01 | Iraq tightens travel dollar purchase limits

As of 2026-10-19, Iraqi residents face clearer limits on the frequency and amount of US dollars they can purchase for travel, requiring travellers and businesses connected to them to reassess their foreign-currency arrangements. The Central Bank of Iraq’s new rules took effect on October 18. Eligible travellers may purchase up to $2,000 every two months, no more than six times per year.

The Central Bank of Iraq said the measure is intended to regulate access to foreign currency and ensure it reaches eligible recipients under previously announced guidelines. Frequent cross-border travellers will need to plan the timing of their purchases more carefully. Businesses should also avoid treating personal travel allowances as a flexible source of foreign currency for short-term needs.

Source: Iraq Business News, 2026-10-18

03 | Markets focus on Türkiye’s October 22 interest-rate decision

Türkiye’s October 22 rate decision may continue the easing cycle, although the inflation path still constrains the room for cuts. Most economists expect the Central Bank of the Republic of Türkiye to lower its policy rate by 100 basis points. At its September meeting, the bank held the one-week repo rate at 37%.

The consumer price index rose 29.73% year on year in September, below the market forecast of 30.3%, and increased 1.84% month on month. A survey of market participants also showed an average expectation of another 100-basis-point cut in December. Brokerages said lower annual inflation and cooling domestic demand had created room for fourth-quarter easing, but the scope could narrow if the inflation outlook failed to improve as expected. Near-term inflation readings and changes in inflation expectations will shape the pace of easing.

Source: Hürriyet Daily News, 2026-10-18

04 | Middle East supply concerns push oil to $110 a barrel

Pressure in crude and diesel markets remains concentrated in high prices, depleted inventories and disrupted transport routes; reserve releases and recovering exports have not eliminated volatility. Brent crude touched $110 a barrel on October 16 and settled at $109.86, up 3.72% for the day. West Texas Intermediate settled at $101.41, a daily gain of 3.55%.

The International Energy Agency has agreed to release more than 20 million barrels from reserves, while G7 leaders pledged to accelerate the release of 100 million barrels of diesel and other reserves. Middle East crude exports have recovered to pre-crisis levels, and global oil inventories are not tight, but diesel inventories are not expected to recover until the second half of 2027. Gulf producers are extending ship-to-ship transfers to the Indian coast and cutting prices to maintain supplies to Asia, showing how congestion and attacks around the Strait of Hormuz continue to alter export routes.

Source: The National, 2026-10-16

05 | Egypt approves six fintech companies for non-bank financial services

This round of approvals covers securities services, SME finance, consumer finance and technology outsourcing, showing that digital access to Egypt’s non-bank financial sector is moving into specific business categories. The Financial Regulatory Authority approved six companies to conduct activities using fintech. They include securities custody by Welzi Financial Holding, digital securities operations by Welzi Securities Trading, and two fintech start-ups focused on SME finance under Paymob and MIDBANK.

Fawry was registered as a fintech outsourcing service provider, but its services are restricted to affiliated companies. Souhoola, the consumer finance arm of Banque Misr, was authorised to operate through V-Lens. The approval came after the Financial Regulatory Authority suspended new applications to establish and license fintech-based consumer finance companies under Decision No. 43 of 2026. Souhoola was included because it had applied before the suspension.

Source: Daily News Egypt, 2026-10-18

06 | Egypt expands fintech licensing as six companies receive approval

With six companies approved, fintech use in Egypt now extends further into lending, investment and other non-bank financial services. The regulatory objective is to broaden access to formal financial services and advance digital delivery. The approved businesses include two Welzi companies, two SME finance start-ups, Fawry and Souhoola operating through V-Lens.

The Financial Regulatory Authority said non-bank finance accounts for about 54% of Egypt’s financial system and includes capital markets, insurance, real estate finance and leasing. These approvals bring digital tools into more non-bank financial activities and add formal financing channels for consumers and SMEs.

