He noted that "this cooperation is part of the Iraqi government's strategy to build a strong and transparent financial sector capable of keeping pace with global economic transformations and consolidating Iraq's position as a promising financial center in the region."

He explained that "this partnership represents a qualitative leap forward in the path of banking reform," noting that "the agreement will contribute to strengthening confidence in Iraqi banks and opening broader horizons for cooperation with correspondent banks around the world, supporting the government's goals of building a strong, transparent financial sector that is consistent with international best practices."

This signing comes as an extension of the government's approach to launching strategic projects that enhance Iraq's position as a promising financial center in the region, and consolidate its image as a country capable of keeping pace with global economic transformations with confidence and competence.   https://economy-news.net/content.php?id=58801

Rafidain Bank Signs Agreement With US Company Amid Criticism In Congress

Rafidain Bank announced on Friday (August 15, 2025) the signing of a professional partnership agreement with K2 Integrity, an American financial consulting and oversight firm, during a ceremony held at the Iraqi Embassy in Washington.

According to a statement from the bank, the agreement includes a package of services covering anti-money laundering and counter-terrorism financing, the implementation of international compliance systems, and strengthening the regulatory structure of Iraqi banks.

The bank's general manager, Ali Karim Hussein Dhaher Al-Fatlawi, emphasized that the partnership represents "a qualitative leap in the path of banking reform" and will contribute to enhancing confidence in Iraqi banks and opening up broader horizons for international cooperation.

According to the statement, this signing comes within the Iraqi government's strategy to build a strong and transparent financial sector capable of keeping pace with global economic transformations and consolidating Iraq's position as a promising financial center in the region.

However, US Representative Joe Wilson accused Rafidain Bank of conducting financial transactions with the Houthi group in Yemen, describing it as a "terrorist organization." He vowed to work to cut off US funding to Iraq in the upcoming financial allocations legislation and urged the US Treasury to impose sanctions against the bank.   https://www.radionawa.com/all-detail.aspx?jimare=42440

Rafidain Bank Confirms: Our Agreement With K2 Integrity Puts Iraq On The Map Of The Global Financial System

Banks  Rafidain Bank's General Manager, Ali Karim, emphasized that signing the partnership agreement with K2 Integrity represents a qualitative shift in the bank's journey and the Iraqi financial sector. He noted that this strategic step transforms Rafidain Bank from a traditional local institution to an integrated banking platform directly aligned with international standards.

Al-Fatlawi explained, in an interview with the official agency, followed by Al-Eqtisad News, that the partnership comes with direct support from Prime Minister Mohammed Shia Al-Sudani, and in accordance with Cabinet Resolution No. (23274) of 2023, within the framework of a comprehensive reform vision aimed at restructuring the banking sector, strengthening Iraq's economic and financial sovereignty, and repositioning the country on the map of the international financial system with confidence and transparency.

Al-Fatlawi told (INA): "The partnership agreement with K2 Integrity represents a qualitative shift for Rafidain Bank, which is no longer just a traditional local bank, but has become an institution working to connect Iraq to international banking standards."

He added, "K2 Integrity is a global leader in compliance and anti-money laundering and counter-terrorism financing, and our collaboration sends a clear message that Iraq is serious about reforming its financial institutions and preparing them to open up to the global financial system."

Prime Minister's support

He continued, "This partnership would not have seen the light of day without the great support of Prime Minister Mohammed Shia Al-Sudani, who adopted a serious reform vision to restructure the banking sector. The contract with K2 Integrity came in accordance with Cabinet Resolution No. (23274) of 2023, which reflects that this project is not just an individual initiative of the bank, but rather part of a higher government policy aimed at enhancing transparency and financial sovereignty in Iraq."

Direct gains for citizens

Al-Fatlawi told (INA): "On the local level, this agreement raises the level of compliance and transparency within the bank, and establishes a modern corporate culture based on governance and risk management. As for the citizen, it means more secure banking services, greater protection for their money, and enhanced confidence in an institution that has long been a fundamental pillar of the national economy. Simply put, the citizen will feel that their money is in safe hands subject to global regulatory standards."

