By John Lee. Iraq's state-owned Rasheed Bank is preparing to facilitate the sale of US dollars to pilgrims ahead of the upcoming Hajj season. The bank has instructed its branches to implement logistical arrangements, including increasing staffing levels, to ensure efficient processing of expected demand. According to the bank, the measures form part of a […]
By John Lee. Rasheed Bank has been authorised to contract Ernst & Young (EY) to carry out financial and banking audit and oversight work, as part of Iraq's banking sector reform programme. The decision was approved on Tuesday during a regular session of the Council of Ministers chaired by Prime Minister Mohammed Shia Al-Sudani. The […]
By John Lee. The Central Bank of Iraq (CBI) has announced a series of measures to address issues affecting Iraqi banks restricted from dealing in US dollars. In remarks reported by the state-run Iraqi News Agency (INA), Ahmed Dawood Salman, Director of Transfers at the CBI, said the bank is working with international audit firms, […]
By John Lee. S&P Global Ratings has placed the 'B-' rating on First Iraq Islamic Bank For Investment And Finance JSC on CreditWatch with negative implications. It added: "A sharp decline in oil production tied to the increased escalation of the Middle East conflict could lead us to downgrade Iraq, which could, in turn, affect […]
By John Lee. S&P Global Ratings has placed its 'B-' long-term sovereign credit ratings on Iraq on CreditWatch with negative implications. It affirmed 'B' short-term foreign and local currency ratings and 'B-' transfer and convertibility assessment. It added: "The CreditWatch negative reflects the risk of a downgrade for Iraq due to a sharp fall in oil […]
By John Lee. The Central Bank of Iraq (CBI) has announced a public tender for the supply of computer equipment in accordance with the technical specifications outlined in the bank's standard procurement documentation. The tender has an estimated total value of IQD 767,500,000 (approximately USD 586,000) and will be funded from the central bank's 2026 capital […]
By John Lee. The Central Bank of Iraq (CBI) has held an extraordinary board meeting to review recent economic and financial developments and assess macroeconomic indicators and future outlooks in light of regional and global changes. The board conducted a comprehensive review of conditions in the monetary and financial markets, including: Liquidity levels within the banking […]
By John Lee. The Central Bank of Iraq has launched a survey to gather feedback on public perceptions of its policies and decisions. The bank said the initiative forms part of its commitment to applying international best practices in institutional excellence and to strengthening confidence, stability and service quality. Respondents have been invited to complete a […]
By John Lee. The Central Bank of Iraq (CBI) has announced completion of the principal phase of its comprehensive reform programme for commercial, Islamic and foreign bank branches operating in Iraq. According to the Bank, all Iraqi banks have submitted the required documentation under the "minimum requirements" framework, selecting one of three pathways: Continuing in […]
By John Lee. The Iraqi Private Banks League (IPBL) has renewed its joint cooperation agreement with the Frankfurt School of Finance & Management, in a strategic step aimed at strengthening professional integration between the Iraqi and German banking sectors and supporting institutional development in line with international best practices. The agreement was signed on behalf […]
By John Lee. The Central Bank of Iraq (CBI) has issued guidance to licensed banks and non-bank financial institutions clarifying that no distinction should be made between old and new US dollar banknote series in exchange transactions. The Bank stressed the need to limit practices involving differential exchange rates between various US dollar print editions, […]
By John Lee. Rafidain Bank recorded more than IQD 841 billion (approximately USD 641.98 million) in electronic collection settlements on behalf of government entities during January 2026, reflecting continued expansion of digital payment systems. The bank said a total of 73,226 electronic settlements were processed the month, indicating growing adoption of digital collection services. It […]
