Theseus

And here I was hoping the number would be 8675309 because it would make me so happy. And tbth around the weekend of the 19th is more likely. As it conforms to the holiday schedules and less banking done until after the New Year. If you want anything done do it before Dec 15 or wait until after Jan 15 for govt to work.

IMF projected in 2025 Report that by 2028 Iraq inflation will be at 2%.

The White papers implemented at the end of 2020 (October 2020 Version) only has 80 pages. In those 80 pages contains plans for five axis of Iraq. Technology, Economic, Agriculture, Infrastructure and Education to name some of categories covered. The white papers are just a road map and as with any road, it is full of obstacles, detours and pitstops. Some of the plan has changed over the years due to these obstacles and detours. However, the general context was laid out so that these obstacles and detours were absorbed into the plan as much as one could foresee. One thing the IMF recently stated was that Iraq has no Stand By Agreement (SBA) with the IMF. SO we got that going for Iraq.

Bah only 80 pages and since its implementation if you would have had 246+ weeks to read it. Even if it included 82 pages, you could have read 1 page every three weeks and have read it all by now.

Sure its called the media.

SO now does anyone want to argue they are not following the implementation of the White Papers 2020?

White papers Axis 2 states "Axis 2: Achieving macroeconomic reforms according to strategic principles, giving priority to productive economic sectors, and creation of sustainable employment opportunities. ... (1) Rehabilitation of Financial sectors Rehabilitate financial sectors through reforming state-owned banks, developing private banks, developing the insurance sector, and upgrading the stock exchange market. 1) Addressing the capitalization level of all government banks, regulating the process of increasing their capital, if needed, and establishing and operationalizing the Core Banking System in Al-Rafidain and Al-Rasheed Banks. 2) Accelerate the development of electronic banking and mobile banking services. 3) Activate the deposit insurance system in order to enhance the confidence of the people in the private banking sector. 4) Finalize roll-out of international accounting systems (IFRS) to all banks, to improve their transparency practices. 5) Increase insurance thresholds that enable insurance companies to cover large economic projects. 6) Enacting a new securities law and review the guidelines of establishing a Custodian bank. 7) Opening other specialized markets such as the commodity market and the currency exchange market (Forex) (a) Banking sector Objective: The reform of this sector aims to “reform government banks towards working according to commercial standards, reduce their hegemony over the banking sector and pave the way for private banks to ensure the development of the sector and take its role as a lever for the Iraqi economy, end the role of government banks as an arm to finance government spending, return to the independence of these banks from the Ministry of Finance and restore people's confidence in the sector Banking in general”, through the following steps 1) Addressing the level of capital of all government banks and organizing the process of increasing their capital, if necessary 2) Establishing and activating the basic banking system in the Rafidain and Rasheed banks, and continuing with the steps previously taken towards restructuring these two banks after conducting a full financial review by international auditing companies 3) Appointing an international law firm to conduct a full audit of the international legal position of Al-Rafidain and Rasheed banks in order to return them to international dealings 4) Reconsidering the Industrial Bank Law and increasing its capital in order to expand its business base and present it as a model for reforming other government banks 5) Accelerate the development of electronic banking and mobile banking services to become the primary means of the payments system to encourage more access to traditional banking services and enhance financial inclusion 49 6) Strengthening the ability of the Central Bank to perform its supervisory functions and enabling it to effectively supervise and regulate the banking sector, including the power of forced merger of low-performing banks 7) Implementing a deposit insurance system in order to enhance the confidence of depositors in the private banking sector 8 ) Complete the application of international accounting systems in all banks to improve their transparency practices and according to the Central Bank's instructions in this regard 9) Providing an appropriate environment to encourage private banks to lend a stimulus to the economy and move away from focusing on generating revenues through the issuance of guarantees, the currency window and other fees. 10) Adopting market mechanisms in determining the interest rate and profits for the Iraqi financial markets"

