New CBI Governor Meets US Embassy Chargé d'Affaires
By John Lee. The newly-appointed Governor of the Central Bank of Iraq (CBI), Nizar Nasser Hussein, received US Embassy Chargé d'Affaires Joshua Harris to discuss financial and economic cooperation. The meeting covered strengthening strategic cooperation, supporting monetary and economic stability, and advancing banking sector reforms. Harris said the United States supports efforts to strengthen stability […]
Iraq Plans National Geospatial Data Framework
By John Lee. Iraq's Ministry of Planning held a technical meeting to advance work on the country's geospatial information management systems and national data platforms. The meeting was chaired by the Under-Secretary for Technical Affairs, Dr Maher Hammad Jouhan. Jouhan said that developing the geospatial information system is a key pillar in supporting planning, sustainable […]
Vodafone in Talks with Iraq over National Mobile Licence
By John Lee. Iraq's Ministry of Communications has held talks with representatives of UK's Vodafone, along with a delegation from the British Embassy, regarding a national mobile telephone licence. According to a Ministry of Communications statement, Minister Mustafa Jabbar Sanad confirmed that the Ministry would press ahead with efforts to improve mobile telephone services in […]
Iraqi Customs Completes Automation of 25 Border Centres
By John Lee. Iraq's General Customs Authority has reportedly completed the automation of 25 customs centres and is preparing to launch a single-window electronic system linking it with 15 government ministries and departments. Its Director-General, Thamer Qasim Daoud Al-Shiryan, told the state-run Iraqi News Agency (INA) that the Minister of Finance had formally instructed the […]
Iran's Hormuz Insurance Scheme 'Amounts to Transit Fee'
By John Crowley, for Arabian Gulf Business Insight (AGBI). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iran's Hormuz Insurance Scheme 'Amounts to Transit Fee' Iran's plans to require vessels crossing the Strait of Hormuz to obtain insurance amount to a transit fee, […]
Iraq-Uzbekistan Joint Business Council to be Established
By John Lee. Iraq and Uzbekistan have signed a memorandum of understanding (MoU) to establish a joint economic and trade committee, marking the conclusion of a visit by Iraq's Minister of Trade, Dr Mustafa Nizar Al-Ani, to Tashkent. According to the Ministry of Trade, the MoU was signed by Al-Ani on the Iraqi side and […]
Iraq Freezes New Govt Investment Projects
By John Lee. Iraq's Council of Ministers has approved a recommendation from the Ministerial Council for the Economy to suspend new investment project contracts across all ministries, non-ministry-affiliated bodies, and governorates, as part of a public spending rationalisation drive. The freeze also covers spare parts orders and components added to existing projects without a direct […]
New Governor Takes Charge at Iraq's Central Bank
By John Lee. A formal handover ceremony has taken place at the Central Bank of Iraq (CBI), with Nizar Nasser Hussein (pictured, right) assuming the role of governor from his predecessor, Ali Mohsen Al-Alaq. Prime Minister Ali al-Zaidi presided over the ceremony on Sunday. Al-Zaidi stressed the importance of continuing banking reform programmes, achieving financial […]
Iraq Spuds "First Northern Exploration Well since 1978"
By John Lee. According to Iraq's Ministry of Oil, drilling has begun on a new exploration well in the Amerli district of Salahadin province - the first such well to be drilled in the northern governorates since 1978. The work is being carried out under a tripartite contract involving North Oil Company (NOC), Iraqi Drilling […]
Restricted Banks Near Reinstatement to Dollar Transfer System
By John Lee. A number of banks previously restricted from conducting dollar transactions have now completed the requirements of the Central Bank of Iraq (CBI)'s reform plan and met the relevant supervisory and technical standards, including strengthening their anti-money laundering and counter-terrorism financing frameworks. The CBI said the reinstatement of these banks to foreign currency […]
New Shipping Service Between Umm Qasr Port and Khalifa Port
By John Lee. A weekly shipping service has been launched linking Abu Dhabi's Khalifa Port with Umm Qasr Port in Iraq, aimed at enhancing trade flows across the region. According to Abu Dhabi Ports (AD Ports Group), the service addresses growing container and Ro-Ro cargo volumes and is designed to strengthen connectivity between Lebanon, Syria, […]
Iraq Now a Key Land Bridge for TIR Transit
By John Lee. The TIR international road transit system became fully operational in Iraq on 1 April 2025, with transport companies opening seven routes via the country and completing more than 1,000 operations within the first eight months, according to the International Road Transport Union (IRU). Iraq subsequently made TIR mandatory for all goods transiting […]