By John Lee. Judge Haider Hanoun, the head of Iraq's Integrity Commission, has met with an American delegation to explore the possibility of a memorandum of understanding between Iraq's Asset Recovery Fund and the US Treasury. The meeting, held at the US Treasury headquarters, aimed to address Iraq's need for assistance in determining the fate […]
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.
Fitch Affirms Sumer Commercial Bank; Withdraws Ratings
By John Lee. Fitch Ratings has affirmed Iraq's Sumer Commercial Bank PSC's (SCB) Long- and Short-Term Issuer Default Ratings (IDRs) at 'RD' (Restricted Default) and Viability Rating (VR) at 'f'. Fitch has also withdrawn the bank's ratings. It says that, before the rating withdrawal, SCB's IDRs reflected the Central Bank of Iraq's (CBI) intervention, which […]
Conference on Iraq's Five-Year Development Plan
By John Lee. The Economic Relations Department of Iraq's Ministry of Trade participated in the first conference to formulate Iraq's five-year national development plan. The event, held in Baghdad and attended by the Prime Minister, focused on collaborative efforts for the nation's developmental future under the theme "Working Together to Shape Iraq's Development." Director General […]
Germany working on Financial Inclusion in Iraq
By John Lee. Germany's Gesellschaft für Internationale Zusammenarbeit (GIZ) (German Agency for International Cooperation) has joined forces with the Iraqi Private Banks League (IPBL) to work on more inclusive financial services. "Together, we can harness the unique strengths from both the private sector and the public sector and make a significant contribution to financial inclusion […]
Funding Iraqi Entrepreneurs under the PROSPECTS Programme
The ILO, the Central Bank of Iraq and partners celebrate success of the financial Inclusion Initiative for MSMEs under the PROSPECTS Programme [EN/AR] Hundreds of loans have been disbursed to aspiring entrepreneurs and existing MSMEs through the project, contributing to the creation and retention of more than 1,200 job opportunities for Iraqi host communities and […]
Iraqi PM Orders Reform of Banking Sector
By John Lee. Iraqi Prime Minister, Mohammed Shia al-Sudani, led a meeting on Tuesday to monitor the progress of banking reforms. The session, attended by the Finance Minister, Governor of the Central Bank of Iraq (CBI), and directors of government banks, focused on administrative and banking reforms initiated by the government as part of comprehensive […]
Foreign Currency at Iraqi Private Banks to be Increased
By John Lee. The Central Bank of Iraq (CBI) has reportedly made agreements to support several private Iraqi banks with foreign currency. State-run Iraqi News Agency (INA) quotes a government source as saying that, following meetings in Abu Dhabi with US officials, it has been agreed, "to boost the advance balance of five Iraqi banks […]
Central Bank Introduces Rigorous Forex Regulations
By Mohammed Muayad Koperly and Osama Tuma Fakhir, for Al Nesoor Law. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Central Bank Introduces Rigorous Regulations for Foreign Currency in Cross-Border Transaction The Central Bank of Iraq (CBI) recently released revised guidelines for foreign […]
Iraq to insist that Local Transactions are in Dinars
By John Lee. Iraq will require that all transactions inside the country are made using the Iraqi dinar from 2024, and not the US dollar. Statement from the Central Bank of Iraq (CBI): In a significant development, the Central Bank of Iraq, under the leadership of Mr. Ali Mohsen Al-Alaq, has revealed its plan to […]
Oracle Pitches for Iraqi Contracts
By John Lee. On September 19, the National Data Center held a meeting at the General Secretariat of the Council of Ministers to discuss the Human Resources and Payroll Management System with the global company Oracle. The meeting was chaired by Dr. Diaa Awad, the head of the Central Statistical Organization (CSO), and attended by […]
Tabaqchali: Banks to Fuel the Iraqi Market's Next Phase
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. Banks to Fuel the Market's Next Phase The market, as measured by the Rabee Securities RSISX USD Index, was up 16.3% for the month and up 65.5% […]
Depreciation of Iraqi Dinar sparks Protests
By John Lee. Dozens of people have reportedly protested in front of the offices of the Central Bank of Iraq (CBI) in Baghdad following a fall in value of the Iraqi Dinar (IQD) against the US dollar. Over the previous two days, the dollar is said to have risen from 1,470 dinars to 1,570 dinars. […]