News, Rumors and Opinions
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Clare: Under the Patronage of Prime Minister Ali Faleh Al-Zaidi, Iraq’s Permanent Mission to the United Nations Hosts Roundtable for Representatives of U.S. and Iraqi Banks
Under the patronage and in the presence of Prime Minister Ali Faleh Al-Zaidi, Iraq’s Permanent Mission to the United Nations in New York hosted a roundtable for representatives of a number of U.S. banks and financial institutions, as well as officials and specialists in economic and financial affairs and representatives of Iraqi banks.
In his remarks, the Prime Minister affirmed that Iraq is entering a new phase of economic transformation and financial and banking reform.
He noted that the weakness of Iraq’s banking system in recent years was due in part to its limited openness to and engagement with the international banking system, particularly U.S. banks.
The Prime Minister called on U.S. banks and financial institutions to participate in building a new economic future for Iraq, stressing that the entry of U.S. banks into the Iraqi market would represent a qualitative shift in the development of the banking sector, strengthen its ties with the global financial system, and enhance the efficiency of financial and investment transactions.
The Prime Minister stated that Iraq is now entering a new economic phase. It currently produces approximately 4.5 million barrels of oil per day, while the government’s policy aims to raise production levels to 10 million barrels per day as part of a vision focused on maximizing resources, directing them toward development, and diversifying the economy.
Prime Minister Al-Zaidi also affirmed Iraq’s openness to U.S. and international companies and banks, as well as the government’s efforts to provide an attractive investment environment and the necessary facilitation for investors. He noted that U.S. banks have broad opportunities to participate in the Iraqi economy and finance projects and investments across various sectors. The government also looks forward to an effective partnership with U.S. financial institutions and banks that contributes to developing Iraq’s banking sector and integrating the Iraqi economy more effectively into the global financial and economic system.
The Prime Minister explained that the government has established a clear starting point for economic, financial, and banking reform and has begun implementing a comprehensive reform plan for state-owned banks.
The plan is intended to enhance their efficiency, strengthen governance and compliance, and establish a banking sector capable of meeting the requirements of a modern economy. He also affirmed that measures to combat corruption and protect public funds are moving in the right direction, as the government works to strengthen systems and procedures that safeguard state funds and raise standards of transparency and governance.
Media Office of the Prime Minister
September 25, 2026
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Clare: The Central Bank of Iraq mandates new procedures for import transfers from banks.
9/24/2026
Al-Mustaqilla obtained a document issued by the Central Bank of Iraq, which includes a new executive mechanism to regulate foreign financial transfers for import purposes, and link them to customs declaration procedures and the prior payment of fees and tax deposits.
According to the document, issued by the Banking Supervision Department on September 24, 2026 and addressed to all licensed banks, the procedures come in implementation of paragraph four of Cabinet Resolution No. 413 of 2026, and with reference to the letter from the Ministry of Finance/General Authority of Customs.
The mechanism requires banks to ensure that all financial transfers allocated for imports are subject, before the transfer process is completed, to declaration or "pre-statement" and the pre-payment of customs duties and tax deposits through the ASYCUDA system.
The Central Bank also mandated that banks continue to include the pre-statement number in the data of external financial transfers, and link it electronically to the banking transfer system, in order to allow for matching the transfer with the pre-statement and accurately monitoring the import process.
The document reveals that the pre-clearance procedures will include all external transfers, whether financed from the banks’ own balances or from the balances reinforced by the Central Bank of Iraq, while the Central Bank is responsible for providing the General Authority of Customs with data on those transfers.
The instructions also included standardizing the coding of foreign transfers, which allows differentiation between transfers for importing goods and merchandise and transfers for shipping, insurance and services related to imported goods.
Under the mechanism, banks will follow up on financial transfers related to goods to be imported, as well as deal in accordance with applicable decisions and instructions with importers whose goods have not entered or whose import process has not been completed.
One of the important measures included in the document is obligating banks to obtain SWIFT verification of transfers before the initial approval of the preliminary statement, which enhances the matching process between the financial transfer and the import transaction.
The mechanism also stipulated the adoption of an electronic system for refunding customs duties and tax deposits previously collected in the event of a transfer being rejected or the import not being carried out in whole or in part, in coordination between the General Authority of Customs, the General Authority of Taxes and the Accounting Department in the Ministry of Finance.
However, the document stipulated that in cases of total or partial non-import, the funds that were transferred must be returned first, and confirmation must be provided from the bank that executed the financial transfer.
The Central Bank called on the Ministry of Finance, the General Authority of Customs, the General Authority of Taxes, and all banks to organize an explanatory media campaign before the date of implementation of the new procedures.
These instructions refer to tightening the linking of funds allocated for imports with customs and tax data, with the aim of raising the level of conformity and tracking between external transfer and the actual import of goods. LINK
Courtesy of Dinar Guru: https://www.dinarguru.com/
Jeff They're completely telling you, October moving forward, they're sovereign and international...The only way Iraq can be financially sovereign is to have full control over their own money, to have all their OPEC dollars back in their possession. They have to have full control of their money system...reserves, everything. I can't stress that enough.
Jeff As we get closer to September 30th, with the full withdrawal of US forces, do you see Iraq overall transitioning from a war era to a bilateral business era? I do. For example, PM Zaidi...signing/massing business economic trade agreements. Plus they have all these new taxes coming forward. They have the prepaid transit fees coming forward on October 1st. Major things happening as we get close to this date of September 30th at which US troops will be completely out of Iraq...
Ariel The digital Dinar (dIQD) is ready. The CBI’s digital Dinar (dIQD) is already designed to work on a permissioned ledger (meaning only trusted banks can touch it). When the new rate is announced, your paper IQD will be instantly convertible into digital Dinar (dIQD) at the new rate.
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Something Is About To Break...Here's Why
George Gammon: 9-26-2026
Warren Buffet is selling~ here is why.