Reintegrating Iraq into the international financial system

Regarding the agreement's implications for Iraq's financial reputation, he explained, "Iraq needs to rebuild trust with international institutions, and this agreement is key to that.

 Through K2 Integrity's services, we will be able to issue reports according to the highest international standards, which will put us back on the map of the international financial system and give us the ability to open up to global correspondent banks and attract foreign investment. Simply put, we are establishing a new phase in which Iraq is viewed as a country serious about reform, not as a fragile or isolated economy."

Fortifying the economy

Al-Fatlawi emphasized that "the banking sector is the first line of defense for any country's sovereignty. Through this partnership, we are not only improving our services, but also protecting our economy from the risks associated with financial isolation or unjustified accusations, and building institutional capacity that grants us greater independence. This step truly translates the vision of the Prime Minister and the Iraqi government for Rafidain Bank to be part of a broader national project to enhance economic sovereignty."

Regarding Rafidain Bank's future vision after this partnership, Al-Fatlawi told the Iraqi News Agency (INA): "This agreement reflects our ambition to transform into a modern, integrated banking institution, capable of keeping pace with technological and regulatory developments in the world.

We are establishing a brighter and more stable banking future, where citizens trust our ability to manage their money, and international institutions trust our ability to comply with global standards. Simply put, we are laying the foundation for an Iraqi bank with a global identity." https://economy-news.net/content.php?id=58856

Al-Araji Discusses With The US Chargé d'Affaires Enhancing Cooperation And Combating Terrorism.

A wish | 03:15 - 08/16/2025   Mawazine News - Baghdad -   National Security Advisor Qasim al-Araji received on Saturday the US Chargé d'Affaires in Iraq, Ambassador Stephen Fagin.

During the meeting, they discussed bilateral relations and ways to enhance cooperation in the field of combating terrorism and exchanging information and expertise.

Al-Araji also reviewed the details of the security memorandum of understanding signed between Iraq and Iran regarding border control and preventing smuggling and infiltration, stressing that Iraq proceeds from its supreme national interests and adopts a policy of balanced openness with countries of the region and the world.

For his part, Fagin renewed his country's support for the policies of the Iraqi government, praising its efforts in returning the displaced. He revealed that an international conference will soon be held in New York to urge countries to withdraw their nationals from the Syrian Al-Hawl camp and fully resolve this issue.   https://www.mawazin.net/Details.aspx?jimare=265192

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

Powell, Bad Data, and a Fractured Fed in the Shadow of the Trump Admin

Powell, Bad Data, and a Fractured Fed in the Shadow of the Trump Admin

Kitco News:   8-15-2025

The Federal Reserve stands at a critical juncture, navigating a complex landscape of economic data inconsistencies, growing internal dissent, and vocal political pressure regarding its leadership and monetary policy direction.

This intricate scenario was expertly dissected by Danielle DiMartino Booth, a respected voice in monetary policy, during a recent discussion with Jeremy Szafron on Kitco News.

The central theme of the conversation revolved around the quality of economic data guiding the Fed’s interest rate decisions and the palpable signs of an impending economic slowdown. Booth highlighted how a string of significant data revisions has thrown a wrench into the prevailing narrative of a robust economy, directly impacting the calculus for future rate decisions.

A key revelation from the discussion was the extensive downward revisions to crucial labor market data, particularly payroll figures. These adjustments, Booth noted, paint a starkly different picture than initially presented, weakening the argument for a perpetually strong jobs market.

Compounding this, rising delinquencies in consumer credit—specifically credit cards and student loans—further contradict the notion of a resilient consumer.

These inconsistencies, Booth emphasized, severely complicate the Federal Reserve’s decision-making process. If the underlying data guiding policy is flawed, then the resulting policy might be miscalibrated, risking either overtly tight or excessively loose monetary conditions.

Adding a potent political dimension to the economic discussion, Treasury Secretary Scott Bessent emerged as a vocal advocate for a dramatic shift in monetary policy. Bessent explicitly called for aggressive interest rate cuts, suggesting a lowering of 150 to 175 basis points, with an immediate 50 basis point cut as early as September.

