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By John Lee. Under the patronage of His Excellency Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq (CBI), a training cooperation agreement was signed between the CBI and the British Council, in the presence of UK Ambassador to Iraq, Mr. Irfan Siddiq. The agreement was signed by Dr. Falah Salim, Director of Human […]
By John Lee. Under the patronage of Central Bank Governor Ali Mohsen Al-Allaq, a workshop has been launched to support the implementation of the bank's new strategy to increase private sector lending, with a focus on small and medium-sized enterprises (SMEs). In his opening remarks, Governor Al-Allaq emphasised the bank's commitment to addressing challenges in […]
By Samer Khraishi, Regional Director for Account Management and Business Development, GCC, Iraq and Jordan at BPC. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Modernising Iraq's Financial Infrastructure: The Rise of Digital Payments Iraq's financial infrastructure has long been in need of significant […]
By John Lee. A report by the Future Iraq Institute for Economic Studies and Consultations reportedly highlights significant fluctuations in the exchange rate of the Iraqi Dinar (IQD) against the US Dollar on the parallel market over the past two decades, driven by a mix of seasonal, political, and macroeconomic factors. Key factors cited in […]
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani chaired a meeting on Monday of the High Committee tasked with reassessing and restructuring the boards of directors of state-owned banks and the Central Bank of Iraq (CBI). The committee approved several recommendations focused on evaluating board performance as part of a broader programme of banking […]
By John Lee. The International Labour Organization (ILO), in partnership with the Central Bank of Iraq (CBI) and funded by the Italian Agency for Development Cooperation (AICS), conducted a five-day training workshop in Erbil to equip Iraqi financial institutions with the expertise required to develop green microfinance products supporting sustainable small and medium-sized enterprises. Participants […]
By John Lee. The European Bank for Reconstruction and Development (EBRD) is set to commence operations in Iraq this September, following the country's accession to the European Union Bank. Ali Mohsen Al-Allaq, Governor of the Central Bank of Iraq (CBI), received an EBRD delegation in Baghdad to discuss the final steps required before operations begin. […]
By John Lee. Iraq has launched its first International Conference on Carbon Economics in Baghdad on Tuesday, themed "Carbon for Development." The event, organised by the Ministry of Environment in partnership with the General Company for Carbon Economics, brought together high-level participants from the Ministry of Oil, the Central Bank of Iraq (CBI), and international […]
By John Lee. A team from the International Monetary Fund (IMF) has concluded a visit with Iraqi officials, concluding: Economic Challenges: Iraq faces a highly uncertain global environment, declining oil prices, and acute financing pressures, which are harming economic activity and deepening existing vulnerabilities. Urgent Measures Needed: Contain the fiscal deficit by increasing non-oil tax […]
By John Lee. Iraq's state-owned Al-Rafidain Bank has announced the launch of the second phase of its "Riyada" initiative [Iraqi Riyada Network for Access Development and Advancement, IRADA Network], following the success of the first phase, which it says funded over 8,000 productive projects with a total of more than 107 billion IQD [$82 million]. The […]
By John Lee. Customers have reportedly expressed widespread satisfaction with the smooth and organized process of dollar distribution at branches of the state-owned Al-Rafidain Bank. The bank says it has been distributing $2,000 per pilgrim at the official rate of 1,320 IQD per dollar, as set by the Central Bank of Iraq (CBI). In a […]
By John Lee. President Abdul Latif Jamal Rashid and Governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, met at Baghdad Palace to discuss economic reforms aimed at strengthening Iraq's financial sector and fostering sustainable growth. They emphasized the importance of modernizing the banking system, stabilizing the market, and creating a robust financial framework […]
