The Central Bank Discusses The Digital Dinar Project: Under Implementation
Baratha News Agency199 2025-12-02 The Central Bank of Iraq revealed on Tuesday assurances regarding the banking reform plan in the country, while confirming that the digital dinar project is underway.
A statement from the bank said, “During a session attended by a select group of experts and specialists, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, presented a comprehensive overview of the course of banking reforms and upcoming structural plans,” stressing that rebuilding the banking sector represents the main pillar of the bank’s work at the present stage.
He explained that “the contract with Oliver Wyman (O&W) came after the ban on dealing in dollars imposed on a number of Iraqi banks, with the aim of implementing deep and comprehensive reforms that ensure the banking institutions’ compliance with international standards,” revealing that “there are assurances regarding the return of those banks to the normal environment after the completion of the required reform stages.”
The governor explained that “all Iraqi banks have signed the reform document,” stressing that compliant banks will be granted the ability to deal in other currencies in gradual steps, noting that international bodies are closely monitoring the progress of work on the banking reform file.
Regarding digital transformation, he confirmed that the digital dinar project is underway, but it requires time and integrated infrastructure to ensure its optimal launch.
The Central Bank Governor reiterated his commitment to maintaining overall price stability by keeping inflation at low levels through the stability of the official exchange rate, which is a major success for monetary policy. He pointed out that reducing the dinar’s exchange rate has negative repercussions on this stability, harms broad segments of citizens with limited income, and weakens confidence in the national currency.
He stressed the need to avoid using the exchange rate as a tool to address the structural deficit, which requires structural reforms aimed at maximizing local revenues with their vast and lost opportunities, controlling expenditures, diversifying the economy, and supporting the government’s directions in this regard, according to the bank’s statement.https://burathanews.com/arabic/economic/468480
The Iraqi Stock Market Traded Shares Worth 8 Billion Dinars In One Week.
Stock Exchange Economy News – Baghdad The Iraq Stock Exchange announced on Tuesday that shares worth more than 8 billion dinars were traded during the past week.
The market said in a report seen by Al-Eqtisad News that “the number of companies whose shares were traded during the past week reached 64 joint-stock companies, while the shares of 30 companies were not traded due to the lack of matching purchase orders with sell orders, while 10 companies continue to be suspended for not providing disclosure out of 104 companies listed on the market.”
He added that “the number of shares traded amounted to 13 billion, 746 million and 87 thousand shares, a decrease of 54% compared to the previous week, with a financial value of 8 billion, 751 million and 644 thousand dinars, an increase of 0.49% compared to the previous week, through the execution of 4685 transactions,” noting that “the ISX60 index of traded prices closed at 952.03 points, recording a decrease of 1.34% compared to its closing in the previous session.”
He noted that “the number of shares purchased by non-Iraqi investors last week amounted to 112 million shares with a financial value of 220 million dinars through the execution of 64 transactions, while the number of shares sold by non-Iraqi investors amounted to 76 million shares with a financial value of 161 million dinars through the execution of 89 transactions.”
It is worth noting that the Iraq Stock Exchange holds five trading sessions weekly from Sunday to Thursday, and lists 104 Iraqi joint-stock companies representing the banking, communications, industry, agriculture, insurance, financial investment, tourism, hotels and services sectors. https://economy-news.net/content.php?id=62979
Basra Crude Oil Prices Rise As Global Oil Prices Climb.
Economy | 02/12/2025 Mawazin News – Baghdad: Basra crude oil prices, both heavy and medium, rose in line with the increase in global oil prices.
Basra Heavy crude rose 43 cents, or 0.73%, to $60.77, while Basra Medium crude rose 43 cents, or 0.69%, to $62.52.
Oil prices rose in early trading for the second consecutive session as market participants assessed the risks stemming from Ukrainian drone attacks on Russian energy facilities, as well as escalating tensions between the United States and Venezuela. https://www.mawazin.net/Details.aspx?jimare=271057
Gold Prices Stable In Baghdad
Economy | 02/12/2025 Mawazin News – Baghdad: Gold prices, both foreign and Iraqi, remained stable in Baghdad’s local markets.
In the wholesale markets on Al-Nahr Street, the selling price of one mithqal (approximately 4.5 grams) of 21-karat gold from the Gulf, Turkey, and Europe was 850,000 Iraqi dinars, while the buying price was 846,000 dinars – the same prices as yesterday. The selling price of one mithqal of 21-karat Iraqi gold was 820,000 dinars, and the buying price was 816,000 dinars.
In jewelry shops, the selling price of one mithqal of 21-karat Gulf gold ranged between 850,000 and 860,000 dinars, while the price of one mithqal of Iraqi gold ranged between 820,000 and 830,000 dinars.
https://www.mawazin.net/Details.aspx?jimare=271072
Gold Prices Stable In Baghdad
Economy | 02/12/2025 Mawazin News – Baghdad: Gold prices, both foreign and Iraqi, remained stable in Baghdad’s local markets. In the wholesale markets on Al-Nahr Street, the selling price of one mithqal (approximately 4.5 grams) of 21-karat gold from the Gulf, Turkey, and Europe was 850,000 Iraqi dinars, while the buying price was 846,000 dinars – the same prices as yesterday.
