Al-Zaidi Heads to U.S. to Transition Ties into Long-Term Economic Partnership
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Government spokesperson Haider al-Aboudi announced that Iraqi Prime Minister Ali Faeh al-Zaidi will lead a high-level delegation to the United States on Monday to sign key memorandums of understanding in the oil and gas sectors.
Al-Zaidi will be accompanied by several cabinet ministers, the Central Bank Governor, and private investors from the energy and banking sectors.
Channel8 earlier reported that the delegation will discuss key security, economic, and banking issues with U.S. officials, with a central focus on drawing American investments into Iraq's oil, electricity, and natural gas sectors.
Al-Zaidi previously stated that his trip to Washington is "not just a routine protocol visit" and that Iraq "prioritizes American companies" as it actively pivots from military to economic ties.
Al-Aboudi: Al-Zaidi's US Visit to Prioritize Balanced Ties
Al-Aboudi told a press conference on Sunday that the visit aims to build balanced foreign relations based on mutual interests, noting that al-Zaidi will hold crucial meetings with President Trump and financial institutions to turn these dialogues into real progress.
He stressed that the visit aims to strengthen ties with Washington, with discussions focusing primarily on developing economic and investment relations.
Al-Aboudi highlighted that the visit aims to boost Iraq's regional presence by prioritizing talks with the U.S. on economic cooperation, development, and investment in the energy, trade, and technology sectors.
Economic Partnership and Focus on Energy and Framework Integrity
The spokesperson noted that unlike previous visits, "its primary theme is the economy," emphasizing that all new agreements will remain fully based on the existing Strategic Framework Agreement.
He emphasized that upcoming Iraq-U.S. energy agreements will bring in specialized American firms to boost oil and gas production and build alternative export routes to avoid the Strait of Hormuz crisis.
Haider al-Aboudi further emphasized that the bilateral dynamic will transition from "crisis management to a long-term economic partnership."
Al-Zaidi shares Washington agenda with Shiite ruling bloc
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Iraqi Prime Minister Ali Al-Zaidi briefed the Shiite Coordination Framework (CF), the largest bloc in Iraq's parliament, on the agenda for his upcoming visit to Washington, bloc member Amer Al-Fayez told Shafaq News on Sunday.
Al-Fayez, leader of the Tasmim Alliance, said Al-Zaidi would represent Iraq's national interests during the visit and remained aware of the positions of the Coordination Framework and other influential political forces. The prime minister, he added, "will not depart from the principles governing Iraqi policy."
Al-Zaidi is scheduled to travel to Washington on Monday at the head of a high-level delegation on his first official foreign visit since taking office on May 1. An informed source previously told Shafaq News that the talks will cover investment agreements, energy projects, bilateral security, the future of US forces in the country, and efforts to bring armed factions under state control.
Iraq PM must win over Washington in his visit
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Iraqi Prime Minister Ali Al-Zaidi must convince US officials and investors that Baghdad can curb Iran-backed factions, protect foreign capital, and offer a credible economic partnership, according to an Atlantic Council analysis.
The report argued that armed groups, corruption, oil dependence, and reliance on Iranian energy continue to fuel skepticism in Washington, urging Al-Zaidi to present concrete steps on state control of weapons, financial transparency, and investor protection.
Economic ties should also anchor the visit, with Iraq promoting opportunities in energy, infrastructure, technology, and banking while proving that contracts can be enforced and companies shielded from political interference.
Al-Zaidi is due in Washington on July 13 for talks with US President Donald Trump, members of Congress, and American business leaders. His first visit since taking office in May is expected to cover investment, energy, bilateral security, the future of US forces, and alternative oil export routes. Iraqi business leaders will join the delegation, while Baghdad also plans to seek the release of an Iraqi bank guarantee held in the United States and estimated at about $30 billion.
Private banks expand lending with high profits... Borrowers demand lower interest rates and greater transparency
Experts call for a review of financing policies and disclosure of loan costs.
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Citizens complain about payment terms and guarantee
With continued economic pressures, declining purchasing power, and rising living costs, bank loans have become a necessity for thousands of Iraqis to meet basic needs, from building homes and buying cars to financing small businesses. However, these loans, which are supposed to support economic activity and improve living standards, have turned into a long-term financial burden for many borrowers due to high interest rates and repayment costs, while private banks reap increasing profits from their lending activities.
Experts believe that the expansion of lending reflects growth in the private banking sector, but it also reveals challenges related to a lack of
transparency in announcing interest rates and fees, as well as the absence of more flexible financing policies that take into account the economic circumstances of citizens.
In recent years, private banks have witnessed an expansion in offering personal, real estate, and commercial loans, benefiting from the high demand for financing in light of limited government support opportunities. The market includes several active private banks, most notably Bank of Baghdad, the Iraqi Investment Bank, Bank of Babylon, Ashur International Investment Bank, Basra International Investment Bank, and the National Bank of Iraq, which offer a variety of financing products for individuals and companies.
Data indicates that most of these banks do not clearly publish updated interest rate schedules, as rates vary depending on the loan amount, repayment period, collateral, and the borrower's financial solvency. This makes it difficult to determine the true cost of the loan before signing. Experts believe that this limited transparency weakens the ability of citizens and investors to compare different offers and make informed financial decisions, especially given the presence of administrative fees and additional expenses that can increase the final cost of the loan.
According to financial experts, interest rates in the Iraqi market generally range between 12% and 18%, depending on the type and nature of the loan. The total cost of the loan over the repayment period can exceed 40% of the principal amount when calculated using the declining balance method, and can rise even higher if calculated using the fixed interest method.
Experts confirm that these rates generate relatively high profit margins for banks, but conversely, they reduce the economic viability of small and medium-sized enterprises (SMEs), which require high returns to cover financing costs and generate actual profits. Furthermore, high interest rates transform many consumer loans into long-term financial obligations that drain household incomes, especially with continued inflation and rising prices of goods and services.
