From Iraq to the World:How QiCard Put Iraq on the Global Fintech Map

International Smart Card (QiCard) Showcases Iraq’s Fintech Leadership at Money 20/20 USA “From Iraq to the World”

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DUBAI, United Arab Emirates--(BUSINESS WIRE)--International Smart Card (QiCard), Iraq’s leading provider electronic payment solutions, set to represent Iraq’s rapidly advancing fintech sector at Money 20/20 USA 2025, the world’s most influential event for payments, banking financial innovation, taking place October 26–29, 2025 in Las Vegas.

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Official sponsor, International Smart Card (QiCard) marks a defining moment for Iraq’s digital economy demonstrating how a nation once limited by cash is now exporting innovation, financial inclusion, trusted technology globally.

“QiCard was born from a belief that Iraq can be a source of innovation, not just a beneficiary of it,” said Ali Moneim, CEO of International Smart Card (QiCard). “Our participation at Money 20/20 isn’t simply about presence; it’s about proudly sharing an Iraqi success story that has transformed millions of lives through secure and accessible financial technology.”

At the event, QiCard will showcase its biometric smart card systems, secure e-payment infrastructure, and pioneering financial inclusion initiatives that have empowered over 19 million citizens and 50,000 merchants across Iraq. The company’s mission extends beyond technology — it seeks to build a connected Iraq where digital trust and economic participation are within everyone’s reach.

“Our growth has always been driven by empathy and accessibility,” said Ahmed Kadhim, CIO at International Smart Card (QiCard). “Every innovation begins with the needs of our people — from retirees to students and that human-first approach is what we’re proud to present to the global fintech community.”

Money 20/20 USA brings together more than 10,000 industry leaders from financial institutions, regulators, and investors to shape the future of finance. QiCard’s participation underscores Iraq’s emergence as a new fintech hub in the Middle East — proving that local expertise and global standards can coexist to drive sustainable innovation.

“Innovation is not a department at QiCard — it’s our identity,” said Hasan Abdulhadi, Chief Innovation Officer at International Smart Card (QiCard). “From developing biometric authentication to building interoperable payment ecosystems, our goal is to take Iraqi ingenuity beyond borders — to show that solutions born in Baghdad can compete globally.”

Through its participation, QiCard reinforces its commitment to expanding cross-border partnerships, attracting investment to Iraq’s fintech sector, and championing the message that progress, innovation, and financial empowerment can emerge from anywhere.

QiCard is bridging local innovation with global impact.

Al-Sudani: Our relationship with America must be based on partnership, not unilateral decisions.

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Prime Minister Mohammed Shia al-Sudani affirmed on Tuesday that Iraq's relations with the United States must be based on partnership, not unilateral decisions. He noted that a small unit of American advisors will remain at the Al-Assad base to monitor the Syrian border. 

Al-Sudani said in press statements, "Without a just solution to the Palestinian issue, the region will remain unstable and events will recur. We support US President Donald Trump's plan for Gaza." 

Al-Sudani added, "Iran is an important and influential country and must be treated with respect and through direct dialogue. Our relationship with America must be based on partnership, not unilateral decisions." 

The Prime Minister continued, "Iraq has made significant progress in reforming its financial system," noting that "ISIS no longer poses a significant threat inside Iraq, and Defense Ministry estimates indicate the presence of between 400 and 500 ISIS members in isolated pockets along the Syrian border and in the country's northeast." 

Al-Sudani noted that "a small unit of US military advisors at Al-Assad base will remain in Iraq to monitor the Syrian border." 

Al-Sudani explained that "Iraq has begun security cooperation with the new authorities in Damascus in the areas of combating terrorism and drugs."

Central Bank: Banking reform will increase electronic trading to $60 billion, abandoning cash transactions.

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The Central Bank of Iraq expects the volume of electronic payments to reach $60 billion by 2035, as part of a reform plan to gradually phase out paper cash transactions. The bank noted a trend toward digital banking. 

Bank spokesman Alaa Al-Fahd said, "As part of its reform plan, the bank is pursuing electronic transformation and financial inclusion, given its significant role in reducing reliance on paper cash transactions, which has significantly reduced the use of cash. It has encouraged all individuals today to increase their transactions and shift to electronic payments, particularly for salaries and government departments."

He added, "The bank is implementing a banking reform plan in cooperation with Oliver Wyman, which announced in its report a significant response from banks to the reform plan's implementation, expecting electronic payments to reach $60 billion by 2035." 

