Imagine a nation

Imagine a nation on the cusp of a financial renaissance. Over the last four years, Iraq has quietly yet diligently reshaped its banking and monetary landscape, setting the stage for a future of unprecedented international engagement. It began in 2020, when the Central Bank of Iraq (CBI) announced a sweeping reform strategy—strengthening governance, boosting financial stability, and aligning with global standards. Throughout 2021 and 2022, the CBI’s restructuring efforts ramped up, focusing on state-owned banks and broadening financial inclusion to serve more citizens and businesses.

By 2023, the pace intensified. Prime Minister Al-Sudani unveiled an overhaul for Rafidain Bank—one of the country’s largest institutions—and raised paid-up capital requirements across the board, elevating confidence in Iraq’s financial resilience. Enter 2024, where digital banking took center stage: The CBI closed in on the currency sale window to cut down dollar outflow, watched applications for digital banking licenses surge, and launched a wave of reforms—from expanding local bank branches to revamping anti-money-laundering protocols under the watchful eye of the Middle East and North Africa Financial Action Task Force (MENAFATF).

By year’s end, gold reserves had soared, bank deposits were up, and international players like Arab Bank Group re-entered the Iraqi market—testaments to a system on the rise. With all these pieces in place, it’s no wonder many are speculating about the Iraqi Dinar’s (IQD) future on Forex markets. Listing the IQD internationally would cement Iraq’s status as a formidable player in global trade, underscoring the years of reforms that have transformed its financial infrastructure.

@MelaniastasiaRomanov✅