Federal Reserve Praises Development of US Dollar Cash Distribution System in Iraq
The Central Bank announced, today, Sunday, the details of its meetings with the US Treasury and the US Federal Reserve.
The video for this blogpost is below here:
The Central Bank stated in a statement received by / Al-Maalouma / agency, that “the first quarterly meetings for the year 2025 with the US Treasury and the US Federal Reserve, which were held in Dubai with the participation of international auditing and consulting firms (EY, K2 Integrity, Oliver Wyman), ended and the meetings were crowned with praise for the steps taken by the Central Bank of Iraq and the Iraqi government to reform the banking sector.”
He added that "the most important steps that have been taken are the development of the cash distribution system for the US dollar in Iraq, which they considered the most controlled and controlled system in the world, which limits manipulation and smuggling of the US dollar."
The Central Bank explained that “the consulting firms (EY and Oliver Wyman) reviewed the plans to reform the public and private banking sector and upgrade it in line with international standards and to facilitate the involvement of Iraqi banks in the international financial relations network
. international correspondent banks in the Iraqi banking sector.”
SAT FEB 15 2025 Iraqi News
this is one of those articles they definitely wanted the citizens to see I posted 2 versions here
Foundation warns of 'parallel banking system' and 'shadow economy' in Iraq
The "Iraq Al-Mustaqbal" Foundation for Economic Studies and Consultations warned, on Saturday, of the danger of the parallel banking system, which constitutes about 84% of the "informal" economy in the country, considering this system to "limit the ability of official bodies to monitor the movement of funds."
The head of the institution, Manar Al-Obaidi, said in a statement published today, a copy of which was received by Shafaq News Agency, that "in the Iraqi economy, the parallel banking system stands out as one of the major challenges that directly affects the stability of the financial system."
He explained that "this system consists of a group of financial institutions that operate outside the official framework and without supervision from regulatory authorities, but nevertheless play an influential role in the economic scene."
Al-Obaidi also pointed out that “these institutions have emerged gradually over the past twenty years, starting from simple financial activities until they developed into entities that provide services similar to official banks, such as: lending, credit facilities, receiving deposits, and transferring money internally and externally,” adding that “among these institutions we find salary distribution outlets, exchange shops, consumer associations, and even some non-profit organizations.”
He added, "These institutions were able to achieve widespread popularity for several reasons. The first is the absence of effective oversight, which made work procedures easier compared to official banks, which attracted many customers looking for flexible and fast alternatives. The second and more important reason is the great demand from owners of small and medium enterprises."
The head of the institution noted that "in Iraq, this type of project constitutes about 84% of the informal economy, and they are projects that are not officially registered, which deprives them of access to traditional banking services and pushes them to resort to these parallel financial institutions.
He pointed out that "the existence of an official banking system and a parallel one represents a great danger to the Iraqi economy, as it enhances the phenomenon of the shadow economy and limits the ability of official bodies to monitor the movement of funds," considering that "this gap opens the door to many illegal practices such as tax evasion and money laundering."
Al-Obaidi pointed out that "to deal with this situation, it is necessary to adopt firm solutions aimed at closing the gap between the two systems," indicating that "this can be achieved by preventing unauthorized banking activities, and working to encourage small and medium enterprises to join the formal sector by providing attractive incentives."
He continued by saying that “legal frameworks can be put in place to regulate the work of informal financial institutions and place them under the supervision of the central bank to ensure a minimum level of oversight. In the most serious cases, the optimal solution may be to completely close unlicensed institutions and link all banking operations to formal institutions.
Al-Obaidi continued, saying, “The Iraqi experience has shown that the shadow economy may exceed the size of the official economy, which poses a major challenge to the relevant authorities in most cases,” stressing that “previous attempts to control it have failed due to its ability to adapt to new circumstances and maneuver any regulatory measures.”
The head of the “Iraq Al-Mustaqbal” Foundation concluded that “for this reason, dealing with this challenge requires a balanced strategy that combines firmness in applying laws and flexibility in providing legal paths for these institutions to integrate into the formal economy, while ensuring the protection of the economy from potential risks.”
Manar Al-Obaidi: The shadow economy in Iraq exceeds the size of the formal economy
The parallel banking system in Iraq is one of the major challenges that directly affects the stability of the financial system, as it consists of a group of financial institutions that operate outside the official framework and without supervision from regulatory authorities.
Economic researcher Manar Al-Obaidi said, in a clarification received by "Baghdad Today", today, Saturday (February 15, 2025), "Institutions play an influential role in the economic scene, and they have gradually emerged over the past twenty years to provide services similar to official banks such as lending, credit facilities, receiving deposits, and transferring money internally and externally."
