Archive | Iraq Banking & Finance News

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

GKP may issue $100m Bond

Gulf Keystone Petroleum (GKP) has mandated Pareto Securities to arrange fixed income investor meetings in conjunction with a potential bond issue. Following these meetings, and subject to market conditions and acceptable terms, a 5-year senior unsecured bond issue of $100 million (the “New Notes”) may take place. The proceeds from the New Notes will be […]

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National Bank of Iraq joins IBBC

The National Bank of Iraq (NBI) has become the latest member of the Iraq Britain Business Council (IBBC). In a statement, the IBBC said it is delighted to welcome one of Iraq’s preeminent private sector banking organisations to join its growing financial and professional services sector table. NBI was founded in 1995 as a publicly […]

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Iraqi Depositors ‘Trapped’ In Iranian Banking System

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. By Abbas Sarhan. The Iranian banking system was seen as an attractive alternative to Iraq’s shaky financial institutions. But a recent, drastic devaluation in the Iranian rial means Iraqi money […]

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US in ‘Wait and See’ Position After Iraq Election

The victory of Shiite cleric Moqtada al-Sadr’s party in Iraq’s recent election has put the United States in a wait-and-see position, Defense Secretary James N. Mattis told reporters yesterday in Colorado Springs, Colorado. The secretary was in Colorado to preside at the change-of-command ceremony for North American Aerospace Defense Command and U.S. Northern Command. “History […]

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DNO Contemplates New Bond Issue

DNO ASA, the Norwegian oil and gas company with operations in Iraqi Kurdistan, is contemplating the issuance of a new, five-year senior unsecured bond with a minimum size of USD 400 million through a private placement. The coupon rate and the issue size will be determined during the accelerated book building commencing today. The net […]

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US puts Sanctions on Iraqi Bank

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on the Governor and a senior official of the Central Bank of Iran, an Iraq-based bank and its chairman, and a key Hizballah official, all of whom have moved millions of dollars on behalf of the Islamic Revolutionary Guard Corps-Qods Force […]

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Japan Supports Development of Water Supply and Irrigation

JICA to Support Reconstruction through Development and Rehabilitation of Water Supply and Irrigation Facilities: On 3 May, 2018, the Japan International Cooperation Agency (JICA) and the Iraqi Government signed two loan agreements at Ministry of Finance in Baghdad. These two ODA (Official Development Assistance) loans, amounting to JPY 34,880 million (approximately USD 329 million) in […]

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Iraq Investment and Reconstruction Opportunities Forum

Under the Patronage of H.E Prime Minister, Dr. Haider Al Abadi, organized by the General Secretariat of the Council of Ministers and the National Investment Commission (NIC) in cooperation with Economy and Business Group, the Iraq Investment and Reconstruction Opportunities Forum was held in Baghdad on Thursday the 26th April witnessing a wide local, Arab […]

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