By John Lee. Prime Minister Mohammed Shia' Al-Sudani has received representatives from KPMG, the global auditing and financial advisory firm, to review ongoing cooperation with Iraq's banking sector as part of the government's efforts to enhance transparency and improve the country's financial reputation. The Prime Minister affirmed that Iraq's banking reform programme has become a […]
By Dr Thaer Mahmoud Rashid, for the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Opportunities for Enhancing Access to Hoarded Funds through the Iraq Stock Exchange A substantial proportion of Iraq's financial liquidity, estimated at nearly 20 […]
By John Lee. The Central Bank of Iraq (CBI) has announced the launch of the "Al-Samawal" campaign starting on 1st September 2025, in cooperation with banks and electronic payment service providers, as part of the National Financial Inclusion Strategy (2025-2029). The initiative aims to raise financial awareness, provide free bank account openings for traders and […]
By John Lee. International Development Bank (IDB) has announced the opening of Iraq's first smart banking branch, located at its headquarters on Abu Nuwas Street in Baghdad. According to a statement from the bank, the new facility provides customers with a fully digital banking experience, designed to be fast, secure, and integrated, and is available […]
By John Lee. The Central Bank of Iraq (CBI) has announced an increase in the ratio of total credit to total deposits, reflecting stronger lending activity and support for economic growth. The ratio reached 61 percent in the second quarter of 2025, up from 55 percent in the same period of 2024, representing an 11 […]
By John Lee. Iraq's Rafidain Bank has signed a professional partnership agreement with U.S.-based consultancy K2 Integrity (K2i), during a ceremony hosted by the Embassy of the Republic of Iraq in Washington. The agreement is grounded in Iraqi Cabinet Resolution No. (23274) of 2023. K2 Integrity will deliver a wide range of services, including anti-money laundering […]
By John Lee. The Central Bank of Iraq (CBI) has re-issued General Tender No. (2025/1) for the second time, inviting bids for the supply, installation, and operation of 68 currency counting and sorting machines for its branches in Basra (35 machines) and Mosul (33 machines). The tender covers both Iraqi and foreign currencies (USD and […]
By John Lee. In a follow-up to last week's report on the state of the Iraqi economy, the International Monetary Fund (IMF) has issued a more comprehensive 64-page report on its findings. The full document package includes: A Press Release. The Staff Report prepared by a staff team of the IMF for the Executive Board's […]
By John Lee. In a follow-up to last week's report on the state of the Iraqi economy, the International Monetary Fund (IMF) has issued a new 19-page report titled: "Unlocking Iraq's economic potential: The role of structural reforms in boosting medium-term non-oil growth." Click here to download the full report. To browse our comprehensive library […]
By John Lee. The International Monetary Fund (IMF) has said that Iraq's economy is facing considerable headwinds, with non-oil sector growth slowing from 13.8 percent in 2023 to an estimated 2.5 percent in 2024, impacted by reduced public investment, a weaker trade balance, and financing constraints that led to the accumulation of arrears. Real GDP […]
By John Lee. The Central Bank of Iraq (CBI) has issued a press release claiming extensive praise from an International Monetary Fund (IMF) mission, led by Jean-Guillaume Poulain, following meetings from 4th to 13th of May, 2025. The CBI statement, widely reported in local and international press, cites the post-meeting report from the IMF, which […]
By Padraig O'Hannelly. Iraq is embarking on a comprehensive restructuring of its banking sector with the assistance of leading international consultancy firms, according to Dr Salih Salman, Advisor to the Iraqi Prime Minister, speaking at the Iraq Britain Business Council (IBBC) Spring Conference in London on Tuesday. The Iraqi government has appointed Ernst & Young […]