He added, "Among these institutions, there are salary distribution outlets, exchange shops, consumer associations and even some non-profit organizations. These institutions have been able to achieve widespread expansion due to the absence of effective oversight, which has made work procedures easier compared to official banks and attracted many customers looking for flexible and fast alternatives."
He continued: "One of the main reasons for the spread of this system is the great demand from owners of small and medium enterprises, which constitute about 84% of the informal economy in Iraq, as it is difficult for them to access traditional banking services due to their lack of official registration, which forces them to deal with parallel financial institutions."
He explained that "the existence of a formal and parallel banking system poses a threat to the Iraqi economy, as it enhances the phenomenon of the 'shadow economy' and limits the ability of official bodies to monitor the movement of funds, which opens the way for illegal practices such as tax evasion and money laundering."
He pointed out that "to deal with this situation, it is necessary to adopt firm solutions, such as "closing the gap between the two systems", by preventing unauthorized banking activities, and encouraging small and medium enterprises to join the formal sector by "providing attractive incentives". Legal frameworks can also be put in place to regulate the work of informal financial institutions under the supervision of the Central Bank to ensure the necessary oversight."
He stressed that "the Iraqi experience is an example that the 'shadow economy' may exceed the size of the formal economy, which represents a major challenge for the relevant authorities. In light of this, this situation requires a balanced strategy between strictly enforcing the laws, while providing legal paths for these institutions to integrate into the formal economy, in a way that ensures the protection of the economy from potential risks."
The President of the Republic and the Parliament discuss the general situation in the country
A statement by his office, received by {Euphrates News}, stated that: "The meeting discussed the general situation in the country, as well as all regional and international developments."
Rashid stressed "the importance of strengthening cooperation between the Presidency of the Republic and the Council of Representatives and following up on draft laws submitted by the Presidency for the purpose of discussing and approving them in a way that secures the rights of all citizens."
For his part, Al-Mashhadani expressed his thanks and appreciation to Rashid for his efforts in enhancing political stability in the country, and his keenness to preserve the rights of the people, stressing "the endeavor of the Presidency of the Council of Representatives to move forward in completing its tasks in a way that achieves the supreme interests of Iraq and its people."
Politician accuses America of obstructing the construction of power stations in Iraq
Today, Saturday, the leader of the Sovereignty Alliance, Majeed Al-Dulaimi, accused America of being involved in obstructing projects to establish power plants in Iraq to end the electricity crisis for political reasons.
In a statement to / Al-Maalouma / agency, Al-Dulaimi said that “dozens of investment companies specialized in the energy sector have submitted investment offers to establish power plants in Anbar Governorate and other governorates.”
He added that "the central government has received attractive offers from international investment companies specialized in establishing power plants in Iraq, but America is placing obstacles in the way of these countries under the pretext of terrorist threats," indicating that "the steps to connect electricity with Jordan are still far from the level of ambition and are not useful."
He continued, “All solutions are to import electricity from neighboring countries or establish small power plants.”
Al-Sudani returns to the capital, Baghdad, after participating in the Munich Security Conference
Prime Minister Mohammed Shia al-Sudani returned to the capital, Baghdad, today, Saturday (February 15, 2025), after his active participation in the 61st Munich Security Conference, where he held a series of important meetings with international leaders and high-level officials.
According to a statement from his media office, received by Baghdad Today, the most prominent meetings that took place during the conference were:
1. Chairman of the Yemeni Presidential Leadership Council Rashad Al-Alimi: The two sides discussed ways to enhance bilateral relations and support stability in the region.
2. Commander of NATO's Joint Operations Command Admiral Stuart Munch: Security and military cooperation between Iraq and NATO was discussed.
3. British National Security Adviser Mr. Jonathan Powell: The meeting discussed strengthening bilateral relations and cooperation in the areas of security and stability.
4. Executive Director of the United Nations Office on Drugs and Crime (UNDOC): Ways to combat organized crime and drugs were discussed.
5. UNRWA Commissioner-General Philippe Lazzarini: The two sides discussed supporting Palestinian refugees and improving their humanitarian conditions.
6. European Commissioner for the Mediterranean, Dubravka Schuetze: Strengthening cooperation between Iraq and the European Union was discussed.
7. CEO of the International Crisis Group (ICG) Comfort Ero: The two sides discussed ways to resolve regional crises.
8. ICC Prosecutor Karim Khan: Cooperation in the field of international justice was discussed.
9. US Senator Elissa Slotkin: The two sides discussed Iraqi-American relations.
10. Delegation from Klas Company, specialized in agricultural equipment: Ways to develop the agricultural sector in Iraq were discussed.
11. CEO of the German company (Veridos), Mark Seifert: The two sides discussed cooperation in the field of technology and digital security.
12. Chairman of the Spanish Indra Group, Angel Escribano: Cooperation in the field of technology and defense was discussed.
