Archive | Iraq Banking & Finance News

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

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Turkey: The Most Desired Citizenship Program among GCC Expats

Advertising Feature By Veronica Cotdemiey, CEO of Citizenship Invest. Turkish Nationality: The Most Desired Citizenship Program among GCC Expats Citizenship by Investment programs have been witnessing some major changes and one of them is the introduction of the new Turkish citizenship program which was published on the Official Gazette and entered into force in September […]

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Rebuilding & Reconstruction – Iraq – Delivering the Vision

 Rebuilding & Reconstruction – Iraq – Delivering the Vision Register Now IBBC returns to Dubai on 25 November with a full agenda of expert speakers to discuss the most important issues facing Iraq’s economy. Baroness Nicholson of Winterbourne, President of IBBC and The Prime Minister’s Trade Envoy to Iraq, Azerbaijan, Turkmenistan & Kazakhstan will open the conference, alongside […]

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Designing Public Financial Management Reform in Iraq

The Al-Bayan Center for Planning and Studies has just published a new report by Ali Al-Mawlawi on reform of public financial management in Iraq: Designing a Successful Approach to Public Financial Management Reform in Iraq The path to recovery and reconstruction in post-conflict Iraq is fraught with pitfalls. The new government will need to tread […]

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Iraq’s 2019 Draft Budget Analysis

The Iraq Energy Institute has just published a new report by Robert Tollast, Yesar Al-Maleki and Harry Istepanian on reform of public financial management in Iraq: Iraq’s first draft budget for 2019 shows an overall increase in spending of 23% compared to 2018. Oil revenues still dominate sources of revenue, projected at 89% of government finances. […]

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Iraq’s Foreign Reserves top $60bn

By John Lee. The Central Bank of Iraq (CBI) has announced that the county has foreign reserves exceding 60 billion dollars. In a statement on Wednesday, the bank said the reserves are “a result of the fiscal and monetary policies adopted by the Central Bank over the past years to stabilize the general financial situation, […]

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US Treasury Sanctions Iraq-based Money Services Business

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions today on Afaq Dubai, an Iraq-based money services business (MSB) that has been moving money for the Islamic State of Iraq and Syria (ISIS). Today’s designation follows action taken by the Department of Defense—announced on October 11—against a key ISIS financial […]

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Iran “ready to establish Joint Bank with Iraq”

By John Lee. Iran’s private banks have reportedly laid the groundwork for setting up a joint bank with their counterparts in Iraq. Yahya Al-e Es’haq [Yahya Ale-Ishaq] (pictured), head of Iran-Iraq Chamber of Commerce, is quoted as saying that the bank would operate under the regulations of central banks of the two countries to facilitate […]

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Iraq issues new Banknote Designs

By John Lee. The Central Bank of Iraq (CBI) has released a series of new banknote designs, which will enter circulation next week. According to a report from Rudaw, the notes are intended to modernise the currency and better reflect the nation’s heritage and diversity. It adds that the CBI does not plan to recall […]

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Towards Women’s Economic Empowerment in Iraq

The World Bank Group, the Government of Iraq, and the Government of Canada launched today a US$1.95 million grant to support Iraq’s efforts to strengthen systems and deliver programs to empower women economically and politically. The “Gender and Social Protection in Iraq: Towards Economic Empowerment” program consists of two complementary components: the first component will […]

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