Introducing artificial intelligence to track market changes
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The Competition and Antitrust Council intends to introduce digital transformation and artificial intelligence to track market changes and developments, serving plans to adopt the latest global technologies to develop business practices. The Council also revealed its intention to increase fines for violating companies to be proportional to price changes.
Council Chairman Dr. Ahmed Younis Qassim told Al Sabah that the council intends to introduce digital transformation and artificial intelligence technologies to track market shifts and changes. It also intends to bring in experts to train its staff on this technology.
In another context, he revealed that the financial fines imposed by the current Competition Law No. 14 of 2010, which does not exceed three million dinars, are very small and insufficient to deter violating companies, given the volume of transactions of many companies, which amounts to billions of dinars.
In the same context, Qassim affirmed the council's efforts to review and tighten these penalties, making them proportional to future price changes. He noted that the law includes a prison sentence of one to three years, a penalty he deemed harsh compared to the weak financial fines, which fail to achieve the desired deterrent effect.
He pointed out that the Council had issued a guideline that was circulated among ministries and the Communications and Media Commission to ensure the prevention of monopolies in the internet and communications sectors. He explained that the instructions stipulated the necessity of having more than one company provide services within residential complexes, to ensure citizens' right to choose an alternative and receive better services.
Economic program
Planners rely on real figures to build their future plans, whether annual, five-year, or strategic. To simplify, the annual plan lasts one year, the medium-term plan lasts five years, and the final strategic plan lasts from (20) years onwards.
The government program is an accurate translation of the contents and objectives of the plans as a whole. How? Constitutionally, the term of any government formed during elections is limited to four years. Here, the government program must be designed in accordance with what was outlined in the plans. Accordingly, the government is supposed to fulfill its responsibility to implement the five-year (medium-term) plan. Here, we must return to the importance of numbers, as real numbers are the best means for construction and development.
When evaluating the results, it is noted that there was a flaw in the plan's implementation, primarily due to the inaccuracy of statistics (numbers). Most available statistics are estimates, flawed and exaggerated in some respects, and deficient in others. Therefore, the results did not achieve the desired level and were marred by stumbling blocks and errors, not to mention the corruption that flourished in the absence of strict oversight.
The Sudanese government has successfully completed the general population census for the year (2025). This success is recorded for the period and age of this government, and the credit goes to the executive bodies that remain while the government goes and others come, so this achievement is certainly credited to the executive bodies.
This discussion comes as we are on the cusp of new elections and a new government, calling for better planning based on statistics (more or less accurate figures), which are supposed to be relatively accurate this time because the possibility of errors is present, but they are minor after the census, of course.
In this case, the current Ministry of Planning is responsible for disclosing the census results with complete transparency, as this will contribute to formulating realistic plans for future economic phenomena, such as unemployment, poverty rates, the country's housing needs, and other issues, based on the census results.
Thus, the next government program will be based on plans with precise figures, and the results and solutions will be close to being accurate. The figures achieved from the 2025 census will remain the foundation upon which future plans are built and in light of which future government programs are designed.
This way, we can ensure the accuracy of decisions, procedures, and desired outcomes for rebuilding a country that has suffered significant setbacks, provided that future governments dry up the sources of corruption as a prerequisite for calculated success. Otherwise, the efforts expended and the billions spent on the general population census will be wasted, and things will remain as they are, with no real construction or development.
Al-Sudani directs the acceleration of financing industrial projects and support for national investment.
Prime Minister Mohammed Shia al-Sudani directed on Sunday to expedite industrial loan transactions and support economically feasible investment projects. He emphasized the importance of enhancing coordination between the Ministry of Finance, the Central Bank, and government banks to streamline financing procedures and ensure fairness and transparency in loan granting.
Prime Minister Mohammed Shia al-Sudani chaired a meeting on Sunday to approve recommendations for activating financing procedures for industrial initiative projects. The meeting was attended by the Minister of Finance, the Governor of the Central Bank, and a number of advisors and members of relevant committees.
During the meeting, progress was reviewed in implementing the industrial initiative, a key pillar of the government's development support policy. A detailed report was also presented on the position of government banks participating in the initiative, which has seen progress in the number of projects funded.
His Excellency stressed the importance of expediting industrial loan transactions and addressing incomplete applications. This should be achieved by enhancing coordination between the Ministry of Finance, the Central Bank, and government banks to streamline promotion and financing procedures and ensure fairness and transparency in granting loans, particularly for projects with real economic feasibility across various sectors, to support the national production cycle.