For her part, former MP Suzanne Mansour believes that loans represent a basic need for broad segments of society, particularly those with limited incomes.
Mansour stated, "Loans are essential for citizens, especially those with limited incomes, as they help them meet basic needs such as marriage, purchasing a car, and building a house. It is crucial that loans be accessible, with reasonable repayment installments and low profit or interest rates. Interest rates on some loans can reach 9%, which places a significant burden on citizens."
She added, “It’s important to reconsider the interest rates on regular loans and make them lower than the current rates, while
differentiating them from investment project loans, which have different natures and objectives. There should also be serious media and parliamentary pressure to discuss this issue and work towards reducing loan interest rates, thereby easing the financial burden on the average citizen and supporting their financial stability.” These demands align with growing economic calls to restructure lending policies to balance bank profitability with citizens’ ability to repay.
Meanwhile, Umm Ali, a citizen who borrowed from a private bank, complains about the high interest rates and monthly repayments, emphasizing that this has placed a significant burden on her family’s income.
She said, “I was forced to take out a loan to complete the construction of my house. The interest rate was 10%, but the monthly payment
reached 350,000 dinars, which is a large sum for my financial situation.” She added that her living expenses and rising prices made it difficult to meet her loan repayment deadlines, urging relevant authorities to review interest rates and adopt more flexible mechanisms that take into account the economic circumstances of citizens, especially those with limited incomes.
A number of borrowers are calling for a review of lending policies at some private banks, specifically requesting a reduction in interest rates or an extension of repayment periods. This would alleviate the financial burden on families who resort to loans to meet basic needs, such as building or renovating homes.
Similarly, Abu Ahmed, a citizen seeking a loan from a private bank, complains about the difficulty of finding a guarantor and the high
monthly repayment costs. He emphasizes that this hinders his plans to open a small business to provide income for his family.
He said, "I want to take out a loan to start a small business to support myself and provide a stable source of income, but the problem is that the bank requires a guarantor, which is very difficult for me. In addition, the installments and interest rates seem high compared to my financial means."
He added that his biggest concern is the project's inability to generate sufficient profits during the initial months, potentially rendering him unable to repay installments on time. He urged relevant authorities and banks to streamline lending procedures, reduce guarantor requirements and repayment costs, thus enabling young people and those with limited incomes to launch their projects without loans becoming a burden that threatens their success.
A number of citizens aspiring to start their own businesses are also calling for a review of lending policies, specifically by easing collateral requirements, lowering interest rates, or extending repayment periods. This, they argue, would provide them with a genuine opportunity to establish small businesses that contribute to improving their living conditions.
Financial expert Ahmed Fadi confirms that the private banking sector is witnessing a significant expansion in the provision of credit services. However, he notes that the most prominent challenge lies in the lack of clear and up-to-date publication of interest rates, making it difficult for borrowers to calculate the true cost of loans.
He points out that economic feasibility varies depending on the nature of the project. Loans are less suitable for projects with limited profit margins because interest rates, which can range between 12% and 18%, necessitate a return exceeding 20% or 25% to ensure coverage of financing costs and generate actual profits.
He added that some sectors, such as fast-moving trade or projects with a short capital cycle, may benefit from bank financing, while small productive projects face significant challenges due to high operating costs and interest rates.
Fadi believes that private banks play a vital role in financing the private sector and stimulating economic activity, but they need to adopt more transparent policies regarding interest rates and fees. This would enhance customer confidence and enable them to make sound financial decisions.
He also called on the Central Bank to set a benchmark interest rate ceiling and encourage banks to direct financing towards productive sectors with lower interest rates, thus achieving a balance between bank profitability and the requirements of economic development. Observers believe that while the continued rise in bank interest rates may boost bank profits in the short term, it simultaneously reduces citizens' ability to borrow productively and increases the risk of financial default, especially given declining real incomes and rising living costs.
Furthermore, weak competition in the lending market and the lack of full disclosure of financing costs make the borrower the weaker party in the contractual relationship, necessitating greater regulatory intervention to ensure market fairness and protect financial consumers.
“Gates Developments and Siemens sign a memorandum of understanding to develop smart infrastructure”
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Gates Developments has announced the signing of a strategic memorandum of understanding (MoU) with Siemens, a global leader in technology and smart infrastructure. The MoU aims to explore collaboration opportunities in developing smart infrastructure solutions and electrical projects related to the company's current and future developments. This announcement reflects the company's commitment to adopting cutting-edge global technologies in the real estate sector.
The memorandum of understanding was signed in the presence of Hassan Nasr, CEO of Gates Developments, and Mostafa El Bagoury, CEO of Siemens, along with several other executives from both companies. This collaboration reflects a shared vision aimed at supporting digital transformation and enhancing the efficiency of infrastructure in urban development projects, in line with global trends in sustainability, energy efficiency, and smart cities.
This collaboration comes at a time when the real estate sector is moving towards smart and sustainable projects, where energy efficiency and advanced infrastructure have become key criteria that investors and customers rely on when making purchasing and investment decisions.
Under the memorandum of understanding, the two companies will explore and develop opportunities for collaboration in the design of electrical distribution networks and energy management systems, as well as smart digital solutions. This collaboration aims to implement cutting-edge technologies that enhance operational efficiency and optimize energy utilization within real estate projects.
Through this collaboration, Gates Developments seeks to promote the concept of smart urban communities and develop an infrastructure based on the latest electrical and technological systems, ensuring the delivery of more efficient, reliable and sustainable projects.
Hassan Nasr emphasized that the future of real estate development no longer depends solely on location, design, or quality of execution, but now relies primarily on technology and efficient infrastructure. He also noted that the partnership with Siemens is part of a clear strategy aimed at integrating the latest global solutions into projects, thereby contributing to improved quality of life and increased operational efficiency.
Nasr explained that the company adopts a long-term vision for developing technology-driven and sustainable projects, emphasizing the importance of digital transformation as a fundamental element in the development of modern cities. This collaboration aims to deliver a sophisticated real estate product that aligns with global standards and provides clients with a superior experience based on efficiency and sustainability.
