Mazhar Saleh: Iraq’s foreign reserves provide exceptional stability for the national currency.

Iraqi dinar-DollarThe Prime Minister’s financial advisor, Mazhar Mohammed Salih, confirmed on Friday that the Central Bank of Iraq enjoys substantial foreign reserves that represent the primary backing for the national currency. These reserves are managed within a diversified foreign currency investment portfolio in accordance with the highest standards of global banking efficiency and professionalism.
Saleh added in an interview with Al Furat News Agency that “the ability of these reserves to meet external demand for foreign currency for the purposes of financing import trade is one of the primary indicators of their efficiency,” noting that “the global standard for financing trade from central bank reserves is three months’ coverage, while Iraq has an exceptional capacity of up to twelve months.”

He pointed out that “this level reflects a high degree of stability in the foreign exchange market, despite the temporary pressures on the current account of the balance of payments due to the relative contraction in oil prices,” noting that oil revenues continue to constitute the main pillar in the formation and accumulation of these strategic reserves.

Saleh explained that “the Central Bank largely controls the foreign exchange market by imposing an official exchange rate of 1,320 dinars per dollar for the dinar. This has contributed to keeping the annual inflation rate below 3%, which falls within what is known as the normal range for the general price level or the natural price break-up in the country.” He emphasized that this represents the highest levels of stability targeted by Iraqi monetary policy.

Alforatnews.iq

New currency in Syria

Intends Syria It issued new banknotes and removed two zeros from its currency in an attempt to restore confidence in the lira, which had fallen sharply in value, according to Reuters.
The move aims to bolster the Syrian pound after its purchasing power collapsed to unprecedented levels following a 14-year conflict that ended with the ouster of President Bashar al-Assad. Bashar al-Assad Last December.

The Syrian pound has lost more than 99% of its value since the outbreak of the war in 2011. The current exchange rate is around 10,000 pounds to the dollar, compared to 50 pounds before the war.
The sharp decline in the currency’s value has made daily transactions and money transfers increasingly difficult.

Alsumaria.tv

The Trump administration intends to vet the files of 55 million foreigners in the United States.

The Trump administration intends to scrutinize the legal visas of the 55 million foreign nationals residing in the United States to determine whether they have committed violations or pose a security threat.

According to the Washington Post, this represents a significant expansion of current efforts to curb allegations of immigration violations, criminal activity, threats to public safety, or support for a terrorist organization.

In an emailed statement, the US State Department said that “ongoing vetting” will allow it to revoke visas when evidence of potential ineligibility is detected.

“We review all available information as part of the vetting process, including law enforcement or immigration records or any other information that comes to light after visas are issued,” the statement read.

The newspaper explained that “the Trump administration oversaw a strict immigration crackdown that initially focused on illegal immigration to the United States, but expanded to include reviews of legal immigration, such as those traveling to the country on tourist, work, or student visas.”

She indicated that the Department of State issued nearly 11 million temporary visas, not including permanent residency or “green cards,” during fiscal year 2024.

The vast majority of these visas, 77%, were issued for business or tourism purposes, while approximately 7% were issued to visiting students or academics and their families.

While officials noted that the process of re-examining those already holding visas, which could take years in some cases, is likely to be time-consuming and logistically complex, the State Department has taken new measures, including reviewing social media accounts for “hostility toward the United States and anti-Semitism.”

In this context, a senior State Department official, who requested anonymity to inform the media, said, “We are collecting more information than ever before.”

While the official acknowledged that examining social media accounts would likely add more time to the review process, he also said, “Time is not my concern, but the safety of Americans is.”

The newspaper noted that this news has raised concerns among some immigration experts, who said that visa holders are already subject to heightened scrutiny when new information emerges, including interactions with US law enforcement agencies, such as arrests or convictions.

David J. Baer, ​​director of immigration policy at the Cato Institute, a liberal think tank based in Washington, D.C., said it appears the administration wants to “proactively review social media posts and revoke visas based on expression, not behavior.”

“I doubt this will apply to everyone, but I suspect these reviews will be conducted in a discriminatory manner, targeting migrants from certain backgrounds, certain visa categories, or specific people who want a pretext to cancel their visas,” Beer added.

The newspaper noted that foreign students have become a focus of attention for the US administration, which announced earlier this week the revocation of more than 6,000 student visas due to overstaying and other legal violations, including approximately 200 to 300 visas for what it described as “terrorism.”

In addition, the administration sought to revoke visas and deport individuals who participated in university protests against the war on Gaza.

For his part, the senior State Department official declined to disclose the number of student visas revoked in connection with university protest activities.

