Iraq Economic News and Points To Ponder Sunday Afternoon 9-6-26
Al-Taif Bank Pledges To Return Depositors’ Funds
2026-09-06 Shafaq News- Baghdad Al-Taif Islamic Bank said it would soon return depositors’ funds after a committee appointed by the Central Bank of Iraq (CBI) formally took control of the bank’s management.
The bank said on Sunday the committee began its work and is preparing a plan to set procedures for customers and settle their financial claims.
Earlier today, depositors protested outside Al-Taif Islamic Bank in Baghdad over frozen banking services and the suspension of withdrawals and deposits. The CBI later said the measure did not mean the bank was bankrupt, explaining that it was a precautionary regulatory action intended to protect depositors’ rights.
https://www.shafaq.com/en/Economy/Al-Taif-Bank-pledges-to-return-depositors-funds
CBI: Most Al-Taif Deposits Guaranteed
2026-09-06 Shafaq News- Baghdad Most depositors’ funds at Al-Taif Islamic Bank are guaranteed, and the Central Bank of Iraq (CBI) will intervene if the lender faces a shortfall, Governor Nizar Nasser Hussein said on Sunday.
Speaking with a group of economic specialists, Hussein said the CBI has reserves, financial tools and contingency plans to manage crises, adding that it has strengthened internal oversight and taken preventive measures toward financial and banking institutions.
The CBI is continuing its banking sector reform program in coordination with consulting firm Oliver Wyman. Hussein said the next phase would bring further changes aimed at strengthening the sector and integrating it more closely with the international financial system.
He added that international confidence in the CBI was “very high.”
On Iraq’s money supply, Hussein said the CBI has issued about 107 trillion dinars (about $81.7 billion) in currency, while roughly 40 trillion dinars (about $30.5 billion) is circulating in the market.
He also said changing the currency falls within the CBI’s authority, while removing zeros would require legislation from parliament.
The CBI plans to launch new lending initiatives for key projects to stimulate investment and production and expand the private sector’s role in the Iraqi economy, Hussein said.
He described banking reform as an ongoing process aimed at building a more efficient and competitive sector, adding that the government’s economic approach places greater emphasis on the private sector’s role in development.
Al-Taif Islamic Bank was placed under CBI guardianship on Sept. 2 over violations that the Central Bank said had affected its financial position and depositors’ funds.
Read more: Banking reform: Between necessary change and crippling conditions
https://www.shafaq.com/en/Economy/CBI-Most-Al-Taif-deposits-guaranteed
ISX Trading Value Plunges 81.6% In August
2026-09-06 Shafaq News- Baghdad The Iraq Stock Exchange (ISX) recorded 22.03 billion Iraqi dinars in trading value during August (roughly $16.8M), down 81.6% from July.
According to market data, more than 50.93 billion shares were traded during the month, a 69.4% decline from July, across 18 trading sessions.
The ISX60 index closed the month at 1,006.76 points, down 3.3% from July’s 1,041.07 points, while the ISX15 index fell 2% to 1,243.40 points from 1,267.67.
Throughout the month, the exchange executed 19,174 sale and purchase contracts, down 21.3% month-on-month, with 82 of the 125 listed companies recording trading activity.
https://www.shafaq.com/en/Economy/ISX-trading-value-plunges-81-6-in-August
Amman Chamber Exports To Iraq Surpasses $585M
2026-09-06 Shafaq News- Baghdad/ Amman Iraq imported 415 million Jordanian dinars ($585.2 million) worth of exports certified by the Amman Chamber of Commerce during the first eight months of 2026, ranking first among the chamber’s export destinations, the chamber data showed on Sunday.
Exports to Iraq were issued 1,912 certificates of origin, putting the country ahead of Switzerland at 102 million dinars ($143.8 million), the United Arab Emirates at 78 million dinars ($110 million), Saudi Arabia at 72 million dinars ($101.5 million) and Egypt at 54 million dinars ($76.1 million).
