Iraq Economic News and Points To Ponder Wednesday Evening 8-26-26
CBI Rejects Reports Of Printing New Banknotes
2026-08-26 Shafaq News- Baghdad The Central Bank of Iraq (CBI) on Wednesday denied reports that it had printed new Iraqi banknotes with zeros removed in preparation for their circulation.
Any future plan to restructure banknote denominations or remove zeros from the currency would require several legal, regulatory and technical steps if formally approved, the CBI said. Any such decision would be announced through the bank’s official channels and the media, along with a transition period allowing citizens, banks and other institutions to exchange the currency safely and in an orderly manner.
Read more: Iraq revives debate over removing three zeros from the dinar
https://www.shafaq.com/en/Economy/CBI-rejects-reports-of-printing-new-banknotes
Central Bank Of Iraq Decides The Truth About Deleting Zeros From The Currency
The Central Bank of Iraq denied printing a new currency with zeros removed, stressing that any future step to restructure currency denominations will be subject to legal and technical procedures and will be officially announced.
El Nahar
Central Bank of Iraq The Central Bank of Iraq denied, on Wednesday, the accuracy of the news circulating about printing quantities of the new Iraqi currency after deleting the zeros from it, in preparation for putting it into circulation, stressing that this information is not based on any official source.The Central Bank said, in a statement reported by the Iraqi News Agency "INA", that it followed the news and statements circulated by some media outlets regarding its printing of a new Iraqi currency with zeros deleted.
He added: "We confirm that this news is not based on any official source, and we deny that the bank printed a new Iraqi currency with zeros deleted".
What About Deleting Zeros In The Future?
The bank explained that any future project related to restructuring the Iraqi currency denominations or deleting zeros from them, if an official decision is taken in this regard, will be subject to multiple legal, regulatory and technical stages.
He pointed out that if such a project is approved, it will be announced through the bank's official channels and the media, with an appropriate transitional period set that allows citizens, banks and institutions to exchange currency in a safe and orderly manner.
He stressed that the measures will take into account "the full preservation of the financial rights and obligations of all", referring to the repercussions that could accompany any process of restructuring currency denominations.
Warning about undocumented information
The Central Bank of Iraq called on citizens and the media to rely exclusively on its official data and channels to obtain information related to monetary policy.
He also warned against the circulation of unverified news, figures and information, as this could lead to confusion or harm the financial interests of citizens.
The bank's clarification comes after the spread of information about the imminent launch of a new currency in Iraq after deleting zeros from it, which the bank categorically denied, while keeping the possibility of restructuring currency denominations in the future linked to the issuance of an official decision and the completion of the necessary legal and technical procedures.
Iraqi dinar Iraq's economy
New Iraqi Currency And The Removal Of Zeros: Important Clarification From The Central Bank
Following reports that the bank had printed quantities of the new Iraqi currency with zeros removed Arabic Business
Published in:August 26, 2026: The Central Bank of Iraq denied on Wednesday that it had printed quantities of the new Iraqi currency with zeros removed, stressing that any future project related to restructuring currency denominations or removing zeros would be subject to multiple legal, regulatory and technical stages.
The Central Bank said in a statement that "the Central Bank of Iraq has been following the news and statements circulating in some media outlets regarding the bank printing quantities of the new Iraqi currency with zeros removed, in preparation for putting it into circulation," stressing that "this news is not based on any official source, and we deny that the bank has printed a new Iraqi currency with zeros removed."
He added that “any future project related to restructuring currency denominations or removing zeros – in the event of an official decision being made in this regard – will be subject to multiple legal, regulatory and technical stages, and will be announced if approved through the bank’s official channels and various media outlets,” according to the Iraqi News Agency (INA).
He added that "an appropriate transition period will be determined that will allow citizens, banks and institutions to exchange currency in a safe and organized manner, to ensure the full preservation of everyone's financial rights and obligations."
The statement clarified that "the Central Bank of Iraq calls on citizens and the media to rely exclusively on its official data and channels to obtain information related to monetary policy, and not to rely on undocumented news, figures and information, due to the confusion or harm to citizens' financial interests that may result from circulating them."
