Archive | Iraq Banking & Finance News

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

Will Iraqi PM open Pandora's Box in Massive Corruption Case?

From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will Iraq' PM open Pandora's box in pursuit of massive corruption case? Iraq's prime minister¬†has announced the recovery of some of the state funds¬†embezzled in the multi-billion dollar corruption case which rocked the […]

UAE-Iraq Agreement for Port and Logistics Development

Abu Dhabi-based AD Ports Group and Iraq's International Development Bank (IDB) have signed a Memorandum of Understanding to review opportunities for ports and logistics projects that could enhance trade flows between the UAE and Iraq. The agreement was signed by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, and […]

Customs and Tax Automation Project completes Implementation Stages

By John Lee. Iraq's Minister of Finance, Taif Sami Mohammed, has held a meeting on the follow-up to the implementation of the automation project for customs and tax. The Minister said: "The completion of the automation project will contribute to the development of customs departments and improve their performance, by adopting a single window, modernizing […]

Possible Revaluation of the Iraqi Dinar?

By John Lee. Iraqi Prime Minister has reportedly told a press conference that his government intends to increase the value of the Iraqi dinar (IQD) against the US dollar. Kurdistan24 quotes Mohammed Shia al-Sudani as saying that the interests of the needy were not taken into consideration when the currency was devalued by approximately 20 […]

Bank of Jordan inaugurates First Branch in Iraq

By John Lee. The Bank of Jordan has announced its first branch in Baghdad. Mr. Shaker Fakhouri, Chairman of the Board, said: "Our decision to establish a branch in Iraq serves to boost our regional presence and exemplifies the strategy adopted by the Bank; namely expanding its business operations in the region, where markets are […]

Strong Growth at National Bank of Iraq

By John Lee. The National Bank of Iraq (IBN) has seen an increase in net income after tax of 29 percent for quarter to the end of Septermber, compared with the same period in 2021. Parent company Capital Bank Group, based in Jordan, said net income after tax reached JD11.1 million [USD 15.7 million] by […]