Iraq’s currency stress is no longer a local issue — it’s unfolding alongside a powerful global signal. link to My FX Buddies Blog

On Monday, the Iraqi dinar weakened sharply, reaching 151,500 dinars per $100, as tightening electronic transfer procedures and escalating political pressure from Washington collided in the local market. Exchange officials warned that the rate could slide further toward 153,000 per $100 as demand for dollars continues to outpace supply.

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...⁠.According to Kaifi Mohammed, spokesperson for the Kurdistan Region’s currency exchange market, recent technical restrictions on the official transfer platform have created severe bottlenecks, preventing merchants from accessing dollars needed for international trade. This administrative strain is being amplified by a hardening U.S. stance toward Baghdad amid negotiations over the formation of Iraq’s next government.

Washington has intensified its demands regarding the exclusion of armed factions from state decision-making, introducing heightened uncertainty into Iraq’s financial system. Market participants say this uncertainty has forced merchants — many already carrying heavy debts — to buy dollars at any available price, pushing the exchange rate higher.

At the same time, a historic shift is taking place globally.

Gold surged past $5,100 per ounce, setting an all-time record as investors rushed toward safe-haven assets. Analysts attribute the surge to escalating geopolitical risks, aggressive central-bank gold purchases, and expectations of continued U.S. Federal Reserve rate cuts — all classic signals of deepening global instability.

Political analyst Abbas Jibouri warned that Iraq has reached a “dangerous crossroads,” noting that U.S. threats to restrict Iraq’s access to its oil revenues — held at the Federal Reserve Bank of New York — represent an extremely powerful economic pressure tool. With oil revenues accounting for more than 90% of state income, any disruption could trigger a severe salary shock and broader financial sanctions.

Reports suggest Washington may now be prepared to move from targeting individual banks or entities to applying pressure at the state level, using what observers describe as “dollar starvation” as leverage.

The message emerging from both markets is clear:
currency stability, political stability, and security stability are now inseparable.

📌 Why gold’s surge matters for Iraq
📌 How U.S. pressure affects the dinar
📌 What “dollar starvation” really means
📌 Who ultimately pays the price

🎧 Listen in as we connect the global signals with Iraq’s economic reality.

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A Return That Divides Iraq: Maliki Nominated for Prime Minister

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Iraq’s political scene has entered a decisive and highly sensitive phase.

The Coordination Framework has officially announced the nomination of Nouri Kamel al-Maliki for the position of Prime Minister, presenting him as the candidate of the largest parliamentary bloc following an expanded leadership meeting.

In its statement, the Framework said the decision was made by majority vote, citing al-Maliki’s political and administrative experience and his previous role in running the state. Al-Maliki, in turn, affirmed his commitment to the constitutional process and called on Parliament to move forward with electing the President of the Republic within constitutional timelines.

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Sunni political leaders warned against what they described as a return to “painful lean days,” urging the need for national acceptance and cautioning against repeating past experiences associated with political, security, and economic crises. These warnings reference al-Maliki’s previous term, which ended in 2014 amid severe instability and the collapse of security in large parts of the country.

While the State of Law Coalition insists the nomination enjoys national consensus and denies the existence of any political veto, opposition voices argue that broad social and political acceptance remains uncertain — a critical factor for any candidate seeking to form a government.

With Iraq already facing economic pressure, security challenges, and delayed institutional milestones, the question now is whether this nomination will stabilize the political process — or deepen existing divisions.

📌 Is Iraq witnessing continuity — or political recycling?
📌 Can national consensus be achieved at this stage?
📌 What does this mean for Iraq’s stability moving forward?

🎧 Listen in as we break down the nomination, the reactions, and what comes next for Iraq.

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A staggering figure has re-entered the conversation around

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Iraq’s financial management: more than $100 billion in savings held at the U.S. Federal Reserve.

Economic expert Duraid Al-Anzi says Iraq should never have faced a financial crisis given its oil revenues — arguing that repeated warnings to use conservative oil price assumptions in national budgets were ignored.

