Saturday, February 14, 2026

FRANK26… BANK STORIES

 

Nouri Al-Maliki’s new doctrine for power: Pragmatism over defiance?

On January 24, 2026, the Shiite Coordination Framework (CF), currently the largest bloc in Iraq’s parliament, named former Prime Minister Nouri Al-Maliki as its nominee for the country’s next premier, reopening one of Iraq’s most consequential political debates. The response was immediate. Debate intensified in Baghdad, regional capitals recalculated their positions, and Washington issued warnings.

Iraq once again stands at a familiar crossroads, this time under heavier internal strain and sharper external scrutiny. The question is not simply whether Al-Maliki is returning, but whether he returns unchanged or as a political figure reshaped by conflict, experience, and years outside executive office.

Pragmatism over Pride

Sovereignty once defined Al-Maliki’s political vocabulary. During his two terms between 2006 and 2014, he projected a sharp, defiant posture, frequently framing his leadership as resistance to foreign interference, particularly from the United States. His second term (2010–2014) in particular unfolded amid visible tension with Washington, reinforcing the image of a leader intent on consolidating national authority despite mounting political costs.

The environment in 2026 differs markedly. US President Donald Trump has openly warned against Al-Maliki’s return, signaling the possibility of severe measures. Speaking to Shafaq News, political analyst Ahmed Youssef referred to Washington’s explicit objection, noting that Trump described Al-Maliki’s reappointment as a path that could return Iraq to “poverty and comprehensive chaos,” invoking the period when ISIS seized major provinces before Iraq declared victory in 2017.

The implications extend beyond rhetoric as Iraq’s economy remains structurally vulnerable. Its banking channels, oil revenue mechanisms, and access to international financial systems remain deeply intertwined with global institutions. Any US sanctions or reduction in support would carry tangible domestic consequences, affecting currency stability, military cooperation, and reconstruction financing. “A confrontation with Washington today would not be confined to speeches; it would seep into Iraqi daily life,” Youssef warned.

Inside Iraq, reactions have been defensive. Aref Al-Hammami, a senior figure in the State of Law Coalition (SLC) headed by Al-Maliki, described any retreat from the candidacy under foreign pressure as “a political setback affecting all components of the country,” underscoring that Iraq is a sovereign state.

 The message was direct: external objections should not determine internal political decisions.

The caution, however, is more visible across the broader political arena.

 Abdulrahman Al-Jazaeri, head of the political bureau of the Tribal Movement in Iraq, pointed to a subtle but important shift within the CF. The next prime minister, he argued, should enjoy “regional acceptability,” citing reservations expressed by major figures within the Framework, including the Al-Hikma Movement led by Ammar Al-Hakim and Asaib Ahl Al-Haq headed by Qais Al-Khazali.


Al-Maliki’s own rhetoric reflects that recalibration. Faced with Trump’s warnings, he has avoided confrontation. Rather than revive the language of resistance, he has focused on “stability,” “investment,” “job opportunities,” and “completing reconstruction.” The shift appears calculated —an effort, as Ahmed Youssef assessed, to reassure external actors while navigating domestic contestation.

‘’Al-Maliki still represents a period rejected by segments of both the Iraqi public and parts of the international community,’’ he observed, noting that even though the language may be softer, the structural constraints remain.

Arming the State

If sovereignty defines one axis of scrutiny, the Popular Mobilization Forces (PMF) —inseparable from Al-Maliki’s political legacy— define another. 

Formed in 2014 following a fatwa by top Shiite cleric Ayatollah Ali Al-Sistani amid an unprecedented security collapse, the PMF played a decisive role in confronting ISIS. Its membership stands at around 200,000, comprising about 70 factions from various religious and ethnic backgrounds, though it remains predominantly Shiite.


 The Iraqi parliament later formalized these factions under the PMF Law, designating the force as a supporting body alongside the Iraqi Armed Forces, both under the authority of the prime minister as commander-in-chief.

Al-Maliki emerged as one of the PMF’s most prominent political defenders, and his previous tenure became closely associated with its rise as an influential actor within Iraq’s security architecture. After the 2025 parliamentary elections, however, his language shifted. He now refers to “restricting arms to the state” and ensuring “one army comprising all components under the command of the commander-in-chief of the armed forces.” At the same time, he rejected reports of dissolving the PMF, maintaining that any development should preserve its strength and reinforce its combat readiness rather than weaken it.

