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Parliamentary services: No more delays in deciding on top executive positions

MP Mohammed al-Shammari, from the Parliamentary Services Alliance, confirmed on Monday that there is intensive parliamentary and political activity underway to finalize the cabinet formation. He revealed that the coming days will see the vacant ministerial posts filled and their nominees presented to Parliament.

Al-Shammari told the Information Agency that “the ongoing consultations and understandings between national forces and influential parliamentary blocs have reached their final and advanced stages after overcoming obstacles and resolving points of contention regarding the candidates nominated to fill the remaining ministerial positions, based on criteria of competence and merit.”

He added that “next week will be decisive in closing this stalled file permanently by including the vote on the remaining cabinet positions on the agenda of the House of Representatives sessions, granting them confidence and allowing them to proceed with managing the affairs of the state.”

Al-Shammari explained that “the current agreements pave the way for a comprehensive governmental and institutional stability that will positively impact the overall situation in the country,” noting that “the current stage is sensitive and cannot tolerate further procrastination or delay in filling senior executive positions.”

He emphasized that “the current economic reality and service-related challenges require the presence of competent ministers who possess full constitutional and legal authority to make strategic decisions, support the precise implementation of the government program, and expedite the completion of vital development projects that directly affect the daily lives of citizens.”

Almaalomah.me

160,000 dinars to the dollar… The parallel market reasserts its authority in Iraq.

The dollar exchange rate in the parallel market in Iraq has exceeded 160,000 dinars per 100 dollars, in a scene that brings back to the forefront fears of the widening gap between the official price and the market price, coinciding with talk of the arrival of new shipments of the American currency to the country, amid questions about the ability of dollar liquidity to calm the market and curb speculation. DinarInvestment Advice

The data indicates that the official price remains at 1,320 dinars per dollar in official transactions, while its price in the parallel market, as of Monday evening, exceeded 160,000 dinars per 100 dollars, amid a wide gap between the two prices that reflects the continued pressure on the exchange market.

Reasons for the rise: speculation, anxiety, and delayed remittances

In an interview with Shafaq News Agency, economist Ali Daadoush said that speculation and uncertainty, along with delays in official transfers through banks and increased demand for dollars to finance imports from Iran, are the main reasons for the current and fluctuating rise in the exchange rate.

Daadoush added that the uncertainty includes traders, importers and citizens who hold dinars, due to fears of a possible change in the exchange rate in the 2027 general budget, indicating that these factors collectively put pressure on the dollar in the parallel market.

He explained that the dollar traded in the parallel market comes to a large extent from the currency that the central bank sells to citizens for travel, study and treatment purposes, and then part of it returns to the local market after it is sold, which is known as the “reverse dollar” or “return dollar”.

He pointed out that the demand for the dollar has become much greater than the supply of it in the market, which is driving prices up and increasing the state of volatility.

Banks: Shipments alone are not enough

For his part, Nabil Al-Abadi, director of Al-Ittihad Bank, told Shafaq News Agency that the movement of the exchange rate in the parallel market is linked to a set of factors, foremost among them the level of demand for the dollar and the size of its supply, as well as the nature of transactions and transfers that take place outside official banking channels.

He explained that the arrival of new shipments of dollars to official channels could contribute to supporting cash liquidity, but its impact on the parallel market depends on the speed of its entry into the market and the extent to which it reaches those who actually demand the currency.

He pointed out that addressing the gap between the official and parallel exchange rates is not only related to injecting dollars, but also requires strengthening the role of the banking sector and facilitating access for dealers to foreign currency through official channels, thereby reducing the need for the parallel market.

What does the central bank’s data say?

According to data from the Central Bank of Iraq, foreign reserves fell to $80.633 billion by the end of July 2026, compared to $97.432 billion at the end of last year, a decrease of about $16.8 billion, or approximately 17.2 percent, over seven months.

