Lack of credit: Iraqi banks retreat from lending and become "trustless piggy banks."
Some state-owned banks appear to have backed away from their credit plans for this year. In recent years, they had financed loans to citizens and the government to cover salaries and general expenses. This has raised questions about the future of the local banking system and public confidence in it.
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An informed source told Shafaq News Agency, "Some government banks, including Rafidain Bank, have suspended loans and advances to citizens, abandoned the use of automation and electronic payments in completing transactions, and returned to the traditional paper-based system." He pointed out that "requests are now subject to favoritism and nepotism, while the loans granted are limited and do not meet the need."
The source added, "Automation plans aimed at addressing inefficiencies and expanding services have been put on hold, even though automated systems help speed up transactions and reduce operational costs."
For his part, financial expert and former Central Bank director Mahmoud Dagher explained to Shafaq News Agency that "Iraqi banks will remain behind unless they establish an integrated electronic banking system that links their databases and provides modern deposit, investment, and borrowing services."
Economist Dhurgham Muhammad Ali noted that "priority in credit granting currently goes to housing and solar energy loans as part of the Central Bank's initiatives, as they are part of the government's program," noting that "other types of loans do not receive sufficient attention despite the availability of liquidity."
Standard & Poor's, the international credit rating agency, has classified the Iraqi banking system as "B-" (high risk), alongside Nigeria and Ukraine, noting that the country's institutional framework and economic credit suffer from "very high levels of risk and weak competitive and financing dynamics."
Baghdad / Iraq News Network - An informed source said on Monday that “some government banks, including Rafidain Bank, have suspended loans and advances to citizens and have abandoned the use of automation and electronic payment in completing transactions, returning to the traditional paper system,” noting that “requests are now subject to favoritism and nepotism, while the loans granted are limited and do not meet the need.” The source added that “automation plans that were aimed at addressing inefficiencies and expanding services have been frozen, even though automated systems contribute to accelerating transactions and reducing operating costs.” For his part, financial expert and former director of the Central Bank, Mahmoud Dagher, explained in a press interview that “Iraqi banks will remain behind unless they establish an integrated electronic banking system that links their databases and provides modern deposit, investment and borrowing services.” Standard & Poor’s, the international credit rating agency, classified the Iraqi banking system as “B- high risk” alongside Nigeria and Ukraine, noting that the country’s institutional framework and economic credit suffer from “very high levels of risk and weak competitive dynamics.” And financing.
Central Bank of Iraq: We have made progress in combating money laundering with advanced technologies.
The Central Bank of Iraq announced tangible progress in combating money laundering and terrorist financing at the Arab and international levels, noting that it has set priorities for addressing risks through mitigation strategies and the use of advanced data analysis and artificial intelligence technologies.
Hussein Al-Maqram, representative of the Central Bank's Anti-Money Laundering and Combating the Financing of Terrorism Office, said, "This progress is reflected in achieving good compliance rates in the mutual evaluation within the framework of the Middle East and North Africa Financial Action Task Force (MENAFATF) ."
He added, "The National Risk Assessment Team continues its efforts to reach more advanced levels by implementing national action plans and periodically evaluating performance."
Al-Maqram explained that "the National Money Laundering and Terrorist Financing Risk Assessment Team began its work last year, continuing to update the National Money Laundering and Terrorist Financing Risk Assessment Report. Key phases have included collecting and analyzing data from various sectors, identifying weaknesses and gaps in the legislative and executive framework, analyzing threats and risks at the national level, determining the overall risk level in various sectors, and setting priorities for addressing risks through mitigation strategies."
He stressed that "the plan to develop the work of the Anti-Money Laundering and Combating the Financing of Terrorism Office for the next phase includes enhancing the office's analytical and technical capabilities through the use of advanced tools and techniques in data analysis and artificial intelligence, expanding the scope of international and regional cooperation to exchange expertise and information, enhancing the level of coordination with judicial, security, and oversight authorities, organizing advanced training programs for national cadres in the field of financial investigation and financial analysis, and continuing to implement the national plan to combat money laundering and terrorist financing in cooperation with all partners."