Read more: Nouri Al-Maliki’s return rekindles Iraq’s divisions as Iran and the US pull apart

Speaking to Shafaq News, Aref Al-Hammami portrayed this framing as national and reassuring, arguing that it does not target any specific group. Discussions over weapons held by factions, he added, fall within an “internal, fraternal relationship” that can be addressed domestically.

Meanwhile, political observer Abu Mithaq Al-Massari interpreted the adjustment not as a reversal but as an elevation of state-centered rhetoric suited to a sensitive political phase. Al-Maliki has not distanced himself from the PMF; he has repositioned the discussion.

For international partners, domestic rivals, and an Iraqi public fatigued by overlapping chains of command, the weapons file remains central. Any incoming government will be assessed by its ability to assert coherent security authority. The shift, therefore, is not a retreat from the PMF but an effort to embed it more clearly within the framework of centralized state power.

Realpolitik on Rails

Syria presents another test of tone and approach. In earlier years, Al-Maliki’s position toward Ahmad Al-Sharaa, known as Abu Mohammad Al-Julani when he led Haya’at Tharir Al-Sham, was unequivocal. He labeled him a terrorist, reflecting Iraqi anxieties over Al-Sharaa's previous role within ISIS in Iraq, the cross-border militancy, and the spillover of Syria’s conflict into Iraqi territory.

That stance aligned with a broader security-first posture shaped by the aftermath of 2011 and the rise of armed groups operating across porous borders.

Following the 2025 elections, the tone shifted. Al-Maliki signaled openness toward engagement with regional actors, including Syria. 


The adjustment does not abandon security concerns. Rather, it reflects recalculation shaped by geography and necessity. The Iraqi–Syrian border remains a zone of vulnerability, where infiltration risks, energy corridors, oil routes, and humanitarian transit converge.


Iraqi officials indicated that Baghdad seeks strategic stability that preserves internal sovereignty while enabling structured dialogue with Damascus based on national interests. The regional environment has also evolved. Some Arab states, particularly Gulf countries, have recalibrated their posture toward Syria, while US priorities shifted during the Trump phase. At home, pressure favors border stabilization over rhetorical confrontation, steering policy from individual labeling toward state-to-state management.

Read more: Nouri Al-Maliki: A name that still divides and tests the politics of memory

Quiet Tehran Ties

Al-Maliki has long been viewed as maintaining close ties with Tehran, particularly during the ISIS occupation of large parts of Iraq, when security coordination intensified.

Iranian officials have signaled support for any candidate agreed upon within the CF without publicly endorsing a specific name, effectively offering political cover without overt sponsorship. As Al-Maliki’s recent public messages concentrate more on institutional stability and state authority —and place less visible emphasis on external alliances— the recalibration appears deliberate.

Openly foregrounding ties with Tehran risks amplifying domestic polarization and complicating relations with Sunni and Kurdish factions, as well as Washington. Strategically, the approach suggests balance rather than rupture. The relationship with Iran remains intact, but it is conveyed with greater discretion.

A Return Shaped by Experience

Al-Maliki is not an emerging political figure testing authority. He governed for eight years and left office during one of the most turbulent chapters in Iraq’s modern history. The collapse of provinces, the war against ISIS, and years of internal polarization defined his tenure.

He now seeks not to consolidate authority for the first time, but to restore political legitimacy —a distinction that carries weight. In his second term, he spoke from the position of incumbent authority. Today, he operates as a candidate navigating objections: domestic fragmentation, Shiite hesitation, American warnings, and speculation about sanctions.

The experience of power and the cost of crisis appear to have reshaped his tone. Confrontation carries consequences. Institutional paralysis carries consequences, and economic rupture definitely carries consequences.

His recent discourse reflects a political actor more attentive to balance than confrontation. This is not a declared ideological revision, but a recalibrated method. Whether that recalibration signals a deeper transformation or merely strategic repositioning remains the defining question.

What is clear is that 2026 is not 2012. Al-Maliki’s path back to power runs not through the vocabulary of his past, but through careful management of Iraq’s present.

Read more: Al-Maliki sounds different this time — the worldis not convinced yet

Written and edited by Shafaq News staff.

