Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Iraq Business News is delighted to bring you a major new guide to business in Iraq. Published by Allurentis, in association with Iraq’s National Investment Commission (NIC), Iraq 2020 - Discovering Business contains a wealth of case studies, commentary and data; it’s 68 pages of essential reading for everyone with an interest in the redevelopment […]
The Iraqi Economists Network (IEN) has just published a new report from our Expert Blogger Dr Amer K. Hirmis: Mudher M. Saleh’s testimony re: the appreciation of Iraqi Dinar in 2006-8, raises serious questions? The purpose of this note is to shed light, and comment, on two views expressed recently in relation to the appreciation […]
By John Lee. Bahrain-listed United Gulf Holding (UGH) has received approval from the Central Bank of Iraq (CBI) to buy a 51.8 percent stake in Bank of Baghdad. According to The National, the company will acquire the stake from Kuwait-based Burgan Bank. The stock-market announcement can be found here. (Sources: UGH, The National)
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. This article was originally published by the LSE Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Demands for the expulsion of US troops following the killing of Iranian general Qassem […]
IBBC hold Council Meeting, Sector roundtables, Reception & Dinner for Members on 28 and 29 January The Iraq Britain Business Council (IBBC) held its Council Meeting, Dinner & Reception for IBBC Members and distinguished guests on 28 January. The Council Meeting, hosted by Baroness Nicholson of Winterbourne, President of IBBC and the Prime Minister’s Trade […]
By John Lee. Iraq is well positioned to service its debt obligations, according to an article in Australia's Investor Daily. Responding to the question "what’s your view on bonds issued by Iraq’s government?", Mark Baker writes: "Iraq is a net external creditor, meaning its external assets are greater than its external liabilities. That means the […]
Iraqi government’s finance schemes to support SMEs and business innovation To support small and medium private-sector projects, the Iraqi government, through the Central Bank of Iraq (CBI) and with the participation of a number of private and state-owned banks, has made available several types of loans. The loans are available to all Iraqis. According to […]
By John Lee. The Trump administration has reportedly threatened to block Iraq’s access to its funds in the Federal Reserve Bank of New York if Iraq expels US troops from the country. The Wall Street Journal quoted unnamed Iraqi officials as saying that the US State Department warning came after the Iraqi parliament voted in […]
By John Lee. Simon Hinrichsen, a PhD student at the London School of Economics (LSE), has published an analysis of Iraq's sovereign debt over the years. The full 51-page report can be downloaded here. (Source: LSE)
By John Lee. The Ambassador of Iraq in London, Mr. Mohammad Jaafar Al-Sadr, has met Mr. Enzo Quattrociocche, the Secretary-General of the European Bank for Reconstruction and Development (EBRD). During the meeting, they discussed the possibility of Iraq joining the bank. The Ambassador stressed the importance of moving forward with the implementation of Iraq’s economic […]
Iraq has paid back more than $20 billion in foreign debt, the head of the parliamentary finance committee Haitham Al-Jubouri has said. “Iraq’s foreign debt amounted to more than $50 billion. More than $20 billion was paid back over the last period,” Al-Jubouri told the Iraqi news agency. According to the official, Iraq still owes […]
By John Lee. Iraq's Commission of Integrity has revealed that it has concluded cases resulting in fines of more than 245 billion dinars ($206 million) on private banks, due to violations relating to customs licences and foreign currency auction instructions for 2012. The CoI mentioned that one of these corruption cases related to a private […]
