Experts warn of the risks of lifting the Federal Reserve's protection on Iraqi funds.
Economic experts have warned of the risks of canceling the Iraqi account at the US Federal Reserve and lifting protection on oil export revenues at the present time, stressing that the sudden move away from American protection may cost Iraq economic and financial losses, which will be reflected in the dinar, the exchange market and the financing of imports.
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Economic expert Mustafa Faraj confirmed that Iraq, theoretically, can manage its oil revenues and reserves without American protection, but practically in the current situation, a sudden transition would be highly risky, explaining that the issue is not simply about transferring funds from one American bank to another, but is linked to the dollar system, correspondent banks, foreign trade settlement, and the central bank’s ability to manage the exchange market.
global financial system
He added that Iraq does not rely solely on the United States to protect its funds, but depends to a large extent on the global financial system, a significant portion of which passes through the dollar.
American financial institutions.
Faraj pointed out that instead of focusing heavily on the dollar, the share of the euro, gold, and convertible Asian currencies could be increased, while managing liquidity risks. He stressed that moving the entire reserve away from the dollar is not a solution because most of Iraq’s oil and import trade is linked to the dollar.
International banking network
He explained that one of the alternatives is to build a multilateral international banking network, by expanding Iraq’s relations with European, Asian and Gulf banks, so that the Iraqi banking system is not dependent on a single channel.
He pointed to the possibility of increasing the use of the euro and local currencies in trade, through clearing agreements with countries such as China, Turkey, India and the Gulf States, explaining that this requires deep markets, a convertible currency and reliable settlement mechanisms.
Strong Iraqi banks
Faraj stressed that strengthening the Iraqi banking sector represents the real alternative, not just replacing the dollar with the yuan or the euro, noting that Iraq needs strong Iraqi banks, internationally audited, committed to anti-money laundering and counter-terrorism financing standards, and connected to a wide network of correspondent banks.
He stated that Iraq can reduce its dependence on American protection in the future, but cannot replace it with a political decision alone at present. He stressed that what is required is to build an alternative financial system first, and then to transition gradually, warning that the greatest danger will not be to the oil money itself, but rather to the dinar, the exchange market, import financing, and the confidence of the banking sector.
Previous financial claims
Economic expert Ahmed Eid said that lifting US protection on Iraqi funds “without creating an alternative legal and financial umbrella may open the door to risks related to legal claims and attempts to seize some Iraqi assets abroad, especially if there are previous rulings or financial claims,” indicating that this “may increase the degree of uncertainty surrounding the management of state funds and its external revenues.”
Official and parallel prices
He added that the most sensitive economic risk is the pressure on the dinar and the decline in its monetary value, and the disruption to the smooth flow of oil and dollar revenues to Iraq, explaining that the economy depends to a large extent on oil revenues to finance public spending.
He added that any disruption in external flows could put pressure on the exchange market, widen the gap between the official and parallel rates, and be reflected in the prices of imported goods, inflation, and purchasing power.
CBI tightens rules for state bank advisers
Iraq’s central bank (CBI) has tightened oversight of advisers at state-owned banks, requiring licensed financial institutions to clearly define consultants’ responsibilities and keep their roles separate from executive management, Shafaq News learned on Saturday.
In an official circular, the CBI noted that the rules apply to both Iraqi and foreign advisers, stressing that experts cannot be given authority to perform executive duties. They are also barred from holding positions or serving on the board of the bank they advise or any other bank supervised by the CBI.
Financial institutions will bear legal responsibility for any violations of the directive, according to the circular.
An informed source also told Shafaq News that some advisers had received substantial payments and benefits, while allegations had emerged that bribes were offered to certain consultants.
Other cases involve specialists who were believed to have followed up on, promoted or facilitated banking transactions, raising potential concerns about conflicts of interest and blurred lines of responsibility.
The source also pointed to individuals who allegedly had little attendance or no clearly defined duties corresponding to their contracts, despite receiving substantial compensation.
“Some contracts may have resulted from favoritism, personal connections or ties to administrative officials,” he said, calling on the government, parliament and the Finance Ministry to review advisory and expert contracts at state-owned banks.
The Central Bank of Iraq regulates the work of consultants and experts, and a source reveals government banking violations.
The Central Bank of Iraq has directed all government banks and licensed non-bank financial institutions to regulate the work of their consultants and experts, ensuring clarity of powers and responsibilities and preventing overlap between advisory tasks and executive roles.
