Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Ain’t Nothing Going On But The Rent: How ISIS Rigs Mosul’s Money Markets In Their Favour In Mosul, there are no official banks anymore.So the Islamic State makes the rules: […]
Genel Energy has announcing a reverse tender offer to holders of Genel Energy Finance plc's USD 730 million GENEL01 PRO senior unsecured callable bonds (ISIN NO0010710882). The Company intends to offer one repurchase price at which all relevant Bonds are to be repurchased. The Repurchase Price will be determined through a reverse book-building ("Dutch auction"). […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 17 remittance companies took part in its currency auction on Thursday. A total of $134,829,807 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Boutique investment bank Exotix Partners has issued a "buy" alert on Iraqi benchmark U.S.-dollar 2028 bonds on Tuesday, following a "sell" notice in September. The company says: "It seems that an extra level of country risk is being embedded in Iraq specifically, perhaps because the market views its debt as unsustainable. Having once […]
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 Wednesday. A total of $92,104,922 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Prime Minister Dr. Haider Al-Abadi has approved the procedures for issuing loans from the housing fund, allocated from the central bank's budget of five trillion Iraqi dinars ($4.2 billion). The loans will be distributed to the provinces as per the percentage of population (80 percent) and the degree of poverty (20 percent) […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 27 banks and 13 remittance companies took part in its currency auction on Monday. A total of $96,160,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The CEO of Standard Chartered in Iraq has said that the bank is in talks with Iraq’s Finance Ministry to take part in a $2-billion bond sale this year. Andreas Meletiou also told Bloomberg that the London-based bank is also holding talks with other government institutions about their financing needs. A planned […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 20 remittance companies took part in its currency auction on Wednesday. A total of $91,403,625 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Fitch Ratings has revised its outlook on Iraq's Long-term foreign currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at 'B-'. The Country Ceiling has been affirmed at 'B-' and the Short-Term foreign currency IDR at 'B'. KEY RATING DRIVERS The revision of the Outlook reflects the following key rating drivers: […]
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 Monday. A total of $93,871,486 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 Thursday. A total of $86,600,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
