Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iran and Iraq will jointly set up a joint bank and trade zone in the near future, the director general of the Trade Promotion Organization of Iran (TPOI) for […]
By John Lee. Iraqi Prime Minister Mohammed Shia' Al-Sudani met with Elizabeth Rosenberg, Assistant Secretary of the US Treasury, and her accompanying delegation on Wednesday. The discussion centered on cooperation between Iraq's financial institutions and the US Treasury, focusing on government actions to implement financial and banking reforms to combat corruption. Prime Minister Al-Sudani emphasized […]
By John Lee. Samsung Electronics Middle East has signed a memorandum of understanding (MoU) with Iraq's Qi Card. According to a press release from Samsung, the partnership "aims to provide advanced technological products and solutions to traders, citizens, and agents of both companies with attractive commercial offers throughout Iraq." It adds: "The two companies will […]
By John Lee. In the latest credit rating report by Standard & Poor's (S&P), Iraq has retained its credit rating at B- / B with a stable outlook. According to the statement from the Ministry of Finance, the report highlights Iraq's financial and economic stability. It continues: "This new rating reflects Iraq's continued economic and […]
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 to Fuel the Market's Next Phase The market, as measured by the Rabee Securities RSISX USD Index, was up 16.3% for the month and up 65.5% […]
By John Lee. Mr. Ziyad Ali Fadel, the Minister of Electricity, welcomed the delegation from German Embassy in Iraq at the ministry's headquarters last week. The delegation included representatives from the German Export Credit Agency and the Executive Director of Siemens in Iraq. During the meeting, Minister Fadel highlighted the strategic partnerships and significant agreements […]
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. The Dinar, and the Conundrum over the Dollar and Iran A report in a […]
By John Lee. Iraq's first digital bank, First Iraqi Bank, has announced the launch of Visa Direct for the first time in the Iraqi market, in partnership with Visa. According to a press release, Visa Direct is a real-time point-to-point payment service that will enable Iraqi consumers to enjoy real time transfers for the first […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will digital banks lure out cash under Iraqi mattresses? In Iraq, years of economic and political instability have created an environment of mistrust that is leading many to avoid depositing their money in […]
From The Economist. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. The plot thickens over Iraq's bank heist The exposure of crookery surrounding Iraq's tax revenues has rattled rulers, past and present. Read the full article here (subscription needed).
By David S Cloud, for the Wall Street Journal. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Cracks Down on Dollar Smuggling Under Pressure From U.S. Washington aims to stop the flow of dollars to Iran. Click here to read the full article […]
By John Lee. Fitch Ratings has placed Iraq's Sumer Commercial Bank PSC's (SCB) Long- and Short-Term Issuer Default Ratings (IDRs) of 'CCC+' and 'C', respectively, and Viability Rating (VR) of 'ccc+' on Rating Watch Negative (RWN). It says the recent ban that prohibits SCB from dealing in US dollars restricts the bank's capacity to repay […]
