TRUMP'S PARTY BACKS IRAQ'S WEAPONS PLAN! 🇮🇶

Trump's party welcomes al-Zaidi's movement to disarm Iraqi factions

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The US Republican Party, represented by President Donald Trump, welcomed on Thursday the decisions announced by Iraqi Prime Minister Ali al-Zaidi regarding restricting weapons to the state, considering them an important step in the path of strengthening Iraq's sovereignty and consolidating the authority of its constitutional institutions.

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Party member Malik Francisco told Shafaq News Agency that Washington views these steps positively, noting that "Iraq's long-term stability requires that the state be the only entity authorized to carry and use weapons within legal frameworks."

Francisco added that his country's support comes in the context of supporting efforts aimed at strengthening Iraqi state institutions and promoting the rule of law.

Washington believes that addressing the issue of weapons outside the framework of the state represents a real test of the Iraqi government’s ability to impose its authority and build effective security institutions, which contributes to protecting internal stability and limiting any external interference.

The US administration also believes that having a central authority capable of implementing its security decisions enhances the chances of achieving political and security stability in the country.

This welcome comes within the framework of shared interests between Baghdad and Washington, as the United States affirms that the stability of Iraq is a fundamental element in the stability of the entire region.

US estimates indicate that consolidating the state’s monopoly on weapons would have a positive impact on the economic environment, by improving the investment climate and enhancing the confidence of foreign companies in the Iraqi market.

At the same time, American circles realize that the issue of restricting weapons is linked to complex political and social balances, which makes its implementation require broad national consensus and well-thought-out steps that ensure the achievement of the desired goals without creating internal tensions.

Observers emphasize that the success of these decisions will depend on the extent to which the Iraqi government can translate them into practical measures that enhance citizens’ trust in the state and enshrine the principle of its monopoly on force, as it is one of the most important pillars for building an independent state capable of managing its affairs efficiently and competently.

Earlier today, the head of the Security Media Cell, Lieutenant General Saad Maan, announced  the launch of  the first practical steps to integrate armed factions into the official security system, through the handover of the headquarters and weapons of the “Saraya al-Salam” in the city of Samarra, in response to the initiative launched by the leader of the Shiite National Movement, Muqtada al-Sadr.

The coordinating framework that brings together the ruling Shiite forces in Iraq had authorized Prime Minister Ali al-Zubaidi to take decisions and measures to preserve the country’s higher interests, while supporting the project to restrict weapons to the state and to separate the Popular Mobilization Forces from political, partisan and social frameworks, in a position that was practically considered a political cover for al-Zubaidi to act on the issue of the factions.

This political movement was strengthened after the leader of the Shiite National Movement, Muqtada al-Sadr, announced the disassociation of the “Peace Brigades” from the movement and their affiliation with the state, and called on the rest of the factions to move away from partisan and sectarian frameworks and join under the authority of the government, a step that al-Zaydi welcomed and called on the other factions to follow.

Asaib Ahl al-Haq also followed this path, as it announced the formation of a central committee to begin procedures for disengaging from the Popular Mobilization Forces formations, inventorying personnel, weapons and vehicles, and organizing mechanisms for liaising with the Commander-in-Chief of the Armed Forces. Then, the Imam Ali Brigades announced a similar decision that includes inventory, handover, transfer and reintegration of affiliates within state institutions.

However, the file still faces reservations and internal opposition, as sources told Shafaq News Agency that there is a division within the framework forces regarding  an American proposal  based on establishing service and investment projects inside Iraq, implemented by American companies, in exchange for proceeding with the file of restricting weapons to the state and handing over weapons to the factions.

The opposition is most clearly expressed by the Hezbollah Brigades, which are holding on to their weapons and refuse to discuss the issue of disarming or surrendering them under American pressure. The Brigades have proposed a counter-approach based on buying the factions’ weapons instead of surrendering them or forcibly disarming them. 

Middle East: What awaits Iraqi factions under the tutelage of "America's man for dirty work"?

 

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The Middle East Monitor network revealed on Wednesday (June 3, 2026) a "major shift" in US policy towards Iraq, declaring that the partnership between the two countries has "effectively ended" and has turned into a "policy of axes".

The network said in a report published and translated by "Baghdad Today" that "Tom Barrack has the title of 'dirty work man' within the corridors of the White House, and he is one of the few figures capable of convincing US President Donald Trump to take on the task of dismantling complex files."

She added: "The factions and the Iraqi government believe that American policy varies according to the mandates given to mid-level diplomatic staff, and these factions have exploited name changes as moral victories, but this does not apply to Tom Barrack."

She pointed out that "the man who carries out the dirty work of American foreign policy has now taken over the Iraq file, which represents a qualitative shift in the United States' dealings with Iraq, as it has moved from treating it as a partner to treating it as an axis within the existing presence linked to Iran, then Baghdad, and even Beirut."

The network also indicated that Tom Barak "does not practice soft politics in any way, but rather calls things by their names, insults the other side openly, and speaks without silk gloves," stressing that "Barak pushed for merging the Iraqi file with the files of Iran, Lebanon, and Turkey instead of treating it as a separate file."

The network said that “the appointment of Barak as the official in charge of the Iraqi file confirms the approval of the American administration of his proposal regarding treating Iraq as part of the (Iranian axis),” explaining that “the focus inside Iraq on Barak’s personality hides something deeper behind it, that Washington no longer sees Iraq as a political partner but rather as a damaged security file, and therefore Washington’s dealings with Iraq have moved with the appointment of Barak from negotiation to complete surgical removal,” as it described it.

The network also confirmed that the matter is "more evident to the Iraqi factions, who have come to realize that the American decision to reduce their influence inside Iraq is no longer a personal desire of an American official, but rather an ongoing institutional choice, and Barak will be the instrument that implements it."

The report also confirmed that "Barak's arrival is no longer a change in the personalities dealing with the Iraqi file, but rather a declaration of the beginning of a new phase in which decisions are based on their impact on breaking the deadlock inside Iraq instead of satisfying local parties."

The network concluded its report by emphasizing that Iraq “has entered a new phase without any niceties. Washington no longer sees Baghdad as a file for relations but a file for decision-making,” stressing that “Washington’s patience has run out with the dual powers within Iraq and the state’s thieves, and the coming language will not be diplomatic but direct, clear, revealing, and perhaps harmful,” as it described it.

