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 […]
Archive | Iraq Banking & Finance News
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
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
Talafar Asks Nineveh to Reconsider Its Budget Allocation
Talafar Directorate in Nineveh Province called on the Province Council to reconsider its share of the current year’s budget since it only covers 25% of the province’s needs. However, Sinjar doubted that the government will agree. Talafar governor Abdul Al Abbas said that 10.9 billion dinars were allocated for the region. This amount is not […]
Iraqis in Vietnam to Foster Relations
An Iraqi diplomatic delegation on Tuesday held a meeting with the Vietnamese foreign minister, with whom they discussed ways of boosting diplomatic and economic relations, according to a foreign ministry’s statement. “The delegation, led by Undersecretary of Iraqi Foreign Ministry Labied Abbawi, expressed Iraq’s desire to strengthen relations with Vietnam in various domains,” said the […]
German Company Seeks to Increase Investments in Basra
A German company met with the Basra Investment Commission on Wednesday to discuss increasing its investments in the province, according to a commission official. “The IQ MARTRADE Company is considering investment in berth 8 at Khour al-Zubeir port, and is also keen to establish a factory to make oil pipes in the province,” Ahmad Wahied […]
New Financing Arrangements Help Expand Internet Access
Iraqi internet service provider FastIraq is to connect more than 100,000 homes and offices to the internet, following the arrangement of funding with Dar Es Salaam Investment Bank (“DES”). FastIraq was advised by Northern Gulf Partners (“NGP”), which secured finance based on projected cash-flow; this is a significant departure from the traditional requirement to secure […]