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 […]
Iraq Cuts Internet Transit Fees by 40%
By John Lee. Iraq has cut internet transit fees by 40 percent as part of a strategy to position the country as a key international corridor for data traffic between East and West, according to the Ministry of Communications. The reduction was formally endorsed by the ministry's advisory board and the board of directors of […]
FATF Places Iraq Under Increased Monitoring
By John Lee. Iraq has been added to the Financial Action Task Force (FATF) list of jurisdictions under increased monitoring -- commonly known as the grey list -- following the organisation's June 2026 plenary session. Iraq made a high-level political commitment to work with the FATF and MENAFATF to strengthen the effectiveness of its anti-money […]
Iraq "Considers Mini-Budget"
By Nadim Kawach, 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. Iraq considers mini-budget to keep country running Iraq's parliament is pushing for a mini-budget for 2026 after a cabinet change and the halt of most oil […]
Mechanised Rice Transplanting to Address Water Scarcity in Najaf
By John Lee. A consultation held in Najaf on 15 June has agreed to expand mechanised rice transplanting in the governorate as a climate-adaptive measure to improve water-use efficiency and support sustainable rice production. The meeting was convened by the Food and Agriculture Organization of the United Nations (FAO) and government partners under the Green […]
WFP Iraq Country Brief, June 2026
WFP Iraq Country Brief, June 2026 (Reporting Period: April - May 2026) In Numbers 14,762 people assisted in April 2026 (58% female) 13,839 people assisted in May 2026 (59% female) USD 988,900cash transferred between April 2026 - May2026 USD 5 M required in the next six months (June - November 2026) Key Highlights Iraq continues […]
New Instructions regarding Foreign Workers in Iraq
By John Lee. Iraq's Ministry of Justice has published "Instructions of Recruiting, Employing and Permitting the Foreign Workers in Iraq". Click here to download the full report. To browse our comprehensive library of reports on Iraq, click here. (Source: Ministry of Justice)
GKP Shares Rise following Operational Update
By John Lee. Shares in Gulf Keystone Petroleum (LSE: GKP) closed up more than 2 percent on Friday after the company published an operational and corporate update. Full statement from GKP: 2026 AGM Operational & Corporate Update Ahead of today's 2026 Annual General Meeting ("AGM"), Gulf Keystone, a leading independent operator and producer in the Kurdistan […]