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Shafaq News
04-07-2025
- Politics
- Shafaq News
Kirkuk's living archive: The man behind the books
Shafaq News – Kirkuk Within the storied streets of Kirkuk— the Iraqi city once known as 'Arrapha' for its ethnic mosaic and deep history —Bakr Latif Hussein, now in his sixties, has built more than a bookstore. In a quiet corner of this diverse city, he guards a literary trove with books in Kurdish, Arabic, Turkmen, and English—each title a thread in Kirkuk's fading cultural tapestry. His journey began decades ago on the sidewalk outside Rafidain Bank, where he sold books from a modest stall on Al-Jumhuriya Street. Over time, that humble display grew into one of Kirkuk's most beloved literary havens. 'Books aren't just paper,' he told Shafaq News. 'They are part of a person's soul. Despite the digital flood, paper holds a magic that keeps us tied to our intellectual core.' Hussein still opens his doors daily, undeterred by shrinking foot traffic or the dominance of screens. His mission was never about profit—it has always been about purpose. He remembers the grinding years of the 1990s, when economic sanctions 'devoured green and dry alike,' and many intellectuals were forced to sell their books just to survive. Still, he recalls 2003 as a hopeful turn: books became more affordable, printing technology improved, and Iraq reconnected with global knowledge sources. 'But that revival didn't last,' he reflected. The rise of ISIS in 2014 dealt a brutal blow to Iraq's cultural life, especially in Kirkuk. Then came the events of October 17, 2017, when federal forces entered the city and Kurdish political parties withdrew—a shift that, according to Hussein, 'changed the atmosphere' and led to a steep decline in Kurdish and even Arabic book sales. 'Kirkuk holds nearly two million people,' he noted, 'but you'd struggle to find even 20,000 genuine readers. That's heartbreaking. This city once lit the way for poets and thinkers—it gave us the legendary Kirkuk Literary Group.' Yet hope lingers in small moments. Turkmen families, he observed, are the most devoted to encouraging reading among children. 'They see books as a way to pull kids away from screens and improve their mental well-being. Kurdish families follow, then Arabs.' Even in quiet seasons, the ambitious man continues his work without complaint. 'We may not sell like we used to,' he said, 'but we still offer hope and thought—and that's worth more than any profit.' To many of his customers, he is more than a bookseller. 'For over a decade,' said Hawkar Mohammed, a Kurdish language teacher and loyal visitor, 'I've come not just for books, but for the spirit of the place. It's not a shop—it's Kirkuk's soul. A living archive that remembers its thinkers and dreamers.' He marvels at Hussein's uncanny ability to match readers with the right book. 'Sometimes I visit just to talk, but after ten minutes, I leave with two or three titles. His passion reawakens yours.' In a world of constant noise, the elderly bibliophile remains steady—a guardian of Kirkuk's cultural memory, and a quiet beacon for those still drawn to the written word.
Iraqi News
09-06-2025
- Business
- Iraqi News
Iraq to ban cash payments at government institutions
Baghdad ( – The advisor to Iraqi Prime Minister Saleh Salman declared on Monday that cash payments at government institutions will be prohibited beginning next month, while private banking reforms will be adopted. Salman told the Iraqi News Agency (INA) that the Iraqi government has engaged Ernst & Young to restructure six or seven of the country's state-owned banks, including the Industrial Bank of Iraq, the Real Estate Bank of Iraq (REB), Rafidain Bank, and Rasheed Bank. The Iraqi official clarified that the Trade Bank of Iraq (TBI) has reached an agreement with K2i and KPMG to assist in restructuring its internal and external operations to match international standards. Rafidain Bank, Iraq's largest government institution, would be renamed Rafidain First Bank, with the government's holding decreased to less than 24 percent, according to Salman. Salman stated that the remaining shares will be offered to private banks and foreign investors. He expects the Iraqi government to finalize and implement the restructuring plan by the end of 2025. Salman underlined that Iraq has made considerable progress in the use of electronic payment methods, with financial inclusion increasing from less than 10 percent in 2018-2019 to almost 40 percent. All government payments will be conducted electronically starting next month, with payments in cash banned in government institutions. Government reforms aim to reintegrate Iraqi banks into the global financial system after decades of isolation owing to sanctions and frozen assets.
