Today, a framework meeting will be held to resolve three issues, with the participation of Al-Zidi and the Minister of Finance.

An informed source said on Monday that the leaders of the Coordination Framework will hold a meeting in the presence of the Prime Minister and the Minister of Finance to discuss the vote on completing the government cabinet and next year’s budget.

The source added to Shafaq News Agency that ” the leaders of the coordination framework are holding a meeting this evening in the presence of Prime Minister Ali al-Zubaidi in order to discuss completing the file of restricting weapons to the state, and completing the ministerial cabinet and voting on it at the end of this week or the beginning of next week.” FinancialNews Reports

He added that “the meeting will also include hosting Finance Minister Faleh Sari in order to discuss the 2027 budget bill and related financial and economic issues, which have a political aspect.”

The Coordination Framework, in an emergency meeting last Friday night, confirmed that June 30, 2027 is the agreed deadline for implementing the constitutional article concerning the handling of the weapons issue, calling on all parties to commit to a comprehensive truce .

An informed source revealed to Shafaq News Agency that the State of Law Coalition, led by Nouri al-Maliki, has officially nominated Yasser Sakheel for the Ministry of Interior portfolio, and Haider Bahaa, who currently serves as Dean of the College of Pharmacy at Al-Nahrain University, for the Ministry of Higher Education portfolio.

Shafaq.com

Iraq resumes direct flights to Iran on Thursday

Iraqi Airways announced on Monday that the national carrier will resume direct flights to Iran starting next Thursday, October 8, 2026.

The company’s management stated in a statement received by Shafaq News Agency that the new operating plan includes regular daily flights between Najaf International Airport and the airports of Mashhad, Tehran and Isfahan, which contributes to enhancing the smooth flow of passenger traffic and providing regular air transport options between Iraq and Iranian cities.

The resumption of flights comes after air traffic between Iraq and Iran was halted due to new US sanctions targeting the Iranian aviation sector, which prompted ground service companies at a number of Iraqi airports to refrain from dealing with Iranian airlines for fear of being subjected to sanctions, leading to the suspension of flights.

On September 29, the Iraqi Ministry of Transport announced that Iraqi Airways had obtained a special exemption from US sanctions allowing it to resume flights to Iran, with operations to begin from Najaf International Airport after completing the regulatory and technical requirements.

Shafaq.com

No session on Thursday… “Vacant Ministries” meeting today and “State Administration” meeting tomorrow

The Iraqi parliament has postponed a session scheduled for next Thursday to complete the cabinet formation until next week.

According to an informed source who spoke to Shafaq News Agency, the postponement came as a result of ongoing disagreements over the candidates for the ministries of Labor and Social Affairs, Youth and Sports, and Planning, Reconstruction and Housing.

The source explained that “the Kurdistan Democratic Party is insisting on nominating Rebaz Hamlan for the Ministry of Reconstruction and Housing, as

He will put forward his party’s candidate for the position of fourth deputy prime minister.”

According to the source, the coordination framework will hold a meeting today to discuss the issue of completing the government, while the State Administration Coalition will also hold a meeting tomorrow to discuss the same issue.

In this context, MP Badr Al-Fahhal stated that the political blocs have nominated names to fill the vacant ministerial portfolios, and that the ball is now in Prime Minister Ali Al-Zidi’s court to choose the candidates and send their names to the House of Representatives for a vote and to grant them confidence.

According to Al-Fahl, who spoke to Shafaq News Agency, there is no specific date yet for holding a session of the House of Representatives to grant confidence to the candidates.

An informed source revealed to Shafaq News Agency yesterday, Sunday, that the State of Law Coalition, led by Nouri al-Maliki, officially nominated Yasser Sakheel for the Ministry of Interior portfolio, and Haider Bahaa, who currently serves as Dean of the College of Pharmacy at Al-Nahrain University, for the Ministry of Higher Education portfolio.

The leaders of the coordination framework will meet this evening, in the presence of the Prime Minister and the Minister of Finance, to discuss the vote on completing the government cabinet and next year’s budget.

