Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Adil Abdul-Mahdi, the former Iraqi vice president who resigned from his post, vehemently criticized Iraq’s economic policy, describing it as a failure. Abdul-Mahdi warned that tampering with the balances of nature […]
The Department of the Treasury has lifted sanctions against the Elaf Islamic Bank in Iraq following the bank’s significant and demonstrated change in behavior. On July 31, 2012 the Treasury Department imposed sanctions under the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA), against Elaf Islamic Bank, a privately-owned Iraqi financial institution, for […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Over the last few days, the government in Baghdad has been preoccupied with attempting to control the exchange rate of the Iraqi dinar against the US dollar. The rate has been […]
By Mark DeWeaver. I thought Sansar Capital’s recent report on the Iraqi banks was excellent. But I was surprised by its somewhat negative take on North Bank (BNOR). In particular, I found myself not entirely convinced by the following three points, which form the basis for their bearish case: Insufficient collateral for overdraft lending is […]
By Padraig O'Hannelly. At Iraq Business News we've always been clear that Iraq is a land of both opportunities and risks. The challenge for any investor or businessperson has always been to decide what risks are worth taking, and at what price. In the investment arena, real out-performance can only come from having a different […]
By John Lee. The First Deputy Chairman of the parliament has reportedly demanded that the Central Bank of Iraq address the fluctuating exchange rate of the Iraqi dinar against the US dollar, and disclose the reasons. Shafaaq News says that Qusay al-Suhai chaired a meeting of the Finance Committee, in the presence of central bank […]
With so much gloomy news around, it is good to find some analysis that shows the other side of the story: A report just issued by Sansar Capital suggests that shares in Iraq's banking sector may be ripe for a re-rating. Key to the report's findings is the argument that Iraq's banks are exceptionally well […]
Singapore-based Sansar Capital Management has issued a comprehensive new report on the Iraqi banking sector. The report finds that while the mix of an improving macro environment and security situation offer attractive investment ingredients, many challenges remain for those interested in participating through public markets. Nevertheless, Iraq remains one of the most under-banked countries in […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. According to experts, the hard-currency auction governed by the Central Bank of Iraq (CBI) — the authority in charge of implementing monetary policy in the country — has ushered in the […]
By John Lee. UK-based banking giant HSBC has said it is reviewing its operations in Iraq. Simon Cooper (pictured), chief executive for the Middle East and North Africa, told reporters in Dubai: "In terms of Iraq, it's a market that we will continue to review." According to a report from Reuters, he did not elaborate […]
By John Lee. Iraq Business News is growing. Less than three months ago, the list of subscribers to our free weekly newsletter hit 13,000 -- last week we topped 15,000! To put it another way, every working day forty new readers join the ranks of the best-informed business minds in Iraq. Many of these join on […]
The Louis Berger Group has announced that it will help the Kurdistan Regional Government (KRG) to start up the Erbil Stock Exchange (ESX) in Iraq’s Kurdistan region, a joint endeavor of the Iraqi government and private sector to build a modern securities market. “The launch of the ESX initiative is yet another testimony of the […]
