Iraq's gold reserves reach record high, strengthening the dinar.
An economic expert revealed that Iraq's gold reserves have reached record levels, unprecedented for the Central Bank, in a clear indication of the country's strengthening financial strength.
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Record growth in reserves
Economic expert Munir al-Obaidi said in a post on his social media page on Wednesday, September 24, 2025, that the Central Bank of Iraq's gold reserves exceeded 24 trillion dinars, a 13.3% annual increase and a 135% increase compared to 2022.
He added that gold reserves accounted for 20% of the total reserves, which amounted to 123 trillion Iraqi dinars. He noted that this figure represents a record high since the establishment of the Central Bank of Iraq, as gold reserves had previously not exceeded 20 trillion dinars, and its contribution to total reserves had never reached 20% before.
The impact of gold on the Iraqi economy
Al-Obaidi explained that reaching this level of gold reserves enhances the strength and value of the Iraqi dinar, especially in light of the global fluctuations witnessed by various currencies, including the dollar.
He pointed out that the Central Bank of Iraq is keen to increase the percentage of gold reserves because it represents a factor of safety and financial stability in the face of international economic fluctuations, and enhances the ability to confront any potential financial crises.
Conclusion
The rise in Iraq's gold reserves to record levels is a significant financial achievement that reflects the Central Bank's prudent reserve management policies, enhances confidence in the Iraqi dinar, and provides additional protection for the national economy from global market fluctuations.
Deleting three zeros from the dinar: Citizens' concerns and experts' warnings
Talk of the possibility of removing three zeros from the Iraqi currency has raised concerns among a wide segment of citizens and economists alike, amid questions about the national economy's readiness and families' ability to withstand the shock of a currency change, given insufficient salaries and unfulfilled reform requirements.
Many citizens believe that reducing the number of zeros will reduce the nominal value of wages and pensions, making the decision worrisome unless it is preceded by real salary increases and the provision of a social safety net that enables citizens to adapt to the change.
One citizen said, "Before making this decision, the government should reach out to citizens and increase salaries and daily wages, because existing salaries are already weak and insufficient, and a measure like removing zeros will only increase people's suffering."
Another citizen added that implementing this measure requires a strong economy, sufficient financial reserves, and a lack of dependence on foreign policies such as those of the US Federal Reserve.
From a professional perspective, economic experts believe that deleting zeros is not without risk in the current circumstances, and that its implementation requires a series of preliminary measures that could extend for months.
Speaking to Kurdistan 24, Dr. Safwan Qusay, an economic expert, warned that "financial and economic stability at this time cannot tolerate a financial shock. Such a measure requires months of preparation, and the direct victims could be employees." He emphasized that its implementation imposes strict security and banking controls, including border and airport monitoring, and identifying the sources of currency and its holders to prevent suspicious flows.
Other circles fear that deleting zeros could open the door to the exploitation of corrupt funds, and could be used as a pretext for money laundering and the disposal of assets accumulated by major corrupt individuals if implemented without transparent mechanisms and strict oversight.
Analysts believe that the safe path for a decision of this type involves a series of simultaneous steps: strengthening financial reserves, gradually raising wages to protect purchasing power, launching broad awareness campaigns, and activating oversight mechanisms to prevent the exploitation of opportunities for illegal transactions. The call remains extended to the relevant authorities to initiate a comprehensive national dialogue with citizens and experts before any final decision is made, to avoid negative repercussions that could exacerbate living and financial conditions.
Removing zeros from the Iraqi currency is a proposal that has met with astonishment and aversion from some citizens.
One million dinars will become 1,000 dinars and so on.
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One thousand dinars could become one dinar.
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This will be the case if the relevant authorities begin
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the process of removing three zeros from the currency.
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Perhaps citizens will not accept it, as pessimism was present in their minds.
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especially since the level of salaries
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and wages is basically insufficient for them, in addition to
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the lack of a strong economic system in Iraq.
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Before taking this measure, the government should
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go to the citizen and strengthen
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his salary or what he earns as a daily wage.
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The citizen should be prepared for this shock because
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In reality, the salary shock is the salaries.
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Automatically, low salaries and inadequate pay.
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The citizen In addition to that, you come
Deleting travel documents reduces the value of the currency.
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It is achieved in the case of a strong economy.
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Debts. No financial problems. No problems.
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With the US Federal Reserve and the like.
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Therefore, when deleting zeros,
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There must be a strong economy with a lot of
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balance.
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As for economists, this issue, from their point of view,
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does not appear to be dangerous at the present time.
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At least, its implementation requires measures.
