By John Lee. Iraq's Cabinet has revised an earlier decision to merge its Agricultural, Industrial and Real Estate Banks. At the start of 2024, the Cabinet approved a contract with UK-based professional services firm Ernst & Young (EY) to study the merger of Industrial Bank, Real Estate Bank, and Agricultural Bank [Agricultural Cooperative Bank?] into […]
Tag Archives | Agricultural Cooperative Bank
EY to Advise Iraq on Banking and Insurance Reforms
By John Lee. The Iraqi Cabinet has approved a series of contracts with UK-based professional services firm Ernst & Young (EY), aimed at reforming Iraq's banking and insurance sectors: The first contract involves a comprehensive study on the restructuring of the state-owned Rafidain Bank and Rasheed Bank, with recommendations and a roadmap expected within six […]
Capital Increase for Iraq's Agricultural Cooperative Bank
By John Lee. In its 40th regular session, chaired by Prime Minister Mohammed Shia Al-Sudani, the Iraqi Cabinet agreed to increase the capital of the Agricultural Cooperative Bank by nearly 30 percent. The increase, totaling IQD 29,476,500,000 [$22.6 million], will be added to the bank's current capital of IQD 100,600,000,000. In a statement, the Media […]
Iraq Postpones the payment of Debts owed by Farmers
By John Lee. Iraq's Minister of Finance has directed the Agricultural Cooperative Bank to postpone the payment of debts owed by farmers for a period of two years. Dr. Ali Allawi (pictured) said: "Based on Article Thirteen of the Food Security Law, it was decided to postpone for a period of two years the collection […]
Loans of up to 3 Billion Dinars for Iraqi Farmers
By John Lee. The Director of the Credit Department at the Agricultural Cooperative Bank of Iraq, Hussein Hekmat Al-Ghabban, has said that loans of up to 3 billion dinars ($2 million) are available to farmers to support a range of agricultural and livestock projects. In a promotional video circulated by the Government of Iraq, he […]
30 Years Jail for Bank Fraud in Amara
By John Lee. Iraq's Commission of Integrity (COI) has announced that an accountant at the Al-Amara branch of the Agricultural Cooperative Bank has been given a 30-year prison sentence for the embezzlement of 996 million Iraqi dinars ($680,000). Her assets were also seized, and she will be required to repay the amount. A former director […]