Dollar Prices On The Baghdad And Erbil Stock Exchanges At The Close
Stock Exchange The US dollar exchange rate rose against the Iraqi dinar on Saturday evening in Baghdad and Erbil as the stock exchange closed.
Baghdad: Selling price: 143,500 dinars for $100. Buying price: 141,500 dinars for $100.
Erbil: Selling price: 142,200 dinars for $100. Buying price: 142,100 dinars for $100.https://economy-news.net/content.php?id=59422
Gold Prices Rise Again In Baghdad
Economy | 08/30/2025 Mawazine News – Baghdad – The prices of foreign and Iraqi gold recorded a significant increase on Saturday in the local markets of the capital, Baghdad.
The selling price of one mithqal of 21-karat Gulf, Turkish and European gold in the wholesale markets on Al-Nahr Street was 700,000 dinars, while the purchase price reached 696,000 dinars. This increase comes compared to last Thursday’s prices, when the selling price was 686,000 dinars.
The selling price of one mithqal of 21-karat Iraqi gold reached 670,000 dinars, while the purchase price reached 666,000 dinars. https://www.mawazin.net/Details.aspx?jimare=265953
Iraqi Oil Prices Rise In Global Markets
Economy | 10:55 – 08/30/2025 Mawazine News – Baghdad Iraqi oil prices rose on Saturday during daily trading in the global market.
According to data reviewed by Mawazine News, Basra Medium crude rose to $70.11 per barrel, while Basra Heavy crude reached $66.91 per barrel, with a change rate of +0.94% for both.
Regarding global oil prices, British Brent crude recorded $68.12 per barrel, while US West Texas Intermediate crude recorded $64.01 per barrel, with changes rates of -0.59% and -0.50%, respectively. https://www.mawazin.net/Details.aspx?jimare=265947
The Central Bank Of Iraq Issues Instructions And Regulations To Regulate The Electronic Payment Process In Three Aspects.
Banks Economy News – Baghdad Central Bank Governor Ali Al-Alaq announced on Saturday the issuance of instructions and regulations to regulate electronic payments across three aspects. While revealing a mechanism for developing the electronic payment process, he also affirmed that all state institutions are required to use electronic payments, not cash.
Al-Alaq told the official news agency, as received by Al-Eqtisad News, that “electronic payment is witnessing significant development. It is a gateway to the digital transformation towards a digital economy, a larger issue related to economic structure and global interaction, to achieve greater financial inclusion. All of these aspects have become established and advanced strategies.”
He pointed out that “the Central Bank, along with the government, the private sector, electronic payment companies, and technology companies, are all engaged in this massive and ongoing effort. We have regulatory and legislative technical initiatives and directions being worked on in coordination between the Central Bank of Iraq and the Iraqi government.”
He added, “There is cooperation and coordination with the government through the decision issued by the Council of Ministers requiring all state institutions to use electronic payments instead of cash.
There is also the localization of salaries, which amounts to millions, in addition to public awareness being conducted through electronic payment companies and civil society organizations. There is growing community awareness.”
He explained that “progress in electronic payments requires infrastructure, a legislative framework, and community awareness. These are three aspects that are being worked on diligently.
Much of the infrastructure at the Central Bank level has been completed in an advanced manner, fully in line with international practices and legislative frameworks. We have issued numerous instructions and regulations that regulate the process, but we need more in the third aspect, which is community and cultural awareness.” https://economy-news.net/content.php?id=59401
Tax Reform Committee: Recording A 20% Revenue Growth
Local The Supreme Committee for Tax Reform confirmed on Saturday that private sector companies’ voluntary disclosure activity increased by more than 40%, while revealing a 20% growth in revenues. It noted that cooperation with international institutions contributed to the implementation of tax reform within several parameters.
Khalid Al Jabri, a member of the Supreme Committee for Tax Reform, said: “The Tax Reform Conference for Economic Development and Investment Stimulation, held last week, reflects a broad package of reform measures implemented over the past months.”
He noted that “the conference includes a presentation of digital repercussions, including the growth in tax revenues last year compared to the previous year by more than 20%, with growth this year expected to reach between 30 and 35%.”
He added, “These repercussions have contributed to revitalizing the commercial registry, through a number of private sector companies’ willingness to voluntarily file a declaration. Activity in this area has increased by more than 40%, indicating the presence of an economic movement that has begun to enhance confidence between the General Tax Authority and taxpayers.”
He noted that “this confidence has begun to crystallize through the facilitation of business facilitation procedures, which has led to a gradual growth in economic activity.”
Al-Jaberi explained that “there is cooperation with international institutions, such as the Center for Tax and Investment in Washington, which has helped the Higher Committee address many of the constraints facing tax reform, in addition to harmonizing Iraqi standards with international standards, with the aim of strengthening the economic environment in Iraq and attracting foreign companies to invest in the country.” https://economy-news.net/content.php?id=59429
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