Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. The Financial Adviser to the Iraqi Prime Minister, Dr. Mudhhir Mohammed Saleh, has firmly denied social media rumours claiming the destruction of half of Iraq's currency supply - approximately 62 trillion dinars [$47 billion] - as "economically absurd and completely unfounded". In remarks to the state-run Iraqi News Agency (INA), Saleh clarified […]
By John Lee. Iraq's state-owned Rafidain Bank has announced that it has "completed" 87 percent of its foreign debt obligations through high-level legal and financial negotiations, significantly reducing the country's external liabilities. As part of Iraq's adherence to the Paris Club Agreement and with direct Cabinet approval, the bank concluded major settlements with Dutch and […]
By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi Dinar Prospects: Reality Check After Six Months of Trump Six months into Donald Trump's return to the presidency, the Iraqi dinar finds itself at a crossroads between economic fundamentals and persistent speculation. […]
By John Lee. The Ministry of Planning has hosted a consultative session on the "Journey of the Dollar in the Iraqi Economy: Between Monetary Policy and the Market." Organised by the Department of Economic and Financial Policies, the session brought together department heads and staff to analyse the sources, flows, and impact of foreign currency-primarily […]
By John Lee. Erbil-based Region Trade Bank (RTB) has launched a new low-interest loan programme aimed at supporting the installation of solar panels for residential and commercial customers across Iraq. The initiative aligns with the Iraqi government's national decarbonisation strategy and is funded through the Central Bank of Iraq (CBI). The loan scheme offers financing between […]
By John Lee. The Central Bank of Iraq (CBI) has re-issued General Tender No. (2025/1) for the second time, inviting bids for the supply, installation, and operation of 68 currency counting and sorting machines for its branches in Basra (35 machines) and Mosul (33 machines). The tender covers both Iraqi and foreign currencies (USD and […]
By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Trump's Policies and Cryptocurrency: Will Bitcoin's Success Translate to the Iraqi Dinar? The relationship between political leadership and financial markets has rarely been as pronounced as it is today with cryptocurrency. Since Donald […]
By John Lee. In a follow-up to last week's report on the state of the Iraqi economy, the International Monetary Fund (IMF) has issued a more comprehensive 64-page report on its findings. The full document package includes: A Press Release. The Staff Report prepared by a staff team of the IMF for the Executive Board's […]
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 […]
