Thursday Iraq News Posted by Tishwash at TNT 7-2-2026
TNT:
Tishwash: The central bank governor is in parliament to discuss "major reforms" in the banking sector.
Al-Mustaqilla - In his first prominent political and economic move since assuming his duties, the Governor of the Central Bank of Iraq, Nizar Nasser Hussein, held a meeting with the Speaker of Parliament, Hebat al-Halbousi, to discuss the future of the Iraqi banking sector and financial reform plans, amid escalating economic challenges facing the country.
According to an official statement, the meeting witnessed extensive discussions on the reality of the Iraqi banking system and mechanisms for modernizing it, as well as the development of strategic programs and plans to restructure the financial sector and enhance the efficiency of Iraqi banks.
The Central Bank Governor stressed that the next phase requires proceeding with a comprehensive banking reform plan, which includes developing the infrastructure of the banking sector and raising the level of institutional performance, while strengthening coordination between monetary policy and the legislative authority to ensure financial stability.
For his part, the Speaker of Parliament announced the parliament’s support for measures and policies aimed at protecting the national currency and enhancing banking stability, stressing the importance of providing a more stable economic and investment environment in Iraq.
This meeting comes at a time when the Iraqi banking sector is facing increasing challenges and pressures related to financial and regulatory reforms, which puts the Central Bank’s new plans under political and economic scrutiny in the coming period.
At the conclusion of the meeting, both sides affirmed their commitment to continuing coordination and joint work to overcome legislative and executive obstacles, in order to contribute to building a stronger and more effective financial and banking system link
************
Tishwash: The New York Times: The United States resumes dollar transfers to Iraq after suspending them for months.
The New York Times: The United States has resumed dollar transfers to Iraq after suspending them for months.
The administration of US President Donald Trump had suspended dollar shipments to Iraq and frozen funding for security cooperation programs with the government to pressure Baghdad to dismantle armed factions, according to The Wall Street Journal.
According to officials cited by the newspaper, the US Treasury Department recently blocked the transfer of an air shipment of approximately $500 million in cash—revenue from Iraqi oil sales—from accounts at the Federal Reserve Bank of New York to Iraq, due to US concerns about Iraqi factions.
The US State Department told the newspaper that the Iraqi government's "failure" to prevent attacks by these factions "negatively impacts" Washington's relationship with Baghdad, noting that the Trump administration expects the authorities to take immediate action to dismantle these factions.
State Department spokesman Tommy Pigott emphasized that the US will not tolerate attacks on US interests, adding that "entities linked to the Baghdad government continue to provide political, financial, and operational cover for the factions."
US and Iraqi officials revealed to the newspaper that the suspension of dollar shipments to Iraq is a temporary measure, and that Washington informed Baghdad of its intention to suspend funding for some counterterrorism programs and armed forces training until attacks by armed factions cease. link
************
Tishwash: Abu Kalal: Iraq is close to launching Starlink services within a comprehensive regulatory framework.
The head of the executive body of the Media and Communications Commission, Baligh Abu Kalal, confirmed today, Wednesday, (July 1, 2026), that Iraq is proceeding with completing the procedures for licensing the Starlink service in its final stages, which will allow the introduction of one of the most prominent modern satellite communication technologies to the Iraqi market within a clear regulatory framework that preserves national interests and keeps pace with global developments.
During his speech at the opening of the third edition of the Iraqi Communications Summit, Abu Kalal explained that: “The communications sector is no longer a traditional service sector, but has become part of the modern sovereign structure of countries, and a fundamental pillar of the digital economy, e-government and smart services,” stressing that “the Authority views this sector as one of the engines of economic and social development in Iraq.”
He pointed out that the next phase will witness a greater focus on service quality, in addition to expanding coverage, through the development of technical monitoring tools and measuring performance indicators of operating companies, in order to ensure an improved user experience in various governorates.
The head of the executive body affirmed that the authority is proceeding with establishing a stable regulatory environment based on fair competition and the rule of law, indicating that Iraq supports investment, respects competition, and is working to build a stable communications market capable of keeping pace with the requirements of the future.
Abu Kalal also stressed the importance of fiber optic projects as the backbone of digital transformation, along with satellite communications and the fifth generation, as an integrated system that contributes to expanding users’ options and opening the way for more advanced industrial and service applications.
Mr. Abu Kalal pointed out that the Authority is working, in cooperation with the relevant authorities and companies operating in the sector, to prepare the regulatory and technical requirements for the transition to fifth-generation technologies, and to benefit from artificial intelligence applications in network management, improving the quality of services and raising performance efficiency.
