The latest Iraq financial and banking news including Dinar, Investment Oppportunities, Funds news and more.
On January 19, Warka Bank (BWAI) will hold a general assembly meeting to “discuss the capital increase in accordance with Article 55/1 and elect a new board of directors.” At last, it seems, there may be some light at the end of the tunnel for the bank’s minority shareholders. The “capital increase in accordance with […]
The Iraq Stock Exchange ended the year with a bang last month, with Rabee Securities’ RSISX index rising 8.8% in the final two weeks of trading. Having been down as much as 10% year-to-date in early October, this index actually managed to close 2010 up 1.7%. Volume in the final week rose above IQD 10 […]
The formation of a new Iraqi government will undoubtedly be good for stock market sentiment, as such events generally are. And indeed the market has pretty obviously turned around already, with volumes increasing and the Rabee Securities index up about 6% since bottoming in early October. But skeptics may still argue that investors have no […]
It may be that the International DBX Trade Fair in Sulaymaniyah city in the Kurdistan region was one trade fair too many in Iraq, as it was unable to draw in the numbers that it wanted to in the four days to Sunday, 14th November. And yet, despite being held in the middle of nowhere easy […]
While in other markets stocks go ex-rights overnight, in Iraq things take a bit longer. Generally, trading is suspended prior to shareholders meetings at which rights and bonus issues will be voted on and does not resume for months afterwards. In the case of rights issues, the suspension will last until all the shares on […]
They say the only two things anyone ever really knows about a stock are the price and the ticker symbol. In Iraq, this is true to such an extent that it’s difficult even to adjust old record high prices for corporate actions like rights and bonus share issues. A stock could be making new highs […]
Kurdistan's sixth international trade fair in Erbil opened on Monday with 850 companies from 25 countries. Hundreds of companies are at the fair for the first time. Albert Awun of EFB Arak, which organised the fair, told AKnews: "The percentage of the participating new companies in the exhibition compared to last year is about 50%, while the […]
On October 6, the Central Bank of Iraq (CBI) announced new deadlines for the private sector banks to reach the capital targets it set for them last March. According to the CBI’s original timetable, the banks had until the end of this year to bring their capital up to ID 100 bn (US$ 85 mn), […]
An unusual feature of many of the listed Iraqi banks is that investments account for a greater share of their deposits than loans. This is true, for example, of Mansour Bank (BMNS), National Bank of Iraq (BNOI), Commercial Bank of Iraq (BCOI), Gulf Commercial Bank (BGUC), Bank of Baghdad (BBOB), and Middle East Investment Bank […]
By Tariq Abdell, Founder & Chairman, Mesopotamia Insight. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. The end of U.S. combat operations in Iraq presents a unique opportunity for a new beginning in U.S.- Iraq’s relationship. However, given Iraq’s crippling challenges and U.S. […]
Last month, Central Bank of Iraq governor Al-Shibibi told AFP he was hoping foreign banks would play a bigger role in developing Iraq’s financial system. From the banks’ point of view, he said, “the prospects are good, except for security.” But the foreign institutions that have already entered the Iraqi market through investments in local […]
Starting September 1, the Central Bank of Iraq (CBI) has announced it will be reducing the required reserve rate (RRR) from 20% to 15%. As this move frees up an additional 5% of deposits for the banks to lend out, you might think it would be positive for loan growth and stimulative for the economy […]
