Iraq Economic News and Points To Ponder Monday Morning 11-17-25

The Center For Banking Studies Launches A Specialized Course On Financial And Administrative Corruption.
 
November 16, 2025  The Banking Studies Center announced the organization of a specialized training course entitled “Financial and Administrative Corruption: Basic Concepts”, during the period from November 16 to 19.
 
The course focuses onclarifying the comprehensive concept of    financial and administrative corruption,   reviewing the causes and factors leading to it, in addition to the   negative effects of corruption on  institutional performance and the   national economy.

The course also   covers the      legal framework and      national and international systems         for combating corruption, and   enables participants to distinguish between financial and administrative corruption,      which enhances the ability to         prevent and take appropriate action within institutions.
 
The course targets specialists in the financial and administrative fields,  to provide them with the latest    knowledge and    practical practices       in the field of combating corruption, which contributes to    raising the efficiency of institutional performance and    enhancing transparency and accountability.       https://cbi.iq/news/view/3046

Government Advisor: Amending The Commercial Agency Law Supports Iraq's Requirements For Joining The World Trade Organization
 
Baghdad – WAA – Nassar Al-Hajj  The Prime Minister’s financial advisor, Mazhar Muhammad Salih, confirmed on Sunday that the Cabinet’s approval of the draft law   amending the Commercial Agency Regulation Law would   support Iraq’s accession to the World Trade Organization and   improve market efficiency by      reducing prices and      raising the quality of goods, as well as      supporting investment and integration into the global economy. 

Saleh told the Iraqi News Agency (INA):   “The first amendment to the existing Commercial Agency Regulation Law represents an important legislative reform that    enhances competitiveness,    improves the quality of goods and services, and    supports investment and integration into the global economy,” noting that “the amendment also contributes to building a more     disciplined and    equitable market, which   will directly impact   economic growth and   consumer protection in Iraq.” 

 He added that "this amendment comes to address the gaps that appeared    during the application of the law since 2017,    whose main goal was and still is to        promote and regulate commercial activity and        improve the business environment in Iraq." 

He explained that  “the motives for the amendment are directed towards important axes, including   addressing cases of actual monopoly by some commercial agencies   in key sectors such as      sensitive devices,      consumer goods, and others,
 
as well as the need for more precise regulation of the relationship    between foreign companies and local agents        in accordance with international standards, with the necessity of raising the level of    transparency and    disclosure in registering agencies and    documenting their contracts,” noting that “all the contents of the amendment are consistent with the    need to protect the consumer from   substandard goods and    weak after-sales services, as we have explained,  which drain the    consumer and the    national economy.” 

He stated that "the amendment comes to support the state's direction towards    improving the investment environment and    attracting global companies directly to the national market." 

He stated that "the most prominent aspects of the amendment are based on    opening the field to greater competition between agents and    preventing disguised monopolies,    tightening registration and auditing procedures        for commercial agencies through the Ministry of Commerce, in addition to clearer and stronger regulation of contracts    between the local agent and the foreign supplier,
 
which enhances the rights of both parties, and   obligating agents to higher standards of      quality,      warranty and      maintenance, as well as    strengthening    governmental and tax oversight and    digitization in agency procedures, and    providing an important entry point towards building a   competitive and fair market away from the dominance of closed agencies, and     supporting the requirements for the country's     accession to the World Trade Organization by      enhancing transparency and competition." 

He added that  "amending the law also leads to strengthening national supply chains, encouraging local manufacturing, and  establishing a stable and attractive legal environment for foreign direct investment that is consistent with global quality standards in developing the business environment,  which is the focus of the    World Bank and    international trade and    economic organizations."

He pointed out that "the  implications of amending the existing Commercial Agencies Regulation Law are embodied in providing important economic pathways, foremost among them  improving market efficiency by   reducing prices and
    raising the quality of goods as a result of increased competition, in addition to    attracting new international companies and brands to the Iraqi market,    reducing the restrictions imposed by monopolies,    stimulating local investment in the fields of        distribution,        logistics and        commercial services, in addition to        protecting the consumer and        providing better products with more committed after-sales services, and        increasing state evenues by    controlling tax compliance and  regulating import operations."      https://ina.iq/ar/economie/248050-.html   

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