An economist reveals urgent solutions to address the financial crisis and secure employee salaries.
Economic expert Ahmed Al-Tamimi revealed today, Saturday (January 31, 2026), a number of urgent solutions required to confront the financial crisis that Iraq is going through, and to ensure the regular disbursement of employee salaries.
Al-Tamimi said in a press statement that “the current financial crisis, which has directly impacted the delay in releasing employee salaries, requires immediate government measures and real structural reforms to prevent it from worsening in the coming period.”
He explained that “the delay in salaries is not only due to the decline in cash liquidity, but is the result of accumulations that have continued for years, due to the almost complete dependence on oil revenues, in contrast to the weak diversification of income sources and the decline in non-oil revenues.”
He added that “continuing this approach will increase pressure on the general budget, unless action is taken quickly to rearrange spending priorities, control operating expenses, and secure employee salaries as a top priority to maintain social stability.”
Al-Tamimi pointed out that “among the urgent solutions is activating the tools of fiscal policy in coordination with the Central Bank, improving liquidity management in government banks, as well as accelerating the reform of the tax system and expanding the collection base, in a way that does not burden those with limited income.”
He stressed that “confronting the current crisis requires a clear political will to combat waste and financial corruption, enhance transparency in the management of public funds, and support productive sectors, especially industry and agriculture, to alleviate pressure on the public treasury and create sustainable financial resources.”
Al-Tamimi concluded his remarks by stressing that “any further delay in addressing the issues will exacerbate the repercussions of the crisis,” calling on the government to take swift and well-considered decisions that ensure the regular disbursement of salaries and restore confidence in the state’s financial situation.
The country is currently experiencing increasing financial pressures that have affected the salaries of employees in a number of government institutions, amid challenges related to declining liquidity and the general budget's heavy reliance on oil revenues.
These developments come at a time when calls are mounting for urgent financial and structural reforms to ensure economic stability and secure the state’s basic obligations, foremost among them employee salaries.
Source: Al-Sudani, Al-Amiri, and Al-Mandalawi are visiting Erbil today, Sunday.
A high-level source in the Kurdistan Democratic Party revealed on Sunday (February 1, 2026) that there is intensive political activity to resolve the issue of the presidency, stressing adherence to the existing agreement with the Patriotic Union of Kurdistan and not going to break the understanding between the two parties.
The source told Baghdad Today in a special statement that “what has been agreed upon so far is not to cancel the existing agreement, and it is likely that tomorrow will witness a visit by Hadi al-Amiri, Prime Minister Mohammed Shia al-Sudani, and Acting Speaker of Parliament Mohsen al-Mandalawi to Erbil, to resolve the issue of the presidency with the Kurdistan Democratic Party, within the existing agreement with the Patriotic Union of Kurdistan.”
The source explained that "this visit is moving within the framework of coordination, which does not prefer that the Kurdish component bring two candidates, but rather one compromise candidate, in order to ensure ease in the appointment of the presidency and ease in completing the process of forming the next government," considering that "unifying the Kurdish position within the parliament will be a decisive factor in the session to elect the president and stabilize the political process in the next stage."
It is worth noting that the parliamentary session scheduled for today, Sunday (February 1, 2026), to elect the president of the republic is taking place amidst a clear political deadlock regarding the Kurdish issue. This comes after weeks of dispute between the Kurdistan Democratic Party (KDP) and the Patriotic Union of Kurdistan (PUK) over the presidential candidate, with multiple names still being put forward within the Kurdish political sphere. Meanwhile, the Coordination Framework prefers to resolve the issue with a single consensus candidate to ensure the stability of the new government formation process. This complexity, coupled with the nomination of Nouri al-Maliki for prime minister and escalating regional and international pressure, has transformed the presidency from a largely ceremonial position into an additional political hurdle requiring a comprehensive settlement among Shia, Kurdish, and Sunni forces alike.
Large US convoy enters Iraq
Social media sites circulated on Saturday (January 31, 2026) videos and pictures showing a large American military convoy entering Iraqi territory from the northern side bordering Syria, without knowing its final destination at the time of publishing this news.
According to what activists have documented, the convoy is still continuing its journey within Iraqi territory, amid differing interpretations regarding the nature of its movement and the base at which it will stop, while no official statements have yet been issued by government authorities or international coalition forces to clarify the details of these movements.
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Explosions rocked several Iranian cities: What are the reasons? Authorities explain
Iranian authorities announced that the sounds and explosions heard on Saturday in the cities of Qasr-e Shirin, Ahvaz, Bandar Abbas, and southern Tehran were due to different and unrelated causes.
The authorities confirmed that these explosions are not related to any exceptional security developments, and that the general situation is stable.
Local sources in Qasr-e Shirin, in the west of the country, reported that the loud sounds heard this morning were the result of pre-planned military maneuvers and exercises carried out by the Islamic Republic of Iran Army, as part of periodic programs aimed at raising the level of combat readiness.