He concluded his speech by emphasizing that the future of communications in Iraq is built through a partnership between the Authority, the Ministry of Communications, operating companies, investors, academic institutions and experts, in order to build a modern and sustainable communications sector that keeps pace with Iraq’s aspirations and the challenges of the times.link
************
Tishwash: Gulf States Are Watching Closely The Anti-Corruption Campaign In Iraq: "Investment In Exchange For Controlling Weapons."
Former Kuwaiti Information Minister Sami Al-Nisf believes that the future of Gulf investments in Iraq depends on the government's ability to impose state control over weapons and confront corruption, warning that the continued presence of armed groups outside the official system will keep Iraq from attracting capital. Al-Nisf explained, during a television interview published by local media, that “any Gulf economic openness to Iraq requires the existence of a state capable of extending its full authority, indicating that the international community holds governments respo
any attacks launched from their territories, regardless of who carries them out.” He noted that “the Gulf states are following with interest the efforts of Prime Minister Ali al-Zaidi’s government to restrict weapons to the state, in addition to the measures to pursue corruption cases, considering that the success of these two paths will give investors greater confidence in the Iraqi environment.”
He pointed out that “attacks carried out by drones cannot go unpunished,” explaining that international legal options remain on the table if such attacks continue, because international laws do not differentiate between non-state actors and the responsibility of the state on whose territory the incidents occur.
Al-Nisf explained that “achieving economic development requires security stability and the state’s monopoly on the use of force, stressing that the investor, whether from the Gulf or Iraq, first looks for a safe and stable environment before investing his money in any project.”
He added that “Iraq has great economic opportunities, but their investment remains contingent on consolidating state sovereignty, ending the manifestations of uncontrolled weapons, and strengthening the path of administrative and financial reform, in order to restore confidence in the Iraqi economy and encourage the flow of foreign investments.” link
Tishwash: From the top of the US Treasury Department to the Kurdistan Regional Bank: A new roadmap to boost banking confidence and attract investment
The Kurdistan Regional Commercial Bank (RTB) is holding its first meeting of its new board of directors. With this move, the bank will become the first local bank in Iraq and the Kurdistan Region of Iraq to implement an international governance system, a step that is expected to boost banking confidence in the region.
The council is chaired by Mr. Marshall Billingslea, former Assistant Secretary of the Treasury and former President of the Financial Action Task Force (FATF).
The Financial Action Task Force (FATF) is a global body that sets standards for combating money laundering and terrorist financing. The team also includes a number of prominent figures, such as Mr. Gregory Gatianis, former Deputy Director of the Office of Foreign Assets Control (OFAC);
Ilze Zanutina, former head of the Latvian Financial Intelligence Unit and advisor to the International Monetary Fund and the European Commission, and Dr. Jorge Jimenez, an expert on the US Federal Payments System, are among the board members. Other members include Hashim Hamandi, Basil Kivan, Adnan Kafait, and Colonel Hijazi. Yilmaz Ugur Ay, who has over twenty years of experience in the Iraqi and Turkish financial markets, will handle day-to-day operations as CEO.
The presence of this strong team of experts from the US Treasury Department and international institutions will open new horizons for the Iraqi banking sector, freeing it from the financial isolation it has suffered for years.
This radical change in three key dimensions could fundamentally transform Iraq's economic equation. First, it strengthens the bank itself. RTB Bank is upgrading its internal control system, risk management, and financial infrastructure to international standards, ensuring its protection against money laundering risks and its compliance with global standards.
Second, openness to the global financial system. Achieving this level of trust paves the way for correspondent banking with major American and European banks, a step that reduces import and export costs for local companies and facilitates the movement of funds.
Third, attracting foreign investment. When international companies see a local bank managed according to the highest international standards, they are more inclined to invest in Iraq and the Kurdistan Region.
The Regional Commercial Bank has been providing banking services since July 2001, and established its headquarters in Erbil in September 2003. It is licensed and registered with the Central Bank of Iraq, and has not been subject to any banking sanctions since its establishment to date. link
************
Tishwash: In the presence of the US Chargé d'Affaires, the Governor of Basra signs a memorandum of understanding with the American energy company KBR.
Basra Governor Asaad Al-Eidani signed a memorandum of understanding onTuesday with the American company KBR, which specializes in the fields of energy, space and technology, with the aim of strengthening cooperation in the energy sector.
The US Embassy in Iraq stated in a statement that Chargé d'Affaires Harris, accompanied by a delegation from the US company KBR, received the Governor of Basra, stressing his country's desire to deepen the economic partnership with Iraq, particularly in Basra Governorate, in a way that achieves tangible results that benefit both countries.
The statement added that Al-Eidani signed the memorandum of understanding with the American company, which is one of the world’s leading companies operating in the fields of engineering and energy, and is headquartered in Houston, Texas.
The move comes as part of efforts to strengthen economic cooperation and attract foreign investment to Iraq's energy sector link