Wed. Iraq News Posted by Tishwash at TNT 10-14-2026
TNT:
Tishwash: The Association of Private Banks reveals three pillars for banking reform.
The Association of Private Banks revealed on Monday three pillars of banking reform, noting that the banking reform plan is reviewed every six months.
The association’s executive director, Ali Tariq, told the Iraqi News Agency (INA): “The Central Bank has launched a central reform plan for 2025-2027, and this plan concerns private banks, which must implement it on several axes, including governance, the work plan, financial indicators, in addition to compliance and combating money laundering.”
He added that "the banks are working on this plan and reviewing it every six months, with the aim of all banks implementing it," indicating that "there are paths to reform, whether reform individually, mergers, or outside the market."
He added that "the banking reform plan is a large plan with many requirements that private banks must fulfill within the set timeframe." link
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Tishwash: Al-Fariji: Raising the value of the dollar against the dinar does not represent financial reform.
Crisis expert Ali al-Fariji criticized the government's move to raise the value of the dollar against the dinar, pointing out that this decision does not constitute financial reform in itself.
Al-Fariji told Al-Maalouma, "Raising the exchange rate may provide quick liquidity, but it does not represent financial reform in itself. True reform lies in building a diversified revenue system, recovering funds and assets, reducing waste, and shifting the economy away from dependence on oil and the dollar's revaluation towards a financial management that measures results and creates real and sustainable revenues."
He added, "The 19.2 trillion dinars expected from the dollar's revaluation should be viewed as an approximate total book revenue, not a net gain for the treasury, because part of its impact may rebound on the state itself in the form of increased spending and import costs."
He explained that "maximizing revenues requires recovering Iraqi funds and assets, and establishing a specialized institutional framework to track and recover funds and assets proven to have been illegally transferred after 2003. This also necessitates reassessing files related to the funds and assets of the former Iraqi state. What is needed here is not political rhetoric, but a unified database of assets, verification of their ownership, tracing of their financial flows, and activating legal and international mechanisms to recover or freeze them through laws and agreements. link
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Tishwash: The IMF commends the Iraqi government's efforts in adopting a path of economic and financial reforms.
Finance Minister Faleh Sari announced on Wednesday a commitment to financial reforms and strengthening the role of the private sector in Iraq, while the International Monetary Fund praised the Iraqi government's efforts in adopting a path of economic and financial reforms.
A statement from the Ministry, received by the Iraqi News Agency (INA), stated that "the Minister of Finance, Faleh Sari, participated in the annual meetings of the International Monetary Fund and the World Bank Group, currently being held in the Thai capital, Bangkok, as part of strengthening cooperation with international financial institutions and supporting the path of economic and financial reform in Iraq."
He added that "the Minister of Finance held a series of meetings with officials of the International Monetary Fund, beginning with a meeting with the Fund's Executive Director for Iraq and the region, Mohamed Maait, and the incoming Executive Director, Ali Al-Hosni, in the presence of the Governor of the Central Bank of Iraq, Nizar Nasser Hussein, where the economic and financial conditions in Iraq were discussed, and views were exchanged on reform priorities and ways to enhance joint cooperation."
He added that "Finance Minister Faleh Sari met with the Regional Director of the Technical Assistance Department at the International Monetary Fund, Ali Abbas, to discuss areas of technical cooperation and prospects for benefiting from the Fund's expertise in developing financial and economic policies in Iraq."
During his meetings, the minister stressed "the importance of the partnership with the International Monetary Fund in supporting reform efforts and enhancing their chances of success, expressing his confidence in the possibility of completing financial reforms within the next two years."
Speaking about the current economic challenges, he pointed to the "repercussions of the Strait of Hormuz crisis and its impact on the Iraqi economy," explaining that "the government is working on preparing immediate remedies and future solutions to contain its repercussions."
The Minister of Finance revealed "a genuine trend to support the private sector and alleviate the pressures it faces, thereby strengthening its role in the market economy and contributing to expanding investment opportunities."
For their part, IMF officials praised the Iraqi government's efforts in adopting a path of economic and financial reforms, stressing the Fund's commitment to continuing to support Iraq and employing its expertise and capabilities to enhance these efforts and ensure their success. link
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Tishwash: Masrour Barzani and the US Consul discuss expanding investments in Kurdistan
On Tuesday, Kurdistan Regional Government Prime Minister Masrour Barzani emphasized strengthening the bonds of friendship and strategic partnership between the region and the United States, enhancing trade exchange, and expanding the prospects for American companies' investments in Kurdistan.
This came according to a statement from the Presidency of the Regional Government, received by Shafaq News Agency, during Barzani’s reception of the US Consul General to the region, Gwendolyn Wendy Green, this afternoon, in a meeting that witnessed discussions on developments in the general situation in the Kurdistan Region, Iraq and the region.
The statement noted that the two sides agreed on the importance of maintaining the security and stability of the Kurdistan Region, and stressed the need to activate the Kurdistan Parliament as a fundamental step to proceed with forming the new cabinet of the regional government.
He explained that the two sides discussed the course of relations between the Kurdistan Region and the federal government, where the importance of resolving contentious issues was emphasized based on the constitution, while stressing the need to respect the constitutional entity of the region, preserve its financial entitlements, and allocate its share of the federal general budget on fair grounds. link
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Tishwash: Fuad Hussein in Rome: Official meetings and discussions on relations with the Vatican
Foreign Minister Fuad Hussein began an official visit to Rome in preparation for the opening of the new building of the Iraqi embassy. The visit includes official meetings with Vatican officials to discuss issues of common interest and strengthen relations between the two sides.
The ministry said in a statement that “Foreign Minister Fuad Hussein arrived in the Italian capital, Rome, at the start of an official visit to the Vatican City State, during which he will inaugurate the new building of the Embassy of the Republic of Iraq to the Holy See.”
The statement added, “During the visit, the minister will hold a number of official meetings with officials in the Holy See to discuss issues of common interest and ways to strengthen relations between the Republic of Iraq and the Holy See.” link
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Tishwash: The Minister of Trade discusses prospects for joint cooperation with Chinese companies.
Minister of Trade Mustafa Nizar Al-Ani met today with a delegation of Chinese companies specializing in investment, banking and trade to discuss prospects for joint cooperation and review the opportunities available to develop economic and investment partnerships between the two sides.
A statement from the ministry, which was reviewed by (Shafaqna Iraq), stated that “the meeting witnessed the Chinese delegation presenting a set of visions, proposals and projects related to investment , developing the work environment and strengthening the partnership, which contributes to opening new horizons for cooperation and exchange of experiences, and benefiting from the capabilities available to both sides in supporting economic and commercial activity.”
The Minister of Trade pointed out that “the meeting emphasized the importance of strengthening communication with international investment companies and institutions, and creating appropriate opportunities to establish effective partnerships that contribute to supporting economic development and developing the commercial and banking sectors, in line with the Iraqi government’s directions to attract investments and enhance economic cooperation with various countries of the world.” link