Al-Fahd explained that "electronic payments have significantly reduced the printing of banknotes due to electronic transactions," noting that "there is an idea to move towards digital electronic banks and the significant role they play in reducing reliance on paper money." 

He continued, "The development of electronic payments over the past three years has witnessed a qualitative leap and a very high growth rate, with the number of cards issued reaching more than 22 million, in addition to the import of more than 75,000 devices." He expected that "the future will bring even greater growth in the issue of electronic payments and transactions as an alternative to paper transactions."

 

Electronic trading, central bank, cash transactions

Sudani interested in energy partnership with Washington: "It strengthens friendship"

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During his reception of an American delegation

Prime Minister Mohammed Shia Al-Sudani confirms that the government has set a specific timetable to achieve its goals in the field of energy projects

 

Prime Minister Mohammed Shia al-Sudani received today, Tuesday, US Under Secretary of Energy James Patrick Danley and his accompanying delegation, in the presence of the Chargé d'Affaires at the US Embassy, Joshua Harris.

During the meeting, His Excellency emphasized the importance of the fruitful partnership and cooperation between Iraq and the United States in various fields, noting that the government, by consolidating political, economic, and societal stability, has launched numerous projects, particularly in the energy sector, which have brought about significant positive change across the country.

The Prime Minister noted that the government has set a specific timetable for achieving its energy and gas utilization goals, including achieving self-sufficiency in high-octane gasoline production. Work is ongoing to achieve self-sufficiency in gas production through government projects, with 2028 set as the target date for achieving this goal.

Mr. Al-Sudani stressed the importance of cooperation with American energy companies in the field of developing work and training Iraqi personnel, and using the latest technological means to develop oil fields and produce electricity, indicating that partnership and cooperation with the United States strengthens friendly relations based on common interests in various fields.

For his part, the US Under Secretary of Energy confirmed significant progress in cooperation between the two countries, particularly in developing energy projects. He noted that the US administration's vision is based on strengthening partnerships and investment to enable Iraq to achieve self-sufficiency in energy production and export the surplus in the future.

The Prime Minister sponsored the signing ceremony of the contract for the floating gas regasification platform (FSRU) with a capacity of 15 million cubic meters per day between the Ministry of Electricity and the American company Excelerate Energy for a period of 5 years, renewable, for the purpose of supplying natural gas to power plants, and supporting energy generation by diversifying gas sources to cover the actual need to operate the plants. The floating platform is also a flexible option in terms of implementation and associated infrastructure, and a quick solution to gas problems, as it can be implemented in record time and at a lower cost compared to fixed platforms.

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The Prime Minister's Media Office
October 28, 2025

With Al-Sudani's attendance, Iraq ushered in a renewed banking era.

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Arab Bank - Iraq inaugurated its headquarters in Baghdad in the presence of Prime Minister Mohammed Shia al-Sudani, who affirmed that the bank's presence represents a strategic addition to the national banking sector.   

The bank said in a statement, "The launch of Arab Bank - Iraq comes within the framework of strengthening the presence of the Arab Bank Group, which owns one of the largest Arab banking networks globally, with more than 600 branches across four continents. The group is based on an ambitious future vision and a comprehensive strategy that employs the latest digital developments in the banking industry, reinforced by a distinguished reputation and banking experience spanning more than nine decades, during which it has been able to build solid relationships with generations of customers locally, regionally and globally across various sectors." 

He explained that "the headquarters of Arab Bank - Iraq embodies its corporate identity, reflecting its dynamic organization and strong ties with customers, partners, and the community. Based on its corporate slogan, "Arrival is a Beginning," which reflects the bank's commitment to enabling its customers to achieve their ambitions and celebrate their achievements as new beginnings toward further success, this opening is a distinctive start to the official launch of Arab Bank - Iraq, with its new horizons and confident steps toward a renewed banking future." 

In his speech at the opening ceremony, Prime Minister Mohammed Shia al-Sudani said, "The presence of the Arab Bank of Iraq represents a strategic addition to the national banking sector, and is a model for what we aspire to in terms of modern and effective banking institutions capable of providing advanced services that contribute to financing sustainable development." He emphasized "the need to stimulate the financing of diverse investment projects and opportunities, given the presence of a bold and capable Iraqi private sector that understands the intricacies of the investment environment." 

The Governor of the Central Bank of Iraq, Ali Al-Alaq, welcomed the return of Arab Bank to Iraq through Arab Bank-Iraq, noting "the bank's long history and experience spanning more than nine decades."

He expressed his pride in "Arab Bank Iraq's contribution to the soon-to-be-launched Riyada Bank." 