Shafaq.com

Owning gold is not enough: when the reserve becomes the last line of defense for a nation’s economic security

The question preoccupying central banks today is no longer: How much gold do we have? The more sensitive question has become: Where is this gold located, and who can access it when a crisis strikes? At first glance, this issue appears to be a technical matter related to reserve management, but in reality, it reveals a deeper shift in the concept of economic security. In a world rife with wars, sanctions, trade disputes, and geopolitical risks, mere ownership of assets is no longer sufficient; the ability to access and utilize them in a timely manner has become part of their strategic value.

The recent Dutch move provides a clear example. The Dutch central bank announced the transfer of 86 tons of gold from reserves held in the United States and Canada, as part of a redistribution aimed, according to the bank, at making the country more prepared for severe crises. This move followed other European actions; France announced this year the repatriation of its gold reserves from the United States, while Germany had already transferred more than 216 tons from overseas storage sites, including 111 tons from New York and 105 tons from Paris.

However, interpreting these moves as a European exodus from the United States would be premature. The reality is far more complex. Countries are not abandoning international financial centers; rather, they are redistributing risk. The proof is that a portion of Dutch gold never returned to the Netherlands, but instead moved to London, which remains one of the world’s most important gold trading centers. This reveals a new equation: a country wants a portion of its reserves under its direct control, but also a portion in a deep international market where it can buy or sell quickly.

This leads to the fundamental issue: reserves are no longer measured solely by their size, but also by the degree of control over them, their liquidity, and their geographical location.
In past decades, holding gold in New York or London was commonplace. The global financial system was more stable, and major financial centers provided security, liquidity, and ease of trading.

However, the international environment has changed. Wars, sanctions, asset freezes, and trade disputes have brought back to governments a question that seemed less important in times of stability: what happens if a country possesses a strategic asset but cannot access it quickly enough during a crisis?

This can be understood as a shift from the concept of financial ownership to a broader concept: sovereignty over reserves. While gold held in foreign reserves remains the property of the state, major crises force governments to consider the operational, political, and logistical risks associated with using that asset. Therefore, diversifying reserves domestically and across several international financial centers becomes a form of insurance against unforeseen circumstances.

Most importantly, these moves come at a time when central banks themselves are becoming increasingly interested in gold. According to the report, central banks have purchased an average of about 1,000 tons of gold annually over the past four years. This figure reflects a shift in gold’s role within reserves. While gold doesn’t pay interest like bonds, it has a different advantage: it’s a physical asset that doesn’t, in itself, represent a financial obligation for another government.

Therefore, we may see two parallel trends continue in the coming years: increased interest in gold and greater diversification of where it’s stored. Countries don’t necessarily need to repatriate all their gold. Domestic storage is expensive and requires highly secure vaults, auditing and insurance systems, and specialized security infrastructure. Central banks are likely to move towards a distributed model: some held domestically, some in London or other major financial centers, and perhaps some in multiple countries.

The broader impact concerns the future of the global financial system. Moving tens of tons of gold doesn’t signify the end of the dollar’s dominance, nor does it mean that Europe has lost confidence in the American financial system. But if this trend is accompanied by central banks continuing to buy gold and diversify currencies, assets, and reserve holding locations, we may be facing a gradual shift from a highly concentrated model to a more diversified and risk-distributed system. TradeForex

This shift won’t happen overnight. The dollar’s position and that of the US financial markets are built on a massive economic and financial base, liquidity, and institutions accumulated over decades. Therefore, it’s a mistake to interpret every gold shipment moving from New York as a direct blow to the dollar. The most important indicator isn’t the movement of gold itself, but rather the way central banks are thinking: efficiency, returns, and liquidity are no longer the only considerations; geopolitical security is now playing a more significant role in reserve management calculations.

Herein lies an important paradox. In the past, countries moved gold abroad in search of safety. During the Cold War, for example, some European central banks kept a portion of their gold reserves in New York, away from the geopolitical risks in Europe. Today, in a different environment, some countries are redistributing their gold again due to different kinds of risks. This means that the concept of a “safe haven” is not fixed; it changes as the nature of international risks evolves.

