Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Mosul Bank has selected Irish-based CR2, one of the world's leading software vendors in the digital banking and payments market, to accelerate its digital banking transformation strategy in the Iraqi market. This latest win for CR2 will see Mosul Bank offering a more advanced digital banking service to the Iraqi retail and corporate banking market, […]
By John Lee. The Iraqi Cabinet held its regular meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi. After discussions, the Cabinet instructed the Ministry of Finance to provide sufficient liquidity to provide loans to farmers to import sprinkler irrigation systems. The systems may be pivot or fixed types, and must be bought […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Dinar debacle pits Iraq's finance minister against Sadrists Iraq's finance minister is caught in a worsening confrontation with the Sadrist Movement. The clash erupted after Shiite cleric and politician Muqtada Al-Sadr took to […]
By Layal Shakir, for Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi central bank suggests halting business, financial dealings with Russia The Central Bank of Iraq (CBI) on Wednesday suggested halting business operations and financial dealings with Russia following America's far-reaching sanctions […]
Iraq's Minister of Foreign Affairs, Mr. Fouad Hussein, announced Iraq's exit from Chapter VII of UN Charter after the UN Compensation Commission (UNCC) announced that Iraq had made the final reparation payment to Kuwait. In a speech during a briefing at the UN Security Council on ending the Compensation Commission's mandate over Iraq's reparations to […]
By John Lee. The state-owned Al-Rafidain Bank has announced the following interest rates: and fixed deposits for the citizens' accounts for the year 2022 in an effort to raise the economic and living standard of the citizen. The interest rate for Savings accounts: 4% for one year. Fixed deposit rate: 4.5% for six months; 5% […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will Iraq's exit from EU money laundering blacklist bring investment? The European Union (EU) has removed Iraq from its list of high-risk countries for money laundering and terrorism financing. The delisting will make […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Is 'unfreezing' of Iranian funds in Iraq 'positive signal' from Biden? A prominent Iranian news agency says funds that have been frozen in Iraq due to US sanctions are now available for food […]
By John Lee. Fitch Ratings has assigned Gulf Commercial Bank (GCB) a Long-Term Issuer Default Rating (IDR) of 'CCC+'. GCB is a privately-owned bank, headquartered in Baghdad and regulated by the Central Bank of Iraq (CBI). More here. (Source: Fitch Ratings)
By John Lee. The European Union's Ambassador to Iraq has announced that Iraq has been removed from its list of countries deemed to carry a high risk of money laundering. Following a meeting with Prime Minister Mustafa al-Kadhimi in Baghdad on Sunday, Ville Varjola tweeted: "Bringing the good news today to HE Prime Minister Mustafa […]
Iraqi Judges and Financial Investigators prepare Taskforce Investigations The Federal Supreme Judicial Council of Iraq, the Kurdistan Judicial Council and UNDP Iraq, with support from the U.S. Government, launched a series of workshops for investigative judges, prosecutors, investigators, auditors and financial analysts from all across Iraq in late November 2021. These workshops will aid Iraqi […]
The Board of Governors of China's Asian Infrastructure Investment Bank (AIIB) has approved the application of Iraq to join the Bank. Iraq becomes AIIB's 51st regional member, bringing the Bank's approved membership to 105 in total. As a multilateral development bank with the mission of financing infrastructure for tomorrow, AIIB aims to support its members […]
