“Tidbits From TNT” Tuesday Morning 5-6-2025

TNT:

Tishwash:  Al-Sudani confirms the continuation of banking reform and directs bank managements to simplify procedures..

Prime Minister Mohammed Shia al-Sudani chaired a meeting on Monday with the chairmen of the boards of directors of Iraqi banks. The meeting discussed mechanisms for implementing the banking reform plans prepared by the government as part of comprehensive economic sector reforms.

Al-Sudani said in a statement received by Al-Eqtisad News that "all sectors of the state are linked to the existence of an effective and flexible banking system that relies on modern technologies." He pointed out that the government has adopted comprehensive plans for banking reform and contracting with private financial auditing companies, which include all banks, and has made great strides in implementation.

 He indicated that the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks.

He pointed to "the formulation of a clear roadmap to address the situation of the private banking sector, as a partner in development," stressing the need for cooperation during the next phase to take effective steps in reforming the economy. He emphasized the state's distancing from detailed intervention in sectors and adopting the role of a regulator, indicating the need to work on intervening in all mega projects, as well as supporting local productive sectors, and absorbing the imported cash flow in providing domestic goods and services to citizens to be an alternative to imports, and to ensure support for local investment.

The Prime Minister directed banks to "simplify procedures, participate broadly in the development process, participate as investors in all available opportunities, move toward partnerships with foreign companies, and work to build trust with citizens, which will help ensure they feel secure depositing their money in banks."

For their part, the heads of the Iraqi banks’ boards thanked the government for its “support for the banks and its assistance in solving their problems, and they confirmed the rise in credit and financial accreditation indicators.

They also pointed to the rise in trading via electronic payment from (1.7) trillion dinars in 2020, to reach (21) trillion dinars in 2024, and they confirmed the readiness to localize the salaries of private sector workers, and their commitment to restructuring Iraqi banks and the (Oliver Wyman) plan, as it will be a comprehensive solution to most of the problems that the banking sector suffers from.”  link

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Tishwash:  The National Bank of Iraq: A leadership based on governance and transparency

The National Bank of Iraq affirmed on Tuesday its commitment to the principles of governance and transparency as a fundamental rule governing its financial transactions, adhering to strict standards. It identified what it described as the "most valuable currency" in this vital sector, while pledging to consistently comply with legal and regulatory requirements and international standards. 

In a statement received by Al-Eqtisad News, the bank stated, "The National Bank of Iraq's commitment to the principles of governance and transparency is one of its most prominent factors in the Iraqi banking sector. These principles form the fundamental foundation upon which the bank builds its strong relationships with clients, partners, and various stakeholders, and have contributed to enhancing its credibility in all its financial transactions." 

 He added, "Over the years of its operation in the Iraqi market, the National Bank of Iraq has proven that it is not just a financial institution, but a strategic partner for its clients and a loyal guardian of their savings and financial future." He expressed his belief that "trust is the most valuable currency in this vital sector, and this commitment is an integrated approach to work that is embodied in the finest details of its operations and services, and bears fruit in the form of quality and distinction, thereby strengthening its leading position in the market." 

 He explained that "this commitment is clearly demonstrated by the bank's ongoing efforts to ensure that financial operations are managed in accordance with international best practices, setting strict standards to ensure transparency and accountability in all its transactions." He explained that "clear examples of this approach include the bank's ISO 9001:2015 certification in the areas of customer care services and bank transfer operations, confirming that the bank implements an integrated quality management system, with a focus on providing an exceptional banking experience for its customers, based on efficiency, reliability, and attention to the smallest details." 

 He explained that "the bank's commitment to quality and continuous improvement did not come out of nowhere, but rather is the result of a strategic vision that places the customer at the heart of its concerns. Implementing ISO 9001:2015 standards has had a positive impact on the smoothness of internal operations, contributed to raising efficiency and effectiveness, reducing errors, and lowering operating costs. Most importantly, it has strengthened the bank's ability to comply with legal and regulatory requirements, and opened up broader horizons for cooperation and partnership with global financial institutions, benefiting from international recognition of its quality and reliability."

 He continued, "In the context of this relentless pursuit of excellence, the bank's efforts culminated in receiving the 'Excellence Award' from Citi Bank, in recognition of its superior performance in managing incoming and outgoing financial transfers. This clearly reflects its proficiency in implementing precise and organized procedures that ensure full compliance with international standards in the execution of financial transactions." 

He continued, "The National Bank of Iraq's continued focus on the principles of good governance and transparency as an integral part of its long-term strategy is supported by the development of its internal systems and the adoption of the latest technologies in the financial sector to enhance the levels of security, speed, and reliability of its banking services." 

The bank reiterated its "commitment to providing innovative banking services that meet the changing needs of its customers and enhance their confidence by offering integrated financial solutions that support individuals and businesses alike, while adhering to global best practices."

The bank affirmed its "goal to be the first choice for all customers seeking trust, reliability, and excellence in banking services."  link

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

Tishwash:  Rafidain Bank in a new look: Al-Sudani announces a new banking era in Iraq

Prime Minister Mohammed Shia al-Sudani confirmed on Monday that the government has adopted comprehensive plans for banking reform and contracting with private financial auditing firms, covering all banks. He also indicated that the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks.

A statement from the Prime Minister's Office, received by Shafaq News Agency, stated that "Al-Sudani chaired a meeting of the heads of the boards of directors of Iraqi banks, during which the mechanisms for implementing the banking reform plans prepared by the government as part of comprehensive reforms of the economic sector were discussed."

Al-Sudani stressed, according to the statement, that "all state sectors are linked to the existence of an effective and flexible banking system that relies on modern technologies," noting that "the government has adopted comprehensive plans for banking reform and contracted with private financial auditing companies, covering all banks, and has made great strides in implementation." He indicated that "the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks."

He pointed to "the formulation of a clear roadmap to address the situation of the private banking sector, as a partner in development," stressing "the need for cooperation during the next phase to take effective steps to reform the economy," and affirming "the state's distancing from detailed intervention in sectors and assuming the role of regulator."

Al-Sudani pointed to "working to integrate the private sector and foreign companies in all major projects, as well as supporting local productive sectors and absorbing the imported cash flow into providing domestic goods and services to citizens as an alternative to imports and ensuring support for local investment."

The Prime Minister directed banks to "simplify procedures, participate broadly in the development process, participate as investors in all available opportunities, move toward partnerships with foreign companies, and work to build trust with citizens, which will help ensure they feel secure depositing their money in banks."

