TNT:
Tishwash: Iraq: Non-oil revenues hit record high
The Eco Iraq Observatory announced on Saturday that the contribution of non-oil revenues to Iraq’s total financial revenues has risen to 16%, the highest percentage recorded so far.
The observatory said in a statement received by Al-Sa’a that “this is the first time that the percentage of non-oil revenues has risen to 16% during the months of May and June, after it had remained for years not exceeding 5%.”
He explained that “non-oil revenues rose for the first time to about 10% during the government of Mustafa Al-Kadhimi, and stabilized at this level during the government of Mohammed Shia Al-Sudani, before recently recording its highest percentage.”
The observatory explained that “non-oil revenues include commodity taxes and production fees, general fees, taxes on income and wealth, transfer revenues, as well as other revenues.”
He pointed out that “the revenues of the Kurdistan Region represent about 5.5% of the total non-oil revenues, through the funds that the region delivers to the federal government.” link
Tishwash: Al-Halbousi receives the US Chargé d’Affaires and emphasizes the importance of the economic partnership with Washington.
The head of the Progress Party, Mohammed al-Halbousi, discussed today, Sunday (July 26, 2026), with the US Chargé d’Affaires, Joshua Harris, the political developments and the economic partnership, and explained that the meeting addressed the results of the Prime Minister’s visit to Washington and the regional and international challenges.
The media office of the Progress Party, as reported by Network 964, stated that Al-Halbousi “received today, Sunday, the Chargé d’Affaires of the US Embassy in Iraq, Mr. Joshua Harris.”
He added that “the meeting addressed the political situation in the country, and supported the recent visit of the Prime Minister to the United States of America, which contributed to launching a comprehensive and diversified economic partnership that supports the Iraqi economy and expands investment opportunities.”
He added that “the meeting discussed developments in regional and international affairs, the challenges facing the region, and a number of topics of common interest.” link
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Tishwash: Parliamentary Finance Committee sets priority for new government legislation
The Parliamentary Finance Committee held a closed meeting on Saturday to discuss draft laws referred by the Iraqi government to the Council of Representatives, within its purview.
The meeting reviewed the draft laws submitted to the committee, examining their content and financial and legal implications, in preparation for further discussion and the formulation of necessary recommendations that align with current requirements and serve the public interest.
The head of the Parliamentary Finance Committee emphasized the importance of expediting the review of priority draft laws, according to a vision that ensures the strengthening of the state’s financial management, supports economic reforms, and develops the legislative environment to meet the needs of government institutions and citizens.
The committee also discussed mechanisms for coordination with relevant government entities and preparations to host representatives of ministries and specialized institutions to hear their technical and legal observations, ultimately aiming to draft sound legislation that contributes to enhancing institutional performance and achieving sustainable development. link
Tishwash: What prompted the American company JPMorgan to operate in Iraq?
Political analyst Alaa al-Aqabi stated on Sunday that the agreement with JPMorgan Chase includes allocating the proceeds from the sale of 500,000 barrels of oil per day to finance projects within Iraq, denying that this constitutes a free concession of Iraqi oil .
Al-Aqabi said in a televised interview followed by Al-Sa’a Network that “the opening of JPMorgan Chase Bank in Iraq aims to finance American projects and companies operating in the country, especially after a number of European banks refrained from working in the Iraqi market .”
He added that “the agreement includes the sale of 500,000 barrels of oil per day, with the proceeds to be deposited through JPMorgan Chase to finance the agreed-upon projects, and not the transfer of oil or its revenues to the United States for free .”
He explained that “some critics described the agreement as an occupation or colonialism, but that is not true, because the money will go back to finance projects inside Iraq .”
He pointed out that “these quantities are not counted within Iraq’s quota in OPEC, which gives Baghdad an opportunity to increase its oil exports without affecting its official quota, according to him .”
Al-Aqabi stressed that “Iraq needs international banking guarantees to attract investments and finance projects, given the continued reluctance of a number of European banks to enter the Iraqi market link
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Tishwash: The Central Bank of Iraq is restructuring its departments and creating a department to supervise non-bank financial institutions.
The Central Bank of Iraq has decided to implement extensive changes to its organizational structure, including elevating the Directorate of Supervision of Non-Bank Financial Institutions to a general department called the Department of Supervision of Non-Bank Financial Institutions, as part of efforts to improve institutional performance and enhance operational efficiency.
The decisions also included transferring the Operations and Settlements Section from the Information Technology and Payments Department to the Accounting Department, along with transferring the Policies and Regulations and Digital Financial Solutions and Services Sections to the Department of Supervision of Non-Bank Financial Institutions. The name of the Information Technology and Payments Department was also changed to the Information Technology Department.
Furthermore, the bank decided to abolish the Financial Inclusion Section and distribute its responsibilities among the Banking Supervision, Accounting, Statistics and Research, and Non-Bank Financial Institutions Supervision Departments. The Information Security Section was also abolished, and its responsibilities were transferred to the Risk Management Section in coordination with the Information Technology Department.
The measures also included abolishing the Office for Monitoring and Coordinating the Work of Central Bank Branches and linking the Basra, Mosul, and Erbil branches directly to the Deputy Governor. Finally, the Corporate Identity Division was transferred to the Total Quality Management and Institutional Development Department, which will report to the Deputy Governor instead of the Governor.
The Central Bank explained that these changes will take effect no later than July 30, 2026, with the Human Resources Department responsible for redistributing employees according to the new structure. The bank emphasized that these steps aim to enhance institutional performance and develop the organizational structure in line with its objectives and responsibilities. link