A large US military convoy enters Baghdad through the Al-Suqour checkpoint west of the capital - Urgent
A local source reported, on Monday (October 6, 2025), that more than 50 American military vehicles crossed the Al-Suqour checkpoint on the international road linking Anbar and the capital, Baghdad.
The source told Baghdad Today, "The convoy included various military vehicles, including armored vehicles and minesweepers, in addition to large containers believed to be carrying logistical equipment and military supplies."
He added that "the movement took place under tight security measures, with Iraqi forces deployed along the route," noting that "this convoy is one of the largest US movements in recent months."
Countdown to the budget.. A parliamentarian warns of the repercussions of delaying the 2025 schedules on financial stability
The Deputy Chairman of the Economy, Industry and Trade Committee in the House of Representatives, Yasser Al-Husseini, warned today, Monday (October 6, 2025), of the repercussions of the government's continued delay in sending the 2025 budget schedules, noting that this delay threatens the financial and economic stability of the state, especially with the approaching end of the current fiscal year and the end of the life of the government and parliament.
Al-Husseini said in a statement to ”Baghdad Today”, that “the delay in sending the detailed budget tables raises serious concerns because of its direct impact on the state's obligations towards employees and service and investment projects”.
He added that “the committee has repeatedly stressed the need to expedite the completion of the budget within the constitutional time frame to ensure transparency and good management of public funds, and to avoid repeating the mistakes of previous years that led to the disruption of projects, the accumulation of debts, and the delay of development plans”.
Al-Husseini pointed out that “the continued delay without clear justifications reflects the weakness of coordination between the state's executive institutions, and raises question marks about the government's readiness to hand over financial files in an organized manner before the end of its constitutional term”, stressing that “any attempt to pass budgets or allocations in the last days will be subject to parliamentary and popular oversight and accountability”.
The state's annual budget is considered an essential tool for planning financial resources, implementing development and service projects, and ensuring the stability of the national economy. The Iraqi constitution sets a time limit for sending detailed budget schedules to the House of Representatives for discussion and approval before the start of the new fiscal year.
This issue is sensitive, especially with the current government nearing its end and the country preparing for the upcoming elections, which increases fears of any attempts to quickly pass the budget without ensuring transparency and accountability.
Securities: Modernizing the working methods in the Iraqi market in cooperation with specialized international companies
The Securities Commission confirmed, on Monday, the modernization of the infrastructure and operating methods in the Iraqi market in cooperation with specialized international companies, while emphasizing its efforts to enhance oversight and expand the base of listed companies.
Member of the Securities Commission Board, Yassin Taha Weiss, said: “The Commission is the body responsible for monitoring, supervising and regulating the securities sector in Iraq, and was established pursuant to Legislative Order No. (74) of 2004, which defined its legal, administrative and financial duties.
He added, "The Commission, twenty-one years after its establishment, is still young and capable of growth and development, and has witnessed remarkable progress in the preparation of regulations and systems." He explained that "the Commission is currently working on preparing a new draft law to replace the dissolved Coalition Provisional Authority order, in line with modern Iraqi legislation and increasing investment guarantees."
He added, "The proposed law has been given a second reading in the House of Representatives and is expected to strengthen the legal and regulatory environment for the securities sector." He noted that "the Commission has developed in the areas of regulation and supervision, and has contributed to supporting the Iraq Stock Exchange by modernizing its infrastructure and working methods in cooperation with major international companies specializing in electronic systems for securities trading."
Weiss pointed out that "the Authority is looking forward to increasing the number of listed companies and improving their performance," explaining that "improved performance of joint-stock companies leads to increased investor interest in trading their shares, and the broader the base of listed companies, the higher the volume of investment in the market, which is the goal the Authority is seeking to achieve in coordination with relevant sectoral entities."
Kurdistan Regional Government (KRG) delegation will visitBaghdad again
A former Iraqi Finance Ministry official said that the salaries of November and December need to be followed up and there is a risk of disappearing.”
A senior political source told 7Roj that a negotiating delegation from the Kurdistan Regional Government will visit Baghdad this week The delegation will
meet with the Iraqi Council of Ministers to resolve the technical issues between Baghdad and Erbil and discuss the issues that remain after the oil export agreement between Erbil and Baghdad, the source
said Baghdad is secure, but what is at risk are the salaries of November and December, which need to be closely monitored.
