Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By Ahmed Tabaqchali, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq needs to address the economy's structural imbalances to halt the dinar's volatility A planned implementation of global procedural requirements for cross-border payments by the Central Bank of […]
By John Lee. Iraq maintains its credit rating at -B/B with a stable outlook, and an emphasis on financial and economic stability, according to a report from Standard & Poor's. The Ministry of Finance says the new classification was a reflection of the policy of continuous economic and financial reforms pursued by the Ministry, in […]
The International Development Bank (IDB) has joined the Iraq Britain Business Council (IBBC) and adds momentum to the Iraqi financial services group at the Council. The International Development Bank now has the largest banking network in Iraq, with over 250 ATM machines and 5,000 selling points, as well as a massive IT infrastructure to provide […]
By Winthrop Rodgers, for Rest of World. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Why cash is still king in Iraq After decades of war, displacement, and sanctions, Iraq remains cut off from the global financial system. Click here to read the […]
By John Lee. The Central Bank of Iraq (CBI) has reportedly confirmed an agreement with J.P. Morgan Development Finance Institution to facilitate payments to China in order to finance private sector imports. According to the state-owned Iraqi News Agency (INA), this agreement enables Iraqi banking systems to make payments directly to the People's Republic of […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Deep Dive: Will Iraq's central bank bring an end to the dinar crisis? The Iraqi dinar has since mid-December plummeted on the parallel market, trading for as low as 1,750 against the US […]
By John Lee. The Iraqi authorities have approved a revaluation of the Iraqi dinar. In a statement said on Tuesday, the Central Bank of Iraq (CBI) said that, starting on Wednesday, the exchange rates will be as follows: 1,300 dinars per dollar: the price of purchasing a dollar from the Ministry of Finance; 1,310 dinars […]
By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Trilateral Biden-Abdullah-Sudani call reiterated support for Iraq The Iraqi prime minister also discussed Iraq's economic situation with the president as the dinar continues to slide against the dollar. Jordan's […]
By John Lee. Iraq's National Investment Commission (NIC) has issued a directive to all companies building residential complexes in Iraq to follow the official dollar exchange rate set by the Central Bank of Iraq (CBI), specifically 1,470 dinars per dollar. Mrs. Hanan Jassim, the official spokesperson, states that this directive is in accordance with Cabinet […]
By John Lee. The Iraqi dinar has reportedly fallen to new lows on Thursday, as people take to the streets to protest at the fall in the value of the Iraqi currency, which is leading to higher costs for imported goods. Various reports say that one US dollar could buy as many as 1,750 dinars […]
By John Lee. ZainCash Iraq has announced a partnership with Western Union to enable international money transfers through the ZainCash mobile application. According to a press release, this allows customers in Iraq to easily and reliably send and receive money to more than 200 countries and territories. The app can be used by individuals, small […]
By John Lee. The Central Bank of Iraq (CBI) has signed an agreement with the International Finance Corporation (IFC) to launch the first ESG (Environmental, Social, and Governance) Performance Card project report in the Iraqi banking sector. This was prepared in cooperation and coordination with experts from the International Finance Corporation (IFC). At the launch […]
