Clare: Rashid Bank launches the sale of national bonds and calls on citizens to invest
2/16/2025
Rashid Bank announced that it has directed its branches across the country to begin selling national bonds (first issue), which comes within the plans to enhance local investment.
The bonds include two different categories, according to a statement by the bank, a copy of which was received by {Al Furat News}, two categories: “The first, a bond worth 500 thousand dinars with an annual interest of 6% paid every six months for two years, at a rate of 3% every six months, and the other category, a bond worth one million dinars with an annual interest of 7.5% paid every six months for four years, at a rate of 3.75% every six months.
The bank called on all those wishing to purchase to visit its branches in various governorates. LINK
Clare: Central Bank announces details of its meetings with US Treasury and Federal Reserve
2/16/2025
The Central Bank announced, today, Sunday, the details of its meetings with the US Treasury and the Federal Reserve, which witnessed praise for the reform measures taken by the Central Bank and the Iraqi government in the banking sector.
The bank stated in an official statement received by {Al Furat News} that “the meetings praised the development of the US dollar cash distribution system in Iraq, describing it as “the most controlled and monitored system in the world”, due to its role in reducing manipulation and dollar smuggling operations.”
The statement explained that “the reforms also included a qualitative shift in foreign transfer operations, as the Central Bank took measures to address the risks associated with these operations, to reach levels comparable to transfers carried out by global banks.”
The bank pointed out that “international consulting firms (EY and Oliver Wyman) presented during the meetings plans to reform the public and private banking sector, in line with international standards, and to support the involvement of Iraqi banks in the global financial network.” LINK
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Clare: Three electronic payment services companies will be banned from dealing in dollars
2/16/2025 Sumerian News – Economy
Informed sources revealed that three electronic payment service companies will be banned from dealing in dollars.
Reuters quoted the sources as saying that “three companies will be banned.”Services Electronic payment in Iraq From dealing in dollars.
This came after Iraqi banking sources revealed Quoted According to diplomats working in Baghdad, new sanctions will be issued against 5 Iraqi banks that violated international standards and some of which transferred funds to illegal entities, while the Central Bank denied the veracity of this news.
The sources reported in a news report that I followed up on. Sumerian News, “The sanctions will include bank owners after at least one of the five banks was accused of working entirely for the benefit of One of Armed factions in Iraq.
It was later published that the five banks included in the measures are Misk Bank, Al-Sanam Bank, Al-Muttahid Bank, Al-Amin Bank, and Al-Mashreq Bank.
After including the five banks in the sanctions, 34 out of 44 private banks will be in Iraq It has been included in the sanctions to keep 5 Iraqi banks operating in Iraq In addition to 5 other Iraqi banks operating with Arab and foreign capital.. the total number of banks operating in Iraq 10 banks, in addition to other government banks, namely Rafidain Bank, Rashid Bank, Trade Bank of Iraq, and other specialized banks such as agricultural, industrial, and others. LINK
Courtesy of Dinar Guru: https://www.dinarguru.com/
Bruce [via WiserNow] We know that the rates have come up on the screens, but we also know that the rates are fluctuating, trading back and forth at a very high rate of speed…
Mnt Goat Article: “AMERICA STOPS THE DOLLAR CASH TO IRAQ: WILL THE DOLLAR RISE AGAINST THE DINAR?” All I can say is its about time! But this is a major change and there will be adjustments that will have to be made…how can the CBI get the dinar to be worth more than the dollar? Is it time to conduct the in-country RV to just over a dollar?
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BREAKING NEWS Iraq to End $19 Billion Loss +PM Meeting w/US Senator
Edu Matrix: 2-16-2025
BREAKING NEWS Iraq to End $19 Billion Loss +PM Meeting w/US Senator Iraq’s oil industry is on the brink of a major comeback! Today, Foreign Minister Fuad Hussein announced that efforts are underway to resolve technical issues with the Kurdistan Regional Government (KRG) to resume crude oil exports to Turkiye.
With a staggering $19 billion in revenue lost over nearly two years, this development could significantly impact Iraq’s economy. Hussein shared that a legal framework has been established, and talks are now focused on technical details.
Optimism is high that negotiations could kick off next week, leading to swift resolutions. Join us as we explore the implications of this crucial news for Iraq’s financial future!
https://www.youtube-nocookie.com/embed/qajOghAt1xk?feature=oembed&enablejsapi=1
