Iraq Economic News and Points To Ponder Monday Morning 11-17-25
The Center For Banking Studies Launches A Specialized Course On Financial And Administrative Corruption.
November 16, 2025 The Banking Studies Center announced the organization of a specialized training course entitled “Financial and Administrative Corruption: Basic Concepts”, during the period from November 16 to 19.
The course focuses on clarifying the comprehensive concept of financial and administrative corruption, reviewing the causes and factors leading to it, in addition to the negative effects of corruption on institutional performance and the national economy.
The course also covers the legal framework and national and international systems for combating corruption, and enables participants to distinguish between financial and administrative corruption, which enhances the ability to prevent and take appropriate action within institutions.
The course targets specialists in the financial and administrative fields, to provide them with the latest knowledge and practical practices in the field of combating corruption, which contributes to raising the efficiency of institutional performance and enhancing transparency and accountability. https://cbi.iq/news/view/3046
Government Advisor: Amending The Commercial Agency Law Supports Iraq's Requirements For Joining The World Trade Organization
Baghdad – WAA – Nassar Al-Hajj The Prime Minister’s financial advisor, Mazhar Muhammad Salih, confirmed on Sunday that the Cabinet’s approval of the draft law amending the Commercial Agency Regulation Law would support Iraq’s accession to the World Trade Organization and improve market efficiency by reducing prices and raising the quality of goods, as well as supporting investment and integration into the global economy.
Saleh told the Iraqi News Agency (INA): “The first amendment to the existing Commercial Agency Regulation Law represents an important legislative reform that enhances competitiveness, improves the quality of goods and services, and supports investment and integration into the global economy,” noting that “the amendment also contributes to building a more disciplined and equitable market, which will directly impact economic growth and consumer protection in Iraq.”
He added that "this amendment comes to address the gaps that appeared during the application of the law since 2017, whose main goal was and still is to promote and regulate commercial activity and improve the business environment in Iraq."
He explained that “the motives for the amendment are directed towards important axes, including addressing cases of actual monopoly by some commercial agencies in key sectors such as sensitive devices, consumer goods, and others,
as well as the need for more precise regulation of the relationship between foreign companies and local agents in accordance with international standards, with the necessity of raising the level of transparency and disclosure in registering agencies and documenting their contracts,” noting that “all the contents of the amendment are consistent with the need to protect the consumer from substandard goods and weak after-sales services, as we have explained, which drain the consumer and the national economy.”
He stated that "the amendment comes to support the state's direction towards improving the investment environment and attracting global companies directly to the national market."
He stated that "the most prominent aspects of the amendment are based on opening the field to greater competition between agents and preventing disguised monopolies, tightening registration and auditing procedures for commercial agencies through the Ministry of Commerce, in addition to clearer and stronger regulation of contracts between the local agent and the foreign supplier,
which enhances the rights of both parties, and obligating agents to higher standards of quality, warranty and maintenance, as well as strengthening governmental and tax oversight and digitization in agency procedures, and providing an important entry point towards building a competitive and fair market away from the dominance of closed agencies, and supporting the requirements for the country's accession to the World Trade Organization by enhancing transparency and competition."
He added that "amending the law also leads to strengthening national supply chains, encouraging local manufacturing, and establishing a stable and attractive legal environment for foreign direct investment that is consistent with global quality standards in developing the business environment, which is the focus of the World Bank and international trade and economic organizations."
He pointed out that "the implications of amending the existing Commercial Agencies Regulation Law are embodied in providing important economic pathways, foremost among them improving market efficiency by reducing prices and
raising the quality of goods as a result of increased competition, in addition to attracting new international companies and brands to the Iraqi market, reducing the restrictions imposed by monopolies, stimulating local investment in the fields of distribution, logistics and commercial services, in addition to protecting the consumer and providing better products with more committed after-sales services, and increasing state evenues by controlling tax compliance and regulating import operations." https://ina.iq/ar/economie/248050-.html
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