Iraq Economic News and Points To Ponder Saturday Morning 9-26-26
Iraqi Dinar Strengthens Against Us Dollar Following Prime Minister's Us Visit
Ahmed Mohammed At a Glance
The Iraqi dinar has strengthened against the US dollar, with 100 US dollars trading at 157,000 dinars.
Iraqi Prime Minister Ali Faleh Al-Zaidi met with US financial institutions, banks, and President Donald Trump in New York and Washington.
Oil exports have rebounded near normal levels to 4.5 million barrels daily, bolstered by stabilizing financial conditions.
Channel8 sources note that expanding electronic platform access for traders and steady US dollar inflows are critical factors supporting the currency.
The Iraqi dinar registered notable gains against the US dollar following a high-level diplomatic and economic tour by Prime Minister Ali Faleh Al-Zaidi to the United States.
Key Financial Developments and Economic Drivers
Official Engagements: Prime Minister Al-Zaidi, accompanied by the ministers of finance and electricity, held pivotal discussions with US financial institutions to build active economic partnerships and reinforce national monetary stability.
Oil Export Recovery: With production reaching 4.5 million barrels per day and exports exceeding 70 million barrels last month, oil revenues have largely stabilized following disruptions tied to the regional conflict with Iran.
Market Perspectives: Erbil currency market spokesperson Keify Khoshnaw told Channel8 that while dinar strength depends heavily on dollar liquidity, market volatility may persist through the end of the month amid ongoing coalition footprint adjustments.
FYI
The Central Bank of Iraq manages monetary policy and regulates foreign currency exchange through electronic platforms designed to streamline trade financing and stabilize market exchange rates. https://channel8.com/english/news/66318
The Arms Embargo Hinges On Three Issues... Will Washington Impose Sanctions On Iraq?
2026-09-25 | SumerianNews - A political figure announced that a member of the Tafawuq parliamentary blocFaisal Al-IssawiThe issue of restricting weapons depends on three matters, while imposing [a ban/restrictions] is ruled out.USSanctions onIraq.
He saidAl-IssawiIn a statement to the program "Openly" which is broadcast on satellite TVSumerian"Security issues, including the presence of certain factions and their weapons, have an impact on the overall situation," he said, adding that "matters will not escalate to sanctions, and America will not impose sanctions on..."Iraq"
He considered thatUS"It is involved in numerous regional issues and does not want to drag Iraq into another crisis, but it will use pressure tactics, including internal ones, to exert pressure on certain parties," he noted, adding that "the political forces, including the factions, ultimately agree on the goal of regulating the weapons file."
He stated that "the disagreement regarding the restriction of weapons revolves around the timing, mechanisms, and terminology, issues that require internal dialogue," explaining that "there is an opinion within some circles that responding to demands related to weapons regulation should be met with tangible Western steps toward Iraq, particularly in the economic, service, and investment sectors."
Regarding the lawPopular Mobilization ForcesAl-Issawi said that his bloc has "observations on some details of the text, including those related to structures and administrations," stressing "the right of political forces to discuss and amend texts withinHouse of RepresentativesHe stressed
that “unless the Popular Mobilization Forces Law is passed, there will be no regulatory step after it,” considering that “the passage of the law represents the first point from which the rest of the steps related to regulating the weapons file must begin.” https://www.alsumaria.tv/news/politics/577049/حصر-السلاح-متوقف-على-ثلاث-قضايا-هل-ستفرض-واشنطن-عقوبات-على-العراق؟
Qi Mastercard Purchases Abroad Stopped Since Sept. 19, Company Source Says
BAGHDAD — Cardholders with Qi Mastercard cards have been unable to make purchases abroad since Sept. 19 because of system upgrades, a source at the company told 964media, confirming at least part of the complaint that Iraqi cards were failing overseas. Qi’s Visa cards continue to work outside Iraq.
“Development work is currently underway at the company, and because these upgrades took place directly on the system, there has been some disruption for all Qi Mastercard users,” said the source, who asked not to be named.
“They were working normally, and users could make purchases abroad before Sept. 19, but purchases have now stopped, while Visa cards issued by Qi continue to work normally outside Iraq.”
Withdrawals, payments and transfers inside Iraq are working on both, including personal, savings, employee, pension, business and gaming cards. No date was given for restoring the service.
Qi is one of Iraq’s main card issuers, widely used to pay public salaries, pensions and welfare benefits. Qi Visa cards carry a monthly limit of 6 million dinars on purchases abroad, about $4,500 at the official rate at which card spending overseas is settled. International ATM withdrawals are capped at 500,000 dinars a month for most cardholders, about $380, split into withdrawals of 200,000, 200,000 and 100,000 dinars, and at 650,000 dinars for employee and pension cards.
The source said Visa cards may also fail abroad if the limit has been reached, international use has not been enabled, the card has not been activated or the balance is insufficient.
The Trade Bank of Iraq denied on Tuesday that its own cards had been suspended, after former lawmaker Majid Shankali said Iraqis abroad, including students, retirees and travellers, had been unable to use cards issued by Iraqi banks for several days.
The disruption began on the day the Central Bank said its reserves were sufficient to settle card transactions, finance trade and supply travellers with dollars at the official rate, amid a widening gap between the official rate of 1,320 dinars to the dollar and a parallel market that reached about 1,602 at the weekend. Using a card abroad is currently the cheapest way for Iraqis to buy dollars. https://en.964media.com/52965/
Iraq Prime Minister's Office And Kuwait Joint Statement
المكتب الإعلامي لرئيس الوزراء 🇮🇶 @IraqiPMO Translated from Arabic Iraqi-Kuwaiti Joint Statement •••••••••• Based on the outcomes of the meeting between the Prime Minister of Iraq, Mr. Ali Falih Al-Zaidi, and His Highness the Crown Prince of the State of Kuwait, Sheikh Sabah Khaled Al-Hamad Al-Mubarak Al-Sabah, on the sidelines of the 81st session of the United Nations General Assembly in New York, and proceeding from the two brotherly countries' keenness to enhance bilateral relations and address outstanding files in a spirit of brotherhood, good neighborliness, and shared interests,
the two sides agreed on the following:
1- Forming a joint Iraqi-Kuwaiti working team tasked with reviewing the outstanding files, developing a roadmap for addressing them, and submitting its joint recommendations to the leaderships of the two countries within a period not exceeding (thirty days).
2- The team shall hold its meetings alternately between Baghdad and Kuwait on a continuous basis until the completion of its work.
The two sides affirm their full support for the team's work and their keenness to accomplish its mission, in a manner that contributes to closing the outstanding files and opening a new phase of cooperation and partnership between the two brotherly countries, serving the interests of the Iraqi and Kuwaiti peoples.
Rate this translation: · Sep 25, 2026 https://x.com/IraqiPMO/status/2103603851123159142