An Economist Reveals The Secret Behind The Withdrawal Of Deposits From Iraqi Banks.
Time: 12/13/2025 16:21:33 Readings: 405 times {Economic: Al-Furat News} An economic expert, Salah Nouri, revealed the main reasons behind the decline in deposits in Iraqi banks, attributing this to global economic developments and interest rate policies that directly affected the behavior of depositors within Iraq.
Nouri told Al-Furat News Agency that: “The US Federal Reserve’s resort to lowering interest rates during periods of economic recession leads to a decrease in returns on bank deposits, which prompts individuals and companies to withdraw their money and look for investment alternatives that achieve better returns.”
He added, “The decrease in interest rates is not in the interest of the groups that have bank deposits, as a large part of the liquidity is directed towards buying gold as a safe haven, which leads to an increase in its prices as a result of increased demand, in addition to the trend towards investing in securities markets such as stocks and bonds.”
The expert explained that “Iraq is affected by these changes due to its connection to the global economy,” noting that “the Central Bank of Iraq adopts a monetary policy based on diversifying investments, which includes holding US debt bonds, buying gold, and investing in the Euro, with the aim of reducing risks and enhancing financial stability.”
He stressed that “the decline in deposits does not necessarily reflect weakness in the banking sector, but rather expresses a change in the orientations of investors and depositors as a result of global economic conditions and monetary policies.” LINK
Prime Minister: Iraq Is Moving Steadily And Strongly Towards Development And Economic Revival
Saturday, December 13, 2025 | Politics Number of views: 197 Baghdad/ NINA /Prime Minister Mohammed Shia al-Sudani affirmed on Saturday that Iraq is moving steadily and strongly towards development and economic revival, noting that the UNAMI mission contributed to consolidating constitutional processes in Iraq.
In a speech at the official ceremony marking the end of the mandate of the United Nations Assistance Mission for Iraq (UNAMI), in the presence of UN Secretary-General António Guterres, the Prime Minister stated that “UNAMI was a vital partner for Iraq,” explaining that “UNAMI was a helping hand extended to support Iraq.”
He added that “Iraq has established a political system based on the principles of democracy,” clarifying that “UNAMI contributed to consolidating constitutional processes in Iraq.”
The Prime Minister continued, “We have witnessed tangible progress in the areas of security and institutional reform,” pointing out that “our government has witnessed unprecedented diplomatic openness.”
He indicated that “our relationship with UNAMI will remain steadfast,” explaining that “Iraq is moving steadily and strongly towards development and economic revival.”
The Prime Minister expressed his gratitude to the religious authorities, political forces, and social elites who contributed to building the Iraqi experience. /End https://ninanews.com/Website/News/Details?Key=1266640
“A Quantum Leap”… Al-Ahli Bank Of Iraq Signs Its Largest Digital Expansion Deal To Launch More Innovative Banking Services
Banks Economy News – Baghdad The National Bank of Iraq praised the investment developments taking place in Iraq, stressing that this is a strategic step that enhances the digital transformation in the country, while noting that the development of banking services is in line with the highest international standards.
The bank said in a statement, “The bank has approved the purchase of 51% of the shares of both the Iraqi Electronic Gateway for Financial Services Company (SWITCH) and the Digital Future for Electronic Distribution Services Company,” noting that “the General Assembly approved the authorization of the authorized manager, Ayman Omran Abu Dahim, to sign all agreements, documents and papers necessary to complete and implement the investment decisions.”
He explained that “this step is an integrated business model that combines the banking solvency and advanced technological capabilities of the two companies, enabling the bank to launch an innovative digital services system that includes developing national payments, enhancing financial inclusion for individuals and small and medium-sized enterprises, as well as expanding the network of partnerships with global financial institutions.
This expansion comes in light of the increasing demand for financial technology solutions and smart payment applications in the Iraqi market.”
He explained that “this investment opens the door for the bank to integrate its banking expertise with the technical capabilities of the two companies, which will enhance the development of advanced electronic payment services, transfers, digital wallets, and points of sale, in addition to launching rapidly evolving digital platforms that meet market needs and keep pace with digital transformation trends.”
For his part, the Chairman of the Board of Directors of the National Bank of Iraq, Basim Khalil Al-Salem, said that “the purchase of 51% of Switch and Digital Future companies is a strategic step that reflects confidence in the ability of the Iraqi economy to lead the digital transformation in the region.
This expansion is in line with the bank’s vision of building an advanced financial system based on innovation and advanced technologies, and supporting the development of banking services in accordance with the highest international standards.”
Ayman Abu Dahim, the authorized manager of the National Bank of Iraq, said, “This investment represents a qualitative leap for the National Bank of Iraq, as it provides an advanced technological infrastructure that enables the bank to expand its digital services and launch new products that meet the growing market needs.
The integration of the bank’s expertise and the technical capabilities of the two companies will contribute to strengthening the electronic payments system and providing smart and secure solutions that enhance the customer experience and support the digital transformation in the Iraqi banking sector.” https://economy-news.net/content.php?id=63347
Gold Prices Have Risen Sharply In Baghdad And Erbil
Saturday, December 13, 2025 | Economy Number of views: 232 Baghdad ( NINA ) – Gold prices, both foreign and Iraqi, rose in Baghdad’s local markets on Saturday.
The selling price of a mithqal (approximately 4.5 grams) of 21-karat gold from the Gulf, Turkey, and Europe reached 868,000 Iraqi dinars (approximately 1.5 grams) in the wholesale markets on Al-Nahr Street in Baghdad this morning, while the buying price was 864,000 dinars. This compares to 847,000 dinars (approximately 1.5 grams) on Thursday
The selling price of a mithqal of 21-karat Iraqi gold reached 838,000 dinars (approximately 1.5 grams) and the buying price was 834,000 dinars (approximately 1.5 grams).
As for gold prices in jewelry shops, the selling price of a mithqal of 21-karat Gulf gold ranged between 870,000 and 880,000 dinars (approximately 1.5 grams) and the selling price of a mithqal of Iraqi gold ranged between 840,000 and 850,000 dinars (approximately 1.5 grams).
In Erbil, gold prices also rose, with the selling price of 22-karat gold reaching 895,000 dinars, 21-karat gold 855,000 dinars, and 18-karat gold 733,000 dinars. /End https://ninanews.com/Website/News/Details?key=1266550
The Dollar Continues To Rise In Baghdad
Economy | 13/12/2025 Mawazin News – Baghdad: The exchange rate of the US dollar against the Iraqi dinar has risen in Baghdad markets.
The dollar reached 143,300 dinars per 100 US dollars in the Al-Kifah and Al-Harithiya exchanges in Baghdad, compared to 143,100 dinars per 100 US dollars last Thursday.
The selling price at currency exchange shops in Baghdad’s local markets also increased, reaching 143,750 dinars per 100 US dollars, while the buying price reached 142,750 dinars per 100 US dollars.
https://www.mawazin.net/Details.aspx?jimare=271532
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