Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
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)
Banking Technology reports that Ideal Payments has teamed with Taif Money Transfer to launch Iraq’s “first” mobile payments app – Taif eWallet. The platform aims to create a “holistic payments ecosystem” used by multiple agents in the economy including retail merchants, ecommerce platforms, private companies, and government institutions. Ideal Payments’ local partner, Taif Money Transfer, […]
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 $127,474,300 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 31 banks and 15 remittance companies took part in its currency auction on Wednesday. A total of $133,884,851 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 30 banks and 15 remittance companies took part in its currency auction on Monday. A total of $125,837,738 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 $133,530,024 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