13. Airbus Executive Vice President Stefan Thomé: The two sides discussed ways of cooperation in the field of aviation and defense industries.
14. Planet CEO Will Marshall: Collaboration in space technology was discussed.
This conference comes within the framework of the ongoing efforts to strengthen international relations and support regional stability, as Mr. Al-Sudani stressed Iraq's commitment to an active role in achieving peace and development in the region.
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Central Bank announces details of its meetings with the Treasury and the Federal Reserve
The Central Bank announced the end of the first quarterly meetings for the year 2025 with the US Treasury and the US Federal Reserve, which were held in Dubai / United Arab Emirates with the participation of international auditing and consulting firms (EY, K2 Integrity, Oliver Wyman). The meetings culminated in praise for the steps taken by the Central Bank of Iraq and the Iraqi government in reforming the banking sector, the most important of which were:
- The development of the US dollar cash distribution system in Iraq, which they considered the most controlled and monitored system in the world, which limits manipulation and smuggling of the US dollar.
- The qualitative shift in foreign transfer operations and the steps taken by the Central Bank of Iraq to address the risks arising from these operations, which have now risen to the levels of transfer operations carried out by international banks.
- The consulting firms (EY and Oliver Wyman) reviewed the plans to reform and upgrade the public and private banking sectors in line with international standards and to facilitate the involvement of Iraqi banks in the international financial relations network.
Since the operations carried out by banks operating in Iraq depend largely on the trust of international correspondent banks in the Iraqi banking sector, we emphasize the need to ensure that the official channels of this bank are adopted to know the latest news and not to transmit incorrect news such as some Iraqi banks being subject to international sanctions and others.Central Bank of Iraq
Media Office
February 16, 2025
Reuters: The Central Bank of Iraq will prevent 5 local banks from dealing in dollars
3 payment service companies banned
Reuters, citing two informed sources:
The Central Bank of Iraq will prevent 5 local banks from dealing in dollars at the request of the US Treasury
3 payment service companies will be banned from dealing in dollars according to the US Treasury’s request
America submitted its request due to serious monetary violations and smuggling of dollars out of the country
Central Bank denies intention to impose new sanctions on Iraqi banks
The Central Bank of Iraq denied, on Sunday, circulating news claiming that the United States intends to punish 5 Iraqi banks, while indicating that the US Treasury Department and the Federal Reserve consider the dollar cash distribution system in Iraq to be "the most controlled and monitored in the world."
A statement by the bank received by "Mil" stated that "the Central Bank announces the end of the first quarterly meetings for the year 2025 with the US Treasury and the US Federal Reserve, which were held in Dubai/United Arab Emirates with the participation of international auditing and consulting firms ( EY , K2 Integrity , Oliver Wyman ), and the meetings culminated in praise for the steps taken by the Central Bank of Iraq and the Iraqi government in reforming the banking sector."
He added that the most important of these is "the development of the US dollar cash distribution system in Iraq, which they considered the most controlled and monitored system in the world, which limits manipulation and US dollar smuggling operations."
The statement referred to "the qualitative shift in foreign transfer operations and the steps taken by the Central Bank of Iraq to address the risks arising from these operations, which have now risen to the levels of transfer operations carried out by international banks."
He added that "the consulting firms ( EY and Oliver Wyman ) reviewed the plans to reform the public and private banking sectors and upgrade them in a manner consistent with international standards and facilitating the involvement of Iraqi banks in the international financial relations network."
He explained that "since the operations carried out by banks operating in Iraq depend largely on the confidence of international correspondent banks in the Iraqi banking sector, we stress the need to ensure that the official channels of this bank are adopted to know the latest news and not to transmit incorrect news such as some Iraqi banks being subject to international sanctions and others."
By Names.. New Leaks About US Banking Restrictions on Iraq - Urgent
In a new development regarding the Iraqi banking sector, information has been received about the instructions issued by the US Treasury Department, which are set to impose restrictions on a number of banks and electronic payment companies in Iraq.
According to a special source for Baghdad Today, the restrictions will include five private banks and three electronic payment companies, while they will not include government banks.
The restrictions included five private banks: “Al-Mashreq, Al-Muttahid, Al-Sanabel, Ayna Al-Iraq, and Al-Misk,” in addition to three electronic payment companies: “Amwal, Al-Qassa, and Al-Saqi.”
Although the restrictions only affect private banks and companies, they raise questions about the potential impact on the Iraqi economy and financial relations with the international banking system. It is worth noting that these developments come at a sensitive time for the Iraqi economy, which is facing major challenges.
In the context, two informed sources reported today, Sunday, February 16, 2025, that the Central Bank of Iraq will prevent local banks from dealing in dollars .