The network also noted that "the era of gray understanding has ended in Iraq now and the era of decisive decisions has begun."

Source of the report:  link at the top

 

 

"Al-Maalomah" reveals the files of Trump's envoy to Iraq

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The director of the Iraqi Media Center in Washington, Nizar Haider ,

revealed on Wednesday that President Trump's envoy, Tom Barrack, will discuss with Prime Minister Ali al-Zaidi the corruption files of officials in previous governments, carrying the names of those involved in stealing Iraqi funds between 2003 and 2026, most notably former Prime Minister Mohammed Shia al-Sudani.

Haider told the Information Agency, "The information we received from the American decision-making source indicates that President Trump's envoy, Tom Barrack, carried a file containing the names of 1,000 political figures from Shia, Sunni, Kurdish, Christian, and Yazidi parties involved in stealing huge sums of money from the state budget, with former Prime Minister Mohammed Shia al-Sudani at the top of the list."

He added, "Barrack carries conclusive evidence to charge 1,000 figures who took turns running the country and amassed enormous wealth through illicit means, exploiting the critical conditions Iraq witnessed."

The Minister of Finance affirms the continuation of economic reforms and the strengthening of the partnership with the World Bank.

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During his meeting with the World Bank representative to Iraq, Emmanuel Salinas Munoz, Finance Minister Faleh Sari affirmed the ministry's commitment to implementing financial and economic reform programs, in line with the government program's priorities and to enhance the efficiency of public resource management.

 

Sari indicated that the ministry is determined during the next phase to adopt reform paths based on developing the financial and banking environment, expanding the application of electronic systems in the tax and customs sectors, in addition to supporting non-oil revenues and simplifying procedures in a way that contributes to improving institutional performance and stimulating economic activity.

 

The two sides reviewed mechanisms for enhancing technical and institutional cooperation with the World Bank to support development and infrastructure projects, empower the private sector, and benefit from international expertise in implementing reforms.

 

For his part, Salinas Muñoz affirmed the bank’s continued support for the reform programs implemented by the Iraqi government, which contribute to strengthening economic development and raising the efficiency of financial institutions.

 

The Foreign Minister calls on the European Union to launch a political initiative to end the war.

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Foreign Minister Fuad Hussein called on the European Union on Thursday to launch a political initiative to end the war.

A statement from the Ministry of Foreign Affairs, received by the Iraqi News Agency (INA), stated that "Foreign Minister Fuad Hussein received a phone call from Irish Foreign Minister Helen McEntee, during which she congratulated Fuad Hussein on the renewal of confidence in him and his assumption of the duties of the Ministry of Foreign Affairs for a new term."

The statement added that "during the call, Iraqi-Irish relations and ways to develop and enhance joint cooperation between the two countries were discussed, in addition to discussing regional and international developments and the repercussions of the ongoing war in the region on the political and economic situation."

According to the statement, Hussein reviewed "the direct effects of the war on Iraq, particularly in the economic and financial aspects," noting "the negative repercussions it had on trade, energy, and economic stability in the region."

The statement indicated that "the two sides discussed the issue of a ceasefire, the recent attacks in the Gulf region, and the impact of the continued war on the global economy and energy markets."

According to the statement, both sides stressed "the importance of intensifying international efforts aimed at stopping the war and preventing its expansion, in order to contribute to strengthening regional and international security and stability."

According to the statement, Hussein put forward "the idea that the European Union should launch a political initiative aimed at ending the war," noting that he "discussed this idea with his Dutch counterpart, and intends to continue consultations on it with a number of European foreign ministers in the coming period."

Hussein explained that "Iraq will work on developing this initiative and presenting it during the upcoming meeting to be held in the Jordanian capital, Amman, this month, with the participation of the foreign ministers of the Arab countries and their European counterparts."

He pointed out that "Europe has the capabilities that qualify it to play an active role in this field, given its relations and contacts with the various capitals concerned and affected by the war," stressing that "merely monitoring the situation is no longer an acceptable option in light of the widening repercussions of the crisis."

Hussein added, according to the statement, that “Iraq is among the countries most affected by the continuation of the war, especially on the economic and financial levels, as a result of the effects that have affected the energy sector and oil export capabilities,” noting that “European countries are also affected by the repercussions of the crisis, as the rise in oil prices has contributed to an increase in inflation rates and a rise in the costs of agricultural and industrial products in European markets.”

Hussein confirmed that "Iraq will present its vision regarding the role that Europe can play in contributing to ending the war and achieving stability during the upcoming Amman meeting."

Hussein expressed his "thanks and appreciation to Helen McEntee for her call and the congratulatory sentiments she expressed."

MP: The coordination framework supports holding an extraordinary session to complete the vote on the government.

 

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On Thursday, June 4, 2026, MP Ibtisam Al-Hilali, from the State of Law Coalition, revealed a political movement led by the Coordination Framework forces to hold an extraordinary session of the House of Representatives to complete the vote on the vacant ministries within the cabinet of Prime Minister Ali Al-Zidi’s government.

Al-Hilali told the official agency, as reported by Baghdad Today, that: “There is a political movement, confirmation, and insistence by the forces of the Coordination Framework to hold an extraordinary session to complete the vote on the ministerial cabinet of Prime Minister Ali al-Zidi’s government.”

She added that "the last meeting of the coordination framework, which was held in the presence of Prime Minister Ali al-Zidi, witnessed the attendees confirming the completion of the vote on the vacant ministries during the coming period."

Al-Hilali pointed to "political movements and calls to hold an extraordinary session of the House of Representatives during the coming week, with the aim of completing the vote on Al-Zidi's government."

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"We have turned a new page"

Kurdistan offers Baghdad “more electricity”... Masrour Barzani welcomes the disarmament of factions

 

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Following reports that the Kurdistan Region is currently supplying Iraq with about 2,000 megawatts of electricity due to a severe crisis amid the war, the region's Prime Minister Masrour Barzani said that it is possible to send more and provide greater assistance to the federal government if gas production develops. He also praised Baghdad's steps in the field of weapons and the importance of the rule of law as a guarantor of the country's stability, stressing the need for all parties to abide by the decisions of the federal government, and confirming that he is witnessing a "new chapter" in the relations between Baghdad and Erbil.