The Central Bank confirmed in a circular that consultants working for financial institutions, whether Iraqi or foreign, are not allowed to be granted any powers to perform executive functions or tasks, stressing the need to separate the advisory role from the executive management of the institution.
The circular also stipulated that the advisor should not assume any position or hold membership on the board of directors of the same bank or any other bank he works for, holding the institution concerned responsible for the legal consequences of violating this.
In this context, an informed source told Shafaq News Agency that there are cases of contracting with a number of experts and consultants in some government banks, which he said were done under conditions that do not conform to the nature of consulting work or the applicable regulations.
The source explained that some consultants occupy or interfere in senior administrative positions and powers within banks, exceeding the advisory role assigned to them, in addition to some of them receiving privileges and large sums of money, while he spoke of allegations regarding bribes being offered to some consultants.
He pointed out that there are cases where it is believed that some consultants are responsible for following up on, promoting, or monitoring transactions within the bank, which may raise questions about conflicts of interest and overlapping jurisdictions.
He added that there are cases of consultants who do not attend or do not perform clear tasks that are appropriate to the nature of their contracts, despite receiving high sums of money, noting that some contracts came about, according to what he stated, as a result of favoritism, nepotism or personal relationships with administrative officials or certain entities, and these are claims that need to be investigated and reviewed by the competent regulatory authorities.
The source called on the relevant authorities, the Ministry of Finance, Parliament and the government to review the contracts of consultants and experts in government banks, and to verify the actual need for their services, and the extent to which their qualifications, tasks and rewards comply with legal controls, calling for the cancellation of contracts that are proven to be unnecessary or to be in violation of applicable instructions.
He pointed out that reviewing this file would reduce unnecessary expenses, prevent overlapping jurisdictions within banking institutions, and promote the principles of governance, transparency, and accountability, stressing that the consultant should play his role in providing opinion and expertise without becoming a party in the executive management or the daily administrative decision-making of the bank.
The 2027 budget will be presented to Parliament in mid-October; the ratification of some contracts depends on the economic situation.
The Parliamentary Finance Committee announced on Saturday that progress has been made in preparing the 2027 budget, noting that it will include the regularization of some contracts and appointments for the top three graduates and senior positions. However, the implementation
of these measures remains contingent on the country's security and economic situation.
Committee member Jamal Kojar stated in a press release followed by Al-Mada that discussions regarding the 2027 budget are ongoing. He explained that the government has developed a program that is being continuously updated with data, while the Ministry of Finance is holding regular meetings with spending units in ministries and governorates, with the participation and periodic monitoring of Finance Committee members.
Kojar added that there is progress in preparing the budget, indicating that, "according to the Minister of Finance, the budget will be presented to Parliament on October 15th."
He clarified that, "According to statements by the Prime Minister and the Minister of Finance, the budget will include the regularization of some contracts and appointments for the top three graduates and senior positions," pointing out that its implementation "remains contingent
on the country's security and economic situation. If we proceed with increasing the quantities of oil sold, this may be achieved, but if the situation deteriorates, everything is subject to change."
Regarding the oil price adopted in the budget, Koger said that the oil marketing company SOMO proposed estimating the price per barrel between $53 and $56, while the government's opinion ranges between $60 and $70 per barrel.
Al-Zaidi's visit to Europe: A step towards global economic openness
Economic experts and specialists confirmed that Prime Minister Ali Faleh al-Zaidi’s European tour, which will begin in France and Germany, aims to strengthen economic partnerships and attract investments between Iraq and the European Union countries, noting that it will witness the signing of agreements and memoranda of understanding in economic fields.
Member of Parliament, Nasser Turki, said: “Prime Minister Ali al-Zubaidi’s visit to France, Germany and European countries will be important, because it aims to make Iraq a leading country in international relations that are open to the world, based on mutual respect and non-interference in internal affairs, and based on common interests that serve all parties.”
Turki explained that “among the most important files that the Prime Minister pays great attention to are the files of energy, electricity, oil, technology and the petrochemical industry, as well as attracting foreign capital to support the industrial, agricultural, transportation and communications sectors,” stressing that “the Prime Minister is very determined that this visit be practical and not just paper agreements, but a practical reality that brings good and tangible results to Iraq and its people.”