He said the Ministry of Finance and Kurdistan officials should send a special committee to Baghdad and get assurances for the salaries of the two months.
"If these efforts are not made, Baghdad may cause us problems and lose our salaries for several months," he said
Baghdad and Erbil await Iraqi cabinet meeting on August and September salaries
Kurdistan 24's correspondent in Baghdad said today, Monday (October 6, 2025), that the Minister of Finance in the Iraqi government, Taif Sami, is awaiting the decision of the Federal Council of Ministers regarding sending August salaries to employees of the Kurdistan region.
He added that the Iraqi Ministry of Finance has not yet begun procedures for disbursing salaries for the months of August and September, nor has the regional government transferred part of the local revenues amounting to 120 billion dinars, noting that the two ministries are awaiting the Iraqi Council of Ministers meeting scheduled for tomorrow, Tuesday.
Meanwhile, a Cabinet source told Kurdistan 24 that the salaries of the region's employees are not on the session's agenda, but may be discussed at the end of the meeting in additional paragraphs.
Pointing out that a number of Kurdish ministers intend to raise the issue of salaries for the months of August and September with Prime Minister Muhammad Shiaa Al-Sudani, especially after addressing the file of non-oil revenues.
On Monday, Omid Sabah, Chief of Staff of the Kurdistan Regional Council of Ministers, said in a press conference that the regional government is ready to hand over part of its non-oil imports to the federal government in exchange for settling the salaries of the region's employees for the months of August and September.
Sabah pointed out that the federal government has not yet issued a decision to pay the salaries for the two mentioned months, adding that there are those who are promoting it because the reason for the delay in sending salaries is the failure of the regional government to hand over non-oil revenues.
But he explained, saying: We announce from here that we are ready to hand over non-oil revenues as soon as the federal government takes measures to disburse salaries for the months of August and September.
Kurdistan: The federal government has not yet agreed to transfer August and September salaries
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The Chief of Staff of the Kurdistan Regional Council of Ministers, Omid Sabah, confirmed today, Monday (October 6, 2025), that the federal government has not yet agreed to transfer salaries for the months of August and September.
Sabah said in a statement followed by "Baghdad Today" that "the region is ready to hand over the two-month revenues to the federal government, amounting to 120 billion dinars per month, when the salary transfer procedures are completed," indicating that "the approval from Baghdad has not yet been issued regarding the delayed salaries."
The financial disputes between Baghdad and Erbil entered a new phase a week after reaching an agreement stipulating that the Kurdistan region would hand over all of its oil production to the "SOMO" company, with the exception of the quantities allocated for local consumption, in exchange for the federal government committing to paying the delayed salaries of the region's employees.
The agreement also included obligating the region to deliver about 120 billion dinars per month in non-oil revenues to Baghdad, as part of a comprehensive settlement mechanism between the two parties. The agreement came after a series of technical and governmental meetings, and its goal is to end the recurring salary crisis that has cast a shadow over the political and social scene in Kurdistan.
The Prime Minister directs the relevant ministries and authorities to remove obstacles facing the private sector.
rime Minister Mohammed Shia al-Sudani directed the relevant ministries and authorities on Monday to remove obstacles facing the private sector, stressing the importance of providing an appropriate environment for its work in various industrial fields.
The Prime Minister's media office said in a statement that "Prime Minister Mohammed Shia al-Sudani chaired the periodic meeting of the Industrial Coordination Council, attended by the Minister of Finance and the Ministers of Oil, Trade, Industry and Minerals, the Chairman of the Advisory Board, the Chairman of the Iraqi Federation of Industries, and a group of representatives of the industrial sector."
According to the statement, al-Sudani directed "all relevant ministries and authorities to remove obstacles facing the private sector and adapt laws to benefit industrial development plans and projects implemented across Iraq," stressing "the importance of providing an appropriate environment for the private sector to operate in various industrial fields by focusing on the industrial, legal, and legislative environment to ensure the wheel of investment in the country is moving.
