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.
By John Lee. The Central Bank of Iraq (CBI) has decided to revoke the licence of Al-Tufan Company for Currency Exchange and Brokerage due to what it describes as violations of Regulation No. (1) of 2022, which governs the operations of exchange and brokerage firms in Iraq. Click here to see the full statement from […]
By John Lee. The Central Bank of Iraq (CBI) has reported a 5.4-percent increase in banking sector loans and advances in Q4 2024, reaching IQD 64.12 trillion [$49 billion], up from IQD 60.81 trillion in the same period of 2023. According to state-run Iraqi News Agency (INA), the CBI noted that this growth reflects improved […]
By John Lee. The Central Bank of Iraq (CBI) has reported a 45.1-percent increase in its gold reserves in Q4 2024 compared to the same period in 2023. Reserves rose from IQD 12.29 trillion in Q4 2023 to IQD 17.83 trillion [$13.6 billion] in Q4 2024, driven by both an increase in gold holdings and […]
By John Lee. In his speech to a conference in Baghdad, Ali Mohsen Al-Allaq, Governor of the Central Bank of Iraq (CBI), highlighted significant progress in digital payments, citing an increase in ATMs and e-wallets, which helped boost financial inclusion to 40% from 20% in just two years, supported by CBI initiatives. He noted that […]
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a special meeting on Monday to review progress on the third phase of the Al-Rasheed Street rehabilitation project. The session included the Governor of the Central Bank of Iraq (CBI) and representatives from the Iraqi Private Banks League (IPBL), reflecting the government's commitment to restoring Baghdad's […]
By John Lee. The Central Bank of Iraq (CBI) has concluded its first quarterly meetings of 2025 with the US Treasury Department and the Federal Reserve Bank, held in Dubai, UAE, with participation from international auditing and consulting firms EY (Ernst & Young), K2 Integrity (K2i), and Oliver Wyman. Key highlights from the meetings included: […]
By John Lee. The Central Bank of Iraq (CBI) has announced General Tender No. (1/2025) for the supply, installation, and operation of 65 currency counting and sorting machines for its branches in Basra (35 units) and Mosul (30 units). The contract, with an estimated value of IQD 1.134 billion (approx. $865,000), will be financed from […]
By John Lee. Iraq's Minister of Finance met with a delegation from the German Agency for International Cooperation (Deutsche Gesellschaft für Internationale Zusammenarbeit, GIZ), the European Union, and the German Embassy in Baghdad, alongside representatives from the Central Bank of Iraq (CBI), the Federal Integrity Commission, the Federal Board of Supreme Audit (FBSA), and the […]
By John Lee. The Iraqi government, in collaboration with the Central Bank of Iraq (CBI), has launched a strategic initiative to modernise the country's banking sector. The reforms aim to enhance banking standards, strengthen financial resilience, and improve Iraq's integration with global financial systems. Key pillars of the initiative include: Governance and Ownership: Strengthening transparency […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired a high-level meeting to discuss the development of Iraq's sulphur and phosphate industries. Attendees included the Deputy Prime Minister for Energy Affairs, the Ministers of Oil, Finance, Industry and Minerals, and the Governor of the Central Bank of Iraq (CBI). The meeting focused on optimising the […]
By John Lee. The Washington DC-based Institute for Financial Integrity (IFI) has announced the launch of the Financial Integrity and Cross-Border Payments Training Program for the National Bank of Iraq (NBI), developed in partnership with the Central Bank of Iraq (CBI) and K2 Integrity. According to a press release from IFI, this groundbreaking initiative aims […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, participated in the Iraq Energy 2025 Conference in Baghdad, organised by the Iraq Development Platform. During a panel discussion, the Governor highlighted the CBI's adoption of non-traditional monetary policies aimed at economic stability. He emphasised the bank's role in financing […]
