80% of money is outside banks… Former MP calls for a new strategy to attract hoarded funds
8-6-2026
Information/Baghdad…
Former MP Abbas Sarout confirmed on Thursday that 80% of Iraqi money is hoarded in homes, away from banks, noting the need to reconsider the strategy for attracting funds to the banking system.
Sarout explained to Al-Maalouma that “Iraq is suffering from a liquidity crisis that has begun to affect salary distribution, given that 80% of the money is hoarded outside banks. This requires serious attention to adopt a strategy that creates incentives to encourage citizens from all walks of life to deposit their money in banks and adopt electronic Read more…
The National Union and the New Generation are leading a movement to prevent the Democrats from seizing power.
8-6-2026
Information/Special..
The Patriotic Union of Kurdistan revealed on Thursday that negotiations to form the Kurdistan Regional Government are still ongoing between the political alliances and the forces that won the elections, which are striving with all their might to undermine the Democratic Party’s monopoly on power and prevent it from monopolizing all government positions.
Burhan Sheikh Marouf, a member of the Patriotic Union of Kurdistan (PUK), stated that the new alliance comprising the PUK and the New Generation Movement now holds 38 seats out of 100, Read more…
Exclusive: Factions set four conditions for freezing their response to Saudi Arabia
2026-08-06
Shafaq News – Baghdad
An informed source revealed on Thursday that the armed factions have “temporarily” frozen their decision to respond to Saudi Arabia, and have put forward their demands, which include an official apology and compensation from Saudi Arabia, otherwise they will proceed with a response.
The source told Shafaq News Agency that “the factions that threatened to respond to the Saudi bombing that targeted a number of Popular Mobilization Forces headquarters in some Read more…
Iraq declares “war” on armed groups outside the state
2026-08-06
Shafaq News – Baghdad
On Wednesday evening, the State Administration Coalition declared that entities engaging in behavior that threatens the country’s security outside the framework of official institutions are “outlaws and must be fought,” and warned that any armed activity after September 30, 2026, will be subject to the provisions of the Counter-Terrorism Law.
This came during the 37th periodic meeting of the coalition, which was held at the Government Palace in the presence of the President of the Republic, the Prime Minister, the Speaker of Parliament, the President of the Read more…
Trump responds to the Washington Post: We are building the largest ammunition factories in American history.
2026-08-06
Shafaq News – Washington
US President Donald Trump said on Thursday that the United States has large quantities of ammunition, asserting that his country is building the largest number of ammunition factories in its history.
Trump added that his administration would seek prison sentences for those who leaked what he called “treasonous statements”.
Earlier today, the White House denied a Washington Post report that said US President Donald Trump was growing Read more…
Categories:
UNCATEGORIZED Tags:
Two international organizations warn of an “environmental disaster” off the coast of Oman.
2026-08-06
Shafaq News – Follow-up
Two organizations, one Canadian and one Dutch, warned on Thursday of an “environmental disaster” threatening a marine reserve off the southern coast of Oman, due to an oil spill from a tanker that was attacked more than a month ago.
A maritime security company reported that the tanker was hit by explosions last June, the causes of which were unclear, according to Agence France-Presse.
Satellite images seen by AFP showed a patch consistent with the shape of an oil spill in the vicinity of Oman’s Qibla Read more…
Categories:
UNCATEGORIZED Tags:
Iraq doubles its oil exports in July, easing the impact of declining Gulf supplies.
2026-08-06
Shafaq News – Baghdad
Data from Kpler showed that crude oil and condensate exports from the Gulf states stabilized during July at around 10.7 million barrels per day, a slight increase of 2% compared to June, but still about 40% lower than their levels before the escalation of tensions in the region.
Iraq contributed to supporting the region’s exports after it doubled its exports compared to last June, benefiting from an increase in oil tanker shipments, which compensated for some Read more…
Between Oman and Iran: A new navigation map in the Strait of Hormuz without financial burdens on ships
2026-08-06
Shafaq News – Follow-up
A high-ranking source revealed on Thursday details of a new proposal to manage maritime traffic in the Strait of Hormuz, coinciding with regional diplomatic efforts aimed at reducing security and military tensions between Washington and Tehran in the region.
Al-Arabiya satellite channel quoted the source as saying that ships entering Hormuz will use the shipping lane closest to Iran, while departing ships will use the shipping lane closest to Oman. Read more…
Categories:
UNCATEGORIZED Tags:
“American flirtation”: Opening up to Syria strengthens Iraq’s regional standing
2026-08-06
Shafaq News – Translation
The American openness to the new Syria is not purely in Syria’s interest, but rather, according to the British website “Amwaj”, it represents an opportunity for Iraq and its regional role, on the political and economic levels.
In what the British website described as the clearest indication yet that Washington intends to transform Damascus from a pariah state into an active regional partner, the report stated that the Donald Trump administration recently informed Congress of its intention Read more…
The Kurdistan Regions Authority responds to the Kirkuk governor regarding Article 140 and calls for respect for the constitution.
2026-08-06
Shafaq News – Kirkuk
The General Authority of the Kurdistan Regions rejected on Thursday the statements of Kirkuk Governor Mohammed Saman Agha regarding Article (140) of the Iraqi Constitution, stressing that the Constitution represents the basis upon which the political system in Iraq is based, and that any statements that contradict it would deepen the disputes and divert attention from the service files that the governorate needs.
