Al-Sudani's advisor identifies the reasons for the decline in the dollar exchange rate.
The Prime Minister's financial advisor, Mazhar Mohammed Saleh, outlined the reasons for the decline in the dollar exchange rate and its impact on the country's economic recovery on Sunday.
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Saleh said, "The Iraqi parallel market has witnessed a significant decline in the dollar exchange rate against the dinar in recent months, reflecting shifts in demand and money supply, and raising questions about the extent to which this decline will impact economic activity and the balance of commodity prices."
He added, "Because the parallel (secondary) foreign exchange market is an information-based market, the efficiency of economic policy, with its financial, monetary, and commercial pillars, implemented in accordance with an integrated strategic framework, has contributed to transforming this market from a state of information noise with excessive price deviations, to a stable market that deals with clear and disciplined information (white noise), and in many cases, it has become led by the official market, not the other way around."
He pointed out that "the trend of the dollar's decline in the parallel market towards the official price can be attributed to the efficiency of coordination between government policies, through the following axes: (legally criminalizing the use of the dollar in local transactions, especially in the real estate market, which is one of the sectors with the highest demand for foreign currency, which strengthened the role of the dinar in daily trading, and the shift to an external financing system through international correspondent banks, instead of relying directly on the Central Bank window, a measure that reduced compliance risks and kept large traders away from relying on high-cost and high-risk parallel market financing)."
He added: "Integrating small importers into the official foreign currency financing network has enabled them to obtain dollars at the official exchange rate directly, without the need for intermediaries from currency companies. This represents approximately 60% of import activity, thanks to administrative facilitations and the reduction of bureaucratic links. This is in addition to the cultural shift in travelers' behavior towards using electronic payment cards in foreign currency, which has eased pressure on cash dollars, while maintaining the possibility of obtaining a specific cash share from airports on favorable terms and with strict compliance. In addition, a smart defensive pricing policy has been adopted, represented by the spread of cooperative societies to distribute food commodities, construction goods, and others, with import financing based on the official rate of 1,320 dinars per dollar. This has contributed to the stability of the commodity market and achieving a reasonable balance between supply and demand."
He pointed out that "the expected economic impacts can be monitored as follows: First, on the economic movement, which is represented by: (a decrease in import costs and an increase in purchasing power, strengthening confidence in the Iraqi dinar and stimulating local investment, and a revival of domestic commercial activity as a result of lower operating costs, and second, the economic impacts are directed at the prices of basic commodities, most notably (a decrease in the prices of imported food and medicine, and a reduction in inflation resulting from fluctuations in the exchange rate, as well as improving the purchasing power of citizens, and that the instability of the exchange markets has effects on the state of balance in the prices of basic commodities, and increases their fluctuations in such cases."
Saleh concluded by saying: “Efficiently controlling economic policy with its three pillars: fiscal, monetary, and trade, along with strong law enforcement, remains an important factor in providing a framework for stability, specifically: (maintaining the gradual unification of the official and parallel exchange rates, as well as increasing the supply of dollars through official channels, in addition to tightening controls on speculators and the black market, and stimulating local production to reduce dependence on imports within strong and stable supply policies that provide national producers with greater flexibility in supplying capital goods, raw materials, and production supplies.”
Governor: Karbala spends from the 2023 budget and invests Sudanese funding for pilgrimage projects.
arbala Governor Nassif Al-Khattabi said that the governorate is currently awaiting approval of the 2024 budget schedules, indicating that the completed projects related to the pilgrimages are part of the 2023 budget and will benefit the governorate as a whole. He pointed out that the projects for the million-person pilgrimage are linked to the Prime Minister's Office. Al-Khattabi confirmed that the food security projects are complete and have entered service and have not been used for other purposes. In a separate context, Al-Khattabi spoke about operations carried out during the pilgrimage, most notably the arrest of a cell using "deadly poison" in processions on the road to Karbala. He said that one of its members confessed to communicating with Israel.
Part of Al-Khattabi's interview with journalist Laith Al-Jazaery: "We are still waiting for the tables to be approved for the 2024 budget.