The most prominent statement made by Masrour Barzani to the media, as reported by Network 964 :

The issue of increasing gas production in order to raise electricity generation will enable us to send more electricity to Iraq. Yes, we have worked on that, and we can provide greater assistance to the federal government in providing electricity.

A new chapter between Baghdad and Erbil

Our visit to Baghdad was certainly to support Prime Minister Ali al-Zubaidi, and to do our utmost not only to normalize our relations, but to move them forward. What we heard from him and the political parties was encouraging; they want to turn over a new leaf and move towards resolving the existing problems. In turn, we emphasized the implementation of the constitutional rights of the Kurdistan Region and the financial entitlements of the people of Kurdistan. These are matters that require work and follow-up.

Oil and salaries

Yesterday, we sent a delegation from the Kurdistan Regional Government to seriously discuss the oil and salary files with the federal government. This came after our conversation with the Prime Minister, who welcomed the idea that we could help Iraq increase oil production. As you know, the route for exporting oil through the Strait of Hormuz has become limited or almost non-existent. Therefore, Iraq and the world in general have been affected by this ongoing war in the region. In order for us, as the Kurdistan Region, to present an initiative and play an effective and good role in helping the Iraqi government's economy, we requested that a delegation of oil companies accompany the regional government to Baghdad. They held meetings there with the Prime Minister and the Iraqi delegation and spoke seriously.

The companies are requesting guarantees to resume production and increase oil exports through the Kurdistan Region. We agree with this view and support this step. They are scheduled to discuss some details early next week, and we expect the companies to resume their operations. This will, of course, solve part of the problem and will not replace all the oil that was exported from southern Iraq. However, it is the Kurdistan Region's responsibility to support the Iraqi economy, assist the Prime Minister, and maintain a healthy relationship between the Kurdistan Region and Iraq. We have made our efforts and are playing our part in this regard.

Handing over weapons to the factions

Any country where the rule of law prevails will undoubtedly be more stable, and all parties must abide by government decisions and legal rulings. Therefore, I believe that any step taken from this standpoint will be in the interest of the Iraqi people and the Iraqi government.

The ASYCUDA system and cross-border trade

The truth is that in the past—whether by decision or by mere coincidence—there was a serious attempt to weaken the economy of the Kurdistan Region; this is what some believed, but we sought by all means to protect the constitutional rights of the people of Kurdistan as a federal entity, and to ensure that the relationship between the regional government and the Baghdad government is based on constitutional articles and applicable laws.

Therefore, we exerted every effort to finalize the ASYCUDA agreement. Previously, we reached some preliminary agreements with the former government, and only the signing of the agreement remained. However, they stated that we were a caretaker government and that we must wait until the election results were announced and the next government was formed. Thus, when our delegation met yesterday, they reiterated the same position: that the preliminary agreement we had previously prepared would serve as the basis for the final agreement on the ASYCUDA system and the normalization of trade at the region's border crossings with neighboring countries, particularly the Ibrahim Khalil border crossing.

Serious efforts are underway, and this matter will be discussed thoroughly at the beginning of next week. We hope, God willing, that they will reach a conclusion. Here, I would like to clarify something: some people often speak and try to paint a completely unhealthy picture for the public, suggesting that there is immense pressure and that the Kurdistan Region is heading towards a suffocating crisis. I want to say to the people of Kurdistan sincerely: do not worry. The economic situation of the entire region is affected by this war; this is the reality now. However, serious efforts are being made to find a solution. We are part of addressing this situation, and I have great hope, God willing, that we will reach an agreement with the current Baghdad government to normalize trade at our border crossings. The Kurdistan Region has its own unique circumstances, and it is possible for relations with all neighboring countries to improve, but nothing can replace the Kurdistan Region.

Payroll file

We received assurances regarding salaries from Prime Minister al-Zaydi and other political parties. They say that the issue of salaries will not be mixed with any other issue, even if we have differences of opinion on some administrative matters and even if we do not reach an agreement, the issue of salaries will not be linked to anything else.

The IMF lowers its forecast for the Iraqi economy, predicting a 6.8% contraction in 2026.

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The International Monetary Fund’s April 2026 Regional Economic Outlook report showed a reduction in the forecast for Iraq’s economic growth this year, predicting a contraction of the country’s real GDP by 6.8%, compared to a slight decline of 0.4% in 2025.

According to the real GDP growth table included in the report, which was reviewed by Shafaq News Agency, the Fund expects the Iraqi economy to experience a strong recovery during 2027, recording growth of 11.3%, before stabilizing at 3.4% in 2030, and 3.5% in 2031.

The report noted that Iraq’s outlook has been revised sharply since October 2025, with growth forecasts for 2026 revised down by 10.4 percentage points, one of the largest negative revisions among oil-producing countries in the Middle East and North Africa region.

Iraq was among the group of oil-exporting countries outside the Gulf Cooperation Council, whose economies the IMF predicted would shrink by 3.1% in 2026, before returning to positive growth of 4.8% in 2027.

The IMF report concluded that the Middle East and North Africa region as a whole is expected to grow by 1.1% in 2026, rising to 4.8% in 2027, amid the continued effects of energy market volatility and regional geopolitical and economic tensions.

America intensifies naval pressure, and Iran threatens new conditions.

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The signs of tension and friction between the United States and Iran continue despite the ceasefire, while the exchange of statements reveals the continuation of disagreements over the terms of any potential agreement, amid Tehran’s insistence on obtaining a portion of its frozen funds, in contrast to Washington’s insistence on continuing economic and military pressure.

In the latest Iranian statements, an advisor to the Iranian Supreme Leader said that US President Donald Trump is trying to push Tehran to accept American conditions, while he does not present a clear position on Iranian demands, reflecting the continued ambiguity surrounding the course of the ongoing negotiations between the two sides.

In the same context, the Iranian Deputy Foreign Minister stressed that his country does not consider any document or understanding final unless it includes Iranian observations and interests, noting Tehran’s insistence on the condition of the immediate release of 50 percent of its frozen assets as soon as the memorandum of understanding is signed with Washington.

