Private Banks League discusses Banking Reform with Parliament
By John Lee. Iraq's parliamentary Finance Committee has held a workshop with the Iraqi Private Banks League (IPBL) to discuss the state of the banking sector and mechanisms for its development. The session was chaired by MP Uday Awad and attended by Ali Tariq Mustafa, Executive Director of the IPBL, along with a delegation of […]
New Automotive Facility Opens in Erbil
By John Lee. A new automotive facility for the OMODA and JAECOO brands has opened in Erbil, bringing sales, after-sales, spare parts and customer support under one roof. The site is operated by Jameel Motors Iraq, the official distributor of both Chinese brands in the country. The facility occupies approximately 9,000 square metres and includes: […]
Oil Squeeze "Pushes Iraq Towards Toughest Budget in Decades"
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. Oil Squeeze Pushes Iraq Towards Toughest Budget in Decades Iraq faces its toughest budget challenge in more than two decades as a sharp fall in oil […]
Gas Investment Plans Reviewed for Nahr Bin Umar Field
By John Lee. Plans to develop associated gas investment at the Nahr Bin Umar oil field in Basra province were reviewed at a meeting chaired by Dr. Izzat Sabir Ismail, Deputy Minister of Oil for Gas Affairs. According to the Ministry of Oil, the meeting was attended by representatives of South Gas Company, the Planning […]
Iraq Clarifies September Export Figures
By John Lee. Iraq's crude oil exports have averaged around 2.6 million barrels per day (bpd) during September, according to the Ministry of Oil, which issued a clarification following media reports suggesting exports had reached 4 million bpd. The Ministry stated that the 4 million bpd figure reflected a single day's exports, driven by a […]
New Import Controls and Export Drive from Min of Trade
By John Lee. Iraq's Ministry of Trade has outlined plans to tighten import controls and expand the reach of Iraqi goods into regional and international markets. Mohammed Hannoun, the ministry's official spokesman, told the state-run Iraqi News Agency (INA) that the ministry is working to regulate the import process in line with legal frameworks, balancing […]
Public Consultation on Non-Terrestrial Telecoms
By John Lee. Iraq's Communications and Media Commission (CMC) has published a draft regulatory framework for licensing telecommunications services on non-terrestrial networks, including in-flight connectivity (air-to-ground, A2G), and opened it for public consultation. The draft aims to establish technical and regulatory standards for such services, covering efficient use of radio spectrum and compliance with approved […]
Iraq Holds Separate Trade Talks with US and Iran
By John Lee. Iraq's Ministry of Trade held separate meetings on Sunday with the US chargé d'affaires in Baghdad and the Iranian commercial attaché, covering ways to strengthen bilateral economic and trade relations with each country. Trade Minister Mustafa Nizar Jumaa received Steven Fagin, the US chargé d'affaires, to discuss expanding American companies' participation in […]
CBI Rebuffs Speculation Over Foreign Currency Reserves
By John Lee. The Central Bank of Iraq (CBI) has stated that its foreign reserves are sufficient to meet all demand for foreign currency, including trade financing, bank card settlements, and travellers' cash requests at the official exchange rate. According to the CBI, the recent rise in the exchange rate on local markets is attributable […]
Iraq-Turkey Deal on Transport Infrastructure Development
By John Lee. Iraq and Turkey have completed a framework draft agreement on developing transport infrastructure, with representatives of both sides signing the document on Wednesday. According to the Iraqi Ministry of Transport, the draft was finalised following a series of intensive meetings covering legal, technical, financial, and operational aspects, with participation from relevant authorities […]
New Mechanism to Automate Customs Duty Pre-Payment in Iraq
By John Lee. An implementation mechanism for the pre-collection of customs duties has been finalised under Cabinet Decision No. 413 of 2026. Minister of Finance Faleh Sari chaired a meeting on Thursday to complete the mechanism, attended by Central Bank of Iraq Governor Nizar Nasser Hussein, Director General of the General Customs Authority Dr Thamer […]
Restricted Airspace Zones Removed from Iraqi Skies
By John Lee. Iraq has closed the file on restricted airspace zones in its skies, following confirmation that military airspace areas listed in the Iraqi Aeronautical Information Publication (Iraq AIP) are no longer used for military operations. The Ministry of Transport announced the development, noting that it was achieved through a purely national decision taken […]