The Iraqi government signed an agreement with the Chinese government to write off 80% of Iraq’s debts.
China writes off 80% of debts
Archive | Iraq Banking & Finance News
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Rate Cuts to Boost Lending
Iraq's central bank slashed its base rate by 100 base points to six per cent as of April 1 in reaction to subdued inflation and to boost bank lending, senior advisers at the bank said. The bank's website said that the rate cut - the first in nine months - was effective as of April […]
Dollar Sales Drop to 132m on Sunday
The Central Bank of Iraq’s (CBI) dollar sales reached $132.874 million in its daily auction on Sunday, compared to $167.325 in the previous session. “The demand hit $7.570 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $125.304 million in foreign transfers outside the country, covered at an exchange […]
Economic Agreement with Lebanon
Iraq government spokesman Al Dabbagh said that the Cabinet agreed to give the Minister of Finance the power to negotiate and sign a draft resolution to activate and protect mutual investments between Iraq and Lebanon. Al Dabbagh added that the agreement includes 12 items. It stipulates that each of the contracting parties guarantees fair treatment […]
Iraqi Banking Sector Flourishes
Iraq Private Bankers' League (IPBL) said that the capital of Iraqi private Banks increased from $30 million in 2004 to $1.6 billion today.
Iraq Stock Exchange Expects 50 Percent Boost from Securities Package
The Iraq Stock Exchange expects to boost business by 50 percent once new securities legislation is in place as new foreign investment i drawn in.
Iraq Lobbies for Cut in War Reparations
Iraq is seeking to reduce the amount of annual oil revenue it sets aside for war reparations, primarily to Kuwait, by 80 percent, the Iraqi ambassador to the United Nations told Reuters on Tuesday. Nearly 20 years after Iraq, then under the rule of Saddam Hussein, invaded its oil-producing neighbor, Baghdad is pressing the U.N. […]
Compensation Payments Should Continue - UN
The UN on Tuesday expressed satisfaction that the Iraqi Government is willing to continue to pay five percent of its oil revenues into the Compensation Fund whether under the present mechanism or a successor mechanism to the Development for Iraq (DFI) whose mandate expires in December of this year. "It is important to ensure that […]
Governor Invites Locals to Rebuild Kirkuk
Kirkuk Gov. Abdilrahman Mustafa on Monday has invited local investors to rebuild their province. "Those investors should actively participate in rebuilding and developing their province," a local provincial media source quoted Mustafa to Aswat al-Iraq news agency. Mustafa noted that investment is a pillar to develop countries, according to the source. "Local authorities in Kirkuk […]
Greeks Seek Opportunities in Missan
Missan’s governor discussed on Tuesday with a delegation from a Greek company the possibilities of investing in the province, mainly in the housing sector, according to a media official. “Governor Mohammad al-Shayaa al-Sudani held a meeting on Tuesday (April 6) with a local delegation representing a Greek company to discuss the possibility of setting up […]
Kurdistan’s Parliament to Discuss Budget Bill
Kurdistan region’s parliament will resume discussion of the general budget draft law on Thursday, according to the media advisor to the Parliamentary Chairman. “Parliament’s Speaker Kamal Karkouki invited all legislators to attend next Thursday’s session at 10:30 a.m. to resume discussing the draft law,” Tareq Jawhar told Aswat al-Iraq news agency. The parliament had discussed […]
Finance Minister to Sign UAE Agreement
Iraqi government has authorized the Finance Minister to sign an investment agreement with the United Arab Emirates (U.A.E.). It said that the authorization will facilitate investments in Iraq. ( Aswat Al Iraq )