Archive | Iraq Banking & Finance News

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

Cyprus: A Powerful Investment brings a European passport

Advertising Feature By Veronica Cotdemiey, CEO of Citizenship Invest. Recently Cyprus has been recognized as the ‘super star’ of the citizenship by investment programs worldwide. The country has the most appealing second citizenship program being the only European country which grants the nationality in only 6 months without ever having to reside there. Cyprus has […]

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IBBC hosts Members’ Dinner in Baghdad

The Deputy Chairman of the Iraq Britain Business Council (IBBC), Rasmi Al Jabri, and Managing Director, Christophe Michels, hosted a dinner for members and guests at the Babylon Warwick Hotel in Baghdad on 29th August. Many representatives from member companies were in attendance, including the Chairman of Khudairi Group and the International Islamic Bank, the […]

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TBI puts Bank Acquisition Plans on Hold

By John Lee. The state-owned Trade Bank of Iraq (TBI) has reportedly put plans to buy a Turkish commercial bank on hold because of the fall in the Turkish lira. TBI chairman Faisal al-Haimus told Reuters that the bank is keen to expand its footprint in Turkey, Iraq’s largest trading partner. According to the report, TBI has […]

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KRG Cabinet discusses 2019 Budget

Prime Minister Nechirvan Barzani chaired the 49th regular session of the Council of Ministers on Tuesday. It was also attended by Deputy Prime Minister Qubad Talabani. Prime Minister Barzani briefed the Council about his recent visit to Baghdad and meeting with Prime Minister Haider al-Abadi. He said, they agreed to continue dialogue and coordination and […]

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Understanding Iraq’s Debt

By John Lee. The Al-Bayan Center for Planning and Studies has just published a new report from our Expert Blogger Ahmed Tabaqchali. Entitled “Understanding Iraq’s debt: An overview of its status, outlook and origins“, the report argues that much of that debate about Iraq’s debt is out of context, mixes loosely related facts and figures […]

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Citizenship and Residency Programs made Simple

Advertising Feature By Veronica Cotdemiey, CEO of Citizenship Invest. Obtaining a dual a nationality or second citizenship has long been a significant goal for many families in the Middle East. The constant struggle of not being able to travel freely; being scrutinized by immigration and governmental entities; as well as being a citizen of countries […]

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IBBC holds annual Cumberland Lodge Conference

IBBC holds annual Cumberland Lodge Conference with Political, Academic, Education and Business Experts, 6-8 July The Iraq Britain Business Council hosted its annual Cumberland Lodge Retreat on 6-8 July, inviting a host of political, business, academic and education experts to discuss the most pertinent issues relating to Iraq and its future. The title of the […]

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GKP Completes $100m Bond Issue

Gulf Keystone Petroleum Ltd., operator of the Shaikan Field in the Kurdistan Region of Iraq, has announced the successful completion of the private placement of a 5-year senior unsecured $100 million bond issue (the “New Notes”). The New Notes will be issued at 100 percent of par and carry a 10 percent fixed semi-annual coupon. […]

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“Steady Increase” in the Iraqi Dinar

By John Lee. There has been a steady increase in the market price of the Iraqi Dinar (IQD) versus the USD, according to an Iraq Business News Expert Blogger. In his market report for the month of June, Ahmed Tabaqchali said the premium over the official exchange rate has fallen to 1.2 percent, the lowest […]

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Iraq no longer subject to FATF Monitoring

By John Lee. The Financial Action Task Force (FATF) has congratulated Iraq for the significant progress made in addressing the strategic deficiencies in the areas of anti money laundering (AML) and countering the financing of terrorism (CFT) identified earlier by the FATF and included in its action plan. Iraq will no longer be subject to […]

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IFC arranges $269m Financing for Zain Iraq

The International Finance Corporation (IFC), a member of the World Bank Group, is providing a financing package of $269 million to Zain Iraq, a leading mobile network operator, to help reconstruct the country’s telecom operations and spur economic growth. IFC arranged a $269 million debt package including $100 million from IFC’s own account, and $169 […]

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