Important agreements
For his part, economic researcher Jalil Al-Lami stressed that “the Prime Minister’s European tour to France and Germany carries great economic importance, because it aims to move the relationship with the two largest and most influential economies in the European Union from the level of trade exchange to the level of investment, industrial partnerships and technology transfer, especially in the energy, electricity, industry, transportation, infrastructure and technology sectors.”
Economic partnership
Al-Lami explained in an interview with Al-Sabah that “the European Union represents an important economic partner for Iraq, as the volume of trade in goods between Iraq and the EU countries reached about 18.2 billion euros during 2025, of which 12.7 billion euros were Iraqi exports to Europe compared to 5.5 billion euros in European exports to Iraq, while machinery and transport equipment alone accounted for about 2.3 billion euros, or 41 percent, of European exports to the Iraqi market.”
He added that “the volume of trade between Iraq and Germany reached about 2.85 billion euros during 2025, of which 1.416 billion euros were German exports to Iraq and 1.431 billion euros were German imports from Iraq,” noting that “the balance of German direct investments in Iraq did not exceed 25 million euros according to the latest data for 2024, which is a very modest figure compared to the size of the two economies and the opportunities available in Iraq, and therefore the visit could aim to raise the level of German investment and not just trade.”
German companies
He pointed out that "there is an important Iraqi proposal that was put forward before the visit, which is to establish a joint Iraqi-German fund to finance projects for developing Iraqi industry in cooperation with the German side, which may open the way for German companies to enter into the rehabilitation of factories, energy, electricity and technology, and the transfer of production lines and expertise."
"Inside Iraq."
Regarding France, Al-Lami explained that “France has a larger investment base in Iraq, most notably Total Energies’ integrated energy project, with investments amounting to approximately $27 billion, in addition to new cooperation between the Iraq Development Fund and the French state investment bank to support investment opportunities.”
"And the business between the two countries."
French trade deficit
He expected that “the tour will witness memoranda of understanding and economic agreements in the fields of investment, energy, industry, technology and trade.”
He stressed that “the government has confirmed that the goal is to turn understandings into executive paths and practical partnerships, and information related to the Paris visit indicates that it is likely to witness the signing of several memoranda of understanding,” stressing that “what is most important for Iraq is not the number of memoranda that will be signed, but rather the volume of investments that will actually turn into contracts, projects, job opportunities and technology transfer within Iraq.”
development relations
For his part, economist Abdul Hassan al-Shammari told Al-Sabah newspaper that Prime Minister Ali Faleh al-Zaidi's European tour to France and Germany may be followed by another foreign visit. He predicted that the Prime Minister's visit to France and Germany would result in important economic and development agreements, most of which would be in Iraq's favor. He explained that these visits would contribute to building strong, robust, and cohesive economic and political relations with other developed countries, based on mutual benefit and partnership.
Ongoing economic activity.
Concluding agreements
He stated that "the European tour indicates that Iraq has begun to develop under the leadership of Prime Minister Ali Faleh al-Zaidi," and predicted that "the visit will witness the signing of joint economic agreements and memoranda of understanding." Between Iraq and those countries.
Al-Jubouri to Al-Zidi: Attract companies and fulfill your promises to the Iraqi people.
Member of Parliament’s Investment Committee, Iyad al-Jubouri, affirmed his support for the government’s direction towards attracting foreign companies to Iraq in various sectors, expressing his hope that Prime Minister Ali Faleh al-Zaidi’s upcoming visit to Europe will result in tangible projects.
Al-Jubouri told Al-Mada that investment has been a priority since the beginning of the government program, considering it a crucial path for the Iraqi economy. He added that attracting companies should not be limited to one sector, emphasizing his support for the Prime Minister's efforts in this regard.
Regarding the anticipated European visit, Al-Jubouri expressed his hope that Al-Zidi would succeed in presenting projects that would convince the public of the visit's usefulness, calling for a focus on implementing the pledges included in his government program.
Al-Jabouri did not specify particular sectors or projects that he expects to agree upon during the visit.
Baghdad will sign the document tomorrow authorizing the disbursement of August salaries to the Kurdistan Region; there is no liquidity crisis.
Kurdistan24's correspondent in Baghdad reported on Saturday (September 12, 2026) that the Federal Ministry of Finance is scheduled to officially sign the letter of funding and disbursement of salaries for Kurdistan Region employees for the month of August on Sunday, amid official assurances of the availability of full cash liquidity.
