Archive | Iraq Banking & Finance News

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

Breaking Out of Fragility: Diversification and Growth in Iraq

Breaking Out of Fragility: A Country Economic Memorandum for Diversification and Growth in Iraq Iraq is at a crossroads. Almost two decades after the 2003 war, the country remains caught in a fragility trap, facing increasing political instability, growing social unrest, and a deepening state-citizen divide. Amid a multitude of crises (including an oil price […]

Iraq to Release Frozen Iranian Funds

The Governor of the Central Bank of Iran has said his negotiations with Iraqi officials have yielded "positive" results, as the Arab country has given its approval to the release of Iran's frozen assets for the purchase of basic commodities. In remarks on Monday, Abdolnasser Hemmati said he held a trilateral meeting with Governor of […]

Iraq to join European Bank for Reconstruction and Development

Iraq has taken the first step to become a member of the European Bank for Reconstruction and Development (EBRD). The 71 existing shareholders of the multilateral financial institution approved a request by the country during the Bank's Annual Meeting on Wednesday. The EBRD promotes private sector development and sustainable and inclusive growth through a combination […]

Five One Labs Launches Iraqi Investment Initiative

Five One Labs, a start-up incubator for Iraqi and Syrian entrepreneurs based in the Kurdistan Region of Iraq (KRI), has launched Five One Invest, an investment initiative that creates more efficient deal-making and matchmaking opportunities for local investors and increases access to capital for entrepreneurs as they scale. Five One Labs co-founder Alice Bosley said: […]

Trade Bank of Iraq names New Chairman

By John Lee. The Trade Bank of Iraq (TBI) has announced that Salem Chalabi [Salem Jawad Abdul Hadi Al-Jalabi] has taken over as the company's Chairman and President with immediate effect. Prime Minister Mustafa Al-Kadhimi appointed the Yale graduate to succeed Faisal Al Haimus, who has been named as head of the Iraq Securities Commission […]

Call for EU to Remove Iraq from List of High-Risk Countries

Foreign Minister Renews Call for European Commission to Remove Iraq from List of High-risk Countries in Terrorist Financing and Money Laundering Foreign Minister Mr. Fuad Hussein has met with Mr. Josep Borrell, the High Representative for Foreign Affairs and Security Policy in the European Union, at the European Commission headquarters in Brussels. Minister Fuad Hussein […]

Capital Bank to buy Lebanon's Bank Audi

By John Lee. Jordan's Capital Bank has said that it has signed a letter of intent to acquire assets and liabilities of Lebanon's Bank Audi. It's Chairman told Reuters that the bank has already begun due diligence on buying Bank Audi's Iraqi units. Click here to see the stock market annoucement. Click here to read […]