Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.
ABOUT THE NEWSLETTER:
August 14, 2025 Mnt Goat News Brief
Guten Tag everyone:
Today I am bringing you amazing news of the Project to Delete the Zeros and that it is now in site. on Pay attention. Are you listening to the intro audio for today’s Newsletter?
GIVE A GIFT TO MNT GOAT
I decided to allow everyone to give a Free-will GIFT to Mnt Goat on PayPal if you so desire. Here is the link below.
Since 2013, I have taken my own time from my gasthaus business to research and document findings about the revaluation and reinstatement of the Iraqi dinar. I did not ask for a penny from anyone., At this time more than ever I do not need to spend my time doing all this as it has become another part-time job for me. My time is hard to find, as I have to hold down two other formal jobs already due to COVID just to keep the business going. So, I do this Newsletter out of charity and LOVE for YOU. I already know this info and I do not have to pass it on to you. I do it mostly out of LOVE for my neighbor as the bible says, but let’s be real this is also hard work and the bible also says we should be paid fairly for the labor to which we work.
2 Thessalonians 3:10-12: For even when we were with you, we would give you this command: If anyone is not willing to work, let him not eat. For we hear that some among you walk in idleness, not busy at work, but busybodies. Now such persons we command and encourage in the Lord Jesus Christ to do their work quietly and to earn their own living.
I recommend $10-$15 dollars a month or whatever you can afford. I do not beg for money and never will. Do you realize I write eight (8) Newsletters every month. I have to investigate the news and try to pull out the FACTS, then pull off the articles from Iraqi news channels, translate them, talk to my contact in Iraq and then write and publish the Newsletter. Do you think perhaps a little gift might show some appreciation for all this hard work? Just asking…. Still only a hand full of readers help out each month. Enough said….. The future of the Newsletter depends upon you. This is like a third job for me and like you, I deserve to get some gratitude for all the hard work that I do. You do want the TRUTH, don’t you?
Let’s all try to chip in!
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2 Corinthians 9:9
“He scattered abroad, he gave to the poor, His righteousness endures forever.”
STATUS OF THE RV
Today I am bringing you amazing news of the Project to Delete the Zeros and that it is now in site. on Pay attention. Are you listening to the intro audio for today’s Newsletter? I think everyone should listen to it at least twice. It is chock-full of critical information.
I first want to say today that I am glad many of the faithful followers of my blog decided to hang-in to follow this RV saga to the end. I know it is hard to swallow sobering news but I have said many times it is never as bad as you may think. Things can change suddenly and usually do. Our entire following of this RV is geared around the efforts of the CBI is making towards the overall plan to get to the reinstatement. As I have said in the past there is a plan, but it has been an uphill battle however under the direction of Ali al-Alaq, the CBI is following the basic steps to get there. I know there is lots of noise in between each step but we are moving ahead aggressively since January 2023.
Today’s news is amazing and I am jumping up and down when I learned of it. You should be too. If I were you. I would not go off half cocked yet. Let this work by these financial experts such as company Oliver Wyman in Iraq help the CBI. At times like this we must also get on our knees and pray daily for the Iraqi people and the wealth and prosperity this will bring them. Remember that this is NOT about us investors and what we will ultimately get, but is a by-product of all the hard work of the CBI, its strategic moves and the by-in to the plan by the GOI under Al-Sudani.
Here is what we know:
1.They just told us the parallel market is now under control. WOW! WOW! WOW!
2.They told us in the past when this occurs, they can then move towards the Project to Delete the Zeros, the next phase in the currency reform process
3.In today’s news we find significant evidence that Iraq is now in a situation that they could and are now moving aggressively towards implementing the redenomination from the three zero notes to the newer lower denominations (the Project To Delete the Zeros). (their words not mine….). They need to get these large hoards of cash (80% of the currency) inside the banking system.
4.My CBI contact confirmed to me yesterday in my call to Iraq that the content of the recent article titled “BREAKING: IRAQ’S CENTRAL BANK LAUNCHES DIGITAL SECURITY PLATFORM FOR CASH OPERATIONS!” is a key component of this project. She also said they need to do the project very soon to get all this hoarded cash into the banking system, which is needed for the Development Road Project effort and other loans. She also told me that she is back on the committee to roll out the next step of the project maybe sometime in September/October. She sounded confident of what she told me. I asked about the August 31st deadline in the today’s article for these smaller private banks to adhere to the banking recent reform requirements, set by the CBI (I showed you the article). She told me that this was not a hard deadline placed by the company Oliver Wyman which was hired and tasked with guiding Iraqi banks to align with stringent international standards. I had to ask what would happen to these banks after the deadline, if not fully complied by then? She told me if they could meet the requirements by the end of the year they could be waived if they could show proof and effort. Then others would be go into insolvency and bankruptcy. There are only ten banks in this situation. So, this was the content of our discussion on Wednesday call from Iraq. Remember by your appreciation you help provide for these calls to Iraq and the information I obtain. I can not do it without you.
Now I want to review what this all means to us and our investment. Folks, it appears once again that the CBI is moving towards an end-of-the-year reinstatement (maybe January 2026) allowing time between August 31st and December 31st to conduct the Project to Delete the Zeros. Remember this was the same timeline of Dr Shabibi in 2012-2013 when he was attempting to do it. Just saying….. 😊 Can the RV happen earlier? Sure it can and no one knows the date.
Remember for these next three to four months, the Iraqi citizens will need time to exchange their three zero notes for the new lower notes. The CBI and IMF will also need time to watch for inflation and reactions on the economy to this move. They told us two or three weeks or maybe three months even. We just have to wait and watch.