The Million-Minute Visits projects are linked to the Prime Minister's Office. Within a year, we quickly completed a large portion of the 2023 budget projects, benefiting from the million-Minute Visits. Now, we await the 2024 budget to be suitable for completing the remaining visit projects, benefiting the entire governorate.
All food security projects are completed, implemented, and in service, and nothing has been taken from them for other projects.
Some parties have attempted to exploit the visit for electoral purposes, and there are those within this atmosphere who are trying to benefit in any way possible. However, anyone who attempts to exploit Imam Hussein's visit for a specific political purpose will fail.
Prior to the Arbaeen pilgrimage, we were able to apprehend a cell with several missions, including the use of deadly poison in the Husseini processions on the axis of the walking route to Karbala. They also manufactured explosive devices to detonate among pilgrims and set processions ablaze. One of the cell members confessed to communicating with the Zionist entity.
Iraqi Banking reform: Between necessary change and crippling conditions
Iraq’s banking sector is facing one of its most critical junctures in years as the Central Bank of Iraq (CBI) rolls out new reform standards. While the measures aim to modernize the financial system and align it with global practices, economists and lawmakers warn they may be “impossible to implement” under Iraq’s current economic and political conditions.
Reform Targets and Investor Reluctance
At the center of the new requirements is a mandate for banks to raise their capital to 400 billion dinars (around $306 million) by the end of 2025. The target, however, appears increasingly unrealistic. According to economic expert Ahmad Abed Rabbo, investor reluctance—largely driven by US and international sanctions on dozens of Iraqi banks—makes such capitalization nearly unattainable.
Speaking to Shafaq News, Abed Rabbo acknowledged that the reforms contain positive elements but insisted that many conditions require urgent revision. He described the capital increase as “illogical,” particularly as many banks are barred from dollar transactions, suffer from low market value, and lack robust financial operations.
The economist also criticized additional burdens, including $2 million in mandatory service fees for reform consultancy firms approved by the Central Bank. He dismissed the figure as “exaggerated,” noting that banks had no prior agreement to allocate such sums. Another contested measure is the 10% ownership limit, which he argued deters potential investors, especially when most banks are already loss-making.
Abed Rabbo called on the Central Bank to involve private banks in shaping a new reform framework tailored to Iraq’s circumstances. Extending the timeline, he said, is essential to prevent forced liquidation or marginalization. “Reforms are indispensable,” he emphasized, “but they must be practical and context-driven—not a mechanism for eliminating banks from the financial system.”
Strict Standards or Structural Weakness?
Economic expert Mustafa al-Faraj described the Central Bank’s conditions as “strict and impossible” in the face of Iraq’s fragile financial environment. In comments to Shafaq News, he criticized the lack of direct support from the CBI, saying the institution should prioritize technical and financial assistance, debt rescheduling, lower interest rates, and government-backed incentives before demanding capital hikes or foreign partnerships.
He warned that without such support, many banks risk collapse, as the current climate is unsuitable for attracting foreign investors. Instead of strengthening the sector, “the reforms could accelerate liquidations and forced mergers.”
Al-Faraj acknowledged that the Central Bank’s intent to reform is genuine but warned the approach is detached from reality: “If the goal is to establish a resilient banking sector, the starting point must be real support and phased reforms—not measures that paralyze banks before they can recover.”
Parliament’s Alarm Over Sanctions and Oversight
From the legislative side, Kazem al-Shammari, a member of the Parliamentary Economic Committee, pointed to an even deeper problem: sanctions. He revealed that about 30 of Iraq’s 70–80 operational banks are currently under sanctions, while most others perform only basic transfer operations rather than comprehensive banking services such as deposits, lending, or financing.
Al-Shammari argued that non-sanctioned banks, if properly supervised, could adapt to the reforms. Yet, he cautioned that weak regulatory oversight and political interference remain the biggest obstacles. “Without effective monitoring, no real results can be achieved,” he said, stressing that government involvement in banking operations contradicts international norms of independence and financial freedom.
He further questioned why only Iraqi and Lebanese banks are being penalized for dealings with sanctioned states like Iran, while no other regional institutions have faced similar consequences. “This issue goes beyond Central Bank policy,” he explained, linking it to broader state-level decisions and political pressure.
