The Central Bank of Iraq told Rudaw: We are not responsible for the difference between the official and parallel exchange rates for the dollar.
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Iraqi Central Bank denies responsibility for dollar exchange rate gap
Alaa al-Fahd, the media official for the CBI, told Rudaw that the current discrepancy in exchange rates "is a result of new measures taken due to the implementation of the ASYCUDA [the Automatic System for Customs Data] system in customs tariffs," adding that most traders "have turned to the unofficial market to finance trade that is not official in order to evade taxes and customs.”
The electronic automation ASYCUDA system was developed by the United Nations Conference on Trade and Development (UNCTAD) in the early 1980s and now covers all 22 of Iraq’s federal border crossings, including key ports in southern Iraq.
The system, which is used to standardize and digitize customs processes, has been introduced in Iraq as part of broader reforms aimed at increasing transparency and improving revenue collection.
However, according to the CBI, the transition has also pushed some traders to seek foreign currency outside official banking channels.
“The Central Bank has attempted to bring all traders, even small-scale ones, into the official market and to conduct the financing of foreign trade through international banks,” Fahd said.
The Iraqi dinar has been under sustained pressure in recent months. As of Wednesday, the exchange rate in the parallel market stood at 1,530 dinars per US dollar, significantly weaker than the official rate of 1,320 dinars.
Fahd stressed that the Central Bank should not be held accountable for the higher market rate “because it is related to financing demands for trade that is not official.”
Last week, the CBI Governor Ali al-Alaq said there are no plans to change the dinar’s exchange rate, stressing that the bank’s foreign reserves remain strong and that recent market speculation is misplaced, while confirming that the government is pressing ahead with customs reforms, including ASYCUDA system and new tariffs.
“There is great confusion occurring,” Alaq told Rudaw, adding that the CBI “is not studying the topic of changing the exchange rate.” He said such a decision would only be considered if Iraq faced an inability to meet demand for foreign currency due to weak reserves, which he said is “not the case at the present time.”
Fahd's remarks come as Iraq’s banking sector undergoes scrutiny and reform. To date, 22 Iraqi banks have been barred from dealing in US dollars, a move linked to compliance and regulatory concerns.
Addressing the issue of banking reform and sanctioned banks, Fahd said the Central Bank has a plan and effort “for banking reform in coordination with the Oliver Wyman company to develop banking operations and financial compliance according to international standards.”
Offering reassurance about the progress of the reform program, he stated that “this plan with Oliver Wyman has reached an advanced stage and, upon completion, the banking sector - including all government and private banks - will be developed.”
According to official data, Iraq currently has 64 banks and 101 banking and non-banking financial institutions. Of these, 70 are banking financial institutions and 31 are non-banking institutions. More than 67,000 companies manage their financial affairs through these entities.
The Central Bank of Iraq issues 9 recommendations to banks to prevent fraud using artificial intelligence.
The Central Bank of Iraq warned licensed banks against forgery and fraud operations carried out through artificial intelligence technologies, and issued 9 recommendations in this regard, including biometric auditing of transactions and preventing data leakage abroad.
Al-Rasheed Bank announces an increase in the deposit limit for the "Nakheel" card to 25 million dinars.
Rasheed Bank announced on Wednesday an increase in the deposit limit for its Nakheel card to 25 million Iraqi dinars.
In a statement received by the Iraqi News Agency (INA), the bank said, "The bank has decided to increase the deposit limit for the Nakheel card to 25 million Iraqi dinars in a move aimed at expanding banking services offered to cardholders and enhancing the flexibility of financial transactions."
The bank explained that "this decision comes within its plan to develop electronic banking products and facilitate deposit, withdrawal, and transfer operations in line with the requirements of customers benefiting from the card's services."
The bank emphasized that "this increase will allow Nakheel cardholders to manage their funds with a higher limit, which will contribute to supporting daily financial activities and simplifying banking procedures."
Strategies for dealing with rising prices
Rising prices represent one of the most serious economic challenges facing contemporary societies, due to the direct impact they have on living standards and social stability.
Addressing this phenomenon cannot be done through partial measures or temporary decisions, but requires a comprehensive vision that integrates governmental, economic, and societal roles within a clear framework that balances protecting the citizen and sustaining the economy.
Addressing rising prices begins with the state’s role in regulating the market and preventing price chaos, through activating regulatory bodies and tightening penalties for cases of monopoly and price manipulation.
The absence of effective oversight allows some merchants to exploit crises and raise prices unjustifiably, exacerbating the suffering of citizens and undermining confidence in economic policies. Furthermore, government intervention in setting price ceilings for essential goods, particularly food and medicine, is a necessary step during periods of high inflation to safeguard livelihoods.
Furthermore, the importance of economic measures aimed at stabilizing citizens' income and purchasing power is paramount, as it mitigates the impact of price increases across all segments of society. Income stability is a fundamental element in combating inflation, as it limits the ongoing erosion of the ability to meet basic needs. Similarly, maintaining a strategic reserve of essential commodities is a crucial tool for absorbing price shocks and preventing sudden market crises.
The price crisis cannot be separated from weak domestic production and excessive reliance on imports. Strengthening domestic agriculture and industry will help reduce import costs and mitigate the volatility of global prices, granting the economy greater independence and stability.
This requires providing a supportive environment for local producers through soft loans, reducing production costs, and protecting the national product from unfair competition.
Monetary policy also plays a pivotal role in curbing inflation by controlling liquidity and maintaining exchange rate stability. Currency fluctuations directly impact commodity prices and erode citizens' purchasing power. Therefore, coordination between fiscal and monetary policies is essential for the success of any economic approach aimed at achieving price stability.
