Thursday Iraq News Posted by Tishwash 7-23-2026
TNT:
Tishwash: The Central Bank Governor announces new initiatives to expand the operations of exchange companies.
The Governor of the Central Bank of Iraq, Nizar Nasser Hussein, met today, Wednesday, July 22, 2026, with a number of directors and board chairmen of exchange companies to discuss ways to develop the sector's operations and enhance its role in supporting the national economy.
According to a statement issued by the Central Bank and received by Mawazin News, Governor Hussein emphasized the Central Bank's commitment to revitalizing the exchange company sector and enabling it to play a more effective role. He also noted the importance of cooperation in addressing challenges and developing the non-banking financial sector.
He indicated that the coming period will witness the launch of new initiatives and activities to expand the scope of work of exchange companies and create new revenue opportunities, thereby strengthening their role in supporting the national economy and implementing initiatives that contribute to the sector's development and raise compliance and governance standards.
Hussein stressed that the commitment of exchange companies to these international standards is a fundamental pillar for enhancing the sector's efficiency and increasing public trust in it, as well as enabling companies to expand their activities and develop their services. He called for the continuation of their periodic meetings. link
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Tishwash: Central Bank of Iraq Outlines Roadmap to Reduce Cash Reliance and Expand Digital Services
The Central Bank of Iraq (CBI) held an expanded meeting on Tuesday with licensed electronic payment providers to accelerate the nation’s digital financial transformation, strengthen financial inclusion, and curb card misuse.
Chaired by CBI Governor Nizar Nasser Hussein, the meeting centered on executing the regulator’s strategic roadmap to modernize Iraq’s payment ecosystem and transition away from a cash-heavy economy.
Addressing representatives from the sector, Al-Alaq stated that the upcoming phase demands a noticeable increase in service quality, efficiency, and system reliability to build public trust in digital transactions.
Key Objectives and Strategic Focus
During the session, the central bank outlined several operational and regulatory priorities:
Compliance with Global Standards: The CBI urged payment firms to adhere strictly to international frameworks, particularly regarding cross-border financial transactions. Compliance is expected to enable higher card transaction limits and facilitate the rollout of new financial products.
Countering Card Misuse: Regulators and payment companies discussed joint enforcement procedures to prevent card misuse and enhance payment network security.
Expanding Acceptance Networks: Al-Alaq called on providers to expand POS (Point-of-Sale) acceptance networks, streamline digital collection processes, and deepen integration with licensed commercial banks.
The initiative comes as part of broader government efforts to modernize the national economy, reduce cash dependency, and implement modern financial infrastructure across both the public and private sectors. link
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Tishwash: Iraqi Money Exchange Syndicate: Dollar smugglers are linked to criminal networks
Iraqi Money Exchange Syndicate: Dollar smugglers are linked to criminal networks
The head of the General Syndicate of Exchange and Financial Mediation in Iraq, Diaa Al-Tai, provided clarification regarding the arrest of dollar smuggling networks, stressing that “criminal networks” are the ones carrying out the illegal activities, and that official companies are not responsible for them.
Al-Ta’i told Rudaw Media Network on Wednesday (July 22, 2026) that “the issues being discussed relate to criminal networks operating outside the law. These people do not represent in any way licensed financial institutions or exchange companies that are subject to the supervision of the Central Bank of Iraq.”
The Iraqi National Security Service announced on the 19th of this month the arrest of a network that smuggled more than one million dollars between Baghdad and Sulaymaniyah via Mastercard, in addition to the arrest of several other groups in Kirkuk, Basra and Nineveh.
Al-Ta’i added: “Licensed companies are fully committed to implementing the instructions and combating money laundering and terrorist financing, and they are subject to continuous monitoring and auditing.”
Regarding the Central Bank’s decision to reduce the dollar quota for travelers from $3,000 to $2,000, the head of the union explained that “this measure does not mean there is a shortage of foreign currency reserves, but rather comes within the framework of the Central Bank’s policy to develop mechanisms for selling foreign currency and encourage the use of electronic payment, in line with best international banking practices.”
Al-Ta’i expressed the readiness of exchange companies to cooperate with security agencies, saying: “Licensed companies are fully committed to the instructions of the Central Bank and are ready for all forms of coordination with regulatory and security authorities to confront any illegal activity, with the aim of protecting market stability and preserving the national economy.” link
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Tishwash: "The stick and the carrot": Al-Zaydi puts pressure on the factions and compensates his allies with positions.
The Washington trip brought in investments, but it opened the account book with "the framework".
Behind closed doors, Iraqi Prime Minister Ali al-Zaidi is facing three major objections from his partners in the Shiite coalition. His recent trip to Washington heads the list, while the weapons issue is approaching its most difficult test, and the anti-corruption campaign is turning into a battle for political influence.
Two political sources within the Shiite coalition say that the new relationship with the United States has become, for some leaders of the Coordination Framework, like “bitter medicine” that must be swallowed—while Tehran watches from behind the scenes and sends warning messages.
Al-Zaidi returned to Baghdad last Sunday after a controversial five-day visit to Washington, his first since taking office. On his way back, he made a brief stop in Qatar. He is scheduled to travel to Tehran tomorrow in a trip heavy with issues and more questions than answers.
The “victory leaders” held a meeting at the home of Nouri al-Maliki, leader of the State of Law Coalition. During the Coordination Framework gathering, objections were raised—though not made public—regarding what transpired during al-Zaidi’s meeting with U.S. President Donald Trump, according to a source close to the matter who spoke to Al-Mada.
