Iraq Dinar News-CBI-Currencies-Global Systems-E Wallet-E Payments-E Taxation- Resuming Oil Days (Uncut) 02-27-2025

Hey everyone before I get started I just want to remind you that if you like my content hit that like button subscribe to my channel and then join the militia Man and crew patreon community by clicking the link in the caption Hey, good evening everybody, it’s militia man and crew today is Wednesday the 26th And I just want to say hi and I look who showed up little Winnie showed up. Yeah, she’s been Talking the blues because the Sun’s out the doors open and she’s able to go outside She’s in a good mood. But anyway, we have good news.

Today’s been a good mood I hope everybody is because I think that what we bring into patreon has been amazing I think all the information that our super Samson brought in this morning We hours in the morning for me It’s just been stellar. It’s been fantastic And so the central bank governor inaugurates the ninth finance and banking conference says here is excellency the governor stressed that the current stage is witnessing a significant development in the electronic payment system by increasing the number of ATMs and Credit wallets something new that we haven’t heard or talked about but ultimately it just it’s been increasing the financial inclusion of the country and Looks like it’s from about 20% in the past two years ago, and it’s up to 40% As they’re they’re moving forward. So it’s really good

The governor points out that the Iraqi banks are witnessing a qualitative transformations in their banking operations today especially with regard to financial transfers of different currencies By adopting approved global systems and programs that help them in these advanced transformations and financial services In his speech today.

He outlined the features of future banks that will transform from Traditional entities to smart digital platforms and issue digital financial entities that facilitate financial transactions And guess what without the need for banks?

I think banks are changing a lot around the world you guys It says the financial banking system will witness a decline of paper currencies to be replaced by digital payments for central banks and that central and that the central bank is moving to create its own digital currency, we’ve talked about that in the past and What it’ll do it’ll gradually replace the paper process as is happening in some central banks in the world already Indicating work to establish a data center because that’s what they’ll need in Iraq similar to the major Centers in the world as it is an indispensable part of the digital economy and a basis for artificial intelligence Applications big data analysis and the Internet

And it goes on to say that the central bank has begun steps in this direction calling for the formulation of comprehensive Iraqi vision for digital transformation So basically, what is it telling us? It says like they’re they’re gonna have a decline in paper currencies or gearing towards central bank digital currencies and ultimately, they’re just gonna have a lot less paper to deal with and Having artificial intelligence the applications the big data analysis and all that stuff is just an affirmation that the direction that they’re going in is going to be a comprehensive one and that that digital transformation has already been started and it’s already It’s been it’s been around a long time.

But now they’re openly the central bank governor today talking about it so He goes on to another article it says 1 million bank cards in Iraq and the central bank supports electronic wallets Stressing that the bank or the number of bank cards issued is about 17 million cards throughout Iraq.

That’s pretty big It’s just about half their population It says we again it succeeded in raising the rate of financial inclusion to more than 40% Central Bank has achieved international Integration by linking the electronic payment system to global networks that utter ring some bells you guys They’ve already achieved international integration by linking the Iraqi banks electronic bank system to global networks in which it will contribute to enhancing cross-border financial transactions and facilitating digital payment operations Central bank governor al-alak.

He says we directly supported the licensing and operation of electronic wallets via phone Which enabled more citizens to benefit from the digital banking services easily and safely He reveals the number of permanent electronic wallets. His wallets have reached 1.2 million wallets these achievements in the field of electronic payment systems represent a fundamental shift in the Iraqi financial system and Contribute to strengthening the financial infrastructure and achieving digital transformation

So here again today al-alak is very vocal on what’s going on with the country’s financial inclusion process Having those 17 million cards reaching that 40% Basically what the central bank has achieved is international integration by linking the electronic payment systems to global networks you guys they’re already ready to go and It just they’re Ultimately stating so it’s basically all of this is for the citizens the businesses investors locally regionally and internationally

So basically what I think Iraq’s opening up to the world and they have international acceptance So that’s to see how that turns out. Hey, so you guys the next one is still it’s basically going to be about the growth of electronic payment in Iraq This says the country has recently witnessed a remarkable expansion in the use of Electronic payment systems whether the private sectors such as companies stores Markets or even government institutions and departments.