We know these notes are printed already as well as coins, as we read article in the past telling us they were. The CBI still has to once again educate the public on the process. I was told by my CBI contact to expect this in the news soon. Also remember that in order to redenominate, unlike what Iran just did, the Iraqi redenomination will need a significant change in the rate to be successful. This is not a redenomination due to hyperinflation, such as in Iran ryal to readjust it, but rather to begin the process of the alignment of the Iraqi dinar with its true nominal value.
Think about this – Who the hell is going to turn in their three zeros notes if the dinar is not worth more than the dollar? They know what is coming and they are waiting for it just like us. If you recall over the years, the CBI has tried every trick in the book to get these dinar hoards in the banks, unsuccessfully. This new rate will be the second of the two rate changes we were promised by the CBI years ago…. finally! The CBI told us it must be just over a dollar. Remember folks this will be in Iraq in country ONLY! We can not yet go the banks when this happens. It will not yet be international. This is why when this does happen we must watch the dinar VERY closely since it could then pop out on FOREX at about anytime afterwards. Then we go to the bank….lol…lol… 😊. After this in country revaluation, the CBI can not let the dinar sit there for too long without migrating to the out of country global currency exchanges. To wait would also be disastrous too. So, as investors if you want a timing, they watch the process.
😊 So, what is the tie in to the RV process with the today’s news in the article titled “KARMAL PARTNERS WITH ZAGTRADER FOR ELECTRONIC TRADING IN IRAQ”. This recent announcement is also VERY significant in that and I quote “Karmal Brokerage has secured approval from the Iraq Stock Exchange (ISX) to launch a comprehensive digital transformation project in preparation for operations on the “Tabadul” electronic trading platform.” This trading platform will be needed since financial trades will be pivotal once the dinar is reinstated on the trading platforms. The Central Bank is also planning to sell shares of the Central bank as a financial entity just as global corporate entities sell shares in their businesses to raise funds for various projects. The ISX will also of course be involved in trading the Iraqi dinar to investors as part of the array of global currency trading platforms.
Many of you may ask me but what about my past Newsletter dated 8/12 and the five (5) events that I listed that had to be completed? First of all I NEVER commit to any list of events to get the RV. I did list what I have been told or read in the articles to help us understand some sort of timing. That is all I did. So what was this list from my 8/12 Newsletter?
1.It’s time to clean up this array of private banks in Iraq.
2.The expulsion of the PMF from Iraq.
3.The constitutional requirement for a referendum to govern the oil and gas from Iraq.
4.Parity in the parallel market vs the official CBI rate.
5.Collect the 80% of the currency outside the banking sector
Well… go back and look at the list again in my past Newsletter in the Archives. All but two of the five parts are what we are now closely aligned and connected with the news of today. This is what is so amazing and WOW! So, Mnt Goat was spot on once again…… lol..lol.. How does she know all this? How do I know all this? This talent comes from my training as an intelligence officer in the US Army. I learn to access bits of data, then build scenarios of possible strike locations from the enemy and the timing of them. I then briefed the command on these situations. I also need to admit that with a decade of reading articles, conversations with my CBI contact and writing this Newsletter, all helps me to absorb all this information and connect it all together. I base my findings only on FACTS that I know not some idiot secret source, bank memos or other baloney,
But remember these tasks are not yet all completed fully and are ongoing. Please do not put a hard wall up to these events. Just relax and let them all play out. They will soon align with the timetable set. Then there are two other events that I am told must also be accomplished. The #2 is critical and will delay the CBI process if the GOI does not work to accomplish this task.
#2.The expulsion of the PMF from Iraq.
#3.The constitutional requirement for a referendum to govern the oil and gas from Iraq.
We can see that there will absolutely be no RV of any kind, if it is up to the U.S., unless the PMF is expelled from Iraq or neutralized in some way. The US state department will need assurances of this. Iran will not be running Iraq and Iraq as a puppet state of Iran after the reinstatement. This you can bet on!
😊Another item is the much-needed Oil and Gas law. In today’s news in the article titled “ERBIL, BAGHDAD SIGN OIL EXPORT MECHANISM AGREEMENT”. In a major breakthrough, the Kurdistan Regional Government’s (KRG) Ministry of Natural Resources and the Iraqi Ministry of Oil have finalized and signed a comprehensive agreement on the mechanism to resume oil exports from the Kurdistan Region, paving the way to end a costly suspension that has been in place since March 2023. So, although they may not have the new Oil and Gas Law fully in parliament yet, we learned that they are getting very close to resolving past issues and use these crises to build the new law, as the years passed.
I have told you many times that there are elements in Iraq that do not want the reinstatement to happen. The reinstatement will totally shut down their funneling of money to Iran, once done. Now we can see why the CBI is working so hard to put mechanisms in place to prevent such money laundering. I have also talked many times about the IQD getting re-pegged off the sole peg to the dollar. There is going to be a “basket” of currencies. With this basket the IMF will be able to “shore up” other currencies by spreading the risks among members of the basket. The IQD will be a major player in this basket and remember the IQD will also be one of the currencies benefiting from the risk sharing too.
We must understand that there is so much going on behind the scenes that you are not privy too. You may read today’s news and the tendency is to isolate the news to only Iraq but I have to tell you it is not. As we see this corrupt politicians and government officials in the U.S. moving closer and closer to indictments and convictions, then we see the parallel of the Iraqi dinar reinstatement process also progressing forwards at the same time, coincidence? I keep trying to teach everyone that there is a “reset” going on that is a good reset for all, not the satanic reset of the globalist. This is God’s version of the reset that includes an entire remake of the financial systems of many countries, but it will have to start in the U.S. It is happening now. Everyone should be excited.
Remember the headlines we have been reading in these past months. They have been all mostly about the dinar and the economy:
“US NETWORK REVEALS TRUMP’S STRATEGY IN IRAQ – URGENT.”
