Following the easing of visa requirements, Damascus confirms the start of a new phase of trade exchange with Iraq.

On Tuesday, Mohammad Imad Al-Mawlawi, a member of the executive office of the Damascus Countryside Chamber of Commerce, affirmed that the decision to facilitate the granting of visas to traders between Syria and Iraq is an important step to enhance trade and investment exchange and expand partnership opportunities between the two countries, expecting its effects to gradually appear during the coming year. Iraqeconomic reports

Al-Mawlawi told Shafaq News Agency that the importance of the decision lies in removing one of the obstacles to direct trade, as it allows traders to travel to inspect markets, negotiate with buyers and suppliers, follow up on shipments, dues and warehouses, participate in exhibitions and build continuous trade relationships, which reduces reliance on intermediaries and their costs, and gives Syrian companies better opportunities to access the Iraqi market.

He added that facilitating movement will positively impact the mutual exports between the two countries, whether Syrian to Iraq or Iraqi to Syria, by enhancing direct communication between importers and distributors, enabling the monitoring of marketing campaigns and shipments, as well as enabling brand owners to send delegates and representatives to follow up on their work in the markets on an ongoing basis.

He pointed out that direct communication between traders contributes to reducing costs, exchanging experiences, and benefiting from the commercial and industrial experiences of both parties. He explained that the decision benefits traders registered in chambers of commerce within the excellent, first, and second grades, who have significant business volumes, production capabilities, and trade figures, as it allows them to expand their activity, access new markets, and participate in exhibitions and trade events.

Al-Mawlawi explained that possible areas of cooperation include the agriculture, industry, transportation, logistics, transit, energy, building materials and reconstruction projects sectors, noting that Syria has important opportunities for economic growth, and that facilitating visas may pave the way for increased mutual investments and the establishment of new partnerships.

However, he stressed that visa facilitation, despite its importance, is not enough on its own to guarantee the flow of investments, but needs to be complemented by other procedures and agreements, including activating border crossing agreements, providing more facilities, and simplifying procedures for the flow of business and trade between the two countries.

He explained that the decision came in response to the demands of the chambers of commerce to facilitate visa procedures, noting that the chambers are working in this direction with a number of countries, including Iraq, Turkey and Jordan, to promote the movement of businessmen and trade exchange.

Al-Mawlawi stressed the importance of the role of chambers of commerce in the next stage, through organizing meetings between businessmen, providing information related to markets and investment opportunities, working to overcome obstacles and transform communication channels into actual partnerships and investments, expressing his hope that the results of these measures will begin to appear in a tangible way during the next year.

The Federation of Syrian Chambers of Commerce announced on November 2 that the Iraqi government had agreed to facilitate the granting of entry visas to Syrian traders of excellent, first and second class, provided that their applications are completed by letters of recommendation issued by the Federation.

Syrian traders were facing difficulties in obtaining visas, which limited their ability to track their goods and make deals directly, and led some of them to rely on intermediaries.

The move comes after Iraqi Prime Minister Ali al-Zaidi’s visit to Damascus on October 28, where he discussed with Syrian President Ahmed al-Sharaa strengthening economic and trade cooperation, expanding investment opportunities, and developing trade routes between the two countries.

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American message to Baghdad: Iraq is a state sponsor of terrorism if it does not control the weapons of the factions.

Well-informed political sources reported on Tuesday that the acting US ambassador to Iraq, Steven Fagin, had delivered direct messages in recent days to government and political figures, confirming that Washington is monitoring steps to restrict weapons to the state.

According to sources who spoke to Shafaq News Agency, Fagen warned that failure to comply with the pledges and failure to put in place a concrete plan to end the presence of weapons outside the control of the state by next June 30 will push Washington to consider Iraq a state sponsor of terrorism and to take various sanctions and measures against it.

The sources added that Fagen confirmed, during his recent meetings in Baghdad, that Washington has not yet seen real and tangible measures that confirm the state’s monopoly on weapons, especially with the continued threats from the factions, the latest of which was the attempt to target the US embassy in central Baghdad with drones.