The societal and media roles are no less important than the governmental role. Consumer awareness contributes to rationalizing spending and reducing unnecessary demand, while organized boycotts of overpriced goods constitute an effective means of exerting pressure on markets. The media is expected to act as a watchdog by exposing instances of exploitation and promoting transparency in commodity pricing, thereby strengthening public trust and curbing illicit practices.
The rise in prices cannot be viewed as a passing crisis or a temporary circumstance, but rather as a structural challenge that requires deep treatment that goes beyond superficial solutions. Continued inflation without a real confrontation threatens social peace, weakens citizens’ confidence in state institutions, and gradually leads to the erosion of the middle class and the widening of the economic gap.
Al-Araji: The framework will not change its candidate due to American pressure... and the decision will be made next week.
The head of the Reconstruction and Development bloc, Bahaa al-Araji, confirmed on Tuesday that the coordination framework “will not change its candidate for the next government due to an American decision,” stressing that the issue of the premiership is “a purely Iraqi matter.”
Al-Araji told Shafaq News Agency that the framework "is looking at the candidate's acceptability within the framework and other political blocs," indicating that the coordinating framework will hold a meeting next week "and will come up with a candidate for the position of Prime Minister, whether it is Nouri al-Maliki or another candidate," denying the existence of "any special American message to the coordinating framework."
He added that the selection of Mohammed Shia al-Sudani as a replacement for al-Maliki for the premiership "is due to the coordination framework," noting that custom and tradition dictate that the Reconstruction and Development bloc is the largest bloc in parliament and the coordination framework.
The issues of deciding on the presidency, the Iranian-American escalation, and accelerating the formation of the new government topped the agenda of the coordination framework meeting held last Monday night, without mentioning the name of its candidate for prime minister, the leader of the State of Law Coalition, Nouri al-Maliki, even though the meeting was dedicated to deciding on this issue.
Prior to that, in an interview with Agence France-Presse, Maliki confirmed his commitment to running for the premiership and not withdrawing, noting that his nomination came as an agreement within the coordination framework.
According to informed sources close to the political decision-making center, Maliki realizes that his withdrawal will be interpreted as yielding to American objections, while leaders within the framework fear that withdrawing his candidacy will be understood as a response to the same pressure, making the decision costly internally for both sides.
Those sources told Shafaq News Agency that this complication has disrupted the holding of official meetings of the framework during the past days, with consultations moving to side channels and mediation attempts to persuade him to back down without burdening any party with the cost of public concessions, indicating that leaders in the framework have begun discussing gathering a majority to vote to withdraw his nomination in a meeting expected in the coming hours.
The coordinating framework, which includes ruling Shiite political forces in Iraq, is witnessing a division over the nomination of Maliki for the next government, amid American warnings of the repercussions of his selection, which prompted forces within the coalition to try to persuade him to withdraw in order to preserve the unity of the framework.
The escalating American pressure on Iraq comes as a translation of the threats of US President Donald Trump, which included criticism of the path taken by Maliki during his two consecutive terms as head of government between 2006 and 2014.
Rubio briefs Congress on developments regarding Iran in a closed session
ABC News, citing a U.S. official, reported that U.S. Secretary of State Marco Rubio will brief congressional leaders on the Iran issue in a closed session ahead of his State of the Union address on Tuesday.
This comes amid tensions with Iran and nuclear negotiations, as US President Donald Trump prepares to deliver his "State of the Union" address to Congress, his sixth address to the legislative body and his second in his second term.
The "State of the Union" address is delivered amid deep internal political tensions and external challenges facing the United States of America.
According to American websites, the date for the "State of the Union" speech is officially set for Tuesday, February 24, 2026, and will begin at 9:00 PM Eastern Time (ET), (3:00 AM Wednesday Baghdad time).
"Iran is a sinking ship": A report details the distancing of its allies in Iraq.
Analysts say that Tehran could become a "sinking ship" and be forced to loosen its grip on Iraqi politics, which is pushing pro-Iranian Iraqi leaders to distance themselves from it, especially given the weakness it suffers and the possibility that US President Donald Trump might resort to the option of war against it.
The Abu Dhabi-based English-language newspaper , The National , quoted Renad Mansour, a researcher at the British Chatham House think tank, as saying that some Iranian-backed officials in Iraq view Iran as a "sinking ship." He explained that what they are witnessing is that Iraqi actors close to Iran realize that a sinking ship is not good for their power in Iraq, as stability for these groups means their economic prosperity, so they do not want to sacrifice that.
The newspaper noted in its report that the threat of American strikes comes as Iraq is trying to form a new government, pointing out that Iran usually has great influence over whoever assumes the premiership in Baghdad, but there are indications that things have changed.
The report quoted Michael Knights, a researcher at the American company Horizon Engineering, as saying that "they have to choose an elected prime minister in the midst of this and they have no idea whether the Islamic Republic will still exist by the time that person is appointed," adding that what is happening will force "Iran's friends to choose someone allied with the West and the Arab world."
While the report noted Iran’s suffering since the Gaza war and the attacks against its facilities last summer by the United States and Israel, it quoted Chatham House researcher Galip Dalay as saying that the Iranian regime’s position in the region has become weak and its ambitions have declined throughout the region, explaining that “for Middle Eastern leaders, the threats have changed, and the biggest risks are now an expansionist and aggressive Israel, and the chaos of an Iranian state that is likely to collapse.”
