Tag Archives | Central Bank of Iraq (CBI)

Iraq Business News brings you the latest news from the Central Bank of Iraq (CBI). Subscribe for regular CBI Iraq updates, including Iraqi Dinar Revaluation and Investment news.

Central Bank discusses Increasing the Value of the Iraqi Dinar

By John Lee. On Thursday, Iraq's Finance Committee, chaired by Atwan Al-Atwani, convened with its members and the Governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, to discuss monetary policy, the banking system, and methods to increase the value of the Iraqi dinar. Al-Atwani stressed the importance of monitoring the economic file and […]

Tehran, Baghdad "Keen to Expand Banking Ties"

From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The chairman of the Iran-Iraq Joint Chamber of Commerce said banking officials from the two countries are keen to expand the monetary and banking relations. There is not any […]

Iraq Makes Progress on e-Payments

By John Lee. The Central Bank of Iraq (CBI) has reported an increase in foreign reserves to 148 trillion dinars [$113 billion] and deposits in the banking sector to 131 trillion dinars [$100 billion], which it says indicates a positive trend in monetary stability and financial growth. According to the state-run Iraqi News Agency (INA), […]

Visa supporting Iraqi Govt's Plans for Electronic Payment

By John Lee. Iraqi Prime Minister Mohammed Shiaa Al-Sudani received Mr. Andrew Torre, the Regional President of Visa for Central and Eastern Europe, the Middle East, and Africa, along with his accompanying delegation on Thursday. The Prime Minister emphasized that economic and banking reform is among the government's top priorities, welcoming cooperation in this field. […]

Markets Look Through Escalating Tensions

By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Markets Look Through Escalating Tensions The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was up 8.8% for the month. Over […]

US Sanctions Iraqi Bank; $6bn Fraudulently Transferred

By John Lee. The US Treasury Department has sanctioned Iraq's Al-Huda Bank, and its owner and Chairman, Hamad al-Moussawi. On Monday, the Department's Financial Crimes Enforcement Network (FinCEN) said the bank, "serves as a conduit for terrorist financing, as a foreign financial institution of primary money laundering concern." Along with its finding, FinCEN proposed imposing […]

Iraq sees Fall in Inflation

By John Lee. The official spokesman for Iraq's Ministry of Planning, Abdul Zahra Al-Hindawi, has said that Iraq has experienced stability and a decrease in inflation rates over the past two years. In 2021, the inflation rate was 6 percent, decreasing to 5 percent in 2022, and further dropping to 4.4 percent in 2023. He […]

PM Al-Sudani mets World Bank Group President in Davos

By John Lee. On the sidelines of the World Economic Forum (WEF) in Davos, Iraqi Prime Minister Mohammed Shia Al-Sudani met with Mr. Ajay Banga, the President of the World Bank Group. The meeting focused on discussing cooperation between Iraq and the World Bank in various economic sectors, contributing to supporting the government's efforts and […]

Iraqi PM meets Regional CEO of JPMorgan

By John Lee. In Davos, Iraqi Prime Minister Mohammed Shia Al-Sudani met with Mr. Khaled Haballah, the Regional CEO of J.P. Morgan (JPMorgan Chase) for the Middle East and North Africa. The meeting focused on exploring cooperation opportunities in financial areas, including opening accounts for Iraqi banks. Discussions also touched upon the potential participation of […]

Iraq establishes National Company for Electronic Payment Systems

By John Lee. The Central Bank of Iraq (CBI) has decided to establish the "National Company for Electronic Payment Systems in Iraq," marking a qualitative development in the country's financial infrastructure. The new company will be responsible for efficiently developing, operating, and managing national electronic payment and settlement systems, introducing new elements to enhance the […]