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Iraqi National Card in the States More information at My FX Buddies Blog https://www.myfxbuddies.com/ Today, Sunday, the Ministry of Interior announced the start of the second phase of the national card project. The ministry stated, in a statement received by Al-Rabaa: “On the sidelines of the visit of the Prime Minister and Commander-in-Chief of the Armed Forces, Muhammad Shiaa Al-Sudani, to the United States of America and his visit to the Iraqi embassy in Washington, instructing to provide the best services to the Iraqi community there, and in implementation of the directives of the Minister of Interior, Abdul Amir Al-Shammari, and under direct and field supervision.” By the Director General of Civil Status, Passports and Residence, Major General Nashat Ibrahim Al-Khafaji, the cadres of the Directorate of National Card Affairs in the American capital, Washington, began registering citizens.

A Fistful of Dinars: Demystifying Iraq's Dollar Auction link to My FX Buddies Blog https://www.myfxbuddies.com/2024/04/a-fistful-of-dinars-demystifying-iraqs.html The Article 140 Committee in Kirkuk Governorate announced, on Tuesday, the start of distributing sums of money to the deportees after the arrival of bonds worth more than 8 billion dinars from the public center. The head of the committee, Babiker Siddiq Ahmed, told Shafaq News Agency, “A new batch of deportees’ checks arrived at the office of the Article 140 Committee in Kirkuk, where the number of this batch reached 845 deportees, and the total amounts of the checks amounted to 8 billion and 450 million Iraqi dinars.” This is a good one to share!

The Article 140 Committee announces the start of distributing the amounts link to My FX Buddies Blog https://www.myfxbuddies.com/2024/04/the-article-140-committee-announces.html The Article 140 Committee in Kirkuk Governorate announced, on Tuesday, the start of distributing sums of money to the deportees after the arrival of bonds worth more than 8 billion dinars from the public center. The head of the committee, Babiker Siddiq Ahmed, told Shafaq News Agency, “A new batch of deportees’ checks arrived at the office of the Article 140 Committee in Kirkuk, where the number of this batch reached 845 deportees, and the total amounts of the checks amounted to 8 billion and 450 million Iraqi dinars.”

After 21 years of the dollar auction... Iraq is close to closing the window amid reassurances and warnings link to My FX Buddies Blog https://www.myfxbuddies.com/2024/04/after-21-years-of-dollar-auction-iraq.html Iraq is approaching the end of the closure of the dollar selling window at the Central Bank - which has been controversial - over the past two decades. The Central Bank's management plans to gradually cancel the dollar auction during the year 2024, leading to its complete cancellation by the end of the year, and to maintain it for audit and statistical purposes, in an effort to enable Iraqi banks to establish and establish solid banking relationships with the global and regional banking sector in order to achieve the sobriety of the Iraqi banking sector and full commitment. According to international standards and requirements. Iraq relies on the platform for selling currency directly to local banks and companies, which was previously known as the daily dollar auction, as one of the mechanisms for preserving the value of the Iraqi dinar and combating speculative operations in the parallel market.

Abdel Wahed: The Sudanese visit to Washington is important and will restore stability to the dinar price ⁠link⁠ to My FX Buddies Blog https://www.myfxbuddies.com/2024/04/the-sudanese-visit-to-washington-is.html Abdul Wahed said in a blog post seen by Mail, “The Prime Minister’s visit to the United States of America comes at an important time, and will be a transition towards a new phase of relations, especially since the visit is evidence of the Iraqi desire to build a sustainable strategic partnership based on mutual respect.” . She added, "The files that will be discussed, whether economic, security, or political, must certainly benefit Iraq andhave a role in the recovery of the economy and the return of stability to the dinar price."

Al-Sudani will stay in America for a week.. And Will Visit TEXAS! ⁠link⁠ to My FX Buddies Blog https://www.myfxbuddies.com/2024/04/al-sudani-will-stay-in-america-for-week.html He stated that “the goal of the visit is to move relations with the United States toa new stage that includes activating the provisions of the Strategic Framework Agreement,which is in line with our government’s program that focuses on economic and financial reforms and other important fields, as well as productive partnerships with various countries of the world.”