Earlier today, a source familiar with the inner workings of the Quartet Committee tasked with negotiating with the factions revealed that Prime Minister Ali al-Zaidi had intervened in the negotiations by holding separate meetings with some leaders of the groups refusing to hand over weapons.

According to the source, the committee is continuing its meetings and has achieved significant progress in this regard, and it is committed to completing its mission by the date announced by the Prime Minister, the end of June 2027.

The Loyalists Movement confirmed last Friday that the movement will not hand over its weapons, explaining that the agreement includes regulating and limiting weapons during the period from September 2026 to June 2027, and not withdrawing or handing them over.

It is worth noting that the state’s monopoly on weapons does not have the consensus of the Iraqi factions, as the Al-Nujaba Movement, Kataib Hezbollah, Kataib Sayyid al-Shuhada and other factions have announced their refusal to give up their military capabilities.

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Calls for the Ministry of Finance to intervene: The difficulty in applying for “Rafidain” loans through the application opens the door to exploitation.

A number of employees and retirees called on Finance Minister Faleh al-Sari and members of the House of Representatives, especially the Parliamentary Finance Committee, to intervene urgently to address the difficulties facing applications for bank loans issued by Rafidain Bank, and to find solutions that ensure that those entitled to them can access them without complications. ReadDaily News

A number of employees and retirees told Shafaq News Agency that the electronic application for loan applications is only open for short periods of time, not exceeding a few minutes, before it stops again due to the heavy pressure on the system, thus depriving large numbers of those wishing to apply of the opportunity to obtain the loan.

They added that the difficulty in accessing the application and completing the application procedures has led some citizens to resort to intermediaries in exchange for money, in an attempt to obtain the advance, which raises concerns about exploiting the needs of employees and retirees, and undermines the principle of equal opportunities among applicants.

Employees and retirees called on the relevant authorities to take urgent measures to facilitate the application process, develop the technical infrastructure of the application to accommodate the large number of users, and provide electronic channels and other alternatives that ensure the smooth application process and fair access to loans, away from complications and intermediaries.

Last October, Finance Minister Falih Sari directed the management of Al-Rafidain Bank to release financial loans for employees and facilitate the procedures for obtaining them, with a focus on shortening the time required to complete transactions and simplifying the application steps.

An informed source revealed earlier that Rafidain Bank has launched loans for employees and retirees in amounts of 5 million and 10 million dinars, with an annual interest rate of 6%, to be repaid over five years.

The source explained in an interview with Shafaq News Agency that applications for loans are available electronically through the “Super Key” application, as part of the move towards enhancing digital banking services and simplifying procedures for employees and retirees, enabling them to submit their applications without needing to visit bank branches.

He pointed out that this step comes within the efforts of Al-Rafidain Bank to develop its banking services and expand the scope of electronic services provided to citizens, which contributes to facilitating access to financial services and reducing bureaucratic procedures.

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International Monetary Fund: We are preparing to lend to Iraq

The International Monetary Fund announced on Thursday that it is preparing a new lending program for Iraq, whose economy has been severely damaged by the repercussions of the war with Iran, after beginning talks with authorities in Baghdad.

“Our plan now is to engage with the authorities to better understand their priorities, how to address their vulnerabilities, and then move forward to determine the best ways we can support them through a financing program,” said IMF spokeswoman Julie Kozak during a press conference in Washington.

Kozak noted that Iraq was already suffering from severe financial constraints before the outbreak of the war, adding that the limited non-oil revenue base is putting pressure on the state’s finances.

The Managing Director of the International Monetary Fund, Kristalina Georgieva, revealed during the Fund’s annual meetings in Bangkok earlier this month that Iraq had requested a new support program.

During those meetings, Georgieva praised the resilience of global economic growth despite the wars in Iran and Ukraine, but warned that the effects of conflicts vary greatly, with the most fragile economies suffering severe damage.

Since the outbreak of war in the Middle East on February 28, 2016, with US and Israeli strikes on Iran, Tehran has almost completely restricted maritime traffic through the Strait of Hormuz, insisting that ships must pass through it via a designated route and sometimes targeting those attempting to pass without its coordination. In response, Washington has imposed a blockade on Iranian ports.

The Iraqi economy is heavily dependent on energy exports, most of which pass through this strait.

