Iraqi Customs Revenue to Exceed $3bn by Year-End
By John Lee. Iraqi customs revenues are expected to reach 4 trillion dinars ($3.05 billion) by the end of 2025, up from around 800 billion dinars ($610 million) before the introduction of the ASYCUDA (Automated System for Customs Data) system in 2022. The director-general of the General Customs Authority, Thamer Qasim (pictured), attributed the rise […]
Ford Names New Iraqi Distributor
By John Lee. Ford Middle East and North Africa has appointed Shimal Al Jazeera Auto-Trading and Commercial Agencies (SAT) as its distributor partner in Iraq, effective 1 October 2026. According to a press release from Ford, SAT is a strategic alliance between March Holding, a regional investment group with a diversified portfolio across technology, financial […]
Iraq-Palestine Talks on Pharmaceutical Market Access
By John Lee. Iraq and Palestine have discussed cooperation on the pharmaceutical sector, including procedures for registering Palestinian drug products with Iraqi authorities to facilitate their entry into the Iraqi market. The talks took place on the sidelines of the 118th regular session of the Arab League's Economic and Social Council, where Minister of Trade […]
ILO-Iraq Workshop Planned on Small Business Resilience
By John Lee. Iraq's Ministry of Planning has held a virtual meeting with the International Labour Organization (ILO) to discuss organising a workshop on building inclusive and risk-informed small and medium-sized enterprises (SMEs) in Iraq, as part of efforts to support sustainable recovery and local economic development. According to the Ministry of Planning, the workshop […]
Iraq-Tunisia Trade Talks at Arab League Economic Council
By John Lee. Trade relations between Iraq and Tunisia were discussed on the sidelines of the 118th ordinary session of the Economic and Social Council of the Arab League, with both sides exploring ways to increase bilateral trade and expand Iraqi exports to the Tunisian market. According to the Iraqi Ministry of Trade, Minister Mustafa […]
CBI Revokes Licences of Three Forex Companies
By John Lee. The Central Bank of Iraq (CBI) has revoked the licences of three exchange companies - Al-Aswar, Al-Qattaf, and Al-Anamel - for falsifying cash-sale records for travellers. Under Decision No. 138 of 2026, the CBI has also required the companies to return the dollar amounts involved in the violating transactions, or the exchange […]
ISC Cautions Investors Over Fraudulent Financial Entities
By John Lee. The Iraq Securities Commission (ISC) has warned citizens and investors against dealing with unlicensed companies and entities that promote investment services or opportunities without regulatory approval. According to the ISC, some entities use trade names, websites, or social media pages to present themselves as authorised financial or investment institutions, and offer promises […]
CBI Promises Currency Exchange Program, New Lending Initiatives
By John Lee. Iraq's banking sector reform programme is continuing in coordination with Oliver Wyman, with further positive developments expected in the coming period, including greater integration with the international financial system. The Central Bank of Iraq (CBI) also plans to launch new lending initiatives to support investment and strengthen the role of the private […]
Depositors' Funds Secure, Says Central Bank of Iraq
By John Lee. The Central Bank of Iraq (CBI) has issued a statement reassuring depositors that supervisory measures imposed on licensed banks do not indicate insolvency, and that depositors' funds remain protected under existing laws and regulations. According to the CBI, the appointment of supervisory or receivership committees at a licensed bank is a precautionary […]
New Modern Cities Planned for Every Iraqi Province
By John Lee. Plans have been announced for a new modern city to be built in each of Iraq's provinces, with each city to cover between 10,000 and 15,000 dunams and to reflect the character, history, and heritage of its province. According to the Prime Minister's Office (PMO), Prime Minister Ali al-Zaidi met on Thursday […]
Infrastructure Financing Talks with Asian Development Bank
By John Lee. Iraq's Ministry of Finance has held talks with a delegation from the Chinese-based Asian Infrastructure Investment Bank (AIIB) on financing infrastructure projects and supporting development priorities in Iraq. The delegation was led by Konstantin Limitovsky. According to the Ministry of Finance, discussions covered the bank's activities in financing transport, energy, water, and […]
Belarus-Iraq Meetings Cover Energy, Pharma and Trade
By John Lee. Belarus's ambassador to Iraq, Anatoly Glaz, visited Baghdad from 1st to 3rd September for a series of bilateral meetings, according to Belarus's Ministry of Foreign Affairs. On 1st September, Glaz presented copies of his credentials to Foreign Minister Fuad Hussein. Discussions covered the restoration of Belarusian-Iraqi cooperation, including the resumption of the […]