CBI Tightens Rules For State Bank Advisers

2026-09-12 08:05   Shafaq News- Baghdad   Iraq’s central bank (CBI) has tightened oversight of advisers at state-owned banks, requiring licensed financial institutions to clearly define consultants’ responsibilities and keep their roles separate from executive management, Shafaq News learned on Saturday.

In an official circular, the CBI noted that the rules apply to both Iraqi and foreign advisers, stressing that experts cannot be given authority to perform executive duties. They are also barred from holding positions or serving on the board of the bank they advise or any other bank supervised by the CBI.

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BRICS BREAKTHROUGH: 11 NATIONS AGREE ON JOINT DECLARATION AS GLOBAL FINANCIAL ORDER FACES NEW TEST

The 11-member BRICS bloc has adopted its New Delhi Declaration, strengthening its call for greater economic cooperation, local-currency trade and improved cross-border payments as emerging economies seek a larger role in the global financial system.

Experts: Devaluing The Dinar Is Not A Solution To The Deficit... And The Government Has Other Alternatives That Don't Involve The Citizen's Pocket

About the news

With the deficit approaching one billion dollars per month, experts disagree on the feasibility of raising the dollar exchange rate.

Economic warnings against a return to raising the price of the dollar... Al-Khafaji: The citizen with limited income will pay the price.

Economic analysts have warned against resorting again to raising the exchange rate of the dollar against the Iraqi dinar, stressing that this step will exacerbate the burdens on citizens and push the prices of goods and services to rise.

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SAUDI OIL PIPELINE HIT: NEW ENERGY SHOCK THREATENS GLOBAL SUPPLY, INFLATION AND FINANCIAL STABILITY

Saudi Arabia has temporarily shut a critical oil pipeline after an aerial attack, removing an important alternative export route as global crude supplies are already under pressure and energy prices remain elevated.

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BRICS POWER SHIFT: XI, MODI AND PUTIN MEET AS TRADE, ENERGY AND GLOBAL FINANCE REALIGN

As BRICS leaders gather in New Delhi, meetings among China, India and Russia are putting trade, energy, industrial cooperation and the future architecture of global finance at the center of a rapidly changing economic order.

Iraq And Kyrgyzstan Seek Land Transport Agreement

2026-09-11 Shafaq News- Baghdad   Kyrgyzstan will send Iraq a draft agreement covering both freight and passenger transport for review at future meetings between the two sides, the Iraqi Ministry of Transport said on Friday.

During a video conference, the discussions centered on allowing Kyrgyz trucks to transit Iraq en route to Gulf states and on simplifying technical and customs procedures at border crossings to cut time and costs. The ministry said such an arrangement would strengthen Iraq's position as a trade corridor linking Central Asia to the region.

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RATE HIKE WARNING: EUROPE'S ENERGY CRISIS OPENS A NEW FRONT IN THE GLOBAL DEBT BATTLE

The European Central Bank has raised interest rates as energy-driven inflation accelerates, adding fresh pressure to European bond markets, government borrowing costs and an already strained global debt system.

The Kurdistan Regional Government Has Decided To Immediately Close All Forex Companies And Ban The Trading Of Digital Currencies.

Erbil (Kurdistan24) - The Kurdistan Regional Government has launched a broad campaign to combat illegal currency trading, ordering the immediate and comprehensive closure of all companies and offices operating in the field of electronic trading "Forex", with a strict emphasis on prohibiting the trading of digital and encrypted currencies.

The Dinar Must Be Changed! We Won't Remove Zeros, But The Current Currency Will Not Last

2026-09-09 |964    Following banking warnings that money hoarded in homes and outside banks is disrupting the liquidity cycle and weakening the banking system, an idea is emerging within the Central Bank and among members of the parliamentary finance committee to change the currency and launch a new series, instead of removing zeros, in a process aimed at withdrawing counterfeit, worn-out, and stolen currency, and returning part of the funds to the banking system, through a mechanism being discussed to link the exchange of large sums to opening accounts and proving the sources of funds.