Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. Germany's Frankfurt School of Finance and Management has won a contract with the International Labour Organization (ILO) to, "enhance the operational efficiency and effectiveness of the Iraqi Company for Bank Guarantees (ICBG)." The contract value was not disclosed. According to information provided by the UN, the project has four primary objectives: Optimize […]
By John Lee. Standard Chartered has successfully arranged a $95-million term loan for the Iraqi Ministry of Finance, supporting the supply of five electrical substations across northern and southern Iraq. The financing, backed by a 100% UK Export Finance (UKEF) guarantee, covers both political and commercial risks. The Ministry of Electricity will use the funds […]
By John Lee. S&P Global Ratings has affirmed its 'B-' long-term and 'B' short-term foreign and local currency sovereign credit ratings on Iraq. "The outlook is stable," it added. More details, including economic stats, here. (Source: S&P Global Ratings)
By John Lee. Iraq's Minister of Finance met with a delegation from the German Agency for International Cooperation (Deutsche Gesellschaft für Internationale Zusammenarbeit, GIZ), the European Union, and the German Embassy in Baghdad, alongside representatives from the Central Bank of Iraq (CBI), the Federal Integrity Commission, the Federal Board of Supreme Audit (FBSA), and the […]
By John Lee. The Iraqi government, in collaboration with the Central Bank of Iraq (CBI), has launched a strategic initiative to modernise the country's banking sector. The reforms aim to enhance banking standards, strengthen financial resilience, and improve Iraq's integration with global financial systems. Key pillars of the initiative include: Governance and Ownership: Strengthening transparency […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq imports over 50 kilograms of gold daily: Ministry Iraq imports between 50 to 75 kilograms of gold daily excluding the Kurdistan Region, the planning ministry said on Wednesday, adding that gold imports are […]
By John Lee. The Washington DC-based Institute for Financial Integrity (IFI) has announced the launch of the Financial Integrity and Cross-Border Payments Training Program for the National Bank of Iraq (NBI), developed in partnership with the Central Bank of Iraq (CBI) and K2 Integrity. According to a press release from IFI, this groundbreaking initiative aims […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, participated in the Iraq Energy 2025 Conference in Baghdad, organised by the Iraq Development Platform. During a panel discussion, the Governor highlighted the CBI's adoption of non-traditional monetary policies aimed at economic stability. He emphasised the bank's role in financing […]
By John Lee. A leading Iraqi economist has predicted that US President Donald Trump's pressure to reduce oil prices will harm the Iraqi economy, and could lead to a devaluation of the Iraqi dinar. In a post on Facebook, Dr Nabil Jaafar Al-Marsoumi, former Professor of Economics at Basra University, and member of the Advisory […]
By John Lee. Iraq's Central Organisation for Standardisation and Quality Control (COSQC) has opened its fourth unit for testing and hallmarking precious metals and imported gold at Kirkuk International Airport. The ceremony, led by Dr. Fayadh Mohammed Abdul-Dulaimi, COSQC President, was attended by key officials, including airport customs and border management representatives. Dr. Abdul-Dulaimi highlighted […]
By John Lee. Prime Minister Mohammed S. Al-Sudani met this week with Fahd bin Mohammed Al-Turki, Chairman of the Arab Monetary Fund, to discuss closer collaboration. Strategic Partnership and Support: Iraq is committed to supporting the Arab Monetary Fund's activities, emphasizing its role as a founding member and major contributor to the Fund. Development Goals: […]
By John Lee. The Financial Action Task Force (FATF) has completed an assessment of Iraq's measures to combat money laundering and terrorist financing, and this week published its report. The assessment is a comprehensive review of the effectiveness of Iraq's measures to protect the financial system from abuse and its level of compliance with the […]
