Iraqi Banks Are Under Liquidation, And The Central Bank Remains Silent.
August 14, 2025 Last updated: August 14, 2025 Al-Mustaqilla/- The Governor of the Central Bank of Iraq recently revealed that 10 Iraqi banks are facing liquidation due to their inability to fully provide services to customers.
In addition, some banks are facing sanctions that prevent them from dealing in US dollars.
Despite the governor’s announcement, the Central Bank has yet to publish an official list of these banks on its website, raising questions about why this information has not been disclosed to customers and relevant authorities.
An informed source confirmed that the number of banks subject to liquidation may increase in the coming days, given the ongoing financial pressures and operational difficulties facing some banking institutions.
This development comes at a time when the Central Bank is seeking to enhance financial stability and
protect customer funds, but it faces significant challenges in enforcing transparency and
accountability for struggling banks.
Analysts suggest that not announcing the names of the banks may be aimed at avoiding customer panic or speculation on deposits, but it also raises investor concerns and raises questions about the effectiveness of banking oversight in Iraq.
As these developments continue, citizens and customers await a detailed official statement from the Central Bank revealing the names of the affected banks and the measures taken to guarantee depositors’ rights.https://mustaqila.com/10-مصارف-عراقية-تحت-التصفية-والبنك-المر/
Compared To Last Year, Expert: Non-Oil Revenues Declined By 43.6%
economy | – 08/14/2025 Mawazine News – Baghdad – Economic expert Nabil Al-Marsoumi revealed on Thursday that non-oil revenues in Iraq declined during the first half of 2025, reaching 4.951 trillion dinars, compared to 7.118 trillion dinars in the same period last year, a decrease of 2.167 trillion dinars, or 43.6%.
Al-Marsoumi said in a post on his Facebook account, followed by Mawazine News, that “this decline is the result of lower revenues from income and wealth taxes and fees,” noting that “planned non-oil revenues in the three-year budget amounted to 27 trillion dinars, which means a large gap between planned and actual revenues by the end of the year, which will lead to an increase in the actual deficit in the general budget.”
He added that “the data showed a decline in the contribution of non-oil revenues to general revenues to only 8%, compared to 11% in the first half of 2024, a percentage far from the government’s target of 20%.” https://www.mawazin.net/Details.aspx?jimare=265088
Why Have Non-Oil Revenues Declined In Iraq? Nabil Al-Marsoumi Answers.
August 14, 2025 Baghdad/Iraq Observer Economist Nabil Al-Marsoumi explained the decline in non-oil revenues in Iraq during the first half of 2025, after recording a modest figure of 4.951 trillion dinars, compared to 7.118 trillion dinars in the first half of last year, a decrease of 2.167 trillion dinars, or a decrease of 43.6%.
He attributed this decline to a decline in revenues from income and wealth taxes and fees.
He explained in a post on his Facebook account that planned revenues in the three-year budget amounted to 27 trillion dinars, and therefore the gap between planned and actual non-oil revenues will be large at the end of the year, thus increasing the actual deficit in the general budget.
He stressed that this decline in non-oil revenues led to a decrease in their contribution to public revenues to only 8%, while they contributed 11% during the same period in 2024. This percentage is far from the target number in the government program, which is 20%. https://observeriraq.net/لماذا-تراجعت-الإيرادات-غير-النفطية-في/
Development Plan 2024–2028: Iraq Moves Towards A Productive Economy With Revenues Exceeding 700 Trillion Dinars
Reports Economy News – Baghdad In one of the most significant economic transformations in recent years, the Iraqi government has begun implementing the National Development Plan for 2024–2028. The plan aims to transform the national economy by diversifying sources of income and reducing dependence on oil, while also addressing unemployment and boosting investment in vital sectors.
The plan, supported by a clear government vision and political will, includes profound structural reforms and precise performance indicators that are monitored periodically. This comes at a time when projected revenues are estimated at more than 710 trillion Iraqi dinars and investments exceeding 240 trillion dinars are required to achieve its goals.
While the Ministry of Planning emphasized the importance of capital allocation and investment in priority sectors, government agencies viewed the plan as a true economic lever, while economic experts considered it one of the most realistic and comprehensive plans for addressing Iraq’s development challenges.
For his part, the Prime Minister’s Advisor for Financial and Economic Affairs, Mazhar Mohammed Saleh, highlighted the importance of the five-year national development plan for the years 2024–2028.
Speaking to Al-Eqtisad News, Saleh emphasized that the five-year plan reflects a genuine national determination to achieve significant goals in economic progress and prosperity, noting that it relies on population census data to accurately and efficiently guide its implementation.