For his part, Sabih Masri, Chairman of the Board of Directors of the Arab Bank Group, thanked Prime Minister Mohammed Shia al-Sudani for sponsoring the opening ceremony, stressing that "this participation embodies the Iraqi government's commitment to supporting the banking sector and developing its infrastructure. It also supports the Arab Bank of Iraq's journey as part of the Arab Bank Group's efforts to serve the Iraqi economy." 

Al-Masry commended the presence of the Governor of the Central Bank of Iraq, praising his "pivotal role in supporting and stabilizing the Iraqi banking sector." He emphasized that "the Central Bank represents the fundamental pillar of this sector, and its efforts directly contribute to strengthening confidence in Iraqi banking institutions."

The Oil and Gas Committee notes observations on the ministry's performance and calls for a comprehensive review.

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Member of the Parliamentary Oil and Gas Committee, Nazim Al-Shabli, confirmed today, Tuesday, that the committee recorded a number of observations on the performance of the Ministry of Oil, pointing to the importance of reviewing some policies and procedures to ensure the development of the oil sector and enhance its efficiency.

Al-Shabli said in a statement to / Al-Maalouma / agency, that “the parliamentary committee is closely following the work of the Ministry of Oil and has identified a group of points that need technical and administrative treatment,

” indicating that “these observations come within the framework of keenness to improve performance and overcome the challenges facing the sector.” He added that "the Ministry is making great efforts in managing oil resources, but some files require government intervention to accelerate the pace of achievement and achieve strategic goals," calling for "the formation of joint working groups between the concerned parties to review current plans and provide practical, implementable recommendations." 

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The Central Bank of Iraq signs an agreement with the National Bank of Kuwait - Bahrain.

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Under the patronage and attendance of the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, the Central Bank of Iraq signed a joint cooperation agreement with the National Bank of Kuwait - Bahrain. The signing ceremony took place at the Central Bank of Iraq's headquarters in Baghdad.

 

The Bank of Kuwait was represented by its CEO - Bahrain, Mr. Ali Fardan, along with his Deputy, Head of Treasury, Mr. Mohammed Momen, and members of the delegation. The agreement was signed on the Iraqi side by Dr. Mohammed Younis Abu Raghif, Director General of Investments at the Central Bank of Iraq.

 

His Excellency the Governor expressed his warm welcome to the visiting delegation, recalling the deep-rooted ties between the people of Iraq and the peoples of Kuwait and Bahrain, wishing them continued success. For his part, Mr. Fardan emphasized the importance of enhancing cooperation in the areas of financial transfers and electronic payments, in addition to training on the best modern banking practices between the two parties, and statistical data. He invited His Excellency the Governor to visit the headquarters of the National Bank of Bahrain.

 

Central Bank of Iraq
Media Office

 

Iran proposes creating a unified regional currency to boost trade among countries in the region.

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Iranian President Masoud Pezeshkian proposed on Tuesday the creation of a unified regional currency for the region's countries, with the aim of enhancing trade and strengthening economic cooperation amid ongoing international sanctions on Tehran.

During his meeting with the Tajik Interior Minister in Tehran, Pezeshkian said, "Adopting a common currency in the region could contribute to economic development and expand cooperation among member states."

The Iranian president noted that "the religious and cultural ties that unite the countries of the region provide a suitable basis for strengthening relations and overcoming obstacles to economic cooperation," during his speech at the Economic Cooperation Organization summit.

The organization was founded in 1985 at the initiative of Iran, Pakistan, and Turkey. It currently has ten members, including five Central Asian countries (Tajikistan, Kyrgyzstan, Uzbekistan, Kazakhstan, and Turkmenistan), in addition to Azerbaijan and Afghanistan. The combined population of these countries is more than 550 million people.

This call comes at a time when the Iranian economy is facing significant pressure from US sanctions related to its nuclear program, which have led to a decline in the value of the rial 

and rising inflation rates.

Here's the dooms day video

“Iraq’s Exchange Rate Showdown — Traders Turn to the Streets!

The parallel market is putting pressure on the exchange rate, and restrictions on foreign transfers are exacerbating the crisis.

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MP Moeen Al-Kadhimi confirmed on Monday that the rise in the dollar exchange rate is primarily due to the shift of most traders toward the parallel market (black market) to purchase hard currency to finance import operations.

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Al-Kadhimi said in a statement monitored by Al-Mada, "Most traders resort to the parallel market to obtain dollars," noting that "this trend has led to an increase in demand for dollars on the black market, which has caused a significant increase in the exchange rate."

