Iraq Economic News and Points To Ponder Saturday Afternoon 7-25-26
CBI Revamps Organizational Structure
2026-07-25 13:47 Shafaq News- Baghdad Iraq's Central Bank (CBI) approved a broad restructuring of its organizational framework, upgrading its Directorate of Non-Bank Financial Institutions Supervision to a full general directorate as part of efforts to strengthen oversight and improve institutional performance.
According to an official document, the restructuring includes transferring the Operations and Settlements Department from the Information Technology and Payments Directorate to the Accounting Directorate, while policy, regulatory, digital solutions and financial services units will be moved to the newly established Directorate of Non-Bank Financial Institutions Supervision.
The bank also renamed the Information Technology and Payments Directorate as the Information Technology Directorate and abolished its Financial Inclusion and Information Security departments, redistributing their responsibilities among existing directorates and the Risk Management Department.
In addition, CBI dissolved its office responsible for coordinating branch operations, placing its branches in Basra, Mosul, and Erbil under the direct supervision of the deputy governor. It also introduced changes to reporting lines within its quality management and institutional development departments.
The restructuring is scheduled to take effect by July 30, with the Human Resources Directorate tasked with reallocating staff in line with the new organizational structure. https://www.shafaq.com/en/Economy/CBI-revamps-organizational-structure
Iraq Non-Oil Revenue Hits Record 16%
2026-07-25 Shafaq News- Baghdad Iraq’s non-oil revenues reached a record 16% of total government income during May and June, marking the highest contribution from sources outside the oil sector in years, the Echo Iraq Observatory reported on Saturday.
Non-oil revenues had previously accounted for less than 5% of state income before rising to around 10% during the government of former Prime Minister Mustafa al-Kadhimi (2020-2022), a level that remained largely unchanged under former Prime Minister Mohammed Shia al-Sudani (2022-2025).
‘’Revenues transferred by Iraq’s Kurdistan Region accounted for around 5.5% of total non-oil revenues,’’ the Observatory noted, attributing non-oil revenues to several sources, including taxes on goods, production fees, general service charges, taxes on income and wealth, transfer revenues and other state income streams.
Despite the increase in non-oil income, Iraq, OPEC’s second-largest oil producer, remains heavily dependent on crude exports. This reliance has come under growing pressure following disruptions to shipping through the Strait of Hormuz, which carries roughly 20% of global oil supplies. In late March, economic expert Nabil Al-Marsoumi estimated that Iraq had cut production by about 2.9 million barrels per day, the largest reduction among OPEC members.
Read more: No exit but Hormuz: Iraq's economic vulnerability exposed
https://www.shafaq.com/en/Economy/Iraq-non-oil-revenue-hits-record-16
Basrah Crudes Jump 16%+ For The Week
2026-07-25 Shafaq News- Basrah Iraq’s Basrah crude advanced more than 16% over the past week, outperforming several major global oil grades.
Basrah Heavy rose $1.47, or 2.28%, in the final trading session to settle at $65.82 a barrel, bringing its weekly gain to $10.93, or 16.61%. Basrah Medium also climbed $1.47, or 2.21%, to $68.12 a barrel, recording a weekly gain of $10.93, or 16.05%.
Brent crude futures settled at $96.55 a barrel, down $4.14, or 4.11%, while US West Texas Intermediate crude closed at $89.24 a barrel, down $2.95, or 3.20%. https://www.shafaq.com/en/Economy/Basrah-crudes-jump-16-for-the-week
USD/IQD Climbs In Baghdad, Erbil Trading
2026-07-25 03:47 m Shafaq News- Baghdad/ Erbil The US dollar opened Saturday’s trading higher in Iraq, hovering around 151,000 dinars per 100 dollars.
According to Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 150,500 dinars per 100 dollars, up from the previous session’s 150,450 dinars.
In the Iraqi capital, exchange shops sold the dollar at 151,000 dinars and bought it at 150,000 dinars, while in Erbil, selling prices stood at 151,000 dinars and buying prices at 150,850 dinars.
https://www.shafaq.com/en/Economy/USD-IQD-climbs-in-Baghdad-Erbil-trading
Gold Prices Retreat In Baghdad And Erbil Markets
2026-07-25 04:45 Shafaq News- Baghdad/ Erbil On Saturday, gold prices hovered around 855,000 IQD per mithqal in Baghdad and Erbil markets, according to a survey by Shafaq News Agency.
Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 856,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 852,000 IQD. The same gold had sold for 861,000 IQD on Thursday.
The selling price for 21-carat Iraqi gold stood at 826,000 IQD, while the buying price reached 822,000 IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 855,000 and 865,000 IQD, while Iraqi gold sold for between 825,000 and 835,000 IQD.
In Erbil, 22-carat gold was sold at 900,000 IQD per mithqal, 21-carat gold at 860,000 IQD, and 18-carat gold at 736,000 IQD.
https://www.shafaq.com/en/Economy/Gold-prices-retreat-in-Baghdad-and-Erbil-markets-7
Iraq And Iran Set Up Joint Operations Room To Manage Arbaeen Traffic
Money and business Economy News – Baghdad The governor of Khuzestan, Mohammad Reza Mwalizadeh, southwest of Iran, announced the establishment of a joint operations room between Iran and Iraq, with the aim of conducting the necessary coordination to facilitate the movement of visitors and provide services to them.
He said that the goal of all executive bodies is to provide an easy, safe and low-cost journey for the visitors of Arbaeen, pointing out that all the possibilities of the province are used to provide the necessary services.
In reference to the official launch of the processions of visitors through the crossings of the province, the governor of Khuzestan said: "The ceremony was held to start providing services to visitors at the crossing of Shalamjah, and the processions of visitors and service agencies began their work at an attractive crossing," noting that about 200 thousand visitors crossed these two border crossings.
“The processions, executives, relief teams and services are currently deployed at full capacity on the border, and the traffic is running smoothly and regularly.”
The Governor of Khuzestan expressed the hope that the continuous coordination and participation of the executive bodies will contribute to the provision of the necessary services to the visitors of the Arbaeen, and that this spiritual journey will be held with more security, order and comfort compared to previous years https://www.economy-news.net/content.php?id=71772