Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
The parliamentary Finance Committee said on Sunday that it is considering adding 42,000 jobs to the 58,000 allocated in the 2012 budget, according to AKnews. On Jan. 5 the Iraqi government approved the 2012 budget of $100 billion USD (117 trillion IQD) with a deficit of up to $13.5 billion USD (20.5 trillion IQD), based […]
The Iraqi Central Bank (ICB) said it’s under a “currency attack” as traders buy U.S. dollars in daily auctions and resell them on the black market in Syria and Iran, which face hard currency shortages due to sanctions, according to a report from Bloomberg. Demand for the dollar at the central bank auctions has risen […]
Businesses considering entering the Iraqi market are being offered a second free seminar, to explore further the considerations for operating in Iraq. The second of a series of “Opportunity Iraq” seminars is being delivered by Upper Quartile as part of Aberdeen City Council’s international trade and investment team’s support services. This will deal with the […]
Insurance solutions to address and cover the risks and exposures in oil and gas exploration & production. Tuesday, February 14 to Wednesday, February 15, 2012 Hilton Jumeirah Hotel, Dubai With recent political unrest in the Middle East facilitating a spike in oil prices, the growth in energy projects is set to continue unabated with the […]
President Ismail Omar Guelleh recently inaugurated the first subsidiary of Iraq-based Warka Bank for Investment and Finance (BWAI) in Djibouti to offer full range of banking services. The ceremony was attended by the Prime Minister Dileita Mohamed Dileita, Mr. Hichem Ben Turkia, who is Warka Bank representative, several members of government, as well as ambassadors […]
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By T. Keyzom Ngodup, co-founder at Ideas sYnergy. Ideas sYnergy is Iraq’s first multiple bottom line advisory company committed to inclusive economic and social development through market-based solutions that help build and scale youth-driven innovative ideas for social change. Hamada Zahawi’s article on Al Jazeera writes about the TEDxBaghdad conference in Baghdad that focused on […]
Dar Es Salaam Investment Bank, a 70.1% owned subsidiary of HSBC Asia Holdings BV, has sold its 19.465% equity interest in Iraqi insurance company Dar Es Salaam Insurance to Gulf Insurance Company for a cash consideration of IQD1.557bn (approximately US$1.33m). The sale took place on 18 December 2011 and represents the disposal of a non-core […]
The Ministry of Agriculture and Water Resources of the Kurdistan Regional Government (KRG) gave loans to almost 1,500 individual projects in 2011, reports AKnews. Nuri Ismael, The Ministry's loans and marketing director, told the news agency that the agricultural banks in Sulaimaniya, Erbil, and Duhok provinces as well as Garmiyan area have given a total of […]
Iraq's Central Bank says it will not allow the Iraqi dinar to depreciate and has been selling hundreds of millions of dollars to keep the currency stable, according to a report from Azzaman. The dinar weakened in December, prompting the bank to sell dollars in a bid to withdraw cash from Iraqi markets. The bank […]
Security forces in Sulaimaniyah City have detained two people on charges of forging Iraqi money, reports AKnews. The two men were arrested by the security forces with fake money and arms in their possession, after another man who had been detained the previous day on similar charges admitted the charges and identified the other two. The […]
The Statistics Department of Iraq's Ministry of Planning reported on Sunday that that prices rose by 5% for the period November 2010 to November 2011, according to Aswat al-Iraq. Monthly inflation was "increased by 0.1%". The report concentrated on the commodities and services for consumption, including foodstuffs, beverages, clothes, shoes, housing, fuels (benzene, gasoline), household […]