He added, "The solution requires the Central Bank and the Ministry of Finance to facilitate banking procedures for legitimate traders and regulate the flow of funds through the formal banking system to reduce the need for the parallel market," noting that "the continuation of this situation will lead to increased economic pressures and higher prices in local markets."

Al-Kadhimi concluded his remarks by emphasizing that "the Parliamentary Finance Committee is closely monitoring this issue and will work to find urgent solutions that ensure the stability of the exchange rate and protect consumers from the repercussions of the rising dollar."

For his part, economic expert Taha Al-Janabi explained that "the real reasons behind the dollar's rise are not limited to commercial demand, but extend to a regulatory gap in foreign exchange mechanisms and compliance restrictions imposed by
the US banking system on dollar transactions."

Al-Janabi explained in an interview with Al-Mada that "continued reliance on the parallel market will keep speculators in a position of influence over prices, unless more flexible official channels are opened that enable traders to obtain foreign currency transparently through approved banks."

The dollar exchange rate in Iraq has been fluctuating continuously since the beginning of this year, despite measures taken by the Central Bank to regulate the currency sales window and tighten controls on foreign transfers.

Experts attribute the crisis to a decline in dollar flows through official channels due to US restrictions imposed on some banks, along with the expansion of undocumented imports. This has forced traders to turn to the parallel market to cover their hard currency needs, directly impacting the prices of goods and services in local markets

Expert: Iraqi banks need comprehensive reform to free themselves from the restrictions of dollar transactions.

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Financial and banking expert Mustafa Hantoush confirmed on Monday that the banking sector in Iraq stands today on the threshold of a new phase, as it approaches liberation from restrictions on dealing in the dollar. However, at the same time, it needs radical reforms to modernize its operational structure and enhance its efficiency.

Hantoush said in a statement to the Al-Maalouma Agency, that "about 90% of the Iraqi banking system is still subject to the influence of dollar restrictions due to suspicions and problems it has experienced over the past years," noting that "it is expected that within less than three months, some banks will begin to gradually free themselves from these restrictions."

He added that "the banking process in Iraq is still limited in activity, as it requires the introduction of an integrated system that includes deposits, loan financing, and expanding investment areas, in addition to updating the standards in force in cooperation with the Central Bank of Iraq."

He explained that "achieving full financial inclusion represents a fundamental step in developing the sector, through diversifying banking services and not being limited to current accounts only," while stressing "the importance of strengthening relations with international banks and opening new correspondence channels that enable Iraqi banks to effectively integrate into the international financial system," adding that "updating technical systems and simplifying procedures to serve citizens is a crucial stage in the reform process, provided that complications and administrative routines that hinder development and limit the efficiency of banking performance are avoided."

Economist: A recession is likely after the elections until the government is formed.

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Economist Salah Nouri predicted a temporary economic recession in the country after the upcoming parliamentary elections and until the formation of a new government. He attributed this to the lack of clarity in the government's program guiding the country's general policy during this transitional phase.

Nouri told Al Furat News Agency: "The possibility of an economic recession after the elections is very likely, as economic activity usually slows until the new government is formed. This is because the government program, which sets out general economic policies, is not clear until it is approved by the House of Representatives, which is one of the basic conditions for granting confidence to the next government."

He added, "The future of economic performance will depend on the nature of the political blocs that win parliamentary seats and their economic orientations."

 Nouri stressed that "commitment and honesty in implementing the government's program after the government's formation will be the decisive factors in overcoming any potential recession and restoring economic activity in the country."

15 Economic Legislations Awaiting Voting

 

link Muhannad Abdul Wahab and Jenan Al-Asadi

 

Iraq stands today on the threshold of a promising economic phase, as the House of Representatives awaits a vote on fifteen vital pieces of legislation, which represent a pivotal step toward revitalizing the national economy and stimulating sustainable development.

Parliament Rapporteur Ghareeb Askar confirmed to Al-Sabah that these laws will contribute to supporting financial and economic reform and enhancing integrity and transparency. He pointed out that their implementation will create an attractive investment environment and strengthen partnerships between the public and private sectors.

For his part, Deputy Chairman of the Development and Investment Committee, Hussein Al-Saabari, explained that among the laws ready for voting are the Industrial Investment Law and the Red Card Law for Renewable Energy, two of the most prominent pieces of legislation that support industry and clean energy and provide job opportunities for young people.

Meanwhile, MP Mustafa Al-Karawi called for the formation of an economic government with national competencies and a realistic development vision, emphasizing that the next phase represents a historic opportunity to build a cohesive economy that enhances citizens' confidence in the state and transforms security stability into true economic prosperity.