“BREAKING: IRAQ’S CENTRAL BANK LAUNCHES DIGITAL SECURITY PLATFORM FOR CASH OPERATIONS!”
“2024 ARTICLE IV CONSULTATION—PRESS RELEASE; STAFF REPORT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR IRAQ .”
“IMF Pushes Reform of Iraq’s Banking System”
“FROM TEHRAN TO BAGHDAD… WILL “REMOVING ZEROS” BECOME A POLICY TO CONCEAL STRUCTURAL DEFICITS?”
“COORDINATION FRAMEWORK HARDLINERS INSIST ON THE POPULAR MOBILIZATION LAW AND REJECT WASHINGTON’S PRESSURE.”
“IRAQ IS POISED TO STRENGTHEN ITS POSITION AS A KEY TRADE HUB IN THE MIDDLE EAST”
“IRAQI DINAR NEARS OFFICIAL RATE AS MARKET STABILIZES.”
“THE DOLLAR APPROACHES THE OFFICIAL RATE: A REAL REFORM OR A TEMPORARY TRICK?”
“GOVERNMENT ADVISOR: THE IRAQI DINAR IS STABLE, BUT THE PARALLEL MARKET IS WITNESSING A SIGNIFICANT DECLINE IN THE VALUE OF THE DOLLAR.”
“THE INTERNATIONAL MONETARY FUND (IMF) HAS ISSUED A BRIEF EXPLAINER ON IRAQ’S EXCHANGE RATE ARRANGEMENT.”
“EXPERTS: THE NATIONAL PAYMENT CARD ENHANCES MONETARY SOVEREIGNTY..”
“AL-SUDANI’S ADVISOR REVEALS THE MOST IMPORTANT PILLARS OF REVIVING IRAQ’S “TREASURE.“
“FINANCIAL SOVEREIGNTY”: WHY HAS IRAQ NOT EMANCIPATED FINANCIALLY FROM THE GRIP OF THE US FEDERAL RESERVE?”
“TRUMP PUTS IRAQ AT A CROSSROADS: JOIN THE WEST OR FACE SANCTIONS”
“US TARIFFS OPEN THE DOOR TO PARTNERSHIP: IRAQ CALLS FOR ACTIVATING THE ECONOMIC AGREEMENT WITH WASHINGTON.”
“EXPERT WARNS: IRAQ’S FINANCES ARE UNDER “AMERICAN PRESSURE”… AND THE GUARDIANSHIP ENDED IN 2022.”
“IRAQ IS DEVELOPING PLANS TO DEVELOP ITS TRADE POLICY LOCALLY AND GLOBALLY.”
“AL-SUDANI: “MADE IN IRAQ” IS A NATIONAL PROJECT WE ARE COUNTING ON.”
“THE DOLLAR’S DECLINE IS IN THE INTEREST OF CITIZENS AND STRENGTHENS THE PURCHASING POWER OF THE DINAR.”
“STARTING FROM THIS DATE, THERE WILL BE NO CASH PAYMENTS IN IRAQI GOVERNMENT INSTITUTIONS.”
“THE DOLLAR’S EXCHANGE RATE IS STABILIZING TOWARDS ITS TARGET: ADAPTATION OR ADJUSTMENT?”
“THE DOLLAR’S DECLINE IS IN THE INTEREST OF CITIZENS AND STRENGTHENS THE PURCHASING POWER OF THE DINAR.”
“UN: IRAQ WILL BECOME A BANKING POWERHOUSE BOTH DOMESTICALLY AND INTERNATIONALLY”
“ADVISOR TO THE PRIME MINISTER: THE VALUE OF IRAQ’S NATURAL RESOURCES EXCEEDS $16 TRILLION”.
“SWIFT AND THE US FEDERAL RESERVE PUT IRAQ AT THE MERCY OF THE GLOBAL ECONOMY”
“AL-NUSAIRI CONFIRMS THAT THE CENTRAL BANK’S APPROACH TO BANKING REFORM AND DEVELOPMENT CONTRIBUTES TO ACCELERATING IRAQ’S ACCESSION TO THE WORLD TRADE ORGANIZATION.”
“IRAQ CONFRONTS ECONOMIC CRISES WITH THE “DIGITAL DINAR.” THE PARALLEL MARKET IS THREATENED WITH “EXTINCTION.”
“CBI CONFIRMS COMMITMENT TO COMBATING MONEY LAUNDERING IRAQ.”
“RAMADAN REVIVES THE IRAQI DINAR AND OFFICIAL EXPECTATIONS OF A CONTINUED DECLINE IN THE DOLLAR”
“CENTRAL BANK GOVERNOR: OPENING EXTERNAL CHANNELS WITH FOREIGN CURRENCIES ELIMINATES THE BLACK MARKET”.
“A BURNING ECONOMIC DEBATE.. IS RAISING THE EXCHANGE RATE THE MAGIC SOLUTION FOR THE IRAQI ECONOMY?”
“THE PURPOSE OF DELETING THREE ZEROS FROM THE CURRENCY OF IRAQ IS TO LIFT THE ECONOMY AND PROSPERITY TO RAISE SUPPORT FOR THE DINAR, WHICH WILL BE A KEY REASON FOR THE RETURN OF IRAQ’S ECONOMY AGAIN IN JANUARY 2017.”
“GOODBYE DOLLAR AUCTION.. CENTRAL BANK ANNOUNCES THE END OF 20 YEARS OF BILLIONS AND SUSPICIONS”
“WITH THE BEGINNING OF THE NEW YEAR, THE US DOLLAR ENTERS A NEW PHASE IN IRAQ”
“BANKING REFORM METHODOLOGY AT THE CENTRAL BANK (2016-2026)”
Let’s not forget the past news! Sometimes it is good to take a step back and look how far we have come with this RV saga. It’s all coming together nicely. Be patient. Our job now is to PRAY, PRAY and PRAY that is what God expects. Just how badly do you want this investment?
