Iraq Economic News and Points To Ponder Sunday Afternoon 10-11-26
"Raising The Dollar Is Not A Solution Without A Price," Maliki asserts, emphasizing that the success of adjusting the exchange rate hinges on the government's ability to contain its repercussions and protect citizens' incomes
Sunday, October 11, 2026 Baghdad - One News - Nouri al-Maliki, head of the State of Law Coalition, warned of the economic and living repercussions of raising the dollar exchange rate, stressing that the success of the exchange rate adjustment measures depends on the government’s ability to contain its negative effects and protect citizens’ incomes and purchasing power, as well as maintain market stability.
Al-Maliki said in a post on the X platform that those concerned with Iraqi economic affairs are divided between supporters and opponents of the decision to raise the dollar exchange rate, based on concern for the citizen’s purchasing power and standard of living.
He explained that adjusting the exchange rate of the national currency is one of the measures adopted by some countries to confront economic crises, but the success of this step remains dependent on the government’s ability to address its negative repercussions, protect citizens’ incomes, and reduce its impact on the markets.
Al-Maliki indicated that the government is about to take clear measures and mechanisms to ensure the preservation of citizens’ income and purchasing power, the stability of markets and the continuation of economic activities, in order to prevent citizens from bearing the burdens of economic remedies.
He called for the decision to raise the dollar exchange rate not to be used as a pretext to cause concern or create a tense atmosphere, stressing the importance of quickly announcing solutions and measures that would protect the individual's income and standard of living. He voted for the change.
Al-Maliki stressed the need to prioritize citizens' interests when dealing with economic challenges, and to adopt measures that preserve economic stability and mitigate the impact of exchange rate adjustments on people's livelihoods, ensuring that citizens are not burdened with the cost of government procedures. https://1news-iq.net/رفع-الدولار-ليس-حلاً-بلا-ثمن-المالكي/
An Economic Matter, And No Involvement Of Security Forces... Security Media Clarifies The Dollar Exchange Rate
economy sharing Clock Network Published on: October 11, 2026 The Security Media Cell confirmed on Sunday that the directives of the Commander-in-Chief of the Armed Forces, Ali Faleh al-Zaidi, emphasize that the issue of the exchange rate of the dollar and foreign currencies is a financial and economic matter, and does not fall within the jurisdiction of the security forces.
The cell stated in a statement that "the directives of the Commander-in-Chief of the Armed Forces stressed that the issue of the exchange rate of the dollar and foreign currencies is a financial and economic issue, governed by market mechanisms and supply and demand equations, and falls within the jurisdiction of the relevant financial and monetary authorities, foremost among them the Central Bank of Iraq, and is not considered a security issue."
She added that "the directives emphasize the need to deal with this file in accordance with legal and institutional jurisdictions," stressing that "there are no directives for the security forces to interfere in market activity or influence the exchange rate, and that their role does not exceed their legal duties in enforcing the law and implementing the original judicial orders issued by the competent authorities."
She added that “any measures taken against violators or those involved in illegal practices in dealing with foreign currencies are carried out in accordance with the approved legal and judicial procedures, and in coordination with the Central Bank of Iraq, each within its powers and jurisdictions, in order to prevent arbitrary procedures or infringement on the rights of dealers in a proper manner.”
The cell clarified that "the Central Bank of Iraq is the sectoral body responsible for supervising financial and banking institutions, regulating the work of exchange companies, monitoring their compliance with applicable regulations and instructions, and taking the necessary administrative and regulatory measures to protect the integrity of financial transactions, support the work of duly licensed companies, and reduce violations and illegal practices."
She stressed that "the security forces do not interfere in determining exchange rates or managing commercial and financial transactions, and that their procedures do not target legitimate economic activity, but are limited to implementing the law and judicial decisions, in coordination with the relevant sectoral authorities."
The cell called on citizens, merchants, money exchange companies and market participants to remain calm and continue their legitimate financial and commercial activities as normal, stressing that "the directives of the Commander-in-Chief are based on respecting institutional jurisdictions, consolidating the rule of law, and ensuring that economic and financial matters are handled by the competent authorities."
