Economic Advisor: Iraq Is Moving Forward With Banking Reform, And The Return Of Dollar Transactions Is Imminent.
October 16, 2025 Baghdad / Iraq Observer The Prime Minister’s financial advisor, Mazhar Mohammed Salih, affirmed on Thursday that Iraq‘s commitment to international standards paves the way for the return of dollar transactions, attracting foreign investment, and expanding financial inclusion.
He emphasized that the path of banking reform is ongoing and irreversible.
Saleh said, “Iraq‘s commitment to international standards and banking transparency means the Iraqi financial system has entered a phase of radical reform, which will enhance international confidence and qualify it to be an active player in the global economy.”
He noted that “the most significant gains are not limited to the return of dollar transactions to national banks, but also include attracting investment and expanding financial inclusion.”
He explained that “adherence to international standards requires that banking institutions adhere to anti-money laundering and counter-terrorism financing rules, implement transparent accounting and oversight systems, and digitally transform the banking infrastructure, including electronic payment systems and unified financial reporting.”
He continued, “This also includes opening up to sound international financial services, by contracting with global companies to develop banking systems, particularly financial auditing and fintech companies,” adding, “This commitment places Iraq on the map of the global financial system and gives it the opportunity to integrate with international correspondent banks.”
He added, “The gains that will benefit Iraq will also lead to the restoration of dollar transactions with international banks, after some Iraqi banks were deprived of them due to poor compliance issues.
They will also attract foreign investment, as investors seek a transparent and secure financial environment.
They will also enhance financial inclusion by integrating broad segments of citizens into the banking system through digital services. They will also improve Iraq‘s credit rating, which will positively impact its ability to obtain international financing on better terms.”
He pointed out that “enhancing confidence in the Iraqi banking system is achieved through the confidence of international banks that will deal with the modernized banking system, which is compatible with international standards, which opens the door for Iraq to deal with correspondent banks in Europe and America.
The Iraqi citizen’s confidence in the modernized banks is also increasing, and he begins to feel safe dealing with them, especially with the development of electronic services and the reduction of risks, in addition to the confidence of international companies contracting with Iraq, which are looking for a transparent financial environment that guarantees the integrity of transfers and contracts.”
He pointed out that “the level of progress in the field of banking reform, sponsored by Prime Minister Mohammed Shia al-Sudani within the government’s program and its implementation, and in cooperation with the Central Bank of Iraq, came in accordance with the 2025 Banking Reform Document.”
He added, “The Central Bank of Iraq is leading a comprehensive shift toward reform, including increasing capital in consultation with the banking system and implementing comprehensive governance.” He explained that
“the development of modern digital systems is no longer an option, but a necessity, and has already begun in some leading banks, despite ongoing challenges, such as historically weak trust and varying levels of preparedness among banks.” He emphasized that “the reform path is clear and irreversible.” https://observeriraq.net/مستشار-اقتصادي-العراق-ماضٍ-في-الإصلاح/
Conclusion Of A Specialized Training Course On The Work Of Exchange And Financial Mediation Companies
October 16, 2025 The Central Bank of Iraq’s Center for Banking Studies concluded today a specialized training course titled “The Operation of Exchange Companies and Financial Intermediation.”
The course ran from October 12 to 16, 2025, with the participation of a number of employees in the banking sector and accredited exchange companies.
The course aimed to enhance participants’ professional knowledge of the working mechanisms of exchange and financial intermediary companies, raise their level of proficiency in the technical and legal aspects related to managing financial operations, and develop their skills in compliance and adherence to the regulatory standards issued by the Central Bank of Iraq.
The course included detailed topics covering the legislative and regulatory framework for exchange companies, anti-money laundering and counter-terrorism financing procedures, and sound accounting and administrative practices in managing capital and customer accounts.
This course is part of the Center for Banking Studies‘ annual training program, which aims to build human capacity in financial and banking institutions, contributing to supporting the stability of the financial system and developing the professional performance of banking sector employees. https://cbi.iq/news/view/3014
Conclusion Of A Training Course On Financing Small Projects
October 16, 2025 The Banking Studies Center at the Central Bank of Iraq concluded today a specialized training course entitled”Financing Small Projects (Methods and Arithmetic Treatment)”, which was held from October 14 to 16, 2025, with the participation of a number of employees from banks and financial institutions.
The course aimed to enhance participants’ understanding of the concepts and importance of small business financing and its vital role in supporting the national economy, as it is one of the fundamental pillars of achieving sustainable development and providing job opportunities.
The training program covered several topics, including the tools and methods used in designing microfinance programs, the accounting requirements for small business financing operations, an analysis of the financial and social impact of these projects on banks and clients, and the development of skills in preparing periodic reports to monitor the performance of microfinance portfolios.
This course is part of the Center for Banking Studies‘ annual training program, which aims to enhance the efficiency of employees in the Iraqi banking sector and provide them with practical knowledge that will contribute to expanding the scope of small and microfinance, in line with the Central Bank of Iraq’s efforts to support financial inclusion and stimulate the national economy. https://cbi.iq/news/view/3015
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