By John Lee. The United States and Iraq have held discussions focused on banking reform, financial compliance, and measures to counter illicit financial activity. According to a statement by the United States Special Envoy to Iraq, Mark Savaya, the talks involved the U.S. Department of the Treasury and the Office of Foreign Assets Control (OFAC), […]
By John Lee. The Central Bank of Iraq (CBI) reported that total bank credit extended by operating banks increased by 1.88 percent in the third quarter of 2025, reaching 73,942 billion Iraqi dinars (approximately $56.5 billion). This was up from 72,578 billion Iraqi dinars (approximately $55.5 billion) in the same period of 2024. (Source: Central […]
By John Lee. The Central Bank of Iraq (CBI) has announced public tender No. 2025/4 for the provision of transport services for staff of its Mosul branch. The contract covers the operation of 18 vehicles on internal and external transport routes, both within and outside the governorate, in line with the bank's standard non-consultancy services […]
By John Lee. The European Bank for Reconstruction and Developmen (EBRD) has launched its first-ever investment in Iraq, providing a US$100 million trade finance facility to the National Bank of Iraq (NBI), the country's largest private bank. The facility, extended under the EBRD's Trade Facilitation Programme (TFP), will support Iraq's import and export activity by enabling […]
By John Lee. Iraq's financial authorities have stressed that developing domestic financial markets is a strategic priority to support economic resilience, investment and long-term growth. At a conference in Baghdad on the future of Iraq's financial markets, Ali Mohsen Al-Allaq, Governor of the Central Bank of Iraq (CBI) said rapid global financial and technological shifts […]
By John Lee. The Banking Studies Centre at the Central Bank of Iraq (CBI) has organised a specialised training course on methods for detecting counterfeit local and foreign currency and comparing it with genuine notes. The course brought together staff from state-owned and private banks, as well as other financial institutions. It combines practical and […]
By John Lee. Fitch Ratings has affirmed Iraq's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B-' with a Stable Outlook. The rating is unchanged from this time last year. More details here. (Source: Fitch Ratings)
By John Lee. The Central Bank of Iraq (CBI) chaired the latest meeting of the Iraqi Payments Council to review progress in adopting electronic payment systems across government institutions and the private sector. The meeting discussed the procedures and mechanisms used by ministries and public sector bodies to implement e-payment technologies, the level of progress […]
By John Lee. Rabee Securities (RS) has announced the launch of two new market indices designed to broaden investment perspectives and enhance sector-focused analysis within the Iraqi market. 1. RS Iraq Halal Companies Index (RSIHX) The RSIHX is a price return index that tracks the performance of companies operating in accordance with Islamic principles. The […]
By John Lee. An Iraqi government spokesman has said Iraq views recent US sanctions against Iraqi enities, including the Muhandis General Company [Sharakat al-Muhandis al-Amma], as "deeply regrettable," describing it as a unilateral action that contradicts the spirit of friendship and mutual respect between the two countries. Basim Alawadi added that the Prime Minister has […]
By John Lee. The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed new sanctions targeting individuals and companies accused of helping the Iranian regime evade US sanctions, smuggle weapons, and engage in corruption through networks operating in Iraq. According to a statement from OFAC, the designations target Iraq-based financial and […]
By John Lee. The Central Bank of Iraq (CBI) Governor, Ali Mohsen Al-Allaq, met in Baghdad with the Representative of Institutional Clients and International Transaction Banking at Germany's Commerzbank, to explore avenues for strengthening bilateral financial cooperation. Discussions focused on expanding banking relations between Iraqi banks and Commerzbank to support economic activity and deepen financial […]