SANDY INGRAM: Iraq Government Delay: What the Political Stalemate Means for the Dinar, Development Projects & Investors

 Sandy Ingram recently addressed growing concerns over Iraq’s political gridlock, pointing out that months after elections, Iraq still has no fully formed government. For many observers, this raises a serious question:

What is Iraq doing — and what does this mean for its economic future?

Let’s break it down strategically, economically, and realistically.


Three Months After Elections — Still No Government

Iraq has historically faced prolonged government formation negotiations following elections. Coalition politics, factional influence, and regional pressures often lead to extended stalemates.

As Sandy points out, when conditions are not aligned in Iraq’s favor, the country tends to:

  • Stall negotiations

  • Pause forward movement

  • Avoid committing to major structural changes

While frustrating for investors, this pattern is not new in Iraq’s political landscape.


Billions of Dollars at Stake

Iraq reportedly holds over $100 billion in reserves — funds critical to stabilizing the economy and supporting its currency.

The Central Bank of Iraq has repeatedly emphasized strong foreign currency reserves, which serve as a buffer against economic shocks.

Protecting these reserves requires:

  • Political stability

  • Controlled spending

  • International cooperation

  • Confidence from global markets

Without a seated government, long-term fiscal planning becomes more complicated.


The Development Road Project: A Strategic Game-Changer

One of the most ambitious initiatives underway is Iraq’s Development Road Project — a massive infrastructure plan designed to connect the Persian Gulf to Europe through Iraq via railways, highways, and logistics hubs.

This project aims to:

  • Transform Iraq into a global trade corridor

  • Compete with alternative regional trade routes

  • Diversify revenue beyond oil

  • Attract foreign direct investment

Major regional players such as Turkey and United Arab Emirates are closely watching infrastructure expansions across the Middle East.

For Iraq to fully capitalize on this opportunity, political clarity is essential.


The Multi-Billion Dollar Tourism Opportunity

Iraq also holds untapped tourism potential, including:

  • Religious tourism

  • Cultural heritage tourism

  • Archaeological sites

  • Regional travel markets

Cities like Najaf and Karbala already attract millions of religious visitors annually.

Stability, security, and diplomatic goodwill are crucial for expanding tourism into a multi-billion dollar industry.

Remaining in good standing with regional and global partners strengthens that opportunity.


External Pressure and Quiet Influence

Sandy suggests Iraq may be facing silent pressure or subtle threats behind the scenes. While specifics are not publicly confirmed, Iraq’s geopolitical position places it between major global and regional powers.

Iraq must balance relationships with:

  • Western nations

  • Gulf states

  • Regional neighbors

  • Eastern economic powers

Navigating these relationships while forming a government requires careful strategy.


Featured Snippet: Why Doesn’t Iraq Have a Government Yet?

Why does Iraq’s government formation take so long?
Iraq’s coalition-based political system often results in extended negotiations between factions before a governing majority is formed.

Does political delay affect the dinar?
Political uncertainty can slow economic reform and delay major policy decisions, which may impact currency confidence.

What is at stake for Iraq?
Over $100 billion in reserves, large infrastructure projects, and a growing tourism sector depend on political stability.


Why Iraq “Stalls” During Uncertainty

Historically, Iraq slows forward momentum during political uncertainty to:

  • Prevent rushed decisions

  • Avoid irreversible commitments

  • Maintain internal balance

  • Protect financial reserves

While this can appear as dysfunction, it is often a defensive strategy.

However, prolonged delays can:

  • Reduce investor confidence

  • Slow infrastructure rollout

  • Delay foreign partnerships

  • Postpone monetary reforms


What This Means for Iraqi Dinar Watchers

Political stability is a key ingredient for:

  • Currency reform

  • Exchange rate policy adjustments

  • International banking integration

  • Large-scale investment flows

Without a formal government, sweeping economic reforms typically remain on hold.

This does not mean progress stops completely — but major announcements often require political consensus.


Q&A Section

Q1: Can Iraq function without a formed government?

Yes, but only at a limited administrative level. Major reforms and new legislation typically require a seated government.

Q2: Does political delay mean economic collapse?

No. Iraq still maintains oil revenue and foreign reserves. However, uncertainty can slow reform momentum.

Q3: Could the Development Road Project continue without a full government?

Preliminary work and planning can continue, but full-scale execution benefits from political stability and budget approvals.

Q4: Is Iraq aware of what’s at stake?

