CBI Confirms Stability, Digital Iraqi Dinar Progress & Bank Reopenings

The Central Bank of Iraq has issued new reassurances about the country’s ongoing banking reforms — and the news is major.link to My FX Buddies Blog CBI Governor Ali Mohsen Al-Alaq confirmed that the banks previously barred from accessing or dealing in dollars will return to normal operations once they complete the required reform stages.This comes as part of a large, internationally monitored restructuring plan designed to modernize Iraq’s banking sector, restore compliance, and build a system that aligns with global standards.If you'd like to Support the channel: ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠https://cash.app/$tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠... ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠https://paypal.me/tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠... ⁠ a FREE transcript at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://rss.com/podcasts/myfxbuddies⁠....Banks restricted from dealing in dollars will be readmittedOnly after completing mandatory reform stepsInternational bodies are monitoring complianceAll Iraqi banks have signed the official reform documentContract was signed after the U.S. restrictionsReforms ensure compliance with international money-laundering and audit standardsGoal: rebuild Iraq’s banking sector from the ground upCompliant banks will gain access to EUR, CNY, AED, TRY and othersGradual phased rolloutExpands Iraq’s global financial connectivityStill under constructionRequires technical infrastructureDesigned to reduce cash dependency, improve transparency, and modernize paymentsAl-Alaq was firm:There is no intention to reduce or change the exchange rate.Why? Because:Inflation is currently at low, stable levelsA rate change would harm low-income householdsIt would weaken confidence in the national currencyStability is a major success of current monetary policyAl-Alaq warned that Iraq cannot use the exchange rate to fix structural financial problems.Instead, Iraq must focus on:Increasing non-oil revenuesStrengthening the private sectorControlling expendituresDiversifying the economyAddressing long-standing financial inefficiencies🔥 Key Announcements From Al-Alaq:1️⃣ Banned Banks Will Return to Normal Operations2️⃣ Oliver Wyman (O&W) Is Leading Deep Banking Reform3️⃣ Banks Will Be Allowed to Deal in Other Currencies4️⃣ Digital Dinar Project Is in Progress5️⃣ Exchange Rate Stability Is a Core Priority6️⃣ Structural Reforms Still Needed✨ Reset Naturally — Grab the Holiday Helper Plan 🎁⁠https://buymeacoffee.com/tishwash/e/4...