The Central Bank launches new services via electronic wallets.
These services include:
- Exchange money transfers between validated, permanent wallets of various service providers.
- Reciprocal money transfers from permanent verified wallets to merchant wallets of various providers during purchases.
Media Office
September 3, 2025
Iraq launches a strategy for digital transformation and keeping pace with global developments.
Chairman of the Communications and Media Commission, Nofal Abu Raghif, revealed on Tuesday his country's ongoing efforts to establish an integrated digital system and enhance data protection in line with international standards.
During a speech at the first session of the Global Symposium for Regulators (GSR-25), Abu Raghif said, "The importance of coordinating international action in the telecommunications sector to strengthen digital infrastructure as a fundamental foundation for enabling digital services and expanding the base of beneficiaries of their outcomes at home and abroad."
He pointed out that "Iraq is working diligently to develop national policies in the telecommunications sector, in line with modern international trends, by adopting smart systems to build advanced digital paths in an innovative environment that accommodates rapid technological transformations."
Abu Raghif pointed out that "Iraq's priorities in this regard have been focused for years on encouraging an environment for technological innovation, fostering digital initiatives, and enhancing technical skills and national capabilities in this vital sector, as part of the digital transformation and development of public services across various sectors."
He explained that "participating in these important international events represents a strategic opportunity to exchange expertise and engage with global regulatory visions, in accordance with shared priorities that enable countries to overcome emerging technical and regulatory challenges."
Oman welcomes Al-Sudani... What's behind the meeting?
Iraqi Prime Minister Mohammed Shia al-Sudani is preparing for an official visit to the Sultanate of Oman tomorrow, Wednesday, in a move described by some as "regular diplomacy," while others see it as an attempt to rearrange the political and economic cards in the region.
According to the Oman News Agency, which Al-Mustaqilla monitored, Al-Sudani will hold official talks with Sultan Haitham bin Tariq, accompanied by an official delegation including senior Iraqi government officials. However, the question that arises is: Is this visit limited to strengthening bilateral relations, or are there ulterior motives related to sensitive economic and political issues?
Observers point out that Iraq faces major challenges regarding the economy and the stability of the local currency, in addition to international pressures related to investments and energy. This visit may be an opportunity for Al-Sudani to secure Omani support or open new doors for Gulf investments, especially in light of the regional tensions plaguing the region.
From a political perspective, some analysts believe this visit comes at a critical time ahead of Iraq's upcoming elections. This could raise questions about whether Baghdad is seeking to bolster its domestic image or whether it is simply an attempt to showcase diplomatic achievements ahead of the elections.
Ultimately, Al-Sudani's visit to Oman carries numerous political and economic dimensions, and the coming days may reveal the real issues being discussed by Iraqi and Omani officials, and whether this visit will be merely a diplomatic protocol, or whether it will impact the course of Iraqi politics and the economy in the coming months.
Is Sudan knocking on Muscat's door to enter the White House?
At a critical regional moment, Prime Minister Mohammed Shia al-Sudani is knocking on Muscat's doors with a visit that goes beyond protocol, attempting to escape the "muzzle of the gun" Iraq finds itself in amid a regional war and a US military withdrawal, according to observers. While they assert that al-Sudani is seeking mediation in Oman with the White House, which has repeatedly refused to receive him over the past two years, others interpret the visit as a sign that Iraq's diplomatic channels are closing.
Political analyst Nizar Haidar told Al-Alam Al-Jadeed, “Prime Minister Mohammed Shia al-Sudani’s visit to Muscat is the first of its kind, and perhaps the first visit by an Iraqi prime minister since 2003. It comes amid extremely complex and dangerous regional and international circumstances. No one can predict what developments the next phase may bring, while Iraq remains at the heart of these events, as if it were in the barrel of a cannon.”
Haidar added, “Al-Sudani is aware of these risks, and is therefore looking for reliable mediators such as the Sultanate of Oman to bring views closer with the US administration, given that Muscat represents a pivotal party that enjoys trust in any mediation process, whether between the countries of the region themselves or between them and the international community.” He pointed out that “this issue will be strongly present in Al-Sudani’s discussions with the Sultan of Oman, in an attempt to persuade him to intervene and open channels of communication with Washington, which has so far refused to deal directly with Al-Sudani at the highest levels.”