While continued official demand for gold can still support the market, it is not the sole factor determining prices. Gold prices are also affected by interest rates, inflation, the dollar, growth forecasts, and the magnitude of geopolitical risks. Therefore, it cannot be concluded that repatriating reserves to Europe will, on its own, lead to a rise in gold prices. However, when central bank purchases coincide with political and economic concerns, gold becomes even more important as a hedging and risk management tool.

The issue, then, is larger than just the Netherlands, France, or Germany. We are witnessing a quiet redefinition of the concept of national reserves. A country preparing for a future crisis is not only asking about the value of its assets on paper, but also about its actual ability to use them when markets, trade routes, or political relations become disrupted.

Therefore, the most important lesson from the movement of European gold is not that a major crisis will occur tomorrow, but rather that countries are now acting on the premise that crisis preparedness must precede the crisis itself.

In the economic system that is taking shape today, simply owning gold may not be enough. The true power of reserves will increasingly depend on three interconnected elements: ownership, control, and accessibility. As central banks begin to rethink these elements, the movement of gold between vaults will cease to be a mere logistical process and become an indicator of a deeper shift: financial security is no longer separate from geopolitical security, and the location of wealth has become as much a component of a nation’s power as the value of the wealth itself.

Rawabetcenter.com

The United States congratulates Iraq on its National Day and commends the strengthening of sovereignty.

On Saturday, the United States congratulated the Iraqi people on their national day, affirming its commitment to strengthening the bilateral partnership and supporting the country’s stability and sovereignty. Dailynews reports

This came in a press statement issued by US Secretary of State Marco Rubio on the occasion of Iraq’s National Day on October 3, in which he praised the depth of historical relations and the strength and achievements of the Iraqi people.

Rubio pointed to the visit of Iraqi Prime Minister Ali al-Zaidi to Washington last July and his meeting with President Donald Trump at the White House, noting that it reflected the strength of the friendship between the two countries and the shared commitment to building a strong and prosperous future.

The US Secretary of State added that the economic partnerships announced during that visit embody the broad potential for trade and investment cooperation between American and Iraqi companies.

Rubio also welcomed Iraq’s continued efforts to strengthen its sovereignty and contribute to establishing security and stability in the Middle East region.

Iraq celebrates its National Day on October 3rd of each year, which is an official holiday throughout the country.

Shafaq.com

Import Allocation Monitoring Authority: Every dinar that enters and leaves the Iraqi treasury is subject to monitoring.

The General Authority for Monitoring the Allocation of Federal Revenues revealed on Saturday its procedures for monitoring the movement of funds from the treasury to spending entities, stressing that every dinar that enters and leaves the treasury is subject to monitoring. Dinarnews subscription

According to the official agency, the head of the General Authority for Monitoring the Allocation of Federal Imports, Susan Abdullah, said, “The Authority is independent and serves as an early warning system for combating corruption, as the Authority’s tasks include monitoring allocation and supervising funding from the Ministry of Finance to ministries and governorates, and then monitoring the optimal use of funding. Consequently, all revenues and imports that come to Iraq federally from any institution are investigated by the Authority, which verifies the sources of revenues.”

She pointed out that “every dinar that enters and leaves the Iraqi treasury is under the observation and monitoring of the commission,” indicating that “there are many corruption files that have been monitored and referred to the Integrity Commission, the judiciary, and the Financial Control Bureau.”

Abdullah emphasized, “There is no overlap in work with the Federal Board of Supreme Audit; rather, there is institutional integration between the Board and the Integrity Commission. They have the scope to operate, and we have sufficient scope.” She pointed out that “the Commission, which monitors the allocation of federal revenues, is the only entity in Iraq that oversees funds before disbursement and follows up on them after disbursement.”

Alrabiaa.tv

Minister of Finance: Tax documentation paves the way for a new phase of digital transformation

Finance Minister Faleh al-Sari affirmed on Saturday that tax documentation paves the way for a new phase of digital transformation.

A statement from the ministry, received by the Information Agency, indicated that “the minister oversaw the launch of the first electronic tax accounting system for major taxpayers during his visit to the General Authority for Taxes, in the presence of several directors general from the Ministry of Finance.”