Iraq was facing severe financial pressures even before the outbreak of war, and the International Monetary Fund predicted this month that its economy would shrink by 16% this year.

Iraq’s last program with the International Monetary Fund ended in 2019, and it entails interest payments to the international institution amounting to about $428 million until 2030.

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The central bank denies printing new currency and announces that the exchange rate gap has narrowed to 9%.

Central Bank Governor Nizar Nasser Hussein confirmed on Thursday that talk of printing new currency is inaccurate, noting that the difference between the official exchange rate and the parallel market rate has decreased from 24% previously to 9% currently.

The media office of the House of Representatives stated in a statement that the Parliamentary Investment and Development Committee, headed by the oldest member, MP Nahida Al-Daini, conducted a visit to the Central Bank of Iraq to discuss the repercussions of the change in the dollar exchange rate and its impact on the economic and investment reality, and the challenges facing investors and local companies.

The statement added that during the visit, the committee was briefed on the measures taken by the Central Bank to support the Iraqi economy, including supporting government and private banks to provide soft loans to citizens ranging in value between 5 million and 15 million dinars.

The statement quoted the Central Bank Governor as confirming “that there is no printing of currency,” explaining that the talk circulating about printing banknotes is inaccurate. He also pointed out that the difference between the official exchange rate and the parallel market rate has decreased from 24% to 9%.

For its part, the parliamentary committee stressed the need to reduce the effects of the exchange rate on the costs of implementing investment projects, the prices of raw materials and contractual obligations, as well as its repercussions on market stability and the purchasing power of citizens, calling for well-thought-out solutions that balance the requirements of monetary stability and the protection of economic and investment activity.

The committee stressed the importance of strengthening coordination between the Central Bank, government agencies and the banking sector, removing obstacles facing investors and facilitating banking financing procedures, in order to ensure the continuity of investment projects and not burden investors and citizens with additional burdens.

She explained that the stability of monetary policy and the clarity of banking procedures are a fundamental pillar for creating an attractive investment environment, stressing the continued monitoring of priority economic files and the pursuit of practical recommendations that contribute to supporting investment, protecting citizens’ interests and strengthening the national economy.

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Officially, the Iraqi parliament postpones its session, and the blocs are moving towards resolving the committees in a “single package”.

On Thursday, Ali Al-Azirjawi, a member of the State of Law Coalition, stated that the parliamentary blocs had requested the Iraqi Parliament’s leadership to postpone the session for two weeks in order to reach an understanding on the chairmanship of the parliamentary committees, stressing that there were political differences hindering their approval individually.

Al-Azirjawi told Shafaq News Agency that the heads of the blocs informed the Speaker of Parliament not to proceed with selecting the heads of some committees and to postpone other committees until further notice.

He added, “Currently, there is no agreement among the heads of the blocs to decide on the permanent parliamentary committees individually,” noting that “everyone wants the committees to be decided and voted on as a single package.”

Al-Azirjawi continued, saying that the parliamentary blocs informed the council presidency of the postponement of today’s session to the next two weeks until all parliamentary committees have finalized their decisions and voted on them as a whole in one package.

For its part, the media department of the House of Representatives announced in a brief statement the postponement of its session until further notice.

On Thursday, the parliamentary blocs in the Iraqi House of Representatives submitted the names of candidates for the chairmanship of 16 parliamentary committees, along with their deputies, while four other committees are still awaiting the finalization of their candidates. Iraqeconomic update

An official document obtained by Shafaq News Agency showed the distribution of the heads of the standing committees and their deputies for the sixth parliamentary session, where the candidates for the main committees, including Finance, Legal, Integrity and Oil, were decided, while the document showed the vacancies of the four remaining

This comes in conjunction with what a parliamentary source revealed earlier today, about a preliminary agreement on naming the heads of 15 parliamentary committees out of 20 permanent committees, while the leadership of five committees, including finance, oil and integrity, remains a point of contention between the political blocs.

The source told Shafaq News Agency that the Speaker of Parliament moved towards the political blocs and held more than one meeting to resolve the issue of the heads of the parliamentary committees, indicating that the understandings included reducing the number of standing committees to 20 committees, by merging some committees and creating another committee, adding that the committees whose leadership has not been agreed upon are Finance, Oil, Integrity, Security and Defense and Electricity.