The report quoted Dalay as saying that if the United States decides to launch strikes against Iran, Tehran’s influence may decline further, along with that of its regional proxies. He explained that the result could be that “Iranian influence, which is still strong in Iraq, may become weaker, Hezbollah in Lebanon will become weaker, and the Houthis in Yemen will also lack a patron.”
He adds that if Iran is attacked, its proxy groups could launch attacks on US military bases - although there were no such counterstrikes during last year's war.
As for Mansour, if "the scope of the air strikes is similar to the June War, then Iraqi resistance groups supported by Iran, such as (Kataib Hezbollah), could attack US allies or bases in Iraq and the region."
The report quoted Bente Schiller, a researcher at the Heinrich Böll Foundation, as saying that the countries hosting these military bases could also become a target, explaining that "if the regime in Tehran believes it has nothing to lose, it is likely to focus its retaliation on the American bases in the host countries," adding that "as a result, Iran may consider these countries legitimate targets as well." This is why regional countries are pushing for a diplomatic solution.
According to Schiller, the region fears that unrest and instability in Iran could harm its own interests, noting that Tehran has previously threatened to close the Strait of Hormuz if it is attacked, a move that would choke off a fifth of the world's oil flows.
The report quoted Schiller as saying, "It is a weak point in terms of the economy, because war would increase the risks for this crucial point in international trade."
With US blessing, Sudani seems set for second term while Maliki clings to nomination
Iraqi analysts said on Monday that former premier Nouri al-Maliki’s chances of winning the premiership are quickly eroding, given wariness by members of the Framework Coalition and other influential Iraqi forces over the dire consequences of a confrontation with the US administration.
US President Donald Trump signalled last month that American support for Iraq could be reconsidered should Maliki return to the premiership. Such warnings suggest that a direct path to his nomination could place Baghdad in the midst of a financial and political crisis, potentially destabilising the country’s fragile recovery.
The prospect of a US aid cut or diplomatic cooling presents the Coordinating Framework with a stark dilemma: how to preserve Shia unity and protect party interests without provoking a showdown with Washington that could strain Iraq’s economy and external relations.
“I’m hearing that the Great Country of Iraq might make a very bad choice by reinstalling Nouri al-Maliki as Prime Minister,” Trump wrote then on Truth Social, last month. “Last time Maliki was in power, the Country descended into poverty and total chaos. That should not be allowed to happen again. Because of his insane policies and ideologies, if elected, the United States of America will no longer help Iraq.”
Despite Maliki’s clinging to the nomination since the US veto, outgoing Prime Minister Mohammed Shiaa al-Sudani seems on an unhindered path to a second term, boosted by economic interests that he is skilfully leveraging with a transactional administration.
This view appears to be supported by the Sudani government’s signing of an agreement with the US oil company Chevron on Monday.
The prime minister’s office said Sudani, US Special Envoy Tom Barrack and US Chargé d’Affaires Joshua Harris attended the signing of two agreements on Monday. It explained: “The first was concluded between Basra Oil Company and the US-based Chevron Corporation concerning the transfer of management of the West Qurna 2 field. The second was signed with Dhi Qar Oil Company and North Oil Company for the development of the Nasiriyah field and four exploratory blocks in Dhi Qar Governorate, as well as the development of the Balad field in Salah Al-Din Governorate”.
Basra Oil Company had previously signed a deal with the US-sanctioned Russian Lukoil Company.
“Today marks a significant milestone for the people of Iraq and for one of America’s leading energy companies, Chevron,” said Barrack. He added that the “partnership reflects strong support” for President Trump’s vision of “promoting peace through shared prosperity in the Middle East.
“American investment in Iraq creates new opportunities for growth, generating jobs, enhancing economic resilience and advancing a future of mutual prosperity,” he said.
- “Unprecedented fracture”
In the meanwhile, consensus in favour of Maliki’s nomination within the Framework coalition continues to recede.
Kurdistan24 quoted Aqeel al-Rudaini, spokesman for the Nasr (Victory) Alliance, which is a member of the Coordination Framework, as saying that the parliamentary majority bloc faces an “unprecedented fracture”.
He said that the Framework is “divided into two camps: one opposed to Maliki’s candidacy from the outset, and the other insisting on his continuation. “In future meetings, the discussion will focus on whether Maliki remains or if another candidate is designated.
“Any decision made must be by the consensus of the parties within the Coordination Framework,” al-Rudaini said
In the meantime, Maliki reiterated on Monday that he will not withdraw his nomination while also seeking to allay Washington’s concerns over pro-Iranian militias by pledging to centralise weapons in the hands of the state.
“I have absolutely no intention of withdrawing out of respect for my country, its sovereignty and its will,” Maliki said in an interview.
“No one has the right to say whom we can or cannot vote for,” the power-broker added.
“I will not withdraw until the end.”
Iraq’s new premier will be expected to address Washington’s long-standing demand that Baghdad rein in Tehran-backed factions that are designated terrorist groups by the US.
Maliki said that Washington has conveyed several messages to Iraqi leaders.
“They seek changes in the state’s policies,” he said.
Washington’s concerns include the future of the Hashed al-Shaabi, a former paramilitary alliance that has integrated into the armed forces, as well as disarming pro-Iran armed factions and accusations that some Iraqi entities are helping Iran evade US sanctions on oil exports.
Maliki sought to reassure the US.
“In fact, what America wants is not new. These are our demands,” he said.
“We want weapons in the hands of the state. We want a centralised military force. We have said it repeatedly: we want one army under one command, directly under state authority.