He points out that "over the past two years, the Iraqi Prime Minister has submitted no fewer than ten official requests to visit the White House and meet with the US President, but all were rejected, the most recent of which occurred just about ten days ago, via Iraqi intermediaries close to the US administration."
The Washington-based political analyst notes that "this visit aligns with Iraq's urgent need for American support, especially in the event of any potential threats or military attacks from Israel. The United States, which is bound to Baghdad by a Strategic Framework Agreement, is the only force capable of deterring such attacks. It is the only party capable of preventing Iraq from slipping into a military confrontation should some armed factions become embroiled in an open regional conflict."
Haider concludes his remarks by saying, "Al-Sudani is trying to leverage all his diplomatic tools and foreign relations to keep Iraq out of danger. This is what the Iraqi Foreign Minister recently expressed when he said that Iraq has no means of defending itself except through soft power, i.e., dialogue and building relationships. This makes seeking Omani mediation a necessary step in this context."
Prime Minister Mohammed Shia al-Sudani is making a two-day official visit to the Sultanate of Oman on Wednesday for talks with Sultan Haitham bin Tariq, according to the official Oman News Agency, which confirmed that an official delegation including several senior Iraqi government officials will accompany al-Sudani.
Sources revealed to Al-Alam Al-Jadeed on Monday that the agenda of Al-Sudani's visit will include discussing the turbulent situation in the region by bringing Muscat into the line of calm between Iran and Israel, in addition to agreeing on political, diplomatic, economic and investment understandings, to complement the government's efforts to control the borders with both Syria and Iran, and to curb the activities of factions or the transfer of their weapons outside Iraq.
For his part, Ahmed Al-Yasiri, director of the Arab Australian Center for Studies, told Al-Alam Al-Jadeed that “Al-Sudani’s visit to the Sultanate of Oman is not a coincidence, but rather reflects the state of weakness and decline that has recently affected Iraqi foreign policy, as its diplomatic outlets have clearly begun to shrink, especially after the United States announced its plans for a gradual withdrawal from Iraq, which was accompanied by significant Iranian and factional pressure on Al-Sudani’s government after October 7, 2023.”
Al-Yasiri adds, “Al-Sudani has realized the seriousness of this phase, especially since the political and security landscape in Iraq was governed for years by the American-Iranian duality, but today it has become more complex with the entry of new parties into the fray, which has made Iraq’s foreign policy options narrower and more difficult.” He points out that “Iraq’s retreat in the Arab world was clear during the recent Arab summit and the positions of some Gulf states, which prompted Baghdad to search for a new outlet, and it found in Muscat a potential window to revitalize its relations.”
He asserts that "the Sultanate of Oman represents a flexible diplomatic arena, capable of investing in its relations with Iran and other regional players. This is why Al-Sudani is attempting to place some of his stakes in the Omani basket, sending a message that Iraq remains open to its Arab surroundings, without directly provoking Iran."
The director of the Arab Australian Center for Studies points out that “Tehran views any Iraqi attempt at regional openness with suspicion, as it views it as an attempt to remove Iraq from its sphere of influence or to draw it into regional alliances that may be sponsored by the United States. Therefore, it seeks to keep Iraq’s foreign relations undisciplined in a way that ensures its continued support for Iran.” He continues, “The biggest problem lies in the Iraqi parties and forces close to Iran, which lack the experience and ability to maneuver in the face of this pressure, which has led to a decline in Iraqi relations with the Arab world and the erosion of its political credentials.”
Al-Yasiri also views Al-Sudani's visit to Oman from several angles. He says it is "a message to the West and the United States that he remains open to diplomacy, and an internal message before the elections to show that his government is active abroad. However, in reality, it reflects the failure of Iraqi diplomacy under Al-Sudani compared to what it was under Al-Kadhimi, when external activity was more evident and influential."
It is worth noting that Prime Minister Mohammed bin Salman Al-Sudani received an official invitation from Sultan Haitham bin Tariq Al-Said of Oman to visit the Sultanate on December 21, 2024. The invitation was delivered by Omani Foreign Minister Badr Al-Busaidi during his visit to Baghdad.
