Afleveringen
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Governor of the Central Bank of Iraq meets an official delegation from the United States
link https://www.myfxbuddies.com/2025/01/governor-of-central-bank-of-iraq-meets.html
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His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received Mr. Steve Lutes, Vice President of the US Chamber of Commerce and Chairman of the US-Iraq Business Council, and his accompanying delegation in Baghdad.
During the meeting, they discussed banking and economic relations between the two countries and the upcoming visit of the Central Bank of Iraq delegation to Washington and their meeting with the US Chamber of Commerce and American companies next April.
The meeting discussed the desire of American companies to invest in the energy, infrastructure and modern technology sectors and to invest in the security stability witnessed by Iraq. -
President of the Republic reviews Iraq's long-term economic development plan in Davos
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Todayâs session, entitled âTowards a more stable land through land reclamation,â focuses on a critical global challenge: land degradation.
40% of the worldâs land has lost its fertility, threatening the stability of our economic and social environments. This phenomenon has caused a decline in agricultural productivity, pollution of waterways, and increasing and accelerating drought, putting economies and livelihoods around the world at risk. -
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Parliamentary Finance Committee Member Identifies âMost Dangerous Issueâ in 2025 Budget
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Member of the Parliamentary Finance Committee, Mustafa Al Karawi, revealed the most prominent challenges facing the 2025 budget, while indicating that the "most dangerous thing" is the halting of investment projects.He added that "the subject of the oil and gas law represents a radical solution to end the oil file with the Kurdistan Region and regulate financial relations between the two sides, but the region has not yet committed to delivering any financial revenues to Baghdad, although the Ministry of Finance has proven the delivery of all salaries of the region's employees with official documents, while the Kurdistan government has not provided evidence of the delivery of its oil revenues to the federal government."
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Counterfeit currency enters Iraq.. Al-Aasam reveals shocking information
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Al-Aasam explained to âJarida Platformâ that this currency, which was discovered to be counterfeit, was recently circulated in local markets, suggesting that it may have arrived from outside the borders, as âthere are no internal capabilities or laboratories to counterfeit the currency.â
Al-Aasam added, âThis operation aims to withdraw foreign currency, especially the dollar, from the Iraqi markets, through the circulation of counterfeit currency. If these papers reach the Central Bank, they will be destroyed immediately, which will have a significant negative impact on the Iraqi economy."
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Liquidity crisis in Iraq is "worsening".. 70% of money is hoarded in homes
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If you'd like to support me: â â â â â https://www.paypal.com/paypalme/tishwashAl-Tamimi said in an interview with Baghdad Today, "The lack of liquidity is something we expected two years ago, and we warned about it repeatedly, especially with citizens continuing to hoard money inside their homes instead of depositing it in government or private banks, in addition to the absence of real investments for frozen money."
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Instead of "granting it exclusively to foreign banks", a proposal to offer the dollar on "trading platforms"link to My FX Buddies Blog
If you'd like to support me: â â â â https://www.paypal.com/paypalme/tishwashEconomic experts and specialists considered that the Central Bank's attempt to avoid responsibility for the currency auction and sale came through delegating this task to foreign banks instead of it, indicating that the bank must open the door to competition and offer Dollar For trading instead of sending it exclusively to some Foreign banks.Hantoush suggested the possibility of converting Dollar To stock market trading platforms, to be sold to beneficiaries through direct transactions instead of sending Dollar exclusively to banks, stressing the need to regulate these operations by switching to the "Forex" market, and implementing mechanisms that ensure that funds are not transferred until the goods arrive with the guarantee of the banks.
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Parliament adds budget amendment paragraph to next Sunday's agenda
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Reading verses from the Holy Quran
First: Voting on the draft law of the National Intelligence Service to the Defense Committee (Article 26).
Second: Voting on the draft law amending the first law of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2022 - 2014 - 2020) No. 13 of 2023. Finance Committee) -
Economist: The Central Bankâs policy is moving towards globalizing Iraqi banks
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Qusay said in an interview: "The Central Bank's policy is moving towards consolidating the issue of globalizing Iraqi banks, and the process of ending dealings with the electronic platform will contribute to accepting local banks that have the ability to provide guarantees and international compliance conditions with international correspondent banks." -
Source: Trump envoy expected to visit Iraq with security message for PM Al-Sudanilink to My FX Buddies Blog
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The source told Shafaq News, "The American envoy is likely to arrive in Baghdad carrying direct messages from Trump about the security of the region and Iraqâs role in maintaining it." The visit, the source noted, might be unannounced and will include discussions on Al-Sudaniâs recent diplomatic visits and Trump's perspective on evolving regional dynamics.
Last week, another political source disclosed that Prime Minister Al-Sudani had already received a message from Trump via a special envoy in an unpublicized visit.
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Birth of a new banking entity in Iraq.. A government advisor reveals the details
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Saleh added, "The study aims to establish a new banking entity specializing in government banking operations, to meet the government's needs exclusively. This entity will contribute to achieving the goals of the unified treasury account, which is a crucial tool for regulating cash flows for public finances."
He pointed out that "the study focuses on evaluating the legal status of the two banks, including property rights, evaluating assets and liabilities, and studying the requirements of a strategic partner if necessary, with a focus on developing the two entities to operate according to advanced financial technology that meets the requirements of the national banking market."