The "largest bloc" no longer matters: The Trump administration sets post-election rules

For the first time, the US begins to separate Iraq from the Iranian issue.

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In the final days leading up to the Iraqi elections, scheduled to take place in 15 days, Tehran is attempting to retest the loyalty of its allies within the country, amid indications that the upcoming elections may produce a different political equation, one that favors a shift away from Iranian influence.
Political analysts indicate that an unprecedented international development is beginning to take shape, represented by the United States' efforts to separate the Iraqi issue from the Iranian one. This trend is being witnessed for the first time in the past fifteen years, as part of the trajectory of American policy toward both Baghdad and Tehran.
Over the past week, political movements have been recorded in Baghdad on the Iranian and American fronts, reflecting what can be considered a state of "tug of war" between the two parties, as the elections scheduled for November 11th approach.
Who is controlling the factions?

Political circles describe what is currently happening as a "political rush" toward Washington by most parties, including wings within the "Coordination Framework" and even the "factions."
Independent politician Mithal Al-Alusi says that everyone is "sending messages to America that they are the only ones capable of controlling the situation in the next phase after the elections."
He added to Al-Mada that "the administration of US President Donald Trump differs from previous administrations. It will not accept any group linked to Iran, and will not tolerate evasions."

The new developments following the events of October 7, 2023, reveal a decline in Iranian influence in Iraq and the region in general, following losses on the southern Lebanese and Syrian fronts.
Armed factions in Iraq close to Tehran have been adhering to an "undeclared" truce with the United States for about a year.
These groups also released what they said was an "Israeli spy" in Baghdad, Elizabeth Tsarkov, without any compensation, according to what Tsarkov revealed on her social media accounts.
According to Shiite political circles, it is not unlikely that the decline of the "factions" is the result of Iranian advice, through which they are trying to maintain their last card in Iraq and the region after losses on other fronts.

Last week, Esmail Qaani visited Baghdad and met with Shiite leaders. Reports leaked that he was trying to prevent the "fragmentation of the Coordination Framework," which has split into 12 electoral lists and may be difficult to unify after the election results, as the Shiite coalition intends.
The Coordination Framework appeared uncomfortable with Prime Minister Mohammed al-Sudani's running alone in the elections, forcing him to modify his previous plan, which was to run with only one list.
Parties within the Shiite coalition hint that the prime minister is seeking a "second term" at the expense of sensitive issues, such as his attendance at the peace summit in Sharm el-Sheikh two weeks ago and his meeting with US President Trump.
After the Trump Handshake,
the quick handshake between al-Sudani and Trump at the recent summit inaugurated what is believed to be the beginning of a new relationship between Baghdad and Washington, prompting the US president to send a special envoy to Iraq, Mac Savaya, an Iraqi of Christian origin.

Ahmed Al-Yasiri, head of the Arab-Australian Center for Strategic Studies, believes that the timing of Savaya's dispatch, the Sharm el-Sheikh meeting, and the possibility of an upcoming visit by al-Sudani to the United States are all linked to shaping the post-election political landscape and directly or indirectly influencing its outcome.
He told Al-Mada that "the Trump administration is fully aware that the situation in Iraq must follow a specific path, far from Iranian influence," noting that the United States will not allow the selection of a group linked to Iran in Iraq after it fought conflicts against Iranian parties in the region and intervened in previous wars.
Al-Yasiri believes that "the largest bloc after the elections will no longer be a problem. Rather, the question is what role and fortunes Iran will have under the leadership of this bloc that will form the next government, and this is the main concern of the Trump administration."
The strategic researcher reveals that Washington has now begun gradually separating the Iranian issue from Iraq, which is happening for the first time since the initial withdrawal of US forces from Iraq at the end of 2011.

He continues: "This means that the Iraqi scene has become unique after the appointment of envoy Savaya. At least for the Trump administration, sending an envoy means that there are relationships that must be organized outside of classic frameworks such as embassies.
Al-Yasiri believes that sending an envoy indicates that "the country is going through a crisis, as happened with Ukraine and Gaza." He points out that this is not a general rule, "but often when Trump sends an envoy, it is to countries facing crises, reflecting that the Trump administration attaches special importance to Iraq and senses a threat to its interests in the region."

