Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. BasNews, citing an anonymous source, reports that one German and one American bank have expressed interest in lending to Erbil, if it proves its ability to repay the loan and interest. The KRG Parliament recently passed a bill allowing the government to borrow up to $5 billion (6 trillion iraqi dinars), at […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks and 4 remittance companies took part in its currency auction on Sunday. A total of $112,250,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
An International Monetary Fund (IMF) mission led by Carlo Sdralevich visited Amman from May 27 – June 4, 2015 to discuss with the Iraqi authorities financial assistance to Iraq under the Rapid Financing Instrument (RFI). At the end of the visit, Mr. Sdralevich issued the following statement: “The mission has reached a staff-level agreement with […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Can The Country Ever Recover? How Much Iraq's Fight Against ISIS Extremists Is Really Costing The security crisis caused by the extremist group known as the Islamic State has not […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 20 banks and 4 remittance companies took part in its currency auction on Monday. A total of $289,350,650 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The National Bank of Iraq plans to open five more branches in Iraq by the end of this year, in what Reuters described as a sign that there is still money to be made in much of the country despite civil war and low oil prices. Vice-chairman Ayman Abu-Dhaim told the news […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks and 4 remittance companies took part in its currency auction on Tuesday. A total of $232,814,397 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has reported that 21 banks and 1 remittance company took part in its currency auction on Monday. A total of $172,610,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has allocated $5.1 billion (6 trillion Iraqi dinars) in loans to banks in a bid to keep a handle on inflation. Ali Allaq, Central Bank general manager, told the Al-Hayat newspaper on Monday that the CBI is responsible for the stability of the market, adding that […]
Prime Minister Haider Al-Abadi received Mr. Akhiko Tanaka, the President of Japan International Cooperation Agency (JICA) and the accompanying delegation on Monday. The meeting discussed the projects implemented by the agency and its future plans in addition to the role of Japan in supporting Iraq in different fields. Dr. Al-Abadi welcomed the delegation and commended […]
By Imtiaz Ahmad. Over the last seven to eight years, Iraq remained very attractive for international investment especially in the oil and gas sector. Almost all major international oil companies (IOCs) invested, either individually or in partnership with others. By contrast, Iraq showed slow progress in setting out proper petroleum and tax policy for existing […]
By John Lee. The parliamentary economic and investment commission has reportedly said that the Central Bank of Iraq (CBI) is not able to redenominate the Iraqi dinar, deleting the three zeros. According to a report from Shafaq News, this is "due to the unstable economic situation." Instead, new banknotes worth 50,000 dinars are to be […]