The Sultanate of Oman played a major role in mediating between Iran and the Gulf states, particularly Saudi Arabia, in addition to its recent role in the 12-Day War, as well as the nuclear negotiations that were ongoing before and after the war.
In this regard, political analyst close to the Prime Minister, Aid Al-Hilali, told Al-Alam Al-Jadeed that “Al-Sudani’s visit to the Sultanate of Oman comes at a sensitive time for the region, which makes it a subject of close monitoring by observers and analysts. It also came based on an invitation extended to Al-Sudani more than a year ago, and it reflects the strength of Iraqi-Omani relations. However, today it has acquired broader dimensions than just bilateral cooperation, as it touches on political and security issues of an extremely important regional nature.”
Al-Hilali added, "The Sultanate has historically been known for its neutral role and policies based on dialogue and rapprochement between conflicting parties, which gives this visit a dimension that goes beyond mere protocol. The tensions witnessed in the region, whether at the level of regional escalation or internal divisions within some countries, impose the need for mediation efforts and coordination of positions, which Iraq seeks to enhance by leveraging Oman's trusted expertise in this field."
He asserts that "Iraq has been trying for some time to consolidate its position as a link between regional rivals, and views the Sultanate as a reliable partner in achieving this goal."
In parallel with the political aspect, a political analyst close to the prime minister notes that "the visit has significant economic dimensions, as Iraq is moving toward diversifying its investment partnerships away from reliance on traditional partners. Oman, with its strategic ports and geographical location on the Arabian Sea, could be a new gateway for Iraq to global markets, particularly in the areas of energy, logistics, and free trade."
He does not rule out that the talks will address "investment, maritime transport, and renewable energy issues, but the most important dimension will remain political." He added that the visit is likely to discuss "regional developments, including the situation in Yemen, indirect talks between rival parties in the region, as well as coordinating positions on maritime security in the Arabian Gulf."
Al-Hilali concludes, "Al-Sudani's visit to Muscat cannot be reduced to its mere protocol, but rather represents part of an Iraqi strategy to strengthen economic partnerships and activate diplomatic engagement at a regional moment filled with transformations. If Baghdad and Muscat succeed in unifying their efforts, this visit could mark the beginning of a new path that contributes to achieving balance and stability in the region
Iraq and the United States discuss the importance of continued security cooperation.
Prime Minister Mohammed Shia al-Sudani discussed with the new commander of U.S. Central Command, Admiral Brad Cropper, on Tuesday the importance of continuing dialogue on joint security cooperation at the bilateral level between Iraq and the United States.
According to a statement from the Prime Minister's Media Office, which was received by Kalam Al-Akhbari, "This came during Al-Sudani's reception of the new commander of the US Central Command, Admiral Brad Cropper, and his accompanying delegation, in the presence of the Chargé d'Affaires of the US Embassy in Iraq."
He added, "The meeting discussed various security and military aspects between Iraq and the United States, progress made in the war on terrorism, and follow-up on the implementation of the joint declaration issued in September 2024, with commitment to all provisions of the agreement emphasized."
He also explained that "the meeting emphasized the importance of continuing dialogue on joint security cooperation at the bilateral level between Iraq and the United States, as well as exchanging views on aspects of the bilateral partnership and ways to develop it."
The Prime Minister noted that "the partnership between Iraq and the United States has achieved significant results that serve the interests of both countries and have contributed to enhancing security and stability locally, regionally, and internationally."
For his part, Admiral Cooper praised "Iraq's role as a model of successful counterterrorism cooperation," reiterating his "commitment to building on the successes achieved, continuing security cooperation, and strengthening strategic communication in the coming period."
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What else is the KRG talking about today besides salaries?
Kurdistan Regional Government (KRG) is scheduled to meet today to discuss the new driving license system in the Kurdistan Region On the subject of the meeting.
"The Kurdistan Regional Government (KRG) will meet today to discuss the issues of salaries, oil and internal revenues, but the proposal of the Interior Ministry on a new system for issuing driver's licenses will be the second topic," a source said "The meeting will be chaired by the Kurdistan Regional Government."
