Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
Rebuilding & Reconstruction - Iraq - Delivering the Vision Register Now IBBC returns to Dubai on 25 November with a full agenda of expert speakers to discuss the most important issues facing Iraq's economy. Baroness Nicholson of Winterbourne, President of IBBC and The Prime Minister's Trade Envoy to Iraq, Azerbaijan, Turkmenistan & Kazakhstan will open the conference, alongside […]
The Al-Bayan Center for Planning and Studies has just published a new report by Ali Al-Mawlawi on reform of public financial management in Iraq: Designing a Successful Approach to Public Financial Management Reform in Iraq The path to recovery and reconstruction in post-conflict Iraq is fraught with pitfalls. The new government will need to tread […]
The Iraq Energy Institute has just published a new report by Robert Tollast, Yesar Al-Maleki and Harry Istepanian on reform of public financial management in Iraq: Iraq’s first draft budget for 2019 shows an overall increase in spending of 23% compared to 2018. Oil revenues still dominate sources of revenue, projected at 89% of government finances. […]
By John Lee. The Central Bank of Iraq (CBI) has announced that the county has foreign reserves exceding 60 billion dollars. In a statement on Wednesday, the bank said the reserves are "a result of the fiscal and monetary policies adopted by the Central Bank over the past years to stabilize the general financial situation, […]
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions today on Afaq Dubai, an Iraq-based money services business (MSB) that has been moving money for the Islamic State of Iraq and Syria (ISIS). Today’s designation follows action taken by the Department of Defense—announced on October 11—against a key ISIS financial […]
By John Lee. Iran's private banks have reportedly laid the groundwork for setting up a joint bank with their counterparts in Iraq. Yahya Al-e Es'haq [Yahya Ale-Ishaq] (pictured), head of Iran-Iraq Chamber of Commerce, is quoted as saying that the bank would operate under the regulations of central banks of the two countries to facilitate […]
By John Lee. The Central Bank of Iraq (CBI) has released a series of new banknote designs, which will enter circulation next week. According to a report from Rudaw, the notes are intended to modernise the currency and better reflect the nation’s heritage and diversity. It adds that the CBI does not plan to recall […]
The World Bank Group, the Government of Iraq, and the Government of Canada launched today a US$1.95 million grant to support Iraq’s efforts to strengthen systems and deliver programs to empower women economically and politically. The “Gender and Social Protection in Iraq: Towards Economic Empowerment” program consists of two complementary components: the first component will […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. The Iraqi Ministry of Planning announced the launch of the Social Fund for Development on Sept. 23, with initial capital of $300 million, in cooperation with the World Bank. The project […]
By John Lee. The state-owned Trade Bank of Iraq (TBI) is reported to be in talks to buy a Gulf bank with branches in the United Arab Emirates (UAE) and Qatar. Chairman Faisal al-Haimus told Reuters that talks are underway and the purchase is expected to be completed in six to eight months. The name […]
Advertising Feature By Veronica Cotdemiey, CEO of Citizenship Invest. Recently Cyprus has been recognized as the ‘super star’ of the citizenship by investment programs worldwide. The country has the most appealing second citizenship program being the only European country which grants the nationality in only 6 months without ever having to reside there. Cyprus has […]
The Deputy Chairman of the Iraq Britain Business Council (IBBC), Rasmi Al Jabri, and Managing Director, Christophe Michels, hosted a dinner for members and guests at the Babylon Warwick Hotel in Baghdad on 29th August. Many representatives from member companies were in attendance, including the Chairman of Khudairi Group and the International Islamic Bank, the […]
