Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. SACE the state-owned Italian insurance and financial group, which specialise in supporting Italian companies and the national economy, has entered an agreement with the Trade Bank of Iraq (TBI) to support the development of the private sector in Iraq by promoting Made in Italy exports to the country, with a total value […]
By John Lee. The Trade Bank of Iraq (TBI) is joining My Account, the Kurdistan Region's "salary domiciliation program." A statement from the KRG said: "Following the instructions of Prime Minister Masrour Barzani, representatives from the Kurdistan Regional Government and My Account program held several meetings this week with representatives of the Trade Bank of […]
By John Lee. Under the auspices of Prime Minister Mohammed Shia' al-Sudani, a memorandum of cooperation was signed today between the Trade Bank of Iraq (TBI) and the Japan International Cooperation Agency (JICA), attended by Deputy Prime Minister and Minister of Planning Mohammed Tamim, and the Prime Minister's Technical Advisor Mohammed Sahib al-Daraji. The agreement […]
The International Labour Organization (ILO) and the Central Bank of Iraq (CBI), with the support of the Italian Agency for Development Cooperation (AICS), are partnering to empower individuals and businesses in southern Iraq with financial literacy skills. A week-long initiative kicked off in Al-Muthanna governorate this week aligns with the CBI's broader Financial Inclusion Week […]
By John Lee. The Iraqi Ministry of Planning held a meeting with the Japan International Cooperation Agency (JICA) to discuss the possibility of continued loans to fund new development projects in Iraq. These projects cover sectors such as health, electricity, sanitation, and the Basra refinery. Dr. Maher Hamad Johan, the ministry's Undersecretary for Technical Affairs, […]
By John Lee. Fitch Ratings has affirmed Trade Bank of Iraq's (TBI) Long-Term Issuer Default Rating (IDR) at 'CCC+', Short-Term IDR at 'C' and Government Support Rating (GSR) at 'ccc+'. Fitch has removed the Stable Outlook on TBI's Long-Term IDR, which was previously published in error. It says the rating reflects, "the absence of any […]
By Dana Taib Menmy for The New Arab. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Federal Board of Supreme Audit exposes US$600 million corruption scandal involving 'ghost travellers' Over 151,000 Iraqi citizens acquired US currency at the official rate for travel but […]
By John Lee. The International Monetary Fund (IMF) has published a "High Level Summary Technical Assistance Report" looking at the tax system in Iraq. The report identifies six core reform areas: Establishing a reliable taxpayer base; Improving core functions through implementation of the SA system; Focusing on large taxpayers' compliance; Organizational design and workforce planning; […]
By John Lee. Prime Minister Mohammed Shia al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday, during his visit to the Washington DC. During the meeting, they discussed the government's efforts in implementing financial and banking reforms, aiming to revitalize the economic situation and achieve development. They also […]
By Ahmed Tabaqchali, Chief Strategist of Asia Frontier Capital (AFC) Iraq Fund, for the London School of Economics (LSE) Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A fistful of Dinars: demystifying Iraq's dollar auction The Central Bank of Iraq's (CBI) […]
By John Lee. A delegation from Iraq, led by Deputy Prime Minister and Minister of Planning Mohammed Tameem, met with a delegation from the United States government, headed by Secretary of State Antony J. Blinken, in the High-Level Coordination Committee (HCC) meeting yesterday, April 15th. The meeting was held in accordance with the 2008 Strategic […]
By John Lee. Following approval from the Central Bank of Iraq (CBI), the KRG has announced that the Bank of Baghdad will join its 'MyAccount' financial inclusion initiative. In a statement, the KRG said: "Bank of Baghdad's participation will help increase banking products and services and accelerate the emergence of consumer credit for the people […]