The delegation, which returned to Erbil from Baghdad last night, will participate in today's meeting of the Kurdistan Regional Government (KRG) and will discuss the details of the problems between Erbil and Baghdad the meeting
The meeting will also discuss the negotiations between Erbil and Baghdad, so that the Council of Ministers will listen to the report of the negotiating delegation on the recent meetings and joint committees between the Kurdistan Region and Iraq on salaries, non-oil revenues and resumption of oil exports.
The meeting will also discuss the proposal of the Ministry of Interior to implement a new system for issuing driver's licenses in the traffic departments of the region.
How will the fate of other salaries be decided? |
Two separate meetings in Baghdad, one on oil exports and the other on non-oil revenues, will decide the fate of the July and subsequent months of salaries in the Kurdistan Region.
A senior source told 7day that the negotiations will be held with the participation of the Ministry of Natural Resources and the Federal Oil Ministry.
In the Kurdistan Region, oil companies want a guarantee from Baghdad to pay $16 in oil extraction and transportation costs on a regular basis, he said.
Another obstacle facing some oil companies is the cost of transporting oil from their fields to the export pipeline.
The Kurdistan Regional Government (KRG) and the Federal Ministry of Finance will resume talks on the amount of non-oil revenues handed over with the participation of the Iraqi Prime Minister's legal representative.
Their dispute over the percentage of non-oil revenues handed over. Baghdad demands 50 percent of the revenue from border crossings and federal institutions, but the Kurdistan Region considers the customs revenue as its share and 50 percent of the customs revenue as Baghdad's share, along with 50 percent of some taxes.
"A special committee headed by the Iraqi Planning Minister and with the participation of the prime minister's legal representative will participate or supervise the meetings. If the Erbil and Baghdad teams agree, they will submit a report on their differences within a week.
"The Iraqi government has decided not to send the July salaries unless an agreement is reached on the non-oil revenues and the delivery of oil," he said.
A delegation from the Kurdistan Regional Government will visit Baghdad tomorrow.
A source in the Ministry of Finance of the Kurdistan Regional Government (KRG) stated that a delegation from the KRG is scheduled to visit Baghdad tomorrow, Wednesday, to discuss the issue of non-oil revenues.
Erbil and Baghdad agreed to hand over 120 billion dinars of non-oil revenues from the KRG to the Iraqi government to cover the salaries of May and June, and the salaries for both months have been sent.
Meetings are scheduled to continue to resolve the issue of handing over non-oil revenues and other items, to ensure the payment of salaries for the coming months.
The source told the Kurdish media network, Rudaw, that "a delegation from the Kurdistan Region is scheduled to visit Baghdad again tomorrow, including Omed Sabah, Chief of Staff of the Kurdistan Regional Council of Ministers; Kofan Tahsin, Director General of Accounts at the Ministry of Finance; Amanj Rahim, Secretary of the Council of Ministers, and some directors of the Ministry of Finance."
According to the Rudaw source, "the delegation aims to discuss the agreement on non-oil revenues to be the basis for the coming months, in order to resolve the salary issue."
A Finance Ministry official stated, "The delegation will leave tomorrow evening and is scheduled to meet with the Finance Ministry on Thursday."
The establishment of the National Bank is in the final stages
The National Bank of Kurdistan (KRG) has been established in the Kurdistan Region of Iraq (KRG).
The big picture : The National Bank will be directly affiliated with the Central Bank of Iraq and will operate with an advanced system. Electronicization of the financial system will be among the first tasks. It can also provide dollars to Kurdistan's currency markets. It also encourages the banking system in the Kurdistan Region to be modern and reliable, and promotes the business sector.
Official statement: A senior source in the General Directorate of Commercial Banks told Ava, "The National Bank will start its operations in the near future.
The Kurdistan National Bank was established in November 2023 and licensed by the Iraqi Central Bank in December 2023. It will affect the provision of loans and advances to citizens to develop small economic projects and create job opportunities for young people .
Al-Sudani: Our government sought to find constitutional solutions to the financial entitlements of the Kurdistan Region.
Prime Minister Mohammed Shia al-Sudani said on Tuesday that his government sought to find constitutional solutions to the financial entitlements of citizens of the Kurdistan Region.
This was stated by the head of the Kurdistan Justice Group, Ali Babir, according to a statement issued by the Sudanese media office.