One thing God does keep telling us is that – what was stolen from us will be returned 7 X.
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Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just the FACTS!
PRAYING WITH SINCERITY
Many may ask why their prayers are not being answered. Our new Shepard in Rome Pope Leo XIV has given us some direction.
You can purchase a nice pair of Rosary Beads here to pray:
These prophecies are more important now more than ever. They give us the strength, perseverance and hope that a better time is coming and that God’s Hand is at work behind the scenes. If you just take a second even to look around you at these past three election cycles, how can you deny that God is at work? Are you sleeping or what?
It is amazing and there is no other way that these events could have happened the way they turned out. But there is more to come, much, much more, I assure you! Now that God has his biblical David re-elected, we need to pay attention to what He does next.
God told us it will be an “hypnotic November” and turbulent until June 2025 and so, isn’t it? June has been amazing too as promised. Was He lying to us? Here comes the indictments.
NOTE: These prophecies just keep getting better and better, giving us HOPE of a bright future. But the real reason why I listen to them is that we can actually see what God says He will do is taking place right in front of our noses. It is a confirmation to me that God is real and is still with us forever just as in biblical times.
From God to the PROPHET: Julie Green
The prophetic words seem to be getting more powerful which usually means we are coming to a climatic period and intensity as to when events begin to happen.
Prophetic Words from prophet Julie Green:
““THE FDA WILL BE EXPOSED ON HOW THEY HAVE BEEN ALLOWED TO POISON YOU“
You can go to mark 19:45 on the video to start prophecy. From Aug 9th.
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“A SMOKING GUN IS COMING THAT WILL COLLAPSE THE IRS“
You can go to mark 19:22 on the video to start prophecy. Second one from Aug 8th. This prophecy is one of many given about the IRS. There should be no doubt in your mind that the IRS is going to be dissolved very soon along with the Federal Reserve (part of the Central Banking cartel). There is in the making now a new financial structure being implemented. We all need to just give it time to play out.
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All I can is “God told you so”!
AS DIRTY AS THEY COME!
LEAVITT ADDRESSES ADAM shifty-SCHIFF WHISTLEBLOWER REVELATIONS
THE SCHIFF IS ‘HITTING THE FAN’
JEANINE PIRRO HIGHLIGHTS ‘SILENT VICTIMS’ KILLED IN DC
SOROS FINALLY IN THE CROSSHAIRS OF AN OFFICIAL INVESTIGATION
Incidentally, God did tell us through His prophets, that Soros is going to be exposed and lose his fortune and influence from politics. We are just seeing Pandora’s box being opened on this prophecy now. Yes, this is the beginning of the end of Soros. Pay attention this all matters when it comes to Iraq. This is all tied together.
EPA TO REVERSE UNSCIENTIFIC JUSTIFICATIONS FOR CLIMATE CHANGE
Oh… is this climate change BS finally being challenged with common sense and legal grounds? We must understand it was just yet another communist narrative to drain money foolishly, create slush funds and cause yet another crisis. Yes, more FEAR. They trive on crisis after crisis.
IS VOTER FRAUD STILL ONGOING?
THINK, THINK and THINK SOME MORE! Why did the democrats win so many seats in Congress and the Senate in spite of Trump winning the national popular vote and the electoral college vote?
For the executive branch the election was a “landslide”. So then why are the margins on the congressional and senatorial side of the house still so slim? The republicans in the last many elections just can’t see to gain any kind of real margin of victory in certain key states, in spite of winning the presidency. Does this sound weird to you? Sounds to me there is still massive voter fraud going on in many of these states. Let’s take a deeper dive into this today because this does impact what is going on in Iraq and it is important to our investment in the dinar.
When you go to vote, most vote a straight party ticket. Sorry if you don’t but data shows the majority of people do vote this way. So, if this is the case you can then see the fraud as votes were switched from republican tickets to democrats for the congress and senate positions that were open in 2024. It is obvious something is not right.
Now if you watch this broadcast you will see a map of Illinois, like the one above. Could this districting be the reason why? The voter fraud is obvious. But let’s take these thoughts a step further and go to the state of Massachusetts. Not a single seat today is held by a republican in the house today. Does this seem weird to you because if it does it reeks of voter fraud.
God, through His prophets, tell us that there was massive voter fraud and he is going to correct it. Let’s watch how this all plays out. The important part is that there will be a coming fairness in the voting in the U.S. Also we must PRAY and give thanks to God for how he helped bring back TRUTH and HONESTY to politics in the U.S.
INVESTIGATION CONFIRMS HORRIFYING ELECTION SCANDAL — DEMOCRATS ‘STOLE HOUSE SEATS’
NOW WE LEARN WHY TEXAS DEMOCRATS FLED TO ILLINOIS
Of course, it was to hide from the Texas legislature so as to block the voting process on redistricting of their state. The legislature needs a quorum to even take the vote. But why did they flee to Illinois of all states? Today we get some insight into why Illinois.
Maybe, or most likely, you don’t live in Illinois or Texas and so who cares about all this? As responsible citizens of a constitutional republic we all should care and the carelessness of the citizens of this republic in the past has gotten us into this mess. But then is then and now is now. Now its time to fix this mess.
BIDEN HIT WITH STUNNING DEVELOPMENT — HIS PRESIDENCY COULD BE ERASED. Really?
Many of you folks reading this will turn up your nose and tell Mnt Goat this will never happen. Really? Folks, as I have said to you many times this is not normal times we are living in. There was a coup to take over the country and it was led by the new Marxist party of democrats. Aren’t you even paying attention?