I mean, they’re pretty much hitting up hitting the whole gambit, you know He this person that I forget his name doesn’t say just yet, but his name is Yeah, there is dr Mohammed is met by Adi. It says this trend is a part of the digital transformation strategy that the government seeks to achieve a broad financial administrative reforms

So they had an interview with the news and it says the government advisor a member of specialized team Explained that the electronic payment has many advantages most notably reducing corruption Reducing financial waste and narrowing the gap in lost tax amounts. That’s going to be a very big amount of money That we all know that the non oil revenues etc are going to be a big deal and all in the end of the day It’s going to support the value of the currency So mr. By Adi He says a member of the digital transformation advisory team of the General Secretary of the Council of Ministers stresses electronic payment is the cornerstone Of Iraq’s financial renaissance.

So this is like a new beginning It says the system enables broader financial inclusion like we talked about Which contributes to integrating large segments of society in the formal banking system? thus reducing the size of the parallel economy the black market and Enhancing the stability of its national currency So they’re looking to enhance the national stability of their currency Iraq has basically been Expanding the use of electronic payment systems in the private sectors as they stated with companies and stores and markets government institutions, etc So what does it tell us? So it tells us the trend is part of the digital transformation that she’s rolling out to the Iraqi people at this stage Okay, it says Not only it’s going to be Iraqi people, but it’s regionally because the cross-border payments and globally

So you it’s it’s amazing that what they’re having in their integration and we’re watching it So when they’re going to get all of the amount of revenue streams that they’ve got coming and they were doing it all digitally It’s going to be transparent. It’s going to be fast. It’s going to be efficient and it Provides a safety net for the people.

So that’s pretty Pretty powerful and I don’t know that we’ve ever seen this type of information coming out from the banking system let alone al-alaq This article is called the National Bank of Iraq wins the Excellence Award who is it from?

It’s from Citibank for all you folks that have been in the dinar for a long time If you remember back 15 or plus years ago Who was there Citibank was but Citibank in recognition of its outstanding performance gave the excellent? award to the National Bank of Iraq it says that the National Bank of Iraq announced that it won this excellent award from Citibank and it was in recognition for What its exceptional performance in managing incoming and outgoing financial transfers?

Stressing that this is an achievement that reflects its commitment to the highest standards of quality and transparency in banking services That’s the digital system. They’ve they’re ready to go This award is a global testament to the bank’s efficiency and implementing financial operations with utmost precision as it excels in ensuring That transactions are processed according to the highest International standards while providing the required documents to correct manner in the correct manner and on time Again fast efficiency. That’s what this was all about.

And of course Citibank has given the National Bank Who is what one of the leading banks in the Iraqi banking sector So basically the bank has worked to adopt the latest technologies to ensure speed and efficiency of these financial transfers Which provides customers with the safe and reliable banking experience. It’s always about the citizens They’re gonna be getting that at the end investors and the companies

Okay, it says the bank’s work team all at all administrative and functional levels have been providing the best banking services achieving the highest levels of accuracy and transparency stressing the bank’s commitment to continue to Do these operations? strengthening the partnerships with global financial institutions in a way that ensures the provision of advanced banking solutions and What are they going to do? They’re going to keep pace with all the aspirations of just the customers contribute to the support of the national economy.

So Ultimately these guys have been doing what they were supposed to do for what the last two years and here we are We’re watching them Do what they do what they said they were going to do and they are providing the needs of the customers enhance their financial confidence Providing integrated financial systems that support individuals and companies while adhering to the best international banking practices So here again, the CBI governor announces integration of Iraq’s e-payment system with global networks I don’t know how many times they got to talk about this, but Here in this particular article.

It says he emphasizes that he has achieved international integration By linking the Iraqi electronic payment system to global networks, so they’re just hammering at home today So I’ll lock in a speech again It says there’s a complete roadmap for digitization of banking services through these electronic payments as a key tool for this Transformation as a number of devices reached 63,000 devices in the governance of Iraq This one’s a little bit different because it mentions the 63,000 devices in the governances And then it says those number of ATMs they talk about 4,000 devices and a total of 17 million bank cards Ultimately it says the central bank supported the license and operation of mobile e-wallets So the central bank governor is talking about this allow

These e-wallets that allow charging Transferring and paying bills which raised the financial inclusion to again that 40% it says right here We have achieved international Integration by linking the Iraqi payment system to global payment networks Allowing the transformation of the acceptance of foreign cards, so the foreign cards cross-borders Locally and expanding so they can do the acceptance of foreign cards locally and expanding the acceptance of Iraq cards Internationally, I think you’d be guys understand that you realize that that’s cross-border payments, and that’s going to be At a digital level and it’s it’s also going to be needing a real effective exchange rate

They they’re not doing that today at 1310 But but here they’re telling you that they’re ready and capable of doing it so that’s that’s good So these achievements in the field of information technology and electronic payments the central bank are a fundamental shift in the financial system so Again another article from a lack international integration global payments transformation Foreign cards, they’ve talked about foreign currencies acceptance of these cards Internationally all of this is massive. Here’s another good article. It’s Meyer Soleil is an advisor He stresses that the importance of electronic payment in the digital transformation in Iraq.

