The Central Bank Of Iraq Obtains The International Business Continuity Certificate (ISO 22301:2019)
October 30, 2025 Under the patronage of His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Allaq, the Central Bank organized a celebration on the occasion of the Total Quality Management Department obtaining the ISO 22301:2019 international conformity certificate for the Business Continuity Management System, issued by the International Organization for standardization (ISO), after the actual application of the system requirements in the Bank’s Investment Department.
The ceremony was attended by Deputy Governor Dr. Ammar Hamad Khalaf, Professor Yaqoub Yousef, Head of the National Quality Team, the Director of Quality at the General Secretariat of the Council of Ministers, Dr. Areej Saeed, Head of the Department of Business Administration Technologies at the University of Baghdad, and Mr. Ammar Hussein, Director of the Total Quality Management Department.
During the ceremony, the international conformity certificate was handed over to the Total Quality Management Department, and the team was honored with a commemorative shield from His Excellency the Governor, in appreciation of their outstanding efforts in establishing a culture of institutional quality and achieving this qualitative accomplishment.
The implementation of the business continuity system comes within the framework of the Central Bank of Iraq’s strategic plan for the years 2024-2026, as one of the main pillars in enhancing institutional readiness and ensuring the continuity of vital operations and financial services in various circumstances, which enhances confidence in the bank’s ability to perform its tasks with high efficiency and flexibility. Central Bank of Iraq Media Office https://cbi.iq/news/view/3035
Central Bank: Banking Sector Reform In Iraq Has Entered Advanced Stages
Baghdad – WAA – Hassan Al-Fawaz Central Bank Governor Ali Al-Alaq confirmed on Friday that there is a broad response from most banks to join the banking reform plan, and he set a date for its final implementation, noting that the reform process has entered advanced stages.
Al-Alaq told the Iraqi News Agency (INA): “The Central Bank is now working intensively on two plans: the first to reform the government banking sector, and the second to reform private banks, in cooperation with an international company.”
He added, “The two plans have made very significant progress, and we are now in advanced stages of this work.
We expect to proceed with steady steps within the plan, which will lead to the achievement of a stable banking sector, capable of communicating with the outside world and of making a qualitative contribution to the national economy.
It will also be able to keep pace with global transformations, especially digital ones, and respond to the requirements of various economic aspects, in harmony with general trends and major transformations.”
He pointed out that “the banking sector reforms today are not superficial or patchwork measures, but rather fundamental processes related to rebuilding the banking sector,” indicating that “banks are now facing a historic decision,” noting that “the reform plan has faced mixed reactions, but the Central Bank has been clear in its position on reform.”
Al-Alaq stressed that “a meeting was held with all banks, and we explained that this plan is not an option, but rather a path linked to local and international legal, regulatory, financial and digital requirements that cannot be ignored, and there is a strong determination to implement it.”
He continued, “We have entered into a series of dialogues and discussions with the banks and listened to the different viewpoints,” noting that “there is a very high rate of response from most banks to enter into the reform plan and they have given a commitment to that,” explaining, “We are about to start a new phase to follow up on the implementation of the reform steps.”
Al-Alaq indicated in his speech that “within five years or sooner, we will witness a different banking sector in Iraq.” https://ina.iq/ar/economie/246887-.html
US Envoy To Iraq: Foreign And Iranian Interference Is A Threat To Sovereignty
October 31, 2025 US envoy Mark Savaya tweeted on the X platform: Over the past three years, Iraq’s leadership has taken significant steps to steer the country in the right direction, both politically and economically. Iraq has begun to regain its sovereignty, working to reduce external influence, consolidate weapons under the control of the legitimate government, and open its markets to international companies to help rebuild the country and develop its fragile infrastructure. However, the work is not yet complete, and Iraq still needs ongoing support to remain on this path.
The United States government has made it clear that there is no place for armed groups operating outside the authority of the state. Iraq’s stability and prosperity depend on unifying its security forces under a single government and a single commander-in-chief of the armed forces, and under a single flag representing all Iraqis. Without this unity, Iraq’s sovereignty and progress remain at risk.
The interests of the Iraqi people and the wider region depend on a fully sovereign Iraq, free from malicious foreign interference, including from Iran and its proxies, and dedicated to serving its citizens and living in peace with its neighbors. In this context, unity and cooperation between federal and regional authorities are essential to ensure lasting security, economic growth, and national cohesion.
Iraq is a pivotal country in the region, and it must play its natural role in supporting regional peace, security, and stability. We cannot regress to the past or adopt methods that hinder progress and unity.
My mission, on behalf of President Trump, is to engage with Iraq and support its ongoing pursuit of stability, sovereignty, and prosperity.
Iraq remains of great importance to the region and to the United States. It will remain one of America’s strongest and most valued partners, and I am committed to further strengthening this relationship as I assume this honorable role as envoy. Let’s make Iraq great again LINK
The Central Bank Confirms A Rapid Response From Banks To Join The Banking Reform Plan.
Banks Central Bank Governor Ali Al-Alaq confirmed on Friday that there is a broad response from most banks to join the banking reform plan, and he set a date for its final implementation, noting that the reform process has entered advanced stages.
Al-Alaq said: “The Central Bank is now working intensively on two plans: the first to reform the government banking sector, and the second to reform private banks, in cooperation with an international company.”
He added, “The two plans have made very significant progress, and we are now in advanced stages of this work. We expect to proceed with steady steps within the plan, which will lead to the achievement of a stable banking sector, capable of communicating with the outside world and of making a qualitative contribution to the national economy.
It will also be able to keep pace with global transformations, especially digital ones, and respond to the requirements of various economic aspects, in harmony with general trends and major transformations.”
He pointed out that “the banking sector reforms today are not superficial or patchwork measures, but rather fundamental processes related to rebuilding the banking sector,” indicating that “banks are now facing a historic decision,” noting that “the reform plan has faced mixed reactions, but the Central Bank has been clear in its position on reform.”
Al-Alaq stressed that “a meeting was held with all banks, and we explained that this plan is not an option, but rather a path linked to local and international legal, regulatory, financial and digital requirements that cannot be ignored, and there is a strong determination to implement it.”
He continued, “We have entered into a series of dialogues and discussions with the banks and listened to the different viewpoints,” noting that “there is a very high rate of response from most banks to enter into the reform plan and they have given a commitment to that,” explaining, “We are about to start a new phase to follow up on the implementation of the reform steps.”
Al-Alaq indicated in his speech that “within five years or sooner, we will witness a different banking sector in Iraq.”
144 views Added 2025/10/31 – 5:52 PM https://economy-news.net/content.php?id=61796
Economic Expert: Iraq Possesses Derivatives Capable Of Significantly Boosting The Budget.
Economy | 31/10/2025 Mawazin News – Baghdad: Economic researcher Diaa Abdul Karim found that Iraq’s existing oil derivatives are capable of generating substantial revenue for the national budget, potentially exceeding oil export revenues.
Abdul Karim stated, “Many projects in the oil sector have achieved self-sufficiency in derivatives, particularly regular and premium gasoline. This opens the door for exporting these derivatives.”
He added, “The prices of these derivatives exceed the price of a barrel of oil, and it is possible to achieve significant revenues, surpassing oil revenues, by exporting various types of derivatives such as gasoline, diesel, naphtha, and different types of gas.
” He explained that “Iraq’s oil reserves necessitate the government’s focus on opening more refineries in various governorates to ensure refining operations and achieve self-sufficiency without the need to transport derivatives from one governorate to another. Exporting the surplus would then bolster the budget with revenues exceeding those generated from oil exports.” https://www.mawazin.net/Details.aspx?jimare=269425
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