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Preceding it, and the initial damage that may result from
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Deleting zeros from the currency will affect employees.
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You feel that the dinar has become a fad.
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Financial and economic stability in this.
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The timing does not require a financial shock because
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Such a measure requires a number of Months
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And certainly the direct victims will be
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the employees. The issue requires closing the borders.
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It requires monitoring the airports. It requires knowing who they are.
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those who hold the Iraqi dinar they wish to exchange.
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Where did they get this dinar from?
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Iraqi
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Removing the travel documents from the currency will open a new door.
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for the corrupt, as some say, to get rid of
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the currency hoarded by the heads of corruption by
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replacing it with the new currency if the
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zeroes are removed from the dinar.
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From Baghdad, Saif Ali Kurdistan in the stiletto.
Kurdistan: All oil companies signed the tripartite agreement except one, and this does not affect
maybe by the end of the day they will have signed
The Ministry of Natural Resources in the Kurdistan Region confirmed, on Wednesday, the completion of its oil export obligations, while indicating that it is awaiting the signing of the agreement with the federal government.
The ministry said in a statement received by (Al-Youm Al-Akhbariya), that "the Ministry of Natural Resources has fulfilled all its obligations related to the export of oil from the Kurdistan Region with the federal Ministry of Oil, within the framework of the recommendations and decisions of the Council of Ministers."
It added that "all local and foreign companies signed, with the exception of one foreign company that did not sign the agreement, which does not affect the tripartite agreement between our ministry, the companies, and the federal Ministry of Oil."
It continued: "We are awaiting the response of the federal Ministry of Oil to sign the agreement, so that the State Oil Marketing Organization (SOMO) can start exporting oil as soon as possible and implement the terms of the agreement."
President Rashid at UNGA 80: Iraq Restores International Standing
President of the Republic of Iraq, Dr. Abdullatif Jamal Rashid, addressed the 80th Session of the United Nations General Assembly in New York, affirming Iraq’s restored role on the international stage and outlining the country’s vision for peace, development, and regional stability.
President Rashid highlighted Iraq’s leadership as current chair of both the Arab Summit and the Group of 77 and China, noting the country’s active participation in organisations such as OPEC, the Non-Aligned Movement, and the Organisation of Islamic Cooperation. He underlined that Iraq is once again a constructive partner in international and regional affairs.
President Rashid announced that Iraq is preparing for its sixth parliamentary elections, consolidating the process of peaceful power transfer, which he described as a “bright example” in the region. He reaffirmed Iraq’s democratic path, commitment to free and fair elections, and readiness to host international or regional UN offices as part of strengthening cooperation.
On security, President Rashid recalled Iraq’s successful fight against terrorism, stressing that global efforts must hold accountable all parties who finance or support extremist groups. He also urged collective implementation of UN Security Council resolutions on counter-terrorism.
Addressing humanitarian issues, President Rashid said Iraq continues to prioritise the safe return of displaced persons to liberated areas, while requiring international assistance to rebuild devastated cities. He underscored the importance of protecting minorities such as Yazidis and Christians and ensuring their right to live securely in their ancestral lands.
Turning to economic and development matters, Iraqi President said the country is pursuing reforms and diversifying its economy beyond oil, with significant investment opportunities in energy, water, electricity, agriculture, industry, and infrastructure. He called on the international community to support Iraq in recovering smuggled funds and expanding partnerships.
On environmental challenges, President Rashid warned that Iraq is among the countries most severely affected by climate change, citing desertification, water scarcity, and intensifying dust storms. He outlined Iraq’s efforts to develop renewable energy, improve water management, and cut carbon emissions, while urging stronger international cooperation, particularly with upstream countries on fair water-sharing agreements for the Tigris and Euphrates rivers.
President Rashid also used the platform to reaffirm Iraq’s principled foreign policy. He called for an immediate end to the suffering of Palestinians, condemning ongoing aggression in Gaza and other violations of sovereignty in the region. He renewed Iraq’s support for the establishment of an independent Palestinian state as the only path to lasting peace in the Middle East.
On regional stability, he rejected the use of Iraqi airspace for military operations and stressed the need to keep the Middle East free of weapons of mass destruction, while supporting the peaceful use of nuclear energy under international oversight. He also reiterated Iraq’s readiness to foster dialogue among regional powers and promote cooperation instead of conflict.
Concluding his speech, President Rashid declared: “Iraq’s message is clear: We are not asking for sympathy, but for partnership – a partnership to heal our land, secure our rivers, achieve our security, empower our youth, and unite our region rather than divide it.”
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