Reuters quoted the two sources as saying: "The Central Bank of Iraq will prevent 5 local banks from dealing in dollars at the request of the US Treasury."
The two sources added that "three payment services companies will be banned from dealing in dollars, according to the US Treasury's request."
They pointed out that "America submitted its request due to serious monetary violations and the smuggling of dollars out of the country ."
Earlier today, Sunday, the Central Bank of Iraq denied news that Iraqi banks were subject to international sanctions, calling for "reliance on official channels to find out the latest news."
Kurdistan oil exports.. Baghdad wants to compensate for the loss of 19 billion dollars
Iraqi Foreign Minister Fuad Hussein confirmed on Saturday that Baghdad is working to settle technical issues with the Kurdistan Regional Government to restart the crude oil export pipeline to Turkey, after a nearly two-year closure that cost Iraq about $19 billion in lost revenues.
“The legal framework has been agreed upon, and now it is a matter of technical questions between the oil companies and the federal and regional governments to start exporting,” Hussein told Bloomberg on the sidelines of the Munich Security Conference. “The discussion now between the two governments is about the number of barrels, whether it can be exported and how many barrels will be used for domestic consumption.”
He explained that "oil production in the region is about 280,000 to 300,000 barrels per day, and the Kurdistan Regional Government estimates its needs for local consumption, including power generation, at about 110,000 to 120,000 barrels per day, adding that Baghdad believes that a smaller number may be sufficient."
Asked how much oil was needed for domestic use, Hussein said: “I hope they can start talking to each other next week and I think if they reach an agreement in a few days, it will be over.”
Turkey halted flows on the pipeline, which carries oil from Iraq’s Kurdistan Region to the Turkish port of Ceyhan, in March 2023 after an arbitration court ordered it to pay Iraq about $1.5 billion in compensation for transporting oil without Baghdad’s approval. Ankara refused to pay the fine at the time and demanded that Erbil pay it.
Regarding the crisis, the Iraqi Foreign Minister saw it as a "small dispute," noting that it can be dealt with when the two countries engage in talks to renew the oil transport contract, which will expire next year, and if oil exports begin, such issues will be resolved.
According to Hussein, the chances of restarting the pipeline “as soon as possible” have increased after the Iraqi parliament approved an amendment to the budget law to increase the payment for production and transportation to $16 from $6 per barrel. He added that oil companies have agreed to pay, which is a “temporary” arrangement until a third-party investigation by foreign experts into the actual cost of production and transportation is completed.
He continued: "When the pipeline is ready and when the oil companies are ready, they can export. Until there is an assessment of the real cost, it will be $16 per barrel. That can be changed."
“Iraq’s production will remain limited because we are committed to OPEC and OPEC+ agreements, but it is important for Iraq to export oil again through this pipeline. We don’t have any other pipeline other than this. So having a working pipeline is important for us. It gives some kind of security in this terrible situation in the world and in our region that we can export our oil,” Hussein concluded.
The closure of the pipeline has halted Iraqi oil exports by about 500,000 barrels per day, and the resumption of oil flows from Kurdistan may ease some of the impact on markets due to reduced shipments from Iraq, the main source of crude.
Iraq had been exporting about 400,000 to 500,000 barrels per day from northern fields, including the Kurdistan Region, through the now-defunct pipeline. Oil Minister Hayan Abdul Ghani said earlier this month that Iraq plans to transport at least 300,000 barrels per day of crude oil once operations resume. He added that the Iraqi administration has also begun a formal process to persuade the regional government to transfer the oil to the federal oil marketing company (SOMO).
Turkey has repeatedly said the pipeline is operational and it is up to Iraq to resume flows, and the United States has expressed a strong desire to see oil flowing through the Iraq-Turkey pipeline.
Resuming shipments through the pipeline could pose a dilemma for Baghdad, which is committed to cutting crude production as part of the OPEC+ deal but has struggled to deliver on promised cuts.
OPEC's production and exports are under increased scrutiny after US President Donald Trump last month called on the group to "bring down the price of oil".
Foreign Minister: Kurdistan Region's production reaches 300,000 barrels per day
Iraqi Foreign Minister Fuad Hussein confirmed on Saturday that Baghdad is working to resolve technical issues with the Kurdistan Regional Government to restart the crude oil export pipeline to Turkey, after a nearly two-year closure that cost Iraq about $19 billion in lost revenues.
“The legal framework has been agreed upon, and now it is a matter of technical questions between the oil companies and the federal and regional governments to start exporting,” Hussein told Bloomberg on the sidelines of the Munich Security Conference. “The discussion now between the two governments is about the number of barrels, whether it can be exported and how many barrels will be used for domestic consumption.”