That’s the article Maher Soleil He says Wednesday Electronic payment is one of the basic pillars as he says for achieving digital transformation So electronic payments are a pillar He says here that electronic payment contributes to reducing the size of the informal Economy, which is the parallel economy, right as it still constitutes about 70% of the operations of the Iraqi market And it also enhances transparency and financial transactions and increases a citizen’s confidence All that he’s just reiterating the same thing In that but the adoption of electronic payments basically contribute to reducing traditional transactions And based and again combat corruption money laundering, but it also contributes to accelerating commercial operations commercial operations and the capital cycle in the Iraqi market and Enhances the integration of the national in income cycle So digital transformation is and does lead to improving the management of the state’s financial resources Which enhances its ability to collect taxes fees more efficiently

And then it goes it says they’re at advanced levels of growth in building the unified Treasury account that’s where Baghdad and Kurdistan will share the money to be able to be facilitated for payments for not only oil but for salaries as We’ll note here shortly So ultimately what does it do? It also enables the Iraqi banking system to operate credit and grant loans and we saw that with the Rapidain Bank And even the Rashid Bank the other day So keep that in mind which enables the banking system to operate credit and loans like I mentioned it is Saying that they’ll have the least amount of banking liquidity risks Which effectively enhances the financial and economic development activity?

So again, so they’re hammering at home the top people and the top players in Iraq are talking about all this. So ultimately accelerating commercial operations the capital cycle Iraqi market Integration taking place supports the national economy all of this stuff that they’re talking about and speaking out is Just truly amazing. I Just can’t believe it today.

I think everybody has been kind of blown away with how much information that’s coming out on this today And so don’t forget, you know, we have other things that are going to be electronic and one of those things is the border outlets

The border outlets article is they are looking into implementing government decisions and imposing that state to prestige I’m not going to get into the whole Port Authority and all that good stuff, but The woman talking about this and says that the agenda today was discussed included many important paragraphs as the head of the Authority stressed the sustainability of electronic work in full cooperation with the General Authority of Customs to complete their project in electronic governance and integration with them developing electronic auditing operations and data intersection in all stages of completing Transactions related to goods that’s cross-borders in and out of the country

The most important of which is auditing receipts weights images of goods through sonar Following up on official approvals including exemption letters matching certificates of origin invoices prior inspection Border sequences delivery orders and shipping bills to ensure that the smooth flow of work according to the accurate and real data that cannot be tampered with

And what is it for it’s basically in order to increase the state revenues and prevent fraud and forgery Look what the borders security is to be expected to increase now So at this stage of the game they’re probably going to make sure that all the borders around the country are very tight and secure and they will have A Fabulous control with the new systems in play which reeks of the escada system which also in the end of in the in the I mean that view would be the World Customs Organization and ultimately we’ll probably hear some things about the WTO sometime soon We’ll see how that goes Parliamentary Oil Committee, so now they’re talking about the Parliamentary Oil Committee reveals a date for resuming regional exports and refute smuggling out Accusations in the south. Well, they’ve been talking about smuggling.

They’ve been talking about Money laundering Illegal behavior in the parallel market been talking about that a lot But anyway, the preliminary the Parliamentary Oil and Gas Committee revealed that this resumption of oil exports from the Kurdistan region will take place Early next week this gentleman by the name of Hadiri.

He says that the File of the region’s oil exports is complex and it is linked to multiple factors Most notably the relationship between exports and imports. It is natural for the Ministry of Oil and federal government to assume Responsibility for that management of the region’s contracts and Adapting them according to the law It says what they are doing is a radical solution in the crisis lies in approving the oil and gas law Which faces a lack of flexibility on the part of the region in passing it So they’re talking about something that they had in the past, but they’ve taken care of a lot of that business already. So Come into patreon check this out.