Iraq, Syria Explore Ways To Expand Bilateral Trade
2026-08-26 Shafaq News- Damascus Iraq and Syria discussed ways to expand trade and economic ties during a meeting in Damascus on Wednesday between Iraqi Federation of Chambers of Commerce President Amer Khalaf Alawi and Syrian Deputy Minister of Economy and Industry for Internal Trade Maher Khalil al-Hassan, according to Syria’s Ministry of Economy statement.
Several memorandums of understanding are expected to be signed in the coming period as part of efforts to strengthen the economic and trade partnership and open new avenues for bilateral commerce, the statement added.
Both sides reviewed bilateral trade, including ways to increase the flow of goods and products between the two countries, “while addressing obstacles facing cross-border commerce and discussing practical measures to ease procedures and facilitate the movement of goods.”
The two officials also discussed greater coordination between business communities and chambers of commerce in Iraq and Syria, with a focus on expanding trade, stimulating markets, and creating broader opportunities for Syrian and Iraqi businesses and investors.
The meeting also underscored the need to remove trade barriers and create a more flexible environment for economic activity to promote greater integration and a stronger commercial partnership between the two countries.
On August 13, Khaled al-Khader, director general of the Syrian Authority for Supporting and Developing Local Production and Exports, told Shafaq that Syria is shifting from raw-material exports to higher-value products, with Iraq among its main markets alongside Jordan and the Gulf.
On May 1, Iraq launched its first crude oil export operation through the Rabia–Al-Yarubiyah crossing, dispatching an initial shipment of 70 tanker trucks to regional markets. crossing between Iraq and Syria reopened to trade and passenger traffic on April 22 after 13 years of closure driven by security challenges during the fight against ISIS, as well as shifting control and coordination issues along the frontier.
https://www.shafaq.com/en/Economy/Iraq-Syria-explore-ways-to-expand-bilateral-trade
Iraq, Shell Discuss Plans To Boost Gas Output In Basra
2026-08-26 Shafaq News- Baghdad Iraq’s Oil Ministry and Shell discussed plans Wednesday to increase gas production from fields in Basra and expand the use of associated gas, as part of efforts to strengthen the country’s energy sector, the ministry said in a statement.
The talks brought together Oil Ministry Deputy Minister for Extraction Affairs Naseer Aziz and Shell’s Iraq and UAE Managing Director Fakher Bader, during which both sides reviewed boosting the production and exports of naphtha and liquefied petroleum gas (LPG).
Aziz described gas investment as a key priority for the government and Oil Ministry, citing its importance in strengthening the energy system, reducing associated-gas flaring, securing fuel for industry and power plants, and maximizing the economic value of Iraq’s hydrocarbon resources.
He also called for continued development of gas projects, higher efficiency and production capacity, and faster implementation of plans to make better use of associated gas, supporting Iraq’s production and export capabilities and broader energy-sector development.
https://www.shafaq.com/en/Economy/Iraq-Shell-discuss-plans-to-boost-gas-output-in-Basra
Iran Intercepts Indian Oil Tanker In Strait Of Hormuz
2026-08-26 Shafaq News- Tehran Iranian authorities stopped an Indian oil tanker while it was transiting the Strait of Hormuz on Wednesday, Iran's semi-official Fars News Agency reported, identifying the vessel as HAANA.
The agency said that the vessel had attempted to pass through the southern shipping lane before changing course following an Iranian warning and being stopped.
The development came as at least three Indian oil refiners and a major global energy company plan to avoid vessels on Iran’s newly issued blacklist, including those involved in ship-to-ship oil transfers, amid concerns over possible Iranian action and security risks in the Strait, according to sources cited by Reuters.
Other companies are reviewing the Iranian warning and waiting for greater clarity on how Tehran intends to enforce it before changing their operations, the sources added.
Iran on Sunday blacklisted 45 vessels it accused of violating its rules for crossing the Strait and warned that vessels carrying cargo in cooperation with those ships could face action.
https://www.shafaq.com/en/Middle-East/Iran-intercepts-Indian-oil-tanker-in-Strait-of-Hormuz