ISX trades $51 million worth of shares in December
Shafaq News/ On Tuesday, the Iraq Stock Exchange (ISX) announced the trading of 57 billion shares worth over 55 billion dinars (about $42 million) in December.
ISX reported that it conducted 20 trading sessions in December, with 74 out of 104 listed companies participating in the trades.
“The total shares traded were 57,862,320,000, valued at 55,652,595,000 dinars ($42,726,177), through 15,136 transactions. The ISX60 price index closed at 1,073 points, reflecting a 4% increase compared to its closing in the previous session.”
The Iraq Stock Exchange operates five trading sessions weekly from Sunday to Thursday and lists 104 joint-stock companies representing sectors including banking, telecommunications, industry, agriculture, insurance, financial investment, tourism, and hotels.
They told the Iraqi citizens we are in the process of adding a mechanism to add purchasing power to your currency.
Sudani constantly kept talking about it in November and December last year - 'I promise I'm going to do it. I promise you'll have more purchasing power than the dollar.'...He actually kept his promise because there is no dollars in the country of Iraq.
The only currency in Iraq right now is the Iraqi dinar...It has more value than the American dollar that has zero value inside of Iraq, therefore the Iraqi dinar now seeks a door...
We have security and stability in order to introduce the new exchange rate that Dr. Shabibi and the US Treasury have been protecting for a long time. There are no more CBI auctions. It is now called... remittance, just like the American banks do...The CBI is now functioning exactly like international banks, exactly like American banks..
Iraq faces economic collapse without reforms: Former Minister warns
Shafaq News/ Iraq could face severe economic challenges, including the inability to pay public sector salaries within two years, if critical reforms are not implemented, former Electricity Minister Luay Al-Khatib warned on Tuesday.
Describing Iraq’s governance as a system of “fiefdoms,” he emphasized the need for structural reforms to avoid what he called “inevitable collapse.”
In a statement on X, Al-Khatib highlighted the nation’s precarious economic situation, noting that “the deficit in federal budgets has reached 40%.”
He warned that if Iraq continues to draw on cash reserves amid fluctuating or falling oil prices, the value of the local currency could collapse. “In this scenario, the state will struggle to pay public sector salaries within two years,” he said.
Al-Khatib criticized the current governance model, stating, “Since the fall of the dictatorship in 2003, Iraq has been run by fiefdoms prioritizing private and sectarian interests.”
“This has transformed the private sector into a façade for political profiteering, deterring real investments and foreign currency inflow,” he added, attributing Iraq’s ongoing challenges to widespread “corruption” and the absence of social justice and economic sustainability.
Turning to the electricity sector, Al-Khatib dismissed claims of external interference, describing the issue as “entirely domestic and political.” He argued that political interests have obstructed efforts to reform and privatize the sector, leading to inefficiencies and corruption.
“The cost of government subsidies for electricity and oil exceeds $30 billion annually, with $20 billion allocated to electricity alone,” he revealed, describing this financial drain as unsustainable.
He called for “comprehensive reforms,” including restructuring the sector, revising tariffs, automating billing systems, removing illegal connections, and eliminating exemptions.
“These steps are critical to making the sector viable for privatization and attracting global-standard investments,” Al-Khatib said.
The former minister estimated that fully rebuilding Iraq would require over $1.5 trillion, a figure that far exceeds the nation’s oil revenues. “Attracting foreign investment and hard currency is the only viable solution,” he explained, urging the creation of a “secure and competitive investment environment free from political interference and armed groups.”
He emphasized the importance of offering incentives to investors that are competitive with those in other regional and global markets.
Al-Khatib concluded by calling for a decade-long commitment to economic reform in line with Iraq’s Constitution. “This process requires uninterrupted, cumulative efforts beyond the authority of a single ministry,” he said, noting that “It demands full Cabinet involvement, political backing, and a nationwide media campaign to educate the public with clear and transparent messaging.”
In another article titled “CENTRAL BANK RENEWS DIRECTIVE TO SPREAD AND EXPAND FINANCIAL SERVICES AND ATMS”
we read that the Central Bank of Iraq renewed, on Sunday, a directive to banks and non-banking financial institutions to spread and expand their financial services in areas that lack the presence of various services for bank card holders.
Why are these ATMs so important to our investment in the Iraqi dinar? They are important because the CBI told us they are an integral part of the Project to Delete the Zeros.
The President of the Kurdistan Region, Nechirvan Barzani, concluded his two-day visit to the Iraqi capital, Baghdad, during which he met with a number of officials.
Barzani wrote in a tweet on the “X-Twitter” platform previously, “It was my pleasure to meet with the brothers, leaders and officials in Baghdad. In this context, we renew our firm commitment to supporting a stable Iraq that guarantees justice and fulfills the state’s obligations towards all its components.”
He added, “We affirm our keenness to strengthen relations between Erbil and Baghdad, in a way that achieves the public interest and establishes a more prosperous and stable future.”