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Critical days ahead for Baghdad before Trump arrives at the WhiteHouse... and Al-Sudani in Tehran tomorrowlink to My FX Buddies BlogIraq is waiting for Trump
In short, there is a stark reality that those concerned here or there must be aware of, including the rulers of Iraq, which is that the major powers controlling the game have begun to change the rules of engagement in a manner consistent with their interests and security, and the minor players have no choice but to submit to this matter, whether they like it or not.
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The Iraqi dollar and the first day âpassed peacefullyâ.. The Central Bank is innocent and devoted to the dinar
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Quick review by Mahmoud Dagher
The Central Bank receives the dinar from the banks, which is the money of the customers (traders), and converts it into dollars and delivers it to the foreign correspondent banks. It will not undertake the auditing, but they will undertake that.
The currency selling window will remain, but its mission will not be to sell dollars but to convert dinars into dollars, and there was no problem in the market today, Sunday, although the dollar rose very slightly.
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After the electronic platform stopped...Answering questions from Iraqi circles about the new dollar mechanismlink to My FX Buddies Blog
Many citizens have raisedIraqisQuestions about the new trading mechanismDollarinIraqHow to withdraw or buy it after stoppingOfficialTo create an electronic platform.He saidDeputyThe Governor of the Central Bank, Ammar Khalaf, said yesterday that "the mechanism of work on the electronic platform related to foreign transfers has stopped working, but financing foreign trade continues through correspondent banks according to different mechanisms that are parallel to what is in effect in countries around the world."
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Iraq officially suspends work on the electronic platform.. Will we witness a crazy rise in the dollar?
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The Central Bank of Iraq announced today, Wednesday, the suspension of work on the electronic platform mechanisms related to the sale ofDollar.He saidDeputyCentral Bank Governor Ammar Khalaf, in a statement to the official agency, followed bySumerianNews, "The mechanism of work on the electronic platform related to foreign transfers has stopped working, but financing foreign trade continues through correspondent banks according to different mechanisms that are parallel to what is in effect in countries around the world." He pointed out that "the granting ofDollarFor travelers at airports according to the approved mechanism, which is the best in limiting the occurrence ofDollarFor the traveler. This decision comes as part of a series of reforms aimed at facilitating financial procedures and stimulating the economy, but at the same time it raises questions about its potential impact on the stability of the dinar exchange rate.IraqibeforeDollarAmerican. -
With the beginning of the new year, the US dollar enters a new phase in Iraq
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US dollar dealers in Iraq are awaiting the arrival of the new year 2025, which is now approaching and will end the work of the electronic platform for monitoring the movement and transfer of currencies outside the country, according to what the Central Bank of Iraq announced.
Financial and banking experts consider the suspension of the dollar selling platform by the Central Bank of Iraq a âbold stepâ as it has multiple economic and regulatory dimensions, but on the other hand, the suspension of the platform may open the door to new challenges.
Experts confirm that the success of this decision depends largely on how it is implemented. If the Central Bank is able to provide strong regulatory alternatives and ensure comprehensive awareness for traders and importers, it may be able to achieve the desired goals of this step.
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Goodbye dollar auction.. Central Bank announces the end of 20 years of billions and suspicions
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The matter has been settled.. Iraq will no longer offer its precious dollars in the controversial dollar auction, or what was called the foreign currency sales window and the electronic platform. After 20 years since the start of this procedure, Ammar Khalaf, Deputy Governor of the Central Bank, confirmed in a statement that the dollar platform has become closed in compliance with the date set by the governor to close it at the end of 2024. Khalaf denied all rumors about the possibility of extending the platformâs work, and spoke with great positivity, reassuring the market and consumers that the overwhelming majority of traders have already adapted to the new system in which the Central Bank does not provide direct dollars to traders. But what will happen?
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Parliamentary Finance Committee settles the matter: The dollar exchange rate will not change
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The Parliamentary Finance Committee revealed the numbers of employees, retirees and social welfare beneficiaries, confirming that their salaries are fully secured for next year, with no intention to change the dollar exchange rate.
Committee member, Moeen Al-Kazemi, stressed the "need to increase non-oil revenues to ease the burden on the general budget."
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Al-Alaq announces the launch of the era of digital transformation in Iraqi bankslink to My FX Buddies Blog
The Governor of the Central Bank, Ali Al-Alaq, announced today, Tuesday, the launch of strategic projects to support digital transformation, while indicating that the Central Bank: We issued controls to license digital banks in Iraq.
Al-Alaq said in his speech during the fourth annual international scientific conference, entitled (Digital Financial Services - Challenges of Reality and Foresight of the Future): âThe conference was organized in partnership between the Financial and Accounting Center and a number of universities and academic institutions, which gives an image that aims to discuss developments in the field of financial and digital services and the challenges they face, in addition to foreseeing the future of this vital sector.
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Expected rise in the dollar... "temporary shock" awaits the Iraqi marketlink to My FX Buddies Blog
The head of the institution, Manar Al-Obaidi, said in a statement to "Baghdad Today", that "the suspension of the Central Bank's currency transfer platform, which was officially announced on 12/23/2024, will lead to a temporary rise in the dollar exchange rate in the market as a result of the prevailing state of fear, but things will return to normal with the beginning of the new year."
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The dollar market is on âone legâ.. A new mechanism and the exchange rate is threatened!
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The Central Bank of Iraq is preparing to stop dealing with the electronic platform for dollar transfers abroad, at a time when experts have warned against raising the exchange rate to a higher level in light of the news circulating about this.
The electronic platform was launched in early 2023, and it represents a system for auditing dollar transfers before they are executed, instead of the audit that the US Federal Reserve used to conduct after execution.
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