THE CASE OF THE JACK SMITH: ACTIONS AGAINST TRUMP ARE NOT GOING AWAY.
— federal judge orders release of all documents related to cases against Trump. Stay tuned you are going to hear much more about this in the coming months.
WHAT DEMOCRATS SO FAR ENDORSE HAVING A MARXIST SOCIAL COMMUNISTS MAYOR FOR NYC
Folks, we should not even be having this conversation. A communist candidate being endorsed by members of a major political party? Really? This shows us just how far left the left has gone. Whether you are a liberal, conservative or any other political thinker you need to remember these names and remember them well, when you go to vote at their time for re-election. They all have to go along with their buddy Mamdani. Throw these bastards out. The question now lies will Americans in NYC be stupid enough to vote for Mamdani. Oh…maybe they have BIG plans to rig the election anyhow?
THE CLEAN UP OF THE DISTRICT OF COLUMBIA, WASHINGTON DC HAS BEGUN
A Deep Dive Into Epstein – Dr. Jan Halper-Hayes
BONDI BOMBSHELL — OBAMA’S NAME IS ON THE “TOP” OF THE LIST FOR RUSSIAGATE
Forwarded to the Grand Jury for review this week.
TRUMP ISSUES FIERY RESPONSE TO TEXAS DEMS: ‘DO YOU NOTICE THIS’
STATE LAUNCHES INVESTIGATION INTO WHO IS FUNDING TEXAS DEMOCRATS’ WALKOUT
THE REAL RUSSIA COLLUSION STORY WITH JOHN SOLOMON: LAID OUT IN SIMPLE TERMS.
TRUMP JUST UNCOVERED A MUCH BIGGER SCANDAL THAN RUSSIAGATE
As if that could be possible….
IMF PUSHES REFORM OF IRAQ’S BANKING SYSTEM
14th July 2025
A new report from the International Monetary Fund (IMF) has said that the restructuring of state-owned banks (SOBs) can foster the development of the private sector and improve growth. It adds:
“Strengthening the financial sector can support private sector credit, fostering investment and growth.
“To this end, the authorities are finalizing a reform strategy entailing a restructuring of the two largest SOBs. The improvement of the function of credit markets also requires the release the draft by-laws concerning SOB corporate governance, and establishing robust supervision, regulation, and governance under the CBI.
“Other measures include creating an Ownership Policy to clearly define the objectives and goals of government ownership in financial institutions and accelerating the implementation of modern Core Banking System solutions.”
I am sorry this information is just too lengthy to download and paste in the Newsletter. You can go to this site and find the entire report.
Click here to download the full report.
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A COMPREHENSIVE REFORM PROJECT FOR THE PRIVATE BANKING SECTOR
April 07, 2025
Baghdad, Iraq, April 7, 2025 – With the full support of the government and in cooperation with Oliver Wyman consulting company, the Central Bank of Iraq (CBI) today unveiled reform plans aimed at modernizing the Iraqi private banking sector and building a robust, modern, and flexible banking sector that drives economic growth, the enhances financial inclusion, in addition to generates attractive and sustainable returns for shareholders.
This plan is the result of joint efforts of the CBI, the government, and the private banking sector, in cooperation with Oliver Wyman. Its success depends on the active participation and cooperation of all concerned parties. The CBI and the government will lead projects aimed at modernizing the sector and meeting the evolving needs of a rapidly growing economy. These projects focus on three objectives:
First: Strengthening and deepening widely the financial inclusion in Iraq.
Second: Raising the efficiency and productivity of the private banking sector.
Third: Creating a fair and healthy competitive environment in the market while improving the sector’s flexibility and ability to withstand risks.
This project will contribute to enhancing the protection of depositors and creditors, along with financial education campaigns to restore confidence in dealing with banks. Financial inclusion will also be expanded through the establishment and effective implementation of legal and regulatory frameworks. For the purpose of enhancing the access to services, payment systems will be modernized to facilitate efficient and reliable transactions for both businesses and individuals, in addition to financial infrastructure will also be expanded, including an increased network of branches and ATMs. As well as compliance procedures of anti-money laundering and countering the financing of terrorism (AML/CFT) will also be simplified and assessed through a digital identity system.
Key pillars of banking standards reform:
A prerequisite for the success of the plans is demanding all banks comply with a set of standards and to actively participate in the sector’s transformation process. Banks must move toward business models that represent an additional value to the Iraqi economy, while providing superior customer service, ensuring its financial stability, and combating fraud and financial crime.
The key banking standards to be implemented are divided into four main categories:
1. Ownership Structure and Governance:
Setting maximum ownership limits to prevent excessive control (concentration) by any single entity or related parties.
Ensuring competent and independent boards of directors, with suitability tests for all key leadership positions.
Conducting intensified due diligence on all major shareholders.
2. Business Model Sustainability:
Requiring banks to adopt sustainable and practical business models by submitting consistent detailed business plans, strategic plans, financial projections, organizational structure, technology implementation plans, and operational management.
Ensuring that key services and products are aligned with market needs to support the Iraqi economy and citizens.
3. Financial Metrics:
Maintaining the capital adequacy and liquidity ratios in line with international best practices to ensure banks’ resilience in the face of financial crises.
4. Risk and Regulatory Compliance:
Keeping pace with global best practices in compliance, including comprehensive measures to combat money laundering and terrorist financing, to ensure the sector is protected from financial crimes.
Enhancing transparency in reporting and audits by accredited auditors to reduce conflicts of interest, including related party transactions.
The Reform Process:
The reform process will be a multi-stage journey. During this process, private banks will be assessed for compliance with the required standards at various stages of the reform process. The first assessment cycle is expected to begin in the first quarter of 2026.