Mr. Al-Sudani also directed that the Industrial Bank undertake lending for the projects and investment opportunities presented at the Iraq Investment Forum held in Baghdad, considering them to be unique projects that represent strategic opportunities to support the national economy and enhance partnerships between the public and private sectors.
The Prime Minister noted that the industrial initiative represents a national platform for supporting the private sector, stimulating local production, and reducing reliance on imports. He explained that the increasing demand for industrial financing reflects a positive shift in businesspeople's orientation toward establishing factories and productive projects.
Iraq's gold reserves surge to 163 tons: PM advisor
Iraq.. Foreign reserves fell to 58 percent
Economic expert Manar Al-Obaidi said on Sunday that data issued by the Central Bank of Iraq showed that the total assets of the banking system reached about 275 trillion dinars at the end of the first half of 2025, an increase of 5 percent compared to the same period in 2024 as a result of an increase in reserves and capital by 26 percent.
Al-Obaidi explained in a Facebook post followed by (IQ), "Government debt recorded a jump of 116% and accounted for 13% of total assets, while foreign reserves fell to 58%, a decrease of 10% compared to last year."
Al-Obaidi pointed out that "the shift in the structure of assets in favor of debts at the expense of reserves may have consequences on the stability of the banking system, especially with most government debts being directed towards operating expenses instead of productive projects."
Imminent economic explosion
Smuggling dollars under the guise of gold is pushing the mithqal toward "one million," and popular concern is growing about the collapse of purchasing power.
Iraq is witnessing a complex gold crisis in early fall 2025, combining two main dimensions: the first is the record-breaking rise in gold prices both locally and globally, with the price of a mithqal approaching one million dinars; the second is the use of imports as a cover for smuggling dollars abroad. This dual equation has placed the Iraqi economy under increasing pressure, threatening monetary and social stability at a time of escalating regional tensions and increasing fragility in global markets.
Economic expert Nasser Al-Kanani explained to Baghdad Today that "the price of a mithqal of gold has reached unprecedented levels, approaching one million dinars, sparking widespread concern among citizens and traders. This sharp rise is linked to intertwined internal and external factors, most notably the rise in global gold prices as a result of geopolitical tensions and slowing economic growth, in addition to the decline in the value of the Iraqi dinar against the dollar due to speculation and the scarcity of hard currency in the local market."
Al-Kanani points out that the increased demand for gold locally as a safe haven for storing money amid financial market instability has contributed to the amplification of the crisis, especially given the absence of clear fiscal policies and weak oversight mechanisms for goldsmith markets. These factors have raised the costs of marriage and popular savings to unprecedented levels, reflecting the profound social dimensions of the economic crisis.
For his part, economic expert Ahmed Al-Tamimi confirmed to Baghdad Today that the import operations themselves have turned into a means of smuggling hard currency. Al-Tamimi told Baghdad Today, "Recently, we have witnessed gold imports from the UAE and Turkey more than in previous periods, which indicates the presence of dollar smuggling operations through such import operations, especially since the dollar for these operations is exchanged at the official rate via a special platform, which generates significant profits for some of these smugglers."
Al-Tamimi stressed that "there must be strict controls on gold imports from abroad, and imports must be according to specific weights and timescales between each transaction." He warned that the continuation of this pattern could lead to "renewed US measures on the dollar in Iraq." According to economic estimates, the continued exploitation of the official dollar platform for imports exposes Iraq to additional pressure on the financial system and increases the likelihood of international restrictions or sanctions.
Independent MP Kazim Al-Fayyadh revealed in an interview with Baghdad Today that "there are fake and non-fake companies working to smuggle currency in various illegal ways, some of which were uncovered by the competent authorities in recent times." Al-Fayyadh added that "despite the tightening of security and oversight by the Central Bank and other agencies, these companies are still working to smuggle currency, and this is considered the most prominent reason for the continued rise of the dollar in the parallel market." The statements reflect the nature of the overlap between economics and politics, as some of these companies operate under the cover of influential parties, which complicates the task of oversight and security agencies and makes smuggling a persistent phenomenon despite government campaigns.
The Parliamentary Security and Defense Committee, for its part, announced the implementation of a series of operations against currency smuggling mafias. Committee member MP Yasser Iskandar Witout told Baghdad Today, "Smuggling hard currency in all its forms drains the country's economic capabilities and leads to pressure on markets by raising the exchange rate, which in turn leads to higher prices." He added, "Six operations carried out in recent months represent qualitative strikes against hard currency smuggling mafias in Iraq, and they have borne fruit." However, he stressed that "smuggling has not ended yet, and efforts are ongoing to end it."
