Central Bank Eases Rules on Cash Dollar Withdrawals
By John Lee. The Central Bank of Iraq (CBI) has reportedly ruled that banks may disburse customers' dollar-denominated deposits in cash, effective 15 July 2026. According to the state-run Iraqi News Agency (INA), a CBI circular sets out the following provisions: Banks may continue to open foreign-currency accounts for customers, with customers entitled to withdraw […]
Germany Funds Climate-Inclusive Urban Transition Project in Iraq
By John Lee. Iraq's Ministry of Planning has held talks with Germany's Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) on a German government-funded grant project focused on climate-responsive and inclusive urban development, known as CITIES+. The meeting, chaired by Dr. Mohammed Mohsen Al-Sayed, Director General of the Regional and Local Development Directorate, reviewed the technical requirements […]
Webinar: Iraq in the Wake of the Iran War
From the Arab Center Washington DC. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq in the Wake of the Iran War: Governance, Security, and Economic Challenges The Arab Center Washington DC and the Center for Contemporary Arab Studies at Georgetown University organised a […]
Iraq-UK Cooperation on Marine Surveys and Charts
By John Lee. Iraq and the United Kingdom have held talks aimed at finalising a cooperation agreement on hydrographic surveys and nautical chart production. The discussions focused on enhancing technical cooperation in surveying and the production of navigational charts for Iraqi territorial waters and the shipping channels leading to Iraqi ports, as well as supporting […]
Electronic Platform for Grain By-Product Auctions in Iraq
By John Lee. A unified electronic platform for managing bran sales auctions is to be introduced by the General Company for Grain Processing, covering bidders in Baghdad and the governorates. According to Iraq's Ministry of Trade, the announcement came at a meeting held at the company's headquarters, chaired by Acting Director General Dr. Haider Nouri […]
Gulf Keystone Petroleum Raises Shaikan Output
By John Lee. Production at the Shaikan oil field in the Kurdistan Region of Iraq has ramped up to more than 43,000 barrels of oil per day (bopd) following a restart of production and export operations on 24 June 2026. Gulf Keystone Petroleum (GKP) said well activities are under way to bring additional production online […]
CBI Expands Lending for SMEs and Renewable Energy
By John Lee. The Central Bank of Iraq (CBI) has announced enhancements to two of its developmental lending initiatives, raising the financing ceiling for small and medium enterprises (SMEs) and expanding support for renewable energy projects. According to the CBI, the measures are aligned with the National Banking Lending Strategy (2024-2029) and are intended to […]
New Fibre Optic Cable Production at Diyala General Company
By John Lee. A new sixth-generation fibre optic cable production line has been installed at Diyala General Company [Diyala State Company], a subsidiary of the Ministry of Industry and Minerals, with a design capacity of 15,000 kilometres per year. The line was installed under a partnership agreement with Al-Manthiqa Al-Dhakiyya General Trading and Telecommunications Services […]
Oil Ministry Corruption Case: $11m Hidden in Drain
By John Lee. IQD 14 billion ($10.7 million) in cash has been seized during an investigation into Adnan al-Jumaili, the detained deputy minister of oil for refining affairs, and associates implicated in the same case. The funds were found hidden in a rainwater drainage pit. According to Iraq's Supreme Judicial Council (SJC), the seizure resulted […]
Economic Conference Planned for Kurdistan, Turkey and Azerbaijan
By John Lee. A joint economic conference bringing together the Kurdistan Region, Turkey and Azerbaijan is planned for Erbil in mid-September. The event is expected to draw chambers of commerce, economic organisations and senior government representatives, with the aim of expanding investment opportunities and strengthening economic ties between the three countries. According to the Erbil […]
WFP and ICBA Launch Climate Resilience Project in Iraq
By John Lee. The United Nations World Food Programme (WFP), in partnership with the International Center for Biosaline Agriculture (ICBA) and with funding from Global Affairs Canada (GAC), has launched the MURUNA project to strengthen climate resilience and food security in Iraq. According to WFP, around 2.5 million people in Iraq require humanitarian assistance, with […]
Christian Diaspora and Investors Invited Back to Iraq
By John Lee. Prime Minister Ali al-Zaidi has met with the Patriarch of the Chaldean Church in Iraq and the World, Patriarch Mar Louis III Sako [Mar Bulus III Nona], along with a delegation that included the Archbishop of the Chaldean Diocese of Erbil, Bishop Bashar Matti Warda, and a number of Christian clergy. According […]