He explained that "oil production in the region is about 280,000 to 300,000 barrels per day, and the Kurdistan Regional Government estimates its needs for local consumption, including power generation, at about 110,000 to 120,000 barrels per day, adding that Baghdad believes that a smaller number may be sufficient."
Asked how much oil was needed for domestic use, Hussein said: “I hope they can start talking to each other next week and I think if they reach an agreement in a few days, it will be over.”
Turkey halted flows on the pipeline, which carries oil from Iraq’s Kurdistan Region to the Turkish port of Ceyhan, in March 2023 after an arbitration court ordered it to pay Iraq about $1.5 billion in compensation for transporting oil without Baghdad’s approval. Ankara refused to pay the fine at the time and demanded that Erbil pay it.
Regarding the crisis, the Iraqi Foreign Minister saw it as a "small dispute," noting that it can be dealt with when the two countries engage in talks to renew the oil transport contract, which will expire next year, and if oil exports begin, such issues will be resolved.
According to Hussein, the chances of restarting the pipeline “as soon as possible” have increased after the Iraqi parliament approved an amendment to the budget law to increase the payment for production and transportation to $16 from $6 per barrel. He added that oil companies have agreed to pay, which is a “temporary” arrangement until a third-party investigation by foreign experts into the actual cost of production and transportation is completed.
He continued: "When the pipeline is ready and when the oil companies are ready, they can export. Until there is an assessment of the real cost, it will be $16 per barrel. That can be changed."
“Iraq’s production will remain limited because we are committed to OPEC and OPEC+ agreements, but it is important for Iraq to export oil again through this pipeline. We don’t have any other pipeline other than this. So having a working pipeline is important for us. It gives some kind of security in this terrible situation in the world and in our region that we can export our oil,” Hussein concluded.
The closure of the pipeline has halted Iraqi oil exports by about 500,000 barrels per day, and the resumption of oil flows from Kurdistan may ease some of the impact on markets due to reduced shipments from Iraq, the main source of crude.
Iraq had been exporting about 400,000 to 500,000 barrels per day from northern fields, including the Kurdistan Region, through the now-defunct pipeline. Oil Minister Hayan Abdul Ghani said earlier this month that Iraq plans to transport at least 300,000 barrels per day of crude oil once operations resume. He added that the Iraqi administration has also begun a formal process to persuade the regional government to transfer the oil to the federal oil marketing company (SOMO).
Turkey has repeatedly said the pipeline is operational and it is up to Iraq to resume flows, and the United States has expressed a strong desire to see oil flowing through the Iraq-Turkey pipeline.
Resuming shipments through the pipeline could pose a dilemma for Baghdad, which is committed to cutting crude production as part of the OPEC+ deal but has struggled to deliver on promised cuts.
OPEC's production and exports are under increased scrutiny after US President Donald Trump last month called on the group to "bring down the price of oil".
Advisor to the Prime Minister: The principle of partnership with the private sector will strengthen the digital bond in its best form
Advisor to the Prime Minister for Financial Affairs, Mazhar Mohammed Saleh, confirmed today, Sunday, that the principle of partnership between the state and the private sector will strengthen the digital bond in its best form, indicating that digital industrial licenses facilitate obtaining industrial investment licenses through electronic platforms, and he stressed that entering into electronic governance will provide a high level of disclosure and transparency and a high level of information for the flow of trademarks.
Saleh said, in an interview with the Iraqi News Agency, followed by "Al-Eqtisad News", that "the Iraqi government seeks, according to the government program, to transform the processes of registering trademarks through digital platforms that facilitate the registration and protection of their trademarks for merchants and industrialists according to high governance and speed, in addition to digital industrial licenses that lead to facilitating the obtaining of industrial investment licenses through electronic platforms."
He added, "Industrial analysis and data services are a mechanism for providing industrial data and statistics via digital systems to facilitate decision-making related to the industry, as well as digital training and consulting, development and capacity building, such as organizing training courses on digital transformation tools and participating in online consulting programs at the same time."
Saleh explained that "entering into e-governance will provide a high level of disclosure and transparency and a high level of information for the flow of important brands that are consistent with the development of industrial development activity in the country, and interaction with technology sources in the world reflected by brands of global companies that are important in technological development," noting that "this in turn leads to accelerating the encouragement of research and development projects to enhance national industrial innovation in a renewed digital industrial age for Iraq."
He stressed that "the principle of partnership between the state and the private sector will strengthen the digital bond in its best form," explaining that "the objectives of the private sector development strategy also aim to have its contribution to the gross domestic product reach approximately 53 percent within a decade instead of its current status of 37 percent through diversifying investment in fields with industry at the forefront to generate diverse national production, which will lead to accelerating the reduction of unemployment to one decimal place and making it at the natural limit and not exceeding 4 percent of the total workforce."