I know they say Pompeobut this is a current article.
He added that "Iraq could fall outside the American sphere of influence if Iran makes any gains, which is a dangerous indicator for the Trump administration."
Prior to Savaya's dispatch, President Trump raised Iraqi concerns about "Iraqi oil," and US Secretary of State Mike Pompeo criticized the presence of "militias" during a call with al-Sudani, who warned against any unilateral action without consultation, which was understood to    mean that these groups could be subjected to military strikes.

leaked info perhaps?

Washington to Baghdad: We will determine the highest posts in Iraq

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The US administration has sent a strong message to some Iraqi leaders, saying that with their consent, the highest positions in the new Iraqi cabinet will be appointed.

The United States has insisted that it alone will decide on the posts of finance, oil, interior, defense and central bank governors in the next Iraqi government and will not allow other countries to interfere in the issue, a source said.

The US special envoy to Iraq has been appointed on this basis.

Al-Akeili warns of a power struggle that could delay the formation of the next government.

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Sabah Al-Akili, a member of the Rights Movement, warned on Monday of a various conflict and rivalry over power between the political parties, which would delay the formation of the country's next government.

Al-Akili told Al-Maalouma, “The current data and indicators portend a delay in the formation of the next government, similar to what happened in the past period with the tug of war between two poles seeking to win the government.”

He added, "The conflict between the political parties and the rivalry over power will plunge the country into a dark tunnel and greatly delay the formation of the country's new government after the parliamentary elections are held on November 11."

He explained that "most political parties are seeking to form the new government as quickly as possible and avoid entering into conflicts over power, and this can be achieved through the presence of a political will to form a unified Shiite coalition that will cooperate with the rest of the blocs in the other components to form the government." 

Al-Dulaimi: Trump's envoy demanded control of seven sovereign ministries in the next government.

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Abdul Sattar Mohammed al-Dulaimi, a member of the Azm Alliance, confirmed on Monday that US Special Envoy to Trump, Mark Savia, informed senior officials in the political process of the necessity of not interfering in the selection of senior positions and seven sovereign ministries.

Al-Dulaimi said in a statement to the Al-Maalouma Agency, “The US envoy stressed that the selection of the presidency, the prime ministership, and the speaker of the parliament, in addition to the ministries of interior, defense, finance, oil, and the central bank, will be subject to the American vision, without allowing the elected government to interfere in the files of these positions due to their sensitivity, according to what Savia informed him.”

He added that "the United States expressed its welcome for cooperation with Sunni and Shiite figures and from various components within the framework of forming an Iraqi government with American privilege," noting that "senior officials received threats that corruption of files concerning them would be exposed and their assets outside the country would be confiscated if they did not adhere to the American approach."
Al-Dulaimi confirmed that "Safia is currently working to implement Trump's plan in Iraq, which aims to impose complete control over political decisions."

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Raise your hands in prayer for Al-Sudani's second

term

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Only fourteen days separate us from the date of the most important legislative elections in the post-dictatorship era. Fourteen days, Iraqis will head to the ballot boxes to make the most important decision in their lives and the future of their children. Fourteen days, history will record that Iraqis have chosen a bright and better future and tomorrow. Fourteen days, history will record in letters of light that the builder of the new Iraqi renaissance, Mohammed Shia Al-Sudani, will move Iraq forward to a free homeland and a happy people.

Whoever wants to continue the wheel of construction, development and reconstruction, and to distance Iraq from regional tensions and the specter of war, and to restrict weapons to the state, and to preserve Iraq’s sovereignty, security and stability, let him make the election day a glorious day and a historic day for the coup against corruption, failure and hateful quotas.

Let the slogan of the entire Iraqi people be “Iraq First”, for no interest is higher than the interest of the Iraqi people in a free and dignified life and a happy people, and no construction, development and reconstruction can take place without the builder of the new Iraqi renaissance, Mohammed Shia Al-Sudani. So, raise your hands, O Iraqis, in supplication to God Almighty to grant you victory on November 11th.

A supporter brings you a second term, to put Iraq back on the path of progress and prosperity, all say yes to the builder of the renaissance of the new Iraq, Mohammed Shia al-Sudani, and the faithful guardian of its security and stability and keeping it away from the specter of war. In conclusion, I say (O God, support your faithful servant and the son of your servant, Mohammed Shia al-Sudani, with a divine and supportive victory that puts Iraq and its people on the path of construction, reconstruction, development and security, and brings the second term with an easier and faster effort than the haters and the resentful can imagine..

A US delegation hosted by the Minister of Oil to discuss energy cooperation.

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Today, Monday, Oil Minister Hayan Abdul-Ghani discussed with US Under Secretary of Energy James Danley and Chargé d'Affaires Joshua Harris joint cooperation between the two countries in the oil, gas, and energy sectors.

