PM to announce $billions in UK-Iraq Projects
By John Lee. Iraqi Prime Minister Mohammed Shia' Al-Sudani has arrived in London on an official visit, during which he will meet His Majesty King Charles III, Prime Minister Keir Starmer, senior officials in the British government and business leaders. Writing in The Telegraph, Prime Minister Al-Sudani emphasised the opportunities for cooperation between the two […]
Iraq to create New State-Owned Bank
By John Lee. The Iraqi Cabinet has approved significant banking reforms, including the establishment of a new, innovative financial institution named Rafidain First Bank [Rafidain Al-Awal Bank]. The new bank aims to lead regional financial markets and provide advanced digital banking services. Key Details: New Bank Creation: Rafidain First Bank will operate as a joint-stock […]
Iraqi to allow Squatters to Buy Property
By John Lee. The Iraqi Council of Ministers (Cabinet) has approved a framework to legalise ownership of municipal land occupied by informal settlers (squatters) before December 10, 2024. The decision includes specific terms to ensure fair and regulated sales under Law No. 21 of 2013. Key provisions: Land Sales: Municipal authorities in Baghdad and other […]
EY Consults on Restructuring of Iraqi State-Owned Banks
By John Lee. Prime Minister Mohammed S. Al-Sudani has chaired a meeting with representatives from Ernst & Young (EY) to discuss the development of state-owned banks, focusing on the restructuring of Al Rafidain Bank and Al-Rasheed Bank. The restructuring plan includes comprehensive technical and administrative reforms aimed at enhancing banking services for citizens and businesses. […]
Iraq Launches National Cybersecurity Centre
By John Lee. Prime Minister and Commander-in-Chief of the Armed Forces Mohammed S. Al-Sudani inaugurated Iraq's Cybersecurity Centre, a key initiative under the Ministry of Interior. During a tour of the facility, Al-Sudani reviewed its operations and received briefings from staff on its national significance. He reaffirmed the government's commitment to strengthening cybersecurity measures, emphasising […]
Iraq and BP discuss Kirkuk Oilfield Development, Gas Utilisation
By John Lee. In a statement from the Ministry, Iraq's Minister of Oil, Hayan Abdul Ghani, noted ongoing negotiations with BP to finalise technical, economic, and contractual aspects of the Kirkuk oilfield development. Senior officials from the Ministry, the North Oil Company (NOC), and BP, including the head of BP Iraq, participated in the talks. […]
Iraq Lays Foundation for Ratawi Gas Project
By John Lee. On Friday, TotalEnergies (45%, operator) and its partners Basra Oil Company (BOC) (30%) and QatarEnergy (25%) launched today the construction works of ArtawiGas25, a first processing facility for the associated gas from the Ratawi [Artawi] field, in the Basra region. This facility, which is part of the Gas Growth Integrated Project (GGIP), […]
Subba Oilfield - Iraq Prioritises Gas Self-Sufficiency
By John Lee. Minister of Oil, Hayan Abdul Ghani, reaffirmed Iraq's commitment to achieving gas self-sufficiency through enhanced gas capture from oil production, development of gas fields, and exploration zones. Speaking at the handover ceremony for the Subba [Sabah, Tuba] Oilfield project, he highlighted its role in boosting oil production and meeting energy demands. The […]
UNDP to Rehabilitate Water Treatment Unit in Tikrit
By John Lee. Nasrin Alyaman General Trading and Transportations has won a contract with the United Nations Development Programme (UNDP) for the "Rehabilitation of Qadisiya Compact Water Treatment Unit in Tikrit." Contract value is stated as $217,675.92. (Source: UNGM)
Iraq Allocates Funding to Equip New Schools
By John Lee. The Iraqi Cabinet has approved funding to furnish 1,000 model schools under the Iraq-China Framework Agreement, ensuring the project's progress. Key funding decisions include: Regional Petrodollars: Funds from the petrodollar allocations of Basra, Maysan, Kirkuk, and Wasit will fully cover furnishing costs in these provinces. Additional funds for other provinces, totalling 113.92 […]
Iraq welcomes New Ambassadors of Kuwait, Japan, Armenia
By John Lee. Iraqi President Abdul Latif Jamal Rashid has formally received the credentials of the newly appointed ambassadors of Kuwait, Japan and Armenia during a ceremony at Baghdad Palace. The ambassadors welcomed included: Hasan Mohammad Zaman of Kuwait, Akira Endo of Japan, and Ruben Soghoyan of Armenia. The event was also attended by Deputy […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 9th January 2025). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 2,290.4 1.8% 1.8% RSISX USD Index […]