Iraq Business
07-06-2025
- Business
- Iraq Business
Iraq announces Major Banking Sector Overhaul
By Padraig O'Hannelly. Iraq is embarking on a comprehensive restructuring of its banking sector with the assistance of leading international consultancy firms, according to Dr Salih Salman, Advisor to the Iraqi Prime Minister, speaking at the Iraq Britain Business Council (IBBC) Spring Conference in London on Tuesday. The Iraqi government has appointed Ernst & Young to restructure six of the country's seven state-owned banks, including the Industrial Bank, Real Estate Bank, Rafidain Bank, and Rasheed Bank. The Trade Bank of Iraq (TBI) has separately engaged K2i and KPMG to help restructure its internal and external operations to meet international standards. Dr Salman revealed that Rafidain Bank, Iraq's largest state-owned institution, will be reincarnated as the First Rafidain Bank with government participation reduced to less than 24 per cent. The remaining shares will be offered to private banks and international investors. The restructuring plan is expected to be finalised and approved by the Iraqi government by the end of the year. The private banking sector is also undergoing reform following a contract signed between the Central Bank of Iraq (CBI) and Oliver Wyman. This two-to-three-year project will result in recommendations for private banks to either exit the sector, comply with international standards, or merge with other institutions. Iraq has made significant progress in electronic payment systems adoption, with financial inclusion rising from less than 10 percent in 2018-2019 to approximately 40 percent currently. The number of debit and credit cards has reached 60,000-70,000, whilst bank accounts have grown to 22-23 million. From June 2025, all government payments will be made electronically, with cash payments prohibited across government institutions. The Iraqi government has launched awareness campaigns to encourage public adoption of electronic payment systems, moving away from the traditional cash-based culture. The government has also introduced the Riyada programme, operated in partnership with the Central Bank of Iraq, to provide financing and training for small and medium enterprises. The initiative offers a registration platform where participants can access training and potential financing opportunities. Dr Salman emphasised that Iraq remains open to foreign investment and international consultancy services across all sectors, including legal, financial, accounting, auditing, and compliance services. The reforms aim to integrate Iraqi banks into the global financial system after decades of isolation due to sanctions and frozen assets. Since November 2022, all bank transfers in Iraq have been processed through a Central Bank platform in cooperation with the Federal Reserve of the United States, marking Iraq's re-entry into global financial systems. The country now works with approximately 30 overseas banks, though challenges remain in opening international banking relationships. The comprehensive banking reforms represent a significant shift towards international standards and greater private sector participation in Iraq's financial sector. (Picture credit: IBBC)
Shafaq News
07-05-2025
- Business
- Shafaq News
Iraq's digital leap: E-Payments surge for government
Shafaq News/ Rafidain Bank reported a sharp increase in electronic payment settlements for government institutions in early 2025. In a statement on Wednesday, the bank revealed that total settlements reached 2.65 trillion Iraqi dinars (about $2B) in the first four months of the year, up from 772 billion dinars during the same period in 2024, marking a 244% year-on-year growth. This surge, according to the statement, was driven by the expansion of government entities adopting the e-collection system, which grew from 1,395 departments in March 2024 to 1,808 by March 2025, the statement said. April 2025 alone accounted for 654 billion dinars, the highest monthly total to date—more than double the 314 billion dinars posted in April last year. Rafidain noted that the increase reflects rising trust in its digital services and greater efficiency across public-sector transactions. The bank said the performance aligns with national goals to modernize financial infrastructure, enhance revenue collection, and strengthen transparency and governance in public finance.
Iraq Business
05-05-2025
- Business
- Iraq Business
Iraqi PM directs Banks to Accelerate Reforms
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired a high-level meeting with the heads of Iraqi banks on Monday, reaffirming his government's commitment to banking reform as a pillar of broader economic revitalisation. He directed all banks to simplify procedures, embrace modern technologies, and encourage public confidence by stimulating deposits. The Prime Minister announced that Rafidain Bank will soon relaunch with a new strategy in partnership with reputable international banks. He also confirmed that private auditing firms have been contracted to assess all banks as part of a comprehensive reform programme. Al-Sudani called for a roadmap to strengthen the private banking sector, which he described as vital to Iraq's development, and stressed that the state would increasingly play a regulatory rather than interventionist role. He urged banks to invest in development projects, seek international partnerships, and channel import-related spending into local production to support domestic industry. Bank executives welcomed the government's reform agenda and reported significant progress, including a rise in electronic payments from 1.7 trillion dinars in 2020 to 21 trillion dinars in 2024. They confirmed support for the Oliver Wyman bank restructuring plan and offered to assist in domiciling private-sector salaries. (Source: Media Office of the Prime Minister)