The correspondent, Dylan Barzan, quoted an official source in the Iraqi Ministry of Finance as saying that the Minister of Finance gave her approval last Thursday, for the financing procedures and final signing to be completed tomorrow, Sunday.
He explained the remaining administrative procedures within the ministry as follows:
Documentation cycle: The book will be transferred tomorrow to the accounting department for signature, then referred to the budget department to determine the amount, and finally to the finance department to deposit the funds into the bank account of the regional Ministry of Finance at the Central Bank of Iraq branch in Erbil.
Transfer date: If these administrative procedures are completed before the end of official working hours tomorrow, Sunday, the amount will be deposited directly into the region’s bank account.
Expected funding amount: The amount allocated for August salaries is expected to range between 830 and 840 billion Iraqi dinars, after deducting 120 billion dinars as was customary in previous months.
In response to rumors circulating about a shortage of cash, the official source at the Ministry of Finance confirmed to Kurdistan 24 that there is no liquidity crisis, stressing that the required amounts have been fully collected and are ready for transfer as soon as the relevant department completes the regulatory procedures tomorrow.
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US Chargé d'Affaires: Al-Zaidi's visit to Washington opened new horizons for the Iraqi-American partnership
The US Chargé d'Affaires in Iraq, Steven Fagin, affirmed on Saturday that Prime Minister Ali Faleh al-Zaidi's visit to Washington opened new horizons for the Iraqi-American partnership.
Fagin stated in a statement received by the Iraqi News Agency (INA) that "relations between Baghdad and Washington are on the cusp of significant development," noting "a shared commitment to strengthening the economic partnership and expanding opportunities for cooperation between the two countries."
He emphasized that "Prime Minister Ali al-Zaidi's visit to Washington last summer came with a mandate from the Iraqi people to build a sovereign, secure, and prosperous Iraq," adding that "Iraq today is not viewed as the Iraq of yesterday, but rather as a country brimming with great opportunities."
He further stated that "US President Donald Trump has aspirations regarding bilateral relations, which are embodied in establishing a fruitful partnership with the Iraqi people based on real and tangible results."
He explained that "the agreements signed during al-Zaidi's visit covered the energy, healthcare, technology, and financial sectors, with a total value of $60 billion."
Fagin emphasized that his goal during his tenure as Chargé d'Affaires at the U.S. Embassy in Iraq was to deepen economic opportunities and achieve accomplishments that benefit both countries.
He noted that the United States and Iraq stand on the cusp of a transformative phase in their relationship, highlighting a shared interest in expanding trade opportunities.
He concluded by saying that the two countries can continue this fruitful partnership, achieving tangible results and real progress to ensure the prosperity of both the United States and Iraq.
Washington speaks of a new phase in its economic relations with Iraq
The US Chargé d'Affaires in Iraq, Steven Fagin, confirmed on Saturday that relations between Baghdad and Washington are on the verge of a major transformation, given the two countries' interest in expanding trade opportunities and deepening economic cooperation.
Fagin said, in statements reported by the US Embassy and followed by (Al-Mada), that Prime Minister Ali Al-Zaidi’s visit to Washington last summer witnessed the signing of agreements in the energy, healthcare, technology and financial sectors, which amounted to $60 billion, according to him.
He added that US President Donald Trump is looking forward to a “fruitful partnership with the Iraqi people, based on real and tangible results,” noting that his goal during his time in Baghdad is to expand economic opportunities and achieve accomplishments that benefit both countries.
Fagin described the next phase as a transformation in the nature of the Iraqi-American relationship, stressing Washington's desire to continue the partnership with Baghdad and turn opportunities for cooperation into practical results.
Iraq regulates forex trading: strict oversight of companies and incomplete investor protection.
The Iraqi Securities Commission has taken an unprecedented step towards regulating trading in contracts for difference and leverage, after approving Regulatory Regulation No. (36) of 2026, in an attempt to transfer an activity that has been carried out for years through foreign companies and platforms to an official framework subject to Iraqi oversight.
Reading the regulations reveals a clear tightening in the selection of companies allowed to enter the Iraqi market, while a number of investor protection elements during trading still need more detailed rules, especially since leveraged forex and CFD contracts are among the most risky investment tools for individuals.
The authority imposed high conditions for obtaining the license, most notably that the company be one of the prestigious global brokerage companies, and that it possess at least five valid international regulatory licenses of the first Tier 1 Onshore category, with Offshore licenses not being accepted, as well as a record of no less than ten years in brokerage, derivatives and electronic trading.