Between Compliance and Collapse
For Al-Shammari, international standards are a double-edged sword. On one hand, compliance could open the door to foreign investment and integration with Gulf and global financial systems. On the other, applying such standards in Iraq’s unstable environment risks undermining already fragile institutions.
“If Iraqi banks uphold transparency and integrity, they can attract major global partners and foreign investments,” he predicted, adding that success in this direction could lay the foundation for rebuilding Iraq’s financial infrastructure.
Al-Sudani: Economic development must proceed through optimal investment of funds.
Prime Minister Mohammed Shia al-Sudani stressed on Sunday that economic development must proceed through optimal investment of funds in locations with the highest returns.
A statement from his media office, received by Al-Eqtisad News, stated that "Al-Sudani chaired a meeting devoted to discussing ways to maximize non-oil revenues and support and enhance the state's financial resources. The meeting was attended by the Minister of Finance, the Minister of Trade, the Mayor of Baghdad, the Governor of the Central Bank of Iraq, and a number of advisors and general managers."
He pointed out that "the meeting discussed the use of modern technologies, digital mechanisms, and automation to maximize revenues and promote projects with higher returns."
The Prime Minister emphasized that "economic development must proceed through optimal investment of funds in locations with the highest returns, and by developing plans to rationalize spending and reduce waste."
He explained that "the meeting discussed the Ministry of Trade's revenues and maximizing them, enhancing the quality of ration card items, the best economic ways to manage wheat purchasing and storage operations, the absorptive capacity for the coming seasons and spending in this regard, as well as discussing the organization of Baghdad Municipality's revenues, the optimal path for managing real estate resources, institutions and their projects and collection methods, in addition to presenting the implementation of collection in the electricity sector and the objective plans in this regard."
The Central Bank explains the importance of the Access to Finance Guide in structuring the banking sector.
In a speech during the launch of the Access to Finance Guide, the bank's Deputy Governor, Ammar Hamad Khalaf, said, "In cooperation with the German Agency for International Cooperation and the Association of Private Banks, the Access to Finance Guide was launched today to facilitate the financing situation, remove obstacles, and facilitate access to it with the aim of achieving development and increasing supply and demand."
He explained that "the facilities provided represent an important step for financial institutions and the restructuring of the banking sector, particularly for small and medium-sized enterprises," indicating that "the multiplicity of entities supporting these projects leads to the dispersion of efforts and a lack of focus on additional projects. Therefore, the first recommendation of the committee supervising the implementation of the national strategy for the sector is to establish an independent national entity to oversee these projects and work to mobilize financial and technical support for them according to an integrated vision that ensures optimal investment of funding sources."
He added that "a large proportion of small businesses remain part of the informal economy, which prevents them from accessing formal financing," noting that "the Central Bank has launched financing initiatives since 2015 that have helped support thousands of small and medium-sized enterprises, in addition to large projects and housing loans."
He pointed out that "the Iraqi government has recognized the importance of entrepreneurial projects and launched the "Riyada" initiative, from which hundreds of projects have benefited to date, and the Central Bank has become a significant contributor to financing these projects."
He continued, "The recently launched National Lending Strategy and National Financial Inclusion Strategy have facilitated access to financing, given its importance. This guide, whose launch we are celebrating today, complements the measures taken by the renewal strategy and aims to achieve key objectives, including enabling entrepreneurs to identify official sources of financing and enhancing financial literacy to achieve continuous and sustainable growth across various sectors."
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Al-Rasheed begins disbursing the first semi-annual interest on national bonds.
Rashid Bank announced today, Sunday, the commencement of disbursing the first semi-annual interest to holders of the first national bond issue, affirming its commitment to the timetable previously set by the Central Bank of Iraq and the Ministry of Finance.
The bank explained in a statement that "this step comes within the framework of its efforts to enhance confidence in national bonds as a safe savings and investment tool, in addition to their contribution to diversifying funding sources and supporting the national economy."
The bank urged citizens to "visit the relevant branches to receive their dues," stressing that "national bonds represent an important investment opportunity for citizens, as they offer generous returns with full government guarantees, which contributes to attracting local savings and directing them toward development projects."
The Association of Banks announces the launch of a guide to accessing finance in Iraq.
