Speaker of the Council of Representatives Haibat al-Halbousi chaired a meeting with the Parliamentary Finance Committee on Tuesday to review strategies for expanding non-oil revenues, modernizing customs operations, and developing national housing finance initiatives.

The session brought together parliamentary lawmakers, Director General of the General Customs Authority Dr. Thamer Qasim Dawood, and Director General of the Real Estate Bank Abbas Shihab Ahmed to evaluate ongoing institutional reforms.

Customs Modernization and Tariff Standardization

During the proceedings, Speaker Al-Halbousi stated that current economic conditions require close legislative and administrative coordination to amend governing financial laws and bolster non-oil revenue sources.

Dr. Dawood delivered a briefing outlining the General Customs Authority's financial performance and duty collection metrics across 2023, 2024, and 2025. He detailed operational progress regarding the implementation of the Automated System for Customs Data (ASYCUDA), noting that digital customs processing has generated steady revenue returns.

Key policy priorities highlighted during the customs review included:

• Digital System Rollout: Expanding the ASYCUDA platform to streamline clearance procedures and combat revenue leakage.
• Tariff Harmonization: Unifying customs tariffs across all governorates to create a standardized national trade framework.
• Legislative Review: Re-evaluating existing customs exemptions, special licensing round contracts, and legislative amendments to the national Customs Law.

Following the briefing, the Parliamentary Finance Committee formally requested written submissions from the General Customs Authority detailing exception criteria for entities currently receiving customs exemptions.

Real Estate Bank Operations and Housing Initiatives

In a separate briefing, Director General Abbas Shihab Ahmed reviewed the Real Estate Bank's operational protocols and mortgage financing mechanisms. He highlighted positive economic indicators stemming from the Central Bank of Iraq's residential lending initiative, emphasizing its role in supporting residential complex construction, stimulating broader economic activity, and creating local employment.

Committee members affirmed the strategic importance of expanding access to housing loans both within organized residential complexes and across standalone developments. The committee also examined total capital available under the national housing initiative, alongside execution criteria governing private sector investment projects.