By John Lee. A new electronic system for replacing damaged banknotes has been introduced by the Central Bank of Iraq (CBI), allowing citizens to submit replacement requests online through the Ur portal According to the CBI, users can enter the required data and submit their applications via the platform at currency.app.cbi.iq, after which the bank's […]
By John Lee. The US Department of the Treasury has sanctioned Iraq-based International Development Bank for Investment and Finance (IDB) as part of an operation targeting Iran's international financial networks. According to the Treasury, IDB was designated under Executive Order 13902 for operating in the financial sector of the Iranian economy. The Treasury alleges that […]
By John Lee. A delegation of Chinese companies specialising in investment, banking, and trade has met with Iraq's Minister of Trade to discuss potential partnerships and economic cooperation. The delegation presented a range of proposals and projects relating to investment, business development, and partnership frameworks. The meeting emphasised the importance of engaging with international investment […]
By John Lee. Iraq has announced a package of economic stimulus measures totalling around IQD 3.5 trillion ($2.7bn), covering housing finance, industrial lending, contractor payments, agricultural dues, and an expanded generations fund. The measures were agreed at a meeting chaired by Prime Minister Ali al-Zaidi and attended by the Minister of Finance, the Governor of […]
By John Lee. Nizar Nasser Hussein, Governor of the Central Bank of Iraq (CBI), has reportedly been elected Deputy Chair of the Council of Governors of Arab Central Banks and Monetary Institutions. According to the state-run Iraqi News Agency (INA), the position is described as the second-highest in the Arab world in the fields of […]
By John Lee. A specialist training course on risk management and environmental, social, and governance (ESG) standards has been held for staff from a number of banks operating in Iraq. The course was organised by the Iraqi Private Banks League (IPBL) in cooperation with the International Finance Corporation (IFC), a member of the World Bank […]
By John Lee. An unlicensed currency exchange and money transfer network has been dismantled in Baghdad, with five suspects arrested and $240,000 seized. According to Iraq's Ministry of Interior, the operation was carried out by units of the Federal Intelligence and Investigations Agency (FIIA). The suspects were operating in several districts on the Rusafa side […]
By John Lee. Iraq's parliamentary Finance Committee has held a workshop with the Iraqi Private Banks League (IPBL) to discuss the state of the banking sector and mechanisms for its development. The session was chaired by MP Uday Awad and attended by Ali Tariq Mustafa, Executive Director of the IPBL, along with a delegation of […]
By John Lee. Iraq's Ministry of Finance has held talks with a World Bank delegation on financial reform, automation projects, and the development of financial management tools. The delegation was led by Dalia Khalifa, Regional Director for the Middle East, and Emmanuel Salinas, World Bank Country Director for Iraq. Finance Minister Faleh Sari said the […]
By John Lee. A $25 million trade finance facility has been extended to Bank of Baghdad, one of Iraq's leading private-sector banks, under the European Bank for Reconstruction and Development (EBRD)'s Trade Facilitation Programme (TFP). According to the EBRD, the facility will support Bank of Baghdad in increasing its import and export transactions, expanding its […]
By John Lee. Iraq is considering replacing its current banknote series with a new issue, aiming to withdraw counterfeit, damaged and stolen notes from circulation and draw hoarded cash back into the banking system. According to 964 Media, discussions within the Central Bank of Iraq (CBI) and the parliamentary Finance Committee are focusing on a […]
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi PM Adviser Denies US Plans to Halt Dollar Shipments Iraqi PM adviser Mazhar Mohammed Saleh denied reports that Washington plans to halt dollar shipments if armed groups fail to disarm by Sept. 30. […]