He sharply criticized Fed Chair Jay Powell’s current “data-driven” approach as outdated, advocating for a return to a more proactive “1990s-style” economy where the Fed moved preemptively.

Bessent’s core warning: current monetary policy risks being “too tight for too long,” potentially stifling growth unnecessarily and pushing the economy into a deeper downturn.

Beyond the challenge of unreliable data, the discussion also shone a light on growing internal dissent within the Federal Open Market Committee (FOMC). An “unprecedented number of dissents” signals a widening divide among policymakers regarding the appropriate path for interest rates, indicating a lack of consensus that could further complicate future actions.

This internal friction, coupled with the increasingly public debate over Jerome Powell’s tenure as Fed Chair—with figures like Donald Trump and Scott Bessent openly discussing his potential replacement—raises significant concerns about the Federal Reserve’s cherished independence.

 The reputational and political challenges facing the central bank underscore the delicate balance it must maintain between economic imperatives and external pressures.

The Kitco News discussion with Danielle DiMartino Booth paints a complex picture for the Federal Reserve. Plagued by questionable data, facing external political pressure for aggressive rate cuts, and grappling with internal dissent, the Fed stands at a critical juncture.

The choices made in the coming months, both on rates and leadership, will undoubtedly shape the trajectory of the U.S. economy and redefine the central bank’s role in a highly charged political landscape.

https://youtu.be/OwMu7vnG-F4

“Tidbits From TNT” Saturday 8-16-2025

TNT:

Tishwash:  Trump's developments with Baghdad: A "rapid" withdrawal from Iraq before an imminent Israeli strike on Iran

After the US troop withdrawal from Iraq was scheduled to be suspended after the October 11 elections, Iraqi executive and parliamentary sources told Al-Araby Al-Jadeed that a decision was made in Washington to “accelerate” the withdrawal of hundreds of troops from the large Ain al-Assad base in Anbar.

This comes against the backdrop of escalating controversy between the Donald Trump administration and the Iraqi government over the Popular Mobilization Forces (PMF) law, which is no longer a secret. This is in addition to the successive explosion of numerous files, from the dollar to the smuggling of Iranian oil in Basra, as well as security agreements that Baghdad has recently been confused about.

The sources expressed their fear that this is related to expectations that are becoming more serious by the day, regarding “the resumption of war between Iran and Israel,” after experts stated that Iraq survived the previous war thanks to a heavy US presence in major Iraqi bases.

Al-Araby Al-Jadeed learned from Iraqi political and governmental sources that the US administration has notified the government of Prime Minister Mohammed Shia al-Sudani of the imminent withdrawal of hundreds of US soldiers and military personnel from the Ain al-Assad base in Anbar province, western Iraq.

The withdrawal is related to the Iraqi-US agreement, which stipulates the gradual withdrawal of US forces operating under the cover of the international coalition fighting ISIS since 2014. However, other sources spoke of US “displeasure” with the Iraqi government’s failure to adhere to understandings and agreements with the US administration.

According to the sources, "a senior advisor to the Iraqi government recently visited Washington and met with American officials, who informed him that the Iraqi government had not fulfilled its commitments to restrict the factions' weapons."

The sources pointed out that "the decision to withdraw a portion of US forces comes in contravention of the previously agreed-upon timetable between Baghdad and Washington for a gradual withdrawal, which was supposed to take place after the parliamentary elections scheduled for next November, meaning it is an emotional response from the US administration," expecting the withdrawal from Ain al-Assad base to begin next month.

Ain al-Asad Air Base is located 200 kilometers west of Baghdad, near the Euphrates River in the town of al-Baghdadi, west of Anbar Governorate, and is the largest US base in Iraq.

Ain al-Asad Air Base currently houses hundreds of American soldiers and military personnel. Along with American forces, the base is shared with the Iraqi Army's 7th Division, part of the Badia and Al-Jazeera Operations Command, which is responsible for Iraq's borders with Jordan and Syria, and parts of the border with Saudi Arabia.

In this context, a member of the Iraqi parliament told Al-Araby Al-Jadeed, “The United States is not satisfied with the performance of the Iraqi prime minister, and is exerting real pressure from all sides. Therefore, there must be real support for this government and prevent the continuation of American interference.” He added to Al-Araby Al-Jadeed, “The decision to withdraw American forces is expected, and may come within the framework of the security threat that may precede any expected Israeli operations in the coming period.