“It’s quite possible” to achieve a deal with pro-Iran armed factions, he added.
“There is a good basis for understanding with the factions” but this could not happen “through force, war or confrontations,” he said.
Maliki added that he believes factions “do not want to expose Iraq to any danger.”
Washington has also demanded that the eventual Iraqi government exclude Iran-backed armed groups, an issue that is under discussion, according to Maliki.
Some of these groups have increased their presence in the new parliament and have seen their political and financial clout increase.
After decades of conflict, Iraq has begun to enjoy some stability in recent years, yet its politics remain volatile, shaped not only by internal disputes but also by regional dynamics.
Today, all eyes are on negotiations between the US and Iran over Tehran’s nuclear programme, with a third round of talks scheduled for Geneva on Thursday.
With fears rising that Iraq could be dragged into a war if the US strikes Iran, Maliki vowed to prevent attacks on diplomatic missions in Iraq if he becomes prime minister.
“All countries can be assured that we will prevent any violation against their embassies or officially recognised interests in Iraq,” Maliki said.
“We will not allow any party to target any country that maintains a diplomatic presence.”
Previously, Iran-backed armed groups attacked US missions and troops in Iraq.
But Maliki defended Iraq’s relations with Iran, which he said “rest on the principle that Iraq’s sovereignty is respected” and that “shared interests define this relationship”.
“We share a 1,300-kilometre border and mutual interests with Iran,” he added.
Maliki warned that “if Iran cut off our natural gas supply … it would be a major catastrophe.”
Iranian Foreign Ministry: We are ready to take any necessary step to reach an agreement with Washington.
Nice, if true.
The Iranian Foreign Ministry confirmed Tehran's readiness to take any necessary step to reach an agreement with Washington.
The Iranian Foreign Ministry said in a statement, "We hope that America will show a desire to reach a nuclear agreement, and we are ready to take any necessary step to reach an agreement."
It added, "We are ready to reach an agreement with America as soon as possible," while considering any American strike on Iran to be "a real gamble."
Araghchi: An agreement with America is within reach, and we will strive to reach a peaceful solution.
Iranian Foreign Minister Abbas Araqchi confirmed on Tuesday (February 24, 2026) his country’s determination to resume talks with the United States in Geneva to achieve a fair and equitable agreement as soon as possible.
Araghchi said in a press statement that "Iran will not develop a nuclear weapon, but at the same time it will not give up its right to harness the benefits of nuclear technology," noting that "there is a historic opportunity to reach an unprecedented agreement that addresses common concerns and achieves mutual interests."
He added that "an agreement with America is within reach, provided that diplomacy is prioritized," stressing that his country "will not hesitate to do anything to courageously protect its sovereignty, and we will strive to reach a peaceful solution to any disputes."
A third round of talks is scheduled for Thursday in Geneva, mediated by Oman, but reaching an agreement will be "a difficult task" given the depth of the disagreements, according to a report published Monday by the US-based International Crisis Group.
Iranian Foreign Minister Abbas Araqchi is expected to present a "first draft" of the text to the American team, which includes envoy Steve Wittkopf and Jared Kushner, the son-in-law of the American president.
Iraq faces new US deadline to withdraw Nouri Al-Maliki nomination
Iraq’s Shiite Coordination Framework (CF) has until February 27 to withdraw Nouri Al-Maliki’s nomination for prime minister, a senior source within the alliance told Shafaq News on Tuesday.
The deadline was discussed during a meeting held on Monday, where Al-Maliki made clear he would not step aside, adding that any reversal would have to come from the bloc that nominated him.
The Framework, parliament’s ruling bloc, is expected to convene again before Friday, with discussions focused on rallying a majority to revoke his nomination. Still, Reconstruction and Development parliamentary bloc leader Bahaa Al-Araji, speaking to Shafaq News earlier today, stressed that the CF will not change its nominee for prime minister because of “any US decision.”
A US State Department spokesperson previously told our agency that President Donald Trump’s position remains unchanged and that selecting Al-Maliki would prompt Washington to “reassess its relationship with Iraq.” US Special Envoy to Syria Tom Barrack also reiterated during meetings in Baghdad and Erbil that Washington opposes Al-Maliki’s candidacy and outlined potential measures if it proceeds, according to the source.
International development is moving towards three investment categories in Iraq.
The International Development Bank announced the launch of three new financial and investment products targeting investors, entrepreneurs, startups, and small and medium enterprises, in a move that the bank says aims to enhance liquidity, stimulate economic growth, and empower the private sector through flexible solutions with competitive returns.
The bank stated that the new products came in response to the market's need for more flexible financing tools that help with expansion and support financial stability within a safe banking environment.
The bank stated in a press release that the three products include a profit account, which offers customers a 6.5% profit rate paid upfront, providing immediate liquidity for reinvestment or managing financial obligations from day one; project finance loans with a reduced interest rate of 3.5% to support business growth and accelerate expansion, enabling startups and SMEs to enhance productivity and create jobs; and an investment deposit account with annual returns of up to 10% distributed monthly, providing investors with a regular income, as confirmed by the bank.
In a move that it said comes within its social responsibility and in consideration of the humanitarian dimension, the International Development Bank announced the postponement of all installments due during the month of Ramadan for government sector employees, with the aim of easing their financial burdens and enabling them to meet their needs.
Hassan Ali Al-Daghari created a sound banking sector that attracts sound investments.
Expert Hassan Ali Al-Daghari stressed that building a solid financial sector is the cornerstone for attracting investments and driving the economy, noting that financial stability is not achieved through slogans, but rather through clear policies that enhance trust between investors and institutions concerned with economic affairs.
