Now moved to Investment
As of June 17, year-to-date average daily turnover on the Iraq Stock Exchange (ISX) has remained subdued at just ID 2.2 billion (US$ 1.9 million). Surprisingly, however, large block trades on just 16 days (8 days in May, 4 in March, and 4 in January) accounted for 48% of YTD total trading. An easy way […]
Iraqi GDP growth remains at the mercy of the oil markets, with the economy growing 10.3% in 2008, slowing to 4.3% last year in the wake of the crash, and now expected to rebound to 7% this year as prices have recovered (according to the central bank’s latest forecast). This state of affairs has led […]
Last month, on the occasion of Rafidain Bank’s 69th anniversary celebration, the chairman reported that the bank was looking forward to implementing its new IT system “as soon as possible.” The system, which includes the Mysis products “Bankmaster” and “Branchpower,” is supposed to increase efficiency and reduce operational risk by bringing together information throughout the […]
On March 10, the Central Bank of Iraq (CBI) announced that the privately-owned Iraqi banks will be required to increase capital to ID 250 bn (USD 213 mn) over the next three years. Each bank will have to reach an initial capital target of ID 100 bn by the end of the first year and […]
By Mark DeWeaver Iraq faces a big downside risk from the European sovereign debt crisis—perhaps an even bigger risk than that of renewed sectarian violence. While Iraq’s limited financial links to the outside world make it immune to contagion through the banking sector, sustained debt deflation in Europe would result in a big drop in […]
The sovereign debt crisis in Europe could be bad news for the Iraqi economy if it leads to a sustained bear market in oil. But a more likely outcome is that the crisis will cause central banks to continue their ultra-loose monetary policy, thereby benefiting Iraq by keeping oil prices high. Our new expert Blogger, […]