Not sure if anyone has seen this: CBI Launches Full Implementation of Comprehensive Banking Reform Project 11 days ago A Advisor to the Iraqi Private Banks League/ Samir Al-Nusairi Subscribe to our Telegram channel to receive more news Samir Al-Nusairi, Advisor to the Iraqi Private Banks League, said that the measures and efforts undertaken by the Central Bank of Iraq (CBI), in coordination and consultation with private banks, have yielded tangible results in initiating the implementation of the goals, programs, mechanisms, and standards of the Comprehensive Banking Reform Project. The initiative, carried out in cooperation with the government and the global consultancy firm Oliver Wyman as part of the CBI’s third strategic plan, aims to build a sound, modern, inclusive, and flexible banking sector capable of supporting rapid national economic growth, increasing the gross domestic product (GDP), and boosting the market value of Iraq’s banking industry. Al-Nusairi emphasized that economic reform begins with banking reform, noting that Iraq’s economic challenges present opportunities for transformation within the financial and banking sectors. He highlighted that the government’s economic agenda and the Central Bank’s long-term vision both center on strengthening the role of the banking sector in achieving sustainable development, stimulating investment, and revitalizing non-oil productive sectors to diversify national income sources and ensure financial sustainability. He added that the Central Bank’s ongoing efforts to organize foreign trade financing, complete infrastructure projects to achieve full digital transformation, and expand the use of electronic payment tools are essential to advancing financial inclusion. According to Al-Nusairi, these initiatives will contribute to reforming, developing, and empowering the private banking sector between 2025 and 2028 through the following priorities: 1- Developing the Iraqi banking system to ensure full compliance with international banking and accounting standards. 2- Building a sound, modern, inclusive, and flexible banking sector. 3- Enhancing public confidence in the domestic banking system while achieving international recognition for transparency, progress, and strict adherence to global standards—thus earning the trust of reputable correspondent banks. 4- Rehabilitating underperforming and restricted banks to restore their full participation in domestic and international financial activities. 5- Redirecting banks toward their core function of financing and lending for development, while expanding financial inclusion and increasing participation rates as planned. 6- Advancing the transition from a cash-based to a digital economy by drawing an estimated 80% of money currently circulating outside the banking system into formal financial channels. Al-Nusairi noted that although the reform project and the CBI’s strategic framework allocate three years for implementation, the progress achieved between 2023 and June 30, 2025, has already established solid foundations and mechanisms for the intended reforms. He added that these results represent ambitious performance indicators and will form the basis for evaluating and clas

A bit old, but not too old. Iraq discusses economic cooperation with European Investment Bank Iraq Amr Salem October 21, 2025 560 2 min The headquarters of the European Investment Bank in Luxembourg. Photo: Nicolas Bouvy/EPA Baghdad (IraqiNews.com) – Iraqi Minister of Foreign Affairs Fuad Hussein and Vice President of the European Investment Bank Gelsomina Vigliotti discussed on Monday approaches to enhance economic cooperation. According to a statement released by the Iraqi Foreign Ministry, the two sides, during their meeting in Luxembourg, explored strategies to enhance collaboration opportunities in development and investment, support important projects, and improve infrastructure. The meeting addressed global economic developments and their implications for the region, with a focus on Iraq’s economic situation and the Iraqi government’s priorities for promoting the financial and economic sectors, as well as shifting toward empowering the private sector and reducing reliance on the public sector. Hussein emphasized Iraq’s desire to enhance collaboration with foreign financial institutions, particularly the European Investment Bank, to fund major projects, improve infrastructure, and boost investment. The Iraqi foreign minister also emphasized the importance of meeting the necessary requirements to finalize a framework agreement between both parties for establishing the joint partnership. Vigliotti stated that the European Investment Bank is ready to provide assistance, technical guidance, and finance for initiatives that promote sustainable development in Iraq and improve the country’s economic stability.