Source: Egyptian Streets, 2026-10-18

Other updates

  • 07 | Egypt establishes an investor facilitation unit and addresses foreign work permits: Egypt’s Ministry of Labor has launched an “Investor Facilitation Unit” to streamline regulatory procedures and pledged to coordinate solutions to foreign work-permit issues, supporting Japanese businesses operating in Egypt that plan to expand. (Source: Daily News Egypt, 2026-10-18)
  • 08 | Türkiye and the EU strengthen co-operation on green transition and CBAM: Türkiye and the EU confirmed plans to work more closely on green transition, the circular economy and the Carbon Border Adjustment Mechanism, while continuing co-ordination on emissions trading and integrated supply chains. (Source: EUROMETAL, 2026-10-16)
  • 09 | Türkiye plans stronger laws against capital-market crime by early 2027: Türkiye plans to complete legal amendments by early 2027 to strengthen enforcement against capital-market crime and co-ordinated fund transactions while improving market transparency. (Source: Hürriyet Daily News)
  • 10 | Türkiye’s fund liquidation plan would prioritise smaller investors: A fund liquidation bill approved by a Turkish parliamentary committee would prioritise interim payments to smaller investors, with a limit of 1 million Turkish liras per investor in each round. The bill still requires approval by parliament’s general assembly. (Source: Hürriyet Daily News)
  • 11 | Abu Dhabi launches a Green Visa information page for foreign applicants: The Abu Dhabi government portal now has a Green Visa page for foreign investors and business partners, directing applicants to submit through the Federal Authority for Identity, Citizenship, Customs and Port Security website. (Source: YEN.com.gh, 2026-10-16)
  • 12 | Abu Dhabi publishes an official Green Visa application guide: Abu Dhabi’s dedicated Green Visa page explains the application route for foreign investors and business partners and advises applicants to check the eligibility criteria and supporting documents for their category. (Source: TUKO, 2026-10-16)
  • 13 | Abu Dhabi opens an online Green Visa route for foreign applicants: The Abu Dhabi Department of Economic Development platform has published Green Visa guidance. Applicants must follow the rules of the Federal Authority for Identity, Citizenship, Customs and Port Security and begin the process through its official portal. (Source: Legit.ng, 2026-10-16)
  • 15 | Iraq receives its first transit shipment using an Iraqi truck and local TIR carnet: Iraq received its first international transit shipment carried by an Iraqi truck under an Iraqi-issued TIR carnet. The shipment departed Türkiye and was bound for the UAE. (Source: Baghdad Today)
  • 16 | US sanctions an Iraqi bank over alleged links to an Iranian financial network: The US Treasury sanctioned Iraq-based International Development Bank for Investment and Finance, alleging that it participated in Iran’s international financial network and helped Iran obtain US dollars. (Source: Iraq Business News, 2026-10-19)
  • 19 | Saudi Arabia’s 2027 pre-budget statement projects a SAR 191 billion deficit: The preliminary plan projects expenditure of SAR 1.392 trillion, revenue of SAR 1.202 trillion and a published deficit of SAR 191 billion, equal to 3.6% of GDP. (Source: Saudi Vision 2030 Intelligence Platform, 2026-10-16)
  • 20 | Hormuz disruption shifts food imports to overland routes: Iraq’s Trade Ministry has rerouted some food imports through alternatives including Türkiye and the Rabia border crossing because of disruption in the Strait of Hormuz. Some deliveries could take up to 90 days, with higher freight, insurance and fuel costs. (Source: 964media, 2026-10-18)
  • 21 | New platform set to double Türkiye’s Black Sea gas output: The Osman Gazi floating production platform has departed for the Sakarya Gas Field. Turkish authorities expect it to raise Black Sea gas production to 20 million cubic metres per day after operations begin. (Source: Hürriyet Daily News)
  • 22 | Türkiye’s 2027 budget proposal sets a 4.2% growth target: The proposal targets economic growth of 4.2% in 2027, up from a projected 3.3% in 2026, with an improving global outlook and recovering external demand expected to support expansion. (Source: Hürriyet Daily News)
  • 23 | Dubai’s real GDP falls to Dh473 billion in the first half of 2026: Dubai recorded real GDP of Dh473 billion in the first half of 2026, down 2.3% year on year, while 8.8% growth in finance and insurance provided a buffer. (Source: The National, 2026-10-18)
  • 24 | Finance and construction cushion Dubai’s first-half contraction: Dubai’s real GDP declined from Dh484 billion in the first half of the previous year to Dh473 billion in the first half of 2026, while banking, insurance, healthcare and construction continued to grow. (Source: Gulf News, 2026-10-18)
  • 25 | Global jet fuel prices more than double in one year: The International Air Transport Association’s price monitor put the global average at $190.18 a barrel for the week ending October 9, 2026, up 111.2% year on year. (Source: Gulf News, 2026-10-18)
  • 26 | Planned Fujairah terminals could cut some Indian Ocean sailings by up to five days: DP World said its proposed Fujairah terminals would give cargo owners another UAE east-coast gateway and could shorten some Indian Ocean services by up to five days. (Source: Gulf News, 2026-10-16)
  • 27 | Syria and the World Bank agree to establish a recovery and reconstruction fund: Syria and the World Bank agreed to create a multi-donor trust fund for the country’s recovery and reconstruction. (Source: The National, 2026-10-18)
  • 28 | Egyptian aquaculture products gain access to all 27 EU markets: Egypt secured approval to export aquaculture products to all 27 EU member states after meeting the bloc’s technical and regulatory requirements. (Source: Daily News Egypt, 2026-10-18)
  • 29 | Egyptian farmed fish gains EU-wide export approval: Egyptian aquaculture products received access to all 27 EU markets, with the decision published in the Official Journal of the European Union under Regulation (EU) 2021/405. (Source: Egypt Independent, 2026-10-16)
  • 30 | Central Bank of Iraq raises housing loan allocation to 3 trillion dinars: The Central Bank of Iraq increased the housing lending ceiling from 1 trillion dinars to 3 trillion dinars while retaining the existing operating, repayment and credit conditions. (Source: Iraqi News, 2026-10-18)

Last updated: October 2026. This content is for informational purposes only and does not constitute legal or tax advice.