He pointed out that "the industrial cities that will be built on the development path will represent the highest types of industrial modernization by taking advantage of the digital platforms that are being built for this purpose to accelerate obtaining the relevant industrial and commercial licenses."
Baghdad tells Washington it wants to keep US forces in Iraq - Urgent
Sources from Washington reported today, Sunday, February 16, 2025, that the US administration was informed by the Iraqi government that it wants US forces to remain on Iraqi territory.
The sources told Baghdad Today that "Baghdad's statement to Washington included its desire to abandon the agreement concluded between the two countries, which stipulates the withdrawal of American forces by September 2025 in the first phase."
On September 27, 2024, Iraq and the United States announced that the US-led coalition's military mission in Iraq would end by September 2025, with a transition to bilateral security partnerships.
The joint statement explained that "the coalition's mission will end within 12 months and no later than the end of September 2025," adding that "the coalition's military mission in Syria will continue until September 2026."
Earlier in September 2024, Baghdad and Washington reached an agreement on the withdrawal of international coalition forces from Iraq, according to a plan that is being implemented in stages.
Sources told Reuters a few days ago that the plan includes the withdrawal of hundreds of US-led coalition forces by next September and the rest by the end of 2026.
Iraq and Germany discuss enhancing bilateral cooperation and consolidating economic partnership between the two countries
The Undersecretary of the Ministry of Foreign Affairs for Bilateral Relations, Mohammed Hussein Mohammed Bahr Al-Uloom, discussed with the German Ambassador, Christiane Homann, enhancing bilateral cooperation and consolidating the economic partnership between the two countries.
A statement by the Ministry of Foreign Affairs stated that Bahr Al-Uloom received the German Ambassador at the ministry's headquarters and the two sides discussed ways to enhance cooperation between Iraq and Germany, stressing the importance of consolidating the economic partnership and increasing the volume of trade exchange, in addition to intensifying mutual visits and activating existing bilateral agreements to achieve the common interests of the two friendly countries. "
The Undersecretary welcomed, according to the statement, the work of German companies in Iraq, praising the role of BAYER Chemical Industries, stressing the great potential that Germany can contribute to supporting Iraq's efforts to rehabilitate the infrastructure, especially within the framework of the "Development Road" project.
He pointed to the ongoing efforts to facilitate the work of German development agencies in Iraq, calling at the same time to cancel travel warnings to Iraq, which contributes to strengthening bilateral relations.
For her part, the German Ambassador expressed her appreciation for the level of ongoing cooperation between the two countries, praising the developments witnessed by Iraq in various fields, which reflect the efforts of the Iraqi government to enhance stability and development. "
Christiane Homann also welcomed the measures taken by Iraqi diplomatic missions abroad, especially with regard to providing facilities to Iraqi communities by activating the system for issuing and printing passports and the unified national card, stressing her country's commitment to continuing cooperation and coordination with Iraq in a way that serves common interests."
In the context of regional developments, the Foreign Undersecretary reviewed the Iraqi government's approach to dealing with current challenges, stressing the importance of adopting dialogue to spare the region the repercussions of regional tensions. "
Bahr al-Ulum also discussed, according to the statement, the developments in Syria, stressing the need to respect the will of the Syrian people in determining their political future, warning of the escalation of the activity of the terrorist organization ISIS, which calls for intensifying regional and international cooperation to confront this common threat."
At the end of the meeting, the two sides stressed the importance of intensifying diplomatic efforts to reduce regional tensions, enhance humanitarian and relief support, coordinate joint efforts in combating terrorism, and work to support a political path in Syria that ensures respect for human rights and reflects societal diversity.
Politician accuses America of obstructing the construction of power stations in Iraq
Today, Saturday, the leader of the Sovereignty Alliance, Majeed Al-Dulaimi, accused America of being involved in obstructing projects to establish power plants in Iraq to end the electricity crisis for political reasons.
In a statement to / Al-Maalouma / agency, Al-Dulaimi said that “dozens of investment companies specialized in the energy sector have submitted investment offers to establish power plants in Anbar Governorate and other governorates.”
He added that "the central government has received attractive offers from international investment companies specialized in establishing power plants in Iraq, but America is placing obstacles in the way of these countries under the pretext of terrorist threats," indicating that "the steps to connect electricity with Jordan are still far from the level of ambition and are not useful."
He continued, “All solutions are to import electricity from neighboring countries or establish small power plants.”
Al-Rasheed directs its branches to sell national bonds in two categories
Today, Sunday, Rashid Bank directed its branches to sell national bonds (first issue) in two categories.
1. Bond of category (50,000) dinars (five hundred thousand dinars) with an annual interest of (6%) paid every six months for a period of two years at a rate of 3% every six months
. 2. Bond of category (1,000,000) dinars (one million dinars) with an annual interest of (7.5%) paid every six months for a period of four years at a rate of (3.75%) every six months.
