By John Lee. Dr Mazen Sabah Ahmed has taken over as chairman of the Iraq Securities Commission (ISC), replacing Faisal Al-Haimas following a formal handover ceremony. Al-Haimas congratulated his successor and commended his banking experience and professional qualifications. (Source: Iraq Securities Commission)
By John Lee. Iraq is planning to build 16 new liquefied petroleum gas (LPG) storage tanks with a combined capacity of 48,000 cubic metres, as part of efforts to expand strategic reserves and improve supply stability. According to the Ministry of Oil, a senior review meeting was chaired by Dr Izzat Sabir Ismail, Deputy Minister […]
By John Lee. Iraq's banking sector has been playing an active role in supporting small and medium-sized enterprises (SMEs) through direct lending and backing for entrepreneurship platforms, according to the Iraqi Private Banks League (IPBL). Ahmed Al-Hashimi, Deputy Executive Director of the IPBL, made the remarks at a workshop titled "Programme for Creating Long-Term Opportunities […]
By John Lee. Iraq has launched its first satellite ground station in Baghdad, dedicated to communications with satellites in geostationary orbit. The facility, known as the Teleport-IGWS (International Gateway Stations) project, is described by the Ministry of Communications as a step towards Iraqi digital sovereignty. Minister of Communications Mustafa Jabbar Sanad has called on all […]
By John Lee. Proposed amendments to Iraq's Companies Law No. 21 of 1997 have been discussed at a meeting convened by the Ministry of Trade, with participation from representatives of economic federations and organisations, the Private Sector Development Council, the Iraq Securities Commission (ISC), and the Company Registration Directorate. According to the Ministry of Trade, […]
By John Lee. An Iraqi-registered truck has completed a round trip to Mardin in Turkey under the TIR international road transport convention, loading goods there before returning through Iraq to Amman, Jordan. According to the Ministry of Transport, this is the first time an Iraqi truck has made such a journey under the agreement. The […]
By John Lee. Operations at four Kirkuk oil and gas fields have been transferred from North Oil Company (NOC) and North Gas Company (NGC) to a joint operating authority established to manage the fields. The transfer covers the Kirkuk oil field, Bai Hassan oil field, and the Khabbaz and Jambur fields. The ceremony was held […]
By Ahmed Tabaqchali, for the London School of Economics (LSE) Middle East Centre. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Kurdistan region of Iraq's Catch-22: structural contradictions of independent revenues and federal budget allocations The Kurdistan Regional Government's relationship with the federal […]
By John Lee. A new electronic system for replacing damaged banknotes has been introduced by the Central Bank of Iraq (CBI), allowing citizens to submit replacement requests online through the Ur portal According to the CBI, users can enter the required data and submit their applications via the platform at currency.app.cbi.iq, after which the bank's […]
By John Lee. The US Department of the Treasury has sanctioned Iraq-based International Development Bank for Investment and Finance (IDB) as part of an operation targeting Iran's international financial networks. According to the Treasury, IDB was designated under Executive Order 13902 for operating in the financial sector of the Iranian economy. The Treasury alleges that […]
By John Lee. A joint delegation from the US-Kurdistan Business Council (USKBC) and US-Syria Business Council (USSYBC), representing more than 30 US companies active in sectors including defence and security, energy, logistics, transportation and industry, has visited the Kurdistan Region of Iraq. According to the Kurdistan Regional Government, Prime Minister Masrour Barzani received the delegation […]
By John Lee. New restrictions on dollar travel allowances for Iraqi travellers take effect on Sunday (18th October). According to the Central Bank of Iraq (CBI), travellers will be permitted to purchase up to $2,000 every two months, with a maximum of six times per year. The bank said the measure is intended to regulate […]
