Tag Archives | banking

Tabaqchali: Banks and the Predictability of Earnings

By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Banks and the Predictability of Earnings The market, as measured by the Rabee Securities RSISX USD Index, which over the last two months discounted and looked through […]

Moody's assigned Credit Ratings for National Bank of Iraq (NBI)

By John Lee. Moody's Investors Service has assigned first time local currency long-term/short-term deposit ratings of B3/NP for National Bank of Iraq (NBI), and foreign currency long-term/short-term deposit rating of Caa1/NP. At the same time, the rating agency has assigned a Baseline Credit Assessment (BCA) of caa2, Adjusted BCA of b3, as well as long-term […]

New Report on Iraqi Banking and Financial Infrastructure

 Iraqi Banking Sector and Financial Infrastructure Overview This report dives deep into the financial sector in Iraq, covering Iraqi banks, government structure and spending, electronic and cashless payments, and recent developments in the Iraqi financial scene, as well as the main issues noted. In terms of banking services and technology, Iraq is getting close to […]

Fitch Rates Iraq's Sumer Commercial Bank 'CCC+'

By John Lee. Fitch Ratings has assigned the Sumer Commercial Bank (SCB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's "weak operating environment, limited franchise, unstable business model and weak profitability". More here. (Source: Fitch Ratings)

Al Sanam Islamic Bank selects ICSFS banking software

By John Lee. Al Sanam Islamic Bank, a newly-established Islamic bank in Iraq, has selected ICS BANKS Islamic Banking software solution from ICS Financial Systems (ICSFS). The signing ceremony took place at ICSFS' centre of excellence, Amman, Jordan. According to a press release, Al Sanam Islamic Bank will provide comprehensive, Shari'a-compliant financing products and services […]

Fitch Rates Iraq's KIIB Bank 'CCC+'

By John Lee. Fitch Ratings has assigned the Kurdistan International Islamic Bank (KIIB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's "weak franchise, unstable business model and operations in the highly volatile operating environment of Iraq". More here. (Source: Fitch Ratings)

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 […]