Archive | Iraq Banking & Finance News

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

UK Law Firm advises on Iraq Port Deal

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 […]

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 […]

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 […]

Japan extends $300m Loan for Basra Refinery

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 […]

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 […]