Archive | Iraq Banking & Finance News

Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.

CBI allows SMEs to Defer Loan Repayments

By John Lee. The Central Bank of Iraq (CBI) has announced that the repayment of loans obtained under its '1 and 5 trillion dinars' finance initiatives for small and medium size businesses (SMEs) will be suspended for three months. According to a statement from the Government of Iraq, the move is an attempt to ease […]

Integrity Commission restored $2bn to Iraqi Treasury

From Middle East Monitor, under a Creative Commons licence. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq’s official anti-corruption agency stated in its latest annual report that it restored 2.84 trillion Iraqi dinars ($2.38 billion) to the Treasury in 2019. The Federal […]

Trade Bank of Iraq reports 68% Jump in Net Profit

By John Lee. The Trade Bank of Iraq (TBI) has reported that it has achieved a "robust growth" in revenues and in key financial areas during 2019, for another consecutive year with its consistent performance, preliminary report released by the bank for the financial year during 31/12/2019. In a statement, the bank said it posted […]

Iraq 2020 - Discovering Business

Iraq Business News is delighted to bring you a major new guide to business in Iraq. Published by Allurentis, in association with Iraq’s National Investment Commission (NIC), Iraq 2020 - Discovering Business contains a wealth of case studies, commentary and data; it’s 68 pages of essential reading for everyone with an interest in the redevelopment […]

Serious Questions on the Appreciation of Iraqi Dinar

The Iraqi Economists Network (IEN) has just published a new report from our Expert Blogger Dr Amer K. Hirmis: Mudher M. Saleh’s testimony re: the appreciation of Iraqi Dinar in 2006-8, raises serious questions? The purpose of this note is to shed light, and comment, on two views expressed recently in relation to the appreciation […]

UGH gets Approval to buy stake in Bank of Baghdad

By John Lee. Bahrain-listed United Gulf Holding (UGH) has received approval from the Central Bank of Iraq (CBI) to buy a 51.8 percent stake in Bank of Baghdad. According to The National, the company will acquire the stake from Kuwait-based Burgan Bank. The stock-market announcement can be found here. (Sources: UGH, The National)

Tabaqchali: US Sanctions and the Illusion of Power

By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. This article was originally published by the LSE Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Demands for the expulsion of US troops following the killing of Iranian general Qassem […]

IBBC Council meeting, Sector Tables and Members’ Dinner

IBBC hold Council Meeting, Sector roundtables, Reception & Dinner for Members on 28 and 29 January The Iraq Britain Business Council (IBBC) held its Council Meeting, Dinner & Reception for IBBC Members and distinguished guests on 28 January. The Council Meeting, hosted by Baroness Nicholson of Winterbourne, President of IBBC and the Prime Minister’s Trade […]

Iraq "Well Positioned" to Service its Debts

By John Lee. Iraq is well positioned to service its debt obligations, according to an article in Australia's Investor Daily. Responding to the question "what’s your view on bonds issued by Iraq’s government?", Mark Baker writes: "Iraq is a net external creditor, meaning its external assets are greater than its external liabilities. That means the […]

Govt Finance Schemes to Support SMEs, Innovation

Iraqi government’s finance schemes to support SMEs and business innovation To support small and medium private-sector projects, the Iraqi government, through the Central Bank of Iraq (CBI) and with the participation of a number of private and state-owned banks, has made available several types of loans. The loans are available to all Iraqis. According to […]