"The launch of the Access to Finance Guide in Iraq is a fundamental step toward empowering entrepreneurs, small and medium-sized enterprise owners, and all those seeking to contribute to building our national economy," said Ali Tariq, CEO of the Iraqi Private Banks Association, in a speech at the launch event of the Access to Finance Guide.
He added, "Access to financing is one of the biggest challenges facing youth and the private sector in Iraq today. Many innovative ideas and promising projects are stalled due to a lack of clear information about funding sources, available mechanisms, and required procedures." He explained that "this guide will serve as a simplified, practical reference, bringing together various financing tools and options that can benefit investors, entrepreneurs, or any startup."
He continued, "This guide would not have seen the light of day without the fruitful cooperation between the GIZ and the Central Bank, in the belief that enhancing financial inclusion and empowering the private sector represent a fundamental gateway to economic reform in Iraq."
He continued: "We are currently experiencing a pivotal phase in the development process, as the state moves to support and develop the private sector to become an effective partner in building the economy and diversifying sources of income." He pointed out that "this guide is not just a document, but rather a practical tool that will help thousands of young men and women and entrepreneurs identify the options available to them, whether through banks, financing companies, or government and international support programs."
He explained that "the Iraqi Private Banks Association affirms its commitment to working side by side with its partners to overcome obstacles, simplify procedures, and develop the business environment, thus opening the door to investment and innovation."
He pointed out that "the launch of this guide today is a message of hope to Iraqi youth that opportunities exist, support is available, and success is possible when there is determination and resolve, along with sound planning and cooperation." He expressed his thanks to "everyone who contributed to the preparation of this guide, and to all the parties that offered their expertise and support to make this initiative a success. I also thank you for inviting us to participate in issuing this guide, which reflects your commitment to supporting the economic reform process in Iraq."
He expressed his hope that "Iraq will witness more initiatives that will positively impact development and prosperity."
Türkiye is pushing for a new oil agreement with Iraq, and Baghdad is studying a draft.
Bayraktar pointed out that the capacity of the Iraqi oil pipeline through Turkey is 1.5 million barrels per day, but it has not been used at full capacity for 50 years.
He confirmed that his country recently informed the Iraqi government that the current agreement no longer meets expectations and does not meet the world's current energy needs.
He added that Turkey has sent a draft of a new agreement to the Iraqi side for the transport of oil, indicating that Iraq is currently reviewing it.
The Turkish minister stressed that his country is willing to use the Iraqi oil pipeline through Turkish territory at full capacity.
In late July, Turkey began negotiations with the central government in Baghdad to reach a more comprehensive agreement for the transport of Iraqi oil, as the crude oil pipeline agreement between Turkey and Iraq, in effect since 1973, expires on July 27, 2026.
The new agreement is expected to enable tangible, long-term cooperation in areas such as cooperation in crude oil and natural gas projects, hydrocarbon field development, partnerships in petrochemical and refining investments, and electricity generation and transmission projects.
It is noteworthy that the crude oil pipeline between Iraq and Turkey was operated in accordance with the agreement and related protocols concluded in 1973, and renewed in 2010.
The Kurdistan Region has decided to hand over any oil production exceeding domestic needs to SOMO.
Kurdistan Region Minister of Education Alan Hama Saeed announced on Sunday that the region's Council of Ministers has approved the delivery of any quantity of crude oil production above domestic demand to the State Oil Marketing Organization (SOMO).
Hama Saeed told reporters in Erbil that the regional council of ministers voted unanimously last week to end the oil issue.
He explained that, under the agreement concluded with the federal government, any oil produced above 50,000 barrels of crude oil—which is Kurdistan's domestic demand—will be delivered to SOMO. The regional cabinet approved this during its last session last week.
On Wednesday, August 13, the Kurdistan Regional Government's Ministry of Natural Resources announced that it had reached an agreement with the Iraqi Ministry of Oil regarding a mechanism for resuming oil exports.