For his part, Mostafa El Bagoury affirmed that the collaboration with Gates Developments represents a model of integrating global expertise with an ambitious development vision in the Egyptian real estate market. Siemens possesses extensive experience in smart infrastructure and energy management, facilitating collaboration to implement cutting-edge technologies that enhance project efficiency and sustainability.
Al-Bajouri pointed out that digital solutions and energy management systems have become key tools for improving operational performance and enhancing resource consumption efficiency, which supports sustainability goals and reduces the environmental footprint of projects.
Abdul Hadi: The decision on the remaining ministerial portfolios in Ali Zaidi's government may be postponed until August.
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Member of the Coordination Framework, Uday Abdul-Hadi, confirmed on Sunday that finalizing the nominations for the remaining ministerial portfolios in Ali Zaidi's government may be delayed until next August, attributing this to the continued lack of political consensus.
Abdul-Hadi explained to Al-Maalouma that "the absence of a comprehensive agreement among the various political forces has led to the delay in finalizing the nominations for nine ministerial portfolios in Ali Zaidi's government."
He added that "all indications point towards holding a session to resolve this issue during the last quarter of July or, at the latest, the beginning of August," noting that "it is impossible to proceed with resolving this matter without reaching a comprehensive agreement among the political forces."
He pointed out that "completing the nominations for the remaining portfolios is crucial, especially since there are sovereign ministries that require permanent ministers in order to fully implement the government program in all its aspects."
Abdulhadi confirmed that "the coordination framework will hold a meeting this week, and it is hoped that it will discuss a number of important issues, foremost among them finalizing the remaining ministerial portfolios in Ali Zaidi's government."
Economists: Iraq's international acceptance has broadened following Operation Dawn.
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Iraq is betting that its ongoing anti-corruption campaign will be a starting point for restoring international confidence, as experts believe that establishing the rule of law and holding corrupt individuals accountable sends a positive message to financial institutions and investors, and may be reflected in improved economic indicators and governance.
turning point
The academic, Dr. Kazem Eidan, described the current moves as a “real turning point” if the state continues to fight corruption without exceptions or selectivity, indicating that the international community does not build its confidence on statements, but on results, the rule of law, and the independence of the judiciary.
Eidan explained in an interview with Al-Sabah that holding corrupt individuals accountable under the law has enhanced Iraq’s image and will contribute to bringing it closer to political and economic stability, and will open the door to international investments and partnerships, stressing that true success will only be achieved when the citizen, before the world, feels that the law is applied to everyone without discrimination or exceptions.
The spokesman added that if the government succeeds in turning these measures into a permanent and continuous approach, Iraq may regain the international standing it deserves after many years of challenges. He considered the recent measures, including opening corruption files, as a message that the state is ready to take serious and bolder steps, which is being followed with great interest by countries and international financial institutions.
Eidan pointed out that this trend improves the investment environment, explaining that investors view combating corruption as an indicator of the stability of the business environment and a decrease in the risks of bribery and illegal interventions, which is reflected in an increase in foreign investments.
International ranking improved
Eidan promised that strengthening economic and financial relations would be a gateway to the success of reforms and economic and financial stability, which would facilitate cooperation with international institutions and increase opportunities to obtain financing and investments on better terms, as well as raise Iraq’s international ranking and achieve sustainable improvement in governance and transparency indicators, thus improving the country’s international image, provided that these reforms continue and show their results.
economic stability
On the same note, financial and economic researcher Imad Al-Muhammadawi considered combating corruption to be the gateway to economic stability in Iraq, explaining that corruption is an economic burden before it is a moral one.
Al-Muhammadi told Al-Sabah that corruption in Iraq is not measured by numbers alone, but by the burdens it places on the investment environment. He pointed out that when contracts and licenses are granted outside the framework of competence through incompetent intermediaries, they create a burden and a state of uncertainty, the price of which is paid by both the investor and the citizen.
Al-Muhammadi added that most specialized reports indicate that the cost of doing business in Iraq is higher than in other countries due to bribery and favoritism, stressing that this makes the investment environment an attractive arena for uncalculated risks.
Recovering stolen funds
The researcher pointed out that the international community views the stability of Iraq from a different angle than security, but rather through the state's ability to enforce the law equally, by recovering the looted funds from those who steal public money. This is a message of great impact to international companies that seek to enter the Iraqi market, as the former feel their way to the market by predicting the state's judicial decisions and thus whether or not to enter the market.
Al-Muhammadi promised that recovering the funds would be an opportunity to introduce the world to the image of the new Iraq, whose name has been associated for many years and in international reports with a decline in governance indicators. He stressed the need to work on changing and reformulating that stereotypical image by issuing judgments against all corrupt individuals without exception and recovering those funds, in order to alleviate the crisis of international confidence and change the country’s reputation.
He believed that continuing to work by increasing reform initiatives and finding a new building block that deserves international confidence in the file of opening investments, not just opening internal corruption files, but through international relations in a stage in which Iraq is regaining its regional role and diversifying its incomes, which were limited to selling oil and the files that accompany it.
Account for depositing stolen goods
It is worth noting that the government spokesman, Haider al-Aboudi, said earlier that the “Dawn Charge” anti-corruption campaign is ongoing, revealing an account into which the funds will be deposited.
Al-Aboudi said that the fight against corruption is ongoing and is based on a procedural methodology in which the federal authorities cooperate and integrate, adding that the government continues to implement its constitutional obligations in protecting public funds and enabling state institutions to perform their duties in enforcing the law.
He explained that the anti-corruption narrative is unlike its predecessors, noting that the Prime Minister, Ali al-Zaidi, directed the Ministry of Finance to create an account to deposit the recovered funds.
"A true turning point"
Experts: “The Green Zone offensive” is reshaping Iraq’s international standing… and the condition is: “No exceptions.”