Overall, the value of exports covered by certificates of origin issued by the chamber reached 1.031 billion dinars ($1.45 billion) during the period, up 20.7% from 854 million dinars ($1.20 billion) in the same period last year.
By the end of August, the exports included foreign products worth 493 million dinars ($695.1 million), agricultural products worth 153 million dinars ($215.7 million), industrial products worth about 119 million dinars ($167.8 million) and Arab products worth 118 million dinars ($166.4 million), with other products accounting for the remainder.
Iraq accounted for about 40% of the chamber’s total exports in the first seven months of 2026, with exports to the country valued at 365 million dinars ($514.65 million).
https://www.shafaq.com/en/Economy/Amman-Chamber-exports-to-Iraq-surpasses-585M
Gold Prices Stabilize In Baghdad, Erbil
2026-09-06 Shafaq News- Baghdad/ Erbil Gold prices remained near 960,000 IQD per mithqal in Baghdad and Erbil markets on Sunday, according to a Shafaq News survey.
Baghdad's Al-Nahr Street recorded a selling price of 970,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 966,000 IQD, the same as Saturday.
The selling price for 21-carat Iraqi gold stood at 940,000 IQD, with a buying price of 936,000 IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 970,000 and 980,000 IQD, while Iraqi gold sold for between 940,000 and 950,000 IQD.
In Erbil, 22-carat gold was sold at 1,004,000 IQD per mithqal, 21-carat gold at 960,000 IQD, and 18-carat gold at 822,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-stabilize-in-Baghdad-Erbil-4-0
US Dollar Rises In Baghdad And Erbil
2026-09-06 Shafaq News- Baghdad/ Erbil The US dollar opened Sunday’s trading higher in Iraq, hovering around 155,000 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 154,900 dinars per 100 dollars, up from 154,650 in Saturday’s session.
In the Iraqi capital, exchange shops sold the dollar at 155,500 dinars and bought it at 154,500 dinars, while in Erbil, selling prices stood at 154,800 dinars and buying prices at 154,750 dinars.
https://www.shafaq.com/en/Economy/US-dollar-rises-in-Baghdad-and-Erbil-0
2026-09-06 Shafaq News- Baghdad US crude oil imports from Iraq resumed at 38,000 barrels per day (bpd) in the week ending Aug. 28, after no Iraqi shipments were recorded the previous week, preliminary Energy Information Administration (EIA) data showed.
Canada remained the largest supplier at 4.011 million bpd, followed by Venezuela with 598,000 bpd, Saudi Arabia with 379,000, Mexico with 210,000, Brazil with 137,000, Colombia with 111,000, Ecuador with 101,000, Nigeria with 71,000, and Libya with 1,000. https://www.shafaq.com/en/Economy/EIA-US-crude-imports-from-Iraq-resume-at-38-000-bpd
Hormuz Disruption Reroutes Thai Rice To Iraq
2026-09-05 Shafaq News- Bangkok Thai rice shipments to Iraq are being rerouted overland through Jordan and Turkiye as disruption in the Strait of Hormuz alters trade flows, Thai Rice Exporters Association Deputy Secretary-General Waniwat Kittiranglarp said.
Kittiranglarp stated that the sharp drop in recorded Iraqi purchases largely reflected the route shift rather than weaker demand. Iraq was Thailand’s largest rice market in 2025, importing 1,001,306 metric tons, according to association data.
Earlier this year, Thai exporters said shipments to Iraq had stopped for about three months after Gulf shipping was disrupted, cutting more than 200,000 tons from Middle East sales.
Transit cargo through Jordan’s Aqaba port rose 155.1% year-on-year in the first half of 2026, driven largely by goods trucked onward to Iraq as Gulf shipping remained disrupted.
https://www.shafaq.com/en/Economy/Hormuz-disruption-reroutes-Thai-rice-to-Iraq