According to Al-Anzi, Iraqi authorities were advised not to base budgets on high oil prices and instead cap assumptions around $65 per barrel to allow surplus revenues to accumulate as savings. While oil prices fluctuated significantly, he says decision-makers failed to plan for the future — contributing to today’s financial strain.

If you'd like to Support the channel: ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://cash.app/$tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.... ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://paypal.me/tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.... ⁠Al-Anzi revealed that Iraq holds over $100 billion in reserves originally placed at the U.S. Federal Reserve and later transferred to JPMorgan, representing accumulated post-2003 oil revenues. He questioned whether Iraq has fully benefited from these funds, noting that the returns offered are minimal and that it remains unclear whether interest income has meaningfully reached the country.

The revelation raises deeper questions:
• Why weren’t these reserves leveraged during financial stress?
• Could better budget planning have prevented today’s pressure?
• And how should Iraq manage its savings going forward?

📌 Is this a missed opportunity — or a strategic reserve?
📌 Who truly benefits from idle savings abroad?
📌 What lessons does this hold for Iraq’s future budgets?

🎧 Listen in as we break down what this $100 billion figure really means for Iraq’s economy.

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A growing liquidity crisis in Iraq may be driven by something far more basic than policy — trust. link to My FX Buddies Blog

Economic expert Salam al-Zubaidi is warning that some state-owned banks are worsening the country’s cash hoarding problem by altering profit terms on deposits, reducing returns for citizens, and violating original agreements with depositors.

According to Al-Zubaidi, many depositors are reporting that profits paid by banks no longer match the conditions initially agreed upon. These unilateral changes, he says, reflect poor management decisions that undermine confidence in the public banking sector.

As trust erodes, citizens are responding by keeping their money outside the banking system — at home or in businesses — rather than depositing it in banks. The result is a sharp increase in cash hoarding, which now represents one of Iraq’s most serious financial challenges.

Al-Zubaidi estimates that nearly 87% of circulating cash — roughly 95 trillion dinars — remains outside formal banks, starving the system of liquidity and limiting banks’ ability to lend, finance projects, and support economic growth.

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Al-Zubaidi is calling for urgent corrective steps, including honoring existing deposit agreements, restoring transparency, and rebuilding public confidence — without which financial reforms and digital banking initiatives may struggle to succeed.

📌 Why trust matters more than incentives
📌 How hoarding hurts lending and growth
📌 What banks must do to bring cash back into the system

🎧 Listen in for the full breakdown and why this issue sits at the heart of Iraq’s financial reform challenge.

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Iraq’s banking reform isn’t happening overnight —

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but the groundwork is being built deliberately, strategically, and with global alignment in mind.

The Board of Directors of the Center for Banking Studies, under the supervision of the Central Bank of Iraq, recently reviewed progress on activating international partnerships aimed at strengthening Iraq’s banking sector and supporting long-term reform.

According to Mustafa Munir, Director General of the Center, the 2025 training plan was implemented using a modern strategic vision aligned with global standards — including Financial Action Task Force requirements, Basel III regulations, and International Financial Reporting Standards.

The plan achieved a 98% implementation rate, focusing on three key pillars:

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• Specialized short courses
• Advanced workshops for banking and financial professionals

As part of its international outreach, the Center expanded cooperation with leading regional and global institutions, including the Bahrain Institute of Banking and Finance, the Egyptian and Jordanian Institutes of Banking Studies, the Accounting and Auditing Organization for Islamic Financial Institutions, Frankfurt University, and global firms specializing in compliance, risk management, auditing, and information systems.

During 2025 alone, the Center delivered:
• 12 specialized programs leading to international certifications in AML/CFT, risk management, governance, and compliance
• 45 advanced workshops covering financial crimes, sanctions, digital transformation, and cybersecurity

These efforts reflect a broader push to strengthen governance, improve transparency, and prepare Iraqi banks for deeper integration into the international financial system.