These attacks reveal an ongoing confrontation between state institutions and parallel economic networks. Security interventions have partially curbed the phenomenon, but the absence of long-term institutional solutions allows it to return in various forms.
From these data, it's clear that gold in Iraq has transformed from a mere consumer and investment commodity into a strategic asset reflecting broader crises. While the state benefits from the increased value of its gold reserves and the strengthening of the central bank's monetary position, society is paying a heavy price through price hikes and declining purchasing power, while imports become parallel channels for dollar smuggling.
Independent research estimates confirm that any radical solution requires linking fiscal and monetary policies with security measures, rebuilding oversight mechanisms for gold trade and imports, and providing citizens with alternative savings instruments that reduce their reliance on gold alone. Without these steps, gold in Iraq will remain a symbol of a double crisis: official gain and popular loss.
Iran removes four zeros from its currency
Iran's Islamic Consultative Assembly voted on Sunday to remove four zeros from the currency, through a bill amending the Monetary and Banking Law.
The bill stipulates converting every 10,000 current Iranian rials into one new rial, while retaining the name "rial" as the country's official currency.
The move aims to simplify financial transactions and mitigate the effects of the severe inflation that Iran has been suffering from for years.
It is noteworthy that the law removing zeros also requires the approval of the Guardian Council before it comes into effect.
This move comes after years of inflation and the deterioration of the rial's value against foreign currencies due to economic sanctions, with the US dollar now worth more than 900,000 rials on the parallel market.
Ziad Al-Hashemi: Removing zeros from the Iranian currency is a formality!
International transportation consultant Ziad Al-Hashemi said that Iran's decision to remove three zeros from its national currency is an attempt to mitigate the effects of the significant collapse in its value resulting from international sanctions imposed on it. However, he believes this measure will not succeed under the current economic and political circumstances.
Al-Hashemi explained in a statement monitored by the "Jarida Platform" that the process of deleting zeros is a sensitive and precise monetary measure for monetary revaluation, and can only achieve positive results if there are stable economic conditions, high confidence in the local currency, and political stability that supports monetary and fiscal policies.
He pointed out that the lack of stability in Iran's macroeconomy, the lack of confidence in the national currency, and the increasing demand for hard currency make the success of the zero-reduction process unlikely. He expected that pressure on the Iranian rial would continue, and that the currency would lose value again at a faster rate than expected.
Al-Hashemi emphasized that this decision could be considered a formal measure with a temporary psychological impact rather than a real economic solution, noting that the Iranian government "no longer has sufficient monetary tools to defend its currency or sustainably improve its value."
He concluded his statement by saying that resorting to such measures reflects the depth of the economic crisis facing Tehran and indicates that the current solutions "focus on superficial aspects rather than addressing the root causes of the deterioration of the Iranian currency."
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The salary delay crisis: An administrative and financial glitch that exposes the fragility of Iraq's financial system.
MP Mustafa Khalil Nassif, a member of the Parliamentary Finance Committee, criticized the government on Sunday for the delay in disbursing employee salaries. He argued that the problem is not related to a lack of funds as much as it is related to the absence of operating budgets and direct reliance on actual revenues, without a stable financial reserve that can be relied upon in times of downturn.
“Many government departments are experiencing a state of near-total paralysis due to the lack of sufficient operational allocations to cover necessary expenses,” Nassif said in a statement monitored by Al-Mada. He explained that “the crisis is not related to the lack of funds in principle, but rather to the method and mechanism of distribution, as the government relies directly on revenues actually entering the public treasury without a reserve balance that can be referred to when needed.”
He added, "This approach to financial management has led to repeated delays in salary disbursements despite theoretical financial coverage. This has created increasing pressure on employees and negatively impacted job performance. It has also disrupted the operations of government departments that rely on regular monthly funding."
Nassif pointed out that, "Previously, there was a financial surplus or a fixed balance in the treasury that could be relied upon to ensure timely payment of salaries. Now, however, disbursements are dependent on the monthly receipt of oil and non-oil revenues, which makes public spending dependent on market fluctuations and oil prices."
For his part, economic expert Mustafa Mahmoud told Al-Mada that “the delay in salary disbursements reflects a structural flaw in the management of public funds, resulting from the absence of a clear financial strategy that deals with revenues and expenditures based on sustainability rather than monthly flow.” He pointed out that “the excessive reliance on oil revenues has made public finances hostage to external factors, while successive governments have not made a real effort to build a cash reserve or a sovereign fund to mitigate the effects of periodic crises.”