Today, Monday, Deputy Prime Minister for Energy Affairs and Minister of Oil, Eng. Hayan Abdul-Ghani Al-Sawad, received the US Under Secretary of Energy, Mr. James P. Danly, and the Chargé d'Affaires of the US Embassy, Mr. Josh Harris.

During the meeting, prospects for joint cooperation between the two countries in the fields of oil, gas, and energy were discussed.

The meeting was attended by the Undersecretary of the Ministry for Gas Affairs, Mr. Ezzat Saber Ismail, and the Director General of the Technical Department, Mr. Hassanein Abdel Latif.

The oil and gas law returns to the forefront, and Parliament faces a test of political will.

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As the fifth legislative session draws to a close and the country enters the electoral phase, the federal oil and gas law returns to the forefront of the political scene in Iraq as one of the most sensitive pieces of legislation postponed since 2007, amid warnings that its continued obstruction will deepen the economic crisis and keep the country hostage to political disputes. The oil
and gas law is one of the most contentious issues between the federal government, the Kurdistan Regional Government, and the oil-producing provinces, as it stands at a crucial crossroads that determines the future of oil wealth management, which constitutes more than 90 percent of state revenues.

Amid repeated calls from the presidency and parliament to pass it before the end of the current session, fears are growing that its continued obstruction will disrupt the investment environment and weaken the unity of oil decision-making.
Energy expert Mohammed Hawrami believes that the continued absence of the law represents an economic and legislative failure that has had direct repercussions on oil wealth management and the general budget, as well as declining attractiveness for foreign investment in the energy sector.

Hawrami explained that postponing the approval of the law during this session means postponing the decision to a new session, along with the accompanying new tensions over powers and revenue sharing, making any further disruption costly to the national economy. He
added that the absence of a legal framework has created a state of administrative and financial chaos between the central government, the region, and the producing provinces, and has deprived Iraq of the ability to formulate a unified production and investment policy. This has negatively impacted the confidence of foreign companies awaiting stable legislation that guarantees the sustainability of their operations.
He pointed out that Iraq needs annual investments exceeding $15 billion to develop the oil and energy sector and improve refining and export capacities. However, the absence of legal regulation of contracts and financial distribution makes the investment environment risky and limits

the entry of major companies into the market.
Hawrami emphasized that the current parliament's window of opportunity is almost running out, requiring urgent action to adopt the law before the end of the session, as continued disruption means postponing any real economic transformation towards diversification and sustainable development.

For his part, Bassem Nughmish, a member of the Parliamentary Oil and Gas Committee, emphasized that the continued suspension of the law keeps the Iraqi economy mired in a cycle of rents and limits its ability to achieve balanced development.
Naghamish explained that the absence of the law means the absence of a regulatory framework for managing national wealth, which confuses financial planning, leads to disparities in the distribution of revenues between the center and producing provinces, and limits the state's ability

to implement a stable fiscal policy.
He pointed out that political disputes over powers and revenue-sharing mechanisms hinder the implementation of vital projects in the oil and energy sector and create an unstable environment for foreign investors seeking clear and stable legislation.
Naghamish added that delaying the enactment of the law deprives Iraq of billions of dollars in investment opportunities annually and weakens the state's ability to transfer oil revenues into productive and development projects in the provinces. He stressed the need for the law to include clear mechanisms for financial governance, management of joint fields, and the establishment of a national fund for the

development of producing provinces.
Naghamish concluded by saying that the next phase requires a comprehensive political and economic settlement that removes the oil issue from tensions and ensures a unified law that balances the powers of the central government and the rights of the regions, transforming oil wealth from a source of contention into a lever for development and stability.

New economic decisions in Iraq: exempting the Housing Fund from commissions and discussing the oil market until 2026.

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The Ministerial Council for the Economy issued a series of decisions on Monday, including approving the exemption of the Iraqi Housing Fund from electronic payment fees, deducting them as administrative expenses.

A statement by the Ministry of Foreign Affairs stated that “Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein chaired the 35th session of the Ministerial Economic Council, which was held at the Council building in the presence of the Deputy Prime Minister and Minister of Planning, the Ministers of Finance, Trade, Agriculture and Industry, the Secretary-General of the Council of Ministers, the Governor of the Central Bank, the Undersecretary of the Ministry of Oil for Distribution Affairs, the Deputy Chairman of the National Investment Commission, and the Prime Minister’s advisors for economic and legal affairs.” It indicated that “the Council discussed the items on its agenda and took the necessary decisions regarding them.”