The dollar is on the Sudanese dialogue table in Washington.. Al-Awadi talks about the future of the Iraqi dinar ⁠link⁠ to My FX Buddies Blog https://www.myfxbuddies.com/2024/04/the-dollar-is-on-sudanese-dialogue.html The Iraqi government spokesman, Bassem Al-Awadi, confirmed today, Thursday (April 11, 2024), that the dollar file and the work of banks will be strongly present during the visit of Prime Minister Muhammad Shiaa Al-Sudani to Washington, suggesting that the dinar’s situation in the future will be better. Al-Awadi said in an interview with “Baghdad Today” that “after the issue of activating the strategic framework agreement between Washington and Baghdad and the security aspect, the economic file will be present and strongly during the Prime Minister’s visit to the United States,” indicating that “the relationship with the US Treasury and the Federal Bank continues and the dialogues are ongoing.” "It did not stop with them over the past year, as there were several mutual visits, announced or unannounced, to discuss this file."

Government spokesman: We have adopted the principle of productive borrowing and integration into the international economic cycle ⁠link⁠ to My FX BUddies Blog https://www.myfxbuddies.com/2024/04/we-have-adopted-principle-of-productive.html Government spokesman, Bassem Al-Awadi, said on Monday, April 8, 2024, that the government has followed the principle of productive borrowing and integration into the international economic cycle. Al-Awadi issued a statement, seen by Ultra Iraq, which came as “an emphasis from the government on transparency in economic work, and informing public opinion and the national and international media of Iraqi economic performance.”

Al-Rafidain Bank announces the launch of the comprehensive banking system in its branches in Baghdad and Karbala link to My FX Buddies Blog Based on the directives of the Minister of Finance, Ms. Taif Sami, regarding the automation of banking work, and with direct follow-up and supervision by the Director General of Rafidain Bank, Dr. Ali Karim Hussein. Al-Rafidain Bank announces the launch of the comprehensive banking system in the branches of Al-Waziriya and Al-Ma’rifa in Baghdad and Al-Shuhada in Holy Karbala, thus joining the branches in which the comprehensive system was implemented, the last of which was at the border crossings (Zarbatiyah - Safwan - Arar - Trebil) in an important step to abandon paper work and move completely towards... Electronic transformation.

The beginning of “drying up” liquidity from the hands of the Iraqis.. The destruction of “surplus” currency and deposits in banks are the highest historically link to My FX Buddies Blog https://www.myfxbuddies.com/2024/04/the-beginning-of-drying-up-liquidity.html Over the past years, all of the economic problems in Iraq internally, whether with regard to corruption, the dollar, high real estate prices, etc., as well as inflation, were directly linked to the high volume of liquidity and the printing of money by the Central Bank, as well as the high volume of cash liquidity. In the hands of the street, citizens or capital owners, away from Iraqi banks. Recently, trends and numbers indicate that a reverse process has begun to take place in Iraq, which consists of reducing cash and getting rid of “surplus printed money” without printing new money in front of it, and increasing banks’ possession of this liquidity instead of leaving it in the hands of the street and citizens, where it can be said that the government and the banking sector And finance in general in Iraq began to “nibble” the existing liquidity and “dry it out” from the hands of the people.

Minister of Finance of the World Bank: We have made plans to accelerate the pace of financial and banking reforms ⁠link⁠ to My FX Buddies https://www.myfxbuddies.com/2024/04/minister-of-finance-of-world-bank-we.html The Ministry of Finance said in a statement received by the Iraqi News Agency (INA): “Minister of Finance, Taif Sami, received today the Regional Director for the Middle East at the World Bank, Jean-Christophe Carré, the Special Representative of the Bank in Iraq, Richard Abdel Nour, and a number of experts and specialists.” She added, "During the meeting, priorities for development projects and ways to support the World Bank to strengthen the financial and business sectors and improve the investment environment were discussed," noting, "It was emphasized that continued bilateral coordination to promote sustainable development was discussed, in addition to discussing the Bank's support for the government program for economic reform inIraq."