For their part, the heads of the Iraqi banks’ boards thanked the government for its support to the banks and its assistance in solving their problems. They confirmed the rise in credit and financial accreditation indicators, and pointed out the rise in trading via electronic payment from (1.7) trillion dinars in 2020 to reach (21) trillion dinars in 2024. They confirmed their readiness to localize the salaries of private sector workers and their commitment to restructuring Iraqi banks and the (Oliver Wyman) plan, as it will be a comprehensive solution to most of the problems that the banking sector suffers from, according to the government statement. link

Mot:  Two priests decided to take a vacation in Hawaii

Two priests decided to take a vacation in Hawaii. Wanting to really relax, they agreed — no collars, no black suits, nothing that would give away they were clergy.

As soon as their plane landed, they hit a local shop and bought the wildest tourist outfits you could imagine — flashy shirts, loud shorts, sandals, sunglasses — the whole package.

The next morning, they hit the beach, dressed head to toe like total tourists. Sitting back in their chairs, sipping drinks, soaking in the sun — life was perfect.

That’s when a stunning blonde in a tiny bikini strolled right past them, smiled sweetly, and said,

“Good morning, Father. Good morning, Father.”

She nodded at each of them and walked away like it was the most normal thing in the world.

The priests were floored. How on earth did she know?

Determined not to be recognized, the next day they went back to the store and bought even crazier outfits — the kind you can hear before you see! Dressed in their new, over-the-top beachwear, they returned to the sand, ready to blend in.

But wouldn’t you know it — the same blonde appeared, this time in an even tinier string bikini. She walked right up to them, flashed a smile, and once again said,

“Good morning, Father. Good morning, Father.”

Finally, one priest couldn’t take it anymore and asked,

“Excuse me, young lady, we are priests — but how in the world did you know?”

She laughed and replied,

“Oh, come on, Father! It’s me — Sister Angela!”

MilitiaMan & Crew: Iraqi Dinar Update-Sovereignty-New Banking Era-IMF-World Bank-AI-Global Economy-IQD-Foreign Exchange

MilitiaMan & Crew:  Iraqi Dinar Update-Sovereignty-New Banking Era-IMF-World Bank-AI-Global Economy-IQD-Foreign Exchange

5-5-2025

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=3GibjaVyOtk

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

Minister Of Finance: The Iraqi Economy Is Expected To Achieve 5% Growth In Non-Oil GDP In 2024.
 
Monday, May 5, 2025 13:00 | Economic     Number of readings: 152  Baghdad / NINA / Finance Minister Taif Sami announced on Monday that the  Iraqi economy recorded a 5% growth in non-oil GDP in 2024, while indicating that the budget deficit is low and does not pose a threat to Iraq's public debt.
 
"A high-level government delegation, including Central Bank Governor Ali Al-Alaq, accompanied us, and
discussed the latest economic and financial developments in Iraq with an International Monetary Fund mission during a meeting held in the Jordanian capital, Amman," Sami told the official agency.

She added that  "the IMF mission found several positive indicators related to the Iraqi economy,
most notably a 5% growth in non-oil GDP in 2024,

driven by growth in the agricultural sector and increased public spending," indicating that  
"expectations indicate continued growth of 4% in 2025."

She added, "The level of oil GDP will remain dependent on OPEC decisions regarding production ceilings and global crude oil prices."
 
Regarding the fiscal deficit, Sami explained that "the deficit reached 5 trillion dinars in 2024, equivalent to 1.5% of GDP, excluding debt repayments and overdue payments for investment and energy projects,"

noting that "this is a low level that does not negatively impact the public debt ratio,
according to International Monetary Fund estimates."

The Minister of Finance stressed the "need to restructure government banks to enable them to absorb government financing instruments and stimulate the market," noting that
 
 "the Ministry of Finance, in cooperation with the International Monetary Fund,
 
     will contract with consulting firms to support the Public Debt Department, in addition to
     appointing new staff with advanced degrees
 
to activate the public debt management and financial analysis system."

She indicated that " the International Monetary Fund expressed its readiness to provide technical and advisory support to Iraq, particularly in the areas of
 
     public debt management,
     tax reform, and
     determining the most appropriate tax systems for the Iraqi social situation,
 
through the Middle East Technical Assistance Center (METAC)," explaining that
 
"the delegation and the International Monetary Fund stressed the importance of
 
     strengthening the relationship with foreign correspondent banks in the field of
     financing foreign trade, as well as
 
     supporting the use of the Iraqi dinar in economic transactions
     to maintain the stability of the local currency."  /End9       https://ninanews.com/Website/News/Details?key=1224836  

Agriculture: Iraqi Crops Have Reached Markets In The Gulf, Jordan, And Europe 

Iraqi agricultural crops - Money and Business  Economy News – Baghdad   The Ministry of Agriculture announced on Sunday that it exported more than 1.5 million tons of surplus agricultural produce last year.  It noted that the use of protected agriculture and modern irrigation contributed to
 
     increased production and the availability of  surplus produce for export.
 
The ministry also confirmed that it
is working to hold several exhibitions and meetings with European embassies
to open markets for Iraqi agricultural products in the European Union.
 
The Undersecretary of the Ministry, Mahdi Sahar Al-Jubouri, said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", that
 
"the data completed for the export of surplus agricultural commodities during the year 2024 was
 
     estimated at more than 1,500,000 tons,
     led by dates with more than 650,000 tons, then
     vegetable crops with about 308,000 tons, and among these crops were
          potatoes, the first crop, then tomatoes,
          then eggplant, peppers and cucumbers, in addition to several crops such as
          amber rice and jasmine that were exported abroad in quantities." He added,
 
"This surplus was during the 2024 season, and
 
we expect it to exceed this amount and this shift as a result of the
 
     use of protected agriculture for vegetable crops, in addition to the
     use of modern irrigation with fixed sprinklers and drips, and
 
this was reflected in the increase in production of agricultural crops in general." He pointed out that
 
"large quantities of fodder crops were exported,
including clover, alfalfa, and tobacco, after meeting local needs for them,
 
especially with the increase in livestock numbers during the recent period due to the expansion of cultivated areas using the modern irrigation system."

He pointed out that"Iraqi crops are exported extensively to Gulf countries, Jordan, and European Union countries,
 
with the ministry working to hold several exhibitions and meetings with European embassies to open markets for Iraqi agricultural goods in the EU." He stressed that
 
"the quantities exported during the first four months of 2025 exceeded 300,000 tons of various agricultural commodities," noting that
 
"the quantity is subject to increase, exceeding 1,500,000 tons,
which will be a major shift in the process of exporting agricultural commodities abroad."
https://economy-news.net/content.php?id=55112  

 From Wasted Fire To Productive Energy... Rashidiya Gas Revives The Taji Station And Saves The Environment.
 