This demand reflects the extent of the complexities that still face the negotiating process, as Iran considers the easing of financial restrictions to be a real test of the seriousness of the United States, while Washington continues to use economic pressure tools as a key bargaining chip in the negotiations.

On the American side, an American official confirmed that a ceasefire with Iran does not mean an end to the military and economic measures imposed on it, explaining that American forces will continue to protect their interests and forces in the region, in addition to continuing to implement the embargo imposed on Iranian ports.

He added that navigation through the Strait of Hormuz is still ongoing, noting that about a thousand ships have crossed since the ceasefire began on April 8, with the decision to cross left to companies and commercial vessels according to their security and economic assessments.

In a sign of continued naval pressure, the US Central Command announced that it had diverted 127 commercial vessels bound for Iran, as well as disabling six ships it described as violating blockade procedures, while allowing 36 ships carrying humanitarian aid to pass through.

An economist reveals the reasons for the dollar's fluctuations.

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 Economic expert Salah Nouri attributed the rise in the dollar exchange rate in the parallel market to structural factors related to the nature of commercial demand in the local market.

 

Nouri explained to Al-Furat News Agency that "the rise in the price of the dollar comes as a result of the increasing demand for it in order to finance commercial imports that take place outside the official platform of the Central Bank of Iraq," noting that "a considerable percentage of traders still lack the readiness or ability to meet the requirements of the Central Bank to complete import operations through official channels."

He added that Iraq, as a country that relies heavily on imports of various goods, will continue to see a constant demand for foreign currency, whether through the Central Bank platform or through the parallel market, which keeps the challenges related to exchange rate stability in place as long as these import patterns continue.

The Association of Iraqi Private Banks participates in the Arab-European Summit in Paris

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The Association of Iraqi Private Banks participated today, Thursday, in the Arab-European Banking and Economic Summit 2026, hosted by the French capital, Paris, with a delegation headed by the Association’s President, Wadih Al-Hanzal.

The association stated in a statement received by Kalima News that its participation came within the framework of the summit organized by the Union of Arab Banks and sponsored by French President Emmanuel Macron, with the aim of discussing the most prominent global financial challenges and strengthening economic partnerships.

The statement added that the Iraqi delegation reviewed before the participants the role played by the Iraqi government in managing economic challenges and moving towards achieving sustainable development, in addition to the efforts made to reform the banking sector.

During his participation, Al-Hanzal stressed that the formation of the new Iraqi government headed by Ali Al-Zidi represents an important step in a stage that requires an advanced economic vision, noting that the emergence of its leadership from the private and banking sector environment enhances the chances of adopting modern management methods based on efficiency and speed of decision-making.

He explained that the Central Bank of Iraq is leading a program of structural reforms in the banking sector, which included raising the capital of banks, re-evaluating the branches of foreign banks, and issuing instructions specific to digital banks.

He pointed out that the efforts of digital transformation and financial inclusion resulted in achieving positive indicators, including exceeding the number of bank accounts to 15 million, issuing more than 20 million bank cards, as well as deploying about 179,000 electronic payment devices, while electronic government levies exceeded 15 trillion dinars.

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The Plan To Save Baghdad's Economy 🇮🇶💵

The Plan To Save Baghdad's Economy 🇮🇶💵

Financial expert identifies tools to "save Baghdad" from the liquidity crisis - Urgent

 

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Iraq's public finances are under increasing pressure due to declining oil revenues and the continued near-total reliance on crude oil as the primary source of budget funding. This has impacted liquidity levels and the government's ability to meet its growing obligations. Amid these challenges, economic calls are mounting for a review of the public revenue structure, expanding the tax base from non-oil sectors, reforming financial collection systems, combating corruption, and reducing waste in government spending. These measures aim to enhance financial stability and mitigate the severity of recurring crises. Financial expert Saleh Rashid outlined several tools Baghdad could adopt to successfully manage the liquidity crisis, given the alarming decline in the country's treasury revenues for the third consecutive month.

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Rashid told Baghdad Today that “Baghdad is facing a major, sensitive and complex financial crisis, especially after losing an important part of its crude oil export revenues as a result of the disturbances in the Strait of Hormuz, which has made Iraq one of the most affected countries in the region, as it depends on oil for more than 90% of its resources.”

He explained that "the government has limited options for addressing the financial gap, foremost among them developing non-oil revenues, which has multiple dimensions, most notably the issue of collecting money from services provided to citizens, as this issue is witnessing high levels of corruption that require a comprehensive review."

He added that "the introduction of modern technologies in collecting money, especially in the electricity and water sectors, has become an urgent necessity, provided that the collection is fair and equitable, takes into account the conditions of the poor and the simple, and contributes to reducing losses, as well as developing the collection of the rest of the other services."

Rashid pointed out that “warnings against relying on oil as a primary resource for Iraq’s treasury were issued more than 30 years ago, while many oil-producing countries, especially in the Arabian Gulf, realized the danger of this approach and began to change it, but successive governments in Baghdad did not give this issue sufficient attention.”

He added that "the picture today is clearer than ever before, which necessitates changing the economic view of oil and moving to a diversified economy in which oil is a part but not the whole," stressing "the importance of controlling the pace of spending in state institutions and strengthening efforts to combat corruption."

He concluded by saying: "A large part of Iraq's wealth is being drained due to corruption, and addressing this issue is a fundamental step for any real financial or economic reform."

The Iraqi economy is heavily dependent on crude oil export revenues, which constitute more than 90% of the country's resources, making it highly vulnerable to fluctuations in oil prices and geopolitical conditions in the region.

In recent years, warnings about the dangers of this unilateral reliance have increased, especially with the recurrence of financial crises and delays in paying salaries and government obligations at certain times.

Banking scandal: Arab Bank obtains local license with nearly 90% foreign ownership

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The Central Bank of Iraq ’s granting of a license to establish the Arab Bank of Iraq as a local bank raises serious legal and regulatory questions, after the declared ownership data showed that foreign entities own approximately 90% of its capital, compared to a limited share not exceeding 10% for local and international investors.