She confirmed that these exercises ended according to the schedule, and that the situation in the city is completely normal and does not warrant concern.
In the southwestern city of Ahvaz, the head of the city's fire and safety services organization announced that an explosion occurred inside a residential complex in the Kianshahr area, as a result of a gas leak, killing four people.
He explained that emergency teams rushed immediately to the scene of the incident to control it and secure the area, and the competent authorities began investigating its circumstances.
In Bandar Abbas, the capital of Hormozgan province in southern Iran, the province's Director General of Crisis Management, Mehrdad Hassanzadeh, explained that the loud noise reported in some parts of the city was caused by an incident inside a residential building on Moallem Street, stressing that the incident had no security implications.
He added that ambulance and fire crews began relief work immediately upon receiving the report.
The authorities urged citizens not to be swayed by rumors and to obtain information from official sources, stressing that the safety of citizens is a priority and that the relevant authorities are monitoring all incidents in accordance with the approved legal and procedural frameworks.
Iranian authorities have denied any security or military incidents in the cities of Parand and Rabat Karim, southwest of Tehran, after reports circulated of explosions being heard and heavy smoke seen in some areas.
The administrative official of Rabat Karim, Reza Aghaali Khani, explained in an official statement that the rising smoke was not caused by any security or military incident, indicating that its source was due to fires that broke out in dry reed plants on the banks of the Shur River.
The official added that such fires sometimes occur as a result of negligence or the actions of some unknown people, and that the authorities are closely monitoring the situation and taking precautionary measures to prevent the recurrence of such fires and to protect the environment.
Meanwhile, the public relations department of Iran’s Islamic Revolutionary Guard Corps denied on Saturday claims of the assassination of naval commander Admiral Ali Reza Tangsiri.
In the same context, the Revolutionary Guard's naval force denied what was being circulated regarding its headquarters in Hormozgan province being attacked by a drone, stressing that none of the force's buildings were destroyed, and that the news published in this context is baseless.
The Public Relations Department of the Revolutionary Guard explained that the methodology of spreading rumors followed by the “Terror Alarm” account in security and military issues has known precedents, considering that the aforementioned Israeli account works as an operational arm of the Mossad, within the framework of psychological warfare.
She pointed out that the same account had previously claimed the assassination of Quds Force commander Brigadier General Ismail Qaani, which proved to be false.
The Guard noted that “given the psychological operation being carried out by Trump, the dissemination of assassination rumors by Terror Alarm takes on greater significance.”
This comes amid the US threat to launch an attack on Iran, which Tehran insists will be met with an unprecedented response.
Zero hour between America and Iran
—aircraft carriers, regional mobilization, and accelerated mediation efforts—the landscape is open to either a forced settlement or a confrontation that could shake global stability. Who will ultimately decide the fate of the Middle East: war or diplomacy?
Hours on the brink of explosion: America activates its secret plan and Iran threatens | Report
This mobilization coincides with mysterious explosions that rocked the strategic city of Bandar Abbas, fueling speculation about the commencement of covert field operations.
In response, Tehran has threatened to ignite the entire region in retaliation for any American action, as diplomatic opportunities dwindle at the last minute.
All these developments come amid a direct threat from the Iranian army, which revealed military movements that will affect all countries in the region, which will face a state of insecurity if the United States takes military action against Iran.
At the same time, amid these critical hours, videos have spread showing several explosions in the southern Iranian city of Bandar Abbas. Reports emerged claiming the targeting of a high-ranking commander in the Iranian Revolutionary Guard. In response, the Iranian news agency denied that any figure in the Revolutionary Guard was targeted.
Meanwhile, experts interpret the timing of the explosion as a field development that suggests the possibility of covert military activity. It could be preparation for an ongoing secret operation or an internal Iranian targeting. Reports suggest this may indicate an escalation in disputes between the Revolutionary Guard and the Iranian army, or the possibility of several assassinations accelerating events. This brings us closer to knowing the fate of the Iranian scene and the American military buildup, which is now separated only by failed efforts to hold negotiations in the nick of time.
A senior Iranian government official: The security forces have been given full powers and a "blank check" to kill protesters.
Whose candidate is Maliki?
Trump has removed the cover of American occupation from Maliki, and the pressing question now is: Who can stand behind Maliki in his move to run for the presidency of the Council of Ministers of occupied Iraq?Al-Maliki had nominated himself again, imagining that the calculations that led to his initial nomination and rise to the premiership to serve the occupation between 2006 and 2014 still held true, allowing him to extend his service to the occupation. Having first obtained the position in 2006 through an American-Iranian agreement—a role he continued for a second time—he based his calculations now on that same foundation, believing he could repeat the same game under the current circumstances.
