Iraq Economic News and Points To Ponder Wednesday Evening 12-10-25

Recovering 6 Billion Dinars From Companies Manipulating The Exchange Rate

December 10, 2025   Provinces – Al-Zaman Correspondents
The Supreme Judicial Council recovered 6 billion dinars from three companies that violated the law by profiting from the difference in the dollar exchange rate. A statement received by Al-Zaman newspaper yesterday said that the Second Karkh Investigation Court recovered 6 billion dinars in a financial fraud case.

The statement added that the money was recovered from three companies that violated the law by fraudulently obtaining the difference in the dollar exchange rate through money transfers outside the country.

It emphasized that these efforts were carried out under the supervision of the court's judge, and that efforts are ongoing to take legal action against the remaining companies that employ illegal methods to obtain large profits at the expense of public funds.

In Anbar, the provincial criminal court sentenced a defendant to life imprisonment after he was found in possession of 4,000 narcotic pills. The statement explained that the convicted man was found with 4,000 Captagon pills with the intent to traffic and sell them to users.

It added that the sentence was issued against him based on Article 28, Paragraph 1 of the Narcotics and Psychotropic Substances Law.

In a related development, security forces arrested a driver attempting to smuggle 200,000 narcotic pills into a neighboring country, and three women were arrested on charges of theft and involvement in a dangerous network that extorted and threatened citizens.

A statement received by Al-Zaman newspaper yesterday indicated that the Anbar Narcotics Affairs Directorate apprehended a truck driver in the act of attempting to cross a border crossing.

The statement added that the arresting force seized a large quantity of Captagon pills, estimated at 200,000, which were hidden inside the suspect's truck in a criminal manner intended to smuggle them across the border into a neighboring country.

The statement noted that the necessary legal procedures were being taken against the suspect, and he was referred to the relevant authorities to complete the investigations in accordance with the law.

In Babylon, a security source reported that the National Security Directorate dismantled a dangerous network that had been extorting and threatening citizens. The source confirmed yesterday that National Security detachments had dismantled a dangerous network that had been extorting citizens.

In Baghdad, the Rusafa Police Command announced in a statement yesterday (the arrest of a group of three women on charges of stealing gold jewelry and money from inside women’s bags in the Rusafa district), noting that (the accused were placed in detention to take the necessary legal measures against them in accordance with the law).

In Kirkuk, a source in the provincial traffic police reported that one person was killed and others injured in a horrific traffic accident on the Tikrit-Kirkuk road. The source stated yesterday that "a horrific traffic accident occurred on the Tikrit-Kirkuk road as a result of a collision between a Kia vehicle and a cargo truck."

He explained that "the accident resulted in the death of a civilian at the scene, while two others sustained varying injuries and were subsequently transported to the hospital for treatment."

He added that "the road is still unpaved on the Kirkuk side, which has caused a number of traffic accidents in recent months due to damage to the road surface and the numerous potholes and uneven surfaces along the unfinished section." He confirmed that "traffic patrols have begun implementing measures to regulate traffic flow and ensure the safety of citizens."   LINK

The United States Renews Its Commitment To Partnership With Iraq On The Anniversary Of The Victory Over ISIS.

Political | 04:41 - 10/12/2025   Mawazin News – Baghdad:   The US Embassy in Baghdad stated that, eight years after Iraq achieved its territorial victory over ISIS, the United States is honoring Iraqi security forces, members of the international coalition, and all those who made sacrifices in the fight against terrorism.

In a statement, the embassy affirmed that the United States "remains committed to its partnership with Iraq, strengthening its sovereignty and building a more prosperous future," noting that security and military cooperation between the two sides is part of supporting Baghdad's efforts to maintain stability and prevent the resurgence of the terrorist threat.    https://www.mawazin.net/Details.aspx?jimare=271414

The Ministry Of Finance Suspends Appointments, Promotions, Bonuses, And Transfers Of Services.

Economy | 10/12/2025   Mawazin News - Baghdad:   The Ministry of Finance has decided to suspend all appointments, promotions, bonuses, and transfers of employees until the 2026 budget is approved.

The Ministry of Finance has decided to halt all appointments, promotions, bonuses, and transfers of employees until the 2026 budget is approved.

Previously, the government's financial advisor, Mazhar Muhammad Salih, outlined two possible paths for next year's budget and the financial situation in 2026: either maintaining the current spending on employment and investment and increasing domestic debt, or reducing spending and increasing revenue collection. https://www.mawazin.net/Details.aspx?jimare=271425

The Iraqi Economic Council Unanimously Renews Its Confidence In Its President, Ibrahim Al-Masoudi.
Thursday, December 11, 2025 | Economy Number of views: 82   Baghdad / NINA / The General Assembly of the Iraqi Economic Council renewed the election of its chairman and board members for the next four years.

In its session Wednesday evening, the General Assembly unanimously voted to re-elect and renew confidence in Ibrahim Al-Masoudi Al-Baghdadi as chairman of the Iraqi Economic Council's board of directors.

The following members were also elected to the board: Karim Nour Al-Yassiri, Baqir Kadhim Al-Mashat, Hussein Khawam Abdul-Abbas, Huda Hafez Al-Azzawi, Firas Rahim Majisar, Haider Naama Ali, Osama Khalil Al-Kubaisi, Ali Saadi Wahib, Dawood Shamo Khader, Sardar Khalid Omar, Mustafa Sabah Al-Samarrai, and Mohammed Shaker Al-Zubaidi. The

following alternate members were also elected to the board: Haider Rahim Tawtoot, Ronak Hamid Al-Jaf, Qais Hamid Al-Wazzan, Bashar Naama Jaber, Walaa Bahaa Al-Araji, and Wissam Abdul-Salam Al-Azzawi. /End 5
https://ninanews.com/Website/News/Details?key=1266225

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