Archive | Iraq Banking & Finance News

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

Details of Reconstruction Projects in Liberated Areas

By Padraig O’Hannelly. Iraq’s Deputy Minister at the Ministry of Construction, Housing, Municipalities and General Works has presented details of reconstruction projects underway in areas affected by terrorism. Dr Dara Reshid, who is also Vice President of the Reconstruction Fund for Areas Affected by Terroristic Operations (REFAATO), told CWC‘s Kirkuk & Mosul Megaprojects conference in […]

IBBC hosts Members’ Retreat at Cumberland Lodge

This weekend, the Iraq Britain Business Council (IBBC) hosted its annual members’ retreat at Cumberland Lodge, Windsor Park, which was generously sponsored by Al Burhan Group. As with previous years, it was very well attended by over seventy delegates, and allowed our members to mingle and network with representatives of other businesses, civil servants, and […]

TBI partners with Indian Firm for Fintech Development

By John Lee. The state-owned Trade Bank of Iraq (TBI) has reportedly signed a Memorandum of Understanding with India-based ESDS Software Solution to develop financial technology and a cloud platform in Iraq. According to Zawya, Alpen Capital (ME) Limited acted as the sole advisor for the transaction between the two firms, which aims to “establish […]

Iraq keen to join China’s Belt and Road Initiative

By John Lee. Iraq’s Minister of Transport, Abdullah Luaibi [Abdul Allah al-Leibi], has said that Iraq is actively seeking to join China’s Belt and Road Initiative [“One Belt, One Road (OBOR)“]. In statements on Monday, the Ministry confirmed that the Minister met with China’s Ambassador to Iraq, Zhang Tao, to discuss the plan. It added […]

$1bn Japanese Financing for Basrah Refinery

JICA to Support Iraq’s Reconstruction and Revitalization through Upgrade of Basrah Refinery Signing of Japanese ODA Loan Agreement for Iraq On 16 June, 2019, the Japan International Cooperation Agency (JICA) and the Iraqi Government signed a loan agreement at Ministry of Finance in Baghdad. The ODA (Official Development Assistance) loan amounting to JPY 110,000 million […]

Iraqi Firm harnesses Fintech to open New Markets

By Padraig O’Hannelly. Insurance is a complicated business, and as economies develop they demand more of it. This brings challenges, such as how to assess claims when the skills are not readily available locally, how to satisfy reinsurers that risks have been correctly priced and losses properly assessed, and how to develop lower-premium business without […]

StanChart “Expanding in Iraq as Safety Improves”

By John Lee. Standard Chartered bank is reportedly reviving stalled plans to open a new branch for corporate customers in Basra in the first half of 2020. This would be the UK-based bank’s third branch in Iraq. Its Iraq CEO Mohammed Jawad Al-Delaimy told Bloomberg: “Security in Iraq has improved dramatically … We have witnessed […]

IBBC holds Iraq’s First Int’l Tech Conference in Baghdad

The Iraq Britain Business Council (IBBC) held Iraq’s first International Tech Conference in Baghdad at the Babylon Rotana Baghdad Hotel on 30 April, hosting government ministers, private industry, entrepreneurs, investors, and representatives from the leading UK and Iraq Tech companies. The purpose of the Conference was to drive confidence, investment and awareness of the power […]