Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
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 […]
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Protests in Iraq amid local currency devaluation, Central Bank changes Restrictions from the US Federal Reserve, corruption, and Iraq's lack of an electronic banking system have all led to the dinar's […]
By Jack Detsch, for Foreign Policy. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. 'They Have to Balance': New Iraqi Leader Tilts the Scales Toward U.S. Mohammed al-Sudani's public support of U.S. troops reflects a behind-the-scenes shift - and the continued threat from […]
By Ali Mamouri for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Explainer: What is behind Iraq's Central Bank shuffle and what is next? The economic crisis in Iraq as a result of the ongoing rise in the value of the US dollar […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Inside story: Dollar crisis shifts winds in Iraq as US confronts Iran Iraq is reemerging as a battleground for Iran and the US as deadlock remains over the 2015 Iran nuclear deal, and […]
By John Lee. The Trade Bank of Iraq (TBI) has confirmed the appointment of Bilal Al-Hamdani as Chairman, in addition to his duties as Director General of the Industrial Bank. Al-Hamdani met with senior staff and said that an "expanded strategic action plan" will be developed for the financial sector, based on the directives of […]
By John Lee. The Kurdistan Regional Government (KRG) has said that the opening of the state-owned Nishtiman Bank in the Region can help provide mortgages to citizens and make a connection between Iraqi and international banks, all of which are reasons for economic development and strengthening the banking system in our region. The establishment procedures […]
By John Lee. According to a report from the Wall Street Journal, Iraqis are blaming the slump in the value of the Iraqi dinar on a recent policy change by the U.S. Treasury Department and the Federal Reserve Bank of New York. It says the NY Fed began enforcing tighter controls on dollar transactions by […]
By John Lee. Prime Minister Muhammad Shia al-Sudani has dismissed the President and Chairman of Trade Bank of Iraq (TBI). The state-run Iraqi News Agency (INA) reported that al-Sudani "referred" Dr Salem Chalabi (pictured) "to retirement". Widely respected internationally, Dr Chalabi had been appointed by the previous Prime Minister, Mustafa Al-Kadhimi, in September 2020. According […]
