Archive | Iraq Banking & Finance News

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

Diebold Nixdorf deploys new ATMs in Iraq

Diebold Nixdorf has announced that Al Qurtas Islamic Bank is the first to deploy its DN Series ATMs in Iraq. The bank's ATMs will be monitored by Vynamic View software to detect and prevent downtime, optimize performance and reduce costs for the bank. Sara Ahmad, chief executive officer at Al Qurtas Islamic Bank, said: "We […]

Fitch Rates Iraq's RTB Bank 'CCC+'

By John Lee. Fitch Ratings has assigned the Erbil-based Region Trade Bank for Investment and Finance Private Shareholding (RTB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the privately-owned bank has minimal market shares in Iraq, no competitive advantages and limited distribution capabilities. More here. (Source: Fitch […]

IBBC hosts largest ever Spring Conference

The Iraq Britain Business Council (IBBC) hosted the largest attendance for their Spring conference at the Mansion house on 24th May, with just under 300 attendees, half of whom came from Iraq. Widely considered a success, the overall theme was 'sustaining economic growth in Iraq', There were multiple panels and roundtable sessions; including four panels […]

Central Bank of Iraq increases Capital

By John Lee. The Central Bank of Iraq (CBI) has reportedly announced an increase in its capital. State-owned Iraqi News Agency (INA) said that the capital will be increased from 3 trillion dinars (approximately $2 billion) to 5 trillion dinars. It quotes the media office of CBI as saying that the increase was made using […]

Canada Increases Support to Iraq

Canada reaffirms its commitment to Iraq's stabilization with new CAD 10 million support The Government of Canada has pledged an additional CAD 10 million (approximately US$ 7.8 million) to support the United Nations Development Programme (UNDP) in Iraq as it works to accelerate stabilization efforts and boost sustainable livelihoods across western Anbar and Ninewa. Canada's […]

Meet Top Iraqi Officials at IBBC Conference

Hear Iraq's principal ministers and financiers share their vision and policies for Energy, Finance and Educational sectors at IBBC's Mansion House conference on 24th May. Iraq is on the cusp of forming a new Government and is benefitting from high oil revenues and stability. The IBBC Spring conference is ideally timed for a potential new […]

Al-Rasheed Bank removed from Sanctions Lists

By John Lee. The United Nations Security Council has removed Iraq's state-owned Al-Rasheed Bank [Al-Rashid Bank] from its Sanctions List. The updated version of the Committee's Sanctions List, available in HTML, PDF and XML format, may be found here. Authorities in the United Kingdom have also confirmed that the bank has been removed from the […]

Iraq launches Solidarity Program to Empower Civil Society

By John Lee. Iraq's Department of Non-Governmental Organizations, in cooperation with the United Nations Development Program (UNDP), has launched a project to empower civil society organizations in partnership with the Central Bank of Iraq (CBI), the Islamic Development Bank and the Islamic Solidarity Fund. The project aims to empower organizations and improve the social and […]