Ministry of Finance announced the approval of the Joint Committee recommendations of Finance and Defense Ministries on service and military retirement Law. A statement issued by the Information Office of the Finance Ministry said that Finance Minister, Baqir al-Zubeidy, approved the recommendations of the Joint Commission to implement Article 98 concerning private pay and grades […]
Archive | Iraq Banking & Finance News
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
BBAC Launches Its Banking Services in Erbil
In line with its regional expansion strategy, BBAC s.a.l. (Bank of Beirut and the Arab Countries) has announced the start of operations in its new branch in Erbil, Iraq. This comes in response to the needs of the Iraqi market and the demands of Lebanese establishments and citizens in Iraq as well Iraqi people, Arabs […]
Iranians in Karbala for Investments
An Iranian investment delegation is in Karbala. “The delegation will be in Karbala for three days,” a local source told Aswat al-Iraq news agency on Wednesday. He noted that the delegation’s members expressed readiness to execute different investment projects in Karbala. ( Aswat Al Iraq )
Romanian Firms to Invest in Karbala
Karbala’s Investment Commission on Tuesday signed a Memorandum of Understanding with a group of eight Romanian firms that are willing to invest in the province. “The document indicates investment projects within the fields of housing, farming, environment, and roads,” a local source told Aswat al-Iraq news agency. He noted that the Romanian delegation has been […]
Finance Minister Urges Investment in Missan
Finance Minister Baqer al-Zubaidi on Monday gave orders to facilitate investments in Missan, according to a ministerial statement. “The minister received the Chairman of the Missan Council, Abdulhussein Abdulreda al-Saadi, with whom he discussed the most important service projects,” said the statement received by Aswat al-Iraq news agency. He urged provinces to play a role […]
CBI Dollar Sales Up to $156m
The Central Bank of Iraq’s (CBI) dollar sales went up to reach $156.425 million in its daily auction on Monday, compared to $127.650 in the previous session. “The demand hit $5.400 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $151.025 million in foreign transfers outside the country, covered […]
Iraq to coordinate with USA to reform the economic system
"Iraq needs the financial expertise of the United States to reform its economic system that suffers a lot of insecurity, and one of the main reasons for the delayed evolution of the economic system is the legislation and the old laws which do not fit with the evolution of the financial situation in the country."
Tags: Al-Allaq
Finance Minister Urges Ambassadors to Attract Investments to Iraq
Finance Minister Baqer al-Zubaidi urged Iraqi ambassadors to Egypt, South Korea and Belarus to attract investments to Iraq, mainly in housing and energy sectors, according to a ministerial statement on Wednesday. “This came during his meetings with ambassadors to Egypt, Nezar al-Khierallah, South Korea, Ismail Shafiq, and to Belarus, Haidar Masour. He urged them to […]
Turkish (ف Bank) to Open in Erbil
Turkish (ف Bank) intends to open a branch in Erbil, according to a senior official from the Department of international banks in the bank. The official said that the bank had started to establish a Division in Erbil, which is more secure than other areas, adding that after completion, they will consult the Iraqi Central […]
5-year Development Plan Approved
The Council of Ministers on Tuesday approved the five-year development plan (2010-2014). “The council approved today (April 27) the five-year development plan after taking into consideration the proposed adjustments by some ministries,” official spokesman Ali al-Dabbagh told Aswat al-Iraq news agency. ( Aswat Al Iraq )
Former Lubbock Resident in Charge of Iraq's Largest Bank
The head of Iraq's largest financial institution was once a Lubbock resident. Texas Tech graduate Hussein Al-Uzri is the head of the Trade Bank of Iraq. Al-Uzri returned last week for a visit. "It's always been my dream to come back to Lubbock and Texas Tech and see the great development that has happened here," […]
Trade Bank of Iraq Welcomes American Investment
"Iraq is an under-banked country, having only 550 bank branches for a population of approximately 30 million. We have to increase the number of banks and put more Iraqis back into the banking sector. American finance banks and finance institutions can help us.
Tags: Trade Bank of Iraq