Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Shafaaq News reports that the Central Bank of Iraq (CBI) has announced its intention to privatize the two largest banks in the country. It quotes CBI Governor Ali al-Alaq as saying: "The bank's management is moving to privatize al-Rafidain and al-Rasheed Banks or participate with the private sector ... the move is being coordinated with […]
The Chairman of Iraq’s National Investment Commission (NIC), Dr. Sami Al-Araji, has signed the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention). Iraq has become the 160th country to sign the Convention and the 152nd country to become a member of the International Centre Settlement of […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 19 remittance companies took part in its currency auction on Monday. A total of $271,347,366 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Falling oil prices have driven the Kurdish region of northern Iraq to the brink of bankruptcy. Government salaries have not been paid for months, and citizens are suffering - some are being forced to take second jobs. Al Jazeera's Imran Khan reports from Erbil:
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Ismail (pictured), has said that he expects Iraq’s foreign currency reserves to total about $60 billion by the end of the year. According to the report from Bloomberg, that is higher than the International Monetary Fund (IMF) predicts, and sufficient to […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 17 remittance companies took part in its currency auction on Wednesday. A total of $173,741,000 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
An International Monetary Fund (IMF) mission led by Christian Josz visited Amman from November 1–10, 2015 to discuss a Staff-Monitored Program (SMP) with the Iraqi authorities. At the end of the visit, Mr. Josz issued the following statement: “Iraq continues to face a number of challenges. Key among those is the ongoing armed conflict with […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 19 remittance companies took part in its currency auction on Tuesday. A total of $174,263,000 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Iraq Business News is delighted to bring you the latest major new guide to business in Iraq. Published by Allurentis, in association with Iraq’s National Investment Commission (NIC) and UK Trade Investment (UKTI), the sixth edition in the annual New Iraq series - The New Iraq: 2015/2016 Discovering Business - contains a wealth of case studies, commentary and data; […]
Beginning 2016 founders of The Iraq Club, will officially launch the Future Energy Forum (FEF), an exclusive business-focused community connecting a senior network of leaders specifically engaged in the development of emerging energy markets. A much anticipated forum, FEF is spearheaded by William Wakeham and Leanne Case, both of whom are leading experts on critical […]
By John Lee. ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announces that Mansour Bank for Investment, an Iraq-based bank and its partner, Qatar National Bank (QNB) (owns 51%), has selected its global awards winning flagship ICS BANKS to replace its core banking and IT systems. The […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 23 banks and 16 remittance companies took part in its currency auction on Tuesday. A total of $178,835,000 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