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Iraqi researchers and academics believe that the Green Zone offensive launched by Prime Minister Ali al-Zaidi’s government against corruption will improve Iraq’s international image and raise its standing, especially in the political, legal, and economic fields, particularly if it continues to combat corruption without exceptions or selectivity, as they put it.
Academic researcher Kazem Eidan describes the Green Zone operation as a “real turning point,” provided the state continues to combat corruption without exceptions or selectivity, explaining that the international community does not build its trust on statements, but on results, the rule of law, and the independence of the judiciary.
The Green March restores Iraq's standing
Eidan explained, in an interview with the official newspaper, which was received by Network 964 , that holding corrupt individuals accountable according to the law has enhanced Iraq’s image and will contribute to bringing it closer to political and economic stability, and will open the door to international investments and partnerships, stressing that true success will only be achieved when the citizen, before the world, feels that the law is applied to everyone without discrimination and exceptions.
He added that if the government succeeds in turning these measures into a permanent and continuous approach, Iraq may regain the international standing it deserves after many years of challenges. He considered the recent measures, including opening corruption files, as a message that the state is ready to take serious and bolder steps, which is being followed with great interest by countries and international financial institutions.
Eidan pointed out that this trend improves the investment environment, explaining that investors view combating corruption as an indicator of the stability of the business environment and a decrease in the risks of bribery and illegal interventions, which is reflected in an increase in foreign investments.
International ranking improved
Eidan promised that strengthening economic and financial relations is a gateway to the success of reforms and economic and financial stability, which facilitates cooperation with international institutions and increases opportunities to obtain financing and investments on better terms, as well as raising Iraq’s international ranking and achieving sustainable improvement in governance and transparency indicators, thus improving the country’s international image, provided that these reforms continue and their results are demonstrated.
economic stability
On the same note, financial and economic researcher Imad Al-Muhammadawi considered combating corruption to be the gateway to economic stability in Iraq, explaining that corruption is an economic burden before it is a moral one.
Al-Muhammadi pointed out that corruption in Iraq is not measured by numbers alone, but by the burdens it places on the investment environment, noting that when contracts and licenses are granted outside the framework of competence through incompetent intermediaries, they constitute a burden and a state of uncertainty for which the investor and the citizen alike pay the price.
Al-Muhammadi added that most specialized reports indicate that the cost of doing business in Iraq is higher than in other countries due to bribery and favoritism, stressing that this makes the investment environment an attractive arena for uncalculated risks.
American talk about the decline of the dollar's status and the United States' global influence
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American author John Perkins, known for writing "Confessions of an Economic Hit Man," said that the status of the US dollar and the global influence of the United States are facing increasing challenges.
Perkins' remarks coincided with growing criticism of the system.
Federal ReserveCalls are growing around the world to reconsider reliance on the US dollar.
Perkins added, during a media interview, that people in various places are increasingly questioning...USThe dollar and the Federal Reserve system, he noted, pointing out that global geopolitical and economic shifts are pushing some countries to seek alternatives that reduce their dependence on the American financial system.
He explained thatChinaChina faces significant challenges in its efforts to reduce reliance on the dollar, given its vast holdings of assets denominated in the US currency.
Perkins argued that any sharp decline in the dollar's value could negatively impact the Chinese economy. He further stated that the power of any global empire rests on three main pillars: possessing a globally dominant currency, military might, and linguistic reach. He suggested that a weakening dollar could lead to a decrease in American global influence, and that American military power is facing increasing scrutiny due to the outcomes of wars and foreign interventions over the past decades.
Perkins' remarks come at a time of rapid transformation in the global economic system, with several countries striving to promote the use of their local currencies in international trade and to increase the role of other currencies in financial transactions, amidst widespread debate about the future of the global monetary system.
Parliamentary Finance Committee reveals details of the 2027 budget
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The head of the parliamentary finance committee, Uday Awad ,
revealed on Saturday the most prominent aspects of the 2027 budget proposal, explaining that it will adopt a program and performance budget in a number of government institutions and agencies.
Awad told Al-Maalomah News Agency, "The 2027 budget will be a program and performance budget, while the remaining sections will be structured according to the program and performance guidelines." He explained that "this approach comes within the framework of developing budget preparation mechanisms and enhancing the efficiency of government spending."
He added that "the application of the program and performance budget will include the Ministry of Electricity, in addition to the governorates of Salah al-Din and Diwaniyah, as the first phase of the project," emphasizing that "adopting this method contributes to raising the level of oversight of spending and achieving better results in the implementation of projects and services."
E-wallets promote financial inclusion and support the fight against corruption... Cybersecurity is key to their success - Urgent
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Digital transformation and financial technology expert Ahmed Al-Tamimi confirmed on Sunday (July 12, 2026) that electronic wallets have witnessed rapid growth in Iraq in recent years, driven by the spread of smartphones, the expansion of digital services, and government measures aimed at reducing reliance on cash and promoting the digital economy.
Al-Tamimi told Baghdad Today that the spread of electronic wallets has reached unprecedented levels, but the actual rates of their use still vary between governorates and age groups, explaining that the demand for them is concentrated in major cities and among the youth, while some areas need more awareness and development of the digital infrastructure.
He added that citizens’ confidence in digital transactions has gradually improved thanks to the development of banking systems and enhanced oversight of electronic payment companies, but it is still linked to the speed of completing transactions, the level of data protection, and the immediate response to complaints and cases of fraud.
He pointed out that the most prominent security challenges are phishing attempts, theft of user data, and social engineering, in addition to the limited awareness of cybersecurity among some users, calling for strengthening multi-factor authentication systems, expanding awareness campaigns, and investing in cybersecurity solutions.
Al-Tamimi explained that government measures have contributed to expanding the umbrella of financial inclusion by supporting electronic payment services, encouraging the opening of digital wallets, and linking a number of government services and salary and payment systems to digital solutions, which has enabled groups that were outside the banking system to access financial services more easily and efficiently.
