Archive | Iraq Banking & Finance News

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

Finance Minister Urges Ambassadors to Attract Investments to Iraq

Finance Minister Baqer al-Zubaidi urged Iraqi ambassadors to Egypt, South Korea and Belarus to attract investments to Iraq, mainly in housing and energy sectors, according to a ministerial statement on Wednesday. “This came during his meetings with ambassadors to Egypt, Nezar al-Khierallah, South Korea, Ismail Shafiq, and to Belarus, Haidar Masour. He urged them to […]

Turkish (ف‏ Bank) to Open in Erbil

Turkish (ف‏ Bank) intends to open a branch in Erbil, according to a senior official from the Department of international banks in the bank. The official said that the bank had started to establish a Division in  Erbil, which is more secure than other areas, adding that after completion, they will consult the Iraqi Central […]

5-year Development Plan Approved

The Council of Ministers on Tuesday approved the five-year development plan (2010-2014). “The council approved today (April 27) the five-year development plan after taking into consideration the proposed adjustments by some ministries,” official spokesman Ali al-Dabbagh told Aswat al-Iraq news agency. ( Aswat Al Iraq )

Talafar Asks Nineveh to Reconsider Its Budget Allocation

Talafar Directorate in Nineveh Province called on the Province Council to reconsider its share of the current year’s budget since it only covers 25% of the province’s needs. However, Sinjar doubted that the government will agree. Talafar governor Abdul Al Abbas said that 10.9 billion dinars were allocated for the region. This amount is not […]

Iraqis in Vietnam to Foster Relations

An Iraqi diplomatic delegation on Tuesday held a meeting with the Vietnamese foreign minister, with whom they discussed ways of boosting diplomatic and economic relations, according to a foreign ministry’s statement. “The delegation, led by Undersecretary of Iraqi Foreign Ministry Labied Abbawi, expressed Iraq’s desire to strengthen relations with Vietnam in various domains,” said the […]

German Company Seeks to Increase Investments in Basra

A German company met with the Basra Investment Commission on Wednesday to discuss increasing its investments in the province, according to a commission official. “The IQ MARTRADE Company is considering investment in berth 8 at Khour al-Zubeir port, and is also keen to establish a factory to make oil pipes in the province,” Ahmad Wahied […]

New Financing Arrangements Help Expand Internet Access

Iraqi internet service provider FastIraq is to connect more than 100,000 homes and offices to the internet, following the arrangement of funding with Dar Es Salaam Investment Bank (“DES”). FastIraq was advised by Northern Gulf Partners (“NGP”), which secured finance based on projected cash-flow; this is a significant departure from the traditional requirement to secure […]

Jordanians Launch Internet Network in Anbar

Anbar’s Investment Committee signed a memorandum of understanding with a Jordanian firm to launch an internet network in the province. “The system will link state-run institutions in Anbar to each other,” a source from the committee told Aswat al-Iraq news agency on Saturday. He explained that the people of Anbar will be allowed access to […]

New Plans to Attract Investors in Missan

The Missan governor announced on Thursday new plans and measures to attract investors to the province. “The province mapped out a plan for the current stage to establish investment projects, including parks, hotels and residential compounds,” Mohammad al-Shayaa told Aswat al-Iraq news agency. “The future plans include big infrastructure projects and other projects which need […]