Mahmoud added that "what is happening today is the result of an accumulation of temporary policies focused on filling the immediate deficit without addressing the root causes, such as weak local tax collection, inflated operating expenses, and the absence of an accurate financial database for public spending." He pointed out that "the delay in the 2025 general budget has exacerbated the complexity of the situation, as most ministries are currently operating on limited temporary allocations, which hinders the funding of operational and service projects."
He explained that "the solution lies not only in securing funds, but also in reforming the state's financial and administrative system by establishing more flexible spending policies, activating financial oversight tools, and reconsidering spending priorities to ensure the regular payment of employee salaries and the continuity of essential services."
These criticisms come at a time when the country is witnessing repeated delays in the disbursement of salaries to state employees, particularly in self-financing departments, amid growing complaints from workers in the service, education, and health sectors about the repercussions of these delays on their daily lives.
Observers link the ongoing crisis to the delay in approving the 2025 budget, which is still under review by the Council of Ministers. This comes at a time when the government is facing financial pressures resulting from fluctuating oil prices and rising domestic liabilities.
Experts point out that Iraq, despite recording relatively high oil revenues in recent months, still lacks sound financial management that ensures the sustainable distribution of resources. They emphasize that the absence of financial reserves and ready operating budgets means that any delay in revenues will immediately impact the state's obligations to its employees and institutions.
While the Parliamentary Finance Committee asserts that the continuation of this pattern of financial management will lead to further complications in the coming months, economic experts are calling for the development of a financial emergency plan based on diversifying revenue sources, improving local collection, and reducing unnecessary spending to ensure that the salary crisis does not recur in the future.
An economic expert proposes a mechanism to boost non-oil revenues by more than 8 trillion dirhams in Iraq.
An economic expert emphasized the multiple opportunities available to Iraq to boost its non-oil revenues, proposing a mechanism that would add more than eight trillion dinars annually to public revenues.
Economist Nabil Al-Marsoumi stated in a post on his Facebook account on Sunday, October 5, 2025, that "religious tourism is one of the most important sources of income for Iraq, surpassing direct financial revenues from development."
He said, "Regulating religious tourism in Iraq, including imposing entry fees (visas) on all Arab and foreign visitors, will boost non-oil revenues by more than 8 trillion dinars, which is almost double the direct financial revenues from the development path!!"
Following previous US threats, Iraq's Rafidain Bank closes its branches in Sana'a.
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Yemeni Minister of Information, Culture, and Tourism Muammar al-Eryani revealed on Sunday that the Iraqi state-owned Rafidain Bank has closed its branches in Sana'a.
Al-Eryani said in a blog post on the "X" website that "the decision of the Iraqi Rafidain Bank to close its branch in Sana'a and end its financial and banking activities is a step in the right direction and a direct result of international efforts aimed at drying up the sources of funding for the terrorist Houthi group affiliated with Iran."
He pointed out that this measure "reflects a positive response to government warnings and US and international pressure, and sends a clear message to other regional and international financial institutions about the need to review their activities and ensure they do not fall into the cycle of exploitation or use to serve the agendas of the Iranian regime and its terrorist arms in the region."
Al-Eryani asserted that "the Houthis have transformed financial and banking institutions operating in areas under their control into tools for plundering Yemenis' money and financing their cross-border terrorist activities."
Last August, US Representative Joe Wilson accused the state-owned Rafidain Bank of conducting financial transactions with the Houthi group in Yemen, threatening to cut off US financial support to Iraq as a result .
Wilson wrote in a post on X (formerly Twitter) that "the Iraqi state-owned Rafidain Bank is conducting financial transactions for the Houthis, a terrorist organization," adding, "We have a name for these countries: state sponsors of terrorism ."
"I will work to cut off funding to Iraq during the next appropriations legislation" in the US budget, he added .
Wilson also urged the US Treasury to "punish" Rafidain Bank.
Iraqi Embassy in Amman Celebrates Iraq’s 93rd National Day
Amman, Oct. 5 (Petra) -- The Iraqi Embassy in Amman hosted a reception on Saturday evening to celebrate the 93rd National Day of the Republic of Iraq, drawing a distinguished crowd from across Jordan's political, diplomatic, and business circles.
The event was attended by Speaker of the Lower House of Representatives Ahmed Safadi, Minister of State for Foreign Affairs Nancy Namrouqa, numerous ambassadors and heads of diplomatic missions, business figures, and members of the Iraqi diaspora in Jordan.
The evening opened with the national anthems of Jordan and Iraq, followed by a short documentary recalling Iraq’s accession to the League of Nations in 1932, a historic milestone now commemorated as the country’s national day.
