EQIQ Invests in Iraqi-US Banker's Digital Banking Venture
By John Lee. UAE-based venture capital fund EQIQ has announced a $3-million anchor investment in a new digital banking startup led by Iraqi-American finance veteran Hussain Qaragholi (pictured). The total $15-million funding round will support the launch and early growth of the next-generation, AI-driven platform. The new venture aims to transform Iraq's underdeveloped banking sector […]
Iraqi Bank Lending Increased in Q1 2025
By John Lee. The Central Bank of Iraq (CBI) has announced that bank lending to the private sector grew by 1.1% in Q1 2025, reaching IQD 44.1 trillion [$24.5 billion]. This was up from IQD 43.6 trillion in Q4 2024, and reflects a gradual expansion in credit access for individuals and private projects. (Source: CBI)
Iraq to Strengthen Public-Private Partnerships in Pharmaceutical Industry
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has directed the advancement of public-private partnerships in Iraq's pharmaceutical sector, with a particular focus on expanding local production of cancer treatments. At a high-level meeting on Sunday with the Minister of Health, advisors, private-sector pharmaceutical producers, and the Pharmaceutical Manufacturers Association, the Prime Minister reviewed progress […]
Iraqi Speaker meets Turkish FM; Confirms Water Deal
By John Lee. The Iraqi Speaker of Parliament Dr Mahmoud al-Mashhadani met with Turkish Foreign Minister Hakan Fidan in Ankara on Wednesday to discuss strengthening bilateral relations and joint initiatives. Dr al-Mashhadani called for deeper cooperation between the two nations, proposing the activation of parliamentary friendship committees and requesting Turkey to ease residency procedures for […]
CBI announces Fall in Iraqi Inflation
By John Lee. The Central Bank of Iraq (CBI) reports that inflation fell in the first quarter of the year. The latest data shows an inflation rate of 2.2 percent in Q1 2025, down from 2.8 percent in Q4 2024. This points to a reduction in the general price level and an improvement in purchasing […]
Iraq Cabinet to consider National Poverty Reduction Strategy (2025-2029)
By John Lee. The Permanent Technical Committee for Poverty Reduction Policies, chaired by Deputy Prime Minister and Minister of Planning Dr Mohammed Ali Tamim, has approved Iraq's third national poverty reduction strategy, covering the years 2025 to 2029. Dr Tamim described progress made during the previous phase as positive, with poverty rates falling from 30% […]
PM Launches 10 New Neonatal Centres
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has inaugurated ten specialised neonatal intensive care units (NICUs) via video link as part of a broader healthcare initiative aimed at reducing infant mortality across Iraq. The units are part of a 22-centre national project, offering a total capacity of 360 beds. The centres are located in […]
Iraq Reduces Money Supply
By John Lee. Iraqi currency in circulation fell by 0.6 percent in the first quarter of 2025, according to a statement from the Central Bank of Iraq (CBI). It said money supply fell from IQD 100.5 trillion [$76.7 billion] to IQD 99.9 trillion. The reduction is expected to help contain inflation and maintain price stability. […]
Iraq's Gold Reserves Surge in Value
By John Lee. The Central Bank of Iraq's gold reserves rose sharply in the first quarter of 2025. A statement from the CBI said gold reserves reached IQD 21.2 trillion [$16.2 billion], an increase of 19 percent from the IQD 17.8 trillion held in the previous quarter. It added that gold remains a vital component […]
Iraqi PM Confirms Progress on New Cities
By John Lee. Iraqi Prime Minister Mohammed Shiaa Al-Sudani has confirmed that six new cities have been 'awarded for execution', with three more pending, as part of a broader plan to develop 60 new urban centres across the country. Speaking at a meeting of the New Cities Authority on Monday, Al-Sudani emphasised the government's commitment […]
Iraq Opens Two Major Overpasses in Baghdad
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has opened two overpasses in the Tobji area of Baghdad's Karkh district, as part of the first phase of infrastructure works aimed at easing traffic congestion in the capital. The project, implemented under the Ministry of Construction and Housing's traffic decongestion plan, is one of 16 such […]
Strengthening the US-Iraq Relationship through Energy and Security
By Noam Raydan and Devorah Margolin, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Redefining and Strengthening the U.S.-Iraq Relationship Through Energy and Security Iraq is more stable than it has been in decades but still […]