Next Steps:
Over the coming months, CBI will share detailed criteria and timelines with the private banking sector through official circulars for implementing the reform process. It will also work to activate support channels and hold technical assistance workshops to ensure readiness before the assessment process begins. All licensed private banks will be asked to formally confirm their participation in the reform process. CBI is fully committed to achieving this transformation by working closely with all relevant stakeholders to pave the way for a strong and inclusive financial system.
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U.S. SANCTIONS LOOM OVER IRAQ IF PMF LAW PASSED, AL-ALUSI CAUTIONS
Iraqi politician Mithal al-Alusi warns of ‘catastrophe’ and severe U.S. sanctions if a law for the PMF (Hashd al-Shaabi) is passed, alleging a senior Iranian official visited Baghdad to push the legislation and that the groups are a tool for Iran.
An Iraqi politician has issued a stark warning that Iraq faces “catastrophe” and severe U.S. sanctions if it approves a controversial draft law for the Popular Mobilization Forces (PMF or locally known as Hashd al-Shaabi), alleging that a senior Iranian official recently visited Baghdad specifically to pressure political parties into passing the legislation. Mithal al-Alusi, the founder of the Iraqi ‘Ummah’ Party, stated that the main purpose of a visit by Ali Larijani, advisor to Iran’s Supreme Leader, was to ensure the law’s passage, which he claims would cement the influence of groups loyal to Tehran and drag Iraq into regional conflict.
In a detailed statement during his participation in the Kurdistan24 news bulletin on Monday, Al-Alusi addressed Larijani’s visit, the implications of the PMF law, and the threat of American retribution.
While Iranian media reported that Larijani arrived in Baghdad to sign a security agreement and discuss regional developments, Al-Alusi asserted that the visit’s primary objective is to pressure Iraqi political factions regarding the draft law.
He contended that the visit reveals that the party from which the PMF takes its orders “is not Iraqi,” drawing a parallel with how the Lebanese Hezbollah does not take orders from the Lebanese government.
The politician drew a sharp distinction between what he termed Iraqi and non-Iraqi religious authorities, or Marja’iyyahs. “The Marja’iyyah of Sistani, the Marja’iyyah of Najaf, and the Marja’iyyah of Sadr, these are Iraqi Marja’iyyahs and they reject the Hashd al-Shaabi draft law,” Al-Alusi indicated.
He added, “Hashd al-Shaabi and its groups are followers of the Marja’iyyah of ‘Wilayat al-Faqih,’* which is not an Iraqi Marja’iyyah, and this is proof that they take orders from outside the country.”
While stressing a desire for good relations with Iran, Al-Alusi stated, “we do not want Iraq to become a tool and a battlefield for Iran’s failed wars,” and called for the Iraqi government to clarify the nature of any new security agreement with Tehran.
According to Al-Alusi, passing a law for the PMF is an attempt to secure a massive budget for these groups, estimated between two to three billion dollars, which he noted is several times more than the budget of the Kurdistan Region.
He warned that this “huge budget” goes to “unknown sources.” He further cautioned that in the context of the recent 12-day war between Israel and Iran, there is an effort to “ignite the region militarily and create war,” describing it as a “kind of madness” that Iraq does not need.
The most severe warning from Al-Alusi concerned the potential for U.S. sanctions.
He expressed fear that sanctions would be placed on the state itself, forcing the Iraqi citizen to pay the price while politicians with billions stored abroad would remain insulated. “I believe Iraq cannot withstand the severity of the American sanctions and a catastrophe will occur,” he stated.
Al-Alusi believes that America desires a stable Middle East and that if “this game continues, perhaps all of Iraq will be dragged into a war that we do not need,” noting that Israel’s problem is with Iran and its proxies.
Al-Alusi also leveled serious accusations against the armed factions, stating that since their establishment in 2014, they have not recognized the law and were responsible for a “political coup” after the elections.
“These groups, in the areas where they have authority, produce narcotics, traffic in them, and violate the law,” he indicated. He stressed that these militias are “above the law and the armed forces,” rendering the title of “Commander-in-Chief of the Armed Forces” a theoretical phrase without real value.
Al-Alusi concluded that these groups function as “Iran’s long arm in Iraq,” akin to Hezbollah in Lebanon, serving as Tehran’s strategic wing in an effort to militarize the region.
*: The Guardianship of the Islamic Jurist (Wilayat al-Faqih) is a Shiite doctrine granting a qualified Islamic jurist authority over political and religious affairs in the absence of the Imam, forming the basis of Iran’s system under the Supreme Leader.
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The Central Bank of Iraq discusses the banking reform plan with Oliver Wyman.
On Tuesday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, discussed with the international company Oliver Wyman the details of the banking reform plan submitted by the Iraqi Private Banks Association, as part of efforts to develop the banking sector and align it with international standards.
The Central Bank stated in a statement received by Shafaq News Agency that Al-Alaq and the relevant team held a meeting with Oliver Wyman to discuss what was stated in the letter of the Iraqi Private Banks Association regarding the banking reform plan.
Al-Alaq confirmed in the statement that the Central Bank had completed an extensive discussion, during which attendees expressed an understanding of the points contained in the letter and ways to flexibly adapt some of the plan’s provisions to facilitate implementation. The company has begun studying available avenues to present the best proposals and ideas in this regard as soon as possible.
The statement continued, “This is confirmed by what the bank announced during the months-long plan preparation period, which stated that the goal of the plan is to achieve a real project to build and stabilize the banking sector to operate safely and effectively in accordance with international practices and standards and local laws, in order to enhance governance, compliance, and risk management, to transition banks to an economic role that enhances the development process and provides services with the highest levels of efficiency and effectiveness, using the best practices and modern technologies.”