 

According to available data on the ownership structure, Arab Bank holds the largest stake at 60%, while Saudi Arabia's Arab National Bank owns 20%, and the Saudi Al-Muhaidib Group , through a subsidiary, owns 10%. The remaining 10% is distributed among local and international investors, with insufficient clarity regarding the identity or nationalities of these investors, or the actual size of the Iraqi stake among them.

The issue is not about foreign investors entering the Iraqi banking sector, as that is legitimate if done in accordance with the law and regulatory controls. The fundamental problem lies in granting a local banking license to an entity almost entirely controlled by foreign ownership, which raises a direct question about the legal basis upon which the Central Bank granted this license.

 

In the context of banking licensing, the legal designation alone is insufficient to deem a bank local. The key factors are capital ownership, control, and the ability to influence administrative and strategic decisions. When a single foreign entity, namely Arab Bank, owns 60% of the capital, it effectively controls the bank. Adding the 20% stake held by Saudi Arabia's Arab National Bank and the 10% stake held by the Al-Muhaidib Group brings foreign ownership to approximately 90%.

Here the question arises for the Central Bank: Are we dealing with a truly local Iraqi bank, or with a foreign-controlled bank that has acquired a local status by administrative decision?

The danger of the file lies in the fact that the Central Bank is not a formal registration body, but rather the supervisory authority responsible for examining incorporation applications, verifying ownership percentages, sources of funds, eligible holdings, true beneficiaries, and the extent to which the bank’s structure complies with the Banking Law and applicable instructions.

Accordingly, granting a license with this structure cannot be treated as a normal administrative procedure, but rather as a decision that requires a clear legal interpretation, especially if the law distinguishes between local and foreign banks, or places restrictions on the size of foreign ownership in locally licensed banks.

Al-Mustaqilla poses direct questions to the Central Bank of Iraq: What legal text allowed the granting of a license to a local bank for an entity in which foreign entities own about 90% of its capital? Did the legal department at the Central Bank prepare a written opinion authorizing this structure? Was the impact of the Arab Bank’s 60% stake on effective control examined? Who are the investors within the remaining 10% stake? Is it a purely Iraqi stake or a mixed one as the general wording suggests?

This issue doesn't just affect one bank; it impacts public confidence in Iraq's banking licensing system. The banking sector is linked to citizens' deposits, the flow of funds, international compliance, anti-money laundering efforts, and the stability of the monetary market. Any leniency in granting licenses opens the door to suspicions of circumventing the law and altering the nature of the license without announcement or accountability.

In conclusion, the Arab Bank of Iraq case puts the Central Bank to a real transparency test: either it discloses the legal text that authorized this license, or it faces a serious accusation that it granted the status of a “local bank” to a foreign-controlled entity, in violation of the philosophy of banking supervision and the protection of the state’s financial sovereignty.

US Treasury Secretary: Our Gulf allies are not being transparent with us about Iranian funds.

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US Treasury Secretary Scott Bisent acknowledged that many of the United States' partners in the Middle East (Gulf states) are not being fully transparent regarding sanctions against Iran. "We have good partners in the Gulf region, but many of them have not been completely transparent with us," Bisent said during a Senate hearing. The Treasury chief explained that he was referring to operations within the banking systems of Middle Eastern countries.

Bisent added that the United States is working closely with its allies in the Gulf Cooperation Council (GCC), who are "much more willing now to cooperate in sharing information about the bank accounts of Iranian regime officials" than they were previously. These remarks come weeks after the Treasury Department announced its "economic wrath" campaign, aimed at disrupting Iranian financial networks. Meanwhile, Bisent expressed confidence that the United States has seized a significant amount of cryptocurrency assets as part of its economic pressure campaign against Tehran.

The Treasury Secretary revealed that Washington had seized nearly $1 billion in Iranian cryptocurrency. “We’ve seized about $1 billion of their cryptocurrency. We took direct control of the wallets,” he told Fox Business. His remarks came a day after the U.S. Treasury Department announced sanctions on four Iranian cryptocurrency exchanges, including the country’s largest, Nobitex, along with several of its executives. The department asserted that the move was part of an effort to prevent the Iranian regime from using digital assets to circumvent sanctions.

These measures are part of President Donald Trump’s “maximum pressure” campaign, which aims to deprive Iran of the oil and financial revenues it uses to fund its “destabilizing activities” in the region and its nuclear program. The Treasury Secretary had previously stated that the department would continue to “hunt down the money” as part of this “economic fury,” whether through the banking system or digital assets. On April 15, the Treasury Secretary announced that Washington was working with its Gulf allies to obtain bank account information linked to members of the Iranian government.

Added Post Production

Parliamentary request to hold an emergency session to complete the government cabinet and approve the budget

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The Honorable Speaker of the Council of Representatives

Ref. No.: 315

Date: January 3, 2026

Greetings,

**Subject: Convening an Emergency Session**

Pursuant to the provisions of Article (61) and Article (73—Fourth) of the Constitution, and the Council of Representatives Law No. (13) of 2018; and in response to the public interest and the exigencies of the current juncture—and given the critical importance of fulfilling the requirements of the present phase, along with the direct implications this entails for the delivery of services to citizens and the enhancement of governmental performance:

We respectfully request that you take the necessary measures to convene an emergency session of the esteemed Council of Representatives. The objective of this session is to conclude the voting process for the ministerial cabinet and to resolve the issue of vacant ministries, thereby contributing to the reinforcement of institutional stability and enabling the government to discharge its duties in the most optimal manner.

Furthermore, we emphasize the critical importance of expediting the submission and deliberation of the schedules for the 2026 Federal General Budget. This is due to the profound impact such measures have on the implementation of service-oriented and developmental projects, the fulfillment of the needs of the governorates, and the assurance of the continuity of reconstruction plans and the improvement of the quality of services provided to citizens.

These matters constitute a national priority that necessitates a concerted effort and the acceleration of procedures, serving the best interests of our beloved country and realizing the aspirations of our noble people.

