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Archive | Iraq Banking & Finance News
Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Tags: conferences, e-Commerce, e-government, featured, Iraq Britain Business Council (IBBC), mn, United Kingdom
Delegation from JP Morgan visits Iraq
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani met with a delegation from J.P. Morgan Bank, including Daniel Zelikow, Vice Chair, and Mr. Ghali Laraki, Head of MENA Public Sector Group. The meeting focused on supporting Iraq's banking sector, the Central Bank of Iraq (CBI), and the private sector. Discussions also touched on international […]
Tags: Central Bank of Iraq (CBI), Development Fund for Iraq, featured, Industrial Bank, JPMorgan, mn, Trade Bank of Iraq (TBI)
Central Bank of Iraq Increases Gold Holdings
By John Lee. The Central Bank of Iraq (CBI) has recently acquired approximately 2.3 tons of gold, leading to a 1.79-percent increase in its overall gold holdings. With this purchase, the bank's total gold reserves now stand at 132.74 tons, maintaining its rank at 30 among the world's gold-holding nations. The Investments Department of the […]
Asiacell, QiCard, and Digital Zone join forces in Iraq
By John Lee. Iraqi telecom provider Asiacell, fintech Qi and platform Digital Zone have officially announced a strategic alliance. According to a statement from Asiacell, this integration will empower millions of Asiacell and Qi's shared customers to carry out purchases using their Qi payment cards seamlessly. This promises a smooth retail experience, fostering financial inclusion, […]
IrisGuard, NassWallet partner in Iraq
By John Lee. UK-based IrisGuard and Iraq's NassWallet have announced a new partnership with the integration and deployment of IrisGuard EyePay iris enabled smartphone, and EyeCloud platform with NassWallet's mobile wallet service. According to a statement from IrisGuard, the integration will enable a regular verified disbursement of humanitarian cash assistance, provided by the United Nations […]
Fitch Rates Iraq's RTB Bank 'CCC+'
By John Lee. Fitch Ratings has assigned Erbil's Region Trade Bank for Investment and Finance Private Shareholding (RTB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's, "limited franchise, unstable business model, volatile and concentrated customer deposit base and weak albeit improving profitability." […]
Tags: banking, Erbil News, featured, Fitch, fitch ratings, Kurdistan News, Region Trade Bank for Investment and Finance Private Shareholding (RTB)
EBRD to Expand Operations in Iraq
By John Lee. The Board of Governors of the European Bank for Reconstruction and Development (EBRD) has approved amendments to the Bank's statutes to enable the limited and incremental expansion of its operations to sub-Saharan Africa and Iraq. According to a statement from the bank, the decision, taken at the EBRD's 2023 Annual Meeting in […]
Iraqis banned from dealing in US dollars
By Sinan Mahmoud for The National. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqis banned from dealing in US dollars The Iraqi Interior Ministry has banned people from dealing in US dollars in the latest move by authorities to control a fluctuating […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, re-denomination, re-valuation, Redenomination
Saudi's ANB to create New Bank in Iraq
By John Lee. Saudi Arabi'a Arab National Bank (ANB) has announced an investment of $38.2 million to create Arab Bank Iraq. ANB will have a 20-percent stake in the new bank. The full statement from ANB is as follows: Arab National Bank announces the approval of the Board of Directors on 14/5/2023 after obtaining the […]
Central Bank of Iraq (CBI) plans Loan Guarantee Company
By John Lee. The Governor of Central Bank of Iraq (CBI), Dr. Ali Mohsen Al-Alaq, has met with a delegation of experts from the International Finance Corporation (IFC), affiliated with the World Bank, led by Mr. Marcel Rashid. The meeting focused on enhancing the relationship between the Central Bank of Iraq and the IFC, and […]
Tags: bank lending, Central Bank of Iraq (CBI), featured, financial market projects, International Finance Corporation (IFC), Iraq banking sector, loan defaults, loan guarantee, mn, national strategy, World Bank
KRG Minister discusses Financial Threats in Iraq and Kurdistan
On Tuesday, Rebar Ahmad, the Kurdistan Regional Government's Minister of Interior, welcomed the KRG's Financial Action Taskforce for money laundering and terrorist financing. The taskforce includes representatives from 15 other organisations in the region and operates in accordance with international standards. Minister Ahmad praised the taskforce's efforts and emphasised the government's transparent policies for combating […]
Tags: anti money laundering (AML), featured, Financial Action Task Force (FATF), KRG, Kurdistan News, mn, money laundering, terror financing
Western Union seeks to grow its presence in Iraq
By John Lee. The Governor of Central Bank of Iraq (CBI), Dr. Ali Mohsen Al-Alaq, has met with Jean Claude Farah, Western Union's President for the Middle East and Asia Pacific. According to a statement from Mr Farah on Linked In, they talked about how Western Union can further grow its presence across the country […]