An investor has submitted an agricultural investment project costing $24 million to the north of Amara city, the head of the Missan Investment Commission (MIC) said on Monday. “The investor presented the project to the MIC, which includes a milk factory and livestock raising as well as the establishment of sheds on 70,000 donums,” Dr. […]
Archive | Iraq Banking & Finance News
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Kurdistan Ready to Receive Egyptian Investments - Barzani
President of Iraq’s Kurdistan region, Massoud Barzani, said on Monday that Kurdistan is ready to receive Egyptian investors and businessmen. He has accepted an invitation to visit Egypt, according to a presidential statement. “President Barzani received the Egyptian Ambassador to Iraq, Sharief Kamal al-Din Shahin at the Salah el-Din resort in Arbil,” said the statement […]
Iraq Gov’t Bank Managers Arrested, $360m Missing
Three managers of state-owned Iraqi banks have been arrested on suspicion of using bogus transfers to siphon off billions of dollars of government money to invest in private business.
Tags: Corruption
Finance Minister Launches ID200b Project in Baghdad
Iraqi Finance Minister Baqer Jabr al-Zubaydi announced on Thursday that his ministry has earmarked 200 billion Iraqi dinars for the 10×10 project in the eastern Baghdad district of Sadr City, according to a press release. “During a meeting with the municipal council of Sadr City, Zubaydi called for investing the sum this year in the […]
CBI Dollar Sales Go Down to $118m
The Central Bank of Iraq’s (CBI) dollar sales went down to reach $118.416 million in its daily auction on Thursday, compared to $135.430 in the previous session. “The demand hit $60,000 in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $118.356 million in foreign transfers outside the country, covered at […]
Tags: CBI, Iraq Banking & Financial News
Banker Bemoans Foreign Banks' Reluctance To Set Up In Iraq
Mudhhir Mohammed Saleh, who is a member of the Central Bank's board of advisers, told RFI that foreign banks are conspicuous by their absence in Iraq for a variety of reasons, including security concerns and the lack of a favorable legal framework.
Tags: Banks, Investment
Barzani Meets German Investors in Arbil
The President of Iraq’s Kurdistan region Massoud Barzani received the German deputy trade minister and his accompanying delegation on Wednesday at the Salah el-Din resort in Arbil, according to a presidential statement. During the meeting he announced the inauguration of the German trade and industrial office in Kurdistan to facilitate the work of German investors […]
CBI Dollar Sales Down to $135m
The Central Bank of Iraq’s (CBI) dollar sales went down to reach $135.430 million in its daily auction on Wednesday, compared to $155.700 in the previous session. ( Aswat Al Iraq )
Tags: CBI, Iraq Banking & Financial News
Samarrai Optimistic About Investment
The Iraqi parliament Speaker Iyad al-Samarrai, said that Iraq was about to witness a surge of large foreign investment because of many signed oil agreements. Samarrai confirmed that, "International companies have started investing in Iraq which leads to further investment, referring to Turkish and Iranian companies and several European firms whch have shown strong interest […]
Read our new Expert blogger on economics and finance starting this week
The sovereign debt crisis in Europe could be bad news for the Iraqi economy if it leads to a sustained bear market in oil. But a more likely outcome is that the crisis will cause central banks to continue their ultra-loose monetary policy, thereby benefiting Iraq by keeping oil prices high. Our new expert Blogger, […]
The remarkable survival of Rafideen Bank
The Manager of Rafideen bank, Alyasiry, said Wednesday that the bank has overcome a recommendation by a foreign company to sell or privatize the bank. The company was called in to evaluate the bank’s financial situation after 2003. He says that the bank is working on completing the rules of comprehensive electronic exchange which would […]
Indians Discuss Investment in Basra
Indian Charge d’ Affaires in Baghdad discussed on Monday with Basra deputy governor ways of boosting investment cooperation and the possibility to open an Indian consulate in the province, according to an official spokesman of the deputy governor. “Deputy Governor Nezar Rabia al-Jaberi discussed on Monday (May 24) with Indian Charge d’ Affaires in Baghdad, […]