In contrast, the Central Bank confirmed in a statement issued on September 19 that its foreign reserves are sufficient to meet the demand for foreign currency to finance foreign trade, settle bank cards and travelers’ requests at the official rate, attributing the current rise in the exchange rate to speculation, expectations and exploitation of the geopolitical conditions in the region.

From Kurdistan: Warning against fixing the dollar at 150,000

The concern is not limited to Baghdad. Jabbar Goran, spokesman for the currency exchange market in Sulaymaniyah in the Kurdistan Region, warned of potential negative repercussions if the Iraqi government proceeds to fix the dollar exchange rate at 150,000 dinars, suggesting that this rate will not be adopted in the general budget.

Goran said during a press conference attended by Shafaq News Agency, “The reaction of citizens and the market will be very negative and bad if the Iraqi government fixes the price of the dollar at 150,000 dinars,” adding: “Therefore, I believe that the price of the dollar will not be fixed in the budget at this level.” DinarInvestment Advice

He also expressed his surprise at the remarks made by a member of parliament regarding the possibility of amending the dollar exchange rate, noting that this matter falls within the jurisdiction of the Central Bank of Iraq.

He said: “It is strange to me that a member of parliament would talk about adjusting the dollar exchange rate, as this matter is only within the powers of the Central Bank.”

A true test for the central bank and the government

Observers believe that psychological factors and future expectations have become an influential part of market movement, as the expectation of a rise in the dollar’s price prompts some traders to increase their demand for it in anticipation of any change, which may create additional demand that raises the price and increases the gap.

The continued difference between the official and parallel exchange rates creates an incentive to seek dollars outside official channels, which makes addressing the gap dependent on the banking system’s ability to provide dollars regularly and transparently to legitimate demand, and not just by increasing supply.

The current situation puts the central bank and the government to a real test. Increasing dollar liquidity may provide some relief to the market, but it will not be enough on its own if the factors that fuel demand and speculation remain in place.

The most prominent question remains: Do the new dollar shipments represent the beginning of a path that will calm the market and reduce the gap, or will the parallel market absorb this liquidity and rise again? The answer will largely depend on the ability of official channels to meet demand and enhance confidence in the stability of the exchange rate, and on the decisions that the 2027 budget will contain regarding the exchange rate.

Shafaq.com

Today, a framework meeting will be held to resolve three issues, with the participation of Al-Zidi and the Minister of Finance.

An informed source said on Monday that the leaders of the Coordination Framework will hold a meeting in the presence of the Prime Minister and the Minister of Finance to discuss the vote on completing the government cabinet and next year’s budget.

The source added to Shafaq News Agency that ” the leaders of the coordination framework are holding a meeting this evening in the presence of Prime Minister Ali al-Zubaidi in order to discuss completing the file of restricting weapons to the state, and completing the ministerial cabinet and voting on it at the end of this week or the beginning of next week.” FinancialNews Reports

He added that “the meeting will also include hosting Finance Minister Faleh Sari in order to discuss the 2027 budget bill and related financial and economic issues, which have a political aspect.”

The Coordination Framework, in an emergency meeting last Friday night, confirmed that June 30, 2027 is the agreed deadline for implementing the constitutional article concerning the handling of the weapons issue, calling on all parties to commit to a comprehensive truce .

An informed source revealed to Shafaq News Agency that the State of Law Coalition, led by Nouri al-Maliki, has officially nominated Yasser Sakheel for the Ministry of Interior portfolio, and Haider Bahaa, who currently serves as Dean of the College of Pharmacy at Al-Nahrain University, for the Ministry of Higher Education portfolio.

Shafaq.com

Iraq resumes direct flights to Iran on Thursday

Iraqi Airways announced on Monday that the national carrier will resume direct flights to Iran starting next Thursday, October 8, 2026.

The company’s management stated in a statement received by Shafaq News Agency that the new operating plan includes regular daily flights between Najaf International Airport and the airports of Mashhad, Tehran and Isfahan, which contributes to enhancing the smooth flow of passenger traffic and providing regular air transport options between Iraq and Iranian cities.