On Wednesday, Firas Al-Muslawi, a member of the Reconstruction and Development Coalition, revealed that the House of Representatives session scheduled for Thursday would include voting on the distribution of committees among the parliamentary blocs, including the heads of some committees, their rapporteurs, and their deputy heads, predicting that the proposed names would be passed with a high percentage, pending the completion of understandings regarding the deputies of some of the heads.

The House of Representatives voted on February 17, 2026, to amend its internal regulations and establish 22 permanent parliamentary committees, including a unified committee for culture, media, tourism and antiquities. Then, on March 11, it voted on the members of 11 committees, while the completion of the distribution of leadership positions remained linked to understandings between the political blocs.

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At a cost of 1.4 trillion dinars, the establishment of the “Basra Homeland City” residential project has been announced.

The National Investment Commission in Iraq announced on Wednesday evening that it had granted an investment license for the “Basra Homeland Residential City” project, with a total investment cost exceeding 1.4 trillion Iraqi dinars. Iraqeconomic update

The authority explained in a statement received by Shafaq News Agency that the project is located in Basra Governorate, and will be implemented in five consecutive phases by the same investing company, ensuring the highest standards of quality, modern urban planning and integrated services.

She affirmed the continuation of providing all necessary facilities and support for strategic investment projects that have a direct impact on the lives of citizens, especially residential complexes and cities that contribute to developing the infrastructure and supporting the wheel of economic development in the country.

She pointed out that granting this license comes within the framework of the Prime Minister’s initiative to provide one million serviced residential plots in all Iraqi governorates, which is consistent with the government program calling for the expansion of the establishment of modern and sustainable cities in the governorates.

This will be achieved, according to the statement, by creating new urban models that contribute to addressing the housing crisis, accommodating the increasing population growth, in addition to attracting national and foreign capital and providing thousands of job opportunities for young people and local technical and engineering personnel.

On October 10, Prime Minister Ali Faleh al-Zaidi laid the foundation stone for the project of one million residential plots (Homeland Initiative) in the governorates of Karbala and Najaf.

The “Homeland Initiative” is a large-scale governmental and service program aimed at addressing the housing crisis and distributing one million residential plots of land throughout Iraq.

Official estimates indicate that between 3 and more than 9 million people live in informal settlements, while the Ministry of Planning confirms the existence of about 104,000 completely informal housing units housing between 500,000 and 600,000 people, revealing a housing gap that goes beyond traditional figures and puts the country before a complex developmental test.

The Prime Minister’s Media Office had previously confirmed to Shafaq News Agency that the residential land plots within the “Homeland” initiative would be completely free, and would include all Iraqi families whose members do not own a housing unit or property.

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Al-Mandalawi and Zebari emphasize coordinating efforts to address outstanding issues between Baghdad and Erbil

Deputy Prime Minister for Energy Affairs, Mohsen Al-Mandalawi, and member of the Political Bureau and head of the Kurdistan Democratic Party’s command center in Baghdad, Hoshyar Zebari, affirmed on Wednesday evening the coordination of efforts to address outstanding issues between the federal government and the Kurdistan Region.

This came during Al-Mandalawi’s reception of a delegation from the Kurdistan Democratic Party headed by Zebari in the capital, Baghdad, according to a statement from Al-Mandalawi’s media office received by Shafaq News Agency.

According to the statement, both sides stressed the importance of coordinating efforts among the various political parties to overcome the current challenges and find the necessary solutions for all outstanding issues between the federal government and the Kurdistan Region, in accordance with the approved constitutional frameworks, in a way that enhances political stability and serves the national interest.

In turn, the delegation congratulated Al-Mandalawi on assuming the position of Deputy Prime Minister for Energy Affairs, stressing the Kurdistan Region’s support for the government of Prime Minister Ali Faleh Al-Zaidi and its actions at the local, Arab and regional levels, which contribute to strengthening the country’s stability and enhancing its sovereignty and international standing.

