Proposed Reforms:
- Issuing a New Currency: Mazen Al-Ishiqir proposed replacing the current currency with a new one pegged directly to the US dollar (1 Dinar = 1 Dollar) to ensure long-term stability.
-Digital Governance Dashboard: Mazen Al-Saad emphasized the need for a “dashboard” management system based on real-time data to monitor state resources and oversee administration, replacing outdated paper-based bureaucracy.
-Reactivating the Reconstruction Council: Al-Ishiqir suggested allocating 30% of state revenue to an independent Reconstruction Council to ensure funds are directed toward strategic projects, mitigating corruption.
-Fair Tax Laws: The guests highlighted the importance of a progressive tax law to regulate revenue from the private sector (hospitals, universities, housing complexes), which currently utilize state assets without significant returns.
Pegging the Dinar to the Dollar:
-Al-Ishiqir stated that he discussed the idea of pegging the Dinar to the Dollar with the US Treasury, who informed him that the process could be technically achieved within three months, contingent upon the political will and an agreement between the Federal Reserve and the Central Bank of Iraq.
Implementation of Digital Currency and Governance:
-Mazen Al-Saad argued that digital transformation and managing state operations through a data dashboard can be initiated with a single decision, asserting there are no technical obstacles to the transition.
📊 IRAQ REFORM PATH – BUILDING A STRONGER CURRENCY FUTURE 🇮🇶💱
Iraq’s ongoing financial and banking reforms can be viewed as a strategic effort to strengthen the dinar’s long-term value and international position.
The Central Bank of Iraq (CBI) appears to be advancing modernization measures aimed at:
🏦 Improving banking sector efficiency and transparency
🔐 Strengthening AML/KYC compliance with global standards
🌍 Enhancing integration with international financial systems
💳 Expanding digital and electronic payment infrastructure
These developments suggest a broader objective of increasing confidence in Iraq’s financial system, which is a key factor that typically supports currency strength over time.
From this perspective, structural reforms are not only administrative changes, but part of a long-term nation-building financial strategy designed to position Iraq within a more stable and globally connected economic framework.
If sustained successfully, such reforms could contribute to:
Greater foreign investment confidence
Stronger banking credibility
Reduced currency volatility
Improved macroeconomic stability
The underlying idea is that a stronger institutional and financial foundation often precedes stronger currency performance in global markets.
💡: Iraq’s reform momentum reflects an ambition to build a more credible, stable, and internationally trusted financial system — which in turn could support a stronger valuation of its currency over time.
HERE’S WHY MAY 27thIS NOW CRITICAL FOR IRAQ’S FUTURE AND THE WEST’S MIDDLE EAST
Iraq’s Iran-aligned Coordination Framework nominated businessman Ali al-Zaidi as prime minister-designate, but he faces a difficult 30-day deadline to form a cabinet balancing pro-Iran factions, Kurdish and Sunni blocs, and U.S. pressure.
If Zaidi fails, Iraq’s constitution allows the president to nominate another candidate while caretaker PM Mohammed Shia’ al-Sudani remains in office.
Iraq’s political future remains tied to the broader U.S.-Iran power struggle, with Washington, Tehran, Russia, and China all competing for influence.
After more than five months of political cajolery, threats, and infighting since Iraq’s 11 November parliamentary elections – the seventh since Saddam Hussein’s fall in 2003 – an erstwhile obscure businessman, Ali al-Zaidi, has been selected as the Prime Minister-designate of the governing Iran-aligned Shia Coordination Framework bloc. Regarded as a compromise candidate between more pro-West sitting Prime Minister, Mohammed Shia’ al-Sudani, and one of his predecessors, the pro-Iran Nouri al-Maliki, al-Zaidi now has until 27 May to form a government. This is done by selecting a cabinet, which must, in turn, be approved by Iraq’s parliament (the Council of Representatives). So, what happens if, as occurred in 2020, he as Prime Minister-designate cannot do so, and what happens if he can?
A cornerstone of Iraq’s 2005 Constitution was the safeguarding against the re-emergence of a single dominant force in Iraqi politics, especially any resurgence of Saddam Hussein’s Ba’ath Party. This meant a dispersal of executive power between three key jobs – Prime Minister, President, and Speaker of Parliament. These have traditionally been split between the three main groups in the country — the Prime Minister for the Shia Arabs (the largest demographic group), the Presidency for the Kurds (occupying the semi-autonomous state in the North), and the Speakership of Parliament for the Sunni Arabs (the other principal religious grouping). Although this power structure has indeed prevented any meaningful revival of the Ba’ath Party, it has also complicated what on the face of it looks a straightforward and quick procedure for choosing a new premier.
According to the constitution, once the general election results have been verified, the president asks the newly elected parliament to meet within 15 days. In that first gathering, parliament elects a speaker and two deputies by a simple majority vote. It can then choose a new president – provided there is a two-thirds majority for a single candidate — or extend the sitting president’s term. Once this has been finalized, the new president authorizes the bloc that holds the most seats in the new parliament to form a cabinet led by its chosen nominee for prime minister.
So what happens if al-Zaidi is unable to form a new government by May 27th?