He added that the plan’s fundamental objective is to implement profound structural reforms, transforming it from a mere written document into an economic lever capable of transforming the production and employment equation and transforming Iraq from a rentier economy to a productive and competitive one, provided it is managed efficiently as a comprehensive national mission.
The advisor pointed out that the success of the five-year plan requires a combination of institutional, financial, and executive components, most notably political will embodied in the government program, with direct support from senior leadership, which has worked to protect planning institutions from fluctuations.
He also stressed the importance of providing a binding legislative and regulatory framework to transform the plan into a law that defines objectives, resources, and responsible parties, in addition to ensuring sustainable and diversified funding consisting of oil revenues, private investments, and soft development loans.
Clear performance indicators and periodic monitoring
Saleh explained that the plan relies on precise governance and continuous monitoring based on key performance indicators (KPIs), which are reviewed semi-annually to ensure commitment and actual implementation of projects.
According to Al-Sudani’s advisor, the most prominent targeted indicators include “annual GDP growth of no less than 5%, an unemployment rate of no more than 8% annually, an inflation rate of no more than 5%, and a petrochemical sector contribution of 5% to GDP.”
He pointed to increasing oil production to 6 million barrels per day, utilizing associated gas by 90%, and increasing the contribution of non-oil sectors to more than 50% of national income. The plan also includes indicators related to the manufacturing, health, education, and infrastructure sectors.
Professional Management and Community Engagement
Saleh added that an important success factor is the formation of specialized implementation teams to manage projects according to international standards (PMI), without quotas or regional distribution. He emphasized the importance of civil society and private sector participation in formulating and implementing the plan, including chambers of commerce and industry and unions.
He concluded by stating that the five-year plan represents a fundamental pillar of sustainable development in Iraq, and requires concerted efforts and genuine national commitment to ensure its transformation into a tangible reality that is reflected in citizens’ living standards and overall economic growth.
In addition, the Ministry of Planning announced that the total revenues expected to be achieved during the five-year development plan period (2024-2028) amount to approximately 710 trillion Iraqi dinars.
The ministry’s official spokesperson, Abdul Zahra Al-Hindawi, told the official agency that the largest portion of these revenues will come from the oil sector, with oil revenues expected to reach approximately 631 trillion dinars, while non-oil revenues are estimated at approximately 79 trillion dinars.
Al-Hindawi added that the five-year plan estimated the volume of investments required to achieve the targeted economic growth rate of 4.24% during its implementation period at more than 241 trillion dinars.
Meanwhile, economic researcher Ali Daadoush asserted that the recently prepared five-year plan is one of the best studies to address the reality of the Iraqi economy, addressing key economic challenges and presenting future investment opportunities to advance the country’s development.
In an interview with Al-Eqtisad News, Daadoush explained that the plan sets ambitious macroeconomic trends, most notably achieving a targeted growth rate of 5% to 6% on an annual average, in addition to targeting natural inflation, stabilizing the exchange rate, and reducing the general budget deficit.
He pointed out that the plan focused on productive sectors, particularly agriculture and food industries, by adopting modern irrigation systems and strategic crops with high water returns, and by establishing specialized logistics and manufacturing zones for dates, grains, poultry, and dairy products, with the aim of enhancing import substitution and increasing local added value.
According to Daadoush, the plan also addressed challenges in other sectors, such as the digital economy, payment systems, and financial sector reform, along with private sector development and increased employment opportunities.
A “single window” approach was adopted to remove regulatory barriers (such as licenses, taxes, and industrial land allocation) within a period not exceeding 72 hours, in addition to linking technical education to the needs of priority sectors.
Regarding the components of the plan’s success, the researcher stressed the importance of having clear governance and issuing a playbook for projects that includes the stages of selection, financing, implementation, monitoring, and evaluation, in addition to shifting from item budgets to program and performance budgets, so that each plan includes a program with performance indicators, a direct supervisor, a specific budget, and clear outputs.
Daadoush concluded his remarks by emphasizing the need to enact a law mandating the implementation of the national plan, in conjunction with the general budget and the government program. He considered this tripartite integration to be the cornerstone of sustainable development in Iraq.
The Ministry of Planning believes that the largest share of capital formation will be allocated to the oil sector, at 27.4%, followed by the housing ownership sector, at 22.5%, and then social development services, at 20.8%.
She pointed out that “the water and electricity sector will constitute 8.6% of the total planned capital formation, while the manufacturing sector’s share will be approximately 7.8%.” https://economy-news.net/content.php?id=58786
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