Tag Archives | Capital Increases

Trade Bank of Iraq Doubles Capital

By John Lee. The Iraqi Cabinet has agreed to double the capital of state-owned Trade Bank of Iraq (TBI) to one trillion Iraqi dinars [$858 million], according to a report from Bloomberg Baghdad-based TBI is under investigation for alleged irregularities, and an arrest warrant has been issued for its former president and chairman, Hussein al-Uzri. […]

Iraqi Banks Must Increase Capital This Month

The deputy governor of the Iraqi Central Bank (ICB), Muzher Mohammed Saleh, has set a deadline for all banks in Iraq to increase their capital to at least 250bn IQD ($215m). He said: "We asked all banks in Iraq to increase their capital this month to strengthen their dealings and give more loans." According to the report […]

An ISX Year-end Jinx?

Since 2007, the Rabee Securities RSISX index has ended on a down note every year except 2010. (See chart.) In 2007, 2008, and 2009, the index peaked in July, August, and November, respectively, subsequently falling 27%, 7%, and 9% from those peaks to the respective year-end closes. 2010 was exceptional because the new government was […]