The first international economic conference will be held in Ninewa on June 24, which will cover construction, trade, energy, agriculture and information fields, the Ninewa governor said on Tuesday. “Preparations are underway to hold the five-day conference in Ninewa next June 24,” Atheel al-Najiefi told Aswat al-Iraq news agency. The conference will be organized by […]
Tag Archives | Iraq Banking & Financial News
The latest Iraq financial and banking news including Dinar, Investment Oppportunities, Funds news and more.
CBI Dollar Sales Up to $182m
The Central Bank of Iraq (CBI) dollar sales went up to reach $182.444 million in its daily auction Tuesday, compared to $82.740 million in the previous session. “The demand hit $4.690 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $177.754 million in foreign transfers outside the country, covered […]
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No easy fix for corrupt state banks
Last month, on the occasion of Rafidain Bank’s 69th anniversary celebration, the chairman reported that the bank was looking forward to implementing its new IT system “as soon as possible.” The system, which includes the Mysis products “Bankmaster” and “Branchpower,” is supposed to increase efficiency and reduce operational risk by bringing together information throughout the […]
Basra Governor Discusses Reconstruction with Jordanians
Basra Governor, Shaltagh Abboud al-Mayah, discussed on Monday with Jordanian minister of finance businessmen’s contribution in the reconstruction operations in the province, according to an official statement. “The minister expressed his ministry’s readiness to provide all facilities and to receive Iraqi employees to train them in banking, accounting and tax,” said the statement received by […]
Rafidain-Warkaa Banks Renew Relationship
Relationship between the state-owned al-Rafidain Bank and the private al-Warkaa Bank will normalize within days. “The al-Warkaa Bank has submitted guarantees that exceed the amount of deals between the two banks,” a source from the al-Rafidain Bank told Aswat al-Iraq news agency. He noted that recent news reports about the financial status of al-Warkaa Bank […]
CBI: Hard to Manipulate Iraqi Banking System
Laws and regulations, in addition to audit and follow up commissions, make it hard to manipulate the Iraqi banking system, said a source from the Central Bank of Iraq (CBI). “Our duty is to monitor the performance of Iraqi banks , and foster their development and financial status,” the source told Aswat al-Iraq news agency […]
CBI Sells $82 Million on Thursday
The Central Bank of Iraq (CBI) dollar sales went down to reach $82.740 million in its daily auction Thursday, compared to $110.862 million in the previous session. “The demand hit $2.650 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $80.090 million in foreign transfers outside the country, covered […]
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D1b to Clean Baaquba
More than ID1 billion has been allocated to carry out cleaning campaigns in Baaquba city. “The exact allocated amount is ID1.125 billion,” a local source told Aswat al-Iraq news agency. He noted that the campaigns will last for one year, and will be carried out by 350 workers. Baaquba, the capital city of Diala province, […]
CBI Dollar Sales Down to $110m
The Central Bank of Iraq (CBI) dollar sales went down to reach $110.862 million in its daily auction Wednesday, compared to $121.220 million in the previous session. “The demand hit $1.970 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $108.892 million in foreign transfers outside the country, covered […]
Tags: CBI, Iraq Banking & Financial News
Did Rafidain rumors ruin record rights issue?
On March 10, the Central Bank of Iraq (CBI) announced that the privately-owned Iraqi banks will be required to increase capital to ID 250 bn (USD 213 mn) over the next three years. Each bank will have to reach an initial capital target of ID 100 bn by the end of the first year and […]
Baban Calls 0n Provinces to do More
Iraq Minister of Planning Ali Baban called on Iraq Provincial Councils to introduce strategic programs as part of the framework of the 2010 Budget. The Minister said that the complementary budget was approved in some provinces a while ago which is a positive step which allows the provinces to start important projects which were delayed […]
Cash transferred to 3 Countries for Displaced Persons
The Iraqi cabinet has approved the transfer of 5.9 billion Iraqi dinars to Iraqi banks in Lebanon, Syria and Jordan to give cash to displaced families, according to the government’s spokesman Ali al-Dabbagh on Tuesday. “The move comes in a bid to improve the living standards of those families that were forced by acts of […]