Iraq signs agreement to join digital trading platform with Abu Dhabi
In a strategic move to develop financial infrastructure and enhance regional cooperation, the Iraq Stock Exchange and the Iraqi Securities Commission signed a memorandum of understanding with the Abu Dhabi Securities Exchange (ADX) on Wednesday to join the exchange’s digital trading platform. The announcement came in a statement issued by the Iraq Stock Exchange, which stated that the memorandum represents an important step toward strengthening cooperation between the capital markets in Iraq and the United Arab Emirates.
The signing took place at the headquarters of the Abu Dhabi Securities Exchange (ADX). Joining the exchange platform represents a major step in strengthening the joint cooperation announced in January 2025 between the Iraqi Securities Commission and the ADX.
The agreement aims to enhance cooperation between the two sides in several areas, including technology, innovation, trading system development, and the exchange of best practices in post-trade trading. This platform also allows brokerage firms in both markets to access other markets remotely, enhancing interconnectivity between markets and facilitating cross-border investment opportunities. This enables Iraqi investors to access regional and global investment opportunities.
Joining the exchange platform also allows investors in member markets to participate in initial public offerings between markets, expanding investment horizons and providing new opportunities for investors in both Iraq and the UAE.
Through this cooperation, the Iraqi market is expected to witness an improvement in its activity and increase investors’ access to a variety of investment opportunities in companies listed on member markets.
In a statement, Chairman of the Iraqi Securities Commission, Faisal Al-Haimus, praised the move, saying, “The Iraqi market’s accession to the Tabadul platform represents a qualitative shift in the development of Iraq’s financial market infrastructure and will contribute to strengthening regional partnerships and economic integration with Arab financial markets.”
For her part, the CEO of the Iraq Stock Exchange, Jimmy Afham Toma, expressed her pride in the exchange’s joining the exchange platform, considering this step a significant step toward strengthening the Iraqi market and linking it to regional markets.
Commenting on the MoU, Abdullah Salem Al Nuaimi, CEO of the Abu Dhabi Securities Exchange Group, said: “This MoU is a milestone in the history of cooperation between the Abu Dhabi Securities Exchange and the Iraqi Stock Exchange, as it will contribute to increasing activity in the Iraqi market and providing broader investment opportunities for investors.”
Al Nuaimi added that the exchange platform provides access to more than 7.5 million investors across its member markets, which currently include more than 490 listed companies. He noted that trading activity between member markets witnessed a significant increase in 2025 compared to the previous year.
This also contributes to enhancing liquidity, providing innovative trading solutions, and supporting the integration of financial markets at the regional and international levels.
Kurdistan transfers more than 48 billion dinars of its non-oil revenues to Baghdad.
The Ministry of Finance and Economy in the Kurdistan Region announced on Tuesday that the federal treasury’s share of non-oil revenues for March of this year has been transferred to the federal Ministry of Finance’s account.
The ministry stated in a statement received by Shafaq News Agency, “The transferred amount amounted to 48 billion, 205 million, and 765 thousand Iraqi dinars, and it was deposited in cash into the Federal Ministry of Finance’s bank account at the Erbil branch of the Central Bank of Iraq.”
The Kurdistan Regional Government’s Ministry of Finance and Economy previously transferred approximately 52 billion dinars in non-oil revenues to the federal treasury in Baghdad in February.
Rafidain Bank: Mastercard and Visa cards operate normally inside and outside Iraq.
Rafidain Bank denied on Monday reports of a suspension of payment cards, confirming that its MasterCard and Visa cards are operating normally inside and outside Iraq. A statement from the bank read, “Rafidain Bank denies reports of a suspension of payment cards.”
He confirmed that “MasterCard and Visa cards issued by the bank are operating normally inside and outside Iraq, and that no decision has been issued by MasterCard or the relevant authorities regarding their suspension.”
The bank called on citizens to ignore rumours and rely on news from official sources.
Rafidain Bank announces the third issuance of national investment bonds.
Rafidain Bank announced, on Monday, the third issue of national investment bonds.
The bank stated in a statement received by {Euphrates News} a copy of it, that: “It offers citizens and investors a distinctive investment opportunity through the third issue of national bonds, offered for subscription starting from April 20, 2025 until May 20, 2025, within two categories that achieve fixed and rewarding returns:
1. Investment bond worth (500,000) five hundred thousand dinars
– annual return: 8%
– investment period: two years
– interest payment: every six months
2. Investment bond worth (1,000,000) one million dinars
– annual return: 10%
– investment period: four years
– interest payment: every six months
The bank called on people to “seize this lucrative investment opportunity by heading to the nearest Rafidain Bank branch in Baghdad and the governorates to submit a purchase request and benefit from the advantages of this issue.”
Government Advisor: Development Indicators Place Iraq on the Threshold of a New Economic Era
The Prime Minister’s Advisor for Financial Affairs, Mudhar Mohammed Salih, confirmed on Wednesday that development indicators place Iraq on the threshold of a new economic era, noting that the gross domestic product (GDP) is pushing Iraq toward sustainable development faster than expected.
“Iraq’s position as the third-largest economic power in West Asia among Arab countries in terms of GDP, after Saudi Arabia and the UAE, is an indicator that extends in two directions. The first is the accelerated ability to achieve significant progress in development, confirming the unprecedented speed and development of our country in imposing the significant economic and political stability that Iraq has achieved.”
He added, “The second relates to the GDP, and it also confirms, on the domestic level, that our country is an effective economic force in attracting investment opportunities in development fields. The great stability provided by the environment in recent years has helped support sustainable development at a faster pace than expected.”
He continued: “The urban renaissance and the launch of infrastructure and service programs are among the most important activities in the government’s policy and economic program. Their success has not stopped, as they have proven to be successful in accelerating progress, so that our country can assume its geo-economic position as a promising path, indicated by high rates of economic growth.”
Oil prices continue to rise, over $68 per barrel
Global oil prices recorded a significant increase in global markets on Tuesday driven by improved investor sentiment and reduced concerns about weak demand, over $68 per barrel.
The price of Brent crude for June 2025 delivery rose to $68.08 per barrel, a 3.60% increase compared to the previous closing price, within a daily range of $66.54 to $68.04.
The price of West Texas Intermediate (WTI) crude also rose to $64.29 per barrel, an increase of $1.88, or 3.01%, within a daily range of $62.74 to $63.56, and an annual range of $55.12 to $84.20.
This improvement in prices follows a sharp decline in previous sessions. Estimates indicated that optimism about a global economic recovery has supported oil markets, amid continued cautious monitoring of supply and demand developments.