My worry is thus: Iraq drops the zeros. The exchange rate gets changed to what it currently is divided by the number of zeros dropped. Foreign investors will falter and even might run away because of the lack of profit Iraq prevented them from getting with the false promise of an RV on the horizon. The investor would look at Iraq as a whimsical and farcical investment because of the time it took them to just drop the zeros. Foreign Investment numbers would plummet although the oil sector might, just might, hold or rise slightly. Overall foreign investment would plunge and the fixed rate and not a float on the FOREX would not bode well for Iraq. Because who knows when Iraq would change the rate again. It could be another 15 to 20 more years before a number that is conducive comes out that would attract foreign investors. An investor is in it for the profit. Dropping the zeros would be a loss and something Iraq would be hard pressed to come back from in the short-term and medium-tern periods. The only reason to do a RD would be to control the amount of money that goes out of the reserve when Iraq calls back its dinars to exchange to the denomination. II believe, i might be wrong, it will be at that time a lot of people will see that this is a futile investment and get out. This will drain off Iraq's FOREX reserves maybe 15 to 20 percent more as people relinquish their hold on the dinar. Dropping of the zeros (a RD) gives no purchasing power it just makes the books easier for record keeping. But they should have been doing that all along. No change in purchasing power equals no change in foreign investments. Purchasing power yeilds profit and gains. A RD yields their investors losses. Not good. Not good at all.

My worry is thus: Iraq drops the zeros. The exchange rate gets changed to what it currently is divided by the number of zeros dropped. Foreign investors will falter and even might run away because of the lack of profit Iraq prevented them from getting with the false promise of an RV on the horizon. The investor would look at Iraq as a whimsical and farcical investment because of the time it took them to just drop the zeros. Foreign Investment numbers would plummet although the oil sector might, just might, hold or rise slightly. Overall foreign investment would plunge and the fixed rate and not a float on the FOREX would not bode well for Iraq. Because who knows when Iraq would change the rate again. It could be another 15 to 20 more years before a number that is conducive comes out that would attract foreign investors. An investor is in it for the profit. Dropping the zeros would be a loss and something Iraq would be hard pressed to come back from in the short-term and medium-tern periods.

Long ago, I said they first had to pass then implement then RV. Follow the narrative here. The talk about new mechanisms, the WTO ongoing negotiations, Erbil falling in line with Baghdad, etc. Its like we are moving ahead and the curvature of the Earth is just concealing the destination off in the distance. (had to put that in there for you flat earthers!). Right now they are implementing the necessary protocols and laws to make a significant change, whether its the RV, RI or RD, we will see. The hope here is to do an RV or RI then after a period of time to collect the dinars back into the banks, do a RD. That would be the ideal scenario for us.

KRG transfers non-oil revenues to Baghdad Kurdistan RegionerbilbreakingBaghdadKRGsalariesNon-oil revenues 2025-10-21 16:54 Share font Shafaq News – Erbil The Kurdish Ministry of Finance and Economy declared on Tuesday that it has transferred non-oil revenues for August 2025 to Iraq’s Ministry of Finance. In a statement, the ministry confirmed that 120 billion dinars (approximately $91.6 million) were deposited in cash into the federal ministry’s account at the Central Bank branch in Erbil.

Iraq forex reserves fall below $95B Economy & BusinessbreakingCBIIraqi dinarforeign currency reserves 2025-10-18 22:30 Share font Shafaq News – Baghdad Iraq’s central bank (CBI) reported on Saturday that its foreign currency reserves fell to just under $95 billion by the end of July. Official data indicated that the central bank’s reserves reached $94.714 billion, equivalent to 123.128 trillion Iraqi dinars, by July 31. This represents a decline of $2.305 billion from June, when reserves stood at $97.019 billion, or 126.125 trillion dinars. The reserves also decreased compared with May, which recorded $96.799 billion, equivalent to 125.839 trillion dinars. On an annual basis, the reserves have dropped from $100.276 billion at the end of 2024 (130.347 trillion dinars) and $111.736 billion in 2023 (145.257 trillion dinars).

You would have to exchange the old notes (ones with the 3 zeros) to the new denominations, whether you intend to exchange or not. More than likely they would do what they have done in the past, give a certain amount of time to exchange the old for new. That doesn't mean to exchange from dinar to pounds or rubles. It means you would have to take your notes in your nicotine stained fingers and change them into new ones. Now it was an EO that made it legal for people in the US to hold onto dinars, let's just hope the EO doesn't get rescinded after the RV. So your scenario would follow the scenario I presented, the dinars would be worth the same amount at the 1.20 price as the .00120 price point.