Al-Daghari said that developing banking systems, modernizing payment tools, and enhancing transparency and oversight would create a safer environment for local and foreign capital, indicating the importance of supporting national banks and enabling them to play a greater role in financing productive projects, especially small and medium-sized enterprises.
He pointed out that the current stage requires the integration of efforts between government agencies and the private sector to establish stable financial rules that keep pace with global changes and respond to the requirements of the local market, stressing that investment always seeks an environment with clear laws and stable procedures, which is what should be worked on seriously during the next stage.
US sanctions threaten an "oil blockade," and the Iraqi central bank may find itself in a "predicament" - Urgent
After the language of escalation and American threats, sanctions began to loom on the horizon, and Iraq may find itself facing an "oil embargo," and the Iraqi Central Bank may be in a "predicament" if Washington implements sanctions against Baghdad.
Sanctions on the financial and oil sectors
Political analyst Wael Munther confirmed in his interview with "Baghdad Today" that "the issue of sanctions that the United States of America may impose on Iraq, whether in the oil or financial sector, is based on legal frameworks and approved contexts that authorize it to prevent dealing with institutions, individuals, or even countries in the financial and economic aspects."
Munther explains that “Washington has the ability to impose sanctions that are not limited to the entities directly involved, but extend to include companies or institutions that deal with them, which means including any party that cooperates with those entities within the circle of financial targeting.”
"The oil embargo" and the search for alternatives
The political analyst points out that “the threat of imposing such sanctions will negatively affect the economic situation in Iraq, especially with regard to the mechanism for exporting oil, as Iraq may find itself in a situation similar to an oil embargo, as a result of the reluctance of international companies that are accustomed to buying Iraqi oil to complete their deals, for fear of being exposed to financial sanctions from the American side, which will push them to look for alternatives in other markets.”
Regarding the sanctions on the Central Bank of Iraq, Munther explained that “any potential sanctions that may affect the Central Bank will directly impact its foreign relations, as international banks and financial institutions will avoid dealing with it, fearing exposure to American punitive measures, which in turn will affect the movement of financial transfers and the country’s foreign trade.”
Baghdad's calculations will change 180 degrees if former Prime Minister Nouri al-Maliki returns to the premiership, after the US President explicitly threatened Iraq that "if al-Maliki, known for his leanings towards Tehran, enters the government through the front door, American protection will be withdrawn immediately."
Trump, known for his sharp words, used three explicit threats in his tweet, expressing his opposition to Maliki's election: "No more aid to Iraq if he wins, no chance for Baghdad to succeed, and the country could sink into chaos and poverty."
This threat should not be read in isolation, but rather within a much broader economic context where the United States already has cards to play on any government in Baghdad that is not to Trump’s liking, and oil, which finances about 90% of the state’s revenues, is at the heart of this equation.
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A member of "Al-Azm": Al-Maliki may withdraw soon... and we must avoid "confrontation"
Ali al-Baydar, a member of the “Al-Azm” coalition, said that the prime ministerial candidate, Nouri al-Maliki, may announce his withdrawal in the coming days.
Al-Bader added to “Ultra Iraq” that “all political forces are required to unify their position on the nomination of Nouri al-Maliki for the premiership,” indicating that “al-Maliki’s replacement must not be disturbing to external parties and must be acceptable to everyone.”
He stressed that "Maliki may announce his withdrawal in the coming days in the interest of the national interest."
According to Al-Baydar, "The international stance has led to a division in political positions regarding the nomination of Al-Maliki, even within the coordination framework."
He pointed out that "Iraq is required to decide on the option of nominating Maliki or to face the crisis and the dark tunnel before the United States of America."
He continued: "We must avoid options that clash with the American administration and look for options that preserve national entitlements."
An economist says reforming private banks is key to stabilizing the dollar and boosting confidence in the financial market.
Economic expert Ahmed Abdel Rabbo confirmed on Wednesday (February 25, 2026) that the Central Bank of Iraq has taken a series of measures during the past period aimed at controlling the exchange market and enhancing financial stability, in light of the monetary challenges that Iraq has recently witnessed.
Abd Rabbo explained in an interview with “Baghdad Today” that the current stage requires speeding up the completion of the private banks reform project, as it is the cornerstone for achieving permanent stability in the dollar exchange rate within the local market, noting that the continued existence of some banks under sanctions contributes to creating bottlenecks in the supply of foreign currency and negatively affects the level of confidence in the banking sector.
Supporting restructuring
He added that it is necessary to intensify efforts to support the work of Oliver Wyman, which is concerned with the restructuring of banks, in order to complete the banking compliance requirements within clear and announced timetables, which will contribute to removing a number of banks from the circle of restrictions and returning them to normal activity in accordance with transparent standards and strict supervision.
Reducing the gap between the two prices
Abdel Rabbo pointed out that achieving tangible progress in this direction will not only reduce the gap between the official and parallel dollar exchange rates, but will also send a genuine message of reassurance to the markets that the path of financial reforms is proceeding steadily, and that monetary stability is no longer a temporary measure, but a long-term strategic option to enhance confidence in the Iraqi financial market.
Over the past two years, Iraq has witnessed fluctuations in the dollar exchange rate as a result of tightening foreign transfer procedures and international compliance requirements, which prompted the Central Bank of Iraq to adopt stricter regulatory and supervisory mechanisms to control the currency sale window and enhance transparency.