He added that “the launch of the system comes within the framework of the government program and the Ministry of Finance’s direction towards digital transformation, modernizing financial management, and simplifying procedures, which contributes to raising the efficiency of tax operations and facilitating procedures for taxpayers.”

He pointed out that “the system allows taxpayers to complete tax accounting procedures electronically and pay amounts remotely, without needing to visit the Authority’s headquarters. It also allows for the electronic storage and archiving of documents and enables review of returns by audit and compliance teams, thus enhancing work efficiency and preserving the rights of the public treasury and public funds.”

According to the statement, the minister stressed that “the launch of the electronic tax accounting system represents a practical step in modernizing tax administration and transitioning from paper-based transactions to a digital system that keeps pace with technological advancements in tax collection methods.”

He added that “the electronic system represents the first phase of the digital transformation project for tax operations, and the first building block for a comprehensive electronic tax system,” noting that the selection of major taxpayers is a starting point for the project, with the digital transformation phases to expand later to include various taxpayer segments.

Almaalomah.me

Proof of source of funds and vague fees: Institutional obstacles hindering trade regulation in Iraq

Manar Al-Obaidi, head of the “Iraq Future” Foundation for Economic Studies and Consultations, criticized on Saturday the obstacles and impediments facing traders in Iraq from the stage of establishing their companies and projects through obtaining hard currency to the banking procedures related to this matter, warning of the consequences of the bureaucracy facing the labor market and its impact on increasing the unemployment rate in the country. Financialnews aggregation

Al-Obaidi said in a detailed post, “After more than three years of implementing the external transfer restrictions, it is not enough to repeat the demand for traders to deal with banks, and then interpret the continued resort of some of them to the parallel market as merely a refusal to comply,” adding, “We are asking the trader to become a banking regulator, while he faces complications from the moment he registers his business.”

According to the World Bank’s Doing Business 2020 report, Iraq ranked 154th out of 190 economies in ease of starting a business, with an average of 8.5 procedures and 26.5 days to establish a company and officially begin its operations, based on the case studied in Baghdad.

The economist stressed that “these figures reveal that the obstacles to establishing businesses preceded the external transfer restrictions by years,” noting that “tightening the transfer requirements needed a parallel reform to make fulfilling them possible.”

State dues

Al-Ubaidi noted that “taxes, social security, fees, and other obligations should be clear and calculable before a merchant makes his decision. However, the abundance of instructions, their overlap, and the difficulty in understanding their application make the final cost unclear to him.”

He pointed out that “the merchant can include a known fee within the cost of his goods, but it is difficult for him to plan for a commitment whose amount or timing he does not know. This is in addition to the financial extortion he is subjected to, which exceeds the money he pays to the state, which accumulates the cost of his trade whenever entering the formal sector becomes linked to uncertainty and its weak attractiveness, even if it allows obtaining currency at the official rate.”

Proof of source of funds

Al-Ubaidi pointed out that “a trader who has been working for twenty years, buying and selling for cash, and reinvesting his profits in merchandise, but he does not have regular financial statements or complete historical records. Today he is required to provide documents explaining how his capital was formed,” indicating that “his activity may be legitimate, but his commercial history is not documented in the way that the bank needs. Here the gap appears: he has an existing business and accumulated funds, but he does not have the financial file that allows verification of them.”

He stressed that “this gap needs institutional treatment: a clear path for documenting the activity and sources of funds, accounting assistance, and requirements that are commensurate with the size of the activity and its risks, without dropping verification or being lenient with illicit funds. A financial record that has not been built over years will not appear simply by issuing new instructions.”

Banking obstacles

The economist stressed that “even a merchant who fulfills his requirements may encounter a bank that does not find sufficient benefit in serving him,” noting that “a small transfer requires verification of the identity of the client, the beneficiary, the source of funds, the invoice, and the purpose of the transfer,” pointing out that “a large part of this work is also required for a large transfer, while the return from a small one may be much less.”

