Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
An adviser to the Central Bank of Iraq (CBI) said on Wednesday that the International Monetary Fund (IMF) has renewed its call for Iraq to clear its outstanding debts. Nathhar Mohammed Saleh told AKnews that the IMF called on the Ministry of Finance and the Central Bank to develop feasible solutions to its external debts. […]
Marsh has announced that it had signed a mutually exclusive agreement with Anglo Arab Insurance Brokers, the only international broker to be licensed and registered to operate in Iraq with offices across the country. Under the terms of the agreement, Marsh and AAIB will co-operate on insurance coverage, risk management and claims handling issues for […]
Global accounting and audit firm Deloitte plans to open its first office in Iraq and is working on an add-on acquisition to grow its Middle Eastern presence, according to report from Reuters. Omar Fahoum, chairman and chief executive of Deloitte Middle East, told Reuters that the company will open a branch in Baghdad in the […]
The USAID-Tijara “Putting the Poor First” microfinance symposium, a program supported by the U.S. Government, will be held November 28-30 in Erbil. The Inclusive Financial Services Stakeholders’ Conference will bring together leaders from the 12 microfinance institutions (MFIs) that provide financial services throughout Iraq. The forum will attract Iraqi policy makers, donors, banks, small business […]
While in other markets stocks go ex-rights overnight, in Iraq things take a bit longer. Generally, trading is suspended prior to shareholders meetings at which rights and bonus issues will be voted on and does not resume for months afterwards. In the case of rights issues, the suspension will last until all the shares on […]
Global Capital Investments, of Illinois, has created a private investment fund for sophisticated investors who wish to invest in the long-term growth potential of the emerging Iraqi economy. The objective of the fund is to seek long-term capital appreciation over a broad range of Iraqi listed securities, a small number of private investments and Iraqi […]
They say the only two things anyone ever really knows about a stock are the price and the ticker symbol. In Iraq, this is true to such an extent that it’s difficult even to adjust old record high prices for corporate actions like rights and bonus share issues. A stock could be making new highs […]
Iraqi government-owned banks and the National Investment Commission (NIC) have signed a memorandum of understanding (MoU) on mechanisms to collect the necessary funds to build residential compounds and offer enough guarantees for investors, according to the Finance Ministry. “Minister of Finance, Baqer al-Zubaydi [Baqir Jabr Al-Zubeidi], chaired a four-hour meeting that dealt with the role […]
Request for expressions of interest: Technical assistance to Kurdistan Investment Board The Kurdistan Board of Investment of the Kurdistan Regional Government (BoI - KRG) seeks professional assistance to enhance the quality of the board's evaluation process from various perspectives, including the technical review and assessment of the investment proposals submitted to the board. The main […]
The Central Bank of Iraq has instructed private banks to raise at least $7 billion in fresh capital over the next three years to be able to handle an expected oil-fueled construction boom, according to the Wall Street Journal. Ahmed Ibraihi, Vice Governor of the Central Bank of Iraq, told the newspaper on Wednesday that […]
Taylor-DeJongh, a leading energy and infrastructure investment banking firm, and Phoenix Capital LLC, a Baghdad-based investment bank, announced on Wednesday that they have entered into a strategic partnership to create the first Washington-Baghdad financial services firm. The partnership will provide specialist industry knowledge and financial expertise to both international and Iraqi public and private sector […]
Bloomberg reports that Japanese consumers are being warned about an investment scam selling Iraqi dinar on predictions the currency will surge in value. A man in western Japan spent 2 million yen ($25,000) to buy 500,000 Iraqi dinar ($428) after a caller recommended buying the currency because it was expected to gain as much as […]
