EBRD makes $100m Investment in Iraq
By John Lee. The European Bank for Reconstruction and Developmen (EBRD) has launched its first-ever investment in Iraq, providing a US$100 million trade finance facility to the National Bank of Iraq (NBI), the country's largest private bank. The facility, extended under the EBRD's Trade Facilitation Programme (TFP), will support Iraq's import and export activity by enabling […]
Baghdad Airport Welcomes First European Flight in 35 Years
By John Lee. Iraq's Ministry of Transport has announced the arrival of the first European aircraft at Baghdad International Airport (BIAP) in 35 years, marking a major milestone in the country's return to the European aviation network. The flight, operated by Aegean Airlines, Greece's national carrier, is running on the Baghdad-Athens-Baghdad route with two scheduled […]
Iraqi Central Bank Reduces Supply of Dinars
By John Lee. The Central Bank of Iraq (CBI) reported a 5.5 percent decline in currency issued during the third quarter of 2025, falling to 99,681 billion Iraqi dinars (approximately $76.1 billion) from 104,127 billion Iraqi dinars (approximately $79.5 billion) in the same period of 2024. The bank said that a reduction in currency in […]
Major Increase in Iraqi Gold Reserves
By John Lee. The Central Bank of Iraq (CBI) reported that the value of its gold reserves increased in the third quarter of 2025, rising to 27,552 billion Iraqi dinars (approximately $21.0 billion), up from 16,817 billion Iraqi dinars (approximately $12.8 billion) in the same quarter of 2024. This represents an increase of 64 percent. […]
Iraq Approves Austerity Measures
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired an extraordinary meeting of the Ministerial Council for the Economy, approving a package of measures aimed at reducing government spending and increasing revenues. Decisions included an urgent review of salaries and allowances for the three presidencies, with instructions to equalise benefits at the Presidency and Parliament […]
CBI: Iraq to Develop Regulatory Framework for Virtual Assets
By John Lee. Iraq has taken initial steps towards establishing a comprehensive regulatory framework for virtual and digital assets, aligned with international best practices. The first meeting of the National High Committee for the Regulation of Virtual Assets was held in Baghdad at the Central Bank of Iraq (CBI), bringing together senior representatives from regulatory, […]
Iraq, China Discuss Strategic Partnership
By John Lee. Deputy Prime Minister and Foreign Minister H.E. Fuad Hussein met Mr. Jin Xin, Assistant Minister of the International Department of the Communist Party of China's Central Committee, in Baghdad to review bilateral relations and future cooperation. Mr Hussein described China as a pivotal strategic partner for Iraq, noting that bilateral trade stands […]
Call for Proposals: Advancing Peace and Stability in Sinjar
From UN Women: Call for Proposals: Advancing Peace and Stability in Sinjar Submission deadline: 29 December 2025 Reference number: UNW-IRQ-CFP-2025-03 Through this Call for Proposals, UN Women aims to engage qualified Yazidi women-led, youth-led, and civil society organizations with proven experience in peacebuilding, community engagement, and women equality. The selected partners will contribute to the […]
DP World launches New Service between Dubai and Umm Qasr
By John Lee. DP World has introduced a new weekly 36-hour maritime service linking Dubai's Mina Rashid with Iraq's Umm Qasr Port, offering what it says is a faster and more predictable alternative to overland trucking. The route will accommodate up to 145 accompanied trailers per sailing on the upgraded 166.75-meter Ro-Ro vessel DP World […]
Iraq Licenses 158 New Industrial Projects in November
By John Lee. Iraq's Directorate of Industrial Development has issued 158 licences for new industrial projects during November, covering food, chemical, metal, construction, textile and engineering sectors. Baghdad received 46 licences, followed by Nineveh (17), Basra (15), Anbar (10), Karbala (7), and additional allocations across Salahuddin, Najaf, Wasit, Diyala, Babylon and others. The directorate also issued […]
Could South Korea become Iraq's Leading Arms Supplier?
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Could South Korea become Iraq's leading arms supplier? In a significant boost to Iraq's ground-based air defenses, Baghdad expects to receive South Korean M-SAM-II missile systems, also known as KM-SAM, early next year. […]
Iraq Explores Expanded Digital Transformation Projects
By John Lee. National Investment Commission (NIC) Deputy Chairman Salar Mohammed Amin met with a delegation of Canadian, American, Spanish and local technology companies to discuss accelerating Iraq's digital transformation, particularly as the country advances major development and reconstruction programmes. The meeting reviewed priority digital investment projects, including the national fibre-optic project and the smart […]