Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
At the 'Iraq: Untapped Opportunities' conference in London last week, the Deputy Prime Minister with responsibility for energy, Dr Hussain al-Shahristani (pictured), said he expects Iraq's rate of economic growth to increase in the coming years, partly as a result fo the country's "generous benefits, guarantees and exemptions". He said that the country has averaged […]
AKnews reports that the Iraqi Central Bank (ICB) has confirmed it will issue a new bill with a value of 50,000 IQD ($43) but marked as 50 dinars. Deputy chairman of the ICB Dr Muzher Saleh said the bank is working to issue this new money in addition to coins in both Arabic and Kurdish […]
British companies need to move fast if they are to gain a foothold in Iraq and avoid losing out to their competitors. This was the clear message given at the Middle East Association’s ‘Iraq: Untapped Opportunities’ conference held on 22nd November at the Dorchester Hotel, London. Supported by the National Investment Commission of Iraq, UK […]
At the 'Iraq: Untapped Opportunities' conference in London, Charles Hollis (pictured), Director General of the Middle East Association asked a panel of leading businessmen to make one suggestion each as to how Iraq can improve its development efforts. Hans Nijkamp, VP and Country Chairman for Iraq at Shell, said the authorities need to make a […]
This morning saw the launch of a major new guide to business in Iraq: Entitled "The New Iraq: 2012 Discovering Business", it was launched simultaneously in Dubai and at the "Iraq: Untapped Opportunities" conference in London. Published by Allurentis, in association with UK Trade & Investment (UKTI), the guide containes a wealth of case studies, […]
By T. Keyzom Ngodup, co-founder and Executive Director at Ideas sYnergy www.ideas-sYnergy.net, a local multiple bottom line advisory enterprise, driving innovation for social impact. According to the recently released World Bank Report The Republic of Iraq: Financial Sector Review, “SME and microfinance is not well developed in Iraq”. Over 85% of lending to Iraq SMEs […]
The Iraqi state-run Trade Bank of Iraq (TBI) has recovered around $400 million of a $900 million default on loans handed out with little or no security by the previous management, the bank's new chief has said. Former TBI president Hussein al-Uzri fled Iraq in early June after Prime Minister Nuri al-Maliki ordered a judicial […]
Azzaman news agency reports that the Iraqi Central Bank’s budget forecast for 2012 is based on and oil price of $80 per barrel. Muatasem Akram, a consultant with the bank, said the forecast was reasonable, though much below the 2012 forecasts for oil prices on international markets. He acknowledged the bank’s budgetary estimates for oil […]
Foreign investors’ appetite for Iraq’s stock market is rising before planned IPOs by the country’s three mobile telephone operators, but the fledgling market’s small size means it may struggle to cope with the listings, according to a report from Gulf News. The Iraq Stock Exchange (ISX) is an outpost of private sector business in Iraq, […]
The World Bank’s investment arm plans to pump about $800 million into Iraq’s energy and banking industries over the next three years to help boost development in the private sector, a senior official said on Wednesday. Reuters reports that Rashad Kaldany, vice president of the International Finance Corporation, said between $300 million and $500 million […]
The Iraq banking industry is poised to take a huge step forward as outside investors partner with established private banks and possibly create new ones through consolidation. In this latest free report from IraqiXchange, Ahmad Saleh presents a detailed analysis of the sector. Please click here to download the report.
Iraq’s gross domestic product growth is expected to rise by 9 percent in 2012, up from around 6 percent in 2011, mainly driven by an expected increase in oil production and exports, reports Al Arabiya TV. Mudher Kasim, a deputy governor of Iraq’s Central Bank, told Reuters in an interview, “it will easily jump to […]
