Dinars to Dollars: Bank praised for Efficient Dollar Distribution
By John Lee. Customers have reportedly expressed widespread satisfaction with the smooth and organized process of dollar distribution at branches of the state-owned Al-Rafidain Bank. The bank says it has been distributing $2,000 per pilgrim at the official rate of 1,320 IQD per dollar, as set by the Central Bank of Iraq (CBI). In a […]
Iraqi Entrepreneurs Participate in SelectUSA Investment Summit
By John Lee. A delegation of 46 Iraqi entrepreneurs and business leaders are participating in the SelectUSA Investment Summit, taking place in the US from May 11th to 14th. The event, which brings together investors, companies, and industry experts, provides a platform to explore investment opportunities in the United States. The Iraqi delegation aims to […]
Al-Uroush becomes Exclusive Distributor of Mazda Cars in Iraq
By John Lee. Al-Uroush Automotive has signed an exclusive distribution agreement with Japan's Mazda Motor Corporation. The signing ceremony, held in Hiroshima, Japan, was attended by Dr. Sabah Abdul Latif Salem, Chief Executive Officer of Al-Uroush, and Mr. Manabu Osuga, Global Sales and Marketing Director at Mazda. Under this strategic partnership, Al-Uroush will be the […]
Iraq Secures German Loan to Enhance Power Infrastructure
By John Lee. Iraq's Council of Ministers has authorized the Ministry of Finance to sign a loan agreement backed by German and other international export credit agencies. The funding will support the installation of three 400 kV and five 132 kV substations, as part of Phase II of the energy cooperation framework with Siemens Energy. […]
Iraq Signs Transit Agreement for Int'l Telecommunications
By John Lee. The Ministry of Communications of Iraq, under the supervision of Minister Dr. Hayam Al-Yasiri, has signed a partnership agreement with DIL Technology to establish Iraq as a unified transit corridor for international communications, running from from Al-Faw to Ibrahim Al-Khalil. The deal, the first of its kind, was signed between the General […]
Iraq Restarts 503 Projects, valued at over $12bn
By John Lee. The Chairman of Iraq's National Investment Commission (NIC), Dr. Haider Mohammed Makiyya, announced the restart of 503 investment projects across the country, as part of a national plan to stimulate the economy. These projects, valued at over $12 billion, are part of 855 projects that have been stalled for the past two […]
IBBC appoints Mohammed Al Saadi of Sama Hammurabi Law as Iraq Members' Rep
From the Iraq Britain Business Council (IBBC): IBBC appoints Mr Mohammed Al Saadi of Sama Hammurabi Law as Iraq members' representative. The appointment of Mr Al Saadi as IBBC's Iraqi representative is an important role for IBBC. As the link between members and management and as the main contact in Iraq he will speak to […]
Iraq to Present Strategic Communications Projects
By John Lee. The Ministry of Communications and the Iraqi Economic Council discussed preparations for the Iraq Investment Forum, scheduled for early June in Baghdad. Minister Hiyam Al-Yasiri highlighted strategic projects for investment, including submarine and transit [fiber optic] cable systems and data centres, aimed at enhancing Iraq's digital infrastructure and regional connectivity. Ibrahim Al-Baghdadi […]
Hoarded Wealth, Frozen Economy: Iraq's Hidden Cash Crisis Deepens
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Hoarded Wealth, Frozen Economy: Iraq's Hidden Cash Crisis Deepens For many Iraqis, banks are not seen as safe havens but as unreliable or even risky institutions. And for countless others, personal experiences of fraud […]
Iraqi President and CBI Governor discuss Economic Reforms
By John Lee. President Abdul Latif Jamal Rashid and Governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, met at Baghdad Palace to discuss economic reforms aimed at strengthening Iraq's financial sector and fostering sustainable growth. They emphasized the importance of modernizing the banking system, stabilizing the market, and creating a robust financial framework […]
Al Rida Investment Group joins IBBC
By John Lee. Al Rida Investment Group has joined the Iraq Britain Business Council (IBBC). Established in 1997, Al Rida has evolved from a construction company into a diversified Iraqi holding firm at the forefront of national development, according to a press release from the IBBC. With investments in real estate, infrastructure, industrial manufacturing, and […]
Understanding the Impact of the Decline of Federalism in Iraq
By Dr. Muhammad Saleh, for the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Pushing Baghdad towards Centralization: Understanding the Impact of the Decline of Federalism in Iraq This report focuses on the general trends in the exercise, […]