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 […]
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: 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 […]
Mastercard, CBI to Promote Digital Payments in Iraq
By John Lee. Mastercard has signed a partnership agreement with the Central Bank of Iraq (CBI) to digitize the country's payment ecosystem in a bid to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy and accelerate the advancement toward a cashless society. According to a statement from the company, the […]
Tags: banking, Central Bank of Iraq (CBI), digital commerce, featured, Mastercard, mn, United States
French Development Agency considers branch in Iraq
By John Lee. The Agence Française de Développement (AFD) has reportedly said it is interested in setting up a branch in Iraq. According to Shafaq, a delegation from the French development agency made the comment during a meeting with the Governor of the Central Bank of Iraq (CBI), Mustafa Ghaleb Mukhif. The AFD's websites says […]
Iraqi Govt Relaxes Monetary Policy
By John Lee. The Iraqi government has said it is relaxing monetary policy to help businesses and people on low incomes. Ammar Mohammed (pictured), the Deputy Governor of the Central Bank of Iraq (CBI), said the measures include the provision of "soft" loans up to a value of 15 million Iraqi dinars (IQD) [$10,250], with […]
Central Bank says No Further Devaluation of Iraqi Dinar
By John Lee. The Deputy Governor of the Central Bank of Iraq (CBI) has reassured the markets that there will be no further devaluation of the Iraqi dinar. Ammar Mohammed said: "It was important to change the exchange rate before approving the budget in order to know the income and budget in dinars ... to […]