Parliamentary Finance Committee: Washington Controls Iraqi Financial Transfers And Hinders Economic Independence
October 12, 18:33 Information/Baghdad.. Parliamentary Finance Committee member Moeen Al-Kadhimi
confirmed on Sunday that the United States imposes direct control over financial transfers in Iraq, restricting the country’s ability to conduct banking transactions freely and independently.
He noted that Washington is exploiting this issue to serve its political and economic interests. Al-Kadhimi told Al-Maalouma News Agency, “The United States continues to exert pressure on the Central Bank of Iraq through the SWIFT financial transfer system, preventing Iraq from freely dealing with a number of countries and negatively impacting the national economy.”
He added, “Washington is exploiting this system as a tool for political pressure, controlling access to funds in a number of sectors, and imposing restrictions on foreign transfers, particularly those related to trade and imports.”
Al-Kadhimi stated that “Iraq does not yet enjoy full financial sovereignty due to these interventions that serve American interests without taking into account the needs of the Iraqi market or the country’s economic security requirements.” https://almaalomah.me/news/112665/economy/حركة-حقوق:-تنويع-الاقتصاد-أولوية-في-المرحلة-المقبلة
Advantages Of Domestic Debt
Economic 10/12/2025 Mohammed Sharif Abu Maysam The most important characteristic of domestic debt owed by the state is that it is not accompanied by conditions and obligations from the creditor parties, unlike external debt, which is often coupled with a package of conditions and obligations imposed by creditors as they attempt to transfer the economies of debtor countries to be subordinate to the institutions of economic globalization.
These conditions guarantee the transition of the economic system in that country to a form of liberal economic system, in which the authority of foreign capital replaces the authority of the traditional state through the privatization of state functions.
This advantage is sufficient to motivate the state, when it needs financing in a deficit situation, to resort to domestic debt, as it is debt from local financing sources, guaranteed by treasury bonds or transfers.
Furthermore, this debt is denominated in local currency and does not pose a risk to exchange rates due to increased demand for foreign currencies, as is the case when repaying external debt.
This is another advantage of domestic debt over external debt, as it is repaid when due in local currency.
In recent years, after Iraq was able to pay off its debts to the International Monetary Fund,
it has been observed that the financial deficit is being financed through the issuance of treasury bonds and their transfers.
This is credited to those in charge of fiscal and monetary policy, not only to spare the country the problems of international conditions and obligations and the accumulation of interest rates on these debts, but also because the adoption of domestic debt contributes, in one way or another, to stimulating the accumulated cash mass to invest in the issued bonds, which are based on which high and guaranteed interest rates are granted in light of the decline in foreign exchange rates against the local currency, which the markets have witnessed in recent months.
This has had a positive impact on market activity and has indirectly contributed to controlling inflation indicators.
What is being said about the rise in domestic debt until the end of last March to about 85 trillion and 536 billion dinars, in light of the continuation of construction and reconstruction operations in all governorates, and the rise in market activity rates, does not represent a negative situation in light of the expansion in investment spending, if the operating budget allocations are secured as governing allocations.
In any case, the government’s spending direction, according to what has been announced, is not limited to current expenditures only, but rather targets the investment aspect, which contributes to diversifying revenues that support, in one way or another, the financing of the public treasury.
Just as highlighting the negatives is the duty of the economic observer, it is also the duty to highlight what is positive, and put an end to the fallacies that some employ with the aim of creating noise. https://alsabaah.iq/121931-.html
The Etiquette Course Concludes At The Center For Banking Studies.
October 10, 2025 The Center for Banking Studies at the Central Bank of Iraq concluded the course entitled (The Art of Etiquette in Banking) for the period from 10/5-7/2025.
This comes within the framework of the efforts of the Center for Banking Studies to develop the skills of banking cadres in all Iraqi governorates. 43 trainees participated in the course, which targeted all employees who deal directly and indirectly with customers, customer service employees, sales and marketing employees, and administrative support teams.
The course covered the fundamentals and rules of professional etiquette in the banking environment, improving verbal and physical communication skills with clients and colleagues, and handling difficult situations and complaints professionally, reinforcing positive behaviors that enhance the quality of banking services. https://cbi.iq/news/view/3009
The Etiquette Course Concludes At The Center For Banking Studies.
October 10, 2025 The Center for Banking Studies at the Central Bank of Iraq concluded the course entitled (The Art of Etiquette in Banking) for the period from 10/5-7/2025.