The selling price of one mithqal of 21-karat Iraqi gold was 820,000 dinars, and the buying price was 816,000 dinars.
In jewelry shops, the selling price of one mithqal of 21-karat Gulf gold ranged between 850,000 and 860,000 dinars, while the price of one mithqal of Iraqi gold ranged between 820,000 and 830,000 dinars.
https://www.mawazin.net/Details.aspx?jimare=271072
The United Nations Praises The Honorable End Of Its Mission In Iraq.
December 2, 2025 United Nations (AFP) – Baghdad – Al-Zaman The head of the United Nations Assistance Mission for Iraq (UNAMI), which will leave the country at the end of December after a mission that lasted more than 20 years, praised on Tuesday a “new chapter” for an Iraq that “owns its own destiny.”
At Baghdad’s request, the UN Security Council decided in May 2024 to extend the mandate of the mission that has been in the country since 2003, following the US-British military intervention and the fall of Saddam Hussein, for a final period until December 31, 2025.
“The beginning of this new year opens a new chapter in the long and established partnership between Iraq and the United Nations,” said the head of the mission, Mohammed Al-Hassan, at the last Security Council meeting devoted to this issue. “The departure of UNAMI is not the end of this partnership between Iraq and the United Nations, but on the contrary, it represents the beginning of a new chapter based on an Iraq that has its own decision in its hands.”
He added, “Today is a great day for the international community, as it witnesses the honorable and dignified closure of a United Nations mission.”
Al-Hassan opened his final briefing to the Council in his current role by reflecting on the mission’s beginnings, saying, “Let us recall 2003, when this Council established the United Nations Assistance Mission for Iraq (UNAMI) in a country suffering the effects of decades of dictatorship, regional wars, internal conflicts, foreign occupation, and the terrorism of ISIS. The road to peace, security, and stability was long and arduous.”
He added, “Nevertheless, thanks to the support of the international community, Iraq emerged victorious, but at a heavy price.” He acknowledged all those who “lost their lives since the mission began its work in Iraq.
This includes the 22 United Nations staff members who lost their lives in the 2003 bombing of the Canal Hotel, including the Special Representative of the Secretary-General for Iraq, Sergio Vieira de Mello, and those who survived this terrorist act, but with indelible scars.”
He concluded, “The road to peace, security, and stability was long and arduous.” But with the support of the international community, Iraq emerged victorious,” he said, congratulating the country on holding legislative elections in November that were “among the freest, most organized and credible ever in Iraq.”
He continued, “With my confidence in Iraq’s ability to build on these solid electoral foundations, I sincerely hope that a new government will be formed without delay,” noting that despite these efforts, the humanitarian needs of the population remain immense.
He called on Iraqi leaders to “strive to build bridges of trust and friendship, promote shared interests with all neighboring countries, and restore the glory of Iraq, the cradle of civilization.”
On Sunday evening, the Iraqi government office issued a statement announcing that Mohammed Shia al-Sudani had received the US envoy to Syria, Tom Barak, and that they had discussed a number of issues. According to the statement, published by the official Iraqi News Agency (INA), al-Sudani “discussed with Barak practical ways in which Iraq can continue to support Syria’s stability, security, prosperity, and economic recovery, which would simultaneously enhance Iraq’s own stability and prosperity.
” The statement also mentioned “mutual views on preventing any further escalation in the region, supporting the diplomatic track for resolving disputes, and setting the region on a path of cooperation, economic growth, and long-term stability.” The statement quoted Barak as affirming “the constructive and essential role that Iraq can play in achieving these shared goals.”
A Western diplomat in Washington revealed to an American website details of the meeting between Tom Barrack and Mohammed Shia al-Sudani.
They discussed the situation in Syria and ways to avoid escalation in the region, according to an Iraqi government statement.
Meanwhile, the diplomat in Washington told the website that Barak informed the Iraqi leadership that Israel plans to continue its operations “until Hezbollah is disarmed,” and that if pro-Iranian factions, such as Kataib Hezbollah, participate in the fighting, Israel will strike them without any American intervention.
The diplomat said: “Barak asked Baghdad to control the factions and cut off any support that could help Hezbollah in Lebanon. Neutrality is not a request…it is a condition.”
The diplomat, who met with Iraqi officials in Washington, told Joe Khouli of MBN that Barak told Sudani, “We fear that an Israeli operation against Hezbollah in Lebanon is imminent, and that Iraq will face the consequences if its militias intervene.”
The source said that “Barak is trying to avoid a three-front problem: Lebanon, Gaza, and Iraq.”
Barak’s visit prioritized deterrence over traditional diplomacy. “This wasn’t negotiation,” the diplomat said. “It was a warning.” The message was stark: if Iraqi militias intervene, Iraq itself could become a battleground. He added, “ Israel is sending public signals that it may strike inside Iraqi territory.” LINK
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