Tag Archives | banking

Diebold Nixdorf deploys new ATMs in Iraq

Diebold Nixdorf has announced that Al Qurtas Islamic Bank is the first to deploy its DN Series ATMs in Iraq. The bank's ATMs will be monitored by Vynamic View software to detect and prevent downtime, optimize performance and reduce costs for the bank. Sara Ahmad, chief executive officer at Al Qurtas Islamic Bank, said: "We […]

Fitch Rates Iraq's RTB Bank 'CCC+'

By John Lee. Fitch Ratings has assigned the Erbil-based Region Trade Bank for Investment and Finance Private Shareholding (RTB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the privately-owned bank has minimal market shares in Iraq, no competitive advantages and limited distribution capabilities. More here. (Source: Fitch […]

Financial Investigators prepare Taskforce Investigations

Iraqi Judges and Financial Investigators prepare Taskforce Investigations The Federal Supreme Judicial Council of Iraq, the Kurdistan Judicial Council and UNDP Iraq, with support from the U.S. Government, launched a series of workshops for investigative judges, prosecutors, investigators, auditors and financial analysts from all across Iraq in late November 2021. These workshops will aid Iraqi […]

New Report: Expanding Access to Banks in Iraq

By John Lee. The Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS) has issued a new report on the banking sector in Iraq. "Expanding Access to Banks in Iraq: Challenges & Pathways to Reform" argues that one of the major obstacles to the development of the private sector […]

ADIB launches Digital Banking Platform in Iraq

Abu Dhabi Islamic Bank (ADIB) has said it will strengthen its presence in Iraqi market by launching "ADIB Direct", a digital platform that meets the growing business demands in Iraq. ADIB Direct is an intuitive digital banking platform that integrates a suite of corporate banking solutions into a single, streamlined interface. The platform offers cash […]

Audio: How Can Iraq Upgrade Its Banking Sector?

From the Iraqi Voices podcast. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. How Can Iraq Upgrade Its Banking Sector? Iraqi Voices hosts Akel Al-Ansari, a commercial banking specialist, to discuss the current state of the banking sector in Iraq and what is […]

Mastercard, CBI to Promote Digital Payments in Iraq

By John Lee. Mastercard has signed a partnership agreement with the Central Bank of Iraq (CBI) to digitize the country's payment ecosystem in a bid to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy and accelerate the advancement toward a cashless society. According to a statement from the company, the […]

First Iraqi Bank (FIB) selects ICSFS platform

By John Lee. First Iraqi Bank (FIB), a newly established digital bank in Iraq, has reportedly selected the ICS BANKS digital banking platform from ICS Financial Systems Limited (ICSFS), to start its operations in Baghdad, Iraq. Shaymaa Ali Hussein, Managing Director of First Iraqi Bank said: "The need for a digital bank in Iraq today […]