Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. Back in January, Iraq Business News ran an online survey asking opinions on a revaluation of the Iraqi dinar following the inauguration of US President Donald Trump. This survey did not pretend to be scientific, as respondents were self-selecting, leading to a high risk of sampling bias, but it served to show […]
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a meeting on Sunday to review the reform process for Rafidain Bank and Rasheed Bank, with representatives from Ernst & Young (EY) in attendance. The discussions focused on aligning the banks' operations with international standards, addressing debt repayment mechanisms, and enhancing staff training. The Prime Minister […]
By John Lee. Iraq's Minister of Finance, Taif Sami, met with Jean-Christophe Carret, the World Bank's representative in Iraq, to discuss strengthening economic and financial cooperation. The discussions focused on strategic projects aimed at stimulating economic growth, creating jobs, and developing infrastructure and human capital. Minister Sami emphasized Iraq's commitment to leveraging technical and financial […]
By John Lee. Iraq's delegation concluded its meetings with the International Monetary Fund (IMF) in Amman (February 24-26), with participants including Minister of Finance Taif Sami and the Governor of the Central Bank of Iraq (CBI). Discussions focused on Iraq's economic performance and sustainable growth prospects, with the IMF acknowledging the progress made. Key discussions […]
By John Lee. The Central Bank of Iraq (CBI) has announced a new initiative to support clean energy solutions, aligning with global sustainability efforts and the environmental policies of central banks worldwide. As part of its renewable energy initiative, CBI will offer low-interest loans to local brick factories, enabling them to switch from high-pollution fuel […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Banks End a Second Year with a Bang The market, as measured by the Rabee Securities U.S. Dollar Equity Index (RSISX USD Index), continued with the process […]
By John Lee. The Central Bank of Iraq (CBI) has decided to revoke the licence of Al-Tufan Company for Currency Exchange and Brokerage due to what it describes as violations of Regulation No. (1) of 2022, which governs the operations of exchange and brokerage firms in Iraq. Click here to see the full statement from […]
By John Lee. The Central Bank of Iraq (CBI) has reported a 5.4-percent increase in banking sector loans and advances in Q4 2024, reaching IQD 64.12 trillion [$49 billion], up from IQD 60.81 trillion in the same period of 2023. According to state-run Iraqi News Agency (INA), the CBI noted that this growth reflects improved […]
By John Lee. The Central Bank of Iraq (CBI) has reported a 45.1-percent increase in its gold reserves in Q4 2024 compared to the same period in 2023. Reserves rose from IQD 12.29 trillion in Q4 2023 to IQD 17.83 trillion [$13.6 billion] in Q4 2024, driven by both an increase in gold holdings and […]
By John Lee. In his speech to a conference in Baghdad, Ali Mohsen Al-Allaq, Governor of the Central Bank of Iraq (CBI), highlighted significant progress in digital payments, citing an increase in ATMs and e-wallets, which helped boost financial inclusion to 40% from 20% in just two years, supported by CBI initiatives. He noted that […]
By John Lee. The Real Estate Bank of Iraq has unveiled its strategic plan for 2025, focusing on expanding financial services, digital transformation, and green financing. Director General Abbas Shihab Al-Jawahiri chaired a meeting with department heads, branch managers, and unit officials to review progress in 2024 and set priorities for 2025. According to a […]
By John Lee. Iraq's Higher Committee for Tax Reform has announced a 22-percent increase in tax revenues, reaching IQD 4 trillion [$3 billion] in 2024, as the country moves towards digitising its tax system to address name duplication issues and improve efficiency. According to state-run Iraqi News Agency (INA), Khalid Al-Jabri, a committee member, stated […]
