By John Lee. The Trump administration has reportedly threatened to block Iraq’s access to its funds in the Federal Reserve Bank of New York if Iraq expels US troops from the country. The Wall Street Journal quoted unnamed Iraqi officials as saying that the US State Department warning came after the Iraqi parliament voted in […]
Archive | Iraq Banking & Finance News
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Tracing Iraqi Sovereign Debt
By John Lee. Simon Hinrichsen, a PhD student at the London School of Economics (LSE), has published an analysis of Iraq’s sovereign debt over the years. The full 51-page report can be downloaded here. (Source: LSE)
Tags: Central Bank of Iraq (CBI), Debt, featured, Iraq Budget News, Iraqi Government Bonds, London School of Economics (LSE), mn, Sovereign Debt, United Kingdom
Iraq discusses Joining European Bank for Reconstruction and Development
By John Lee. The Ambassador of Iraq in London, Mr. Mohammad Jaafar Al-Sadr, has met Mr. Enzo Quattrociocche, the Secretary-General of the European Bank for Reconstruction and Development (EBRD). During the meeting, they discussed the possibility of Iraq joining the bank. The Ambassador stressed the importance of moving forward with the implementation of Iraq’s economic […]
Iraq Repays more than $20bn in Foreign Debt
Iraq has paid back more than $20 billion in foreign debt, the head of the parliamentary finance committee Haitham Al-Jubouri has said. “Iraq’s foreign debt amounted to more than $50 billion. More than $20 billion was paid back over the last period,” Al-Jubouri told the Iraqi news agency. According to the official, Iraq still owes […]
Big Fines for Dinar Auction Fraud
By John Lee. Iraq’s Commission of Integrity has revealed that it has concluded cases resulting in fines of more than 245 billion dinars ($206 million) on private banks, due to violations relating to customs licences and foreign currency auction instructions for 2012. The CoI mentioned that one of these corruption cases related to a private […]
Tags: Commission of Integrity, Corruption, currency, currency auctions, dinar, Dollar Auctions, featured, IQD, mn, money laundering
EUAM Iraq: New Head of Mission Appointed
By John Lee. On 11 December 2019, Christoph Buik was appointed as new head of mission for the European Union Advisory Mission in Iraq (EUAM Iraq). He will take up his duties on 1 January 2020. Christoph Buik, a German national, is currently Director of the UN Standing Police Capacity. Previously, he was Police Commissioner […]
Tags: European Union (EU), European Union Advisory Mission in Iraq (EUAM Iraq), featured, germany, mn, NATO
An Economic Manifesto for Iraq
By Editor on 7th November 2019 in Amer K Hirmis, Iraq Banking & Finance News, Iraq Industry & Trade News, Politics
By Dr Amer K. Hirmis. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. An Economic Manifesto for Iraq [Bayan Iqtisadi lil-‘Iraq] Prologue The October 2019 Uprising of the youth of Iraq is a fresh reminder of the Iraqis love for life. Optimism and hope […]
Conference: Find Out What’s Happening in Iraqi Business
By Editor on 6th November 2019 in Construction & Engineering In Iraq, Healthcare, Investment, Iraq Banking & Finance News, Iraq Education and Training News, Iraq Industry & Trade News, Iraq Oil & Gas News, Iraq Public Works News, Iraq Transportation News
From Peace to prosperity: The Conference to find out what’s happening for Iraq business. The Iraq Britain Business Council (IBBC) Autumn Conference in Dubai on December 8th is set against a backdrop of relative peace and security in Iraq, and the prospect of oil revenues surging through the economy is driving a wider range of […]
Tags: AFC Iraq Fund, Ahmed Tabaqchali, Basra Gateway Terminal (BGT), British Council, conferences, dubai, E&Y, ENKA, featured, GE, Google, Iraq Britain Business Council (IBBC), KPMG, Lehigh University, Menzies Aviation, mn, Rolls-Royce, Siemens, UK Trade and Investment, UKTI, United Arab Emirates (UAE), United Kingdom, Wood Group, World Bank
Iraqi “First Digital-Only Payment Card”
Iraq-based International Network for Cards and Digital Payment Services (INC Iraq) and a Lebanese fintech startup NymCard that is digitizing how payments cards are issued, delivered, and used, in collaboration with Visa have launched the first digital-only (prepaid) payment card ‘Neo‘ in Iraq to serve the underbanked Iraqi population, the two companies announced in a […]
Tags: banking, credit cards, DJ, featured, International Network for Cards and Digital Payment Services (INC Iraq), Lebanon, mn, NymCard, Visa Card
Household Debt in Iraq: Borrowing in a Time of Crisis
1. EXECUTIVE SUMMARY This study seeks to better evidence and understand the scale, terms, sources, uses, and social dimensions of household debt within conflict-affected communities in northern Iraq, with a view to inform ongoing and future CCI relief and recovery programming. The research was carried out in two conflict-affected districts in the Ninewa governorate – […]
EXIM signs MoU with Iraq
By John Lee. The Export-Import Bank of the United States (EXIM) has entered into a memorandum of understanding (MOU) with the Ministry of Finance of the government of Iraq aimed at rebuilding Iraq and enhancing trade and economic cooperation between the two countries. The MOU replaces the previous agreement signed in Kuwait in February 2018 […]
Iraq’s Credit Profile “Constrained”
By John Lee. Iraq’s (Caa1 stable) credit challenges include very weak institutions and governance that limit policy effectiveness, constrain the government’s capacity to respond to external and domestic shocks and weigh on economic competitiveness, Moody’s Investors Service said in a report this week. It says last year’s improvement in the fiscal and external balances was […]