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Employees and retirees complain about the mechanism for granting loans from Al-Rafidain Bank and demand disclosure of the application criteria.

On Thursday, a number of employees and retirees expressed their dissatisfaction with the mechanism for granting financial loans through the electronic application approved by Al-Rafidain Bank, noting that the application witnesses a great surge as soon as the application is opened, before it stops receiving applications within five minutes or less, which limits the beneficiaries’ chances of completing the application procedures and obtaining the loan. ReadDaily News

Employees and retirees told Shafaq News Agency that the short application period and the limited number of applications that the application can accommodate raise questions about the criteria for providing loans and the mechanism for selecting beneficiaries.

They called for the adoption of clearer and fairer procedures that would ensure equal opportunities for employees and retirees.

In a related context, informed sources revealed suspicions regarding the exploitation by some parties outside the bank of citizens’ need for loans, by facilitating access to them in exchange for sums of money, as well as allegations of understandings between some bank employees and external parties to achieve financial benefits.

These claims still need to be verified by the relevant regulatory authorities.

The sources raised questions about the nature of the relationship between Rafidain Bank and those entities, particularly regarding the distribution of roles and responsibilities in receiving applications, the extent of the bank’s supervision of the application procedures and granting of loans, as well as the fees and commissions resulting from the related financial transactions.

She demanded clarification of the entity responsible for managing the application process and identifying beneficiaries, and an announcement of the criteria adopted in choosing between them, stressing the need to subject all procedures to auditing and oversight to prevent any illegal practices or exploitation of citizens’ need for loans.

Regarding the announced numbers of loans, the sources raised questions about the statements circulating about the possibility of granting about 100,000 loans, demanding clarification of the size of the available financial allocations and their funding sources, the timetable for distribution, and the entity responsible for auditing applications and following up on their implementation.

She stressed the importance of addressing the technical problems facing the application and expanding its capacity to accommodate requests, in order to ensure that no applicant is given an advantage over others, in addition to publishing details of fees and commissions, the mechanism for calculating them, and the entities benefiting from them.

An informed source told Shafaq News Agency on October 23 that Rafidain Bank had launched loans for employees and retirees in amounts of 5 million and 10 million dinars, with an annual interest rate of 6%, to be repaid over five years.

The source explained that applications for loans are available electronically through the “Super Key” application, as part of the move towards enhancing digital banking services and simplifying procedures for employees and retirees, enabling them to submit their applications without needing to visit bank branches.

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Baghdad leads the way… 4.8 million fiber optic internet lines and 41.9 million mobile subscribers in Iraq

The total capacity of the Fiber to the Home (FTTH) network in Iraq recorded an increase during 2025, coinciding with the continued growth of communications and internet services, while the number of post offices maintained the same level as in the previous year.

According to the 2025 Communications and Postal Statistics Report issued by the Directorate of Transport and Communications Statistics, the total capacity of the optical access network reached 4.8574 million lines, compared to 3.4396 million lines in 2024, an increase of 41.2%.

The data showed that Baghdad Governorate recorded the highest telephone density for the fiber optic access network, at 21.2 per 100 people, followed by Kirkuk Governorate at 18.1%, then Maysan at 14.5%, while the telephone density for the network at the level of Iraq, excluding the Kurdistan Region, reached 12.3 per 100 people. Iraqeconomic update

In the telecommunications sector, the number of subscribers to mobile phone lines for companies operating in Iraq, including the Kurdistan Region, excluding Korek, reached 41.9 million subscribers during 2025, while the telephone density for these lines reached 90.8 per 100 people.

The number of subscribers to mobile internet service for companies operating in Iraq, excluding Korek, reached 24 million, while the number of actual subscribers to wireless telephone lines belonging to the General Company for Communications and Informatics (Al Nakheel Company) reached 526,000 subscribers.

In the postal sector, the number of post offices in Iraq reached 277 during the year 2025, which is the same number recorded in 2024.

The total number of international postal parcels reached 9,578 parcels, of which 7,274 were incoming parcels and 2,304 were outgoing parcels.

The number of depositors in savings funds in Iraq decreased to 72,000 depositors during 2025, compared to 81,000 depositors in 2024, a decrease of 11.1%.

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