The new flag, designed by artist Rifaat al-Shadershi, would be white with two blue stripes at the bottom representing the Tigris and the Euphrates, separated by a yellow stripe in a nod to the country’s Kurdish population, spokesman Hamid al-Kifai said.
A crescent in the middle symbolises Islam, but its colour, a toss-up between gold and red, is yet to be finalised, Mr Kifai said.
The final version of the flag will be unveiled today.
The colours of Iraq’s 1952 flag were inspired by the traditional banners of Arab tribes, and are the same as those of Egypt, Jordan, Kuwait, Syria, Yemen and the Palestinian Authority.
“Black is our reality, white are our deeds, green are our fields and red are our blades,” says a famous poem by Safieddin Hilli.
Ousted president Saddam Hussein added “Allahu Akbar” (God is great) to it in 1991, which was removed by the US-led coalition last April.