Under Article 76 of the Constitution, the President (Patriotic Union of Kurdistan member and former Environment Minister, Nizar Amedi) has 15 days from the date of the deadline’s expiration (taking us to 11 June) to task another candidate with forming the Council of Ministers. The new nominee then receives their own 30-day window to present a cabinet and government program to the Council of Representatives, and so the process would continue until any of the subsequent Prime Minister-designates can form a new government.
In 2020, two consecutive Prime Minister-designates failed to take office after proving unable to assemble a cabinet with parliamentary support. In the interim period, the outgoing government – currently led by al-Sudani – would continue to function in a caretaker capacity to prevent a political vacuum.
(Mnt Goat: This election could drag out all through the summer. Do you see it too? So let’s not go off half-cocked with these ideas that the RV is imminent. This is obviously stupid to say at this point in time since there is no evidence to back up this claim. The show is not over until the fat lady sings…. Lol… But let’s pray for the best and for an honest, competent person will take over the helm and move Iraq forward not backward. Are you praying for Iraq? )
...the CBI keeps moving ahead with banking reforms. I am not even following them too closely any longer as these reforms, as I am told by my CBI contact, are all part of the White Paper and the White Paper is as done as they need it to reinstate the dinar and go international.
Article: “WARNINGS AGAINST “MINISTERS OF FAILURE”… ADAI CALLS ON AL-ZIDI TO CONFRONT THE PRESSURES OF THE BLOCS AND APPOINT COMPETENT INDIVIDUALS TO MINISTERIAL POSITIONS”
...Yes, they are always filling these high paying govt jobs as favoritism rather that real skill to do a competent job.Is this also why we sit here over 20 years still waiting for the RV?
We are about to see it again with Nouri al-Maliki getting either a vice-presidential position or even now he wants the minister of oil, a Zaidi’s cabinet position. Did he horse trade his vote to let in al-Zaidi for this?
Of all positions in the cabinet (besides finance minister or minister of the interior) this is definitely also one you don’t want Maliki medaling around in.
He will most definitely mess up the current agreements made with Kurdistan and muck up the Oil and Gas Law now on the table in parliament. We need this law done to get us to the reinstatement...He actually wants to stop the Oil and Gas Law because he knows it will bring conclusion to this constitutional requirement, something the US is demanding prior to the reinstatement...This guy is bad news for any real progress in Iraq.
The Central Bank of Iraq (CBI) is described as continuing banking reforms aligned with a broader “White Paper” economic roadmap, which some believe is foundational for future international financial reintegration.
There is ongoing criticism of Iraq’s political system, particularly the practice of appointing ministers based on political favoritism rather than technical competence, raising concerns about governance efficiency.
Political instability and power struggles among blocs are seen as slowing down meaningful reform progress and long-term economic planning.
The article highlights concerns about potential appointments of controversial political figures (such as Nouri al-Maliki) into influential government roles, including energy-related positions.
Oil and Gas legislation remains a major focal point, as it is considered essential for resolving federal–Kurdish disputes and stabilizing Iraq’s energy sector framework.
Critics argue that interference in this law or delays caused by political maneuvering could stall broader economic reforms and international financial integration goals.
The broader sentiment presented suggests that Iraq’s reform process is highly dependent on political cooperation, institutional stability, and completion of key legislative requirements.
WARNINGS AGAINST “MINISTERS OF FAILURE”… ADAI CALLS ON AL-ZIDI TO CONFRONT THE PRESSURES OF THE BLOCS AND APPOINT COMPETENT INDIVIDUALS TO MINISTERIAL POSITIONS
(Mnt Goat: how many times must we read these types of articles over these election cycles. Yes, they are always filling these high paying govt jobs as favoritism rather that real skill to do a competent job. We are about to see it again with Nouri al-Maliki getting either a vice president position or even now he wants the minister of oil Zaidi’s cabinet position. Of all positions in the cabinet this is definitely one you don’t want Maliki medaling around in. He will most definitely mess up the current agreements made with Kurdistan and muck up the Oil and Gas Law now on the table in parliament. Do you see how he works. He actually wants to stop the Oil and Gas Law because he knows it will bring conclusion to this constitutional requirement, something the US is demanding prior to the reinstatement. Who stopped the reinstatement in December 2012. Go figure! This guy is bad news for any real progress in Iraq. They use these key positions to compromise votes, horse trade and manipulate the economy.)
MP Riyadh Adai warned the prime minister-designate on Tuesday against succumbing to pressure from certain political forces seeking to impose “incompetent” figures in the upcoming cabinet. He stressed the necessity of selecting professional ministers, free from the abhorrent quota system.
Adai told Al-Maalouma, “The current stage requires selecting a cabinet of competent and experienced individuals, completely avoiding figures who have previously proven their failure in managing the state’s key institutions.”
He explained that “appointing ministers who do not rise to the level of responsibility will lead to a weak government that fails to meet the people’s aspirations.”
He added, “There is pressure being exerted by some political entities on the prime minister-designate to approve specific names lacking qualifications,” warning that “accepting this pressure will reproduce failure, and the prime minister-designate must bear full responsibility for choosing the most suitable individuals to lead the ministries.”
