By Olivia Bridge. Despite recent tumultuous times and a weakening economy in Iraq, government is said to be implementing reforms that are aimed at reviving its ailing currency. Forex trading in Iraq While forex trading in Iraq is still a relatively new concept, it is gradually being embraced by nationals. Reports on the matter suggest […]
Archive | Iraq Banking & Finance News
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Iraqi Housing Fund to Increase Capital to $1.4bn
By Editor on 7th October 2021 in Construction & Engineering In Iraq, Investment, Iraq Banking & Finance News, Politics
By John Lee. The Iraqi Cabinet has approval a doubling in the capital of the Iraqi Housing Fund. The capital will increase from 1 trillion to 2 trillion Iraqi dinars ($1.4 billion), with the additional funds to be paid by the Ministry of Finance. (Source: Office of the Prime Minister)
UK Law Firm advises on Iraq Port Deal
By Editor on 30th September 2021 in Construction & Engineering In Iraq, Investment, Iraq Banking & Finance News, Iraq Transportation News
By John Lee. UK-based international law firm Clifford Chance has announced that it has advised International Finance Corporation (IFC) and Japan International Cooperation Agency (JICA) on the US$125 million financing of the development, construction, equipping and operation of both new and existing facilities at the Umm Qasr Port in Iraq. In a press release, the […]
Tags: Aloreen Investment, Clifford Chance, featured, International Finance Corporation (IFC), Japan, Japan International Cooperation Agency, JICA, mn, Switzerland, Terminal Investment Limited (TIL), Umm Qasr, Umm Qasr Port
Final call for the Iraq Britain Business Forum
By Editor on 23rd September 2021 in Construction & Engineering In Iraq, Investment, Iraq Banking & Finance News, Iraq Industry & Trade News, Iraq Oil & Gas News
You are invited to attend the Iraq Business Forum on 27th September in Central Hall Westminster. Hear from IBBC members and British companies. Meet Iraqi businesses leaders interested to source products from the UK across multiple sectors. Enjoy one to one business meetings.
Baghdad hosts Conference on Recovery of Looted Funds
By John Lee. An international conference on the recovery of looted funds has just concluded in Baghdad. The conference was organised by Iraq's Commission of Integrity, and was attended by Prime Minister Mustafa al-Kadhimi; the Secretary-General of the Arab League, Ahmed Abul Gheit; ministers, judges and other officials. Praising the efforts of anti-corruption bodies, the […]
New Report: Expanding Access to Banks in Iraq
By John Lee. The Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS) has issued a new report on the banking sector in Iraq. "Expanding Access to Banks in Iraq: Challenges & Pathways to Reform" argues that one of the major obstacles to the development of the private sector […]
Tags: Ahmed Tabaqchali, American University of Iraq Sulaimani (AUIS), banking, featured, Institute of Regional and International Studies (IRIS), mn
DNO Completes $400m Bond Placement
DNO ASA, the Norwegian oil and gas operator, has completed the private placement of USD 400 million of new five-year senior unsecured bonds with a coupon rate of 7.875 percent. The placement met strong investor demand across international markets and was significantly oversubscribed, leading the Company to upsize the new bond issue from USD 300 […]
Opinion: The Inevitability of Crypto in Iraq
By Abdurrahman Bapir, for Coindesk. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Opinion: The Inevitability of Crypto in Iraq Despite roadblocks, crypto is becoming increasingly popular in Iraq and the Kurdistan Region. Click here to read the full article.
Iraqi Finance Minister "Supports Floating Exchange Rate" for Dinar
By John Lee. Iraq's Deputy Prime Minister and Finance Minister has reportedly said that he supports a floating exchange rate for the Iraqi currency, the dinar. Shafaq quotes Ali Allawi (pictured) as telling a press conference on Thursday that the Central Bank of Iraq (CBI) intervenes occasionally to keep the dinar in the range of […]
Tags: Ali Allawi, Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Japan extends $300m Loan for Basra Refinery
By Editor on 24th August 2021 in Investment, Iraq Banking & Finance News, Iraq Industry & Trade News, Iraq Oil & Gas News, Politics
By John Lee. Japan's Minister for Foreign Affairs, Motegi Toshimitsu, visited Iraq on Saturday, meeting with Foreign Minister Fuad Hussein, Prime Minister Mustafa Al-Kadhimi, and President Barham Salih. Minister Motegi announced that Japan intends to extend the "Basrah Refinery Upgrading Project (Phase 3)" Yen loan project (up to the amount of 32.7 billion yen) [$300 […]
Tags: Basra News, Basra Refinery, Basrah Refinery Upgrading Project, featured, Japan, mn, Refineries
Iraq said to be Negotiating IMF Loan
By John Lee. Iraq has reportedly restarted talks with the International Monetary Fund (IMF) for a $4-billion loan to cover its budget deficit. More here. (Sources: Bloomberg, Arab News)
Startups & Businesses Thrive In Iraq
By Olivia Bridge. Iraq's global perception might not be optimistic, but the country is proving itself as an incubator for startups and small businesses. Why startups and businesses are thriving in Iraq To the uninformed, the idea of Iraq being capable of nurturing online businesses, start-ups and entrepreneurs might seem far-fetched. Disinformation and rumours haven't […]