📌 Is this how real reform is built — quietly and methodically?
📌 Can training and compliance shift global confidence?
📌 Is Iraq laying the groundwork for the next phase of financial integration?

🎧 Listen in for the full breakdown and why this matters more than headlines suggest.

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A single image has ignited widespread debate — and raised more questions than answers. link to My FX Buddies Blog

Iraq’s special envoy to the United States, Mark Savaya, shared a photo from his meeting with U.S. President Donald Trump that quickly went viral. The reason wasn’t the meeting itself — but a striking detail sitting in plain view on the table.

An Iraqi coin bearing the image of former President Saddam Hussein appeared prominently during the meeting, triggering intense speculation across social media and political circles.

If you'd like to Support the channel: ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://cash.app/$tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.... ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://paypal.me/tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.... ⁠Savaya offered no explanation for the coin’s presence, simply describing the day as “wonderful.” That silence has fueled debate over whether the image was intentional or accidental — and whether it carried symbolic meaning related to Iraq’s past, present, or future.

For many observers, the moment raised deeper questions:
• Was the coin a deliberate signal or an overlooked detail?
• Why introduce such a sensitive symbol in a high-level political setting?
• And what messages — if any — were being communicated about Iraq?

In a region where symbols often speak louder than statements, even a small object can carry outsized meaning.

📌 Coincidence or message?
📌 Optics or intention?
📌 What should Iraqis and observers read into this moment?

🎧 Listen in as we break down the image, the reactions, and what it may — or may not — signal for Iraq moving forward.

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Iraq’s economic picture is sending two very different signals.

⁠link to My FX Buddies Blog⁠

On one hand, the government is moving to anchor stability. On the other, analysts warn that unresolved pressures are being pushed into 2026.

According to Mazhar Mohammed Saleh, financial advisor to the Prime Minister, Iraq’s exchange rate policy is not arbitrary but the result of coordinated agreement between monetary and fiscal authorities — including the Central Bank of Iraq and the Ministry of Finance.

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Saleh confirmed that the proposed 1,300 dinars per dollar rate in the 2026 budget represents a stabilizing signal aimed at calming markets, reducing speculation in parallel markets, and ensuring predictability — especially since oil revenues account for roughly 90% of public income and are denominated in foreign currency.

The Central Bank, he noted, formally communicated this rate to the Ministry of Finance to be fixed within the budget framework, pending parliamentary approval.

However, a different warning is emerging from economic analysts.

Economic analyst Jalil Al-Lami argues that Iraq effectively postponed its economic crisis by operating without an independent 2025 budget, relying instead on spending ceilings from the multi-year budget covering 2023–2025. While this allowed salaries and basic expenses to continue, it limited investment, froze new projects, and avoided addressing deeper structural problems.

With global oil prices under pressure and revenues declining, Al-Lami warns that these financial stresses are now being deferred to 2026 — just as a new government takes office and faces delayed budget approval, political uncertainty, and continued reliance on the 1/12 spending rule under the Financial Management Law.

📌 Is the fixed exchange rate a stabilizer — or a holding pattern?📌 Can budget discipline offset delayed reforms?📌 Will 2026 become a year of resolution or reckoning?

🎧 Listen in as we connect the policy decisions, budget realities, and economic signals shaping Iraq’s financial path ahead.

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Washington is no longer just watching Iraq’s financial system — it’s preparing to act. link to My FX Buddies Blog

According to new statements by the U.S. President’s Special Envoy to Iraq, Mark Savaya, the United States is moving toward a comprehensive review of suspicious financial transactions in Iraq, with targeted sanctions expected against entities and networks accused of undermining financial integrity.

If you'd like to Support the channel: ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://cash.app/$tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.... ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://paypal.me/tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.... ⁠The shift marks a clear escalation: from monitoring individual violations to reconsidering the structure of Iraq’s banking and payments system as a whole. U.S. officials say the goal is to cut off channels used for money laundering, commercial fraud, sanctions evasion, and the financing of armed groups linked to Iran.

