Archive | Iraq Banking & Finance News

Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.

ISIL in “Deep Financial Trouble”

According to a report released by London-based International Centre for the Study of Radicalization (ICSR) and accounting group Ernst & Young, the Islamic State organisation (IS, ISIS, ISIL, Daesh) is in deep financial trouble. In an interview, ICSR director Peter Neumann stated out that the report clearly shows that while IS used to be the […]

Japan approves $100m Loan to Iraq

Japan has approved a loan of about $100 million to support humanitarian, counter-terrorism and infrastructure projects in Iraq, a Japanese embassy statement said on Tuesday. In January, Japan approved loans worth $240 million to Iraq to rebuild damaged electricity infrastructure in areas recaptured from Islamic State. Iraq’s government income, which comes almost exclusively from oil […]

New Funding for Economic Reform in Iraq

The United Nations Development Programme (UNDP) signed a project document today in Baghdad with the Office of the Prime Minister of Iraq to establish a Funding Facility for Economic Reform (FFER). Through the Facility, UNDP will support the Government of Iraq to address key economic challenges and invigorate the reform agenda. Diversifying the economy, increasing […]

ShaMaran Arranges new Fundraising

ShaMaran Petroleum has announced that it that it has successfully completed the book build for the equity issue (the “Private Placement”) announced on January 19, 2017, on a private placement basis, of common shares of the Company (“Common Shares”). The pricing of the Private Placement was determined during the book-building process to be CAD 0.10 […]

IMF Reviews Progress in Iraq

The Iraqi authorities and the staff of the International Monetary Fund (IMF) held discussions in Baku, Azerbaijan from January 15–19, 2017 ahead of the second review of Iraq’s 36-month Stand-By Arrangement (SBA) that the IMF Executive Board approved on July 7, 2016 ( See Press Release No. 16/321). The first review under the SBA was […]

Currency Auction Results, 19th Jan

By John Lee. The Central Bank of Iraq (CBI) has reported that 33 banks and 17 remittance companies took part in its currency auction on Monday. A total of $160,461,658 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)

Currency Auction Results, 16th Jan

By John Lee. The Central Bank of Iraq (CBI) has reported that 31 banks and 16 remittance companies took part in its currency auction on Monday. A total of $159,104,757 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)

Japan agrees $240m Loan to Iraqi Electricity Sector

By John Lee. Reuters reports that Japan has agreed to lend Iraq up to 27.2 billion yen ($240 million) to rebuild damaged electricity infrastructure, especially in areas recaptured from the Islamic State group (IS, ISIS, ISIL, Daesh). It also intends to approve another loan worth 21.5 billion yen to repair a thermal power station in […]

Currency Auction Results, 11th Jan

By John Lee. The Central Bank of Iraq (CBI) has reported that 34 banks and 17 remittance companies took part in its currency auction on Wednesday. A total of $153,971,978 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)