In his address, Iraqi Ambassador to Jordan Omar Al-Barzanji underscored the deep-rooted ties between Iraq and Jordan, reaffirming Baghdad’s commitment to strengthening bilateral cooperation across various sectors.
The ambassador also acknowledged the care and support extended to the Iraqi community in Jordan, expressing appreciation for the leadership of His Majesty King Abdullah II and Jordan’s role in promoting Arab solidarity.
The celebration featured traditional Iraqi music and patriotic songs, offering a cultural tribute to Iraq’s heritage and resilience.
Iraqi parliament to continue work through election period: Lawmaker
Iraq said on Saturday that dissolving the current parliament is not under consideration and that lawmakers will continue their duties until early January, as elections are due to be held in nearly a month.
"The House of Representatives will continue its work and full powers until January 8, 2026, in accordance with the law,” Rebwar Hadi, head of the parliamentary legal committee, told the state-run Iraqi News Agency (INA), noting that "the current parliamentary term began on January 8, 2022."
Campaigning for Iraq's November electoins commenced on Friday and will run until November 8.
Posters and banners have already dominated streets across the country as nearly 7,800 candidates compete for 329 seats. More than 21 million voters are eligible to cast their ballots.
A total of 31 alliances, 38 parties, 23 independent candidates, and 56 quota seat contenders are participating, according to data from Iraq’s Independent High Electoral Commission (IHEC). Of the 7,768 total candidates, 5,520 are men and 2,248 are women. The 329-member parliament includes 320 general seats and nine reserved for minority groups.
Hadi added that holding elections “does not mean the end of the work of the House of Representatives, except in one case according to Article 64 of the constitution (dissolution of the House of Representatives), and this is not currently on the table, and there is no time left to dissolve," the legislative body.
Article 64 of the Iraqi Constitution stipulates that parliament may be dissolved before the end of its term either by an absolute majority vote from its members or upon a joint request by the prime minister and president. The article also bars dissolution while the prime minister is under questioning.
Recession alert: 2025 budget deadlock threatens Iraq
Delays in submitting Iraq’s 2025 budget to parliament could exacerbate the country’s financial and economic crisis, three Iraqi economic experts warned, citing risks of slowed investment, weakened trade, and a possible recession in the coming months.
The experts, speaking to Shafaq News Agency, criticized the government for failing to send the budget tables so far and for not taking clear steps to reprioritize spending.
Kazem Al-Shammari, a member of the Parliamentary Economic Committee, stressed that the budget is not merely a matter of approval or voting, highlighting that it determines financial allocations for investment projects and essential services, such as social welfare and the food ration card, which affect the largest segment of the population.
While warning that the delay directly affects the government’s ability to meet its obligations to citizens, he emphasized that the Parliament has repeatedly urged it to submit the budget tables, yet these calls have gone unanswered.
“The government is clearly failing in its constitutional duties,” Al-Shammari clarified.
Recession Threat
Iraq’s 2025 budget, one of the largest in the nation’s history at 198.9 trillion Iraqi dinars (around $153 billion), was approved in June 2023 and designed to cover fiscal years 2023 through 2025 with the same allocations each year, unless amended by the cabinet and approved by lawmakers.
Earlier, Finance Minister Taif Sami highlighted unresolved conflicts with the Kurdistan Regional Government (KRG) over oil contracts and revenue-sharing as a major obstacle. Compounding the issue, recent legislative changes in the Kurdistan Region affecting oil agreements have further delayed the submission of financial tables needed for the finalization of the 2025 budget.
Ahmed Eid, an economic researcher, warned that the delay is affecting the national economic cycle. “The budget is the main driver of the national economy. Without it, projects halt, job opportunities shrink, and cash flow declines,” he observed.
Eid emphasized that the absence of a clear financial vision has created market stagnation, unsettled investors, and weakened the capacity of both public and private sectors to finance production and services.
Highlighting the broader economic implications, he stressed that stimulating markets and boosting development are essential to reducing unemployment and improving public services. The release of year-end financial data, Eid noted, is a crucial step to achieve these goals.
Policy Shortcomings
Economic expert Mustafa Al-Faraj described the delay as a clear violation of the 2023 three-year Federal Budget Law, which mandates annual budgets be approved at the start of each year.
“The budget was approved based on $70 per barrel of oil, but prices have fallen below $65. This requires revising spending plans and cutting excess expenditures,” Al-Faraj emphasized.