Economy 3-05-2025, Baghdad Today – Baghdad  In the heart of Baghdad, where gas has been burning for decades in the Rashidiya field, turning into smoke that clouds the city's air and is wasted for no good,
 
a new story has begun, written with decades of will and planning.
 
This vital resource has stood witness to the absence of optimal exploitation and to years of neglect and delay.
 
But today the scene has changed.
 
That wasted fire is being transformed into a flowing energy that lights up Iraqi homes and
revives hope in a summer that has long been marked by power outages and the suffering of citizens.

 In the same context, the Middle Oil Company announced today, Saturday (May 3, 2025), in Baghdad, that it had supplied the Taji power station with 17 megawatts of gas, which contributed to the station’s production reaching about 80 megawatts to serve citizens, while indicating that the
 
Minister of Oil, Hayan Abdul Ghani, directed work to
increase the quantities of gas supplied to the power stations, especially with the onset of summer.
 
The company's general manager, Mohammed Yassin, told Baghdad Today,
 
"Gas has been flared in the Rashidiya field in Baghdad since the 1980s.
 
However, the Central Oil Administration, under the direction of Minister Al-Sawad, worked to maintain the equipment and units used for gas compression.
 
Gas was produced to supply the Taji power station with the best types,
which contributed to the production of 80 megawatts per day." 

He stressed that "these efforts have resulted in gas production and environmental protection from its continued flaring," noting
 
"the company's determination to increase gas production from its fields in the governorates."
 
The Rashidiya field is one of the oldest gas fields in the capital, Baghdad, having been operational since the 1980s.
 
Despite its rich gas resources, this resource has been flared for decades without any real investment, causing significant economic losses and accumulated environmental damage.
 
Given the growing need for electricity, especially during the summer,
the importance of harnessing this wasted gas has become clear, particularly at a time when the national electricity system  faces major challenges related to production and distribution.     https://baghdadtoday.news/273439-.html    

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

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

Good evening Dinar Recaps,

KEY CRYPTO EVENTS YOU CAN’T MISS THIS WEEK: WILL BTC DIP?

This week is packed with key events that could have an impact on the crypto sector. Don’t miss out—here’s what you need to know.

May 7 – Fed Interest Rate Decision, Ether’s Pectra upgrade

All eyes are on the Fed’s interest rate decision, which would affect the market sentiment across the financial and crypto sector.

The Fed is expected to keep the interest rates unchanged at 4.25–4.5%. While inflation could push the Fed to keep rates steady, President Trump’s push for a rate cut could influence the decision.

Trump, in a recent post, pointed to strong jobs data and falling prices as reasons for a rate cut. He also credited his tariff policy for bringing in billions.

All Eyes on Fed Chair’s Comments

However, there’s something more important than the rate decision itself that investors and analysts will be watching closely: What the Fed Chair has to say. Specifically, any comments on U.S. tariff policies are highly expected from Powell.

In its last meeting, it noted steady economic growth, low unemployment, and a strong job market. However, inflation remained high, and uncertainty had also increased. Bitcoin dropped slightly after the last Fed rate update, falling from over $84,000 to around $83,500.

The Fed has five meetings remaining on its 2025 calendar. On the same day, Ethereum’s Pectra upgrade is all set to go live, which will impact Ether’s price. It includes 11 improvements, mainly focused on making wallet use and recovery easier, and raising the maximum stake for one node from 32 ETH to 2048 ETH.

May 8 – US Initial Jobless Claims

The US initial jobless claims will provide fresh insights into the labor and market health. The report shows how the US job market is performing. Fewer jobless claims would mean that the economy is strong, while more claims would indicate the economy is weak.

May 13, 15 – US CPI and PPI Data

The US CPI will come in on May 13, and on May 15, the PPI report is scheduled. Both reports will be closely watched as key inflation signals by both traders and policymakers.

The Consumer Price Index (CPI) dropped by 0.1% in March, while Core CPI, which excludes food and energy, rose just 0.1%. Bitcoin had climbed slightly above $82,000 over the news.

The recent PPI report on April 11, 2025, showed a 0.4% month-over-month decline. Bitcoin rose 4%, reaching $82,500 following the data.

Bitcoin dropped below $94,000 ahead of the Fed decision. It has dropped 3% over the weekend, from $96,926 to $94,162, and could drop to $92K next.

@ Newshounds News™
Source:  Coinpedia

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BRICS ABANDONS US DOLLAR, SETTLES 65% OF TRADE IN LOCAL CURRENCIES

• Russia confirms 65% of BRICS trade is now settled in local currencies, not the US dollar.

• Only one-third of BRICS trade now uses the dollar, signaling a dramatic shift in global finance.

• The bloc is pushing for independent payment systems to insulate from US sanctions.

Russia’s Foreign Minister, Sergey Lavrov, announced that more than 65% of trade settlements among BRICS nations are now conducted in local currencies rather than the US dollar. Only about one-third of all trade payments are still made in dollars — a sharp decline that points to the greenback’s weakening grip on global trade.

“National currencies already account for more than 65% within the framework of trade among BRICS members. The dollar’s share declined to one-third against such background.”
— Sergey Lavrov

BRICS: Trade Shift Toward Local Currencies

The trend reflects growing resistance to US sanctions and tariffs. Member states are choosing local currencies to protect their economies and exert greater sovereignty over financial systems.

Lavrov elaborated during a meeting in Brazil:

“The meeting of BRICS finance ministers and central banks governors was held not long ago, where tasks of forming independent payment systems were reviewed... It was assigned to proactively use national currencies in mutual trade.”

Global Impact and De-Dollarization Momentum

Many non-BRICS countries are closely watching this trend. Nations in Africa, Eastern Europe, and Asia are reportedly evaluating the potential to follow BRICS’ lead in reducing reliance on the US dollar.

If these nations shift away from the dollar for trade settlements, the impact on the US economy could be severe, especially if the US government fails to keep the dollar central to global trade.

@ Newshounds News™
Source:  Watcher Guru

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Will U.S. Basel III Unleash Gold? BIS' New Reset Plan

Will U.S. Basel III Unleash Gold? BIS' New Reset Plan

Daniela Carbone:  5-5-2025

We could see a reset of some type that changes the whole system,” warns David Morgan, publisher of The Morgan Report. In an interview with Daniela Cambone, Morgan discusses the looming failure of the debt-based fiat monetary system, which he believes will ultimately lead to a financial crisis.