He stressed that digital transformation is an effective tool in combating corruption and reducing tax evasion, by enhancing transparency, documenting financial transactions electronically, and reducing direct cash transactions, which contributes to tracking the movement of funds, reducing the informal economy, and raising the efficiency of tax collection, as well as providing accurate data that supports decision-makers in formulating economic policies.
Al-Tamimi concluded by emphasizing that the success of digital transformation does not depend on technology alone, but requires the development of legislation, the strengthening of cybersecurity, raising the financial and digital literacy of citizens, in addition to building an effective partnership between the public and private sectors to ensure the achievement of sustainable economic development and broader financial inclusion.
In recent years, Iraq has witnessed a remarkable expansion in the use of electronic payment methods, as part of a government initiative aimed at promoting financial inclusion and reducing reliance on cash transactions.
The relevant authorities have adopted a number of initiatives to link salaries and government services to digital platforms, while experts emphasize that the success of these steps requires the continued development of the digital infrastructure, the strengthening of cybersecurity, and raising awareness of the use of electronic financial services.
Iraqi PM Ali Faleh al-Zaidi to Visit Washington with High-Level Delegation for Economic and Security Talks
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Iraqi Prime Minister Ali Faleh al-Zaidi will travel to Washington this week accompanied by a high-level ministerial and business delegation for talks aimed at strengthening economic, financial, energy, and security cooperation between Iraq and the United States.
High-Level Iraqi Delegation
Ali Faleh al-Zaidi will be accompanied by the ministers of Foreign Affairs, Oil, Finance, and Electricity, as well as the Governor of the Central Bank of Iraq.
The Minister of Communications, Mustafa Sanad, may also join the visit. The delegation also includes investors and representatives from companies operating in the energy, electricity, and banking sectors.
Focus of Talks with Washington
The Iraqi delegation is expected to discuss several key issues with U.S. officials, including security, the economy, trade, finance, and banking sector development.
Energy will be a central focus of the talks, covering oil, electricity, and natural gas, with discussions aimed at encouraging greater investment by U.S. companies in Iraq.
Meeting with Trump and Planned Agreements
According to the visit agenda, al-Zaidi is scheduled to meet U.S. President Donald Trump and other senior American officials.
The Iraqi government has expressed its readiness to expand investment opportunities for U.S. companies, and several new agreements and strategic understandings in the energy and financial sectors are expected to be signed during the visit.
Kurdistan Region Representation
Bayan Sami Abdul Rahman, Advisor to Masrour Barzani, will participate in part of the meetings between the Iraqi delegation and U.S. officials.
Her participation is intended to coordinate discussions on issues related to the Kurdistan Region and the future of its relations with Washington.
A report reveals the weakness of digital transformation in the Iraqi banking sector.
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The “Eco Iraq” observatory revealed that the banking sector in Iraq is among the largest in the Middle East region in terms of the number of banking institutions, but the level of services and technological development is still below the citizens’ aspirations.
The observatory explained in a statement received by “Al-Sa’a” that “Iraq includes 81 banking institutions, in addition to more than 25 million active electronic payment cards managed by 20 companies specializing in electronic payment services, which reflects a remarkable expansion in the banking infrastructure.”
He added that "this quantitative expansion has not been adequately reflected in the quality of financial services or the role of the banking sector in supporting economic activity," noting that "challenges continue to exist that limit the development of the banking system."
The observatory stressed that “Iraq still lacks a fully integrated digital electronic bank that operates entirely through digital means, despite the rapid transformations taking place in the global financial sector,” considering that “the absence of this model reflects the need to accelerate the pace of digital transformation and develop banking services to keep pace with modern standards.”
Al-Zaidi heads to Washington carrying files on the economy and weapons in a pivotal visit to the White House
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All eyes are on the upcoming visit of Iraqi Prime Minister Ali al-Zaidi to the White House next week, in one of the most significant milestones in Iraqi-American relations in recent years .
This visit comes amid increasing pressure on Baghdad to address the issue of armed factions, coinciding with the Iraqi government's efforts to expand economic and investment cooperation with the United States .
A report by Middle East Eye stated that “US President Donald Trump views Iraq from the perspective of economic and investment opportunities, while al-Zaidi seeks to capitalize on this trend to strengthen relations with Washington and gain the support of the US administration, which gives him more room to implement his government program, and at the forefront of his priorities is restricting weapons to the state and reorganizing Iraq’s regional relations .”
According to the report, "During his visit, Al-Zaidi will carry a package of economic agreements, including expanding the initial agreement with Chevron to develop one of the oil fields in Basra Governorate, in addition to increasing the investments of another American company in the Akaz gas field in Anbar Governorate ."
He added: "The visit's agenda also includes the signing of an agreement to rehabilitate the Kirkuk-Banias pipeline, which connects Iraq to the Syrian coast, in a project that Washington sees as part of its plan to ensure the continued flow of energy supplies and reduce the impact of any disruptions in the Strait of Hormuz ."
He noted that "the US envoy to Syria and Iraq, Tom Barrack, is working to prepare initial understandings before al-Zaidi arrives in Washington, as part of a strategy aimed at expanding the presence of American companies and reducing Iranian economic influence within Iraq ."
The report noted that "the resumption by the United States of transferring Iraqi oil revenues deposited with the Federal Reserve in New York, days before the visit, has political dimensions that go beyond the financial aspect, and reflects Washington's desire to open a new chapter of cooperation with Baghdad ."
He explained that "in contrast, the issue of armed factions will occupy a key position in the White House talks, as the US administration seeks to obtain clear Iraqi commitments regarding ending the influence of armed groups linked to Iran, and stopping attacks targeting US interests and the Gulf states ."
Al-Zaydi had given those factions until September 30 to hand over their weapons to the state, coinciding with the end of the international coalition’s mission in Iraq, but some of the main factions, including Kataib Hezbollah and Harakat al-Nujaba, still refuse to give up their weapons .
The report also addressed the anti-corruption campaign launched by the Iraqi government, considering that it "strengthened al-Zaidi's position before the American administration, after it included prominent figures and officials, including those close to the previous government and figures associated with the Popular Mobilization Forces ."