It also stipulated the establishment of a branch or licensed company within Iraq, and the provision of guarantees from the parent company of no less than five billion dinars, while it set ten billion dinars as the minimum capital if the company is established in Iraq, in addition to requirements for financial solvency, governance, risk management, anti-money laundering, cybersecurity, business continuity and training of Iraqi personnel.
These conditions are a clear strength, as they reduce the likelihood of unknown companies or companies registered in weak regulatory jurisdictions entering the market, and give the authority tools to suspend or revoke licenses and impose penalties when requirements are violated.
However, a closer look at the regulations reveals that the strictness in choosing a broker has not yet been matched by a similar level of detail in protecting the client after trading has begun.
The regulation explains the risks of leverage, stating that leverage in forex trading can reach more than one hundred times, but it does not specify a mandatory ceiling for the leverage that the company may grant to an individual investor, nor does it specify uniform numerical ratios for the initial margin or the mandatory closing level of positions.
This differs from mature markets such as Britain, where the Financial Conduct Authority (FCA) limits leverage offered to retail clients to between 30 to 1 and two to 1 depending on the asset, and mandates the closing of positions when funds fall to 50 percent of the required margin.
The published text of the Iraqi regulation does not include an explicit provision obligating companies to protect negative balances, ensuring that the customer's loss does not exceed the funds in their account. This is a mandatory protection for retail customers under international regulatory bodies such as the FCA and ASIC.
The text also does not provide a detailed system for separating clients’ funds from the brokerage firm’s funds, nor does it clearly define the rules for preserving those funds and their legal fate in the event of the firm’s failure or bankruptcy.
Questions also arise regarding investor suitability testing before allowing access to high-risk products, advertising and marketing incentives, pricing sources, slippage, order execution mechanisms, and conflict of interest disclosure when a brokerage firm acts as a counterparty to its clients' trades. The FCA, for example, imposes restrictions on marketing incentives and a standardized warning indicating the percentage of client accounts that lose money trading CFDs.
The requirement to obtain five Category 1 licenses may raise another question regarding the balance between protecting the market and encouraging competition, as it could exclude strong international companies licensed by high-level regulatory bodies simply because they do not hold five separate licenses.
The regulation, in its current form, appears to be an important basis for regulating a sector that has remained outside local oversight, but it seems more complete in regulating the entry of companies into the market than in regulating what happens to the Iraqi investor’s money within the trading account.
Issuing supplementary executive instructions that define leverage limits, negative balance protection, segregation of client funds, pricing and execution rules, advertising and suitability tests would transform the regulation from a framework for licensing companies into an integrated system for investor protection and regulation of the Forex and CFD market in Iraq.
Barzani's advisor: There is no such thing as an American withdrawal or abandonment of the Kurdistan Region.
Kifah Mahmoud Karim, the media advisor to the leader of the Kurdistan Democratic Party, denied the existence of an imminent American withdrawal or Washington abandoning its allies, considering that talk of withdrawal is merely propaganda balloons and a scare tactic promoted by some factions to cover up their refusal to disarm.
Kifah said, "There is no such thing as an American withdrawal or abandonment of the region; there is a strategic agreement between Iraq and the United States aimed at developing the performance of the Iraqi armed forces and the Peshmerga forces."
He added, "What actually happened is that most of the American forces that were in Baghdad and the (Ain al-Asad) base withdrew to Kurdistan, and from there their equipment was transferred weeks ago to nearby bases in countries in the region such as Jordan and Turkey," indicating that "what remains now is a group of technicians and experts invited by the federal government to train the Iraqi forces and the Peshmerga."
He pointed out that "talk of occupation and withdrawal is just propaganda balloons and a scare tactic promoted by some factions and militias to cover up their refusal to hand over and disarm as promised by the federal government."
Al-Yakti told Ultra Iraq: Baghdad and the region reached an understanding on the budget, oil, and ASYCUDA.
The Patriotic Union of Kurdistan (PUK) confirmed on Saturday, September 12, 2026, that there are understandings between the federal government and the Kurdistan Regional Government regarding the budget, the oil file, and ASYCUDA.
SOMO is in charge of the oil file in the Kurdistan Region.
