Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
So far two subscription periods for Warka Bank’s ID 150 bn rights issue have come and gone without any official announcement of the results. The last date for existing shareholders to subscribe was May 16. As most of them did not take up their rights, there was a subsequent public offering open to everyone except […]
A senior official in the Iraqi Central Bank said that inflation in Iraq continuedto fall in June and reached 2.7%, compared with 3% in May. The Central Bank of Iraq slashed its base rate by 100 basis points to six per cent in April in reaction to subdued inflation, though the interest rate is considered […]
It’s always been a bit of a mystery why anyone should care about bonus share issues. Since a company’s retained earnings are already owned by the shareholders, you would think that converting these earnings into shares shouldn’t have any effect on an investor’s returns. Following a bonus, the share price should logically fall by an […]
The outgoing Iraqi government has faced criticism from economists for failing to increase the value of the Iraqi dinar despite the rise in oil prices on the international market, according to a report from AK News. The dinar continues to suffer from it's significant difference in value from the hard currencies and this divide has […]
Both public and private sectors are working hand in hand to establish and develop a modern financial sector in the Region that can support the economic growth in the Region, measure up with international standards, and be connected to world markets, something that is key to the soundness and efficiency of this sector. The sector […]
USAID through its Provincial Economic Growth Program, today released State of Iraq’s Microfinance Industry, a 52-page report that describes the growth and emerging trends of a microfinance industry that rapidly is building financing systems accessible to all Iraqis. Iraq’s microfinance industry was established seven years ago with financial and technical assistance from the U.S. Agency […]
On July 6, the website of Kurdistan’s Peyamner News Agency reported that Iraq’s second stock exchange had “opened” in the Kurdish city of Erbil. It wasn’t clear what was meant by opening, however. The Erbil Stock Exchange (ESX) was licensed in February and trading is not due to start until later this year. I believe […]
The Iraqi paper Addustour (Constitution) has reported that recent attacks on financial institutions have led some savers to withdraw cash from their bank deposits and keep it hidden at home. At first glance, it might seem that such a trend could potentially lead to runs on the banks or even a breakdown in the payments […]
China's Xinhua News Agency is so far the only source to report on Iraq's new five-year National Development Plan (NDP), announced on Sunday. The plan targets annual economic growth of 9.4 percent and attempts to cut unemployment. The country's 2010-2014 NDP was announced in a televised event in Baghdad attended by top Iraqi officials, including […]
Iraqi police thwarted a bomb attack on a convoy transporting cash to and from Iraq's central bank on Tuesday, detonating it in a controlled explosion after clearing the area, according to a report from AFP. The bomb was planted in a rubbish skip in the Rasheed Street area in the heart of Baghdad, and the […]
Is your business in Iraq or going to Iraq or just thinking about it? Either way our community of subscribers and readers in 112 countries will almost certainly contain people who could become customers or influence buying decisions. Some of them may already be customers. Either way, telling them about your business, keeping your name […]
The assistant of the Central Bank Governor, Ahmad Sultan Al Jamili, said that re-basing the Iraqi dinar is a complicated process. He said that process of dropping three zeros from the currency will take long time.