The statement added that during the meeting, the issues between the federal government and the Kurdistan Regional Government of Iraq were reviewed, including agreements related to financial entitlements and the impact of the commitment to implementing them on the citizens of the region, in addition to discussing regional and international developments.
Al-Sudani pointed out that the government, based on its responsibility to its citizens throughout Iraq, sought to find appropriate constitutional, legal, and legislative solutions to the issue of financial entitlements and to ease the burden on citizens in the region. He emphasized that disagreements should not be allowed to be a reason for burdening citizens beyond their capacity, whether in the region or other provinces.
The financial crisis is deepening social and family problems in Kurdistan.
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The financial crisis and delayed salary payments in Kurdistan have exacerbated social phenomena, including rising poverty and unemployment rates among citizens, negatively impacting social stability and heightening tensions.
The crisis has also led to a decline in citizens' purchasing power and an increase in debt, as well as an increase in family problems, divorce rates, and a reluctance to marry among young people.
For years, employees in the Kurdistan Region have suffered from persistent delays in salary payments, directly impacting their financial and living stability.
This delay is not just a financial issue; it has also become a major factor in increasing feelings of frustration and anger among employees, threatening to exacerbate social and family problems.
According to official statistics, the number of divorces in Duhok Governorate has more than fivefold increased over the past 17 years, from 404 cases in 2008 to 2,033 cases in 2024, despite the tribal nature of society, which still views divorce with absolute negative connotations.
The Judicial Council, affiliated with the Ministry of Justice in the Kurdistan Regional Government, revealed that 2024 saw the registration of more than 12,000 divorces across the region, home to 6.5 million people. This is a worrying indicator regarding the stability of family life in an environment that has never known such divorce rates.
Inability to Meet Demands
In this regard, Kurdish researcher and academic Ronak Abdullah confirms that the financial crisis has cast a shadow over Kurdish society in general, and has increased family problems in the Kurdistan Region.
Speaking to Al-Mada, she explained that “financial problems and delayed salary payments have led to an increase in family problems, as most men are unable to meet their families’ needs and are therefore forced to opt for divorce due to the lack of harmony resulting from recurring daily problems.”
She added, “Divorce is one of the problems, in addition to a significant reluctance to marry, as most young people do not have the money and are unable to fulfill family obligations and start a family. This is why we are seeing an increase in the rate of immigration to Europe, despite the risks involved.”
On the other hand, social affairs researcher Sirwan Kamal believes that the financial crisis has affected all aspects of the Kurdish family.
Speaking to Al-Mada, he pointed out that “many families have begun to reduce the number of children due to low income, and many problems have increased between spouses. If we conduct a quick comparison, we find that during the past two years, divorce cases have increased by more than 20%.”
He stated that “this increase is due to a lack of understanding between family members, and the end result leads to separation, because the financial crisis increases tension and nervousness, especially among men who are unable to meet the needs of their families. Due to the large debts they have, they resort to divorce.”
Official figures show that about a quarter of marriages in Kurdistan end in divorce. The governorates of Sulaymaniyah, Erbil, and Duhok together recorded 48,312 marriages, with Sulaymaniyah accounting for 38%, Erbil 36%, and Duhok 25%. Divorce cases reached 11,656, with Sulaymaniyah accounting for 49%, Erbil 33%, and Duhok 17%.
Psychological Stress and Class Disparities
In a related context, lawyer Ayat Khalil attributes the rise in family problems in the region to a number of reasons, the most important of which is the economic factor.
Speaking to Al-Mada, she explained that “the economic conditions in the region have contributed significantly to the rise in the rate of family disputes and divorce cases. Many husbands and wives face difficulty adapting their marital lives to the current living conditions, which are witnessing constant fluctuations.”
She pointed out that “there are cases of divorce cases that reach the courts in the region for reasons that seem “trivial,” and this shows the extent of the psychological pressure that Kurdish families are experiencing in light of the difficult financial circumstances.”
She added that “there is a class disparity in the standard of living among Kurdish families, and this has created a major social rift. Many families were not affected by the salary crisis, and thus problems within the same family have increased.”
The financial crisis in the Kurdistan Region, which has been ongoing for years, resulting in salary delays lasting weeks to months, has led to a deterioration in the living conditions of citizens in general, and employees in particular, and severe fluctuations in their lifestyles. Many are unable to secure their basic living needs, including food, healthcare, and education, forcing them to resort to borrowing and, with it, accumulating debt.