The bank emphasized that the plan would “enhance local and international confidence in the Iraqi banking sector, particularly since implementing the plan and adhering to its provisions will lead to the restoration of relationships between all banks that meet the plan’s requirements and internationally accredited correspondent banks, particularly those that do not currently have international banking relationships.”
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The Iraqi government denies any intention to devalue the dinar against the dollar.
The Iraqi Prime Minister’s economic advisor, Mazhar Mohammed Salih, denied the government’s intention to adjust the exchange rate by devaluing the Iraqi dinar against the US dollar to provide liquidity.
“Iraq’s exchange rate policy is a contractual one between the Ministry of Finance and the Central Bank of Iraq,” Saleh said in an interview with Al-Eqtisad News. “This is because the reserves supporting the Iraqi dinar reinforce the external value of the currency, meaning that the dinar, backed by foreign currency, comes from oil revenues.”
He explained that “this is called foreign exchange covered by foreign currency,” noting that “the last thing the Iraqi government is thinking about is changing the exchange rate, because the policy of changing the exchange rate every so often is bad policy, so it is preferable for the exchange rate to remain officially stable in this manner.”
Mazhar Mohammed Saleh believes that “oil is a global commodity that is not affected by the dinar’s devaluation, increase, or otherwise. At the same time, this constitutes inflationary financing through deceiving people, and this is not true.” He considered the policy of devaluing the dinar to be “dangerous and not easy, while the state is constantly working to raise and improve the dinar’s value, not to devalue it.”
He stressed that “the right thing to do is to keep the exchange rate as low as possible, unless the economy is exposed to major emergencies, which I don’t expect to happen, as long as the economy is oil-based and generates foreign currency flows.” He believed that “there are no such plans, neither now nor after the elections, and no one is thinking about this matter in light of the current circumstances and the constants and variables of the current situation.”
He continued, “There is no economic policy that tends to fluctuate between depreciation and appreciation of the exchange rate.”
He stated that “the exchange rate and the Iraqi dinar have been stable for very long periods, so manipulating the exchange rate is a bad and incorrect policy. The correct policy is to maintain the status quo and thus maintain overall stability so that development, investments, and plans can be sustained.”
Mazhar Mohammed Saleh also stated that “the worst type of financing is inflationary financing resulting from the devaluation of the Iraqi dinar, as economic literature suggests, which means deducting from citizens’ income by reducing real income to a valueless cash income.”
Regarding the easiest ways to address the liquidity shortage, Mazhar Mohammed Saleh explained that “the financial system should be improved by improving revenues.”
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THE GOVERNOR OF THE CENTRAL BANK OF IRAQ MEETS WITH THE INTERNATIONAL FINANCE CORPORATION’S REPRESENTATIVE IN IRAQ.
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, met with Mr. Bilal Al-Saghir, the Resident Representative of the International Finance Corporation (IFC) in Iraq.
During the meeting, they discussed strengthening bilateral relations between the Central Bank of Iraq and the IFC and the importance of cooperation between the two parties, particularly in the field of training banking personnel in Iraq. The two parties intend to sign a memorandum of understanding in this regard in the coming period.
His Excellency the Governor discussed the proposal to establish a leasing company with local and foreign participation. This is a financial system used to provide financing to projects and individuals without the need to directly purchase assets such as machinery and industrial equipment, vehicles, offices, and warehouses. This proposal supports emerging projects and small and medium-sized enterprises seeking easy and flexible financing.
The two parties discussed the importance of implementing the banking reform plan being implemented by the Central Bank of Iraq with the assistance of Oliver Wyman, within international standards that will enhance the soundness of the banking sector internationally and restore the ability of a group of Iraqi banks to conduct international transactions.
Central Bank of Iraq
Media Office
August 13, 2025
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KARMAL PARTNERS WITH ZAGTRADER FOR ELECTRONIC TRADING IN IRAQ
Karmal Brokerage has secured approval from the Iraq Stock Exchange (ISX) to launch a comprehensive digital transformation project in preparation for operations on the “Tabadul” electronic trading platform.
According to a press release, the initiative, the first of its kind in Iraq’s financial market, supports the government’s vision to enhance transparency and modernize trading infrastructure in line with international best practices.
Karmal will deploy the global ZagTrader platform to manage its front, middle, and back-office operations, integrate AI technologies, and implement anti-money-laundering (AML) and E-KYC procedures. The system will provide a secure, efficient, and fully integrated trading environment.
CEO Waseem Al-Jazrawi said the project will boost investor confidence and strengthen Iraq’s financial market both regionally and internationally, praising the support from the Iraq Stock Exchange Board of Governors and the Iraqi Securities Commission (ISC).
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BREAKING: IRAQ’S CENTRAL BANK LAUNCHES DIGITAL SECURITY PLATFORM FOR CASH OPERATIONS!
The Central Bank of Iraq (CBI) has unveiled the second edition of its Security Permits Platform, designed to enhance the management and organization of security clearances for authorized bank personnel and their vehicles during cash withdrawal and deposit operations. This move aims to bolster the safety and efficiency of cash handling processes across the country.
Key Features:
- Enhanced Security Measures: The platform provides over 80 data points for each user, supporting improved security procedures and strengthening the digital infrastructure of Iraq’s banking sector.
- Streamlined Processes: It facilitates the issuance of security permits for bank staff and vehicles, ensuring smoother and more secure cash operations.
- Alignment with International Standards: The initiative aligns with global best practices in financial security and operational efficiency.
Why It Matters:
This development is part of Iraq’s broader efforts to modernize its financial infrastructure and reduce reliance on cash transactions. By implementing such digital solutions, the CBI aims to enhance transparency, reduce the risk of financial crimes, and improve overall trust in the banking system.