We do not currently know whether the forces will withdraw towards the Harir or Al-Tanf bases, or perhaps to bases in the Gulf, but these hints are merely tools to pressure the current government.”

However, security expert Ahmed Al-Sharifi pointed out, in an interview with Al-Araby Al-Jadeed, that “the American and foreign forces present at the Ain al-Assad base are considered mobile forces, meaning they are not fixed and are constantly moving between three bases: Al-Tanf and Al-Omar in Syria, and Ain al-Assad in Iraq. Each of these bases is linked to the others, which means that the possibility of the withdrawal of American forces from the Ain al-Assad base may be linked to the movement or perhaps the final withdrawal.”

Baghdad and Washington had agreed, at the end of September last year, to an official date for the end of the international coalition's mission against ISIS in the country, no later than the end of September 2025. This date was reached after months of dialogue between the two sides.

This came in the wake of escalating demands from armed factions and Iraqi forces allied with Iran to end its presence, particularly after the US strikes at the time on the headquarters of those factions in response to their attacks on coalition bases inside and outside the country, against the backdrop of the Gaza war.  link 

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Tishwash:  Rafidain Bank Signs Professional Partnership Agreement with K2 Integrity in Washington

In a new strategic step reflecting Iraq’s growing financial presence on the international stage, the Embassy of the Republic of Iraq in Washington hosted the signing ceremony of a professional partnership agreement between Rafidain Bank and K2 Integrity, a U.S.-based global leader in financial and regulatory consulting. The agreement is based on Iraqi Cabinet Resolution No. (23274) of 2023.

Under the agreement, K2 Integrity will provide a comprehensive package of services, including anti-money laundering and counter-terrorist financing measures, the implementation of compliance systems in line with international standards, and the enhancement of regulatory infrastructure for Iraqi banks.

This cooperation falls within the Iraqi government’s strategy to build a strong and transparent financial sector capable of keeping pace with global economic transformations, reinforcing Iraq’s position as a promising financial hub in the region.

The Embassy of the Republic of Iraq in Washington emphasized that this partnership reflects the strength and continued growth of Iraq–U.S. relations, particularly in the areas of economic diplomacy and strategic partnerships that support sustainable development.

The Embassy reaffirmed its commitment to further deepening these ties, advancing mutual interests, and expanding investment opportunities between the two countries. link

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Tishwash:  Hantoush: Dismantling the parallel market is key to the dollar's return to 135,000.

Financial researcher Mustafa Akram Hantoush emphasized that addressing the exchange rate issue in Iraq requires working on two main aspects: reforming the banking system and dismantling the parallel market. He noted that any partial solutions will not be sufficient to achieve the desired stability.

In an interview with Jarida Platform, Hantoush explained that “the Iraqi banking system suffers from weak competition due to the limited sale of dollars to a limited number of banks, in addition to the fact that most of them face international sanctions.” He indicated that “the current cooperation with Oliver Wyman aims to find practical solutions and increase the banks’ capital.”

He pointed out that "reducing restrictions on the banking system and opening up competition in foreign remittances will contribute to market stability," noting that "the other side of the solution is dismantling the parallel market linked to trade with Iran, where small traders and travelers to sanctioned countries operate."

Hantoush explained that "possible solutions include agreeing with the US Treasury Department on mechanisms for transferring funds, establishing three-way accounts for imported goods, and developing legal formulas for transferring funds to sanctioned countries via payment cards in their local currencies."

 He concluded by saying, "Controlling the parallel market could restore the dollar exchange rate to 135,000 dinars per $100, if these steps are implemented comprehensively."  link

Mot: Sum Times they Just Get - carried away!!!! 

Mot:  . Proud I Am!!!!  

“Tidbits From TNT” Friday Morning 8-15-2025

TNT:

Tishwash:  Rafidain Bank signs an agreement with an American company in the field of financial consulting and oversight.

Rafidain Bank announced today, Friday, the signing of a professional partnership agreement with an American company in the field of financial consulting and oversight.

