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 29 banks and 18 remittance companies took part in its currency auction on Thursday. A total of $79,005,544 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 26 banks and 16 remittance companies took part in its currency auction on Wednesday. A total of $81,956,644 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Reuters reports that the International Monetary Fund could approve a standby arrangement (SBA) with Iraq as early as June, unlocking $15 billion in international assistance over the next three years. The head of the IMF’s mission in Iraq, Christian Josz, said on Tuesday that the package of assistance, nearly one third of it […]
World Bank Group President Jim Yong Kim (pictured) told a special session of the Iraqi parliament that the path to stability and shared growth in Iraq lay in empowering local governments, opening up and diversifying the economy, and improving the management of public finances by reforming the public sector and increasing accountability. The speech came […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 18 remittance companies took part in its currency auction on Tuesday. A total of $80,514,348 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 25 banks and 19 remittance companies took part in its currency auction on Monday. A total of $84,669,310 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Kurdistan's Qaiwan Group has secured two loans totalling $105 million to refinance part of the firm's investment in the 442-MW Bazian Power Plant (pictured). According to a report from Trade Arabia, Deutsche Bank has arranged an eight-year $75-million buyer credit, along with the Dubai branch of Lebanon's Bankmed. The finance is being […]
By John Lee. The Chairman and former CEO of Genel Energy is reportedly planning to set up an investment fund to buy distressed oil and gas assets. The Sunday Times reports that Tony Hayward (pictured) has held talks in recent weeks with potential backers including private equity firms and sovereign wealth funds in the Middle East. […]
The foundation for the Islamic Reporting Initiative (IRI) has appointed two new members to its Board of Directors; senior academic Dr Abdel-Aziz Sharabati and the award-winning entrepreneur Ms Amal Daraghmeh-Masri (pictured). Established in December 2015, the foundation has been set up to provide funding for the IRI, which is headquartered in the United Arab Emirates. […]
By John Lee. Genel Energy has decided to repurchase a nominal amount of USD 55.4 million of Bonds in connection with the Buy-Back Offer announced last week. The company will pay 63 percent of par value plus accrued unpaid interest. Settlement of the repurchases will occur on 30th March 2016. Shares in the company closed […]
By John Lee. Iran and Iraq have signed a memorandum of understanding (MoU), covering cooperation in the banking sector, in Baghdad on Wednesday. IRNA reports that the MoU was inked at a meeting attended by the visiting Governor of the Central Bank of Iran (CBI), Valiollah Seif (pictured), and his Iraqi counterpart Ali Al Alagh […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 22 banks and 19 remittance companies took part in its currency auction on Sunday. A total of $77,067,600 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