The ministry said in a statement, "According to the text approved by a joint delegation of 23 people, including 17 members of the Iraqi Oil Ministry delegation, the meetings began on July 17, and included comprehensive field visits to all oil fields in the region. After evaluating technical issues and conducting extensive discussions, an agreement was reached on August 11 on the mechanism for exporting oil from the region's fields, whereby 50,000 barrels of daily production would first be allocated to meet the region's local needs, while the remainder would be handed over to the State Oil Marketing Organization (SOMO) for export purposes."
She explained that "resuming the export of Kurdistan Region's oil requires the federal government to hold talks with the Turkish government to ensure the implementation of the agreement."
The ministry's statement confirms information from earlier today, Wednesday, confirming an agreement between the Ministry of Natural Resources in the Kurdistan Regional Government and the Iraqi Ministry of Oil to resume exports of the region's crude oil under a special mechanism.
According to information, the agreement stipulates that the export process will be conducted in accordance with the daily production of the fields, with 50,000 barrels allocated to meet the region's internal needs, while the remaining quantities will be delivered to the state-owned oil company SOMO, affiliated with the federal government.
The information also indicated that the draft agreement was signed by a delegation from the federal Ministry of Oil and a delegation from the region's Ministry of Natural Resources, confirming that the federal delegation has returned to Baghdad.
According to the same information, the start of exports requires negotiations between the federal government and the Turkish government before the process is implemented.
Obstacles Facing Kurdistan's Oil Exports: Foreign Companies and Turkey's Approval
Economic expert Nabil Al-Marsoumi revealed on Sunday that Kurdistan's oil exports are suspended due to the refusal of foreign companies and the approval of Turkey.
Al-Marsoumi explained in a Facebook post followed by (IQ): "The first obstacle facing Kurdistan's oil exports is the approval of foreign oil companies, as these companies are still insisting on raising the cost of oil production and are not prepared to export it at a price of $16 per barrel, in addition to other costs that include transporting oil by tanker from the fields a distance of 200 to 300 km to the pipeline route."
He added: "International oil companies are also demanding Baghdad's recognition of their commercial contracts, obtaining payment guarantees for past and future oil exports, transferring expected oil sales payments to member companies in the association directly to those companies, and reaching a written agreement with Baghdad."
Al-Marsoumi pointed out that "the second obstacle is obtaining Turkish approval to resume pumping oil through the Ceyhan pipeline. Although Turkey has previously agreed to receive the oil, it needs to issue an official notification to Iraq confirming its readiness to begin the process. Then, the oil quantities will be placed in the tanks at Ceyhan port, so that SOMO can begin selling the oil."
Resuming Kurdistan's oil exports on the table: Details of the meeting between the Secretary of State and the US Chargé d'Affaires
On Sunday, August 17, 2025, Iraqi Foreign Minister Fuad Hussein discussed with US Chargé d'Affaires Stephen Fagin the role of US oil companies operating in Iraq and the resumption of Kurdistan's oil exports.
A statement from Hussein's office, a copy of which was received by Al-Jabal, stated, "Foreign Minister Fuad Hussein received, on Sunday, the US Chargé d'Affaires in Baghdad, Ambassador Stephen Fagin. During the meeting, the course of bilateral relations between Iraq and the United States was discussed, particularly with regard to the role of US oil companies operating in Iraq, in addition to discussing the outstanding issues between oil companies operating in the Kurdistan Region, and ways to address them to allow the resumption of oil exports from the region's oil fields."
The statement added, "The two sides also discussed regional developments, with Ambassador Fagin reviewing the US government's position on developments in the Middle East."
Fouad Hussein: We need to enact laws to establish a constitutional partnership between the center and the region.
In an exclusive interview with Shams TV from Erbil, Iraqi Foreign Minister Fuad Hussein spoke about the regional challenges that have plagued the region since October 7.
He stressed that Iraq has so far managed to distance itself from the conflict thanks to a combination of internal efforts and external diplomatic efforts.
Iraq faces the storm
Hussein said, "We worked on two foundations: internal and external. Internally, the prime minister and political leaders played an important role in dialogue with armed factions to prevent the country from becoming embroiled in war. Externally, we intensified communications with the United States and influential Arab countries to pressure Israel and prevent the war from expanding into Iraqi territory."
He explained that "the Iraqi government adhered to the constitution and ensured that the decision of war and peace was in the hands of the state, not the factions," stressing that "bringing Iraq into war would have led to the destruction of everyone, including those factions themselves."