With our highest regards and appreciation,

 

 no details yet just the image of the letter 

 

 

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“Al-Fayez” devours the savings of Iraqis… Debts double and families lose their homes under the pressure of need

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In the alleyways, markets, and residential neighborhoods of Baghdad, one of the most dangerous financial phenomena threatening the stability of thousands of Iraqi families is spreading: the phenomenon of “Fayez,” the colloquial term for loans with exorbitant interest rates. Citizens resort to these loans to escape financial hardship or to cover unexpected expenses, only to find themselves trapped in a cycle of debt from which escape seems impossible.
With continued economic pressures and rising living costs, “Fayez” has become a quick source of financing for many, requiring no complex banking procedures, guarantors, or lengthy transactions. However, this temporary solution often ends in significant financial losses, as the outstanding amounts multiply beyond the borrower's ability to repay.
Recently, discussions about this phenomenon have intensified on social media, with stories circulating of citizens forced to sell their possessions or mortgage their homes to settle debts accumulated due to high interest rates. Others have reported social and family conflicts arising from the inability to meet financial obligations.

Observers believe that the spread of “Al-Fayez” reflects a deeper crisis related to weak financial inclusion and the difficulty for a large segment of citizens to access official, affordable loans, which opens the door for unregulated lending networks to exploit people’s needs and make huge profits at the expense of their living conditions.

Legal activist Anwar al-Khafaji described the
phenomenon of "Fayez" as "no longer just individual financial transactions, but a serious social problem that threatens family stability and pushes many citizens toward losing their property and savings."
Speaking to Iraq Observer, al-Khafaji added, "Exploiting people's need for money and imposing exorbitant interest rates on them constitutes a form of financial extortion that traps victims in a vicious cycle of debt. We have witnessed cases that ended with the loss of homes, land, or small businesses due to the inability to repay."
She explained that "what is needed today is to strengthen legal and economic awareness, expand access to formal financing, and take stricter measures against illegal lending networks that profit from the difficult circumstances faced by some families."

Regarding the cost of living,
Abu Ahmed, a retired employee from Baghdad, said, “Many people don’t resort to loans for profit or adventure, but rather due to compelling circumstances such as medical treatment, marriage, or settling living expenses.”
He added to Iraq Observer, “The problem begins when the borrower discovers that the amount they received has multiplied several times over in a short period, leaving them unable to repay. They may even lose their home, car, or other possessions in exchange for a debt that was originally limited.”
Experts warn that the continued expansion of this phenomenon could lead to broader social and economic repercussions, especially with the increasing number of families facing crippling financial crises. They emphasize that addressing the problem is not limited to legal aspects alone, but requires genuine economic solutions that provide citizens with safe and fair alternatives, steering them away from the cycle of debt and exorbitant interest rates that have turned loans into a nightmare haunting many Iraqis.

Kurdistan Delegation in Baghdad to Discuss Oil Exports and Output Increase

Talks expected with Iraqi officials and SOMO aimed at raising Kurdistan Region oil exports to 500,000 barrels per day amid ongoing production constraints

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 A delegation from the Kurdistan Regional Government (KRG) arrived in Baghdad on Wednesday to hold a series of meetings with senior Iraqi officials focused on oil exports and mechanisms to increase production and shipments, according to Kurdistan24 correspondent in Baghdad, Dilan Barzan.

The delegation is scheduled to begin its first meeting at 12:00 noon on Wednesday with Iraq’s Prime Minister Ali Faleh al-Zaidi, marking the start of a broader round of talks with federal authorities.

A well-informed source told Kurdistan24 that the KRG delegation is on an official visit to Baghdad, with the main objective of increasing Kurdistan Region oil exports through the Turkish port of Ceyhan.

The delegation is expected to meet with Prime Minister al-Zaidi, Oil Minister Bassim Mohammed Khudair Al-Abadi, and representatives of the State Organization for Marketing of Oil (SOMO) to discuss export arrangements.

According to Kurdistan24 sources, the delegation includes Acting Minister of Natural Resources Kamal Muhammad, Head of the Council of Ministers Diwan Omed Sabah, and Cabinet Secretary Amanj Rahim.

A source within Iraq’s Oil Ministry told Kurdistan24 that crude exports from the Kurdistan Region have declined over recent months due to security conditions affecting oil fields, impacting both export volumes and overall regional revenues.

The talks in Baghdad are expected to focus on increasing oil exports to 500,000 barrels per day, alongside stabilizing production and ensuring secure transport routes.

Exports from the Kurdistan Region to the Turkish port of Ceyhan were suspended in 2023 following a ruling by an international arbitration court, before partially resuming at the end of 2025. However, recent months have seen another decline in output and exports due to renewed regional security tensions and concerns over the safety of oil infrastructure.

Officials from both sides are now seeking to stabilize export flows and address operational challenges that have affected production levels across key oil fields in the Kurdistan Region.

The Ministry of Finance includes "daily wages and contracts" in the 2026 budget (document)

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An official document revealed on Wednesday that Finance Minister Faleh al-Sari approved the inclusion and regularization of daily wage and contract employees within the 2026 budget, and referred the file to the Budget Department to take the necessary measures.

According to an official letter issued by the Chairman of the Finance Committee, MP Aziz Sharif Al-Mayahi, and addressed to the Minister of Finance, he requests that daily wage employees in ministries and service departments in the governorates, who have served for more than four years, be included in the 2026 budget and placed on permanent staff.

The document included a note from the Minister of Finance addressed to the Budget Department stipulating that contract and daily wage employees be included in the upcoming budget, in accordance with the approved procedures.

ThinkMarkets launches ChelseaAI to provide CFD trading using AI assistants

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Traders can now check trades, execute orders, and manage risk through a live chat with Claude or any other MCP-compatible AI assistant, without leaving their existing tools and platforms.