The Iraqi parliament sets the end date for its legislative term and comments on the postponement of elections.
Deputy Chairman of the Parliamentary Committee on Regions and Governorates, Jawad Al-Yasari, revealed on Tuesday that the House of Representatives will continue to hold its regular sessions until the end of the fifth parliamentary term, specifically on January 6, 2026.
The leftist told Shafaq News Agency, "The House of Representatives will resume its sessions next week, with three to four sessions," noting that "there are many laws that need to be read, discussed, and voted on in the House."
According to him, the current parliamentary term ends 45 days after the legislative elections, and he is able to hold sessions before and after the elections within the specified time period set by the Iraqi constitution.
In contrast, MP Firas Al-Maslamawi, of the Reconstruction and Development bloc, told the agency, "The legislative elections for the House of Representatives will be held on the scheduled date of November 11, 2025, and reports of a postponement are incorrect."
According to Al-Maslamawi, the federal government's mission is to hold and ensure the success of legislative elections on the scheduled date, and that political parties and political, economic and security factors indicate that they will be held on time.
The Iraqi Council of Ministers set November 11, 2025, as the date for the next parliamentary elections. The Electoral Commission announced that candidate campaigning will begin on October 8 and continue until the last 24 hours before the start of special voting. Approximately 30 million Iraqis out of a population of 46 million are eligible to participate in these elections.
Al-Sudani: The partnership between Iraq and the United States has achieved significant results and enhanced security.
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Prime Minister Mohammed Shia al-Sudani praised the partnership between Iraq and the United States on Tuesday, stressing that it has achieved significant results and contributed to enhancing security and stability.
The Prime Minister's Media Office said in a statement received by the Mail that "Al-Sudani received today the new commander of the US Central Command, Admiral Brad Cropper, and his accompanying delegation, in the presence of the Chargé d'Affaires of the US Embassy in Iraq."
He added, "The meeting discussed various security and military aspects between Iraq and the United States, progress made in the war on terrorism, and follow-up on the implementation of the joint declaration issued in September 2024, with commitment to all provisions of the agreement emphasized."
The office continued, "The meeting also emphasized the importance of continuing dialogue on joint security cooperation at the bilateral level between Iraq and the United States, as well as exchanging views on aspects of the bilateral partnership and ways to develop it."
According to the statement, the Prime Minister affirmed that "the partnership between Iraq and the United States has achieved significant results that serve the interests of both countries and have contributed to enhancing security and stability locally, regionally, and internationally."
For his part, Admiral Cooper praised "Iraq's role as a model of successful counterterrorism cooperation," reiterating his commitment to "building on the successes achieved, continuing security cooperation, and strengthening strategic communication in the coming period.
Government advisor: Iraq has achieved remarkable success in recovering funds from abroad.
The Prime Minister's financial advisor, Mazhar Mohammed Salih, outlined two paths for recovering Iraq's assets on Tuesday, including corruption funds from after 2003 and funds from the former regime. He emphasized that Iraq has achieved remarkable success in this area.
Saleh said: “Based on the Iraq Asset Recovery Fund Law No. (9) of 2012, which was amended by Law No. (7) of 2019, the objectives of the amendment were determined to expand the powers of the Fund’s management to enable it to recover smuggled funds as a result of corruption after 2003, in addition to encouraging those cooperating with the Fund by granting rewards to informants on smuggled funds, with an emphasis on strengthening international coordination by proposing agreements with countries and regional and international organizations in this regard and conducting mutual judicial assistance.”
He added, "An agreement for economic and technical cooperation between Iraq and relevant countries and institutions provides for a lever for cooperation in tracking and recovering our country's funds that have been smuggled abroad by various means, as well as enabling the fund to file lawsuits inside and outside Iraq against individuals involved in corruption and the smuggling of the country's funds."
He pointed out that "the fund is linked to the Council of Ministers and enjoys legal personality. It consists of a board of directors headed by the Chairman of the Integrity Commission, the Director General of the Recovery Department at the Integrity Commission, and representatives from the Ministries of Foreign Affairs, Oil, Finance, Justice, and Trade, the Central Bank of Iraq, the Federal Board of Supreme Audit, relevant security agencies, and the Supreme National Commission for Accountability and Justice."
