The Council of Ministers authorized Finance Minister Baqer al-Zubaidi to discuss investing the rest of a Japanese loan with the Japanese ambassador. “The council during its 15th session decided to authorize the minister to discuss investing the remaining amount of the Japanese loan (around $220 million) with the ambassador to determine the projects that could […]
Tag Archives | Iraq Banking & Financial News
The latest Iraq financial and banking news including Dinar, Investment Oppportunities, Funds news and more.
CBI Sells $175m on Tuesday
The Central Bank of Iraq’s (CBI) dollar sales increased to $175.486 million in its daily auction on Tuesday, compared to $93.53 million in the previous session. “The demand hit $7.5 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $167.986 million in foreign transfers outside the country, covered at […]
Basra Council Approves Projects
Basra’s Provincial Council has approved different projects according to the budget of 2010. “The issue of deciding projects according to the 2010 budget will be finalized on Wednesday (April 14),” a source from the council told Aswat al-Iraq news agency on Tuesday. He noted that the projects embrace different sectors in the province. ( Aswat […]
Investment Conference Kicks off in Arbil
A conference to activate the investment sector in Diala kicked off on Tuesday in the northern city of Arbil, head of the Diala council’s investment committee said. “A reconstruction conference began on Tuesday (Arbil 13) in the city of Arbil to activate and encourage investments in Diala and to attract capital to implement important projects […]
Rate Cuts to Boost Lending
Iraq's central bank slashed its base rate by 100 base points to six per cent as of April 1 in reaction to subdued inflation and to boost bank lending, senior advisers at the bank said. The bank's website said that the rate cut - the first in nine months - was effective as of April […]
Dollar Sales Drop to 132m on Sunday
The Central Bank of Iraq’s (CBI) dollar sales reached $132.874 million in its daily auction on Sunday, compared to $167.325 in the previous session. “The demand hit $7.570 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $125.304 million in foreign transfers outside the country, covered at an exchange […]
Economic Agreement with Lebanon
Iraq government spokesman Al Dabbagh said that the Cabinet agreed to give the Minister of Finance the power to negotiate and sign a draft resolution to activate and protect mutual investments between Iraq and Lebanon. Al Dabbagh added that the agreement includes 12 items. It stipulates that each of the contracting parties guarantees fair treatment […]
Iraqi Banking Sector Flourishes
Iraq Private Bankers' League (IPBL) said that the capital of Iraqi private Banks increased from $30 million in 2004 to $1.6 billion today.
Iraq Lobbies for Cut in War Reparations
Iraq is seeking to reduce the amount of annual oil revenue it sets aside for war reparations, primarily to Kuwait, by 80 percent, the Iraqi ambassador to the United Nations told Reuters on Tuesday. Nearly 20 years after Iraq, then under the rule of Saddam Hussein, invaded its oil-producing neighbor, Baghdad is pressing the U.N. […]
Compensation Payments Should Continue - UN
The UN on Tuesday expressed satisfaction that the Iraqi Government is willing to continue to pay five percent of its oil revenues into the Compensation Fund whether under the present mechanism or a successor mechanism to the Development for Iraq (DFI) whose mandate expires in December of this year. "It is important to ensure that […]
Governor Invites Locals to Rebuild Kirkuk
Kirkuk Gov. Abdilrahman Mustafa on Monday has invited local investors to rebuild their province. "Those investors should actively participate in rebuilding and developing their province," a local provincial media source quoted Mustafa to Aswat al-Iraq news agency. Mustafa noted that investment is a pillar to develop countries, according to the source. "Local authorities in Kirkuk […]
Greeks Seek Opportunities in Missan
Missan’s governor discussed on Tuesday with a delegation from a Greek company the possibilities of investing in the province, mainly in the housing sector, according to a media official. “Governor Mohammad al-Shayaa al-Sudani held a meeting on Tuesday (April 6) with a local delegation representing a Greek company to discuss the possibility of setting up […]