" He also directed "members of the Industrial Coordination Council to pay attention to the private industrial sector and work to resolve the problems and obstacles facing its work, with the aim of expanding its participation and activity in developing the national economy."
The statement continued, "The meeting reviewed the topics on the agenda, as it was agreed to include partnership contracts concluded in all public companies affiliated with the Ministry of Industry and Minerals, with the private sector, by Cabinet Resolution (24413 of 2024), until the issuance of the new Federal General Budget Law, and because paragraph (Supporting the Industrial Sector / 2 / First) of the aforementioned resolution came in an absolute manner to include all raw materials entering into local industries without discrimination between the importing party."
He added, "The meeting witnessed approval to reduce the price of liquefied gas (LPG) to become (300) thousand dinars per ton, for industrial projects, except for brick factories that have a certificate of completion of establishment issued by the General Directorate of Industrial Development, the National Investment Authority or all investment authorities," explaining, "It was agreed to oblige ministries and entities not affiliated with a ministry and all governorates to cover their needs for liquid medical gases, industrial gases, liquid nitrogen, and argon from national factories."
He pointed out that "the meeting approved exempting industrial projects from the advertising and competition requirement, provided that the Minister of Industry and Minerals and the head of the Federation of Industries submit a specific recommendation on the matter." He explained that "the meeting agreed not to relocate industrial projects that have obtained the necessary approvals from the General Directorate of Industrial Development at the Ministry of Industry and Minerals, the National Investment Commission, and the Federation of Industries, which prove that they do not impact the environment according to environmental impact studies, and that the relevant departments in the governorates will direct industrial project owners to address their environmental violations."
Regarding addressing obstacles to the separation and ownership of industrial project owners established on common agricultural lands, the statement stated that "the Iraqi Federation of Industries was directed to hold a workshop attended by the Director General of the Real Estate Registration Department and the Director General of the Agricultural Lands Department, regarding environmental issues, while obligating the governorates to obtain the approval of the industrial and agricultural sector authorities before proceeding with the procedures for updating urban planning for cities."
He pointed out that "the Ministry of Trade's proposals were approved, which include the Ministry of Trade/Private Sector Development Department, in coordination and cooperation with the Ministries of Industry and Minerals, Planning, Labor and Social Affairs, and the Iraqi Federation of Industries, to prepare training programs for the private sector to develop small and medium enterprises, as well as expand contracts with local factories to market their products through their hypermarket outlets."
As part of the steps to support the national product and advance the production and industrial sector, the statement explained that "approval was given to update the Ministry of Planning's guide to encourage national products, regarding information related to industrial sectors on the ministry's electronic platform."
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Iranian Foreign Ministry: There are currently no plans to negotiate with Washington regarding the nuclear file
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Iranian Foreign Ministry spokesman Esmail Baghaei confirmed on Monday (October 6, 2025) that his country currently has no plan to hold negotiations with the United States, explaining that Tehran is focusing at this stage on studying the consequences of the recent steps taken by the three European countries in coordination with Washington regarding the Iranian nuclear file.
Baqaei said in his press conference, which was followed by "Baghdad Today", that diplomacy in Iran is an ongoing process based on communications and consultations, adding that any decision to resume negotiations will only be taken when Tehran believes that this path can be fruitful and serve its supreme national interests.
With regard to the UN Security Council.He pointed out that the Council did not take any legal decision regarding the re-imposition of sanctions on Iran due to the lack of consensus among its permanent members, noting that the European step to re-impose sanctions is a violation of Security Council Resolution No. 2231, which stipulates the end of restrictions on October 18.
Baghaei stressed that the Iranian nuclear program is completely peaceful and takes place within the framework of international laws, stressing that Iran will not accept policies of pressure or blackmail under the guise of diplomacy, and that it will make its future decisions in accordance with its national interests and political independence.
Iran confirms the security of its financial resources in Iraqi banks despite the activation of the "trigger mechanism."
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Secretary-General of the Iran-Iraq Joint Chamber of Commerce, Jahanbakhsh Sanjabi Shirazi, confirmed on Monday that Iranian financial resources in Iraqi banks are secure, despite the activation of the "trigger mechanism."