Some private banks were also subjected to restrictive measures and sanctions, which affected the supply of foreign currency in the local market and widened the gap between the official and parallel exchange rates.
In this context, the restructuring of the banking sector has emerged as one of the most important paths of financial reform to ensure sustainable monetary stability and enhance confidence in the banking system.
A high-level German delegation told Nechirvan Barzani: We are interested in the stability of the Kurdistan Region and Iraq as a whole.
The President of the Kurdistan Region, Nechirvan Barzani, met this afternoon, Wednesday, with Geza Andreas von Geyr, the German Minister of State for Foreign Affairs, and his accompanying delegation.
The Presidency of the Region stated in a statement that during a meeting between them, they discussed developing Germany’s relations with Iraq and the Kurdistan Region, the latest developments in the political situation in Iraq and the Kurdistan Region, relations between Erbil and Baghdad, and the situation in the region.
The visiting delegation affirmed that Germany views the stability of Iraq and the Kurdistan Region with interest, and expressed their country's desire to continue their joint cooperation in various fields.
For his part, President Nechirvan Barzani thanked Germany for its assistance and support to the Kurdistan Region in all fields, and stressed the importance of a peaceful solution to problems and protecting the stability of the region.
The threats and dangers of ISIS, the situation in Syria and several issues of common interest to both sides were another focus of the meeting, which was attended by the German ambassador to Iraq and the German consul general in the Kurdistan Region.
The US Treasury imposes new sanctions on individuals and entities in Iran.
The U.S. Treasury Department on Wednesday imposed new Iran-related sanctions on individuals, entities and oil tankers, hours after President Donald Trump presented his arguments about the possibility of an Iranian attack in his speech to Congress .
Reuters, as reported by Al-Sa’a Network, stated that the Treasury Department’s Office of Foreign Assets Control imposed sanctions on more than 30 individuals, entities, and vessels allegedly involved in the illegal sale of Iranian oil and in Iran’s production of ballistic missiles and advanced conventional weapons .
She added that "the office also targeted multiple networks that enabled the Iranian Revolutionary Guard and the Ministry of Defense to obtain raw materials and machinery necessary for the production of ballistic missiles and other weapons .
The Iraqi Trade Bank responds to Karbouli: No exceptions in remittances
The Trade Bank of Iraq (TBI) confirmed on Wednesday its full commitment to the instructions of the Central Bank of Iraq and regulatory authorities, stating that all foreign transfers executed through the Central Bank's platform are subject to proper notification and approval .
The bank said in a statement received by Al-Sa’a Network: “With reference to what was stated by MP Mohammed Al-Karbouli during his appearance on a television program regarding the existence of a problem with transfers and his claim of granting exceptions, we would like to clarify that all external transfers executed through the Central Bank of Iraq platform are subject to proper notification and approval, and are carried out in accordance with the applicable regulations and instructions, and the Central Bank and the competent regulatory authorities are provided with the relevant documents after execution .”
He added that "any transfer process can only be implemented after it has been presented to the external auditing firm to complete due diligence requirements and obtain the necessary approvals in accordance with the approved contexts, and there are no exceptions or violations outside the legal frameworks ."
He added that "what was raised regarding invoices and their use more than once is subject to the nature of the contract between the customer and the supplying entity, and within the applicable instructions and controls, and is not considered a violation as long as it is done within the approved fundamental contexts ."
The bank stressed that "the information presented during the episode is not based on accurate facts, and that such information negatively affects the bank's reputation and the confidence of its customers inside and outside the country ."
He explained that "it is more appropriate for the MP to address the bank officially with a formal letter or visit it to inquire and learn the facts instead of presenting this information through television screens, as this is the correct way for regulatory bodies to operate."
He stated that he "reserves the right to take the necessary legal measures to protect his reputation and standing, and to ensure that the facts are clarified to the public ."
He pointed to his "full commitment to the instructions of the Central Bank of Iraq and the regulatory authorities, and his keenness to work with high professionalism and transparency in service of the national economy ."
Earlier, MP Mohammed Al-Karbouli reported a problem with foreign financial transfers, claiming that exceptions were being granted in this matter .
The Kurdistan Regional Government's Council of Ministers calls on Baghdad to send the region's full share of the budget.
Senior US envoy to the Middle East: The US administration renews its refusal to nominate al-Maliki
The new senior official in the White House, the US administration's position rejected the nomination of the leader of the rule of law coalition Nuri al-Maliki for the post of prime minister in Iraq.
According to the London-based Middle East newspaper, “the United States is moving towards Iraq in an effort to realize its full potential for stability and security and security in the Middle East”.
“The government cannot rely on Iran to put Iraq's interests first or to leave Iraq behind in terms of regional conflicts,” he added. or to promote a mutually beneficial partnership between the United States and Iraq.”
A source in charge of Al-Attar Al-Tansiqi discovered that “Al-Atar has obtained a new extension of the US private license to attract the promotion of Maliki”.
He added that the prophecy “It is the day of next Friday”, advised that “the owner has extended the license that he does not want to pull the fire extinguisher, and extended it on the (three) Those who are from Maliki's opinion, they will be nominated and they will not object to it.
Kurdistan demands Baghdad send the region's share of the budget at a rate of 14.1%
The Kurdistan Regional Government’s Council of Ministers called on the federal government on Wednesday (February 25, 2026) not only to fund salaries but also to send Kurdistan’s share of the budget at a rate of (14.1%) according to the population census.