The resumption of flights comes after air traffic between Iraq and Iran was halted due to new US sanctions targeting the Iranian aviation sector, which prompted ground service companies at a number of Iraqi airports to refrain from dealing with Iranian airlines for fear of being subjected to sanctions, leading to the suspension of flights.

On September 29, the Iraqi Ministry of Transport announced that Iraqi Airways had obtained a special exemption from US sanctions allowing it to resume flights to Iran, with operations to begin from Najaf International Airport after completing the regulatory and technical requirements.

Shafaq.com

No session on Thursday… “Vacant Ministries” meeting today and “State Administration” meeting tomorrow

The Iraqi parliament has postponed a session scheduled for next Thursday to complete the cabinet formation until next week.

According to an informed source who spoke to Shafaq News Agency, the postponement came as a result of ongoing disagreements over the candidates for the ministries of Labor and Social Affairs, Youth and Sports, and Planning, Reconstruction and Housing.

The source explained that “the Kurdistan Democratic Party is insisting on nominating Rebaz Hamlan for the Ministry of Reconstruction and Housing, as

He will put forward his party’s candidate for the position of fourth deputy prime minister.”

According to the source, the coordination framework will hold a meeting today to discuss the issue of completing the government, while the State Administration Coalition will also hold a meeting tomorrow to discuss the same issue.

In this context, MP Badr Al-Fahhal stated that the political blocs have nominated names to fill the vacant ministerial portfolios, and that the ball is now in Prime Minister Ali Al-Zidi’s court to choose the candidates and send their names to the House of Representatives for a vote and to grant them confidence.

According to Al-Fahl, who spoke to Shafaq News Agency, there is no specific date yet for holding a session of the House of Representatives to grant confidence to the candidates.

An informed source revealed to Shafaq News Agency yesterday, Sunday, that the State of Law Coalition, led by Nouri al-Maliki, officially nominated Yasser Sakheel for the Ministry of Interior portfolio, and Haider Bahaa, who currently serves as Dean of the College of Pharmacy at Al-Nahrain University, for the Ministry of Higher Education portfolio.

The leaders of the coordination framework will meet this evening, in the presence of the Prime Minister and the Minister of Finance, to discuss the vote on completing the government cabinet and next year’s budget.

Shafaq.com

Owning gold is not enough: when the reserve becomes the last line of defense for a nation’s economic security

The question preoccupying central banks today is no longer: How much gold do we have? The more sensitive question has become: Where is this gold located, and who can access it when a crisis strikes? At first glance, this issue appears to be a technical matter related to reserve management, but in reality, it reveals a deeper shift in the concept of economic security. In a world rife with wars, sanctions, trade disputes, and geopolitical risks, mere ownership of assets is no longer sufficient; the ability to access and utilize them in a timely manner has become part of their strategic value.

The recent Dutch move provides a clear example. The Dutch central bank announced the transfer of 86 tons of gold from reserves held in the United States and Canada, as part of a redistribution aimed, according to the bank, at making the country more prepared for severe crises. This move followed other European actions; France announced this year the repatriation of its gold reserves from the United States, while Germany had already transferred more than 216 tons from overseas storage sites, including 111 tons from New York and 105 tons from Paris.

However, interpreting these moves as a European exodus from the United States would be premature. The reality is far more complex. Countries are not abandoning international financial centers; rather, they are redistributing risk. The proof is that a portion of Dutch gold never returned to the Netherlands, but instead moved to London, which remains one of the world’s most important gold trading centers. This reveals a new equation: a country wants a portion of its reserves under its direct control, but also a portion in a deep international market where it can buy or sell quickly.

This leads to the fundamental issue: reserves are no longer measured solely by their size, but also by the degree of control over them, their liquidity, and their geographical location.
In past decades, holding gold in New York or London was commonplace. The global financial system was more stable, and major financial centers provided security, liquidity, and ease of trading.

