Kurdistan region’s parliament will resume discussion of the general budget draft law on Thursday, according to the media advisor to the Parliamentary Chairman. “Parliament’s Speaker Kamal Karkouki invited all legislators to attend next Thursday’s session at 10:30 a.m. to resume discussing the draft law,” Tareq Jawhar told Aswat al-Iraq news agency. The parliament had discussed […]
Tag Archives | Iraq Banking & Financial News
The latest Iraq financial and banking news including Dinar, Investment Oppportunities, Funds news and more.
Finance Minister to Sign UAE Agreement
Iraqi government has authorized the Finance Minister to sign an investment agreement with the United Arab Emirates (U.A.E.). It said that the authorization will facilitate investments in Iraq. ( Aswat Al Iraq )
Oil-for-Food Funds transfer by year end.
The Iraqi Government has a “realistic” plan to take full ownership by the end of this year of a fund administering proceeds from export sales of petroleum under the now defunct Oil-for-Food Programme, a top United Nations budget official told the Security Council today. “Once all the outstanding activities under the Oil-For-Food Programme are concluded, […]
Tags: Iraq Banking & Financial News, Oil
Iraq Central Bank Cuts Key Rate to 6%
Bloomberg reports that the Iraqi Central Bank cut its key interest rate by one percentage point to 6%, to boost economic growth as inflation slows, according to figures posted on the bank's website. The country's real growth in gross domestic product probably slowed to 4.3 percent in 2009, from 9.5 percent the previous year, as […]
Bank Doubles Credit Limit
The Trade Bank of Iraq (TBI) has doubled the maximum value of Letters of Credit it allocates to the private banking sector in Iraq. Last year alone 945 Letters of Credit were allocated to private banks, at a value of approximately $500m. The total number allocated to private banks by TBI is 2,446, at a […]
Turkish interest in Basra
The governor of Basra has met with the Turkish consul to discuss possible investment opportunities in the province, an official statement said on Tuesday. The meeting was also attended by members of a Turkish association, according to a statement released by the governor’s office and received by Aswat al-Iraq news agency. The visit aims to […]
Turks back major residential project.
The Investment Authority in Thi-Qar is about to reach an agreement with private and government banks in the province to provide guarantees to Turkish company Austm. It would provide loans to local investors to construct two residential areas in Shatrah. Head of IPCC, Dr. Ismail Aboudi said that the authority has set up a workshop […]
Committee in Missan to Follow Up Projects
A central committee has been formed in Missan to oversee progress in projects throughout the province. “The committee will help to resolve problems that are facing these projects,” Khalid Abdilwahid Kibian, Missan’s deputy governor, told Aswat al-Iraq news agency on Monday. He said that no projects were executed in Missan during 2009 due to a […]
Conference Calls for Supporting Reconstruction Projects in Diala
Participants in a reconstruction conference in Baaquba on Monday have agreed to ease the difficulties facing the reconstruction operations in Diala, and to return 360 billion Iraqi dinars which were allocated to the province. “Representatives of 15 ministries as well as officials of the executive and legislative authorities attended the reconstruction conference which was held […]
Part of 77m Dinar theft recovered
The Integrity Commission has been able to reduce the 77m Iraqi dinars embezzled from the Ministry of the Environment by recovering funds in a raid on the defendant’s home. After a court case lasting three days a statement said the main defendant in the case had misappropriated the funds by issuing fake cheques and through […]
Re-basing the Iraqi Dinar
The Central Bank of Iraq is planning to rebase the Iraqi dinar but hasn't decided yet on the timing of the move, the bank said in a statement last week. Affirms its commitment to its strategic projects, particularly knocking three zeroes from the Iraqi dinar," the statement said. "Despite the technical and logistical preparations for […]
Al-Zubaidi: 2010 Budget for Culture Ministry
The Minister of Finance Baqir al-Zubaidi, said the budget in 2010 will focus on different sectors in the Ministries of Culture , environment, human rights, education, and sports and youth. During a meeting of a Committee to plan strategy of the federal budget this year, Al Zubaidi stressed on taking into account the ministries important […]