Weapons outside the country
Regarding the issue of illegal weapons, Hussein pointed out that "the issue cannot be resolved through violence, as it could lead to internal fighting. Rather, it must be resolved through rational dialogue among Shiite forces first, followed by a more comprehensive national dialogue." He added, "Weapons outside the framework of the state cannot be accepted, but reaching this outcome requires gradual progress and political understanding."
Iranian influence and international balance
In response to a question about Iranian influence in Iraq, Hussein said, "It cannot be said that Iran rules Iraq, but it is unrealistic to deny its influence. Iraq has been suffering from a sovereignty crisis since the 1990s, and restoring it requires building strong institutions and reducing foreign interference." He emphasized that Iraq's relations with Iran, as with the United States, are based on a delicate balance to protect the Iraqi arena from becoming an arena of conflict.
The relationship between Baghdad and Erbil
Regarding the crisis in the relationship between the Kurdistan Regional Government and the federal government, Hussein emphasized that "the problem stems from a centralized culture in Baghdad and the absence of legislation that translates the constitutional provisions into clear laws." He asserted that "the constitution guarantees federalism, but the failure to translate its provisions into laws created a gap that was exploited to reinforce centralization."
He added, "We need to enact fundamental laws, such as the Oil and Gas Law and the Federal Council Law, to consolidate the constitutional partnership between the central government and the region."
His position on the political process
Regarding the Kurdistan Democratic Party's (KDP) threat to withdraw from the political process over salaries and oil, Hussein said, "There is debate within the party, but the general trend is that the solution lies in returning to the constitution and establishing a true partnership, not in withdrawal."
A look to the future
At the conclusion of the dialogue, the Iraqi Foreign Minister affirmed that he was realistic but optimistic: "We are approaching our sixth elections since 2005, and this is an important step despite the shortcomings. Continuing the democratic process and consolidating the federal system are the two fundamental pillars for protecting Iraq."
Fuad Hussein and Fagin discuss ways to address obstacles to resuming Kurdistan Region oil exports
Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein discussed bilateral relations, the oil file, and regional developments with the US Chargé d'Affaires.
Today, Sunday, August 17, 2025, Hussein received the US Chargé d'Affaires in Baghdad, Ambassador Stephen Fagin.
During the meeting, the two sides discussed the course of bilateral relations between Iraq and the United States, particularly the role of American oil companies operating in Iraq. They also discussed outstanding issues between oil companies operating in the Kurdistan Region and ways to address them to enable the resumption of oil exports from the region's oil fields.
The two sides also discussed regional developments, with Ambassador Fagin reviewing the US government's position on developments in the Middle East.
Abdullah: Kurdistan Region employees' salaries will be transferred after oil exports resume.
Deputy Speaker of the Iraqi Parliament, Shakhwan Abdullah, confirmed that there are no longer any obstacles to the resumption of oil exports from the Kurdistan Region, noting that other issues have been resolved, and that salaries will be transferred with the resumption of oil exports.
Shakhwan Abdullah said during a press conference that the salaries of Kurdistan Region employees will not be delayed, and that the salaries for June and July will be transferred.
He added that recent agreements between the Kurdistan Regional Government and the federal government regarding non-oil revenues will open several channels for salary disbursements starting next week, and that the issues are expected to be resolved within the next few days.
He pointed out that the Kurdistan Regional Government has provided concessions on the oil issue, as well as significant concessions on non-oil revenues based on the Financial Management Law. He noted that the main problem in Iraq lies in the failure to issue the necessary decisions and directives in accordance with the laws.
Shakhwan Abdullah emphasized that Iraq is a federal system, and that the constitution contains provisions relating to the collection of federal revenues and their redistribution to the provinces. However, the Iraqi parliament has not yet passed any law in this regard, leading to the implementation of centralized laws and the emergence of disagreements.
He added, "As long as this centralized mentality persists, agreements will not achieve any progress. But now there is an understanding, and the constitution must be implemented and the Kurdistan Region's dues paid."
Some of them are crucial.. The Coordination Framework will meet tomorrow to discuss five files.