Iraq’s leadership understands the importance of reserves, international reputation, tourism potential, and infrastructure strategy.


Final Thoughts

Iraq’s political stall is not unusual — but the stakes are higher than ever.

With:

  • Over $100 billion in reserves

  • A strategic Development Road Project

  • Growing regional tourism potential

  • Increased global attention

The country stands at a pivotal crossroads.

Political formation may take time, but Iraq understands the value of what it has built — and what it risks losing.

For dinar watchers and global observers alike, patience and attention to official developments remain essential.


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#IraqNews #IraqiDinar #MiddleEastEconomy #DevelopmentRoad #GlobalTrade #TourismIndustry #DinarUpdate #PoliticalStability #ForexNews #EmergingMarkets

Sandy Ingram  

This morning I woke up, there was still no government...Iraq understands they have over $100 million [billion?] dollars to protect. 

 We believe Iraq understands the progression and the progress they have worked so hard for and the plans of the development road project and other major projects happening in the Middle East...Iraq understands there is a multi-billion dollar tourism industry with its name on it and the way to take advantage of this is to remain in good favor with all nations...We believe Iraqis understand.  We also believe they are being pressured and quietly, silently, threatened.  We believe Iraq understands what's at stake.

This morning we all wake up and we wonder what the hell is Iraq doing?  I'm here to say to you, Iraq is doing what they always do when things are not right for Iraq.  They stall.  They shut down.  They do not move forward.  It has been three months since the election and there is still no government.

FIREFLY: HCL Cards and New Exchange Rate!!! ‪@DINARREVALUATION‬ #iraqidinarinvestor #iraq

Iraq is preparing to export its oil via Türkiye, Jordan, Egypt, and Saudi Arabia... Syria is on hold.

  Iraq is preparing to export its oil via Türkiye, Jordan, Egypt, and Saudi Arabia... Syria is on hold. 

The Ministry of Foreign Affairs announced on Thursday plans for external oil connections with four countries: Turkey, Jordan, Egypt, and Saudi Arabia. It noted that work on the Kirkuk-Banias pipeline has been postponed due to the situation in Syria, as the ministry explained that the security situation in Syria prevents Iraq from taking actual steps to restore the pipeline.

The Undersecretary of the Ministry, Hisham Al-Alawi, said in a statement to the official agency, which was followed by the 964 network , that “work on the Kirkuk-Banias pipeline has been postponed due to the security situation in Syria, which prevents us from taking actual steps in this direction,” indicating that “Iraq has several alternatives for external oil connections, including through Turkey and Jordan to Egypt, in addition to Saudi Arabia.”

He added that “the Iraqi government has worked over the past years to rehabilitate the oil export pipeline through Turkey, and there are talks with Jordan and Egypt,” noting that “Iraq has adopted the project to link the oil fields through Haditha, and discussions were about implementing a project to complete this link through Jordan to Egypt, but work on that has not started.” link

FRANK26: Iraqi Dinar 1:1 Rate Speculation Explained: What Would a One-to-One Exchange Really Mean?

 A recent discussion from Frank26 has reignited debate within the dinar community. The central question raised was simple:

“When all this happens what is the formula for the exchange? Is it rate multiplied by the amount of dinar you have?”

According to Frank26’s opinion (IYO), the goal is for Iraq to reach a 1:1 exchange rate with the U.S. dollar — meaning:

  • 1 Iraqi dinar = 1 U.S. dollar

  • 1,000,000 Iraqi dinar = 1,000,000 U.S. dollars

Let’s break this down clearly, logically, and realistically.


The Basic Exchange Formula Explained

The exchange formula for any currency is straightforward:

Amount of currency you hold × Official exchange rate = Total value received

If — hypothetically — the 

Iraqi dinar were ever valued at 1:1 with the United States dollar, then yes:

  • 1 IQD × 1.00 USD = 1 USD

  • 1,000,000 IQD × 1.00 USD = 1,000,000 USD

However, this calculation only applies if an official exchange rate is internationally recognized and accessible through the global banking system.


Is a 1:1 Rate Official?

As of now, Iraq has not officially announced a 1:1 exchange rate.

The Central Bank of Iraq maintains the official rate, and any change would need to be formally declared and integrated into international forex systems.

Speculation about future rates is common in emerging market currencies, but official implementation is what ultimately determines real exchange value.