You can read it ultimately It says that so far that the amendments to the article 12 of the budget law are still continuing and they believe that there’s You know, they need to nip that smuggling In the bud that’s what this particular article is talking about and I would be not surprised with the pressure that we see mounting in many different sources and even this afternoon after I’ve done my My data for the day

There’s an article out talking specifically about some things that need to get taken care of that The pressure is immense and that’s coming from the United States So early next week cannot come fast enough as far as I’m concerned for exports through the cyan port Salaries are a key component oil flowing key component and all these things need an exchange rate There they haven’t done it before 1310.

They’re not going to do it now and again now they have a digital system in place So when they change the value of their currency based off what we believe That’ll be probably pretty seamless. It’ll be fast and efficient and it’ll be based off Evaluation that’s based off a real effective exchange rate of the IQD.

That’s that’s my belief of it So now we’re gonna have to watch and see if it holds true So here again full circle, but a little bit different topic, but we now we have al-sudani He’s talking to he’s looking forward to resuming those oil exports as they say from the Parliamentary Finance Committee early next week And that obviously is going through the cyan port He says holding such conferences with this high level of attendance and participation is evidence of Iraq’s recovery and the consolidation of the democratic practices as Open dialogues and frank debates have become an essential part of the political approach Enhances state building and serves the people’s aspirations to achieve that security and stability

He says today Iraq is moving with confident steps towards Integration with the international community Based on a clear vision based on cooperation effective partnership and sisterly and friendly countries and working to achieve a better future for the people Iraq’s government is basically Keen on getting this done over the last two years. They’ve they’ve been On a principle of Iraq first sounds familiar in addition to positive interaction with regional environment and the international community We’ve strengthened our relations with sisterly and friendly countries common interests mutual respect Which has made Iraq a bridge for dialogue and cooperation and which contributed to restoring its leading role In the region under a concept that we have adopted a practical approach and that we have called productive diplomacy

so Al sudani explains Iraq’s openness of the region or international levels as part of the ongoing approach to expanding economic partnerships benefiting from International expertise to support the national economy as these efforts are not limited to a specific party but rather include all partners in the international community as a cooperation is being strengthened in various fields ensure achieving sustainable development and a mutual benefit for everybody So that’s all of this is really coming together full circle. That’s pretty happening.

I love it So it says for this reason we launched the development road project To be an economic cultural and social bridge Linking Asia to Europe the government also were diligently So it has worked diligently to enhance security cooperation combat terrorism Especially since it has strong relations with members of the international coalition headed by the United States of America How sudani continues he says after passing the amendment to the budget law, so they’ve already done something Some of this stuff is past tense.

It’s really fascinating It says we now look forward to complementing the procedures for exporting crude oil To the port of cyan and opening a new page with companies operating in the region Which will contribute to developing the Iraqi economy and providing justice to the citizens in the Kurdistan region Of course by ensuring that they receive their full rights Salaries and dues keep in mind. So ultimately Allah lock central bank They said again today We’re working on creating a digital currency for the central bank to gradually replace So Allah lock has you know, he had more than one article out today Of course, we already talked about that, but I just want to hammer this one home.

This is a different one It’s just really short says we’re working on creating the digital currency So it’s to the point for the central bank to gradually replace paper currency. So he’s he’s reiterating that in the same venue I’m assuming but it says the financial and banking system will witness fundamental transformations including the decline of paper currencies To be replaced by digital payments for central banks

The central bank is basically creating a digital currency of its own and it will gradually replace the paper So just hammering that home But look we just went over a brief stuff over all the powerful players in Iraq in the financial system Muhammad Sulei you have Tape Sammy’s out talking about borders. We’re talking about Allah lock and Al sudani and so those are the biggest players and I think that everybody should be paying attention to Obviously, there’s peripheral articles that come and go that are not quite consistent and you know what? We have to take in the good and throw out the bad and we think this is probably the most Important is because it’s who is it coming from? So we do that and we bring that into patreon.com forward slash mm and crew and then you guys can also find us in the militia man’s chat room in our free discord chat room, so come on in and see the value and Enjoy thanks for being with this if you like hit that like button because we did hit over 50,000.

We appreciate all the donations Thank you so much and appreciate it. Have a great weekend Once again guys, don’t forget to hit that like button If you like this content subscribe to the channel or join us at the militia man and crew patreon community for even more exclusive content You can also donate to this channel by hitting the links in the banner to help keep this page up and running Your generous support is greatly appreciated as always much much appreciated. Thank you so much You have a great day