GP Q: Iraq Update as of 2nd October 2026
IRAQ
Iraq’s banking cleanup is not a rumor.
The Central Bank is running it in public.
Governor Nizar Nasser Hussein has said: the reform program is still underway, coordinated with Oliver Wyman and aimed at a more competitive sector that is open to the international financial system.
Separately, Baghdad and the US Treasury reached an understanding to return restricted banks to non-dollar correspondent channels once compliance and governance tests are met.
Seven banks are already qualified for that channel.
Dollar access comes later, only after further relicensing.
Cabinet formation is a separate, real process.
Parliament confirmed Ali al-Zaidi’s government on 14 May 2026 with 14 of 23 ministers in place.
Interior, Defense and other posts remain vacant while parties bargain over names.
Neither point is a rate event.
One is a compliance rebuild.
The other is unfinished cabinet arithmetic.
Sources
CBI, reform still running:
https://cbi.iq/news/view/3314
CBI, seven banks back into correspondent channels:
https://cbi.iq/news/view/3263
Council of Representatives:
https://iq.parliament.iq/en/
Source(s):
• https://x.com/argosaki/status/2106233314642460975
Courtesy of Dinar Guru: https://www.dinarguru.com/
Reset Intelligence Outsiders agree to settle in your money once they believe in your books. Look at what you’ve watched Iraq do – audits, bank seizures, tellers trained, salaries moved to cards, customs duties paid before the dollars move starting this morning. Each of those was Baghdad making its books believable to people who do not live there. On Tuesday an outside market [The Abu Dhabi Securities Exchange] with a trillion-dollar network gave its answer – Iraqi trades settled in IQD.
Jeff Iraq can’t tell you they’re about to revalue the currency. There’s only so much information they can tell you without giving you clues the rate is about to change. Some stuff they can legitimately tell you and some things they cannot tell you…some truthful information and some inaccurate misleading information…
Frank26 The float has nothing to do with what’s happening inside of [Iraq’s] borders. The float is outside. It is in an international currency basket…Citizens will never see that value…[Citizens] will only see the value inside of your borders which will probably be around $1, maybe even up to $1.30…When they lift the three zeros, citizens inside of Iraq will receive purchasing power…Why are they talking about the float now? …Because they are done teaching [the Iraqis] everything they need to know about the monetary reform procedure inside the borders…Now it’s time for…the Iraqi citizens to learn what is going to happen outside the borders concerning the currency…It will gain value and strength…The fact that they are talking about this is overwhelmingly exciting…The CBI is asking you to listen to them and no one else…The CBI made a confession…
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Are Bonds Near Triggering A 1987-Style Stock Exodus? | Ted Oakley
David Lin: 10-2-2026
Ted Oakley, founder of Oxbow Advisors, discusses weakening jobs and housing, deteriorating stock-market breadth, rising Treasury yields, energy and hard assets, gold, and why he sees growing economic and consumer risks heading into 2027.