He imagined he could present himself to America as the guarantor of control over ISIS elements transferred from Syria to Iraq—given his abhorrent sectarian record and his management of a secret prison during his rule—and as the one capable of curbing the activities of Iranian militias in Iraq, since he had implemented the occupation's decision to form and support them, opened Iraq's coffers to them, and was close to Iran, capable of reaching understandings with it regarding Iraq. Perhaps he interpreted current events as showing himself to be Trump's ideal candidate to govern Iraq, based on the prevailing narrative about Trump's supposed fondness for rulers who oppress their people and his supposed non-interference in the internal affairs of other countries.
It seems Maliki convinced himself that the field was now clear for him.
The militia leaders, who had repeatedly fled to Iran whenever there was talk of a potential American strike, had faded from the scene, and Sadr had disappeared from the electoral and political landscape.
Based on these calculations, he maneuvered and employed every tactic to secure the nomination of the Iranian-backed militias' coordinating body. Just as he believed he was on the verge of winning a parliamentary vote, he was dealt a blow by Trump.
Trump shocked him by stating that Iraq had descended into poverty and chaos during Maliki's premiership, that America should not allow a repeat of this, that Maliki held a hardline political and ideological position, and that the United States would cease its aid to Iraq if he were elected, asserting that Iraq would have no chance of success, prosperity, or freedom without American involvement.
Trump's remarks came at a truly disastrous time, just days before the start of the power-sharing process following the presidential election. It was striking that Trump's statements culminated in numerous American efforts to prevent Maliki from assuming the premiership and to halt the process of selecting the prime minister through the militia coordination council.
Trump's statements reinforced numerous contacts made by American officials, including the Secretary of State and Special Envoy Tom Barrack, with various Iraqi parties, all conveying the same message.
Most importantly, Trump's words served as a reminder to people everywhere—regardless of any talk of prosperity and freedom—of Maliki's bitter history and criminal past during his years in power. Maliki is the prime suspect in the secret prison scandal, where some 35,000 Iraqis were imprisoned under his personal supervision. He is also accused of killing 150 peaceful protesters in the Hawija massacre and another 80 in the Musab bin Umair Mosque massacre. He is accused of imprisoning tens of thousands of young Iraqis, carrying out executions based on identity and sect, and displacing approximately one million Sunni citizens, among other things.
Maliki responded to Trump with empty words, but he was careful to control his tongue, knowing that Trump is the one who governs Iraq and that he is capable of opening files on his corruption. Forbes magazine estimated his wealth at about $66 billion, and he is also accused of misappropriating another $27 billion from the Iraqi budget.
The question then arises: who could possibly be behind al-Maliki's nomination after the US withdrew its support?
The answer is: no one.
It's also worth noting that the coordinating body uniting Iranian-backed militias in Iraq did not unanimously endorse him, and that other forces accepted his nomination based on the assessment that he was a compromise candidate acceptable to both the US and Iran. In fact, it could be argued that those who were close to securing the position themselves withdrew their candidacies and presented al-Maliki, essentially pushing him to the brink of collapse.
It should also be noted that al-Sistani himself had previously ousted al-Maliki when he attempted a third term, proposing Haider al-Abadi as his replacement.
Al-Maliki's story is over, and his name has been added to the same list as Karzai in Afghanistan, Mazloum Abdi in Syria, and others like them.
First Independence Bank, Detroit, Michigan, Assumes All Deposits of Metropolitan Capital Bank & Trust, Chicago, Illinois
WASHINGTON — Metropolitan Capital Bank & Trust was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with First Independence Bank to assume substantially all deposits of Metropolitan Capital Bank & Trust.
Metropolitan Capital Bank & Trust’s sole office will reopen as a branch of First Independence Bank during its normal business hours on Monday, February 2, 2026. Depositors of Metropolitan Capital Bank & Trust will automatically become depositors of First Independence Bank. The deposits assumed by First Independence Bank will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship.
Customers of Metropolitan Capital Bank & Trust will have immediate access to their deposits. Over the weekend, they can access their deposits by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
Customers with questions should contact the FDIC toll-free at 1-866-314-1744 or visit the FDIC’s website. This phone number will be operational this evening until 9:00 p.m., Central Time (CT); on Saturday from 9:00 a.m. to 6:00 p.m., CT; on Sunday from noon to 6:00 p.m., CT; Monday from 8:00 a.m. to 8:00 p.m., CT; and thereafter from 9:00 a.m. to 5:00 p.m., CT.
As of September 30, 2025, Metropolitan Capital Bank & Trust reported total assets of $261.1 million and total deposits of $212.1 million. First Independence Bank agreed to assume substantially all deposits at the time of closing. It will also purchase approximately $251 million of the failed bank’s assets. The FDIC will retain the remaining assets for later disposition.
The FDIC preliminarily estimates that the failure will cost its Deposit Insurance Fund (DIF) about $19.7 million. The estimate will change over time as retained assets are sold.
Metropolitan Capital Bank & Trust is the first bank to fail in the nation this year.
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