The head of the “Iraq of the Future” Foundation warned that “this disparity creates an incentive for some banks to favor large transfers and set limits or conditions that exclude small ones, and the result is that the merchant whom we ask to move to official channels may not find a banking service suitable for the size of his business.”

Al-Ubaidi ruled out a decline in reliance on the parallel market if the official alternative remains difficult to access, unclear in cost, and limited in service to small traders, calling for the importance of finding alternative solutions that rely on technology and automation to regulate trade and link traders with approved suppliers, banks, and shipping companies.

Digital solutions for businesses

The economist suggested “a digital solution that the merchant enters with a small purchase order, which helps him complete his file, provides a documented invoice from an approved supplier, clarifies the cost of purchase, shipping and fees, collects similar orders, and links payment to the arrival and receipt of goods. Thus, with each transaction, the merchant creates a commercial and financial record that can be referred to.”

He added that “the success of these digital solutions requires that they be accompanied by simpler procedures for registering businesses, declared and accountable government dues, an approved path for documenting funds, and a banking commitment to serving small transactions.”

Al-Ubaidi concluded, “Either we place obstacles, impediments, and ambiguity before the merchant, demonizing him under the pretext that he is the one creating currency market speculation, or we demonstrate a clear lack of understanding of the market and the commercial sector.” He added, “Every small merchant represents a job opportunity for five people directly and five indirectly,” and warned that “the cessation of any merchant’s work, or the decline in his business, means the loss of ten direct and indirect job opportunities in a market where unemployment rates are already high.”

The economist concluded by saying, “Whoever wants to reduce the parallel market must make the official route usable. The trader needs a door he can enter through, a cost he knows in advance, and a bank that accepts his service.”

Shafaq.com

Iraq is the third largest Arab country in terms of gold holdings during the month.

Data from the World Gold Council for September 2026 showed that the total gold reserves of the Arab countries listed in the table of the top 100 holders amounted to 1,649.1 tons. Businessnews alerts

Saudi Arabia topped the list of Arab countries with reserves of 323.1 tons, followed by Lebanon with 286.8 tons, then Iraq with 175.6 tons, Algeria with 173.6 tons, and Libya with 146.7 tons.

The list also included Egypt with 129.7 tons, Qatar with 116.2 tons, Kuwait with 79 tons, Jordan with 77.8 tons, the UAE with 74.5 tons, Syria with 25.8 tons, Morocco with 22.1 tons, Tunisia with 6.8 tons, Oman with 6.7 tons, and Bahrain with 4.7 tons.

The total gold reserves of all countries and entities listed in the table of the top 100 holders amounted to approximately 36,478 tons, with the holdings of Arab countries, amounting to 1,649.1 tons, constituting approximately 4.52% of the total gold listed in the table.

The World Gold Council’s table includes the top 100 gold holders, and in addition to countries, it includes some official institutions. The Council’s data shows that the data sources include central banks, the International Monetary Fund, and other official sources.

Shafaq.com

The coordination framework calls for de-escalation and sets a deadline for addressing the weapons issue.

The Coordination Framework affirmed on Saturday the importance of continuing to strengthen the state of institutions and the rule of law, calling on all parties to fully commit to a comprehensive truce.

The framework stated in a statement that the responsible positions of the factions towards the public interest and their commitment to the agreement document are appreciated, noting that this came after a great effort led during the past period by sincere parties.

The framework expressed its deep gratitude to the supreme religious authority, which it described as “the safety valve of the nation,” and extended its highest congratulations to the sons of the Iraqi people, especially the security forces in all their formations and branches, in appreciation of their role in defending the homeland and preserving its dignity and sovereignty. Iraqtravel guides

The Coordination Framework appreciated the International Coalition’s commitment to withdraw from Iraq within the specified timeframe, after it had played a major role in combating terrorism. It also thanked the Quartet Committee for its efforts, stressing the need for it to continue its work at the same pace until June 30, 2027, the agreed-upon deadline for implementing the constitutional article related to addressing the issue of weapons.

In closing, the Coordination Framework expressed the high capacity of the government and the state, which enables them to preserve all components of Iraq and make Iraq a safe investment environment.

Burathanews.com