“There are thousands of people with visas in the United States who exercised their freedom of expression, and they are not the ones whose visas we revoked,” he said.

Shafaq.com

The Iraqi Presidency, UNAMI, and the US Embassy condemn the events in Sulaymaniyah.

The Iraqi Presidency, UNAMI, and the US Embassy condemned the bloody events in Sulaymaniyah on Friday, expressing their regret for the deaths and injuries sustained during the clashes.

The Presidency of the Republic said in a statement received by the agency that it is following with concern the events taking place in the city of Sulaymaniyah, which resulted in “the killing of members of the city’s security forces and the injury of others.”

The presidency stressed “the need for self-restraint and adherence to legal and judicial procedures in accordance with the constitution, avoiding violence, and in a manner that consolidates the principles of justice and preserves the security and stability of citizens.”

For its part, the United Nations Assistance Mission for Iraq (UNAMI) stated in a statement received by Shafaq News Agency that it expresses “concern over the ongoing developments in Sulaymaniyah Governorate and regrets the deaths and injuries resulting from the recent clashes.”

According to the statement, the mission called on all parties to exercise restraint, “refrain from any actions that could endanger the lives of civilians, respect human rights, and ensure fair and just judicial procedures that are consistent with the provisions of the constitution.”

In a statement received by Shafaq News Agency, the US Embassy in Iraq expressed its concern over the ongoing developments in Sulaymaniyah Governorate and its regret for the deaths and injuries resulting from the recent clashes.

The embassy called on all parties to “exercise restraint, refrain from any actions that could endanger the lives of civilians, respect human rights, and ensure fair and just judicial proceedings consistent with the provisions of the constitution.”

Late Thursday night, security forces clashed with members of the security forces protecting the leader of the People’s Front, Lahur Sheikh Jangi, in the city of Sulaymaniyah, following a court order for his arrest.

On Friday morning, media outlets close to the Patriotic Union of Kurdistan (PUK) reported that three people were killed and ten others were injured in armed clashes.

The events culminated in the arrest of the leader of the People’s Front Party, Lahur Sheikh Jangi, and his brothers, Polad and Aso, for whom arrest warrants were issued. This followed a raid on the party’s headquarters, the Lalzar Hotel, located in the Sarchinar neighborhood in central Sulaymaniyah.

It’s worth noting that Sheikh Jangi served as co-chair of the Patriotic Union of Kurdistan (PUK) before being dismissed by Bafel Talabani in July 2021 following sharp disagreements within the party. He subsequently founded the People’s Front party, which participated for the first time in the 2024 Kurdistan parliamentary elections, winning two seats.

Shafaq.com

Exclusive: The last US soldier will leave Ain al-Asad base in mid-September.

An Iraqi security source revealed on Tuesday that the last US soldier will leave Ain al-Asad base in Anbar province, western Iraq, in mid-September, after which the international coalition headquarters at the base will be permanently closed.

The source told Shafaq News Agency that the Ain al-Assad base is scheduled to be permanently closed on September 15, explaining that US forces stationed in western Iraq will move to bases inside Syrian territory, while those in the capital, Baghdad, will move to alternative bases in Erbil in the Kurdistan Region.

The source added that a limited number of American personnel and leaders will remain within the joint forces in Baghdad as needed.

On Monday, the first phase of the withdrawal of US forces from the country to Syrian territory began.

An Iraqi security source told Shafaq News Agency that a US convoy, including trucks carrying military vehicles, had begun moving out of Ain al-Assad base.

Ain al-Asad Air Base is the second largest air base in Iraq after Balad Air Base. It is the headquarters of the US Army’s 7th Division and is located 10 kilometers from the Baghdadiyah district in Anbar Governorate.

Earlier, a spokesperson for the US Embassy in Baghdad revealed that a “civilian” partnership between the international coalition and Iraq was close to being signed, coinciding with the planned “military” withdrawal by next September.

The spokesman said in a statement to the agency that the Global Coalition to Defeat ISIS (Operation Inherent Resolve) will transition from its military mission in Iraq to a more traditional bilateral security partnership, stressing the continuation of the coalition’s civilian-led efforts at the global level.

He emphasized that this shift does not mean the end of the international coalition’s work to defeat ISIS, but rather comes as part of a transition plan to enhance stability in Iraq through security partnerships and ongoing civilian cooperation.

A government source told Shafaq News Agency that Iraq has agreed with the international coalition countries, primarily the United States, on a timetable for ending the coalition’s mission. The timetable stipulates ending its presence with the central government in September 2025, leading to a full withdrawal in September 2026, with the number of its forces gradually reduced to less than 500 personnel, whose presence will be limited to Erbil, while the rest will be transferred to Kuwait.