Al-Sudani receives an invitation from the Saudi Crown Prince to participate in the World Economic Forum link to My FX Buddies Blog https://www.myfxbuddies.com/2024/04/al-sudani-receives-invitation-from.html

Advisor to Al-Sudani: The dollar is on the way to further decline, and 70% of Iraqi traders have entered the platform link to My FX Buddies Blog https://www.myfxbuddies.com/2024/03/advisor-to-al-sudani-dollar-is-on-way.html Fadi Al-Shammari, advisor to the Prime Minister, Muhammad Shiaa Al-Sudani, expected on Wednesday (March 27, 2024) a continued decline in the dollar’s ​​exchange rate against the dinar. Al-Shammari said in a televised statement followed by “Baghdad Today,” “The dollar is on its way to further decline and is subject to supply and demand.” He stated, “70% of Iraqi merchants deal with the platform, up from only 10%.” Reuters previously quoted an official in the Central Bank of Iraq who revealed that merchants are increasingly interested in the electronic platform for selling the dollar at the official price (1,320 dinars), and working in a regular manner, as foreign trade remittances rose to 200 million dollars after it was only 50 million dollars last year.

The National Bank of Iraq announces the success of working with the global “Temenos” systems in compliance with the Central Bank link to My FX Buddies Blog https://www.myfxbuddies.com/2024/03/the-national-bank-of-iraq-announces.html “Our new banking system, which was launched at the beginning of this year, will contribute to improving the efficiency of operations, which reduces the time and effort spent on completing transactions and enhances their accuracy. The system allows customers to carry out various banking transactions via the Internet or Through the mobile application, such as transferring money, paying bills, and requesting banking products,” he pointed out that “the system will also contribute to enhancing compliance with international standards and the requirements of the Central Bank of Iraq, which enhances transparency and security in banking operations.”

Al-Sudani will visit Washington next month and discuss the dollar and the development of the military mission link to My FX Buddies Bloghttps://www.myfxbuddies.com/2024/03/al-sudani-will-visit-washington-next.html Statement from the White House White House Press Secretary Karine Jean-Pierre said on Friday that US President Joe Biden will welcome Iraqi Prime Minister Muhammad Shia al-Sudani to Washington on April 15 to discuss common priorities regarding the dollar and developing the military mission.

Al-Sudani will visit Washington next month and discuss the dollar and the development of the military mission My FX Buddies On April 15, President Joe Biden will welcome Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House to coordinate on common priorities and reinforce the strong bilateral partnership between the United States and Iraq. The leaders will reaffirm their commitment to the Strategic Framework Agreement and deepen their shared vision for a secure, sovereign, and prosperous Iraq fully integrated into the broader region. President Biden and Prime Minister Sudani will consult on a range of issues during the visit, including our shared commitment to the lasting defeat of ISIS and evolution of the military mission nearly ten years after forming the successful Global Coalition to Defeat ISIS. They will also discuss ongoing Iraqi financial reforms to promote economic development and progress towards Iraq’s energy independence and modernization.

Central Bank of Iraq": Our goal is to preserve the reputation of the banking sector ⁠link⁠ to My FX Buddies Blog Deputy Governor of the Central Bank of Iraq, Ammar Hamad, told News Arabia that the bank is working to lift the US ban on dealing in dollars in a number of Iraqi banks, and to preserve the reputation of the banking sector.

Prime Minister: Iraq is about to host important events and conferences link to the MyFX Buddies Blog https://www.myfxbuddies.com/2024/03/prime-minister-iraq-is-about-to-host.html The Prime Minister stressed that “a city the size of the capital, Baghdad, is in dire need of large hotels, due to the tourist movement and official delegations it witnesses, and the fact that it hosts many Arab, regional and international conferences throughout the year, with the hotel occupancy rate currently reaching 100%.”

Central Bank to increase the value of the dinar and control the market link to MyFX Buddies Blog https://www.myfxbuddies.com/2024/03/central-bank-to-increase-value-of-dinar.html The committee discussed with the Governor of the Central Bank the approved international standards, future plans to improve the status of banks, the possibility of expanding relations with international banks, drawing up the structure of banks, and moving towards the electronic payment process, in addition to the possibility of amending the Central Bank law.