The bank called on “all those wishing to purchase to visit the bank’s branches.”
Opening a new gate in the Green Zone in central Baghdad.. The parliament building will be without barriers
A security source in Baghdad reported on Sunday that concrete barriers were being removed to open the gate linking the House of Representatives to the entrance to the Olive Tunnel.
The source told Shafaq News Agency, "There are mechanisms belonging to the special unit responsible for protecting the Green Zone, which have begun the process of lifting concrete slabs to open the gate that connects the House of Representatives to the entrance to the Olive Tunnel and near the Legislation Gate."
It is noteworthy that an informed security source reported earlier that high-level decisions were taken to open the Green Zone and end traffic congestion in the capital, Baghdad.
On April 30, 2023, Iraqi Prime Minister Mohammed Shia al-Sudani directed citizens to be allowed to increase the hours of use of the Green Zone roads in central Baghdad.
The Iraqi security authorities allow the opening of the entrances to the Green Zone for the movement of citizens’ vehicles at the entrances and exits of the Olive Tunnel towards the Green Zone, Damascus Square (Alawi) towards the suspension bridge, Al-Harithiya, from five in the morning until seven in the evening.
The fortified Green Zone includes government buildings in addition to the headquarters of diplomatic missions and foreign embassies in Iraq.
Al-Sudani in Munich.. Why did his visit not include meetings with American, Turkish and Syrian officials?
Doubts about the future of relationships and negative messages"
With the presence of the Iraqi Prime Minister, Mohammed Shia al-Sudani, at the Munich Security Conference, many questions were raised about the absence of meetings with senior officials, especially Americans, during his visit, in addition to meetings related to the issue that is considered the most important in the Middle East at present, the Syrian crisis. His visit also did not witness a meeting with Turkish or Syrian officials.
On Thursday, February 13, Al-Sudani headed to Germany to participate in the Munich Security Conference. Over the course of four days, the Prime Minister met with leaders and officials from various countries around the world (most of whom were representatives of international organizations, companies, and bodies) who participated in the summit, and discussed with them “opportunities for economic cooperation with Iraq,” as stated in official statements.
An Iraqi government official source revealed the reason for Prime Minister Mohammed Shia al-Sudani not meeting with American, Turkish, or Syrian officials during his participation in the 61st Munich Security Conference, while a strategic affairs specialist spoke of "negative messages" from the matter.
The source told Al-Jabal today, Sunday, that "there is no political or other objection to Al-Sudani not meeting with any American, Turkish or Syrian official during his participation in the Munich Security Conference, a few days ago," indicating: "There was an agenda that was set in advance, and due to the pressure of meetings for Al-Sudani as well as for other officials, no bilateral meetings were held for technical reasons. There are no political or other reservations on the part of Al-Sudani or other officials regarding the meeting."
According to the source who requested anonymity, "Al-Sudani and his government team are in constant contact and have good and strong relations with the American side as well as the Turkish and Syrian sides, and there will be bilateral meetings during the next stage in Baghdad and elsewhere," claiming that "Iraq's relations are at their best with all regional and international axes, and they are balanced relations with all those parties without any bias."
"negative messages"
For his part, strategic affairs expert Ahmed Al-Sharifi confirmed today, Sunday, that Prime Minister Mohammed Shia Al-Sudani's failure to meet with some important officials during his participation in the 61st Munich Security Conference sent negative messages.
Al-Sharifi told Al-Jabal: “There were supposed to be meetings and meetings between Prime Minister Mohammed Shia al-Sudani and the important officials participating in the 61st Munich Security Conference, including Americans, Turks, Syrians, and others, and not to limit his meetings to just some officials in the European Union.”
Nechirvan Barzani reveals the content of his meeting with the US Secretary of State in Munich
The President of the Kurdistan Region, Nechirvan Barzani, revealed the contents of the meeting that brought him together with the new US Secretary of State, Marco Rubio, on the sidelines of participating in the Munich Security and Peace Conference, indicating that Iraq confirmed its position of its desire to play an active role in ensuring the security and stability of the region, as well as discussing files related to Syria.
This is the first meeting between Nechirvan Barzani and the foreign policy official in the Donald Trump administration in his second term as US president, and he is the only Iraqi official who met with him at the summit.
Nechirvan Barzani said in a press conference held today, Sunday, from Munich: "We held a good meeting with the American minister, as you know he started his work a short time ago, and we talked about common files between Iraq and America."
He added, "We stressed that Iraq wants to be an effective factor in achieving security and stability in the region," and its readiness to enhance cooperation to achieve security and stability.