Rafidain Bank Director General Ali Karim Hussein Zahir Al-Fatlawi said in a statement published by the Iraqi Embassy in Washington, "In a new strategic step that reflects Iraq's growing financial standing on the international stage, the Iraqi Embassy in Washington witnessed the signing of a professional partnership agreement between Rafidain Bank and K2 Integrity, a global leader in financial and regulatory consulting."

He added that "the agreement includes providing a comprehensive package of services, including combating money laundering and terrorist financing, implementing compliance systems in line with international standards, and strengthening the regulatory infrastructure of Iraqi banks." He noted that "this cooperation is part of the Iraqi government's strategy to build a strong and transparent financial sector capable of keeping pace with global economic transformations and consolidating Iraq's position as a promising financial center in the region."

He explained that "this partnership represents a qualitative leap forward in the path of banking reform," noting that "the agreement will contribute to strengthening confidence in Iraqi banks and opening broader horizons for cooperation with correspondent banks around the world, supporting the government's goals of building a strong, transparent financial sector that is consistent with international best practices."

This signing comes as an extension of the government's approach to launching strategic projects that enhance Iraq's position as a promising financial center in the region, and consolidate its image as a country capable of keeping pace with global economic transformations with confidence and competence.  link

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Tishwash:  Development Plan 2024–2028: Iraq moves towards a productive economy with revenues exceeding 700 trillion dinars.

In one of the most significant economic transformations in recent years, the Iraqi government has begun implementing the National Development Plan for 2024–2028. The plan aims to transform the national economy by diversifying sources of income and reducing dependence on oil, while also addressing unemployment and boosting investment in vital sectors.

The plan, supported by a clear government vision and political will, includes profound structural reforms and precise performance indicators that are monitored periodically. This comes at a time when projected revenues are estimated at more than 710 trillion Iraqi dinars and investments exceeding 240 trillion dinars are required to achieve its goals.

While the Ministry of Planning emphasized the importance of capital allocation and investment in priority sectors, government agencies viewed the plan as a true economic lever, while economic experts considered it one of the most realistic and comprehensive plans for addressing Iraq's development challenges.

For his part, the Prime Minister's Advisor for Financial and Economic Affairs, Mazhar Mohammed Saleh, highlighted the importance of the five-year national development plan for the years 2024–2028.

Speaking to Al-Eqtisad News, Saleh emphasized that the five-year plan reflects a genuine national determination to achieve significant goals in economic progress and prosperity, noting that it relies on population census data to accurately and efficiently guide its implementation.

He added that the plan's fundamental objective is to implement profound structural reforms, transforming it from a mere written document into an economic lever capable of transforming the production and employment equation and transforming Iraq from a rentier economy to a productive and competitive one, provided it is managed efficiently as a comprehensive national mission.

The advisor pointed out that the success of the five-year plan requires a combination of institutional, financial, and executive components, most notably political will embodied in the government program, with direct support from senior leadership, which has worked to protect planning institutions from fluctuations.

He also stressed the importance of providing a binding legislative and regulatory framework to transform the plan into a law that defines objectives, resources, and responsible parties, in addition to ensuring sustainable and diversified funding consisting of oil revenues, private investments, and soft development loans.

Clear performance indicators and periodic monitoring

Saleh explained that the plan relies on precise governance and continuous monitoring based on key performance indicators (KPIs), which are reviewed semi-annually to ensure commitment and actual implementation of projects.

According to Al-Sudani's advisor, the most prominent targeted indicators include "annual GDP growth of no less than 5%, an unemployment rate of no more than 8% annually, an inflation rate of no more than 5%, and a petrochemical sector contribution of 5% to GDP."

He pointed to increasing oil production to 6 million barrels per day, utilizing associated gas by 90%, and increasing the contribution of non-oil sectors to more than 50% of national income. The plan also includes indicators related to the manufacturing, health, education, and infrastructure sectors.

Professional Management and Community Engagement

Saleh added that an important success factor is the formation of specialized implementation teams to manage projects according to international standards (PMI), without quotas or regional distribution. He emphasized the importance of civil society and private sector participation in formulating and implementing the plan, including chambers of commerce and industry and unions.

