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GP Q
@argosaki
IRAQ
Iraq’s banking cleanup is not a rumor.
The Central Bank is running it in public.
Governor Nizar Nasser Hussein has said: the reform program is still underway, coordinated with Oliver Wyman and aimed at a more competitive sector that is open to the international financial system.
Separately, Baghdad and the US 🇺🇸 Treasury reached an understanding to return restricted banks to non-dollar correspondent channels once compliance and governance tests are met.
Seven banks are already qualified for that channel.
Dollar access comes later, only after further relicensing.
Cabinet formation is a separate, real process.
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Parliament confirmed Ali al-Zaidi’s government on 14 May 2026 with 14 of 23 ministers in place.
Interior, Defense and other posts remain vacant while parties bargain over names.
Neither point is a rate event.
One is a compliance rebuild.
The other is unfinished cabinet arithmetic.
Sources
CBI, reform still running:
https://cbi.iq/news/view/3314
CBI, seven banks back into correspondent channels:
https://cbi.iq/news/view/3263
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Council of Representatives:
https://iq.parliament.iq/en/
Source(s):
• https://x.com/argosaki/status/2106233314642460975
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