“Syria was the focus of all the meetings we held, and we discussed the developments taking place there,” he said, explaining the Kurdistan Region’s position on the changes taking place in the neighboring country, saying: “As everyone knows, the ongoing transformation in Syria is a source of joy and welcome,” adding: “We hope that the transitional Syrian government will be able to involve all components in the new political process. The Kurdistan Region hopes that security and stability will prevail in Syria and that the Syrians will enjoy a good life.”
He added, "We hope that Syrian President Ahmed al-Sharaa will be able to achieve security and stability and meet all the demands and aspirations of the Syrians."
According to Nechirvan Barzani, the terrorism file and the fight against ISIS were a major focus of his discussions with the American official and all the officials he met at the World Summit in Germany. He stressed that “we still see ISIS as a threat to the Kurdistan Region, Iraq and even Syria, and we praised the support provided by the international coalition forces in fighting this organization and requested its continuation.”
Nechirvan Barzani praised the political and security situation inside Iraq, stressing that the Iraqi government has made significant progress in this regard, as it was able to overcome major threats, noting that "the biggest problem facing the government at the present time is the problem of traffic and traffic congestion," referring to the restoration of security.
Nechirvan Barzani had stated in a blog post on his official account on the "X" website, after the meeting that brought him together with the American official on Saturday, "Secretary of State Marco Rubio and I affirmed the strong partnership between the United States and the Kurdistan Region of Iraq. We discussed ways to enhance our cooperation and deepen our shared commitment to regional stability and security," adding: "I thanked the Secretary for his continued support."
Iraqi Economic Development: Pi Network And Education Set To Transform 2025
The integration of digital currencies and educational results aims to reshape Iraq's economic future dramatically.
Economic developments are dominating discussions across Iraq as 2025 greets innovative changes, particularly with the rise of cryptocurrency and educational milestones. A notable surge of interest has emerged surrounding the Pi Network, which promises to change the digital currency spectrum, and the impending announcements of educational results impacting many students.
On February 15, 2025, reports indicated the price of Pi Network's cryptocurrency reached $61.31, reflecting an 8.58% growth over the previous 24 hours. This spike coincided with the announcement of transitioning the Pi Network to open network status on February 20, marking the beginning of its trading phase after being under wraps for years. The fluctuations are noteworthy for the Iraqi economy, where local interests are weaving together technology and finance.
With the Pi Network demonstrated as capable of processing up to 1.19 million transactions per second, the benefits it could bring to Iraq’s financial infrastructure are immense. While the full impact is yet to be recorded, estimates suggest this digital currency could reshape how transactions are handled, optimizing efficiency and presenting new investment opportunities.
Meanwhile, the educational sector is seeing immense scrutiny as students eagerly await the outcomes of their performance, particularly those having completed the third intermediate stages last year. The Iraqi Ministry of Education confirmed on various platforms their commitment to releasing results online, intensifying the anticipation surrounding potential improvements or setbacks faced by thousands of students.
With online queries surging, citizens are flocking to platforms to stay up-to-date on these developments, eager to learn about not just their academic results but also how these benchmarks contribute to the country’s economic future. Amidst educational improvement initiatives, transparency from the government is seen as key to restoring trust and motivation within the community.
The correlation between educational results and economic growth cannot be overlooked. Adult literacy and educational attainment are powerful indicators of economic health, steering the current and future workforce capabilities. It is widely argued by economists and educators alike, backed by statistics showing higher academic achievement reduces joblessness and increases local GDP.
The support from global efforts is also significant. With endorsements from significant figures and returns indicating some stabilization, there is cautious optimism within financial circles about the future of the Iraqi dinar against major currencies. This period is seen as pivotal for nurturing younger generations through education, simultaneously fostering technological infrastructures.
Looking forward, as Pi Network begins mainstream trading and educational results begin to roll out, all eyes will be on the data to see how these two factors might intertwine and influence the broader economic conditions. Predictions suggest substantial changes are on the horizon, with many stakeholders eager to assess their investment strategies and influence the decentralized economy positively.
With rising attention on digital currencies such as the Pi Network simultaneously taking place alongside educational reforms, it's compelling to observe the potential synergy. If the revolution of digital currency adoption partners effectively with educational enablement, Iraq might witness significant improvements across economic indicators, heralding new growth avenues.
This year marks the beginning of what could potentially reshape Iraq’s economic framework, bridging two pivotal areas: education and technology. Creating this linkage could not only fortify Iraq’s place on the economic map but also cultivate self-sufficiency among its youth, creating resilient and agile economic contributors for the future.
Therefore, as developments continue to evolve, it’s imperative for all relevant sectors, from government to local businesses, to engage with this changing economic atmosphere. Monitoring these intersections will provide meaningful insights as Iraq moves forward, with high hopes pinned on the blend of educational success and digital financial innovations.
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