ThinkMarkets today announced the launch of ChelseaAI, a product that directly connects a real ThinkTrader account to an AI assistant. Traders can ask the AI to check trades, execute a trade, analyze current market conditions, or modify stop-loss orders—all instantly without requiring a separate login or switching between different applications.
ChelseaAI operates via the Model Context Protocol (MCP), an open standard that enables AI assistants to securely connect to external services. ChelseaAI supports any MCP-compatible AI assistant. ThinkMarkets recommends using Claude, developed by Anthropic, but traders can also connect via other popular platforms such as Grok and ChatGPT.
ChelseaAI is an AI-assisted trading interface and is not an expert or investment advisor. It only executes the trader's requests and does not provide any recommendations, signals, or investment advice of any kind. The world of trading is evolving beyond traditional user interfaces and charting libraries. The AI-powered trading revolution (Agentic Trading) will allow users to focus on the trading experience and the underlying product instead of navigating between different interfaces. Regarding

control and security
, clients choose their permission level before connecting. Read-only access allows the AI to view market data, trades, balances, and trading history, while full access adds the ability to execute, modify, and close orders. Any permission level can be changed or revoked instantly from within the ThinkTrader platform.
Regardless of the permission level granted, one rule remains constant: ChelseaAI has no access to funds. Deposits, withdrawals, and transfers are completely excluded from the integration process due to the system's security design. Every transaction is recorded in an integrated audit log that the AI cannot read or modify. Sessions also expire automatically after seven days or 24 hours of inactivity.
In this context,
Nauman Anis, co-founder and CEO of ThinkMarkets, said: “Our clients already use AI assistants as part of their daily trading routines. With ChelseaAI, their ThinkMarkets account becomes part of that conversation as well. We paid close attention to the permissions system and access limits, not because we had to, but because a product of this caliber cannot succeed unless users feel genuinely confident in it.”
ChelseaAI

will
be available to all ThinkTrader account holders starting June 2, 2026, through www.thinktrader.com, and can be used on both live and demo accounts. The service operates exclusively through ThinkTrader and includes 26 tools covering trading, market data, trade management, and account information. Setup takes less than two minutes, and full details and documentation are available at www.thinkmarkets.com

Al-Zaydi directs the resumption of work by oil companies in Kurdistan starting tomorrow.

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rime Minister Ali Faleh al-Zaidi directed oil companies in the Kurdistan Region of Iraq to resume operations starting tomorrow, Wednesday.
A statement from al-Zaidi's office indicated that he "received a delegation from the Kurdistan Regional Government headed by Minister of Natural Resources Kamal Mohammed Saleh, accompanied by representatives of several international oil companies operating in the region, in the presence of the Minister of Foreign Affairs, the Minister of Oil, and the Chief of Staff of the Army."

The Prime Minister listened to "a detailed explanation of the working conditions of the oil companies in light of the recent events resulting from the war in the region, as well as a comprehensive vision for the companies to resume their operations as quickly as possible."

He directed that "all requirements be provided to ensure the smooth operation of the oil companies working in the region," noting that "the damage inflicted on Iraq as a result of the halt in oil exports through the Strait of Hormuz was significant, requiring redoubled efforts to compensate for this damage by addressing the problems hindering increased production."
The Prime Minister also directed that "oil companies in the Kurdistan Region of Iraq resume their operations starting tomorrow, emphasizing joint efforts and the provision of a suitable environment and essential requirements."

"Their leadership changed 3 times"

Trump on negotiations with Iran: They are going well and something may happen over the weekend.

 

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US President Donald Trump announced on Wednesday (June 3, 2026) that negotiations with Iran are going very well, suggesting that a tangible development is likely during this weekend. Trump pointed out that the Iranian leadership has changed 3 times and that “anything can happen,” stressing his preference for reaching a written agreement, while noting that the ceasefire formula in Lebanon is completely different from the experiences of de-escalation in other parts of the world.

The US president stated in a press interview, which was followed by the 964 network , that “the negotiations are going very well,” indicating that “the ceasefire in Lebanon is different from the ceasefire in other parts of the world.”

He added that negotiations with Iran are going very well and something might happen over the weekend, noting that “anything can happen with Iran and the Iranian leadership has changed 3 times, and if it is possible to get a written agreement, we would prefer that.”

The memorandum of understanding, in its current form, includes an Iranian pledge not to seek to acquire a nuclear weapon, and a 60-day deadline for negotiating nuclear commitments and easing US sanctions. However, Trump believes it lacks more specific and binding Iranian concessions.

A senior US official said an agreement was inevitable, noting that it could take a week or less to reach, while Iranian state media reported that an agreement was close, claiming that Tehran would receive billions of its frozen funds, a claim denied by the White House.

In this context, a senior US administration official explained that the core of the dispute revolves around how the United States obtains Iranian enriched uranium and the timeline for that, saying: “It is about more details about how the United States obtains these materials and the timeline for that.”

The same official confirmed that reaching an agreement is likely, noting that the timeline remains contingent on Trump getting what he wants, saying: “There will be an agreement. We are prepared to wait until the president gets what he wants. It may take a week, it may be less or more. We hope to have something by the beginning of next week.”

Regarding the Iranian response, Axios reported that the American official was informed that Tehran would need about three days to respond to the new proposals, to which the official commented sarcastically, saying that the Iranians are “literally in caves and do not use email.”

In contrast, Iranian state media reported that an agreement was close but not yet finalized, claiming that Tehran would receive billions of dollars of its frozen funds due to US sanctions. However, the White House denied this and made no further comment, according to the website.

 

Trump Says He Would Like to Meet Iran’s Supreme Leader as Gulf Tensions Escalate

UAE calls for unified GCC response after attacks on Kuwait and Bahrain

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U.S. President Donald Trump said he would like to meet Iran’s Supreme Leader, Ayatollah Mojtaba Khamenei, amid continued diplomatic efforts to ease tensions in the Gulf following a new wave of attacks involving Iran, Kuwait, and Bahrain.

 

In an interview published Wednesday by the New York Post's “Pod Force One,” Trump said a meeting with Khamenei could take place in the future.

“I would like to meet him, and we probably will meet at some point, depending on how it all works out,” Trump said.

The remarks came as regional tensions remained high following attacks on Kuwait and Bahrain that Gulf states and their allies have blamed on Iran.

 

On Wednesday, senior Emirati official Anwar Gargash called for a united response from Gulf Cooperation Council (GCC) members, warning that the latest attacks threaten the security of the entire region.

“In light of Iran's repeated aggression against the brotherly states of Kuwait and Bahrain, a firm, unified and cohesive Gulf stance is imperative,” Gargash said in a post on X.

“No Gulf state should be left to face these attacks alone, because the security of the Gulf Cooperation Council states is interconnected, their interests are shared, and their destiny is one and the same,” he added.

Gargash stressed that the attacks were not directed solely at individual countries.

“This aggression does not just target one country, it targets us all,” he said.