Sanjabi told the Iranian Tasnim News Agency that "the United States and the three European countries (France, Britain, and Germany) are seeking, by exploiting the Security Council and the trigger mechanism, to create an existential crisis within Iranian society and raise economic concerns."
He added, "Iran today possesses the expertise and defensive and economic capabilities that make it better prepared to deal with these threats than it was during the sanctions period between 2011 and 2015."
Sanjabi pointed out that Russia and China have declared their refusal to recognize the reimposition of sanctions, which reduces their international impact and eases pressure on Tehran. He explained that Iranian financial resources in Iraqi banks are secure, and there are no indications of a risk of them being frozen or confiscated, thanks to the preventive measures taken by the government and the Central Bank of Iran.
He continued, "Confronting psychological warfare requires conscious media management, controlling economic expectations, and strengthening national unity," explaining that "the Western goal is to weaken Iranian social security, not impose actual sanctions."
Iran is confronting the dollar's dominance by liberalizing gold imports and using them for trade.
The Iranian Economics News Agency reported that the unprecedented convergence between Iran's three branches of government regarding the liberalization of gold imports signals the beginning of what could be termed the "gold policy" in the Iranian economy. This strategy aims to break the cycle of the dollar and use gold as a non-petroleum currency for settling foreign trade. However, achieving this will not be possible without broad institutional consensus and the persuasion of influential stakeholders.
The agency added that in less than a few days after the snapback mechanism was implemented and sanctions were reinstated, the country's three branches of government unified their positions on a single issue: gold imports.
Mohammad Bagher Qalibaf, Speaker of the Shura Council, confirmed during a meeting with a number of economic activists that any type of gold from any currency source can be brought into the country.
Meanwhile, Gholam Hossein Mohseni Ejei, head of the judiciary, noted that supreme law permits the import of gold, but the Central Bank's position on the issue raises questions. The government, meanwhile, reiterated the facilitation and legality of importing gold bullion.
This rare political consensus, according to the agency, can be considered the beginning of the gold policy, a strategy aimed at bypassing restrictions on foreign currencies and breaking the cycle of the dollar, which has dominated a portion of Iran's foreign trade for years, to now confront the power of gold. Unlike the dollar, whose path depends on the banking and political systems, gold has a physical nature and global acceptance that makes it an independent settlement tool. The unprecedented rise in the price of an ounce globally over the past two years has increased its attractiveness.
The report concluded that if Iran had used gold's potential to offset oil revenues earlier, the pressures resulting from importing essential goods would have been much less today.
The rule of law is established by nominating al-Maliki as the next prime minister
The new coalition of the rule of law, unity, Tamisk nominated by Leader Nuri al-Maliki as the head of the Iraqi federal government has rejected the dismissal of the former minister Studies from 2006 to 2014.
The deputy said of the coalition Mohammed al-Shamri in his subordinate explanation of the issue, the rule of law exists in Maliki's leadership, the greatest and highest level of experience, especially in the search for metals.
If the rule of law coalition nominates Maliki as prime minister in the next government, the coalition is expected to win votes in the upcoming legislative elections Performances in December/November will be available at 40 – 45 locations.
After Maliki's departure from power, the rest of the rule of law coalition will put forward a unified leader for the head of government after every election cycle, except that due to differences and political debate Accordingly, the last time.
The campaign for the Iraqi parliamentary elections began on Friday morning, October 3, amid a relatively calm atmosphere السابقة.
According to the electoral commission, the number of eligible voters exceeds 21.4 million, compared with 20 million in the general election 1.3 million in special appropriations from the security forces and Nazis.
The Iraqi Council of Ministers has set a deadline of November 11, 2025 for the upcoming parliamentary elections.
Who will be named prime minister before the vote: Maliki or al-Sudani?
s the next parliamentary elections approach, the race within the "Shiite House" is heating up, amid early competition to shape the next government. While MP Bassem Khashan is betting on the Reconstruction and Development Coalition, headed by Mohammed Shia al-Sudani, gaining half of the Sadrist movement's seats in Baghdad, State of Law Coalition leader Diaa al-Nasseri asserts that Nouri al-Maliki is the coalition's "non-negotiable" candidate for prime minister. This signals an early struggle for seats within the Shiite arena, where ambitions overlap with regional considerations amid escalating tensions between Iran and Israel.
