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The Shiite framework decides to withdraw al-Maliki’s candidacy – Arab media
A stormy meeting in Baghdad ends with a preliminary agreement within the Shiite framework to exclude Maliki from the race.
A leader in the Arab Television Coordination Framework reported on Tuesday (March 3, 2026) that the members of the framework reached a preliminary agreement in their meeting today to withdraw the nomination of Nouri al-Maliki for the presidency of the next Iraqi government and to choose an alternative to be determined later.
A senior official source told Network 964 that a stormy meeting of the Shiite framework ended this afternoon at the palace of Prime Minister Mohammed Shia al-Sudani, and the prime ministerial candidate Nouri al-Maliki decided to boycott it, citing that he was fasting and a little exhausted, but he stressed his refusal to issue any statement withdrawing his candidacy after the objections that accompanied the putting forward of his name and the international and regional circumstances. According to the report, al-Maliki repeated his suggestion that the members of the framework issue a statement announcing the withdrawal of al-Maliki’s candidacy, and he said that he would not object to that “because the decision is the decision of the largest bloc and he will not oppose it.”
The meeting comes hours after the head of the Supreme Judicial Council published an article that sparked significant reactions, in which he spoke about the Federal Court amending its interpretation of the largest bloc and granting the right to form the government to the first winner in the e-------s, which could mean a return of the opportunity for the current Prime Minister, Mohammed Shia al-Sudani, whose coalition won the largest number of seats. (LINK)
90% of the money supply is outside the banking system.
A large segment of the population tends to keep their money in cash at home, with some estimates suggesting that between 80 and 90% of the money supply circulates outside the banking system. Furthermore, most employees and retirees are keen to withdraw their full salaries as soon as they are deposited into their electronic payment cards.
These behaviors stem from several factors, most notably discouraging past experiences with some banks, inadequate modern banking services, concerns about the potential failure or collapse of some financial institutions, and the absence of a law guaranteeing deposits. This has weakened confidence in the banking system, hindered efforts toward financial inclusion and digital transformation, and fueled growing fears of online fraud.
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In addressing these challenges, the Iraqi Media Network, in cooperation with the Women’s Affairs Department of the Trade Bank of Iraq (TBI), organized an awareness seminar dedicated to discussing the risks of electronic fraud and promoting a culture of financial inclusion, in light of the expansion in the use of digital technologies and the increasing reliance on electronic transactions.
During the seminar, which was attended by “Al-Sabah”, participants stressed the importance of raising awareness among users of electronic payment cards, especially employees, about protection and prevention mechanisms to reduce fraud and scams, which contributes to enhancing confidence in electronic banking transactions and supporting financial stability.
In light of this issue, financial and economic expert Majed Abu Kalal explained that citizens’ tendency to withdraw their funds immediately after depositing them is linked to their actual daily spending needs, particularly among low-income employees who rely on their salaries to cover immediate obligations.
He also pointed to the limited availability of electronic payment devices, which compels many to hold cash. He added that the core of the problem does not lie in the payment cards themselves, but rather in the lack of trust in banks, as some customers fear for their money during financial crises.
Disadvantages of the banking system
In his interview with Al-Sabah, Abu Kalal explained that citizens are recalling past experiences in banking history, such as the freezing of deposits or the failure of some banks, which has reinforced the conviction among a wide segment of the population that keeping their money is essential.
Cash is safer.
He pointed out that the deposit guarantee system in Iraq is still weak and unconvincing to the public, stressing that the major government banks need a real and radical restructuring, not just formal procedures.
Services and financing
He stressed the need for a clear and effective legal guarantee for deposits with a realistic ceiling, along with the publication of transparent monthly reports on solvency and liquidity indicators to enhance credibility. He also called for offering attractive interest rates and genuine financing services that would give citizens a practical incentive to keep their money in banks.
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Abu Kalal concluded his remarks by emphasizing the importance of the state committing to a complete shift to bank payments instead of cash transactions, explaining that building trust requires effective protection and strict oversight, not merely imposing the use of electronic payment methods.
Deposit Guarantee
In a related context, academic Kazem Eidan pointed out the importance of finding a real guarantee for deposits, while activating the role of the Central Bank of Iraq in announcing the deposit guarantee in a clear and binding manner, as well as establishing or strengthening the bank deposit guarantee company and setting a clear guarantee ceiling for each depositor.
Eidan stressed to Al-Sabah the importance of announcing rapid intervention cases when any bank is in trouble in order to reassure citizens and repair the reputation of the banking sector, noting that there are reasons that have shaken the citizen’s confidence in banks, such as bankruptcy problems, weak transparency, and the neglect of publishing quarterly financial reports that are understandable to customers. He called for awareness campaigns through official and unofficial channels, stressing the importance of classifying banks according to clear performance standards, and punishing any bank that is proven to have manipulated them publicly.
Ways to boost confidence
He also called for the widespread deployment of POS terminals in markets and retail outlets, not just shopping malls, along with finding ways to strengthen trust between banks and citizens, offering real interest on current accounts, and providing affordable loans to those who deposit a portion of their salary in an account.
He pointed out that unless citizens are convinced that keeping their money in a bank is better than keeping it in cash at home, they will not change their financial practices. From his convictions and inclinations. (LINK)
Source: Dinar Recaps
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