Clare: Withdraw leave
September 03, 2025
The Central Bank of Iraq decided to withdraw the license of Al-Balsam Company for brokering the sale and purchase of foreign currencies due to its violation of the controls regulating the work of exchange companies and brokering the sale and purchase of foreign currencies No. (1) of 2022. For more, click here.
Clare: The Central Bank launches new services via electronic wallets.
The Central Bank of Iraq announces the launch of reciprocal money transfer services via e-wallets, enabling individuals and business owners to conduct their financial transactions with greater speed and flexibility.
These services include:
Exchange money transfers between validated, permanent wallets of various service providers.
Reciprocal money transfers from permanent verified wallets to merchant wallets of various providers during purchases.
The launch of this step represents a qualitative shift in the path to enhancing financial inclusion, supporting digital transformation efforts, facilitating the movement of funds, supporting the business sector, and expanding the use of financial technologies in Iraq.
Central Bank of Iraq
Media Office
September 3, 2025
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Clare: Economist: Iraq enjoys financial stability thanks to the Central Bank’s reserves.
9/3/2025 – Baghdad
Economic advisor, Mazhar Mohammed Saleh, confirmed on Wednesday that financial stability in Iraq is solid, and no worrying indicators have emerged so far, despite the external challenges and geopolitical shocks witnessed worldwide.
Saleh said, “Financial concerns are mainly due to the repercussions of external shocks such as trade wars and fluctuations in energy prices, but Iraq has proven its resilience thanks to the Central Bank’s foreign currency reserves.”
He added, “Monetary policy plays a pivotal role in stimulating the domestic financing market and supporting public liquidity, ensuring the implementation of government development programs and infrastructure projects, which is directly reflected in stimulating the labor market and enhancing economic activity.”
He pointed out that “the strong coordination between fiscal and monetary policies dispels any fears of recession and even enhances the sustainability of economic stability, in light of low inflation and unemployment rates, high growth rates, and the launch of the social market strategy that balances protecting livelihoods and supporting investment and reconstruction.” LINK