MP Bassem Khashan said in an interview with colleague Ahmed al-Tayeb, followed by Al-Alam al-Jadeed, that “half of the Shiite National Movement’s seats in Baghdad will be for the Reconstruction and Development Alliance, and the other half for others,” believing that “the Sunni component is the one benefiting from the Sadrists’ boycott.”
He continued, "The experience of the leader of the State of Law Coalition, Nouri al-Maliki, in power ended in disaster, the most prominent of which was the fall of Mosul, despite his ambition to return to the prime ministership." He added, "Maliki's eight years in power destroyed much of the State of Law coalition, and the coalition leader's luster faded after he left the prime ministership."
Khashan believes that "the current parliamentary session is perhaps the least performing among its peers."
He explained that "the concept of civil society has become vague, and many parties are adopting this approach. Furthermore, many of the signatures for party establishments are incorrect."
Regarding Al-Sadr's latest tweet, Khashan commented, "It is clear from Al-Sadr's latest tweet that boycotting is the best option."
In contrast, State of Law Coalition leader Diaa al-Nasseri said, "The Coordination Framework was the reason Iraq was spared strikes and a regional war."
He pointed out that "the Iranian color is less prominent in the new equation in Iraq," explaining that "the religious authority warned of the changes taking place in the region, and Iraq is not immune to them."
He stressed that "Nouri al-Maliki is the State of Law Coalition's candidate for prime minister, and this is non-negotiable. Hamid al-Ghazi is also being considered as a candidate to head the next government to appease the Sadrists."
He added, "Abdul Hussein Abtan and Hamid Al-Shatri are also candidates for the next prime ministership, along with Abdul Amir Al-Shammari, Naeem Al-Aboudi, and Faleh Al-Fayyadh, as well as current ministers who are being considered for the next prime ministership."
He pointed out that "votes and seats do not determine the position of prime minister, but the service record increases the candidate's standing for prime minister."
Baghdad's streets have become an open race on walls and sidewalks, flooded with thousands of election posters and banners announcing the start of the parliamentary competition season. From Rusafa to Karkh, from the southern cities to the northern governorates, the candidates' faces and slogans have spread to every corner, announcing the launch of a new election campaign that promises to be the most heated in Iraq's modern history.
Despite the variety of colors and banners, the slogans seemed almost repetitive, ranging from promises to fight corruption to calls for reform and state-building. Observers, however, believe that the crowded propaganda scene masks a void in the actual programs, amid the entry of independent candidates seeking to seize an opportunity amidst the swarm of traditional parties.
On October 4, the Strategic Center for Human Rights recorded more than one million election posters across the country, a scene that reflects the scale of the competition.
The campaign for the Iraqi parliamentary elections, scheduled for November 11, kicked off on Friday, October 3, and will continue until October 8.
On October 2, the High Elections Commission threatened penalties of up to 5 million dinars against violators, including a 10 million dinar fine for abuse of power, and the possible exclusion of some violators.
Some governorates, particularly in poor and working-class areas, have witnessed repeated visits by well-known candidates and politicians, under the pretext of monitoring the state of services and meeting citizens' needs. Videos have emerged of male and female candidates speaking sharply to private generator owners and local officials, to the point of transgression.
The price of electronic voter cards has been gradually rising in Iraq's vote-buying "exchange" as the election approaches, with the price of one card reaching $400, according to citizens.
Most indicators presented by observers point to a decline in electoral participation due to popular discontent and a sense that change in the political system is difficult, particularly given that political parties adhere to the principle of partisan, sectarian, and ethnic quotas in governing the state.
Some political and oversight circles estimate that spending in the upcoming parliamentary elections will be between 2.5 and 3 trillion Iraqi dinars. This shocking figure, equivalent to approximately 2 billion US dollars, raises dozens of questions about electoral fairness, the legitimacy of the funds used, and the absence of oversight and accountability mechanisms.
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