Tishwash: Economic Institution: Central Bank Reforms Boost Investor Confidence and Open the Way to Global Markets
Khaled Al-Jaberi, Chairman of the Osool Foundation for Economic and Sustainable Development, affirmed on Tuesday that the reforms led by the Central Bank are fundamental and have contributed to transforming the banking sector from a restricted reality to one open to the world.
He explained that these steps will open up broad horizons for Iraqi banks and positively impact the overall economic and investment activity in the country.
Al-Jaberi told the Iraqi News Agency (INA): “The current reforms have transformed the banking sector from being restricted and deprived of dealing in dollars to a sector capable of opening correspondent banks and restoring its international relations, which will directly reflect on improving banking services and stimulating economic activity in Iraqi markets.”
He added, “Iraqi banks welcomed these reforms because they are an indispensable necessity. The banking sector is suffering from numerous problems, and a comprehensive reform is needed to ensure the ability to conduct international transactions and ensure the freedom to trade in dollars.”
He explained that “the investment environment in Iraq has become attractive thanks to the security stability, and this has prompted investors to enter the Iraqi market.” He explained that “investors are always looking for two basic answers: the status of the banking sector and the country’s tax system. If reassurance is achieved in these two aspects, investments begin to flow.”
Al-Jaberi pointed out that “banking reforms will lead to broader relationships with correspondent banks, putting Iraq on the path to opening up to the global market and facilitating the transfer of funds in line with international standards.”
He continued, “Financial technology and digital transformation are a fundamental pillar of these reforms, as they are not limited to banking policies alone, but rather encompass all aspects of banking operations. This positively impacts all economic sectors, such as agriculture, industry, and tourism, and contributes to facilitating the movement of funds and trade both domestically and internationally.”
Earlier, Central Bank Governor Ali Al-Alaq confirmed that the banking reform plan would boost international confidence and restore relations with correspondent banks. link
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Tishwash: Rafidain Bank: Approximately 87% of foreign debt settled
Rafidain Bank announced today, Tuesday, the completion of settling about 87% of the foreign debt file, as a statement from the bank stated that “the bank announced a new step that embodies its firm commitment to international credibility and consolidating confidence in the Iraqi financial sector
Confirming the previous announcement regarding Rafidain Bank’s achievement of settling about 87% of the foreign debt file and achieving a major negotiating breakthrough with major Dutch and French creditor companies in accordance with Cabinet Resolution No. (403) of 2025.”
The statement added, “The bank, through its legal and international team, was able to close all lawsuits filed by Dutch companies before the Curaçao Court after reaching final legal settlement agreements. The settlement contracts were officially filed in the lawsuit files and announced in accordance with approved international judicial frameworks.”
The statement continued, “This step complements the tireless efforts made by the Iraqi government and the General Administration of Rafidain Bank to settle old obligations and strengthen Iraq’s legal and financial position before international courts, thus consolidating the bank’s image as a sovereign arm capable of protecting the state’s interests and managing its foreign affairs with the highest levels of professionalism and governance.”
He also stressed that “what has been achieved today reinforces Rafidain Bank’s strategic path toward fully closing its foreign debt portfolio and sends a clear message to the international community that Iraq is steadfastly pursuing financial reform and strengthening confidence in its economic sovereignty.” link
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Tishwash: Erbil Chamber of Commerce opens doors for cooperation with business owners in Saudi Arabia.
The Erbil Chambers of Commerce and Industry announced on Tuesday that a trade meeting will be held between traders and business owners from the Kurdistan Region and Saudi Arabia in the near future.
A statement issued by the Chamber, received by Shafaq News Agency, said, “The head of the Chamber, Gilan Haji Saeed, received today the Director of the Saudi Trade Representation Office in Erbil, Azzam bin Muhammad, in the presence of the members of the Chamber’s Executive Council, Khalil Goran, Shirin Yahya Khalil, and Rashid Mustafa Mirkhan. The focus was on strengthening economic and trade relations between Saudi Arabia and the Kurdistan Region.”
Gilan Haji Saeed said, “The basic backbone of establishing and strengthening trade is relations,” expressing his hope that, through the Saudi Trade Representation Office in Erbil, efforts will be made to establish relations between the Erbil Chamber of Commerce and Saudi chambers and trade organizations.”
Saeed called for “cooperation in sending schedules of Saudi exhibitions, conferences, and economic events, so that business owners can benefit and participate through the Erbil Chamber of Commerce and Industry.”
The statement noted that “the meeting discussed organizing a trade meeting between traders and business owners from Saudi Arabia and the Kurdistan Region in the near future, as well as highlighting the importance of introducing and marketing the products of both parties.” lin