However, the international environment has changed. Wars, sanctions, asset freezes, and trade disputes have brought back to governments a question that seemed less important in times of stability: what happens if a country possesses a strategic asset but cannot access it quickly enough during a crisis?

This can be understood as a shift from the concept of financial ownership to a broader concept: sovereignty over reserves. While gold held in foreign reserves remains the property of the state, major crises force governments to consider the operational, political, and logistical risks associated with using that asset. Therefore, diversifying reserves domestically and across several international financial centers becomes a form of insurance against unforeseen circumstances.

Most importantly, these moves come at a time when central banks themselves are becoming increasingly interested in gold. According to the report, central banks have purchased an average of about 1,000 tons of gold annually over the past four years. This figure reflects a shift in gold’s role within reserves. While gold doesn’t pay interest like bonds, it has a different advantage: it’s a physical asset that doesn’t, in itself, represent a financial obligation for another government.

Therefore, we may see two parallel trends continue in the coming years: increased interest in gold and greater diversification of where it’s stored. Countries don’t necessarily need to repatriate all their gold. Domestic storage is expensive and requires highly secure vaults, auditing and insurance systems, and specialized security infrastructure. Central banks are likely to move towards a distributed model: some held domestically, some in London or other major financial centers, and perhaps some in multiple countries.

The broader impact concerns the future of the global financial system. Moving tens of tons of gold doesn’t signify the end of the dollar’s dominance, nor does it mean that Europe has lost confidence in the American financial system. But if this trend is accompanied by central banks continuing to buy gold and diversify currencies, assets, and reserve holding locations, we may be facing a gradual shift from a highly concentrated model to a more diversified and risk-distributed system. TradeForex

This shift won’t happen overnight. The dollar’s position and that of the US financial markets are built on a massive economic and financial base, liquidity, and institutions accumulated over decades. Therefore, it’s a mistake to interpret every gold shipment moving from New York as a direct blow to the dollar. The most important indicator isn’t the movement of gold itself, but rather the way central banks are thinking: efficiency, returns, and liquidity are no longer the only considerations; geopolitical security is now playing a more significant role in reserve management calculations.

Herein lies an important paradox. In the past, countries moved gold abroad in search of safety. During the Cold War, for example, some European central banks kept a portion of their gold reserves in New York, away from the geopolitical risks in Europe. Today, in a different environment, some countries are redistributing their gold again due to different kinds of risks. This means that the concept of a “safe haven” is not fixed; it changes as the nature of international risks evolves.

While continued official demand for gold can still support the market, it is not the sole factor determining prices. Gold prices are also affected by interest rates, inflation, the dollar, growth forecasts, and the magnitude of geopolitical risks. Therefore, it cannot be concluded that repatriating reserves to Europe will, on its own, lead to a rise in gold prices. However, when central bank purchases coincide with political and economic concerns, gold becomes even more important as a hedging and risk management tool.

The issue, then, is larger than just the Netherlands, France, or Germany. We are witnessing a quiet redefinition of the concept of national reserves. A country preparing for a future crisis is not only asking about the value of its assets on paper, but also about its actual ability to use them when markets, trade routes, or political relations become disrupted.

Therefore, the most important lesson from the movement of European gold is not that a major crisis will occur tomorrow, but rather that countries are now acting on the premise that crisis preparedness must precede the crisis itself.

In the economic system that is taking shape today, simply owning gold may not be enough. The true power of reserves will increasingly depend on three interconnected elements: ownership, control, and accessibility. As central banks begin to rethink these elements, the movement of gold between vaults will cease to be a mere logistical process and become an indicator of a deeper shift: financial security is no longer separate from geopolitical security, and the location of wealth has become as much a component of a nation’s power as the value of the wealth itself.