He pointed out that the absence of adjustments despite oil price fluctuations exposes governmental shortcomings in financial management, particularly given that Iraq’s economy relies on oil exports for more than 90% of revenue.
Stressing that the delay has caused market stagnation and affected wide social groups, including employees, retirees, contractors, and investors, Al-Faraj attributed the problem to ongoing political disputes between the government and parliament, identifying this as the primary cause of the hold-up, especially as the current parliamentary term approaches its conclusion.
Salaries Still Flow
In contrast, economist Karim Al-Hilu downplayed concerns about a slowdown, offering a different perspective.
“Monthly salaries continue to be paid, representing two-thirds of the budget, and are directly injected into markets through spending and circulation,” Al-Hilu confirmed.
He added that foreign remittances remain open, goods are available both locally and from imports, noting that government investment projects in Baghdad and other provinces have continued, supporting the industrial and construction sectors.
“The real challenge is not the absence of a budget, but the lack of genuine support for domestic products facing unfair competition from imports,’’ Al-Hilu concluded.
Sulaymaniyah Prepares 48 Billion Dinars in Non-Oil Revenue, Awaits Final Decision to Transfer Funds to Erbil
According to information obtained by Channel8, Sulaymaniyah has prepared 48 billion dinars in non-oil revenue and is awaiting a final decision from its leadership before transferring the funds to Erbil.
Reduced Spending Across Most Institutions
Based on high-level sources within the Ministry of Finance cited by Channel8, Sulaymaniyah’s administration has allocated 48 billion dinars as part of its commitment to provide 120 billion dinars in non-oil revenue to Baghdad. Except for essential institutions such as hospitals and schools, expenditures across all other government departments have been reduced.
Awaiting Approval to Transfer Funds to Erbil
It was emphasized that the 48 billion dinars are currently ready, and Sulaymaniyah is waiting for its leadership’s decision to send the funds to Erbil, where they will be deposited into the Federal Ministry of Finance’s account at the Central Bank branch in Erbil.
Bank Source Denies Rumors of Unprepared Funds
Meanwhile, a source from the Central Bank in Sulaymaniyah denied to Channel8 all circulating claims suggesting that the 48 billion dinars are not yet prepared.
Launch of the "World Investor Week" conference
Under the patronage of Prime Minister Mohammed Shia Al-Sudani, and in the presence of the Chairman of the Securities Commission, Faisal Al-Haimus, the activities of the "Global Investor Week" conference and the "21st Anniversary of the Establishment of the Securities Commission" were launched, under the slogan "Towards an Advanced Financial Market - Iraq's Economic Vision 2030".
The conference was attended by a number of advisors, advisors to the Prime Minister, undersecretaries of ministries, general managers, a number of heads of bodies and entities not affiliated with a ministry, as well as departments concerned with financial investment and an elite group of investors.
The conference aims to introduce the pioneering role of the Securities Commission in enhancing transparency and developing Iraqi financial markets, and to honor distinguished and creative employees in the Securities Commission.
The Chairman of the Securities Commission, Faisal Al-Haimus, reviewed the work of the Commission, its achievements and aspirations for a better investment future.
The guests praised the work of the Commission, its development and its great achievements that serve the interest of the Iraqi economy, drive the wheel of investment forward, attract investors and stimulate the participation of the private sector in the service of the public interest.
The conference included live dialogue sessions in which the participants discussed It contains various issues related to financial investment.
A comprehensive plan to support small and medium-sized enterprises in cooperation with the Central Bank
Securities Commission: Thoughtful reforms to boost investor confidence and keep pace with global developments
Chairman of the Securities Commission, Faisal Al-Haimus, affirmed on Sunday that the government is working on well-thought-out reforms to boost investor confidence and keep pace with global developments. He also noted that the government is placing great emphasis on enhancing the investment environment in Iraq.
Al-Haimus said in a speech he delivered during the "World Investor Week" conference and the 21st anniversary of the establishment of the Commission, which was attended by a correspondent of the Iraqi News Agency (INA): "Holding this conference represents an important milestone in the development of the financial and investment sector in Iraq, and a clear message of the state's commitment to creating a modern investment environment based on transparency, trust and good governance, which enhances the position of the Iraq Stock Exchange as a key driver for supporting economic progress and achieving the goals of Iraq's Economic Vision 2030."
He added, "The government, under the auspices of Prime Minister Mohammed Shia al-Sudani, has devoted great attention to enhancing the investment climate and creating promising opportunities for companies and investors. The Authority is working to achieve this through carefully considered steps by reforming the legislative and regulatory structure, expanding the listing base, and adopting modern mechanisms that enhance investor confidence and keep pace with global developments."