“We are not where the market says we are… the financial system has been illogical for a very long time.” He adds that we’re now in a “brisk walk” phase of gold accumulation, with central banks buying gold “hand over fist” as the public slowly begins to catch on.

 Meanwhile, “Silver is the Achilles heel of the entire financial system,” he says, indicating the metal’s disruptive potential to the current fiat structure.

 Key Facts:

 Silver is the Achilles heel of the entire financial system.

The run to gold has begun.

 Monetary reset is coming.

 The BIS has a plan for a new monetary system.

Chapters:

 00:00 Gold run has begun

05:29 Silver’s potential

07:54 Fiat currency

 09:46 Debt market

11:39 New financial system

12:22 Monetary reset

 13:35 Lower U.S. dollar

14:37 Strength of euro

 16:09 Gold bull market

16:16 Concluding words

https://www.youtube.com/watch?v=luHPPH2IaK8

U.S. Basel III Deadline Approaches as Central Banks Brace for Gold

U.S. Basel III Deadline Approaches as Central Banks Brace for Gold

Taylor Kenny:  5-4-2025

Basel III, gold, and the decline of the U.S. dollar—in this video, Taylor Kenney explains how global banking rules are quietly repositioning gold from a commodity to tier one money.

The world of finance and banking is undergoing a significant shift, with the new Basel III regulations repositioning gold from a commodity to tier one money.

This change, largely overlooked by main stream media, has profound implications for the global financial system, inflation, and the future of U.S. monetary dominance.

Taylor Kenney of ITM Trading explains that Basel III, an international framework for bank regulations, is driving this change.

The new rules require banks to hold more capital in the form of liquid assets, such as gold, to ensure financial stability in the face of potential crises.

This change has prompted central banks worldwide to stockpile physical gold, recognizing its enduring value and its role as a safe haven during economic turbulence.

The reclassification of gold as a tier one asset under Basel III signifies a return to its historical role as a reserve asset. Gold’s unique characteristics, including its scarcity, divisibility, and universal acceptance, make it an ideal store of value. Moreover, unlike fiat currencies, gold is not subject to counterparty risk, making it an attractive option for central banks seeking to bolster their reserves.

The shift towards gold as a reserve asset exposes the weaknesses in the current financial system. The U.S. dollar’s status as the world’s primary reserve currency has long been a cornerstone of U.S. economic power. However, the growing recognition of gold’s value and the increasing debt levels of the U.S. government have raised questions about the long-term viability of the dollar’s dominance.

Furthermore, the new regulations could have significant implications for global markets and inflation. As central banks accumulate more gold, demand for the precious metal is likely to increase, driving up its price. This, in turn, could lead to inflationary pressures, as the cost of goods and services linked to gold, such as jewelry and electronics, rises.

Additionally, the shift towards gold as a reserve asset could lead to a rebalancing of global economic power. Countries with significant gold reserves, such as Russia and China, could see their influence grow, potentially challenging the U.S.’s monetary dominance.

In conclusion, the Basel III regulations are driving a significant shift in the global financial system, repositioning gold as a tier one asset and challenging the U.S. dollar’s status as the world’s primary reserve currency.

 This change has profound implications for global markets, inflation, and the future of U.S. monetary dominance. As central banks stockpile physical gold, investors would be wise to take note of this trend and consider its potential impact on their portfolios.

https://www.youtube.com/watch?v=nEzdg7XMbx8

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

Economist: Jordan Is The Biggest Beneficiary Of Washington's Decisions Against Iraqi Banks.
 
May 4, 15:08  Information/Baghdad..  Economic expert Munir al-Obaidi confirmed on Sunday that the
 
US decision to restrict the operations of a large number of Iraqi banks, on the pretext of dollar smuggling to China and Iran, did not achieve its objectives.
 
Instead, it led to counterproductive results, increasing the volume of remittances to those same countries.

Al-Obaidi said in a tweet followed by Al-Maalouma Agency,
 
"The US authorities had justified their decision by the fact that a
large portion of dollar sales in Iraq go to China,
 
which prompted them to suspend a number of Iraqi banks from foreign transactions,
while maintaining the activity of foreign banks, especially Jordanian ones."  Al-Obaidi pointed out that
 
"official figures reveal a clear contradiction in this argument,
as the volume of imports in the first quarter of 2025 reached approximately $4 billion,
compared to $3.2 billion in the first quarter of 2023, i.e.,
before restrictions were imposed on Iraqi banks."  He continued,
 
"What actually happened was the exclusion of Iraqi banks from external financial activity,
while the door was opened wide to foreign banks, particularly Jordanian ones,
which rushed to expand into the Iraqi market and benefit from the remittance flows."  Al-Obaidi concluded by saying:
 
"It seems that the issue is not related to trade or monetary policy,
 
but rather to international relations
for which the issue of dollar smuggling was used as a cover,
allowing foreign banks to control the Iraqi market,
without changing the beneficiaries or transfer trends."  End/25     
  
https://almaalomah.me/news/97779/economy/اقتصادي:-الأردن-المستفيد-الأكبر-من-قرارات-واشنطن-ضد-البنوك-ا  

Al-Nusairi: Comprehensive banking reform means modernizing and developing banks, ensuring their compliance with international standards, and transitioning to a rapidly growing economy.
 

Uses  Economy News – Baghdad   Economic and banking advisor Samir Al-Nusairi confirmed that the 
banking reform project launched by the Central Bank last month in cooperation with the
 
     government and the
     global consulting firm Oliver Wyman
 
was held at a ceremony attended by the Prime Minister.

Al-Nusairi said in a televised interview followed by "Al-Eqtisad News" that the banking reform project aims primarily, within the specified timeframes, to
 
     modernize and develop the private banking sector,
     comply with international standards, transition to a rapidly growing national economy,
     expand digital transformation,
     enhance financial inclusion,
     stimulate electronic payments,
     strengthen cybersecurity,
     use artificial intelligence to analyze and ensure the transparency of banking data,
     create a financial center, and
     authorize and license digital banks. He added that
 
it achieves 
     stimulating and sustainable returns for investors,
     creates a fair competitive environment in the banking market, and
     restores confidence in the banking sector.

 He explained that the private banking sector achieved good business results in 2024,
despite 50% of our banks being subject to sanctions and restrictions on the use of the US dollar.
 
The ratio of credit granted to deposits reached 67.9%, which means the
banks are moving towards the real work of financing and investing in deposits.
 
