Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. A member of Iraq's Parliamentary Finance Committee has reportedly confirmed the government's intention to devalue the Iraqi dinar. MP Jamal Kocher told Shafaq News Agency: "I think that there is a government tendency to create an atmosphere for raising the dollar exchange rate more than it was in previous budgets ... The […]
By John Lee. At a webinar hosted by the Iraq Britain Business Council (IBBC) yesterday, a team of experts presented and discussed their insights on the Iraqi government's recent White Paper, and on the challenges and opportunities facing the country. On the subject of the Iraqi currency, Frank Gunter, Professor of Economics at Lehigh University, […]
IBBC's 5th Annual Iraq Conference in Dubai - Opportunity in Adversity The Iraq Britain Business Council (IBBC) was much praised at its conference on Thursday for pioneering in COVID-19 times by bringing together senior officials from Iraq, the UAE and the UK, prominent international and Iraqi businessmen, bankers and professional advisers as speakers and over […]
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. International financial alliance forms to help Iraq Several countries are forming an economic alliance to help Iraq in its financial crisis. Click here to read the full story.
By John Lee. The United Nations Compensation Commission (UNCC), which was established to pay compensation for losses and damage as a direct result of Iraq's unlawful invasion of Kuwait in 1990, has made available $230 million to the Government of Kuwait towards the Commission's remaining claim with an outstanding award balance. With this payment, the […]
Why you should come to the IBBC Conference in Dubai, entitled 'Opportunity in Adversity' On 19th November the Iraq Britain Business Council (IBBC) is holding its Autumn conference in person at the Address hotel Dubai Marina. Some would say it's a brave decision, considering COVID, but others are keen to take up the challenge and […]
The Iraqi government's proposal to shrink public-sector payrolls and pension costs as part of efforts to reduce fiscal imbalances and ease financing strains could slow the depletion of foreign-exchange reserves, but will be tough to implement and risks aggravating social unrest, says Fitch Ratings. More here. (Source: Fitch)
By John Lee. iGrafx, a provider of business process management solutions, has announced that it has implemented Iraq's first Enterprise Business Process Management (EBPM) solution with the National Bank of Iraq (NBI). The National Bank of Iraq was founded in 1995 as a publicly traded private company providing comprehensive banking services for individuals and companies […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Significant challenges face Kadhimi's economic reform project Iran's central bank governor, Abdolnaser Hemmati (pictured), recently paid a surprise visit to Baghdad, three days after the United States slapped sanctions […]
By Farhad Alaaldin, for Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Kurdistan Region rice farmers harvest bumper crop Finance Minister Ali Allawi said in a press conference following the adoption of the White Paper for Economic Reform by the Council of Ministers […]
By John Lee. An Iraqi government white paper has warned of a possible collapse in the value of the Iraqi dinar. According to Farhad Alaaldin, writing for Rudaw, the recently-approved white paper refers on page 37 to the danger of using the Central Bank of Iraq (CBI) as a source of financing, saying that the […]
Breaking Out of Fragility: A Country Economic Memorandum for Diversification and Growth in Iraq Iraq is at a crossroads. Almost two decades after the 2003 war, the country remains caught in a fragility trap, facing increasing political instability, growing social unrest, and a deepening state-citizen divide. Amid a multitude of crises (including an oil price […]
