Iraqi Customs Completes Automation of 25 Border Centres
By John Lee. Iraq's General Customs Authority has reportedly completed the automation of 25 customs centres and is preparing to launch a single-window electronic system linking it with 15 government ministries and departments. Its Director-General, Thamer Qasim Daoud Al-Shiryan, told the state-run Iraqi News Agency (INA) that the Minister of Finance had formally instructed the […]
Iran's Hormuz Insurance Scheme 'Amounts to Transit Fee'
By John Crowley, 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. Iran's Hormuz Insurance Scheme 'Amounts to Transit Fee' Iran's plans to require vessels crossing the Strait of Hormuz to obtain insurance amount to a transit fee, […]
Iraq-Uzbekistan Joint Business Council to be Established
By John Lee. Iraq and Uzbekistan have signed a memorandum of understanding (MoU) to establish a joint economic and trade committee, marking the conclusion of a visit by Iraq's Minister of Trade, Dr Mustafa Nizar Al-Ani, to Tashkent. According to the Ministry of Trade, the MoU was signed by Al-Ani on the Iraqi side and […]
Iraq Freezes New Govt Investment Projects
By John Lee. Iraq's Council of Ministers has approved a recommendation from the Ministerial Council for the Economy to suspend new investment project contracts across all ministries, non-ministry-affiliated bodies, and governorates, as part of a public spending rationalisation drive. The freeze also covers spare parts orders and components added to existing projects without a direct […]
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 […]