Al-Sudani Confirms Significant Progress In Implementing Compliance And Anti-Money Laundering Standards.
Tuesday, October 7, 2025, Economics Number of readings: 327 Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani confirmed that significant progress has been made in implementing compliance and anti-money laundering standards.
A statement by his media office stated that Al-Sudani received, on Tuesday, a delegation from the international auditing and financial consulting company KPMG, where the progress of the company’s cooperation with the Iraqi banking sector was reviewed, as part of the government’s efforts to enhance the transparency of this sector’s work and sustainably improve Iraq’s financial reputation.
Al-Sudani pointed out that the banking reform in Iraq has become a model of commitment and trust, and appreciated the role played by financial auditing companies in consolidating governance and professionalism in this sector, stressing that the government looks forward to a strategic partnership with these companies, on the path to enhancing the credibility of Iraqi state institutions before the international financial and economic community.
The Prime Minister explained, according to the statement, that Iraq is proceeding with implementing the government’s financial and banking reform program plans, which has contributed to improving the financial rating, raising the confidence of international partners in Iraqi banks, and achieving significant progress in applying compliance and anti-money laundering standards, and the transition to modern electronic reporting.
Al-Sudani pointed out the importance of benefiting from the company’s expertise in structuring government companies and raising their operational efficiency, public debt management issues, and specialized technical and legal consultations in drafting contracts for major strategic projects.
He stressed the government’s support for the steps of the Central Bank of Iraq and the Trade Bank of Iraq in continuing technical coordination with KPMG to ensure the rapid completion of audit tasks, adherence to international standards, and the timetable for issuing the final accounts of banks, stressing that the government considers transparency and financial accountability a fundamental pillar in building a modern national economy. /End
https://ninanews.com/Website/News/Details?key=1255737
World Gold: Iraq Has Not Been Updated Since January
Money and Business Economy News – Baghdad The World Gold Council announced on Tuesday that Iraq has not updated its gold reserves data since January 2025.
In its latest statistics for October, reviewed by Al-Eqtisad News, the council stated that “Iraq has not updated its data on its gold reserves and has not announced any purchase or sale since last January, and therefore reserves have remained unchanged.” It indicated that it “maintained its 29th place globally out of the 100 countries with the largest reserves of the precious metal.”
He added, “Iraq’s gold reserves amount to 162.7 tons, equivalent to 17.4% of its other foreign currency reserves, ranking fourth in the Arab world after Saudi Arabia, Lebanon, and Algeria in terms of gold reserves.”
The Council noted that “the United States of America tops the list of the world’s largest gold holders, with 8,133,000 tons, followed by Germany with 3,350,000 tons, then Italy with 2,451,000 tons, while Trinidad and Tobago and Iceland came in last with two tons each.”
The UK-based World Gold Council has extensive experience and in-depth knowledge of the factors influencing the gold market and includes the world’s largest and most modern gold mining companies as members.
https://economy-news.net/content.php?id=60892
Gold Exceeds $4,000 For The First Time In Its History
Economy | 08:13 – 08/10/2025 Mawazine News – Follow-up The price of gold surpassed $4,000 an ounce on Wednesday morning for the first time in the precious metal’s history, as investors flocked to the safe haven amid concerns over several issues, including the US government shutdown and the political crisis in France.
Gold also received support from investors seeking a safe haven amid rising economic and geopolitical uncertainty, along with expectations of further interest rate cuts by the Federal Reserve.
Spot gold rose 0.3 percent to $3,997.09 per ounce by 0202 GMT, after hitting an all-time high of $4,000.96. US gold futures for December delivery rose 0.4 percent to $4,020 per ounce, according to Reuters data.
Gold is often considered a store of value in times of uncertainty. Spot gold has risen 52% since the beginning of the year, following a 27% rise in 2024.
“There’s so much confidence in this trade now that the market will be waiting for the next big number, 5,000, with the Fed likely to continue cutting interest rates,” said Tai Wong, an independent metals trader.
“There will be some bumps in the road, such as a permanent truce in the Middle East or Ukraine, but the fundamental drivers of trade – massive and growing debt, reserve diversification, and a weaker dollar – are unlikely to change in the medium term.”
A combination of factors, including increased central bank buying, renewed interest in gold-backed exchange-traded funds (ETFs), a weaker dollar, and strong retail demand, have fueled the yellow metal’s rally.
The US government shutdown entered its seventh day on Tuesday, delaying the release of key economic indicators, forcing investors to rely on secondary non-government data to predict the timing and extent of interest rate cuts.
https://www.mawazin.net/Details.aspx?jimare=267999
Global Oil Prices Rise After Oversupply Fears Are Alleviated.
Economy | 08/10/2025 Mawazine News – Follow-up Oil prices rose in early trading on Wednesday as markets began to shake off concerns about a supply glut for now after absorbing OPEC+’s decision to modestly increase production in November.
Brent crude futures rose 40 cents, or 0.6%, to $65.85 a barrel by 00:45 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 44 cents, or 0.7%, to $62.17.
Both benchmarks settled largely flat in the previous session as investors assessed signs of a supply glut against lower-than-expected production increases from OPEC+, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies. https://www.mawazin.net/Details.aspx?jimare=268001
Again. The Exchange Rate Rose In Baghdad.
Economy | 10:35 – 08/10/2025 Mawazine News – Baghdad – The exchange rate of the US dollar rose against the Iraqi dinar, Wednesday morning, in the markets of the capital, Baghdad.
The dollar price rose slightly in the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 141,600 dinars for every $100, compared to yesterday’s prices of 141,550 dinars on Tuesday.
The selling price in exchange shops in the local markets in Baghdad reached 142,500 dinars for every $100, and the purchase price reached 140,500 dinars. https://www.mawazin.net/Details.aspx?jimare=268013
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