Ahmad al-Harki, a member of the Patriotic Union of Kurdistan, told Ultra Iraq that "there are currently positive understandings between Baghdad and Erbil regarding the budget and ways to address oil issues and non-oil revenues."
He explained that "the relationship between the federal government and the regional government is based on the constitution and mutual rights and duties, with a sincere intention on both sides to eliminate crises and resolve outstanding problems."
He noted that the oil marketing company "SOMO" will handle the oil file in the region, and it was agreed to implement the ASYCUDA system for customs in the region to unify procedures with the rest of Iraq.
He said that "the Iraqi economy has been negatively affected by the repercussions of regional tensions, and has been unable to make optimal use of rising oil prices due to its total dependence on a rentier economy."
He explained that "the political forces are committed to the need for cohesion on the home front, with a political will to move forward with the enactment of vital laws such as the Oil and Gas Law and the Federal Council Law."
He added: “Attention must be paid to the issue of employee salaries and ending the crisis of promotions and allowances that have been suspended since 2016 in order to ensure fairness and equality among all employees in Iraq.”
He called for "adopting a responsible national discourse that focuses on commonalities and higher national interests instead of exchanging accusations," expressing his "optimism about the possibility of reaching a comprehensive national pact formula."
A few days ago, a high-level delegation from the Kurdistan Regional Government, including the Ministers of Finance and Economy, Natural Resources, the Head of the Cabinet Office, the Secretary of the Cabinet, the Head of the Coordination and Follow-up Department, and the Undersecretary of the Ministry of Planning, arrived in Baghdad to conduct a series of intensive meetings with relevant ministries and authorities in the federal government, with the aim of participating in the "preparation of a draft federal general budget law for the year 2027," by meeting with officials of the federal Ministry of Finance, and holding extensive discussions with the Ministries of Planning and Oil, to review "issues of dispute and reach common understandings."
The delegation came to Baghdad with the agenda for the talks including "the Kurdistan Regional Government's vision and demands regarding salary allocations and financial entitlements for all employees and salary recipients, as well as job classifications and financial grades, allocations for investment projects and provincial development, the operational budget, in addition to resolving the pending oil file," according to a statement issued by the Kurdistan Regional Government, which confirmed that it "seeks to end the financial disputes and formulate a comprehensive agreement and common understanding with the federal government that guarantees the inclusion and confirmation of the region's full rights and shares within the 2027 general budget law before it is referred to Parliament."
Patriotic Union of Kurdistan member Mahmoud Khoshnaw said that "the ongoing negotiations between Baghdad and Erbil aim to develop a strategy for the 2027 budget, and the current solutions will remain temporary and patchwork until a fair oil and gas law is enacted."
In an interview with Ultra Iraq, Khoshnaw noted that "there is a mutual and serious desire this time between Baghdad and Erbil to reach understandings that contribute to overcoming previous financial crises, even though the energy file has witnessed a relative breakthrough thanks to the resumption of oil exports and the preliminary agreements that govern the marketing of oil through SOMO."
He continued: "Clear standards for actual spending must be adopted instead of previous estimates to ensure a fair share for the region with full equality in financial rights and allocations for Peshmerga fighters with their counterparts in the Federal Ministry of Defense."
He explained that "sovereign and governing expenses must be deducted from the state budget as a whole, while ensuring social justice in the distribution of appointments and job grades, as the region seeks to establish 60,000 employees on a contractual basis on a permanent basis in accordance with legal and constitutional contexts."
He explained that "the Iraqi constitution has set clear frameworks for the distribution of revenues and fair representation, and adhering to them is the only way to end the engines of conflict and establish stability. Therefore, Baghdad must choose, either to adopt accurate population ratios or to estimate actual spending so that the region can then manage its funds and cover the entitlements of retirees and other sectors."
On Saturday, a statement was issued by the Kurdistan Region's negotiating delegation with the federal government, which was reviewed by Ultra Iraq. The statement read, "As part of the Kurdistan Regional Government's participation in the ongoing preparations for drafting the Iraqi federal budget law for the fiscal year 2027, the Kurdistan Regional Government's negotiating delegation held a meeting today, Saturday, September 12, with the Kurdistan Democratic Party bloc in the Iraqi Parliament."
During the meeting, the negotiating delegation reviewed "the results of its recent meetings and discussions in Baghdad with the federal ministries of finance, planning, and oil. Extensive discussions were also held regarding the regional government's main visions and proposals concerning the 2027 budget." The statement added that "those present emphasized the importance of securing the constitutional and financial rights and entitlements of the Kurdistan Region, particularly ensuring the continuous and timely payment of salaries and various financial entitlements in the region, and keeping the issue of salaries separate from financial and political disputes."