Some leaders objected to the Prime Minister’s failure to respond to Trump’s remarks about the “leaders of victory,” a clear reference to the 2020 assassination of Qassem Soleimani and Abu Mahdi al-Muhandis.
Conversely, another faction within the Framework—often described as the centrist wing—believed that responding to the American president was unrealistic at that moment. They argued that al-Zaidi had wisely chosen to look toward the future rather than dwell on the past.
This stance angered analysts close to the Coordination Framework. One went so far as to demand that “al-Zaidi should hit Trump,” reflecting the depth of their disapproval.
For other parties in the Framework, the issue goes beyond how Trump was handled. While securing American investments is desirable, it cannot be achieved, they say, without neutralizing armed groups linked to the Iranian Revolutionary Guard. In the past five days alone, two foreign energy companies operating in the Kurdistan Region suspended operations after attacks believed to be linked to Iran and possibly involving local factions.
Major American companies, such as Lockheed Martin and ExxonMobil, have previously left Iraq at times due to attacks by armed groups and security risks.
In contrast, al-Zaidi returned from Washington with agreements and investment pledges totaling $60 billion in the energy, development, and education sectors. However, analysts warn that these investments may remain largely symbolic if the prime minister fails to meet American conditions regarding ending Tehran’s influence and curbing the power of armed groups.
Araghchi tries to contain the fallout in Tehran
Iranian Foreign Minister Abbas Araghchi has tried to limit the damage caused by remarks from Ali Akbar Velayati, an advisor to Iran’s Supreme Leader. Velayati described al-Zaidi’s visit to the United States as “a regrettable and ill-timed trip, insulting to the struggles of the Iraqi people throughout their millennia-long history,” and called the Iraqi prime minister “young and inexperienced.”
The visit comes as the region is engulfed in open conflict. For the past ten days, the United States has carried out successive strikes on Iranian military command centers, naval assets, missile and drone sites, and air defense systems. Iran has retaliated by attacking targets in Jordan, the Gulf states, and the Kurdistan Region, including weapons depots, Iranian opposition groups, military bases, and the U.S. consulate in Erbil.
Against this backdrop, al-Zaidi is expected to arrive in Tehran on Thursday for his first visit since assuming office more than two months ago.
Weapons: The Test That Could Fracture the Shia Alliance
A leader in a Shia party told Al-Mada that the smuggling of weapons to Syria—revealed last week—and the continued existence of weapons outside state control threaten to undermine the gains from al-Zaidi’s Washington trip.
The recent Coordination Framework meeting discussed weapons and dollar smuggling, as well as the disarmament of factions, amid warnings against deeper partnership with Syria. Some members still have reservations about cooperating with Ahmed al-Sharaa, whom al-Zaidi is expected to meet this July.
The weapons issue has opened another front of objection. Some voices within the Framework claim the campaign has political motives aimed at sidelining certain groups. In response, the government’s military spokesperson, Sabah al-Nu’man, stated that Prime Minister al-Zaidi’s vision for regulating weapons stems from a “paternal and patriotic” perspective aimed at protecting Iraqi security. He emphasized that the effort is not intended to harm any party but to unify national efforts.
Government spokesman Haider al-Aboudi added that restricting weapons to the state is a “sovereign Iraqi matter,” rejecting suggestions that it is part of an American agenda.
Meanwhile, Baghdad is searching for ballistic missiles that no faction publicly acknowledges possessing. Armed groups deny their existence, while Washington insists they were acquired from Iran—a claim Tehran denies.
The weapons issue is expected to dominate al-Zaidi’s upcoming discussions in Tehran. Officially, Baghdad says it is carrying out a mediation mission between Tehran and Washington, though some sources suggest the prime minister may also be carrying a direct message from President Trump.
From Weapons to Corruption: Another Front in the Battle
The anti-corruption campaign faces similar accusations of political targeting. Analysts see it as an effort to curtail Iranian influence, given the deep entanglement of funds and interests linked to the Revolutionary Guard.
Some Coordination Framework members accuse the government of selectively targeting one political faction while ignoring more serious cases. In response, the Framework issued a statement calling for all those involved to be held accountable, regardless of affiliation, and stressed it would not protect any guilty officials.
This controversy is linked to figures such as Ahmed al-Asadi. The campaign appears to be reaching high political levels, possibly even former prime ministers, which has fueled growing dissent.
Leaders within the Framework have criticized the use of tanks to arrest members of parliament inside the Green Zone and have demanded investigative committees. Many parliamentarians view the arrests as an “insult” to the legislature.
Sources say al-Zaidi is using a “carrot and stick” approach: applying pressure on weapons and corruption while preserving the privileges and appointments of political forces.
In this context, al-Zaidi reportedly reactivated the Office of the Commander-in-Chief— a position abolished twelve years ago—appointing former Interior Minister Abdul Amir al-Shammari, a close ally of former Prime Minister Mohammed Shia al-Sudani.
The anti-corruption campaign has hit al-Sudani’s circle particularly hard, with nine members of his team reportedly arrested. There are also major accusations surrounding the detained deputy oil minister, Adnan al-Jumaili.
To balance relations, al-Zaidi has granted advisory positions to figures from the Badr Organization and Asa’ib Ahl al-Haq. However, Asa’ib Ahl al-Haq faces a significant challenge, as Washington has so far refused to allow it any ministerial posts. This dispute is delaying the formation of the government, which still has nine vacant ministerial positions.
Badr Organization member Abu Mithaq al-Masari told Al-Mada that al-Zaidi might be prepared to govern with a reduced cabinet of just 14 ministers for the remainder of his term if necessary. He noted that each vacant ministry has its own separate complications, particularly the Interior Ministry, where disputes continue over who has the right to nominate candidates. link