The report concluded that "the success of the visit will not be measured by the number of economic agreements that will be signed, but rather by the ability of the Iraqi Prime Minister to convince Washington that his government is capable of implementing real reforms and making progress in the issue of restricting weapons to the state, while at the same time maintaining balance in Iraq's regional relations
Warnings against crossing red lines during al-Zaidi's visit to Washington: "Iraq is not an American state."
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Jassim Mohammed Jaafar, a leader in the State of Law Coalition, confirmed on Saturday that Prime Minister Ali al-Zaidi’s visit to the United States should be primarily diplomatic.
Jaafar told Al-Maalomah that "the coordination framework should play a role in sending advisors with political experience and high negotiating ability to support the Prime Minister in confronting American political influence."
He added that “al-Zaydi does not possess sufficient political depth,” calling for “learning from past experiences, especially the experience of former Prime Minister Nouri al-Maliki and the negotiating team at the time, who succeeded in imposing Iraq’s vision and demands during negotiations with the American side.”
Jaafar pointed out that "there are constants that al-Zaydi must not transgress, whatever the circumstances," noting that "Iraq is not an American state to have dictates imposed upon it."
He explained that “Iraq shares a border with Iran that extends for more than a thousand kilometers, in addition to its borders with Turkey and Syria,” indicating that “the nature of relations with these countries represents a strategic issue that affects the future of generations, and Iraq should determine it according to its national interests and without any external dictates.”
Jaafar stressed the necessity for Iraq to "retain its sovereign decision-making and not have decisions imposed upon it from Washington," emphasizing that any "agreement with the American side must take into account the political, economic, and social realities of Iraq and safeguard its national interests."
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Exclusive: Al-Zaidi participates in a Gulf conference in Washington to discuss the "Iran war"
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An informed source revealed on Saturday new details about Prime Minister Ali al-Zaidi’s visit to Washington, indicating that it will include meetings with members of the US Congress, in addition to his participation in a Gulf conference in the US capital to discuss the repercussions of the Iranian war .
The source told Shafaq News Agency that "Prime Minister Ali al-Zaidi, accompanied by a number of ministers and political and economic figures, will leave Baghdad for Washington next Monday, where the visit will begin with a meeting with US President Donald Trump and a number of members of Congress, in addition to officials of some American investment and economic companies ."
He added that "the visit is scheduled to last for a week, but it could be extended for a longer time, especially since on the 17th of this month, a conference will be held in Washington with the participation of leaders of Gulf countries, to discuss and address the repercussions of the war with Iran and the ways of the Gulf countries, given that they are linked to Washington by treaties, as well as to discuss other files related to the new Middle East situation ."
He pointed out that "Al-Zaydi will focus in his discussions on activating the economic and investment file through investment contracts ."
An informed source revealed earlier to Shafaq News Agency that Prime Minister Ali al-Zubaidi will discuss during his upcoming visit to Washington next month the release of one of the Iraqi bank guarantees held by the United States, estimated at about $30 billion, in addition to economic and investment files .
The source told Shafaq News Agency that Al-Zaidi's visit to Washington will focus on redefining the relationship between Baghdad and Washington "in a clear and comprehensive manner," as well as discussing economic and investment files that will benefit both sides .
The source indicated that the release of this guarantee also comes within the framework of addressing the repercussions of the Strait of Hormuz crisis, and enhancing Iraqi oil exports through alternative outlets in neighboring countries, by activating different transport lines to maximize financial revenues .
Previously, sources revealed that Al-Zaidi’s visit to Washington would include discussions on security and economic issues, most notably the security agreement and the future of the American military presence, as well as expanding the economic and investment partnership, and a proposal to establish an Iraqi financial fund in the United States to finance development and infrastructure projects .
US Special Envoy to Syria and Iraq Tom Barrack conveyed to Iraqi Prime Minister Ali al-Zaidi President Donald Trump's "desire" to receive him at the White House in "mid-July" to discuss bilateral relations .
Al-Zaydi announced that the visit would be accompanied by businessmen to expand mutual and joint investment opportunities.
(Update) Iraq moves to merge Rafidain and Rasheed banks after previous setbacks and US
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An informed government source revealed on Saturday a new move led by the Iraqi Ministry of Finance to restructure and merge a number of state-owned banks, as part of a plan that extends for about two years and aims to address the accumulated financial, administrative and technical imbalances in the banking sector.
The source told Shafaq News Agency that "the Ministry of Finance intends to merge Rafidain and Rasheed banks into one bank, in addition to merging the Agricultural and Industrial Banks, as well as reorganizing and merging a number of other government banks into more competitive financial entities that can provide services."
He added that "the plan is not limited to unifying departments, but also includes restructuring assets, liabilities and staff, modernizing banking systems and electronic infrastructure, and redistributing branches and powers, in accordance with international banking standards."
According to the source, the Minister of Finance discussed the matter extensively with the Prime Minister, and an initial time limit of up to two years was set for completing the merger and restructuring operations, with the possibility of intensifying the procedures and shortening the period to one year if the legal and technical requirements are completed.
He pointed out that restructuring major banks "will enhance the banking system's ability to manage remittances, cash transactions, and trade finance, and will help to control the dollar market and reduce the gap between the official and parallel exchange rates, as well as support monetary stability and economic activity."
The new plan comes in light of the dominance of Rafidain and Rasheed banks over a large part of the government banking activity, as data from the Central Bank of Iraq indicates that they hold about 42 percent of the banking sector’s assets and 56 percent of total deposits.
This was not the first attempt to reform the two banks. The Central Bank and the Ministry of Finance had previously signed a memorandum to restructure them operationally and financially, before implementing a reform program supported by the World Bank. This program included developing organizational structures, auditing, risk management, compliance, and modernizing accounting systems. However, these measures did not result in merging the two banks or transforming them into institutions fully capable of operating according to the modern commercial banking model.