 

Meanwhile, Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed responsibility for missile and drone strikes against U.S. military facilities in Kuwait and Bahrain, describing the attacks as retaliation for recent U.S. actions against Iranian assets.

“In response to this aggression, the Ali Al Salem Air Base in Kuwait, which hosts helicopters, as well as the headquarters of the U.S. Fifth Fleet in Bahrain, were targeted with missiles and drones by the Guards' forces,” the IRGC said in a statement published on its official Telegram channel.

The claims followed reports of an Iranian attack on Kuwait International Airport earlier on Wednesday.

Kuwaiti authorities said the strike forced the temporary closure of the airport and initially reported one fatality. An airport source later identified the deceased as an Indian national.

 

The Kuwaiti Health Ministry subsequently reported that at least 63 people were injured in the attack.

Health Ministry spokesperson Abdullah al-Sanad said 25 ambulances were dispatched to the airport and that victims were transferred to hospitals across the country.

 

“Sixty-three injured individuals were received and distributed among hospitals,” Sanad said, noting that several suffered serious wounds, including head injuries, cerebral hemorrhages, amputations, and injuries caused by explosions.

Despite the attack, Kuwait moved to restore air traffic later in the day.

The General Authority of Civil Aviation announced that flights operated by the country's national carrier, Kuwait Airways, would resume from Kuwait International Airport on Wednesday.

The latest developments underscore the fragile security situation in the Gulf, where ongoing tensions between Iran, the United States, Israel, and regional allies continue to raise concerns about broader instability, even as diplomatic contacts and ceasefire efforts remain underway.

 

Iraq restarts major oil fields to counter the repercussions of the Hormuz closure

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A report by Wood Mackenzie, published Wednesday, stated that Iraq has restarted major oil fields, including West Qurna 1 and Majnoon, to mitigate the impact of the Strait of Hormuz closure.

According to Wood Mackenzie's High-Frequency Oil Production Monitoring report, translated by Al-Ghad Press, "Iraq's production has rebounded to 1.5 to 1.6 million barrels per day as operations gradually resume at key southern fields such as West Qurna 1, Majnoon, and Fawqi."
The report added that "Iraq's immediate focus has shifted to securing related gas supplies, refinery feedstocks, and liquefied petroleum gas (LPG) to prevent a catastrophic energy shortage during the summer, unlike Gulf producers who are prioritizing exports."

It continued, "This recovery follows significant disruptions to energy flows in the Gulf and a decline in exports through the Strait of Hormuz, a vital route for Iraqi oil supplies, due to the regional conflict between Iran, Israel, and the United States."

Armed Forces: We have begun disarming and restructuring the Popular Mobilization Forces fighters.

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The spokesman for the Commander-in-Chief of the Armed Forces, Sabah al-Nu’man, confirmed on Wednesday (June 3, 2026) that the committee formed under the direction of the Commander-in-Chief of the Armed Forces has begun its work to restrict weapons to the state, indicating that disengagement from the Popular Mobilization Forces includes restructuring the formations and guaranteeing the rights of the affiliates.

Al-Nu’man said in a statement to the official agency, which was followed by 964 Network , that “this committee was formed by order of the Commander-in-Chief of the Armed Forces, by a purely Iraqi decision, in response to and in fulfillment of the call of the wise religious authority, and also what was included in the ministerial program, the government’s policy, and the approach of the Prime Minister, Commander-in-Chief of the Armed Forces, regarding the restriction of weapons and the unification of the security discourse.”

He explained that “the committee has been formed and has begun its work, and will put in place the mechanisms for integrating and joining the relevant formations, and handing over weapons, equipment and camps to the Iraqi security authorities.”

Al-Nu’man explained that “all weapons and all equipment will be handed over to the Central Committee and to the Iraqi security authorities, and within two days a complete inventory will be handed over to the Central Committee, which is under the direct supervision, guidance and follow-up of the Commander-in-Chief of the Armed Forces.”

He added that “the central committee includes multiple entities, including the Ministry of Defense, the Ministry of Interior, the Joint Operations Command, and the Popular Mobilization Forces, and will put in place the mechanism to complete this process in a standard manner and it will not take long,” indicating that “the work is being carried out according to administrative and legal mechanisms, as well as logistical and technical frameworks.”

Al-Nu’man explained that “the term disengagement includes administrative frameworks and restructuring of these formations within the security services, and guaranteeing the rights of the fighters and integrating them with the military formations.”

He also pointed out that “the Prime Minister, the Commander-in-Chief of the Armed Forces, has an economic vision for the requirements of this stage,” noting that “today Iraq is witnessing a stable security situation, and all terrorist threats have been eliminated.”

The Coordination Framework announced its support for the project to restrict weapons to the state and to sever the Popular Mobilization Forces from all political, partisan and social frameworks, in order to ensure continued cooperation between the Iraqi government and the international community and to complete the implementation of ending the mission of the international coalition in Iraq.

On Wednesday (May 27, 2026), the leader of the Shiite National Movement, Muqtada al-Sadr, announced the separation of the Peace Brigades from the movement and their integration into the state, in a move he described as aiming to end the partisan affiliations of armed formations and to strengthen the principle of restricting weapons to the state.

The Asaib Ahl al-Haq movement and the Imam Ali Brigades announced their participation in the initiative to restrict weapons to the state, and the formation of committees to proceed with this matter.

Meanwhile, the Sayyid al-Shuhada Brigades, led by Abu Ala al-Walai, confirmed that they would not surrender their weapons, noting that these weapons are a “trust and duty.”

The position of the Sayyid al-Shuhada Brigades was identical to that of the Hezbollah Brigades, which still rejects calls to restrict weapons. The security official of the faction, Abu Mujahid al-Assaf, announced in a statement (May 30, 2026) the readiness of the brigades to receive the weapons of the factions that have abandoned armed action and to pay for them, saying: “We are ready to receive some special weapons for which there are no specialists in the state apparatus, such as drones, suicide aircraft, cruise missiles, and anti-tank missiles, and we are also ready to pay for them.”

The Al-Nujaba Movement issued a short statement on Wednesday (June 3, 2026) in which it announced its rejection of disarmament, and said that its position is clear as stated in a previous post by “Secretary of the Islamic Resistance, Akram Al-Kaabi.”

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