Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. The Central Bank of Iraq (CBI) has reported that 31 banks and 15 remittance companies took part in its currency auction on Thursday. A total of $131,105,098 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Following the dismissal of Iraqi Finance Minister Hoshyar Zebari, the International Monetary Fund (IMF) has said it remains committed to working with Iraq on implementing a $5.34 billion loan. Bloomberg quotes IMF mission chief Christian Josz as saying that the Stand-by Arrangement (SBA) was approved in July, “and we are committed to […]
By John Lee. Iraq’s finance minister, Hoshyar Zebari (pictured), has been voted out of office by the country’s parliament on Wednesday. Lawmakers voted 158 to 77 against Zebari, after a parliamentary inquiry last month into charges of corruption and mismanagement of public funds. Zebari, a senior Kurdish official who previously served as foreign minister, denies all […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 33 banks and 15 remittance companies took part in its currency auction on Tuesday. A total of $132,094,314 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has reported that 32 banks and 15 remittance companies took part in its currency auction on Monday. A total of $134,033,525 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Fitch Ratings has affirmed Iraq's Long-Term Issuer Default Rating (IDR) at 'B-' with a Negative Outlook. The Country Ceiling is affirmed at 'B-' and the Short-Term IDR at 'B'. KEY RATING DRIVERS Political risk and insecurity in Iraq are among the highest faced by any sovereign rated by Fitch. Progress has been made in pushing […]
By John Lee. Finance Minister Hoshyar Zebari has shown The Financial Times documents that appear to be part of a probe by Iraq's parliamentary finance committee, purporting to show how an individual close to the previous government used currency auctions to siphon $6.4 billion from the state. A spokesperson for former Prime Minister Nouri al-Maliki […]
The Iraqi authorities and the staff of the International Monetary Fund (IMF) held discussions in Amman from August 28–September 10, 2016 on the first review of Iraq’s 36-month $5.3-billion Stand-By Arrangement (SBA) approved by the IMF Executive Board on July 7, 2016. Mr. Christian Josz, Mission Chief for Iraq, issued the following statement: “The Iraqi […]
By John Lee. The Financial Times reports that Iraqi Finance Minister Hoshyar Zebari (pictured) is fighting back against accusations of financial mismanagement by digging out documents that he claims reveal the true extent of corruption in the public sector. “I’ve started my campaign — the counterattack", he said. "I didn’t want to galvanise it. But […]
By Robert Tollast Recently, a friend at Fikra Space, the pioneering Iraqi hackerspace group, emailed me some news that could have far reaching effects in Iraq. On the face of it, it probably seems like a fairly mundane development. Ideal Payments, the electronic payment providers, have partnered with Belgium based Monniz and Iraq's Taif Money […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 29 banks and 15 remittance companies took part in its currency auction on Wednesday. A total of $130,433,092 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has reported that 33 banks and 15 remittance companies took part in its currency auction on Monday. A total of $135,228,418 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