Rawabetcenter.com

The United States congratulates Iraq on its National Day and commends the strengthening of sovereignty.

On Saturday, the United States congratulated the Iraqi people on their national day, affirming its commitment to strengthening the bilateral partnership and supporting the country’s stability and sovereignty. Dailynews reports

This came in a press statement issued by US Secretary of State Marco Rubio on the occasion of Iraq’s National Day on October 3, in which he praised the depth of historical relations and the strength and achievements of the Iraqi people.

Rubio pointed to the visit of Iraqi Prime Minister Ali al-Zaidi to Washington last July and his meeting with President Donald Trump at the White House, noting that it reflected the strength of the friendship between the two countries and the shared commitment to building a strong and prosperous future.

The US Secretary of State added that the economic partnerships announced during that visit embody the broad potential for trade and investment cooperation between American and Iraqi companies.

Rubio also welcomed Iraq’s continued efforts to strengthen its sovereignty and contribute to establishing security and stability in the Middle East region.

Iraq celebrates its National Day on October 3rd of each year, which is an official holiday throughout the country.

Shafaq.com

Import Allocation Monitoring Authority: Every dinar that enters and leaves the Iraqi treasury is subject to monitoring.

The General Authority for Monitoring the Allocation of Federal Revenues revealed on Saturday its procedures for monitoring the movement of funds from the treasury to spending entities, stressing that every dinar that enters and leaves the treasury is subject to monitoring. Dinarnews subscription

According to the official agency, the head of the General Authority for Monitoring the Allocation of Federal Imports, Susan Abdullah, said, “The Authority is independent and serves as an early warning system for combating corruption, as the Authority’s tasks include monitoring allocation and supervising funding from the Ministry of Finance to ministries and governorates, and then monitoring the optimal use of funding. Consequently, all revenues and imports that come to Iraq federally from any institution are investigated by the Authority, which verifies the sources of revenues.”

She pointed out that “every dinar that enters and leaves the Iraqi treasury is under the observation and monitoring of the commission,” indicating that “there are many corruption files that have been monitored and referred to the Integrity Commission, the judiciary, and the Financial Control Bureau.”

Abdullah emphasized, “There is no overlap in work with the Federal Board of Supreme Audit; rather, there is institutional integration between the Board and the Integrity Commission. They have the scope to operate, and we have sufficient scope.” She pointed out that “the Commission, which monitors the allocation of federal revenues, is the only entity in Iraq that oversees funds before disbursement and follows up on them after disbursement.”

Alrabiaa.tv

Minister of Finance: Tax documentation paves the way for a new phase of digital transformation

Finance Minister Faleh al-Sari affirmed on Saturday that tax documentation paves the way for a new phase of digital transformation.

A statement from the ministry, received by the Information Agency, indicated that “the minister oversaw the launch of the first electronic tax accounting system for major taxpayers during his visit to the General Authority for Taxes, in the presence of several directors general from the Ministry of Finance.”

He added that “the launch of the system comes within the framework of the government program and the Ministry of Finance’s direction towards digital transformation, modernizing financial management, and simplifying procedures, which contributes to raising the efficiency of tax operations and facilitating procedures for taxpayers.”

He pointed out that “the system allows taxpayers to complete tax accounting procedures electronically and pay amounts remotely, without needing to visit the Authority’s headquarters. It also allows for the electronic storage and archiving of documents and enables review of returns by audit and compliance teams, thus enhancing work efficiency and preserving the rights of the public treasury and public funds.”

According to the statement, the minister stressed that “the launch of the electronic tax accounting system represents a practical step in modernizing tax administration and transitioning from paper-based transactions to a digital system that keeps pace with technological advancements in tax collection methods.”

He added that “the electronic system represents the first phase of the digital transformation project for tax operations, and the first building block for a comprehensive electronic tax system,” noting that the selection of major taxpayers is a starting point for the project, with the digital transformation phases to expand later to include various taxpayer segments.

Almaalomah.me