The banks’ capital rose to 20 trillion dinars,
     an increase of 8.7% due to the
     implementation of the Central Bank’s instructions to raise capital to 400 billion dinars and
     setting September 30, 2025 as the deadline for increasing the capital of the remaining banks.
 
Al-Nusairi pointed out that the objectives set for banking reform are in line with the main and sub-objectives of the Central Bank's third strategy for the years 2024-2026,
 
which comprises
     7 main objectives,
     24 sub-objectives, and
     75 initiatives to achieve these objectives.
 
The Central Bank's management is working to implement them
     in accordance with approved policies and programs and
     in cooperation with relevant authorities.
 
views 389     Added 05/04/2025 - 10:16 AM  https://economy-news.net/content.php?id=55098  

Economist: Jordan Is The Biggest Beneficiary Of Washington's Decisions Against Iraqi Banks.
 
 May 4, 15:08  Information/Baghdad..Economic expert Munir al-Obaidi confirmed on Sunday that the
 
US decision to restrict the operations of a large number of Iraqi banks,
on the pretext of dollar smuggling to China and Iran,
did not achieve its objectives.
 
Instead, it led to counterproductive results,
increasing the volume of remittances to those same countries.
 
Al-Obaidi said in a tweet followed by Al-Maalouma Agency,
 
"The US authorities had justified their decision by the fact that a
large portion of dollar sales in Iraq go to China,
 
which prompted them to suspend a number of Iraqi banks from foreign transactions,
while maintaining the activity of foreign banks, especially Jordanian ones."  Al-Obaidi pointed out that
 
"official figures reveal a clear contradiction in this argument,
as the volume of imports in the first quarter of 2025 reached approximately $4 billion,
compared to $3.2 billion in the first quarter of 2023, i.e.,
before restrictions were imposed on Iraqi banks."  He continued,
 
"What actually happened was the exclusion of Iraqi banks from external financial activity,
while the door was opened wide to foreign banks, particularly Jordanian ones,
which rushed to expand into the Iraqi market and benefit from the remittance flows."  Al-Obaidi concluded by saying:
 
"It seems that the issue is not related to trade or monetary policy,
 
but rather to international relations
for which the issue of dollar smuggling was used as a cover,
allowing foreign banks to control the Iraqi market,
without changing the beneficiaries or transfer trends."  End/25     
  
https://almaalomah.me/news/97779/economy/اقتصادي:-الأردن-المستفيد-الأكبر-من-قرارات-واشنطن-ضد-البنوك-ا 

Economist: Cash Liquidity Is Available, And The Currency Auction Is Further Strengthening It At Banks.
 
May 4 09:24  Information/Baghdad...Economic researcher Diaa Abdul Karim said on Sunday that
 
Iraqi dinar liquidity is available at banks and the Central Bank,
with the currency auction working to boost domestic demand.  Abdul Karim told Al-Maalouma,
 
"The currency auction sells approximately $300 million daily,
which increases the liquidity in Iraqi dinars.
 
Baghdad receives monthly oil revenues from the Federal Reserve in dollars,
 
but the Federal Reserve sometimes fails to deliver these revenues to Iraq,
which is a clear violation of financial agreements."  He added, "The process of
 
securing liquidity in its entirety
does not occur through rotating between the dollar and the dinar,
 
but rather through printing more denominations of banknotes
by deducting a percentage of the dollar from oil revenues
in exchange for printing Iraqi currency abroad."  He explained that "the
 
impact of oil prices on
     employee salaries and the
     lack of liquidity
will not be evident at the present time, but rather
 
its repercussions will begin to appear in about six months
if oil prices continue to decline in global markets." End 25N    
  
https://almaalomah.me/news/97730/economy/اقتصادي:-السيولة-النقدية-متوفرة-ومزاد-العملة-يزيد-تعزيزها-لد    

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

Seeds of Wisdom RV and Economic Updates Monday Afternoon 5-5-25

Good Afternoon Dinar Recaps,

HOUSE REPUBLICANS RELEASE DISCUSSION DRAFT OF A BILL TO REGULATE THE CRYPTO INDUSTRY AT LARGE

▪️ The discussion draft released on Monday includes language around the U.S. SEC and CFTC’s authority.

▪️ The draft also includes requirements around disclosures and outlines how “digital commodity exchanges” would be registered.

House Republicans have unveiled a discussion draft of a bill aimed at regulating the digital asset industry, building on years of legislative groundwork.

Leading the initiative are top Republicans on the House Financial Services Committee — Reps. French Hill and Bryan Steil — in collaboration with their counterparts on the House Agriculture Committee — Reps. Glenn "GT" Thompson and Dusty Johnson. The draft was officially released on Monday.

“We made historic progress in the 118th Congress to build bipartisan, bicameral consensus in crafting a functional regulatory framework for digital assets,” said Rep. Hill in a statement.

“Our discussion draft builds upon that work and provides much-needed regulatory clarity for the digital asset ecosystem by protecting consumers and safeguarding the long-term integrity of digital asset markets in the United States.”

Blueprint for the 21st Century

As previously reported by The Block, lawmakers planned to release the draft before a key hearing titled:

“American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century.”

This new draft is expected to mirror last year’s Financial Innovation and Technology for the 21st Century Act (FIT21), which successfully passed the House.

What FIT21 Proposed

FIT21 was designed to clarify the regulatory lines between:

• The Securities and Exchange Commission (SEC)

• The Commodity Futures Trading Commission (CFTC)

It would grant more power and funding to the CFTC to oversee:

• Crypto spot markets

• Digital commodities — particularly Bitcoin

The bill would also establish parameters for how and when the SEC exercises jurisdiction over digital assets.