This comes within the framework of the efforts of the Center for Banking Studies to develop the skills of banking cadres in all Iraqi governorates. 43 trainees participated in the course, which targeted all employees who deal directly and indirectly with customers, customer service employees, sales and marketing employees, and administrative support teams.
The course covered the fundamentals and rules of professional etiquette in the banking environment, improving verbal and physical communication skills with clients and colleagues, and handling difficult situations and complaints professionally, reinforcing positive behaviors that enhance the quality of banking services. https://cbi.iq/news/view/3009
Economic Belt Along The Development Path
Economic 10/13/2025 Baghdad: Morning The Iraqi Ports Company confirmed, on Sunday, the identification of sectors targeted for investment in the development pipeline. While categorizing investment opportunities in the development pipeline into three phases, it indicated that there is an economic belt extending from Al-Faw to Türkiye.
The company’s director, Farhan Al-Fartousi, said in a statement to the Iraqi News Agency (INA):
“Oliver Wyman has reached advanced stages of formulating the general policy for implementing the development road project,” noting that “the most important thing this company has achieved is identifying the sectors that will be targeted for investment, as it is an economic project and not just a road project.”
He added, “There will be an economic belt along this road from Al-Faw to Turkey. Consequently, we have reached a comprehensive vision for investment opportunities.
These investment opportunities have been classified as 1, 2, and 3 according to their readiness for investment, given that expansions will occur on both sides of the road, whether economic or residential expansions towards the road and railway.”
Al-Fartousi explained that “the opportunities were classified according to raw materials because Iraq is rich in a number of raw materials that make it one of the world’s leading manufacturing countries, especially fertilizers.
Iraq is ranked second in the world in strategic phosphate reserves, and so are the remaining energy projects, fiber optic cable transmission projects, and other projects.” https://alsabaah.iq/121994-.html
SOMO: The Agreement With Exxonmobil Strengthens Iraq’s Marketing Position In The Oil Sector.
Yesterday, 18:59 Baghdad – INA he State Oil Marketing Organization (SOMO) confirmed on Sunday that the recently concluded agreement on principles with ExxonMobil improves export capabilities and strengthens Iraq’s marketing position in the oil sector.
The company’s general manager, Ali Nizar Al-Shatri, told the Iraqi News Agency (INA), “The agreement of principles with ExxonMobil is an important strategic step for the Iraqi oil industry and the marketing sector alike.”
He added, “ExxonMobil is the world’s leading oil, gas, and refining company.
It is an integrated company that possesses the latest technology and offers competitive prices, enabling it to contribute to the marketing of Iraqi crude oil in various markets.” He added,
“The company has offered to enter into refinery and storage projects in several regions around the world, particularly in Asia, which would strengthen Iraq’s marketing position and support the economic integration provided by the agreement.”
Al-Shatri pointed out that “Iraq has long needed such agreements with integrated global companies that possess the expertise and technology,” explaining that
“Iraq not only needs to develop oil production, but also to improve its export capabilities by building integrated systems for storage tanks and export pipelines, which will keep pace with the development of fields such as the Majnoon field, which an agreement has been reached with ExxonMobil to develop.”
Last Wednesday, Prime Minister Mohammed Shia al-Sudani sponsored the signing ceremony of the HOA (Honorary Agreement of Principles) between the Ministry of Oil and the American company Exxon Mobil.
The Prime Minister’s Media Office stated in a statement received by the Iraqi News Agency (INA),
“The agreement is an important step for the future of the oil sector in Iraq and the development of economic relations with the United States of America,” stressing that “the doors are open to all major international companies to contribute to the development of the oil sector.”
The Prime Minister noted the government’s “interest in cooperating with major oil companies, particularly American ones, to operate in important oil fields, including the Majnoon field in Basra, and its commitment to attracting and developing investments in the energy sector, particularly in gas investment.”
He stressed “the importance of ExxonMobil‘s contribution to modernizing Iraq‘s oil export infrastructure, diversifying export sources, and utilizing the latest technologies in the oil industry to advance the oil sector and increase production.”
In turn, the company’s Vice President, Peter Larden, expressed his “thanks to the Prime Minister for the government’s steps to strengthen bilateral cooperation, and congratulated him on the occasion of Iraq’s National Day,” praising “the remarkable development and progress the country is witnessing across various sectors and fields.” https://ina.iq/ar/economie/245537-.html
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