An informed source within the Coordination Framework, which brings together Shiite political forces excluding the Sadrist bloc, revealed the agenda for the framework's meeting scheduled for Monday evening, Sunday.
The source told Shafaq News Agency, "The framework will discuss a number of important issues tomorrow, Monday, including the visit of the Secretary of Iran's Supreme National Security Council, Ali Larijani, to Baghdad last Monday, and his signing of a security memorandum of understanding related to security coordination on the common border between the two countries."
He added, "The framework will also discuss the withdrawal of US forces from Iraq according to the agreed-upon timetable, including a full withdrawal from the Iraqi government-controlled area by September 2025, and from the Kurdistan Region by September 2026."
He pointed out that "the Coordination Framework will also discuss the issue of oil exports via the Turkish port of Ceyhan, which has been suspended since March 2023 following a ruling by the International Chamber of Commerce's Court of Arbitration in Paris, resulting in losses estimated at billions of dollars due to the disruption of supplies."
The source also revealed that the framework will discuss the parliamentary elections scheduled for November 11, 2025, the issue of the Electoral Commission's disqualification of some candidates, and the compensation mechanism for those excluded, who number in the hundreds.
In this context, the source noted that "the Coordination Framework forces may resort to holding a subsequent meeting with the head of the High Elections Commission to discuss the exclusion and compensation mechanism in some detail and in accordance with applicable laws."
For its part, the Electoral Commission clarified that the disqualifications were due to the candidates' violation of Article 7/Third of the House of Representatives Elections Law of 2018.
Article 7/Thirdly, of the law stipulates that the candidate must be “of good character and conduct, and not have received a previous pardon for crimes of financial and administrative corruption or misdemeanors that violate honor.”
As for the final aspect of the framework meeting, the source said it "will include a discussion of the possibility of passing the Popular Mobilization Law and its future consequences for the country. This is expected to be discussed in a preliminary manner during tomorrow's meeting, Monday. A special meeting may be held regarding the Popular Mobilization Law to agree on a mechanism for passing it or postponing it to the next session, in a manner consistent with the requirements of the current stage."
In this regard, Ibtisam al-Hilali, a member of the Coordination Framework, revealed to Shafaq News Agency on Sunday that there is a movement within the House of Representatives to collect signatures to hold an upcoming session to vote on the Popular Mobilization Forces (PMF) law.
However, Member of Parliament Jawad al-Yasari previously confirmed to Shafaq News Agency that there is no directive from the parliament's presidency or a concrete date for resuming scheduled sessions to discuss and vote on a number of important laws, including the Popular Mobilization Forces law.
An economic expert reveals the four financing mechanisms for the Iraq-China agreement.
Economic expert Nabil Al-Marsoumi explained on Sunday that the amount deposited into the Iraqi-Chinese agreement account amounted to 3.132 trillion dinars in the first half of this year, noting that the agreement operates through four specific financial mechanisms:
Al-Marsoumi indicated in a Facebook post, followed by Al-Mutala'a, that Iraq has increased the daily amount of oil allocated to this account from 100,000 barrels per day to 150,000 barrels per day to finance a number of projects included in the three-year budget.
According to the decree, the agreement operates through four specific financial mechanisms:
1. Settlement Account: Iraq deposits into this account the equivalent of 10% of its net monthly oil export revenues to two Chinese state-owned companies. The amount of oil allocated to this account has been increased from 100,000 to 150,000 barrels per day, as part of Iraq's OPEC quota.
2. Hedging Account: This account is intended to guarantee debt repayment in the event of borrowing from Chinese banks, should oil revenues not be sufficient to finance projects. The mechanism requires Iraq to deposit an amount equivalent to 150% of the value of the debt service for the projects for the next six months.
3. Contribution Account: This account represents Iraq's contribution to loans it receives from Chinese banks. If needed, Iraq receives credits worth $1.8 billion within a total credit ceiling of $10 billion. Iraq contributes 15% to cover interest and installments, while the remaining 85% represents the net loan provided by the Chinese side.
4. Investment Account: Any surplus Iraqi funds will be deposited into this account, to be used later to finance projects within Iraq implemented by Chinese or international companies, or to provide the necessary equipment.
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