Al-Mada: The Framework Hints At Dismissing Al-Zidi From The Premiership To Appease The Dollar's Anger
10/11/2026 Baghdad - One News - 10/11/2026 Al-Mada newspaper revealed moves within the coordination framework to promote the possibility of dismissing Prime Minister Ali al-Zidi, (probably Maliki) in an attempt to contain the escalating public anger resulting from the decision to raise the exchange rate of the dollar against the Iraqi dinar.
According to the newspaper's information, the forces of the Coordination Framework were surprised by the extent of the popular reactions to the decision, despite their prior agreement to amend the exchange rate during their internal meetings.
The newspaper indicated that a meeting held by the Shiite forces at the home of the leader of the Wisdom Movement, Ammar al-Hakim, witnessed the discussion and approval of an economic plan that included three main measures: raising the dollar exchange rate, selling indebted institutions, and recovering funds from corrupt individuals.
It added that some of the political forces that approved the plan began looking for ways to contain its repercussions, amid escalating popular and political pressure on the al-Zaidi government. https://1news-iq.net/المدى-الإطار-يلوح-بإقالة-الزيدي-من-رئا/
CBI Strictly Monitors Banks Over Exchange Rate Fees After October 7 Adjustment
At a Glance
The Central Bank of Iraq is strictly monitoring financial operations following the October 7 currency adjustment to protect merchants.
Import companies must contact commercial banks to verify the execution of all remittances due prior to October 7.
The apex bank has already pre-funded commercial bank accounts to fully cover these specific legacy orders.
The Central Bank of Iraq (CBI) announced it is strictly monitoring banking operations following its recent exchange rate adjustment to ensure commercial banks do not penalize merchants with unauthorized currency fees on pre-existing import remittances.
Key Statements and Focus Area
The Central Bank has urged merchants to confirm pre-October 7 remittances, warning banks against charging extra exchange rate differences.
The CBI stated that it is "monitoring banking operations executed before and after the exchange rate adjustment and is verifying banks' compliance with effective instructions and regulations to ensure the protection of the rights of merchants and clients."
The Central Bank has urged import companies and merchants to contact their commercial banks to verify the execution of all remittances due prior to October 7, 2026.
The regulator emphasized that this verification is vital because the central bank has already pre-funded commercial bank accounts to fully cover these specific remittance orders.
Additionally, the apex bank reaffirmed that it is closely monitoring transaction delays to guarantee that merchants are exempt from paying exchange rate differentials on remittances verified and funded under the previous tariff.
Looking forward, the CBI is collaborating with commercial banks and electronic payment providers to introduce specialized foreign trade cards designed to streamline import financing for small-scale merchants under upcoming central bank regulations.
FYI
The banking regulator's rigorous compliance campaign follows market instability triggered by the sudden devaluation of the Iraqi dinar on October 7.
Acting on an emergency recommendation from the Ministry of Finance, the Iraqi Cabinet issued Resolution No. 544 to overhaul the state’s fiscal policy structure.
The new monetary mandates established an aggressive restructuring of the official USD/IQD exchange window, raising Ministry of Finance purchases from approximately 1,300 IQD to 1,500 IQD, sales to commercial banks from roughly 1,310 IQD to 1,510 IQD, and retail sales to the public from 1,320 IQD to 1,520 IQD per US dollar.
This policy shift effectively made purchasing foreign currency 15% more expensive at the official window, dealing an immediate blow to domestic purchasing power.
The sudden policy change instantly caused friction between local merchants and commercial banks as the street value of the dollar rapidly drifted toward 1,685 IQD, prompting several local banking institutions to attempt to extract the newly introduced exchange rate differences from business accounts on pre-existing orders.
Consequently, to minimize economic disruption, the Central Bank of Iraq intervened by ordering commercial entities to execute all import financing transactions initiated before October 7 at the legacy rate. https://channel8.com/english/news/67521