A statement from the Regional Council of Ministers, received by "Baghdad Today", stated that "the Council of Ministers of the Kurdistan Regional Government held its regular meeting, chaired by Prime Minister Masrour Barzani, and attended by Deputy Prime Minister Qubad Talabani, where the meeting focused at the beginning on the issue of salaries and financial entitlements for the citizens of the region."
Minister of Finance and Economy Awat Sheikh Janab reviewed the latest developments related to the financial situation and the issue of financing the salaries for February for litigants, and followed up on the results of the meeting of the joint team of the Federal and Regional Financial Control Offices.
The Cabinet reiterated the need for the federal government to send the Kurdistan Region’s share of the general budget in accordance with the 14.1% quota based on the general census, noting that the region has fulfilled all its financial and oil obligations, and that the region’s Ministry of Finance sends salary lists and audit balances with complete transparency.
The council stressed the need to give top priority to sending the 120 billion dinars for February to Baghdad before any other expenses, to cut off any pretext for delaying the payment of salaries, stressing that all legal and financial documents supporting the region’s entitlements were clarified during the last meeting of the two financial oversight offices in Baghdad.
In another context, the Minister of Peshmerga Affairs, Shorsh Ismail, presented a report on the steps taken to reform and reorganize the forces under the umbrella of the ministry. The council praised this historic step to institutionalize the military forces, and thanked the international partners for their support of this process.
The Cabinet also approved Interior Minister Reber Ahmed’s proposal to extend the decision to exempt citizens from 20% of their traffic fines for an additional six months, until June 30, 2026.
Cash hoarded in home safes and lost trust in bank vaults
At the heart of the banking confidence crisis that is hindering the spread of electronic payments in Iraq, the majority of economic transactions are still conducted in cash, while savings remain completely outside the formal banking system.
However, the average Iraqi citizen manages his daily life entirely by relying on paper money, as he withdraws his salaries in cash, pays for his purchases in cash, and keeps his savings at home away from banks.
Meanwhile, electronic payment cards have become a routine part of daily life in neighboring countries, revealing that Iraq is about twenty years behind in adopting the simplest modern financing tools.
This delay reflects “weak confidence in banks,” as observers describe it, since the huge amount of cash is hoarded inside homes and exceeds 90 trillion dinars, or about 90 percent of the total cash in circulation, according to the latest data from the Central Bank.
In addition, statistics indicate that less than 20 percent of the population has bank accounts, compared to more than 50 percent in Saudi Arabia and the UAE, where digital payments have been commonplace for years.
A Baghdad resident said via Facebook, “I prefer to keep my money at home for fear of any potential banking crisis, as past experiences do not encourage trust.”
A local economic activist stated, “The sector needs radical reforms to build trust, especially with the push to end cash payments in government institutions by July 2026.”
A banking source noted that “electronic transactions grew by 17.7 percent in the first quarter of 2025, but reliance on cash still prevails despite the launch of platforms such as ePassole in the Kurdistan Region.”
Despite these government efforts, the biggest challenge remains convincing citizens of the security of the digital system amid fears of losing or freezing deposits.
Replacing Maliki or facing economic sanctions... Nasif reveals a decisive American warning
MP Alia Nassif, from the Reconstruction and Development Coalition, revealed on Tuesday that there is an American deadline that ends on Friday, related to the prime ministership file, indicating the possibility of imposing sanctions in case of non-compliance.
Nasif said in a televised interview followed by “Al-Mutlaa” that “Nouri al-Maliki’s appointment as Prime Minister is facing difficulty, stressing that there is no official position within the coalition rejecting his nomination,” noting that parties had contacted Syrian President Ahmed al-Sharaa regarding the rejection of al-Maliki. She added that: "Bahaa Al-Araji's tweet represents his personal position, noting that political entities contacted Ahmed Al-Sharaa regarding Al-Maliki's rejection." She explained that:
“The envoy of US President Donald Trump informed the political parties of Maliki’s rejection, warning of sanctions that may include individuals and institutions, indicating that these sanctions may affect the State Oil Marketing Company (SOMO), the Central Bank and banks.” She explained that: “Al-Maliki’s nomination was done verbally, and his appointment requires an official document from the coordination framework, stressing that the President of the Republic will not appoint him without this procedure.” She added that: “The message conveyed by the American envoy, Barak, came at the direction of Trump, indicating that the United States is seeking to return strongly to Iraq.” She noted that: “Al-Maliki pledged to re-nominate Mohammed Shia Al-Sudani, while there is talk of three candidates for the premiership that do not include his name.” As Nasif predicted, Nizar Amidi will assume the presidency, noting that the maritime border issue may push Kuwait towards international arbitration or Iraq's acceptance of relinquishing the maps, criticizing what she described as the Foreign Ministry's failure to deposit the maps.
Economic recession: Erosion of purchasing power deepens the crisis in Iraqi markets
Due to the ongoing economic recession, Iraqi citizens are suffering from the erosion of their purchasing power, which has led them to prefer adopting a conservative spending behavior.
Today, Iraqis are facing an unfamiliar economic scene: houses for sale with no buyers, car showrooms crowded with onlookers but devoid of buying and selling deals, and prices moving faster than people can keep up with them!
Fluctuations in the dollar exchange rate, jumps in the price of gold, delays in salaries, and severe economic and living crises looming on the horizon, all these factors have combined to freeze buying and selling activity in important markets.
Citizens today are adopting a more conservative spending pattern, driven by concerns about economic instability and fluctuating incomes. They are forced to postpone major purchasing decisions, such as buying cars or real estate, or entering into long-term financial commitments.