In coordination with the U.S. Treasury Department and the Office of Foreign Assets Control, Washington plans to conduct a deep review of financial records involving Iraqi banks, companies, and individuals suspected of illicit activity.

Analysts from institutions such as the Atlantic Council say the strategy reflects a broader U.S. effort to strengthen oversight, accountability, and transparency — while making it harder for illegal financial networks to operate if Iraqi authorities fully implement reforms.

Since late 2022, the U.S. approach has already shifted toward structural controls on dollar flows. The Federal Reserve Bank of New York, which holds Iraq’s oil revenue accounts, began rejecting a large share of Iraqi banks’ transfer requests due to insufficient documentation on final beneficiaries. That move led to sweeping sanctions in 2023 and continued pressure on banks suspected of corruption or money laundering.

Economists warn that new sanctions may now target individuals, traders, private companies, and capital owners — not just banks — as Washington seeks to dismantle entire financial networks rather than pursue isolated cases.

At the same time, Iraqi officials say new systems such as ASYCUDA World are being implemented to reduce fraud, improve trade transparency, and prevent currency smuggling.

📌 Is this a reset — or a financial showdown?
📌 Can reform keep pace with pressure?
📌 What does this mean for Iraq’s economic stability and currency confidence?

🎧 Listen in for the full breakdown and what may come next.

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A major shift is unfolding inside Iraq’s exchange markets.

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In Erbil, the price difference between the so-called “blue” and “white” U.S. dollars has dropped sharply — from nearly 4,000 dinars to just 900 — following a religious ruling prohibiting discrimination between dollar denominations.

According to statements made to Kurdistan 24, market representatives confirmed that the change occurred immediately after a fatwa was issued by the Supreme Council for Fatwas, declaring that charging extra amounts based on the color or condition of the dollar is forbidden.

Market spokesman Kifi Khoshnaw explained that citizens had long carried heavy financial burdens — especially in real estate, vehicle purchases, and commercial transactions — due to the inflated price gap. With the fatwa now in place, expectations are growing that the difference will disappear entirely in the coming days.

The ruling also reaffirmed that the U.S. dollar, regardless of denomination, is legally and religiously considered a single monetary unit of equal value, and that any added charge violates both ethical and Sharia principles.

Observers say this development could help ease pressure on citizens, improve transaction fairness, and support broader efforts to stabilize Iraq’s currency environment — especially as authorities are urged to address issues related to old or damaged banknotes.

📌 Can religious authority influence financial behavior?
📌 What does this mean for exchange-rate stability and public trust?
📌 Is this another signal of normalization in Iraq’s markets?

🎧 Listen in for the full breakdown and what this could mean going forward.

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Iraq is taking deliberate steps to strengthen its position in the global financial system. link to My FX Buddies Blog

In this important development, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, chaired a high-level meeting with global consulting firm Oliver Wyman to discuss concrete mechanisms for improving Iraq’s sovereign and credit ratings.

The meeting brought together the National Team for Improving the Credit Rating and the Technical Committee for Sovereign Rating, with the participation of Mazhar Mohammed Saleh, Prime Minister’s advisor, alongside experts from key ministries and the private sector.

Discussions focused on alignment with international rating agencies including S&P Global Ratings, Fitch Ratings, and Moody’s Investors Service, emphasizing the five core pillars used in sovereign rating methodologies:
• Institutional quality and financial strength
• Monetary stability
• Economic structure and growth prospects
• Political risk and governance
• Overall stability and reform credibility

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This initiative forms part of the Iraqi government’s broader strategy to enhance global confidence, improve international perception of the Iraqi economy, and support sustainable financial and economic stability following the formation of the National Credit Rating Improvement Team in September 2025.

📌 What does this mean for Iraq’s financial future?
📌 How do sovereign ratings affect borrowing costs, investment flows, and currency stability?
📌 Is Iraq positioning itself for the next phase of global integration?

🎧 Listen, reflect, and stay informed as Iraq works to strengthen its standing in global markets.

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