The Council reviewed, according to the statement, “the executive plan for the poverty reduction strategy for the years 2026-2030. This plan was developed by the Ministry of Planning according to an integrated general framework that ensures the proper implementation of the strategy. It begins by defining the vision, mission and main objective of the strategy, which is to reduce the poverty rate by half. It then moves on to diagnosing priorities, foundations and assumptions. After that, implementation mechanisms and plans are developed to manage risks. Finally, the framework enhances the element of follow-up, monitoring and evaluation. The basic vision of the strategy is to transform the poor into productive people who are economically and socially integrated into society by empowering them and building their capacities.”

The statement added, "The Council approved the Ministry of Trade's request to recommend to the Council of Ministers the sale of local wheat to private mills at the previous price of 410,000 dinars per ton, in accordance with the global price equation. The Council also agreed to exempt the Iraqi Housing Fund from electronic payment fees, deducting them as administrative expenses, as the bank grants interest-free loans to citizens."

 

The Council hosted representatives from the State Oil Marketing Organization (SOMO) to discuss the Central Bank of Iraq's report on the analysis of the global oil market and its prospects until 2026. The report serves as a supporting tool in the economic monitoring process and the assessment of risks and future trends in energy markets, so that these reports can be taken into account when preparing the state's general budget and economic plans that support revenues that feed into the public treasury.

 

The Central Bank of Iraq (CBI) on Monday asked banks to write off loans granted to cancer patients, according to a document received by Al-Sa'a Network 

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Kirkuk Governorate laid the foundation stone on Monday for the Uruk factory project to manufacture electric, gasoline, and diesel cars.

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Kirkuk Governor Rebwar Taha said in a press statement followed by (Video News Agency) that Kirkuk and Iraq witnessed today a qualitative launch in the field of national industry with the laying of the foundation stone for the largest factory for manufacturing electric cars, which is the first of its kind in Iraq and the Middle East.

He added that the factory management has concluded preliminary understandings with a number of major American, German and Turkish automakers, with the aim of transferring modern technology to Iraq and enhancing its industrial capabilities in this promising field.

He pointed out that the project will contribute to providing thousands of job opportunities for young people in Kirkuk Governorate, and will support the national economy by reducing dependence on imports and encouraging local industry in the vehicle sector.

According to the information, the construction of the factory will be completed within 180 days with a two-shift work system per day, and actual production will begin within 365 days from the date of laying the foundation stone.

Commenting on the project, economic expert Ali Khalid said, "Establishing an electric car manufacturing plant in Kirkuk represents an important step toward diversifying the Iraqi economy and reducing its dependence on oil as a primary source of revenue."

Khalid explained that the project will put Iraq on the map of clean industries, especially in light of the global trend toward sustainable energy and reducing carbon emissions.

He pointed out that "such projects will contribute to building a modern industrial base and create real job opportunities in the fields of production, maintenance, and electrical technologies. They will also open the door to foreign investment and advanced technological partnerships."

 

Statement by Al-Sudani on the occasion of the third anniversary of his government gaining confidence

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We made a difference that was felt by the citizen.

 

 

Prime Minister Mohammed Shia al-Sudani issued a statement on Monday marking three years since his government gained the confidence of the House of Representatives. The statement reviewed the achievements made in various sectors and affirmed the government's national and legal commitment to completing the implementation of the government program in accordance with its priorities and strategic plans.

 

Today marks three years since Prime Minister Mohammed Shia al-Sudani and his government gained the confidence of the House of Representatives and began carrying out their constitutional executive duties.

On this occasion, the government renews its national and legal commitment to completing the implementation of the government program, in accordance with its priorities and objectives, as this is the path endorsed by the legislative authority and the work plan that meets the needs and aspirations of our people throughout Iraq.

It also emphasizes investing in the successes achieved in most areas and aspects of executive procedures, in order to achieve further gains and make a difference that citizens can feel in the economy, standard of living, and public services, and developing tangible digital indicators in the decline of poverty and unemployment rates, and harnessing the economic renaissance and infrastructure growth to achieve more standards of social welfare, and to support the civil peace and stability enjoyed by our great Iraq, and our people with all its fraternal spectrums. Everything that has been achieved is a direct result of the will and aspirations of our people for construction and reconstruction, and a result of the sustainability of diligent work to achieve the desired prosperity.

Today, we look forward to fulfilling the constitutional obligation in the upcoming legislative elections. We are confident that our generous people will continue to give and move forward to strengthen the state, bolster the democratic system, and preserve the free and independent decision-making power of all Iraqis.