Archive | Iraq Banking & Finance News

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

IBBC Autumn Conference 2017: ‘Together We Build Iraq’

IBBC Autumn Conference 2017: ‘Together We Build Iraq’ 12 November 2017, The Address Dubai Marina, Dubai The Iraq Britain Business Council (IBBC) is pleased to invite you to the IBBC Autumn Conference at The Address Hotel Dubai Marina, United Arab Emirates, on Sunday 12 November 2017. This years’ event follows IBBC’s successful inaugural conference of 2016 held in […]

PM Pushes for Budget Cuts

By John Lee. Prime Minister Dr. Haider Al-Abadi has chaired a meeting to review the draft general budget for 2018. At the meeting, which was attended by a number of senior officials from the Ministry of Finance, he stressed the importance of reducing operating expenses to ensure that salaries, pensions and social protection benefits can […]

CBI Stops Dollar Sales, Foreign Currency Transfers to Kurdistan

By John Lee. The Central Bank of Iraq (CBI) announced on Tuesday that it will block foreign currency transfers to Iraqi Kurdistan, and stop selling dollars to four major Kurdish banks. The decision part of an effort to put pressure on Iraqi Kurdistan after its population voted overwhelmingly in favour of breaking away from Iraq […]

IMF Staff Concludes Visit on Iraq

The Iraqi authorities and the staff of the International Monetary Fund (IMF) held discussions in Amman from September 17 to 28, 2017 on the third review of Iraq’s 36-month Stand-By Arrangement (SBA). The IMF Executive Board approved the SBA on July 7, 2016 (See Press Release No. 16/321), and completed the second review on August […]

Which Countries offer a Passport without Migrating?

Advertising Feature By Veronica Cotdemiey, CEO of Citizenship Invest. Citizenship with no commotion: Which countries offer a passport without migrating? The vast majority of people believe that the process of obtaining a second citizenship or another nationality is long and tedious. Most look to countries such as the US, Canada, Australia and the UK, along […]

Central Bank runs course on Combating Money Laundering

By John Lee. The Central Bank of Iraq (CBI) has organized a course on combating money laundering, terrorism financing, compliance and risk management. The course was held from 17th to 20th September at the Central Bank building, under the supervision of the banking studies center. Sixty-one employees from government, private banks and money transfer companies […]

World Bank gives $200m for Stability in Liberated Areas

The Ministry of Labour and Social Affairs announced that the World Bank has allocated $200 million to implement an emergency project to support stability in the liberated areas. An official spokesman for the Ministry of Labour and Social Affairs stated: “The World Bank has allocated $200 million for the implementation of the emergency project to […]

Central Bank to Tackle Hoarding of Iraqi Dinars

By John Lee. The Central Bank of Iraq (CBI) has held symposium entitled “Analysis of the phenomenon of Hoarding in Iraq“, addressing the problem of people hoarding Iraqi dinars (IQD), and not making them available to the banking system. During the seminar, the Governor of the Central Bank, Dr. Ali Mohsen Ismail (pictured), pointed out […]

How Iraqi Entrepreneurs can Raise Startup Money Without a Loan

By Hal Miran, Editor-in-Chief, Bite.Tech. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. How Iraqi Entrepreneurs can Raise Startup Money Without a Loan Raising money for your business is always a challenge. Every startup must prepare and plan in detail how they intend to raise […]

US Collaborates with Iraq to Sanction ISIS Finance Emir

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken action targeting Salim Mustafa Muhammad al-Mansur (Mansur), an Islamic State of Iraq and Syria (ISIS) finance emir. Mansur was designated as a Specially Designated Global Terrorist pursuant to Executive Order 13224 for acting for or on behalf of ISIS. As a […]