Shafaq.com

Turkish company signs deal to supply electricity to Iraq

Turkish floating power plant operator Karpowership announced on Wednesday that it has signed a deal to supply Iraq with up to 590 megawatts of electricity to stabilize the country’s national grid.

Two floating power generation units are scheduled to dock at the Khor al-Zubair and Umm Qasr ports in Basra. They are expected to begin operating within a month, according to Reuters.

The company said in a statement that the initial contract, signed with the Iraqi Ministry of Electricity and the General Company for Electricity Production, extends for 71 days.

Shafaq.com

Chevron returns to Iraq

As part of ongoing efforts to develop the oil industry and attract major international companies, Iraq signed a memorandum of understanding (MoU) with US oil giant Chevron on Tuesday.

Prime Minister Mohammed Shia al-Sudani sponsored the signing ceremony of the agreement between the Ministry of Oil and Chevron, which includes the Nasiriyah project, consisting of four exploration blocks, the development of the Balad oil field, and any other producing oil fields and exploration blocks.

During his meeting with the company’s Vice President, Frank Mount, and his accompanying delegation, Al-Sudani welcomed Chevron’s return to Iraq, noting that the government has adopted a different approach to dealing with major companies, particularly American ones. He also praised the company’s contributions to oil technology transfer, community initiatives, and sound environmental policies in oil projects.

The Prime Minister emphasized that the relationship with the United States is strategic, and that the government is working to develop the oil sector in the areas of production, refining, and investment in associated and natural gas, using the latest technology.

During a meeting, the Coordination Framework commended the government’s policy of opening up to major global energy companies and concluding important agreements as part of diversifying energy export sources.

Earlier on Tuesday, the Ministry of Planning confirmed that the Kurdistan Region had met all the conditions and requirements necessary to commence oil production and export through the State Oil Marketing Organization (SOMO), a step described as significant progress in resolving outstanding issues between the federal government and the regional government.

A statement issued by the ministry stated that Deputy Prime Minister and Minister of Planning, Mohammed Ali Tamim, chaired an expanded joint meeting that included high-level representatives from both sides, including ministers, undersecretaries, and general managers.

The statement explained that the meeting reviewed the overall progress made in the joint files, foremost among which is the oil production and export file, the non-oil revenues file, in addition to the file of localizing the salaries of the region’s employees based on the Federal Court’s decision in this regard.

The matter.

In a later development, the Council of Ministers decided, in its session yesterday, Tuesday, to initially approve the renewal of the decision to finance the salaries of Kurdistan Region employees for the month of June, after taking into account three…conditions.

Alsabaah.iq

Central Bank: We cover almost all currencies used by Iraq for trade purposes.

Iraqi Dinar Central Bank Governor Ali Al-Alaq confirmed on Wednesday that nearly all major currencies are covered, noting that the central bank is conducting foreign exchange transactions in all currencies smoothly and with high fluidity.
Al-Alaq said in a press statement, “The foreign transfer process has witnessed significant development over the past two years, both in terms of method, approach, and organization, as well as through direct communication and direct transfers between Iraqi banks and approved correspondent banks.”

He added, “This expansion is not only in the number of correspondent or transfer banks, but also in the number of currencies,” noting that “the Central Bank covers almost all the currencies used by Iraq for large-scale trade.”

He stressed that “the Central Bank is currently conducting transfers in almost all major currencies, and they are proceeding smoothly and with high fluidity.”

Alforatnews.iq

Al-Sudani directs the formation of a joint team to improve Iraq’s sovereign credit rating.

President’s face policy Cabinet of Ministers Mohammed Shia al-Sudani Today, Wednesday, a joint national team was formed, headed by the governor. Central Bank of Iraq To improve Iraq’s sovereign credit rating.

He said Media Office To the Prime Minister in a statement received by Alsumaria News It is “in line with the government’s directives aimed at enhancing the status of Iraq Financial and economic at the international level, directed Sudanese By forming a joint national team, headed by the governor Central Bank of Iraq…and membership of representatives from ministries (Finance, Oil, and Planning) and specialized economic and financial institutions, in addition to…Prime Minister’s Office The Securities Commission and representatives of the Iraqi banking sector.

The office added, “This National team The team will work to develop an integrated strategy that includes clear and measurable objectives, submit periodic reports to the relevant authorities, and coordinate directly with major international credit rating agencies, particularly Fitch, S&P, and Moody’s, with the aim of improving Iraq’s sovereign credit rating. The team will also pay special attention to strengthening governance tools, managing financial risks, and developing the business environment in line with the government’s economic reform plans.