Key Components of the New Discussion Draft

The updated draft released Monday includes:

• Language detailing the authority of the SEC and CFTC

• A “pathway to raise funds under the SEC’s jurisdiction”

• A “clear process to register with the CFTC for digital commodity trading”

• Disclosure requirements for crypto projects

• Registration guidelines for “digital commodity exchanges”

 @ Newshounds News™
Source:  

~~~~~~~~~

ARIZONA SENATOR VOWS TO REINTRODUCE BITCOIN RESERVE BILL DESPITE GOVERNOR’S VETO

▪️ Governor Hobbs' veto did not deter Senator Rogers, who insists future leadership will embrace Bitcoin's potential.

▪️ Senator Wendy Rogers plans to reintroduce the Strategic Bitcoin Reserve (SBR) bill next session.

▪️ The vetoed bill aimed to allocate retirement funds into Bitcoin, drawing strong reactions from both sides.

Arizona State Senator Wendy Rogers has declared her intent to reintroduce her proposed Strategic Bitcoin Reserve (SBR) bill in the upcoming legislative session, despite a recent veto from Governor Katie Hobbs.

This marks a historic first — the first formal rejection of a crypto initiative by a sitting U.S. governor.

 “Politicians don’t understand that Bitcoin doesn’t need Arizona. Arizona needs Bitcoin. I will refile my bill next session.”
— Senator Wendy Rogers

About the SBR Bill (Senate Bill 1025)

The bill, officially called Senate Bill 1025, would have:

• Authorized the Arizona state treasurer to allocate part of the state’s retirement funds to Bitcoin

• Passed both chambers of the Arizona legislature without changes

• Been vetoed by Governor Hobbs, who cited concerns over volatility and long-term risk

Despite the rejection, Senator Rogers remains confident that future administrations may take a more favorable stance.

“If she vetoes it again, I am sure Governor Andy Biggs will be happy to take credit for signing the bill for this already proven (16 years!) innovation that will protect our wealth.”
— Senator Rogers

Current Exposure to Bitcoin

Interestingly, Arizona’s State Retirement System (ASRS) already has indirect exposure to Bitcoin through investments in Strategy, the largest corporate holder of the asset, according to Julian Fahrer, founder of Bitcoin Laws.

What’s Next for Arizona?

Though SB1025 is currently off the table, crypto legislation in Arizona is far from over. Another proposal — Senate Bill 1373 — is still under review.

🟩 Key Differences in SB1373:  Does not involve retirement funds

• Seeks to allow the state to retain and manage cryptocurrencies obtained through seizures or appropriated assets

However, given Governor Hobbs’ resistance to 

SB1025, it’s unclear whether she would support SB1373 — even though some believe its administrative nature may give it a better shot at approval.

@ Newshounds News™
Source:  CryptoSlate

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

News, Rumors and Opinions Monday 5-5-2025

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 5 May 2025

Compiled Mon. 5 May 2025 12:01 am EST by Judy Byington

Global Currency Reset:

Judy Note: It is my personal opinion that as of Mon. 5 May 2025 money was defiantly moving across the World, Bond Holders were liquid but under strict NDAs not to talk about it and as of Thurs. 1 May 2025 the Dong and Dinar were being exchanged in the Middle East.

Sometime between now and next Wed. 7 May the EBS could activate over our phones and we could get an email giving instructions on how to set up exchange appointments. The information would also be published on various Dinar websites and in this update.

Tier4b (us, the Internet Group) notifications should be out at any time, with appointments starting immediately.

Once notified we would have ten days to set our appointments and until the end of May 2025 to go to those appointments. If we exchange at a bank we could get a lower exchange rate than if we exchanged at an official Redemption Center – which was also the only place where we could redeem Zim Bonds.

All exchanges at official Redemption Centers were to be finished by Sat. 31 May 2025. After that, Zim could no longer be redeemed and we would have to do currency exchanges at a bank using the lower rates.

Read full post here:  https://dinarchronicles.com/2025/05/05/restored-republic-via-a-gcr-update-as-of-may-5-2025/

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

Iraq Reset in Motion, New System Quietly Standing by

589bull:  5-5-2025

Iraq just drained 5-year dormant tax reserves to cover salaries.

Why? Because the Federal Reserve delayed USD transfers and liquidity inside Iraq’s banks has collapsed.

Loans frozen. Salary advances halted. Quiet emergency orders leaked.

Reset in motion.

Old system breaking down.
New system quietly standing by.

Crypto Trader:  Iraq's banks running dry: Ministry resorts to tax funds for wages

Drewsome109:  Wouldn’t Iraq have a higher chance of RV if their economy was doing good/stable? Seems like they’re scrambling for liquidity while the budget hasn’t been passed and keeps getting delayed.

589bull:  Iraq’s liquidity crisis, USD bottlenecks, and delayed budget are part of a controlled collapse to force a shift to the new rate and digital framework.

Source(s):
https://x.com/589bull10000/status/1919076223092662673

https://dinarchronicles.com/2025/05/04/589bull-iraq-reset-in-motion-new-system-quietly-standing-by/

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26   Let's pretend that you wake up and you find out...there's a new exchange rate for the Iraqi dinar and you have the desire to go to a bank and exchange...Be careful with what relative you share this information with.  I told you they're out there looking for you.  I'm not just talking about our government.  Your best friend, that 3rd kissing cousin you haven't seen in 3 years...Do everything possible to protect you and your family.  Limit those that you tell in your family...

Militia Man   Article quote:  "Rafidain Bank... opening to international correspondence channels in preparation for a confident return to the global financial system."  Well they haven't done that at 1310.  Do you think for the life of yourself that they're going to do that at 1310?  If they were why didn't they do it 20 years ago or in the last 2 1/2 years? ...The bank spells it out what they're about to do and where they're headed...The banking reform process is ready to return to the rightful position in the international financial system...

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

Sudani and Alak meet with all bank branches

Nader:  5-5-2025

https://www.youtube.com/watch?v=TNED_4CkAUA

BREAKING: WTH? Is Iraq Hiding Its "Real" Annual Income

Edu Matrix:  5-5-2025

Is Iraq Hiding Its "Real" Annual Income Both the Development Road Project and Religious Tourism in Iraq will increase Iraq's annual revenues beyond expectations.

These project revenues along with manufacturing and oil revenue will help to increase the annual revenues. We know this. However, we did not know that Iraq's yearly tourism revenue is already over $12 billion a year. Iraq is hiding their annual revenues.

https://www.youtube.com/watch?v=YUgmxU6vB7c

Coffee with MarkZ. 05/05/2025

Coffee with MarkZ. 05/05/2025

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Morning. New Month, New week……..let’s go!!!!!

​​Member: Another weekend without the RV… wow ever thought we would still be waiting

Member: Really hoping Mark has some good news for us today.

MZ: The news is still good….We are just not there yet. But there is a lot going on in Iraq right now.

Member: did Charlie have any idea on timing when you met with him last week?

MZ: He is like me and thinks it’s really stinkin close. He is tracking the progress as well.