He pointed out that "the activities of this conference will be the starting point for a new phase of cooperation that will contribute to strengthening Iraq's position on the global financial and investment map," adding, "Let us move forward together toward a strong financial Iraq that will enhance investor confidence and support the nation's economy."
Today, Sunday, the Securities Commission held the "World Investor Week" conference and the "Commission's Founding Anniversary" under the slogan: "Towards an Advanced Financial Market - Iraq's Economic Vision 2030."
Government advisor: New agreements to modernize the Iraqi market, enhance transparency, and attract investors
The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, affirmed on Sunday that financial markets represent the backbone of economic growth in Iraq. He also pointed to the existence of new agreements to modernize the Iraqi market, enhance transparency, and attract investors.
In a speech he delivered during the "Global Investor Week" conference, attended by a correspondent for the Iraqi News Agency (INA), Saleh said, "Iraq's Vision 2050 was launched a few weeks ago in clear phases."
He pointed out that "vision without action remains just a dream, and action without vision is a waste of time, while combining the two represents a true success for the progress of countries. This conference represents action and the realization of vision and success in Iraq's journey."
Saleh explained that "financial markets remain the essential link for economic development, and their absence represents a waste of money and real sectors." He noted that "the first phase of the vision began through the Securities Commission and the Iraqi Stock Exchange, as this is the first step toward progress."
He explained that "financial markets and financing precede all economic activities," stressing that "no real activity can flourish without financing."
In turn, Ali Jamal, CEO of the Iraqi Stock Exchange, explained during the conference that "the Iraqi Stock Exchange, as the only official institution licensed by the Securities Commission, represents a leading platform for supporting the national economy and providing a safe and regulated environment for investors."
He pointed out that "the market seeks to enhance its regional and international presence, and under the direct supervision of the Iraqi Securities Commission, it has joined the Exchange Refinery to link the Iraqi securities market with several Arab markets, opening new horizons for investors to transact across national borders and stimulate mutual investment."
He added, "The market also signed a memorandum of understanding with the Middle East Investor Relations Department to enhance transparency and disclosure, and support listed companies with investors locally and regionally. This is in addition to adhering to the instructions currently in effect by the Iraqi Securities Commission, so that all efforts can be combined to provide a transparent investment environment and expand the investment floor."
He stated that "the Iraqi Stock Exchange also seeks to modernize technical aspects and enhance the work of investors and securities companies by developing ready-made tools and platforms in the near future."
Jamal emphasized that "these achievements are not merely formal agreements, but rather living proof that the market is steadily moving toward development," noting that "the opening represents an investment front capable of attracting more local capital."
He concluded by saying, "Today, we celebrate these steps and reaffirm our commitment to continuing our work, enhancing transparency, developing the technological environment, and expanding the list of investors to serve the Iraqi economy and achieve everyone's aspirations."
For his part, Director of the Investor Relations Department, Saif Abu Al-Tamman, said during the conference: "The World Investor Day conference represents a fundamental plan to open investment horizons and bring investors to Iraq to discuss the future of the financial markets and diverse investment opportunities."
He pointed out that "Iraq possesses exceptional opportunities in the field of diversified investment, supported by the development plan produced by the state, given its pivotal role."
He continued, "The Iraqi market is a beacon in the Middle East and a great opportunity for investors toward a more prosperous future." He noted that "one of the important tools for achieving this significant growth is the stock market, as it serves as a platform for increasing corporate capital, enhancing transparency and governance, contributing to the growth of the national economy, and improving investor returns."
He explained that "today's meeting at this pivotal moment demonstrates cooperation under regulation and oversight, and is a path to fostering a stable and attractive investment environment." He added that "establishing a stock market in Iraq is a pivotal step toward opening the door to domestic and foreign investment, which will benefit the national economy."
He continued, "The financial market is one of the main drivers of the economy, and Iraq still faces challenges. Expanding the investment base by listing more companies on the market opens the door to real growth and strengthens the market's position as a pillar of growth and diversification."
He noted that "the importance of governance controls that ensure transparency and stimulate trading yields returns and is directly reflected in the country's gross domestic product. Some companies have a firm commitment to supporting the national economy and enhancing investor confidence through compliance and adherence to transparency, governance, communications, and contributing to building the digital infrastructure that enables companies to grow, creates new opportunities, and connects Iraq to the global economy."
He pointed out that "digital transformation is no longer just a fantasy; it has become a future part of the economy through the modern communications and services we provide. We are contributing to creating an environment that supports trade, opens up new job opportunities, and encourages innovation."