The office continued, “This directive comes within the framework of the government’s vision to adopt a comprehensive national strategy aimed at improving Iraq’s sovereign credit rating, which will contribute to enhancing international confidence in the national economy and opening broader horizons for direct and indirect foreign investment. The government affirms that this step represents a clear commitment to its reform approach and its commitment to achieving economic stability, supporting the stability of the financial system, and providing an attractive investment environment that contributes to diversifying sources of income and reducing dependence on oil as the sole primary resource.”

Alsumaria.tv

Kurdistan Regional Government: 120 billion dinars in non-oil revenues are ready to be delivered to Baghdad.

Kurdistan Regional Government (KRG) spokesperson Peshwa Hawrami confirmed on Wednesday that the agreed-upon amount of non-oil revenues is ready for delivery to the federal government in Baghdad.

“A crucial meeting is currently underway between a delegation from the Kurdistan Regional Government and the federal government in Baghdad, and there is a serious discussion about non-oil financial revenues,” Hawrami said at a press conference during his visit to Halabja province following the fire.

He added, “We have 120 billion dinars ready for delivery.”

On Tuesday, the Special Representative of the Secretary-General of the United Nations in Iraq, Mohammed Hassan, expressed optimism about the possibility of the Kurdistan Regional Government and the federal government reaching an understanding that would resolve the outstanding disputes and issues between the two sides.

In a statement to reporters following his participation in a memorial service for the victims of the 2003 bombing of the UN headquarters in Baghdad, he said, “There is good cooperation between the Kurdistan Region and Baghdad,” stressing that he has good relations with the Iraqi presidency and the region.

He added that he “listened to the regional presidency’s constant emphasis on preserving Iraq and implementing and consolidating the constitution in all its provisions.” He added that he was optimistic that Erbil and Baghdad would reach a good understanding formula to resolve their differences, and that there was an opportunity to achieve that understanding between them.

On Wednesday, August 13, the Kurdistan Regional Government’s Ministry of Natural Resources announced that it had reached an agreement with the Iraqi Ministry of Oil regarding a mechanism for resuming oil exports.

The ministry said in a statement received by Shafaq News Agency, “According to the text approved by a joint delegation of 23 figures, including 17 members of the Iraqi Oil Ministry delegation, the meetings began on July 17, and included comprehensive field visits to all oil fields in the region. After evaluating technical problems and conducting extensive dialogues, an agreement was reached on August 11 on the mechanism for exporting oil from the region’s fields, whereby 50,000 barrels of daily production would be allocated to meet the region’s local needs, while the remainder would be handed over to the State Oil Marketing Organization (SOMO) for export purposes.”

She explained that “resuming the export of Kurdistan Region’s oil requires the federal government to hold talks with the Turkish government to ensure the implementation of the agreement.”

The ministry’s statement confirms information obtained by Shafaq News Agency earlier today, Wednesday, which confirmed that the Ministry of Natural Resources in the Kurdistan Regional Government (KRG) had agreed with the Iraqi Ministry of Oil to resume exports of the region’s crude oil under a special mechanism.

According to information, the agreement stipulates that the export process will be conducted in accordance with the daily production of the fields, with 50,000 barrels allocated to meet the region’s internal needs, while the remaining quantities will be delivered to the state-owned oil company SOMO, affiliated with the federal government.

The information also indicated that the draft agreement was signed by a delegation from the federal Ministry of Oil and a delegation from the region’s Ministry of Natural Resources, confirming that the federal delegation has returned to Baghdad.

According to the same information, the start of exports requires negotiations between the federal and Turkish governments before the process can be implemented.

An informed source revealed to Shafaq News Agency last month the details of the agreement between Baghdad and Erbil regarding the resumption of Kurdistan’s oil exports. He confirmed that the agreement stipulated that the Kurdistan Regional Government would receive 240 billion dinars in revenues for May and June, at a rate of 120 billion dinars per month, in addition to delivering 230,000 barrels of oil per day to Baghdad, in exchange for the latter sending the salaries of the region’s employees for those two months.

The roots of this crisis between the federal government in Baghdad and the Kurdistan Regional Government (KRG) lie in ongoing disagreements over oil export mechanisms and the unification of public revenues. This is a long-standing crisis that resurfaces from time to time, but it has worsened significantly since May 2025, when the federal government refused to send salaries to the region’s employees.

Shafaq.com