A previous World Bank report revealed the extent of the financial legacy carried by the two banks after 2003. According to data dating back to 2012, the external liabilities recorded on Rafidain Bank amounted to about $17.75 billion, while the liabilities of Rasheed Bank amounted to $1.13 billion. The Ministry of Finance took over settling large parts of them, in addition to dealing with non-performing loans and losses related to currency revaluation and accounts dating back to the previous regime.
The government reintroduced the file at the beginning of 2024, when the Cabinet approved contracting with Ernst & Young to prepare a study and roadmap for restructuring Al-Rafidain and Al-Rasheed within six months, in addition to studying the merger of the Industrial, Real Estate and Agricultural Banks into one institution. However, the project exceeded the specified period and remained until the beginning of 2026 in the stage of reviewing recommendations and executive steps, without the actual merger being completed.
This move coincides with broad shifts in the mechanism for financing foreign trade, after the Central Bank ended the operation of the foreign transfer platform at the beginning of 2025, and transferred the execution of transfers to Iraqi banks through their accounts with international correspondent banks, which made the ability of any bank to deal in dollars linked to the level of its compliance and its auditing of beneficiaries and sources of funds and its relationships with global financial institutions.
For years, the Iraqi banking sector has been subject to American observations and pressures related to money laundering, dollar smuggling, and the flow of hard currency to Iran or entities listed on sanctions lists.
In February 2024, eight Iraqi banks were barred from conducting dollar transactions, before the restrictions were extended to include five more banks and three electronic payment companies in February 2025, following meetings between the Central Bank of Iraq, the US Treasury Department and the Federal Reserve.
The restrictions on dealing in dollars differ from direct US sanctions, as banks deprived of dollars can continue their work in dinars or other currencies, but they face significant difficulties in carrying out remittances and foreign trade.
In September 2024, the US Treasury praised what it described as "significant progress" in reforming the Iraqi banking sector and expanding its connection to the international financial system, but continued to emphasize the need to tighten control over illicit financing, and to develop governance, compliance, and anti-money laundering and counter-terrorism financing measures.
These pressures intensified during 2026 as Washington expanded its sanctions against Iraqi networks and individuals it accused of exploiting the oil and business sectors to finance Iran and its affiliated factions, while the Treasury warned of the possibility of imposing secondary sanctions on foreign financial institutions that facilitate prohibited Iranian activities.
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"A new Middle East is taking shape": Washington is betting on the Kurds between Iraq and Syria to reduce Iran's influence.
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A new Middle East is taking shape based on trade and interdependence rather than reliance on military power alone, according to an American vision, as explained in an analysis published by The National Context . The analysis indicated that this vision includes linking Iraq, Syria, and Turkey, which contributes to weakening Iranian influence, while the Kurds have become a guarantor of this new regional order.
The Erbil-based website said in a report issued in English and translated by Shafaq News Agency that the new regional system is based on the idea of the state, noting that the Kurdistan Region agreed, for the first time, to adopt a unified customs system under the supervision of the federal authority, so that its oil exports pass through the state-owned SOMO company.
He added that, within this framework, the Kurdistan Democratic Party and the Patriotic Union of Kurdistan are viewed as separate local partners and actors within the new structural system, and not as two halves within a single regional government.
The report addressed what it described as the "pivot doctrine," which refers to a US-led economic security structure between Iraq and Syria, or Mesopotamia and the Levant, reflecting the regional application of the National Security Strategy issued by the US administration in December, which affirms that energy and the economy are the tools of US power in the Middle East, and views the region as a destination for investment, not a military burden.
According to the report, the appointment of Tom Barrack himself reflects this vision, as he assumes the position of ambassador to Turkey, in addition to being a special envoy to Iraq and Syria, making him responsible for the three files, indicating that the agreements that followed with Chevron and HKN in Iraq, and ConocoPhillips in Syria, reflect a practical application of this strategy.
He added that Turkey, within this system, is not just one of the three equal countries, but also represents the market, the transit center, and the gatekeeper of security. The peace process it is leading with the Kurdistan Workers' Party is supposed to determine whether the Kurdish networks will act as a link or remain a source of threat. He considered that the goal is to shift the center of gravity towards the infrastructure, and to move from the principle of holding territory to controlling the systems that make that territory effective. This crystallized during the war with Iran and the closure of the Strait of Hormuz, which showed the extent to which regional energy depends on a single chokepoint.
The report explained that the corridors currently being established through Syria and through Turkey aim to eliminate this dependency, noting that the fall of the Assad regime made the Syrian corridor possible, after it was replaced by a government allied with Turkey. This process allowed Washington to direct Iraq’s connectivity through Syrian and Turkish territory away from Iranian influence, thus reducing Tehran’s influence in Iraq through a route not linked to the Iraqi government itself.
He pointed out that a new American approach is taking shape across these three countries, relying less on direct military force and more on interconnection, energy corridors, economic integration, and sharing regional burdens. He added that these issues are no longer being managed as separate tracks, but rather simultaneously to achieve a common goal of limiting Iranian influence, creating alternative routes for trade and energy, and more closely linking Iraq and Syria with Turkey and regional networks allied with the United States.
The report also addressed how Turkey frames the peace process with the Kurdistan Workers' Party (PKK), presenting it not as a local settlement, but as a necessary process for achieving regional stability. It noted that the report of the parliamentary committee responsible for this process invokes the figures of King Saladin and Sultan Alp Arslan, to frame the Kurds and Turks as historical partners, and views the Kurdish populations in neighboring countries as part of the same issue, so that the Kurds throughout the region become a source of Turkish influence, rather than being viewed as a security responsibility.
According to the report, the American and Turkish approaches intersect in this framework, describing them as “not identical, but compatible,” noting that the Kurdish actors have become, within this emerging framework, important nodes, but the Kurds are not dealt with as a unified bloc, but rather as separate actors, each with a specific role, indicating that this idea appears more clearly in Iraq, especially in the roles of the Kurdistan Democratic Party and the Patriotic Union of Kurdistan.
