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TNT
Tishwash:
Karmal partners with ZagTrader for Electronic Trading in Iraq
Karmal Brokerage has secured approval from the Iraq Stock Exchange (ISX) to launch a comprehensive digital transformation project in preparation for operations on the “Tabadul” electronic trading platform.
According to a press release, the initiative, the first of its kind in Iraq’s financial market, supports the government’s vision to enhance transparency and modernise trading infrastructure in line with international best practices.
Karmal will deploy the global ZagTrader platform to manage its front, middle, and back-office operations, integrate AI technologies, and implement anti-money-laundering (AML) and E-KYC procedures. The system will provide a secure, efficient, and fully integrated trading environment.
CEO Waseem Al-Jazrawi said the project will boost investor confidence and strengthen Iraq’s financial market both regionally and internationally, praising the support from the Iraq Stock Exchange Board of Governors and the Iraqi Securities Commission (ISC). link
Relations: 10 banks are unable to return customer deposits, and lack of confidence keeps 80% of funds outside banks.
The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday (August 12, 2025), that about 80% of the Iraqi currency is stored outside banks in homes due to the lack of confidence in the banking system.
Al-Alaq explained in a press statement followed by “Baghdad Today” that “the reform document for the year (2025) aims to modernize banks according to international standards and attract global partnerships,” stressing that “the banking reform document represents a strategic step to enhance confidence in the Iraqi banking system and address shortcomings.”
He also revealed that only (10%) of the banks expressed reservations about the plan, while there are (10) banks under liquidation due to their inability to return customers’ deposits. link
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Government advisor: Great stability in the Iraqi market and inflation falling to less than 3%
The Prime Minister’s financial advisor, Mazhar Mohammed Salih, confirmed that the significant positive interaction in the Iraqi market has had a significant impact on its stability, noting that this success is evident in the decline in annual inflation rates to below 3%.
Saleh told Al Furat News Agency, “This remarkable decline in annual inflation rates indicates that expectations related to the exchange rate are moving toward calm and stability.”
He added, “The parallel currency exchange market has begun to clearly follow the official market, and this trend is expected to continue until the end of this year, based on current economic data.”
This development, according to Saleh, reflects “an improvement in overall economic performance and the success of monetary and government policies aimed at regulating markets and achieving the desired economic stability.” link
The Prime Minister inaugurates the Bismayah Gas Investment Plant.
Prime Minister Mohammed Shia al-Sudani inaugurated this morning, Monday, August 11, 2025, the additional expansion unit of the Bismayah Gas Investment Plant.
The Prime Minister’s Media Office noted that the expansion unit will add 300 megawatts to the station’s output, bringing its total capacity to 5,000 megawatts.
Bismayah Power Plant is located east of the capital, Baghdad, and operates on a combined cycle system. The plant consists of three stages, each stage consisting of six generating units, four of which are gas-fired and two steam-fired, which brings the total number of production units to 18 units (12 gas-fired units and 6 steam-fired units) with a total capacity of 4,500 megawatts link
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Source: Dinar Recaps
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