Archive | Iraq Banking & Finance News

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

Iran to Open Bank in Baghdad

The Central Bank of Iraq has given permission to the Parsian and Karafarin Iranian banks to open offices in Baghdad, according to local agency reports. The banks were given a month to determine the place of offices and to transfer their capital to Iraq. ( Trend )

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Irregularities Uncovered in Salah al-Din Council

The Board of Supreme Audit has discovered financial irregularities in the Salah al-Din provincial council, an official statement said on Thursday. This came during a session headed by the board’s president, Abdulbaset Turkey, to discuss the 2009 financial statements of the council, according to a statement received by Aswat al-Iraq news agency. The session has […]

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Banks Cancel Holiday

The state-run banks in Thi-Qar province have canceled their Saturday holiday and extended their working hours until 05:00 p.m. in an attempt to serve more clients. This decision came after Governor Taleb al-Hassan had met with retired people who were queuing for a long wait to receive their salaries, according to a statement released by […]

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Most of the Projects in Iraq Are a Failure – Official

Most of the projects that have been conducted in Iraq are a “failure” due to the lack of a clear vision by the ministry of planning and absence of inter-ministerial cooperation, an advisor to the minister of industry and minerals said on Tuesday. “The projects that are currently being carried out in Iraq are a […]

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Barzani Urges UAE to Invest in Kurdistan

President of Iraq’s Kurdistan region, Massoud Barzani, urged UAE companies to invest in the Kurdistan region, a presidential statement said on Tuesday. “Barzani received on Tuesday (March 16) at the Salah el-Din resort in Arbil the Ambassador of the UAE to Iraq, Sheikh Abdullah Ibrahim,” said the statement received by Aswat al-Iraq news agency. “The […]

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Recovery of Economic Activity in Talafar – Mayor

The mayor of Talafar said on Tuesday that the economic activity in Talafar has recovered recently because of the security stability in the district. “The commercial movement has returned to the Talafar’s markets after the recent security stability in the district,” Abdulaal al-Ubeidi told Aswat al-Iraq news agency. “We hope to regain our position as […]

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Basra Governor talks to French

The governor of Basra has met with the French ambassador in the country, Boris Boillon, to discuss means of boosting economic and cultural cooperation. “The meeting with the French ambassador and his accompanying delegation, which took place today, tackled bilateral relations between France and Iraq…,” Governor Shaltagh Abboud al-Mayyah told Aswat al-Iraq news agency. The […]

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Corruption Cases Focus on Americans

More than 50 corruption cases have been opened in the last six months by U.S. investigators looking into the dealings of Americans involved in the $150 million Iraq reconstruction project. Some of the cases concern suspects who allegedly mailed tens of thousands of dollars to themselves from Iraq or who stuffed money into duffel bags […]

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Iraq Welcomes Chinese

Iraq is keen to see China play a bigger role in the reconstruction of the war-torn country, the country’s top envoy to Beijing has said. “After 2003, China has supported us very much and reduced Iraqi debts by 80 percent, which is greatly appreciated,” Iraqi Ambassador Mohammad Sabir Ismail told China Daily in an interview […]

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No Time Fixed for Dinar Rebase

The Central Bank of Iraq is planning to rebase the Iraqi dinar but hasn’t decided yet on the timing of the move, the bank said in a statement Monday. “The Central Bank affirms its commitment to its strategic projects, particularly knocking three zeroes from the Iraqi dinar,” the statement said. “Despite the technical and logistical […]

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2007 Final Account of Iraqi Government Released

The Board of Supreme Audit on Monday said it has released the final account of the Iraqi government for the year 2007 after all amendments had been made to it. “Amendment have been made to the remarks and notes with regards to budget revenues and an accumulated surplus of 52.6 trillion Iraqi dinars…,” according to […]

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