He concluded by stating that the five-year plan represents a fundamental pillar of sustainable development in Iraq, and requires concerted efforts and genuine national commitment to ensure its transformation into a tangible reality that is reflected in citizens' living standards and overall economic growth.

In addition, the Ministry of Planning announced that the total revenues expected to be achieved during the five-year development plan period (2024-2028) amount to approximately 710 trillion Iraqi dinars.

The ministry's official spokesperson, Abdul Zahra Al-Hindawi, told the official agency that the largest portion of these revenues will come from the oil sector, with oil revenues expected to reach approximately 631 trillion dinars, while non-oil revenues are estimated at approximately 79 trillion dinars.

Al-Hindawi added that the five-year plan estimated the volume of investments required to achieve the targeted economic growth rate of 4.24% during its implementation period at more than 241 trillion dinars.

Meanwhile, economic researcher Ali Daadoush asserted that the recently prepared five-year plan is one of the best studies to address the reality of the Iraqi economy, addressing key economic challenges and presenting future investment opportunities to advance the country's development.

In an interview with Al-Eqtisad News, Daadoush explained that the plan sets ambitious macroeconomic trends, most notably achieving a targeted growth rate of 5% to 6% on an annual average, in addition to targeting natural inflation, stabilizing the exchange rate, and reducing the general budget deficit.

He pointed out that the plan focused on productive sectors, particularly agriculture and food industries, by adopting modern irrigation systems and strategic crops with high water returns, and by establishing specialized logistics and manufacturing zones for dates, grains, poultry, and dairy products, with the aim of enhancing import substitution and increasing local added value.

According to Daadoush, the plan also addressed challenges in other sectors, such as the digital economy, payment systems, and financial sector reform, along with private sector development and increased employment opportunities. A "single window" approach was adopted to remove regulatory barriers (such as licenses, taxes, and industrial land allocation) within a period not exceeding 72 hours, in addition to linking technical education to the needs of priority sectors.

Regarding the components of the plan's success, the researcher stressed the importance of having clear governance and issuing a playbook for projects that includes the stages of selection, financing, implementation, monitoring, and evaluation, in addition to shifting from item budgets to program and performance budgets, so that each plan includes a program with performance indicators, a direct supervisor, a specific budget, and clear outputs.

Daadoush concluded his remarks by emphasizing the need to enact a law mandating the implementation of the national plan, in conjunction with the general budget and the government program. He considered this tripartite integration to be the cornerstone of sustainable development in Iraq.

The Ministry of Planning believes that the largest share of capital formation will be allocated to the oil sector, at 27.4%, followed by the housing ownership sector, at 22.5%, and then social development services, at 20.8%.

She pointed out that "the water and electricity sector will constitute 8.6% of the total planned capital formation, while the manufacturing sector's share will be approximately 7.8%  link

Mot:  Yeppers!! - ole ""Mot"" dids it Again!!!!

Mot:  Here We Go Again !!!!!! 

“Tidbits From TNT” Thursday 8-14-2025

TNT:

Tishwash:  The Governor of the Central Bank of Iraq meets with the International Finance Corporation's representative in Iraq.

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, met with Mr. Bilal Al-Saghir, the Resident Representative of the International Finance Corporation (IFC) in Iraq.

During the meeting, they discussed strengthening bilateral relations between the Central Bank of Iraq and the IFC and the importance of cooperation between the two parties, particularly in the field of training banking personnel in Iraq. The two parties intend to sign a memorandum of understanding in this regard in the coming period.

His Excellency the Governor discussed the proposal to establish a leasing company with local and foreign participation. This is a financial system used to provide financing to projects and individuals without the need to directly purchase assets such as machinery and industrial equipment, vehicles, offices, and warehouses. This proposal supports emerging projects and small and medium-sized enterprises seeking easy and flexible financing.

The two parties discussed the importance of implementing the banking reform plan being implemented by the Central Bank of Iraq with the assistance of Oliver Wyman, within international standards that will enhance the soundness of the banking sector internationally and restore the ability of a group of Iraqi banks to conduct international transactions.
 