The Central Bank of Iraq’s (CBI) aggressively pushes towards comprehensive banking reforms. These reforms, are not only well-documented but also intricately linked to an anticipated redenomination and potential revaluation of the Iraqi Dinar, signaling that Iraq is much further along in its financial evolution than widely perceived.
Central to the CBI’s strategy is the launch of a sophisticated security clearance platform. This innovative system is designed to meticulously manage and secure cash withdrawals and deposits, a critical prerequisite for a currency redenomination that will inevitably involve substantial cash movements. By incorporating over 80 data points per user, the platform significantly enhances transactional security, aiming to counteract illicit activities such as black market operations and cash hoarding, thereby fortifying the integrity of the financial system.
Further underscoring Iraq’s commitment to global financial integration is its partnership with Oliver Wyman, a leading international financial consultancy. Oliver Wyman is tasked with guiding Iraqi banks to align with stringent international standards, bolstering their governance, compliance, and risk management frameworks. This collaborative effort is geared towards re-establishing vital relationships with global correspondent banks.
The urgency of these reforms is underscored by a firm deadline: August 31, 2025, by which all banks must achieve compliance or face potential liquidation. While approximately ten institutions are currently undergoing liquidation or facing significant challenges, the overwhelming majority are actively engaged and making substantial progress.
Looking beyond immediate compliance, the CBI has articulated a longer-term technology roadmap extending to 2028, with the overarching goal of constructing a thoroughly modernized, secure, and internationally compliant banking infrastructure.
(Mnt Goat – Complementing these systemic upgrades, the Iraqi Stock Exchange has also seen a significant leap forward with the launch of an electronic trading platform by Carmal Brokerage and Zag Trader (see separate article). This development is crucial for fostering greater transparency and embedding modern financial practices, aligning Iraq’s capital markets with global best practices.)
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ERBIL, BAGHDAD SIGN OIL EXPORT MECHANISM AGREEMENT
Erbil and Baghdad have signed a new oil export mechanism agreement. The KRG will retain 50,000 bpd for domestic use, with the remainder handed to SOMO for export. Final implementation now awaits talks with Türkiye.
In a major breakthrough, the Kurdistan Regional Government’s (KRG) Ministry of Natural Resources and the Iraqi Ministry of Oil have finalized and signed a comprehensive agreement on the mechanism to resume oil exports from the Kurdistan Region, paving the way to end a costly suspension that has been in place since March 2023.
An informed source close to the agreement revealed to Kurdistan24 that the final accord was the culmination of an intensive process that began on July 17. During this period, technical delegations from both ministries conducted visits to all of the Kurdistan Region’s oil fields.
Following these on-site assessments of technical issues and a series of extensive discussions, a definitive agreement on the export mechanism was reached on the 11th of this month.
Under the terms of the new mechanism, the daily production from the Kurdistan Region’s oil fields will be allocated with 50,000 barrels retained for the region’s domestic needs, while the remaining production will be handed over to Iraq’s State Oil Marketing Organization (SOMO) for export.
According to information obtained by Kurdistan24, the formal record of the agreement has been signed by more than 20 individuals from both delegations, underscoring the breadth of the consensus.
The signatories included 17 members of the federal government’s Ministry of Oil delegation and five members from the KRG’s Ministry of Natural Resources delegation. The federal delegation has since concluded its work in the region and returned to Baghdad. With this crucial bilateral agreement now in place, the final step required for the resumption of oil exports from the Kurdistan Region rests with the federal government in Baghdad.
It is now incumbent upon the federal government to finalize its own talks with the Turkish government to allow the full implementation of the process and the reopening of the pipeline to the port of Ceyhan.
This new agreement comes at a critical time, as oil exports from the Kurdistan Region have been completely halted since March 2023. The halt was triggered by a lawsuit Iraq filed against Türkiye, which resulted in the cessation of exports through the Turkish port.
According to officials from the Kurdistan Regional Government, the prolonged suspension of oil exports has inflicted more than $50 billion in losses on the economies of both Iraq and the Kurdistan Region. The officials have consistently stressed that no party has benefited from this decision, highlighting the mutual economic damage caused by the export halt.
(Once this agreement was made now its time for Baghdad to reach out to Turkey to work with them on a trade agreement. So this next article show us progress in this area too. But there is much more to do for the Oil but I am confident this will all work out now that Kurdistan is happy.)
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IRAQ AND TURKEY AGREE TO FORM A JOINT CUSTOMS COMMITTEE TO ENHANCE TRADE COOPERATION.
Iraq and Turkey agreed on Wednesday to form the Iraqi-Turkish Joint Customs Committee, as part of strengthening cooperation between the two countries’ customs authorities. This will contribute to developing trade relations and facilitating the movement of goods across border crossings.
A statement issued by the Iraqi Embassy in Ankara stated that “the agreement came during a meeting held in the Turkish capital, Ankara, chaired by Sami Abdul-Hussein Radhi, Advisor to the Prime Minister of Iraq for Border Ports, Customs and Transport Affairs, and Sezai Oçarmak, Deputy Minister of Trade of Turkey. The two sides discussed mechanisms for raising the efficiency of work at border gates and developing customs cooperation.”
The meeting, according to the statement, addressed “ways to facilitate trade flows, increase the capacity of ports, and support infrastructure projects related to bilateral trade and transit.” The two sides affirmed their “keenness to raise the volume of trade exchange to $30 billion, enhance joint investments, and expand areas of cooperation through the Development Road project and the establishment of new customs ports.”
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Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just the FACTS!
Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.
Auf Wiedersehen
Much love to ya all,
Mnt Goat
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