He pointed out that oil is mainly concentrated in the areas of influence of the Kurdistan Democratic Party, along with the Ibrahim Khalil crossing and the pipeline linking it to the Turkish port of Ceyhan, while gas, which has become more important, is almost entirely concentrated in the areas of influence of the Patriotic Union of Kurdistan. He stressed that this reality gives both parties special importance, but at the same time it strengthens the position of the Patriotic Union of Kurdistan, because gas has become at the heart of the next stage of regional energy plans.
In this context, he noted the expansion of the production capacity of the Khor Mor field, the completion of the pipeline linking it to the Sulaimaniyah power plant, as well as the increase in gas sales from the Chemchemal field, stressing that this gas reinforces the trend aimed at reducing dependence on Iran on two levels; the first within Iraq, as it can replace Iranian gas that still feeds nearly a third of the electricity production in the areas under the control of the federal government, and the second through export to Turkey, coinciding with the end of Ankara’s contract to import Iranian gas, amounting to about 9.6 billion cubic meters annually, during this month.
According to the report, the Patriotic Union of Kurdistan (PUK) has also gained additional importance in the context of the peace process. It noted that its close relationship with the Kurdistan Workers' Party (PKK) was previously a cause of strained relations with Turkey, but the current stage, which requires political management and regional integration, has made this relationship a useful factor, as it can help manage the relationship between the PKK, the Syrian Democratic Forces (SDF), and Turkey.
He considered that this does not mean that the Patriotic Union of Kurdistan replaces the Kurdistan Democratic Party, but rather that each of them plays a different role, explaining that the Kurdistan Democratic Party still constitutes a axis for the oil sector, for border interdependence, and for the Kurdish-Turkish network existing in Iraq, although this role has become narrower, while the Patriotic Union of Kurdistan has become more central in gas files, political channels through Sulaymaniyah, and managing files related to the Kurdistan Workers’ Party.
The report emphasized that within this broader framework, Kurdish actors have become regional linkages, positioned between Iraq, Syria, and Turkey, providing communication channels that states cannot use directly, or prefer not to use publicly. It explained that this explains why key Kurdish issues pass through Erbil and Sulaymaniyah, and not just through state capitals.
He noted that when the commander of the Syrian Democratic Forces, Mazloum Abdi, needs to discuss the future of the Syrian Kurds with Washington, the meetings are held in the Kurdistan Region. He added that Kurdish leader Masoud Barzani received Abdi and Tom Barrack at his residence in Pirmam during January, while Bafel Talabani received them near Sulaymaniyah in February, and Kurdistan Region President Nechirvan Barzani received them in June.
The report stated that the PKK disarmament ceremony was held near Sulaymaniyah, while also mentioning the existence of a permanent (American-Syrian-Turkish) "working group" in which Tom Barrack, who led the negotiations aimed at pushing the Syrian Democratic Forces towards integration into the Syrian army, is involved.
According to the report, Barak stressed the need for a single nation-state with which the United States would deal, and he also expressed his admiration for the Turkish peace process.
According to the report, all of this also explains why the two-year deadlock in the Kurdistan Regional Government's cabinet has generated only limited external pressure, as oil continues to be transported from the Kurdistan Democratic Party's fields regardless of who is running the cabinet, while gas is transported from the Patriotic Union of Kurdistan's fields on the same basis.
He noted that this American vision carries one contradiction, which emerged during this week, namely that weakening Iran leads, in return, to strengthening Turkey's power, indicating that US President Donald Trump described Turkey, during the recent NATO summit, as an "extraordinary ally," and indicated that he would lift the ban on selling it F-35 fighter jets, while Israeli Prime Minister Benjamin Netanyahu said, on the same day, that this deal would destroy the regional balance of power.
The report added that the question raised after the Strait of Hormuz crisis is no longer whether Iranian influence will decline, but rather who will fill the void left by Iran, noting that Israel does not want Turkey to be the party to assume this role.
He concluded that the Kurds had become one of the pillars upon which the new regional order rested, and that the main strategy was based on strengthening connectivity through roads, pipelines, trade corridors, gas networks, ports, and political corridors.
The report concluded by saying that Kurdish actors have become one of the links that make this system possible, explaining that the Kurds "are not the architects of this system, but they have become part of the structure that brings Iraq, Syria and Turkey together within it."
Iraqi oil is attracting Chinese refineries as demand for Iranian crude declines and floating storage rises.
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Iraq has benefited from the shift of independent refineries in China towards purchasing crude oil not subject to sanctions, after they resorted in recent weeks to increasing their purchases of crude oil from Iraq, the UAE and Qatar, at a time when Iranian oil sales have slowed and the volume of floating stockpiles at sea has increased with the return of US sanctions.
Traders said that independent Chinese refineries in Shandong province purchased between 16 and 20.5 million barrels of Iraqi, Emirati, and Qatari crude oil, marking the largest purchase of non-sanctioned Middle Eastern oil since the start of the conflict. Shenghong Petrochemical also bought approximately 12 million barrels of Iraqi, Saudi, and Abu Dhabi crude.
Reuters added, based on data from Kpler, Vortexa and UANI, that increased supplies from Iraq and the Gulf states contributed to displacing demand for Iranian crude, especially after the resumption of exports through the Strait of Hormuz, as competing crudes were sold at discounts ranging between $5 and $8 per barrel compared to Brent crude, while discounts for Iranian oil remained at only $2 to $3, making it less attractive to buyers.
Conversely, the volume of Iranian oil stranded at sea increased after exports surged during the temporary truce, but sales slowed as buyers held back. Kpler data showed that approximately 34.5 million barrels of Iranian crude oil transited the Strait of Hormuz between June 14 and July 10, while Vortexa estimated loadings of around 30 million barrels between June 15 and July 6.
Kpler data also indicated that China’s imports of Iranian oil so far in July have reached about 556,000 barrels per day, the lowest level since January 2023, while traders expect Iranian sales to rebound next week if discounts on August and September shipments increase.
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