By John Lee. Al-Taif Islamic Bank for Investment and Finance has been placed in receivership following the discovery of serious violations that affected its financial position and depositors' funds. The Central Bank of Iraq (CBI) announced the measure today (Thursday, 3rd September), citing Article 59 of the Banking Law No. 94 of 2004 (as amended). […]
By John Lee. The Central Bank of Iraq (CBI) has denied media reports that it is printing new banknotes with zeros removed, ahead of a planned currency redenomination. In a statement on Wednesday, the CBI said the reports have no official basis and that no new redenominated currency is being printed. It added that any […]
From The New Region. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq to Slash Three Zeros from Currency, Introduce New Notes Iraq is set to remove three zeros from its currency in a bid to rebrand the dinar and support digitizing transactions to […]
By Sinan Mahmoud, for The National. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq Considers Deleting Zeros from Dinar as Officials Revive Currency Overhaul Iraq is again considering a long-standing and controversial plan to delete zeros from the dinar as the country […]
By John Lee. Ali Abdul-Reza Hassan al-Alwan has been appointed chairman and board president of state-owned Trade Bank of Iraq (TBI). The appointment was made by order of the Prime Minister. Al-Alwan said the coming period would focus on consolidating the bank's development trajectory and strengthening its institutional performance through a strategic vision and integrated […]
By John Lee. A $75 million trade finance facility has been agreed between the European Bank for Reconstruction and Development (EBRD) and Al Mansour Bank for Investment (MBI), one of Iraq's leading private-sector banks. The facility is provided under the EBRD's Trade Facilitation Programme (TFP) and will offer guarantees and cash advances to support MBI's […]
By John Lee. The governors of Iraq's and Iran's central banks have met in Baghdad to discuss financial and banking cooperation between the two countries. According to the Central Bank of Iraq (CBI), the meeting was attended by Nizar Nasser Hussein, the CBI Governor, and his Iranian counterpart, Abdolnaser Hemmati, along with Iran's Ambassador to […]
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq to Drop Zeros From Its Currency as Dinar Redenomination Returns? Iraq's Communications Minister Mustafa Sanad says Iraq has decided to remove zeros from the dinar and reprint the currency, but the Central Bank […]
By Matt Smith, for Arabian Gulf Business Insight (AGBI). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi Bank Reforms Could Open up Sector for Regional Investors Last month the Central Bank of Iraq said that seven previously restricted banks had been given […]
By John Lee. A shipment of $500 million in cash has arrived in Iraq from the US Federal Reserve, destined for the Central Bank of Iraq (CBI). According to the state-run Iraqi News Agency (INA), an official source confirmed the delivery, stating that the funds will be used for transactions related to travellers and external […]
By Mustafa Saadoon, for Alhurra. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Exclusive: Iran War Has Cost Iraq $45 Billion Official sources said that collapsing oil exports and stalled development projects have inflicted massive losses on the country as Baghdad bets on deeper […]
By Ahmed Tabaqchali, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. US Dollar Shipments to Iraq are a Molehill, not a Mountain As the Iran war ramped up, it was reported that the United States halted dollar cash shipments […]