Member: Any good news for bond holders?

MZ: Bond contacts are absolutely MIA right now . That is not not unusual for a Monday morning. Most get updates later in the day.

Member: Sure sounds like it could be strict NDA’s to me.

MZ: That exactly may be the case. If I do not hear from them – one way or another….that is my assumption.

Member: If the reset doesn’t happen soon, when Basel 3 is implemented July 1 2025 that may help with the reset. Cmkx!!

Member: (From Dinar Guru)  Mnt Goat Article:  “TALABANI’S PARTY: THE OIL AND GAS LAW IS OFF THE AGENDA FOR THE CURRENT SESSION, DESPITE THE GOVERNMENT’S PROMISES.”  As investors we have...been watching for the Oil and Gas law/referendum required by the new Iraqi constitution of 2005...One day we hear it is being passed on to parliament and the next day we hear it will not even be considered in the current session... A member of the Patriotic Union of Kurdistan (PUK), Burhan Sheikh Raouf, confirmed on Thursday that the oil and gas law will not be passed anytime soon, as the current parliamentary term is approaching its end, despite the urgent need to regulate this vital issue.

MZ: The question is – what is the real truth? We heard similar things in Kuwait  and China before they RV’ed their currency.

MZ: “The minister of finance is reporting a 5% growth in non oil GDP in 2024” this is a pretty big story. Presently oil prices are suppressed but it started the year at $78 a barrel . they are far more secure than the “Chicken Little’s” out there are claiming.

Member:  Iraqi government is suppressing the weight of my pockets as well

MZ: “ Expectations to postpone the passage of important laws to the next parliamentary session”  this is a flip flop. They also say they will pass budget tables in the next “coming days” guess we will see what the coming days will bring.

MZ: “Because of Washington Baghdad resorts to “tax deposits”  to secure employees salaries”  the Federal Reserves seems to not want to release all their dollars back to Iraq. Could this be the last dying breath of the Federal reserve?  Or is it something deeper?

MZ: “ Experts discover the biggest hydrogen reservoir on earth-6 trillion under these states” this is in the US between the Appalachian and the Rockies-  there is a huge list on the states with large hydrogen deposits. We are moving towards an asset backed world and are suddenly discovering new assets.

Member: More assets to back the new asset/gold backed USN notes!!!

Member: oil and crude prices are falling again today.

MZ: That may be a good sign …at some point they will not have enough oil revenue and will be forced to RV.

Member: My gut says, once Trumps Big Beautiful Tax Bill is approved and signed, then it’s our day

Member: Do we still get notifications with the 8oo number for the redemption centers?

Member: Until we hear differently- that is the plan

Member: Hubby wants me to ask, "Will all countries revalue their currency eventually?"

Member: Eventually Trump has always says he want parity between currencies. He wants all currencies to have a 1 to 1 value……so I say yes.

Member: Maybe RV is this week and Diddys trial could be cover!

Member: I believe that the Kentucky winner was a Big sign!!  Sovereignty!

Member: Sovereignty beat out Journalism(msm). Ironic

MZ: That is so very ironic.

Member: I appreciate all that have tried helping us over this finish line - whether it be Mark, Mike Bara, Wolverine all of em

Member: Mark. I don’t know how you do it. So much going on and you are still thinking of us and keeping the community informed. Thanks!

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL  TUESDAY THROUGH THURSDAY EVENINGS FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!  FROM NOW ON NO MORE NIGHTLY PODCASTS ON MONDAYS AND FRIDAYS

Youtube:     https://www.youtube.com/watch?v=xyiy6nJREJA

“Tidbits From TNT” Monday 5-5-2025

TNT:

Tishwash:  Al-Sudani chairs a meeting of the heads of the boards of directors of Iraqi banks.

Prime Minister Mohammed Shia al-Sudani chaired a meeting on Monday with the chairmen of the boards of directors of Iraqi banks.

The Prime Minister's media office stated in a statement received by Al-Maalouma Agency that "Prime Minister Mohammed Shia al-Sudani chaired a meeting with the chairmen of the boards of directors of Iraqi banks."   link

Tishwash:  The Foreign Minister arrives in Riyadh on an official visit.

Deputy Prime Minister and Minister of Foreign Affairs, Mr. Fuad Hussein, arrived in the Saudi capital, Riyadh, on Sunday, May 4, 2025, on an official visit aimed at strengthening bilateral relations and continuing consultation and coordination between the two brotherly countries.

The Minister was received upon arrival by Deputy Foreign Minister Walid bin Abdul Karim Al-Khuraiji and the Ambassador of the Republic of Iraq to the Kingdom of Saudi Arabia, Ms. Safiya Talib Al-Suhail.

Mr. Fuad Hussein is scheduled to meet with his Saudi counterpart, Faisal bin Farhan, to discuss ways to strengthen relations between Iraq and the Kingdom of Saudi Arabia, in addition to discussing regional and international developments, the challenges facing the region, and ways to support joint Arab action.

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

Tishwash:  Iraq is in the crosshairs of international negotiations. Negotiations by major powers shape the contours of crises or opportunities for a breakthrough.

 Baghdad Today - Baghdad

Political and strategic affairs researcher Muhammad Ali al-Hakim explained on Monday (May 5, 2025) that the ongoing negotiations between the United States and Iran cast a heavy shadow over Iraq, given the direct and influential influence the two countries have on the Iraqi scene.

Al-Hakim told Baghdad Today, "US-Iranian relations are among the most complex international relations, and any shift in their course will have a direct impact on Iraq, whether positive or negative, depending on the outcome of these negotiations."

He pointed out that "the success of the negotiations will have several positive effects on Iraq, including easing regional tensions, which will reduce the risk of a new conflict and enhance the chances of peace. The economic situation will also improve if sanctions on Iran are lifted, which will open the way for Iraq to expand its trade and economic cooperation with Tehran."

He added that "achieving consensus between Washington and Tehran could also lead to increased international support for Iraq from both sides, which would contribute to the country's stability and stimulate development and investment, as well as reduce the severity of the internal political divide and improve Iraqi-American relations, thus enhancing Iraq's chances of receiving more financial and political support."

In contrast, Al-Hakim warned of the repercussions of the failure of the talks, stressing that "it could rekindle tensions in the region, placing Iraq at the heart of new crises, with the potential for its economy to decline due to continued sanctions on Iran and the difficulty of engaging economically with it."

He also warned that "the failure of the negotiations could exacerbate political tensions within Iraq and intensify polarization between forces affiliated with the Iranian axis and those loyal to the United States, potentially opening the door to new internal crises."

Al-Hakim concluded his remarks by saying, "Despite three rounds of indirect talks between Tehran and Washington, mediated by Oman, Iraq's fate remains tied to the outcome of these negotiations. Their success serves Iraq's national security interests, while their failure could bring further crises."

