Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. Iraq's banking sector reform programme is continuing in coordination with Oliver Wyman, with further positive developments expected in the coming period, including greater integration with the international financial system. The Central Bank of Iraq (CBI) also plans to launch new lending initiatives to support investment and strengthen the role of the private […]
By John Lee. The Central Bank of Iraq (CBI) has issued a statement reassuring depositors that supervisory measures imposed on licensed banks do not indicate insolvency, and that depositors' funds remain protected under existing laws and regulations. According to the CBI, the appointment of supervisory or receivership committees at a licensed bank is a precautionary […]
By John Lee. Iraq's Ministry of Finance has held talks with a delegation from the Chinese-based Asian Infrastructure Investment Bank (AIIB) on financing infrastructure projects and supporting development priorities in Iraq. The delegation was led by Konstantin Limitovsky. According to the Ministry of Finance, discussions covered the bank's activities in financing transport, energy, water, and […]
By John Lee. Al-Taif Islamic Bank for Investment and Finance has been placed in receivership following the discovery of serious violations that affected its financial position and depositors' funds. The Central Bank of Iraq (CBI) announced the measure today (Thursday, 3rd September), citing Article 59 of the Banking Law No. 94 of 2004 (as amended). […]
The following were the ten most read dinar-related articles on Iraq Business News for the month of August: Iraq "Considers Removing Three Zeros from Dinar" Iraq Considers Deleting Zeros from Dinar; Officials Revive Currency Overhaul CBI Denies Reports of New Redenominated Currency You Bought Iraqi Dinars. Now What? "Deleting the Zeros": What Iraq Actually Said, […]
By John Lee. The Central Bank of Iraq (CBI) has denied media reports that it is printing new banknotes with zeros removed, ahead of a planned currency redenomination. In a statement on Wednesday, the CBI said the reports have no official basis and that no new redenominated currency is being printed. It added that any […]
By John Lee. Iraq's Finance Minister and the South Korean Ambassador to Iraq have met to discuss the financing of an air defence system contract agreed between the two countries. According to Iraq's Ministry of Finance, Faleh Sari met with Ambassador Lee Jae-myung on Wednesday. Also present were the Iraqi Army Chief of Staff, Lieutenant […]
From The New Region. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq to Slash Three Zeros from Currency, Introduce New Notes Iraq is set to remove three zeros from its currency in a bid to rebrand the dinar and support digitizing transactions to […]
By Sharareh Abdi. Iraq Is Digitising Payments. What Should Come After the Payment? Iraq's payments market is changing faster than its traditional image as a cash-dominated economy might suggest. According to the Central Bank of Iraq, domestic card-based financial transfers reached more than 58 million transactions in 2024, up 213.6% from the previous year. Their total […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Records $16 Billion Budget Deficit in First Half of 2026: Ministry Iraq has spent some 57.18 trillion dinars (roughly $43.5 billion) in the first six months of 2026 while revenues stood at just […]
By John Lee. Loans for contractors on residential units at the Bismayah housing project are to be released through Rafidain Bank, following an emergency meeting between the National Investment Commission (NIC) and the Ministry of Finance. NIC Chairman Adel Dakhil Muhammad al-Yasiri met with Finance Ministry Undersecretary Dr. Ali Karim Hussein on Thursday to resolve […]
By Sinan Mahmoud, for The National. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq Considers Deleting Zeros from Dinar as Officials Revive Currency Overhaul Iraq is again considering a long-standing and controversial plan to delete zeros from the dinar as the country […]
