The Central Bank of the UAE (CBUAE) and the Central Bank of Iraq (CBI) have signed a Memorandum of Understanding (MoU) on 12th December, to enhance cooperation on banking supervision matters. The MoU covers three main areas, including control and supervisory issues, the exchange of supervisory information, and strengthening bilateral co-operation on training workers and […]
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.
Tags: Central Bank of Iraq (CBI), Central Bank of the UAE (CBUAE), featured, mn, United Arab Emirates (UAE)
FinTech in Iraq
By Mohammed Koperly (LLB, PstgD, MCIArb), for Al Nesoor Law. One of the most significant worldwide developments during Covid-19 was the increase in consumer engagement in financial markets, many for the first time especially in Iraq. The coronavirus outbreak has acted as a catalyst for a digital revolution facilitated by financial technology (fintech). As Iraq […]
Economist Recommends Re-Valuing Iraqi Dinar
By John Lee. An Iraqi economist has said that re-valuing the Iraqi Dinar could be considered if certain conditions were met. Dhurgham Mohamed Ali is quoted by Shafaq News as saying: "The exchange rate of the dollar should be gradually reduced to 1,300 dinars [from the current 1,460 dinars] while keeping an eye on the […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, re-denomination, re-valuation, Redenomination
Video: Friend of Robert Pether makes a Desperate Plea
By John Lee. 60 Minutes Australia has broadcast what it describes as a desperate plea from a close friend of engineer Robert Pether. Australian citizen Robert Pether and his Egyptian colleague Khalid Radwan, who have been detained in Iraq since early April, have reportedly been found guilty of fraud, and sentenced to five years in […]
Tags: Australia, Central Bank of Iraq (CBI), CME Consulting, Egypt, EKO Engineering Arabia, featured, Ireland, Robert Pether, United Arab Emirates (UAE), video
Iraqi Finance Minister "Supports Floating Exchange Rate" for Dinar
By John Lee. Iraq's Deputy Prime Minister and Finance Minister has reportedly said that he supports a floating exchange rate for the Iraqi currency, the dinar. Shafaq quotes Ali Allawi (pictured) as telling a press conference on Thursday that the Central Bank of Iraq (CBI) intervenes occasionally to keep the dinar in the range of […]
Tags: Ali Allawi, Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Engineers Jailed for 5 Years in Iraqi Contract Dispute
By John Lee. Australian citizen Robert Pether and his Egyptian colleague Khalid Radwan, who have been detained in Iraq since early April, have reportedly been found guilty of fraud, and sentenced to five years in prison. The pair are also reported to have been jointly fined $12 million. Their detention followed a contract dispute relating […]
Tags: Australia, Central Bank of Iraq (CBI), CME Consulting, Egypt, EKO Engineering Arabia, featured, Ireland, mn, Robert Pether, United Arab Emirates (UAE)
Engineers Still Held Without Charge in Iraq
By Editor on 7th July 2021 in Construction & Engineering In Iraq, Iraq Industry & Trade News, Security
By John Lee. Australian citizen Robert Pether and his Egyptian colleague Khalid Radwan are reportedly still being held without charge in Iraq, following a contract dispute relating to the construction of the new Central Bank of Iraq (CBI) head office in Baghdad. The pair were detained in early April, having allegedly been tricked into traveling […]
Tags: Australia, Central Bank of Iraq (CBI), CME Consulting, Egypt, EKO Engineering Arabia, featured, Ireland, mn, United Arab Emirates (UAE)
Iraq Parliament warns of "Collapse" of Iraqi Dinar
By John Lee. Iraq's Parliamentary Finance Committee has reportedly warned the Central Bank of Iraq (CBI) of a possible collapse in the value of the Iraqi dinar (IQD) against the US dollar. Committee member Muhammad Al-Shabki told Shafaq News Agency that there are fears of the collapse of the Iraqi currency "in the coming period" […]
Tags: Central Bank of Iraq (CBI), devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, forex, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Iraq "Cancels Interest" on Housing Loans; Increases Funding
By John Lee. The Central Bank of Iraq (CBI) has announced increased funding for the housing sector, and the cancellation of interest on "old and current" loans. It said it has allocated 1 trillion dinars [$685 million] to the Real Estate Bank and about 900 billion dinars [$616 million] to the Housing Fund. (Source: CBI)
Central Bank Warns Against Speculation in Iraqi Dinar
By John Lee. The Central Bank of Iraq (CBI) has confirmed its commitment to a stable foreign exchange rate for the Iraqi dinar. According to a statement from the bank, "the dollar exchange rate is fixed and there are no intentions to change." It added that the rate chosen at the end of 2020 was […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
The Dutch Disease and Iraq's Foreign Exchange Rate
By Editor on 18th May 2021 in Investment, Iraq Banking & Finance News, Iraq Industry & Trade News, Iraq Oil & Gas News, Politics
By Dr. Zeki Fattah, for The Iraqi Economists Network (IEN). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Dutch Disease and Iraq's Foreign Exchange Rate Economists who studied the reasons for the low per capita growth of GDP in developing countries that rely […]
Tags: Central Bank of Iraq (CBI), devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, Dutch Disease, featured, foreign exchange, forex, gdp, IQD, Iraqi Dinar News, Iraqi Economists Network (IEN), mn, re-denomination, re-valuation, Redenomination, rentier state, resource curse, Zeki Fattah
Foreign Engineers Detained "in Solitary Confinement" in Iraq
By Editor on 28th April 2021 in Construction & Engineering In Iraq, Iraq Industry & Trade News, Security
By John Lee. An Australian engineer and his Egyptian manager have reportedly been held without charge, and in solitary confinement, in Iraq for the past three weeks. Robert Pether, who lives in Ireland, is said to have been called to Iraq to discuss a dispute between his employer, UAE-based EKO Engineering Arabia, and the company's […]