🛢️ “Iraq Oil Revenues Flowing Smoothly 💸 CBI Confirms No Obstacles & Dinar Reform On Track!” 🇮🇶🔥
🗓️ Central Bank of Iraq Update — October 2025
🏦 No Barriers for Oil Revenue Withdrawals
CBI Governor Ali Al-Alaq confirmed that Iraq faces no obstacles withdrawing oil revenues from US banks, despite reports of sanctions on several Iraqi banks for alleged illegal dollar transactions.
“We receive US dollars daily and convert it directly to Iraqi dinars to meet the needs of the Ministry of Finance,” Al-Alaq told Rudaw.
This ensures salaries, government expenses, and economic stability are maintained while supporting the Iraqi dinar.
💰 Iraq’s Oil Revenue Snapshot:
August 2025: $7.1 billion generated from oil exports.
Oil remains Iraq’s main source of income, funding government operations and civil servant salaries.
📊 Budget & Financial Coordination:
Al-Alaq highlighted challenges with Iraq’s
three-year budget (2023-2025), noting high expenditures and a growing deficit:
“The three-year budget contains significant expenditures, which is why the deficit has increased. However, there is coordination between the Ministry of Finance and the Central Bank to ensure greater financial stability.”
Efforts include non-oil revenue growth to buffer against economic shocks and establish a sustainable financial foundation.
🔢 Zero-Removal Project Moving Forward
The CBI’s initiative to remove zeros from the dinar is still in progress.
“The matter of removing zeros from the Iraqi currency is a project that still exists and is ongoing. We are planning for it, and in the future we will see progress on this matter,” said Al-Alaq.
This reform is designed to strengthen the national currency and modernize Iraq’s financial system.
💹 Market Signs:
The dinar has shown steady recovery.
The market rate is approaching the official rate of 1,320 IQD/USD, signaling increased stability.
⚠️ Disclaimer:
This information is for educational and informational purposes only. It reflects official statements and public reports and is not financial advice.
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