Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. The Iraqi Judiciary has recovered 11 billion dinars [$8.4 million] following a financial fraud case involving a company that illegally profited from currency exchange rate differences through fraudulent overseas money transfers. According to a statement from Iraq's Commission of Integrity, the recovery was led by the Second Karkh Investigation Court, under the […]
By John Lee. Customers have reportedly expressed widespread satisfaction with the smooth and organized process of dollar distribution at branches of the state-owned Al-Rafidain Bank. The bank says it has been distributing $2,000 per pilgrim at the official rate of 1,320 IQD per dollar, as set by the Central Bank of Iraq (CBI). In a […]
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Hoarded Wealth, Frozen Economy: Iraq's Hidden Cash Crisis Deepens For many Iraqis, banks are not seen as safe havens but as unreliable or even risky institutions. And for countless others, personal experiences of fraud […]
By John Lee. The Central Bank of Iraq (CBI) has announced that pilgrims can purchase dollars through designated banks and companies in Baghdad and other provinces. The process involves exchanging Iraqi dinars for US dollars at the branches of participating banks and companies. Further details and a list of the authorized entities are available on […]
By John Lee. Iraq's Ministry of Finance signed two new credit agreements on Tuesday with the French development agency, Agence Française de Développement (AFD), to finance critical infrastructure projects in the sanitation sector. The first agreement includes a €30-million supplementary loan for the sewage project in Khalidiya district, Anbar, raising total funding for the project to […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired a high-level meeting with the heads of Iraqi banks on Monday, reaffirming his government's commitment to banking reform as a pillar of broader economic revitalisation. He directed all banks to simplify procedures, embrace modern technologies, and encourage public confidence by stimulating deposits. The Prime Minister announced […]
By John Lee. The Central Bank of Iraq (CBI) has issued new regulations for electronic payment service providers. The 48-page document targets money laundering and terrorist financing. Click here to see the full statement from the CBI [Arabic]. (Source: CBI)
By John Lee. Iraqi Finance Minister, Mrs Taif Sami Mohammed, along with the Governor of the Central Bank of Iraq (CBI), Dr Ali Al-Alaq, participated in the Annual Spring Meetings of the World Bank and the International Monetary Fund (IMF), held in Washington from 20-23 April 2025. The discussions focused on global economic challenges, financial […]
By John Lee. The European Bank for Reconstruction and Development (EBRD) has amended its statutes, enabling it to expand operations into sub-Saharan Africa and Iraq. According to a statement from the bank, this pivotal change redefines the Bank's geographic remit and follows approval by its Board of Governors in 2023. The amendment will formally take […]
By John Lee. Iraq's Ministry of Planning held discussions with representatives of the German Agency for International Cooperation (Deutsche Gesellschaft für Internationale Zusammenarbeit; GIZ) in Iraq to explore cooperation and developmental transformation. Key areas of focus included a joint international cooperation agreement, the establishment of offices for the German Development Bank (Kreditanstalt für Wiederaufbau; KfW) […]
By John Lee. The Central Bank of Iraq (CBI) has revoked the licence of Taiba Land Company 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 the CBI. (Source: CBI)
By John Lee. The Central Bank of Iraq (CBI) has issued a warning to the public regarding the circulation of foreign banknotes - including authentic, withdrawn, and counterfeit currency - used by fraudsters to deceive citizens. According to the CBI, criminals lure individuals into exchanging these notes for Iraqi dinars at inflated rates under the […]