This trend reflects a prevailing sense of anticipation and caution in the market. There is a preference for holding cash rather than investing it in costly purchases or investments, in anticipation of any unforeseen economic developments.
The Baghdad Provincial Council had attributed the stagnation of the real estate market in the capital to the high amounts of fines and taxes on subdivided houses, indicating during December 2025 that recommendations were nearing completion that included reducing the fine for subdividing houses from five million to 250 or 500 thousand dinars, as well as imposing the tax on the sold area only and not on the entire original plot of land, in an attempt to address this stagnation.
Waiting for the dollar to stabilize
Citizen Abu Ahmed says in a press interview that he put his house up for sale more than four months ago due to financial circumstances, and to this day no serious buyer has come forward. He added in a press interview that everyone who asks about the house backs down when they know the price, or says they are waiting until the dollar prices stabilize.
He points out that in the past, a house would not remain on display for more than a month, but today the market is almost at a standstill.
An ill-advised gamble
Experts attribute this stagnation to the fluctuating exchange rate of the dollar against the Iraqi currency, and the high price of gold, which makes buying and selling real estate and cars an uncalculated gamble.
In this regard, economist Mustafa Faraj says, “There is a direct relationship between the price of gold and the dollar. Gold is a metal priced in dollars, and if the price of the dollar falls, the price of gold rises, and vice versa.”
He then explains that “Iraq is a rentier state and relies heavily on imports. Therefore, it is directly affected by the price of the dollar, especially in the field of cars, which are imported using hard currency,” adding that “the same applies to house prices. The dollar has a significant influence on the Iraqi market.”
He continues, saying that “real estate sales are currently experiencing a recession, which will continue in the coming period,” noting that “the situation of the Iraqi economy is difficult, due to a shortage of financial liquidity, which leads to delays in paying the salaries of state employees.”
According to Faraj, “Many people have resorted to investing in gold in light of the current geopolitical situation in the region. This has led to a surge in demand for gold, which has contributed to its price increase. In addition, there is a lack of trust among citizens in government banks. The fear of keeping money in banks pushes citizens to invest it in gold.”
Paralysis of buying and selling
Real estate office owners and car dealerships also complain of the stagnation and paralysis that has affected their businesses in the past period.
Radwan Al-Yassiri, owner of a car showroom in the Al-Bayaa area of Baghdad, confirms that he and his colleagues are suffering from an almost complete halt in car sales operations, noting in a press interview that “the direct sales area used to witness heavy congestion on Fridays, and the car market would be at its peak activity, but in recent weeks there have been very few sales and purchases.”
He adds that “the decline in car sales and purchases is linked to several factors, including the weak purchasing power of citizens, increased inflation, as well as the high customs duties imposed on car imports, the ban on importing cars that do not conform to specifications, in addition to the fluctuation of dollar exchange rates,” noting that “all these reasons have led to higher car prices, and made citizens hesitant to sell or buy them.”
He notes that “citizens are no longer buying new cars as they used to. Sales have dropped to near zero, and consumers have turned to buying used cars.”
Real estate agents who buy, sell, and rent properties face similar difficulties to those of showroom owners. Abdul Hassan Kadhim, a real estate agent in Baghdad's Jihad neighborhood, says that the last house sale through his office was more than two months ago.
In a press interview, he explains that his current activity is limited to renting houses and organizing rental contracts, indicating that the fluctuation in the dollar exchange rate and the weakness of purchasing power are behind the stagnation of various sectors at the present time.
Erosion of purchasing power
According to specialists, the current stagnation in buying and selling in the real estate and automotive sectors is not a passing event, but may be a long-term indicator of a decline in the local economy.
Khaled Al-Jabri, head of the “Usul Foundation” for Economic Development, says that “what the economy is witnessing today is not a passing slowdown, but rather an actual contraction in demand, resulting from the erosion of the citizen’s purchasing power due to the delay in salaries, the increase in customs duties, and the stagnation of liquidity in
Washington reiterates its rejection of Maliki's nomination and threatens sanctions
link date 2/26/26
The Asharq Al-Awsat newspaper revealed that the United States has once again rejected Nouri al-Maliki's nomination for the Iraqi premiership, threatening punitive measures if he is not quickly replaced.
The newspaper quoted a White House official as saying that a government dominated by Iranian influence would not safeguard Baghdad's interests or its partnership with Washington. It noted that a deadline had been given to the coordinating framework to change the nominee, and reported that Donald Trump threatened sanctions, a halt to aid, and restrictions on Iraq's funds held at the Federal Reserve if the change does not occur.
Egypt's MoneyHash & Iraqi Startup Wayl Partner to Expand E-Payments
The payment orchestration platform is working with Iraqi provider Wayl to help businesses access local payment methods.
MoneyHash, a payment orchestration platform that helps businesses manage and route transactions across multiple payment providers through a single integration, has partnered with Wayl, an Iraq-based payment solutions provider and merchant of record, to support companies expanding into Iraq.
Payment orchestration platforms like MoneyHash sit between merchants and banks, card networks, and digital wallets, enabling businesses to optimise payment flows, reduce failed transactions and manage multiple providers without building separate integrations for each market.
Wayl operates local payment infrastructure in Iraq, providing access to widely used domestic wallets, bank-based payment options and localised checkout systems. As a merchant of record, Wayl can legally process payments on behalf of foreign businesses, handling regulatory and operational requirements within the country.
The collaboration connects MoneyHash’s orchestration layer with Wayl’s on-the-ground payment rails, allowing merchants to accept international card schemes alongside Iraqi payment methods through a unified system.