Financial digitization.. a factor to reduce inflation and absorb hoarded funds link to My FX Buddies Blog https://www.myfxbuddies.com/2024/03/financial-digitization-factor-to-reduce.html Economic affairs specialists have identified the most prominent advantages that digital transformation can achieve in banking, placing at the forefront of these advantages the elimination of inflation through the use of small denominations, and the absorption of citizens’ hoarded cash mass, estimated at more than 95 trillion dinars, while they praised the Central Bank’s measures. In providing the appropriate ground for achieving financial digital transformation, they stressed the necessity of doubling the distribution of points of sale and working to oblige all government and private institutions to operate with electronic cards.

Barzani thanks Bush for liberating Iraq from Saddam's regime link to My FXBuddies Blog https://www.myfxbuddies.com/2024/03/barzani-thanks-bush-for-liberating-iraq.html A statement issued by the Presidency of the Region today, Wednesday (March 6, 2024), received by “Baghdad Today”, stated that “as part of his visit to the United States, the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, met (yesterday), Tuesday, with former US President George W. Bush.” . During the meeting, according to the statement, Barzani expressed his "thanks and appreciation to President Bush for his support for the people of the Kurdistan region and Iraq, as well as the liberation of Iraq from the dictatorial regime, and his support for the democratic system in the country."

With a dollar bill... Deputy: The US Treasury is putting pressure on Iraq. link to MyFX Buddies Blog https://www.myfxbuddies.com/2024/03/with-dollar-bill-deputy-us-treasury-is.html Today, Sunday, the representative of the Fatah Alliance, Ola Al-Nashi, accused the US Treasury Department of obstructing the Iraqi government’s reforms in light of waving the economic card through the dollar file. Al-Nashi told Al-Maalouma, “The economics file is more important than politics and what is happening in it, and it is the aspect that is focused on to thwart any government if it achieves successes and is able to get closer to the people.”

Iraq continues its efforts to gain membership in the World Trade Organization ⁠link⁠ to the MyFX Buddies Blog The Ministry of Commerce confirmed the government's aspiration to join the World Trade Organization, especially after the Saudi representative in the organization, Saqr Al-Muqbel, was named to manage Iraq's accession file, noting that his recent visit to Baghdad contributed to addressing a number of important files. The ministry’s official spokesman, Muhammad Hanoun, said, “Iraq has joined as an observer in the World Trade Organization since 2004, and until 2023 this accession faced many problems and challenges, the most recent of which is the failure to pay dues to join the observer organization. However, after the announcement of the government program by Prime Minister Muhammad Shia Sudanese began working again on the possibility of Iraq joining this organization, as two sessions took place and a dialogue was held with the organization by the Iraqi negotiating team headed by the Minister of Trade, Atheer Al-Ghurairi, which included all the relevant Iraqi ministries and bodies.

Al-Atwani calls on the International Monetary Fund and the World Bank to provide the necessary support to Iraq link to My FX Buddies Blog https://www.myfxbuddies.com/2024/02/al-atwani-calls-on-international.html The media office of the Chairman of the Finance Committee stated in a statement received by the Iraqi News Agency (INA), that “The Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, participated this evening, Monday, via closed-circuit television, in the deliberative meeting of the International Monetary Fund regarding the financial and economic situation in Iraq.” He added, "Al-Atwani provided a complete briefing on the financial and economic situation and the provisions and programs included in the tripartite budget law for the years (2023-2025) that are consistent with the government program to advance various sectors, activate the private sector, encourage investment, and support investors, in order to achieve sustainable development."

The disappearance of 1.2 trillion dinars.. ⁠link⁠ to My FX Buddies Blog https://www.myfxbuddies.com/2024/02/the-disappearance-of-12-trillion-dinars.html Data from the Central Bank of Iraq shows a decrease in the amount of printed currency by 1.2 trillion dinars between the months of November and December 2023, while Al-Sumaria News concluded, through a historical review of the printed currency, that this decrease in the amount of currency is the third largest decrease recorded in 20 years. According to data obtained by Al-Sumaria News, the total amount of “printed” currency in Iraq until December 2023 amounted to 101.4 trillion Iraqi dinars, a decrease from the amount of currency that was present in Iraq in November 2023, which then amounted to 102.6 trillion Iraqi dinars.