He pointed out that "there are extensive procedural mechanisms in place, such as opening closed accounts inside and outside Iraq in the name of the Ministry of Finance to deposit revenues from recovered funds, the possibility of distributing recovered funds in four installments over a period not exceeding six months, and the use of experts from inside and outside Iraq and determining their remuneration."
Saleh explained that “there are two types of funds that are being pursued, confiscated, and legally tracked within the areas of international jurisdiction in two tracks, the first of which is the funds of the former regime: they have been dealt with since 2003 based on Security Council resolutions, especially Resolution 1483, and governmental/diplomatic channels with countries that have frozen assets. Parts were transferred to the Development Fund for Iraq in 2003-2004, and diplomatic pressure was later completed. This track is based primarily on countries’ commitments to UN resolutions.”
He added, "The second type is corruption funds after 2003. The main framework for this process is the United Nations Convention against Corruption (UNCAC), which Iraq ratified under Law No. 35 of 2007, with the work of the Integrity Commission and the Recovery Fund, and through memoranda of understanding and technical assistance (within initiatives such as StAR and bilateral partnerships that the Integrity Commission is working on diligently and effectively with the national and international judicial climates)."
Saleh emphasized that “the inventory of Iraq’s rights is ongoing and is announced from time to time, and represents a remarkable success for the Asset Recovery Commission,” noting that “there are many obstacles, including: the diversity of evidence systems and the criminalization of illicit enrichment, the complexities of bank secrecy and tax havens, as well as the slow pace of mutual legal assistance and cross-border procedures, and loopholes in tracking hidden money and identifying the real beneficiary, in addition to precedents of settlements that return part of the money in exchange for reduced penalties, and the accompanying controversy over deterrence, without neglecting the diversity of evidence systems, the complexities of bank secrecy and tax havens, and the limited statistics and unified rules for documenting the results.”
He pointed out that "it is not an easy legal and technical process, both local and international, especially the inventory of Iraqi properties and real estate abroad, including various buildings, which requires inventorying and monitoring them in direct and indirect cooperation with oversight agencies, including the Asset Recovery Fund."
Awaiting a date, a representative announces the completion of the procedures for interrogating Al-Sudani in Parliament.
MP Mustafa Al-Karawi announced on Tuesday that the parliamentary process for questioning Prime Minister Mohammed Shia al-Sudani over his failure to submit the federal budget has been completed.
Al-Karawi said in a Facebook post, " After I filed a lawsuit against the government with the Public Prosecution, which in turn referred the matter to the House of Representatives to assume its constitutional role, we followed the necessary legal and political steps, followed by submitting an oral question to the Minister of Finance within the House ."
He added, " We have completed the procedures for questioning the Prime Minister, along with our fellow representatives from the Central and Southern Fronts. We approached the Speaker of Parliament to set an official date for questioning the Prime Minister, due to his failure to submit the budget schedules and final accounts, in addition to the delay in the draft federal civil service law."
Economist: The 2025 budget faces declining oil prices and requires financial discipline.
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Economic advisor Mazhar Mohammed Saleh confirmed on Tuesday that the 2025 budget will undergo a comprehensive review due to the decline in global oil prices from the price set in the General Budget Law of $70 per barrel, stressing the need to rearrange financial priorities.
Saleh said in a statement to Al-Maalouma that “Federal Budget Law No. 13 of 2023 was prepared for three years, but recent changes, most notably the decline in oil prices, have imposed new financial challenges.”
He added that "oil revenues represent more than 90% of budget resources, and when they decline, it becomes necessary to focus on basic expenditures."
He pointed out that "priority will remain directed towards paying salaries, retirement and social care, in addition to service projects within the government programme," indicating that "the government is operating according to the principle of financial discipline, not austerity, by reducing unnecessary expenditures and resorting to temporary domestic borrowing when necessary."
Saleh pointed out that “Iraq is currently experiencing its third wave of oil price declines since 2014, following the war against ISIS and the coronavirus pandemic,” stressing that “there is financial flexibility and cooperation between fiscal and monetary policy to ensure the stability of public spending, which constitutes approximately 88% of national economic activity.”
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