The United States and Iran have been locked in a complex political and economic conflict for years, beginning with the Iranian Revolution in 1979 and culminating with Washington's withdrawal from the nuclear agreement in 2018 and imposing severe sanctions on Tehran.

With tensions escalating in the Middle East, Iraq has become an indirect arena for this conflict, given the presence of US forces and Iran's extensive political and economic influence there.

Despite attempts at calming the situation through international mediation, most notably Omani mediation, negotiations remain at a standstill, with Iraq remaining the country most affected by the fluctuations in relations between Tehran and Washington.   link

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

Tishwash:  The Minister of Finance breaks her silence on the withdrawal of tax deposits 

Finance Minister Taif Sami explained, on Sunday (May 4, 2025), the mechanism for withdrawing tax deposits and converting them into final revenues.

Sami said in a statement to the official agency, followed by "Baghdad Today", that "the special account for tax deposits opened at the Central Bank of Iraq in the name of the Ministry of Finance, Accounting Department, which concerns the amounts collected from taxpayers, most of which are considered final revenue for the state treasury (tax revenues) according to the applicable laws," indicating that "these amounts are temporarily deposited in an intermediate account, which is the (tax deposits) account, until the final tax accounting procedures are completed by the taxpayers and the General Tax Authority."
She added, "In light of this, it is determined whether the tax accounting is equal to the amount paid by him as deposits, the deposit amounts are reflected in the final revenue. However, if the tax accounting is greater than the amount paid, the taxpayer pays the difference to the public treasury. However, if the tax accounting is less than the amount paid by the taxpayer, the difference is returned to the taxpayer."

She continued, "All remaining amounts are reflected in this account after completing the tax accounting as a final revenue for the state treasury (tax revenues)," noting that "withdrawing tax deposit amounts is a normal procedure according to Cabinet Resolution No. (294) of 2025, as these amounts are considered final revenue for the state treasury as the final result of tax accounting."

The Cabinet resolution, in its 15th regular session held on 4/15/2025, included approval to authorize the Minister of Finance to withdraw tax deposit amounts that are less than five years old, amounting to (3,045,007,500,252) dinars, to finance and pay the salaries of April and subsequent months deposited in the Ministry of Finance's account at the Central Bank of Iraq (70019), which it will deposit later according to the state's overall need, provided that the cash settlement is made monthly when requested by reversing the deposit amount from the actual revenues collected monthly when conducting the tax accounting.

The Minister of Finance explained that "the procedure is normal to maximize resource revenues and control them of all kinds," indicating that "most taxpayers do not visit the departments to complete their tax accounting dues, with the aim of evading the imposed tax."
She stressed that "the ministry has lists of the names, numbers and amounts of taxpayers and companies that owe money at the General Tax Authority and the Accounting Department, to refer to in the event that taxpayers visit the Authority."

Sami pointed out that “the remaining amounts reflect:
1- Upon receipt of amounts from taxpayers before the final settlement (estimation of the tax amount) from the bank account to the tax deposit account (taxpayer)
2- Upon final settlement with the taxpayer:
A- If the final tax settlement amount is equal to the amount of deposits paid, the entry shall be
as follows:
From the tax deposit account (taxpayer)
to the final revenue account (tax revenue)
B- If the final tax settlement amount is greater than the amount paid as deposits, the taxpayer shall pay the difference as a final revenue to the state treasury according to the following entry:
From the bank account (difference amount) From the taxpayer
to the final revenue account (tax revenue).
She added, "The amounts of tax deposits paid by the taxpayer are reflected as final revenue according to the following entry:
From the account / tax deposits (taxpayer)

To the account / Tax revenues
C - If the final tax settlement is less than the amount paid by the taxpayer, the difference amount shall be returned to the taxpayer and the remaining amount shall be reflected in the final revenue according to the following compound entry:
From the account / Tax deposits (the taxpayer)
To the aforementioned
account / Final revenue (Tax revenues)
account / Bank The difference that shall be returned to the taxpayer)

The Council of Ministers decided in its fifteenth regular session held on 4/15/2025 to approve the following:
1- Authorizing the Minister of Finance to withdraw the amounts of tax deposits that are not more than five years old, amounting to (3,045,007,500,252) dinars, to finance and pay the salaries of the month of April and subsequent months deposited in the Ministry of Finance’s account at the Central Bank of Iraq (70019), which it will deposit later according to the need for the total state, provided that the cash settlement is carried out monthly when requested by reversing the amount of deposits from the actual revenues collected monthly when conducting the tax settlement.
2- The ministries, entities not affiliated with a ministry, governorates and governorate councils shall implement the contents of the Ministry of Finance's circular No. (36) S/357 dated 4/8/2025 (attached), for the purpose of expediting tax accounting and settlement procedures within a maximum of (10) days starting from the date of issuance of this decision.

3- Holding accountable those who fail to implement the provisions of the Income Tax Law (113 of 1982 as amended) and delaying the settlement of financial liabilities resulting from the delay in tax accounting and financing all tax revenue amounts and the amount of tax deposit settlement on a timely basis.
4- The General Tax Authority shall impose the fines stipulated in the provisions of paragraph (4) of Article (56) of the aforementioned Income Tax Law. link

Mot: Julie Andrews Turning 79 - this is hysterical!

To commemorate her birthday , actress/vocalist, Julie Andrews made a special appearance at Manhattan's Radio City Music Hall for the benefit of the AARP. One of the musical numbers she performed was 'My Favorite Things' from the legendary movie 'Sound Of Music'. Here are the lyrics she used:

(Sing It!) - If you sing it, its especially hysterical!!! )

Botox and nose drops and needles for knitting,

Walkers and handrails and new dental fittings,

Bundles of magazines tied up in string,

These are a few of my favorite things.

Cadillacs and cataracts, hearing aids and glasses,

Polident and Fixodent and false teeth in glasses,

Pacemakers, golf carts and porches with swings,

These are a few of my favorite things.

When the pipes leak, When the bones creak,

When the knees go bad,

I simply remember my favorite things,

And then I don't feel so bad.

Hot tea and crumpets and corn pads for bunions,

No spicy hot food or food cooked with onions,

Bathrobes and heating pads and hot meals they bring,

These are a few of my favorite things.

Back pain, confused brains and no need for sinnin',

Thin bones and fractures and hair that is thinnin',

And we won't mention our short shrunken frames,

When we remember our favorite things.

When the joints ache, When the hips break,

When the eyes grow dim,

Then I remember the great life I've had,

And then I don't feel so bad