Shifting Bank Attitudes Toward the Iraqi Dinar

Frank26 also made an interesting observation regarding perception changes:

  • In 2023, mentioning the dinar often triggered immediate skepticism from banks.

  • Now, reportedly, some banks are at least willing to discuss it.

If accurate, that shift could reflect:

  • Increased awareness

  • Regulatory clarification

  • Reduced stigma

  • More familiarity among financial institutions

However, it's important to note that:

  • Many banks still do not actively exchange Iraqi dinar.

  • Currency exchange policies vary by institution and country.

  • Exchange availability does not automatically indicate a revaluation.

The difference between “scam perception” and “recognized emerging currency” is largely tied to regulation, liquidity, and official policy — not rumor cycles.


What Would It Take for 1:1 to Happen?

For Iraq to move toward parity with the U.S. dollar, several macroeconomic conditions would typically need to align:

  1. Sustained economic growth

  2. Strong foreign reserves

  3. Stable political climate

  4. Reduced corruption

  5. Diversified revenue beyond oil

  6. Full international integration of the banking system

Iraq has made reforms in digital customs, anti-corruption tracking, and financial modernization — but currency valuation is a complex monetary policy decision involving domestic and international factors.


Featured Snippet: How Currency Exchange Is Calculated

How do you calculate a currency exchange payout?
Multiply the amount of currency you hold by the official exchange rate set by the central bank and recognized internationally.

Would 1 million dinar equal 1 million dollars at 1:1?
Yes — mathematically, if the official rate were 1 IQD = 1 USD.

Is there an official 1:1 rate now?
No. There has been no official announcement of a 1:1 exchange rate.


Important Reality Check

Currency valuation is not based on investor desire — it is based on:

  • Money supply

  • GDP

  • Foreign reserves

  • Trade balance

  • Central bank policy

While optimism exists in parts of the dinar community, any major exchange rate shift would require coordinated economic policy and global financial system integration.


Q&A Section

Q1: Is the exchange formula really that simple?

Yes. The math is simple. The complexity lies in whether the rate is officially recognized and accessible.

Q2: Can banks refuse to exchange dinar?

Yes. Banks are not required to exchange every foreign currency. Availability depends on liquidity, regulations, and demand.

Q3: Does increased willingness to talk about dinar mean a revaluation is imminent?

Not necessarily. It may reflect normalization or awareness rather than a confirmed monetary shift.

Q4: Could Iraq ever reach 1:1?

It is theoretically possible for any currency to change value over time, but such a move would require substantial economic transformation and official policy action.


Final Thoughts

The formula for exchange is straightforward. The policy behind the rate is not.

While discussions of a potential 1:1 rate generate excitement, investors should remain grounded in official announcements from the Central Bank and global forex platforms.

Speculation can change sentiment — but only official monetary reform changes exchange rates.

Stay informed. Stay analytical. Stay patient.


Stay Connected for Daily Updates

🌍 BLOG: https://dinarevaluation.blogspot.com/
📲 TELEGRAM: https://t.me/DINAREVALUATION
📘 FACEBOOK: https://www.facebook.com/profile.php?id=100064023274131
🐦 TWITTER (X): https://x.com/DinaresGurus
🎥 YOUTUBE: 
https://www.youtube.com/@DINARREVALUATION


Hashtags

#IraqiDinar #DinarUpdate #ForexNews #CurrencyExchange #DinarRevaluation #IQD #GlobalFinance #MiddleEastEconomy #BankingNews #InvestmentTalk

Frank26  

 Question:  "When all this happens what is the formula for the exchange?  IYO is it rate multiplied by the amount of [dinar you have]?"

  All you need to know is that they're trying to get to 1 to 1 with the American dollar therefore if you have 1 Iraqi dinar you have 1 American dollar.  If you have a million Iraqi dinars you have a million dollars... 

 Back in 2023 the moment you said [dinar], BOOM, it's a scam!.  But now the moment you say Iraqi dinar, BOOM, we'd like to talk to you, or how can we help you. 

 If you hear that it's a scam it would be maybe 1 out of 10 [banks] whereas back in '23 it was all 10.  You see the difference?  It's not a secret anymore.  Everybody knows.

FRANK26….2-13-26…..MODERNIZE DINAR

 

MNT GOAT TIDBITS: Perspective on Iraq, Policy & IQD

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