Central Bank of Iraq
Media Office
August 13, 2025  link

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Tishwash:  Iraq and Turkey agree to form a joint customs committee to enhance trade cooperation.

Iraq and Turkey agreed on Wednesday to form the Iraqi-Turkish Joint Customs Committee, as part of strengthening cooperation between the two countries' customs authorities. This will contribute to developing trade relations and facilitating the movement of goods across border crossings.

A statement issued by the Iraqi Embassy in Ankara stated that "the agreement came during a meeting held in the Turkish capital, Ankara, chaired by Sami Abdul-Hussein Radhi, Advisor to the Prime Minister of Iraq for Border Ports, Customs and Transport Affairs, and Sezai Oçarmak, Deputy Minister of Trade of Turkey. The two sides discussed mechanisms for raising the efficiency of work at border gates and developing customs cooperation."

The meeting, according to the statement, addressed "ways to facilitate trade flows, increase the capacity of ports, and support infrastructure projects related to bilateral trade and transit."

The two sides affirmed their "keenness to raise the volume of trade exchange to $30 billion, enhance joint investments, and expand areas of cooperation through the Development Road project and the establishment of new customs ports."  link

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Tishwash:  Al-Sudani: Iraq's investments exceeded $100 billion in two years. 

Prime Minister Mohammed Shia al-Sudani confirmed on Wednesday that Iraq's investments in two years have exceeded $100 billion.

The Prime Minister's media office said in a statement that "Prime Minister Mohammed Shia al-Sudani received, on Wednesday, representatives of the coalition of six companies that have applied to rehabilitate, develop and operate Baghdad International Airport, in the presence of representatives of the International Finance Corporation (IFC), which is advising the Ministry of Transport on the project."

The Prime Minister blessed "the holding of the conference to review the projects of the IFC, which is an important partner with Iraq in joint work and the implementation of many projects in various stations and sectors," appreciating "its efforts in completing the work in a manner befitting Baghdad International Airport, given its importance to Iraq, which is witnessing a state of recovery, stability, development and reconstruction movement in all governorates."
He stressed that "Iraq's distinguished geographical location has prompted us to invest in air transport, aircraft transit and service to passengers," noting "the existence of many government projects in this field."

He stressed that "Iraq is currently attracting significant Arab and foreign investments in various sectors, exceeding $100 billion over the two years of the government's term." He explained that "Baghdad Airport is a showcase for the capital, and must receive the necessary rehabilitation and development, as well as management that provides services and generates revenues."

He indicated that "there is a real and clear opportunity to increase the number of passengers from abroad to Baghdad," pointing to "the need to reconsider the management style of the government sector, in airports and most sectors."

He stressed that "the opportunity is available at Baghdad Airport, and at the airports of Najaf, Basra, Nasiriyah and Mosul, and we have chosen successful experiences in the region for managing and operating airports," noting that "we have contracted with the International Finance Corporation (IFC) to work as a specialized advisory body to prepare the investment portfolio for the development and operation of Baghdad Airport."

The Prime Minister welcomed "all Arab and foreign companies in Iraq, as a message that it is a safe and attractive environment for investment," noting that "the government will provide support, assistance and all facilities for the companies' work."

He explained that "the project to rehabilitate, develop and operate Baghdad Airport is based on a desire to find the best coalition, company or investor that can provide a successful model for the airport."  link

Mot:  Big plans today !!!!!

Mot: Don't Worry!!! -- It's a Scottish Thingy!!! 

“Tidbits From TNT” Sunday 8-10-2025

TNT:

Tishwash:  The Central Bank to Al-Maalouma: Our measures for banks are necessary, but not strict.

A member of the Central Bank's Board of Directors, Ahmed Brihi, confirmed today, Saturday, that the standards set by the bank to reform the banking sector are not strict or prohibitive, but rather aim to protect banks from collapse and ensure the safety of depositors' funds, in addition to preserving Iraq's international financial relations.

Brihi said in a statement to Al-Maalouma Agency, “The banking reform standards approved by the Central Bank related to private banks are not strict measures as promoted, but rather are necessary steps aimed at ensuring financial stability and preventing banks from collapsing.”