Abu Al-Tamman called on investors from inside and outside Iraq to "look to new horizons, because Iraq possesses tremendous potential, led by talented youth and a future-oriented market that we can turn into a regional hub for investment and sustainable growth."
Rubio: We have agreed on 90 percent of the content of the Gaza ceasefire
US President Barack Obama has said the process of releasing the hostages will take several days, while the US Secretary of State says a 90 percent ceasefire has been agreed, and an Israeli government spokesman said technical talks will begin tomorrow.
Speaking to reporters at the White House on Sunday, October 5, 2025, US President Donald Trump described the Middle East peace plan as "surprising" and said negotiations to release hostages could take several days.
"We don't need a lot of flexibility because everyone has agreed on it, but there will always be some changes," he said.
"The ceasefire will be in the interests of Israel, the entire Arab world, the Islamic world and the world," he said.
"We have agreed on 90 percent of the details of the ceasefire, only some logistical problems remain to be resolved," US Secretary of State Marco Rubio said in a televised interview.
The talks will not last for weeks, so the process must be accelerated, and as soon as a ceasefire is announced, Israel must immediately stop bombing Gaza, stressing that Gaza should not be bombed in the middle of the negotiations.
"Israel has no intention of forming a government in Gaza, but it wants someone to do it and prevent terrorist acts," he said. "We cannot form a government in three days because it requires an implementation plan, budget, support and expertise.
"The team will leave for Cairo tonight and technical talks are scheduled to begin tomorrow," Israeli government spokesman Shosh Badrossian told reporters.
On Friday, October 3, 2025, Hamas responded positively to US President Donald Trump's proposal to end the Gaza war.
According to the statement, the movement agreed to release all hostages and is ready to hand over the bodies of the dead hostages, while expressing its readiness to start negotiations through mediators to discuss Trump's proposal.
Trump also welcomed Hamas' response and called on Israel to immediately stop its attacks on Gaza
On Monday, September 29, 2025, US President Donald Trump told a news conference with Israeli Prime Minister Benjamin Netanyahu at the White House that the prime minister had agreed to a Middle East peace plan.
Israeli and Hamas delegations are scheduled to meet tomorrow
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direct talks between an Israeli delegation and a Hamas delegation on a ceasefire in the Gaza Strip are scheduled to begin on Monday, a Palestinian official and three Israeli sources said.
Sources said the talks are indirect, but a decisive step towards reaching a peace deal initiated by US President Donald Trump and includes a 20-point plan.
Israeli government spokesman Shosh Badrosan said Sunday that the Israeli negotiating delegation will leave for Cairo tonight and technical talks will begin tomorrow.
Hamas has said for more than 48 hours that it will abide by Trump's proposal to cease fighting and release hostages, and on Sunday reiterated its commitment to lay down arms and leave Gaza. But Gaza municipality spokesman Assem Nabiya told the media that hundreds of thousands of residents were still in danger of being shelled by the Israeli army, which is deteriorating and reducing services, especially food and drinking water.
"The Israeli army continues to bombard areas suspected of being Hamas hideouts, but in fact these areas are full of civilians and have a large population. Israeli hostages are being held by Hamas and their lives are in danger," he said.
On Saturday, October 4, 2025, US President Donald Trump issued a message on the platform of Truth Social, writing: Israel has temporarily suspended bombing of Gaza in order to free prisoners and the success of the Middle East peace process Israeli bombings have killed 67 Palestinians, including 45 residents of the Gaza Strip.
Iraq, Iran exchange war dead in new repatriation at Shalamcheh Border
Iraq and Iran on Sunday exchanged the remains of soldiers killed during the 1980–1988 war between the two countries, in a ceremony held at the Shalamcheh border crossing in Basra province.
Shafaq News correspondent reported that the handover ceremony began in the morning at the border post east of Basra, where the remains of 70 Iraqi and 48 Iranian soldiers were exchanged between representatives of both sides.
Most of the remains were of unidentified individuals, according to officials and images from the site.
Similar handovers have taken place in recent years through the Iraqi–Iranian Joint Committee, formed by both governments to locate and recover war victims’ remains. The process is carried out under the supervision of the International Committee of the Red Cross (ICRC).
The exchanges are part of ongoing humanitarian efforts under a 2008 Geneva agreement signed between Iraq and Iran with ICRC oversight. Official figures on the total number of recovered and repatriated remains have not been disclosed.
The Iran–Iraq War, also known as the First Gulf War, lasted eight years and caused an estimated one million deaths and vast economic losses on both sides.
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