The participants also stressed the importance of coordination at all stages of preparing and approving the draft budget law, as well as highlighting the importance of continuing dialogue and coordination with all Kurdish blocs and representatives of the Kurdistan Region in the Iraqi Parliament without exception, in order to formulate and develop a unified position, with the aim of protecting the rights and entitlements of the people of the Kurdistan Region in the federal budget for 2027.
Security Expert Saif Raad: Every Dollar Given to Iraq Is Monitored
A U.S. Treasury meeting in the UAE—even Iraqi dollars. He said we were surprised to find they had reached Russia, according to the list that was issued.
A number of Iraqi companies, including digital-solutions companies and general contracting companies.
All of them were tied to a system that was also smuggling money or transferring money to the Iranian regime.0:24
So this means that, as part of the economic-pressure campaign, we treat everything as smuggling—as if there were an open dollar pipeline between Iraq and Iran.0:32
A process of trade and economic exchange. Iraq needs a lot from Turkey and from Iran. We import0:41
goods and we pay money. Why are things always described this way? Because0:48
many of the operations that are called—or considered—smuggling or money laundering0:55
actually go to armed groups, the groups that are considered arms1:01
and agents of Iran. Even in the latest case, the one involving the arrest of Muhammad Baqir al-Saadi,
and reports from the U.S. Department of Justice indicate that he was supported with Iraqi funds
Iraqi money—and that he threatened U.S. national security and also threatened European security. We are talking about1:29
this making us go back and think again about building the economic structure, and where the money
is going, because this money is leaking to groups and organizations.1:45
So the harm from this—who will it hurt? It will hurt Iraq. Every dollar is monitored.1:52
And this isn’t just me saying it. These are economic experts in the banking field. Every dollar given to the Republic1:58
of Iraq is tracked through its chain—where it goes and where it ends up. In fact, some people close to me attended a U.S. Treasury2:07
meeting in the UAE. Even the Iraqi dollars—he said we were surprised to find they had reached Russia
Babil: Protest demanding improved services and solutions to the cost-of-living crisis
Tens of residents of Babil Governorate demonstrated in front of the governorate building in protest over the decline in services0:09
and the worsening of living crises, demanding that the responsible government authorities respond to their0:17
basic rights and address the accumulated service files. More than one protest, general demands, long-standing demands—0:26
among them electricity, among them the presence of companies inside the gate, among them the gasoline crisis that exists.0:33
And today we have not seen any intervention from the responsible authorities or any action to solve this. We went out a few0:42
days ago in a protest in al-Hamza and asked that the responsible parties—the provincial council members, the governor—0:49
attend the protest, hear people’s demands, and find solutions for them. But they refused to allow0:56
the protest. Today we said: since they are unable to go to the protests in the districts and subdistricts, we came to the governorate center to1:04
demonstrate. But again there is a ban and there are security measures. Power cuts, the fuel crisis, and the absence of1:12
basic services were the main issues the protesters carried in this popular demonstration, amid1:21
criticism of the local government’s performance. Babil is suffering crisis after crisis—1:28
the gas-price crisis, the gasoline crisis, the water crisis, the electricity crisis, the graduates’ crisis, and the1:38
farmers’ crisis. All of these things—there is an official called the governor who runs the governorate. All of this falls on1:45
his shoulders. Today we came out wanting, in a completely peaceful way, to demand from the official responsible for Babil1:52
and for the people of Babil. We came out to tell him: this is your responsibility—you provide services for the people of Babil. Completely peacefully, within the constitutional and legal framework.2:01
Today we went out in a peaceful demonstration to demand the legitimate rights of Babil Governorate, but we were surprised by a very large security presence.2:09
Of course, our message today is to the Babil police chief, Abbas Zarqani: what are you doing? These young people came out to demand their rights, came out to support the oppressed and reject the oppressor. Today you2:18
deployed all the forces. Amid the accumulated living and service crises, residents are demanding solutions2:26
for the unresolved service files, while Babil’s citizens wait for a government response that will end2:34
the daily suffering and restore services to residential neighborhoods.2:42
From Babil Governorate, Muataz al-Aboudi, Zagros TV.
