Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. The International Monetary Fund (IMF) has issued a brief explainer on Iraq's exchange rate arrangement. As part of a follow-up to last week's report on the state of the Iraqi economy, the IMF clarified as follows: "Exchange Rate Arrangement "Iraq's de jure and de facto exchange rate arrangements are classified as a […]
By John Lee. A new report from the International Monetary Fund (IMF) has said that the restructuring of state-owned banks (SOBs) can foster the development of the private sector and improve growth. It adds: "Strengthening the financial sector can support private sector credit, fostering investment and growth. "To this end, the authorities are finalizing a […]
By John Lee. The Executive Board of the International Monetary Fund (IMF) issued a statement on Wednesday (9th July) following the conclusion of its Article IV consultation with Iraq. It projects an average exchange rate (dinar per US$) in each of 2025 and 2026 of 1300, the same as for 2024, adding: "The CBI [Central […]
By John Lee. State-owned Rasheed Bank has launched specialised loans for purchasing renewable energy systems, specifically solar panels, with financing provided directly by the Central Bank of Iraq (CBI). The initiative allows citizens and public sector employees to apply for loans of up to 30 million Iraqi dinars [$21,000], at an interest rate of just 3 […]
By John Lee. The Central Bank of Iraq (CBI) has held a three-day training workshop in Erbil on the "Core Standards for Detecting Counterfeit Currency," in collaboration with its branch office in the Kurdistan Region. Organised by the CBI's Banking Studies Center, the workshop runs from 1st to 3rd July 2025 and includes participation from […]
By John Lee. UAE-based venture capital fund EQIQ has announced a $3-million anchor investment in a new digital banking startup led by Iraqi-American finance veteran Hussain Qaragholi (pictured). The total $15-million funding round will support the launch and early growth of the next-generation, AI-driven platform. The new venture aims to transform Iraq's underdeveloped banking sector […]
By John Lee. The Central Bank of Iraq (CBI) has announced that bank lending to the private sector grew by 1.1% in Q1 2025, reaching IQD 44.1 trillion [$24.5 billion]. This was up from IQD 43.6 trillion in Q4 2024, and reflects a gradual expansion in credit access for individuals and private projects. (Source: CBI)
By John Lee. The Central Bank of Iraq (CBI) reports that inflation fell in the first quarter of the year. The latest data shows an inflation rate of 2.2 percent in Q1 2025, down from 2.8 percent in Q4 2024. This points to a reduction in the general price level and an improvement in purchasing […]
By John Lee. Iraqi currency in circulation fell by 0.6 percent in the first quarter of 2025, according to a statement from the Central Bank of Iraq (CBI). It said money supply fell from IQD 100.5 trillion [$76.7 billion] to IQD 99.9 trillion. The reduction is expected to help contain inflation and maintain price stability. […]
By John Lee. The Central Bank of Iraq's gold reserves rose sharply in the first quarter of 2025. A statement from the CBI said gold reserves reached IQD 21.2 trillion [$16.2 billion], an increase of 19 percent from the IQD 17.8 trillion held in the previous quarter. It added that gold remains a vital component […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani inaugurated the new 'Construction Basket' initiative on Wednesday, an innovative programme designed to provide citizens with access to building materials at competitive prices and on convenient instalment terms. The centre, located at the newly-opened Cooperation Center for Construction, is a joint venture between the Ministry of […]
By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Q: Following your recent article on the Dinar Revaluation (RV) and Israeli Airstrikes on Iran, the situation in the region has progressed. What is your current assessment as it relates to the dinar […]