The commission said in a statement received by Shafaq News Agency that “the Iraqi constitution constitutes the true contract between all components of the Iraqi people, Read more…
A decline in cash credit and deposits in Iraqi banks during the first half of 2026
2026-08-06
Shafaq News – Baghdad
Official data showed a decline in total deposits and cash credit in Iraq up to the end of May 2026, while the private sector continued to take the largest share of bank financing.
According to data seen by Shafaq News Agency, total deposits at banks reached 104.296 trillion dinars by the end of May 2026, compared to 104.727 trillion dinars in April and 105.090 trillion dinars in March, reflecting a continued decline for the third consecutive month. Read more…
Parliamentary Finance Committee: No solutions yet for the salary crisis
2026-08-06
Shafaq News – Baghdad
On Thursday, Hussein al-Daraji, a member of the parliamentary finance committee, confirmed that the finance minister had requested to be hosted in parliament to explain the country’s financial situation and discuss the draft borrowing law, while noting that there were no solutions yet to the salary crisis.
Al-Daraji told Shafaq News Agency that the parliament’s presidency has not yet set a date for the session to host the finance minister, which the latter requested, indicating that the session will include a discussion of the draft borrowing law, which the government had previously sent as part of a package of draft laws. Read more…
The movement opposing “Khor Abdullah” demands a clear response from Baghdad regarding the Kuwaiti and Saudi memoranda.
2026-08-06
Shafaq News – Basra
The popular movement opposing the Khor Abdullah agreement called on the federal government on Thursday to issue a clear response to the protest notes sent by both Saudi Arabia and Kuwait regarding the maritime borders approved by Iraq, stressing that the country’s borders and waters are not subject to negotiation or compromise.
The movement stated in a statement that it is closely following the recent moves and restrictive measures Read more…
The Minister of Oil directs an increase in production from Kirkuk oil fields and prioritizing local employment.
2026-08-06
Shafaq News – Baghdad
Oil Minister Bassem Mohammed Khudair Al-Abadi stressed on Thursday the need to increase and sustain crude oil production from the four Kirkuk fields, while also promoting gas investment and employing local workers.
This came during his chairmanship of the fourth meeting of the joint management of the field development project being implemented by the British company BP. Read more…
Iraqi Dinar Guru opinions 8-5-2026
8-5-2026 Newshound Guru Jeff Right now Iraq is claiming they only have a currency shortage to pay salaries. They can pay all their other bills. I searched the news for two hours a day. I have not seen one article saying they can’t pay any other bills…They’re able to pay all their other bills, just not salary payments. Think about that carefully…Why is it they can’t only pay salaries? Because in a new budget period with a pending rate change they would have to adjust salary pay scales and approve the budget. To approve the budget, the new currency value has to exist and be in place…This suggests to me the rate changing is most likely in August. Read more…
The Iraqi Ministry of Finance and the World Bank begin preparing a roadmap for digital transformation.
2026-08-05
Shafaq News – Baghdad
The Iraqi Ministry of Finance announced on Wednesday that it has begun implementing the requirements for preparing the executive roadmap for digital transformation in cooperation with the World Bank.
According to a statement from the Ministry of Finance received by Shafaq News Agency, this came during a meeting held by the Undersecretary of the Ministry, Ali Karim, with a World Bank delegation headed by Emmanuel Salinas, and in the presence of the Directors Read more…
Tomorrow, the framework will discuss completing the formation of the government.
8-5-2026
Information/Baghdad…
A member of the Coordination Framework, Uday Abdul-Hadi, confirmed on Wednesday that the Coordination Framework forces will hold a meeting tomorrow to discuss five issues on the agenda.
Abdul-Hadi explained to Al-Maalouma that, “According to available information, the Coordination Framework forces, with all their leaders, will hold an important meeting tomorrow in Baghdad, in the presence of Prime Minister Ali al-Zubaidi, to discuss five issues on the agenda. The most Read more…
The last American air defense system was dismantled inside the Harir base in Erbil.
8-5-2026
Information/Erbil…
Informed sources revealed on Wednesday that the last air defense system inside Harir Air Base near Erbil has been dismantled.
The sources explained to Al-Maalomah that “technical teams inside Harir Air Base have completed, according to field indicators, the dismantling of the last air defense system belonging to the American forces, as part of accelerated withdrawal steps, in compliance with the agreement between Washington and Baghdad, under which the American military presence in Iraq will end entirely by the end of this month.” Read more…
Political pressure or a reform campaign? Calls for Al-Zaydi to open long-pending corruption files.
8-5-2026
The issue of combating corruption has resurfaced in the political arena, with growing talk of political pressure on the government. This coincides with demands to reopen files and review contracts signed during previous administrations. Parliamentarians are emphasizing the need for legal and political cover for the relevant authorities to pursue those involved and recover public funds. They assert that the success of any anti-corruption campaign requires neutralizing political pressure and enabling oversight and judicial institutions to perform their duties without interference. Furthermore, they stress the importance of reviewing contracts and files suspected of involving the misuse of public funds. In this Read more…
A preliminary agreement has been reached to fill the vacant ministerial positions by the end of August.
8-5-2026
Information/Special..
Former MP Jassim Mohammed Jaafar predicted on Wednesday that the political forces will agree to pass the nine ministries within the next few days, and that they may be put to a vote before the House of Representatives at the end of this August.
Jaafar explained in a statement to Al-Maalomah News Agency that “there is a consensus among most political forces to present the names of candidates to fill these nine vacant ministries to the House of Representatives as a single package,” predicting that “the vote on the remaining ministries will take place in the House of Representatives at the end of this August.” Read more…