He added, "A number of private banks faced circumstances that disrupted their financial operations, which required the Central Bank to establish regulatory standards to protect them and depositors' funds."

He pointed out that "these standards also take into account the importance of maintaining the Central Bank's international financial relations, which represent a decisive factor in Iraq's monetary and financial stability."  link

Tishwash:  The Central Bank of Iraq's fines on banks and financial companies exceed 66 billion. 

The Central Bank of Iraq announced on Saturday that fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 66 billion Iraqi dinars during the first half of 2025.

Statistics from the bank showed that “the fines imposed on banks and financial companies during the past six months, starting from January/November until the end of last June, amounted to 66 billion, 210 million, and 955 thousand dinars,” indicating that “the fines also included 77 administrative penalties for these banks and non-banking institutions, distributed between warnings, alerts, and grace periods.”

The bank stated that, "These fines decreased from the same period last year, which amounted to 181 billion, 842 million, and 854 thousand dinars, while the penalties amounted to 151, distributed between warnings, cautions, and grace periods."

The bank did not name the banks subject to the fines or administrative penalties. There are approximately 51 private banks, including 23 private commercial banks and 28 private Islamic banks.  link

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Tishwash:  Al-Sudani announces decisive steps to reform Iraqi banks and restore confidence in the financial sector.

Prime Minister Mohammed Shia al-Sudani affirmed on Sunday the continuation of the comprehensive banking reform process through three basic steps, emphasizing the need for implementation to be based on a balanced vision that takes into account the specificities of Iraqi reality and ensures enhanced confidence in the banking sector.

A statement issued by his office, received by Al-Mada, said, "Al-Sudani was briefed on the latest developments related to the banking reform paper, particularly those related to private banks, appreciating the efforts made by the Central Bank of Iraq in preparing the document, which aims to enhance financial stability, achieve transparency, and raise the efficiency of the banking sector."

The statement indicated that "the Prime Minister paid special attention to the observations contained in the letter from the Iraqi Private Banks Association dated August 3, which included challenges facing local banks in implementing some provisions of the document, particularly those related to capital increase requirements, the adoption of a strategic partner, the costs of contracting with foreign companies, as well as the binding timelines. Accordingly, Al-Sudani called for adopting a participatory and consultative approach between the Central Bank and Iraqi banks by forming joint technical committees to review reform requirements and ensure their compatibility with the national financial and economic reality, in a manner that maintains a balance between reform requirements and the capabilities of local banks and protects the interests of investors and workers in this vital sector."

Al-Sudani explained that "the three approved steps begin with opening an expanded dialogue between the Central Bank and the banks to clarify the technical aspects of the document and discuss possible implementation mechanisms and their gradual progression.

This includes taking into account the specificity of the Iraqi reality when applying international standards, while committing to reform in principle and formulating standards in a manner that enhances confidence in the banking sector. This is followed by reassuring the banking community through clear messages that the goal of reform is empowerment, not exclusion, and that the doors of discussion remain open to serve the national economy."

For his part, banking expert Majid Abdul Hamid told Al-Mada that "the document represents a necessary step to raise the efficiency of the banking sector and improve the business environment in Iraq, but its success depends on gradual implementation and linking each stage to a clear support plan." He explained that the immediate implementation of some provisions, such as increasing capital or requiring a strategic partner, could place small banks under significant financial pressure, which requires granting them appropriate periods of time to adapt.

Economist Ayad Al-Rawi explained to Al-Mada that "banking reform is part of a broader economic reform, and that raising technical standards for banks will boost the confidence of depositors and investors. However, he warned that the lack of effective communication with the public could lead to unjustified fears and sudden withdrawals of deposits."

He stressed that "gradualness and transparency in announcing measures will be key to the success of reform, calling for a supportive legislative and financial environment to reduce risks to the local market."

As the government continues its path of banking reform, the stakes remain on the ability of the relevant parties to balance adherence to international standards with their adaptation to Iraqi market conditions, thus preserving the sector's stability and enhancing its role in financing development and supporting the national economy.  link

Mot: . OK!!! --- Bringing OUT the ""RV Clock""

Mot: .. can ya sing um????