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. Iraq's Ministry of Finance has said it will issue a new series of its "Injaz/Enjaz" ["achievement"] bonds. According to s statement issued on social media, but not yet available on the Ministry of Central Bank of Iraq (CBI) websites, the bonds will be offered in two denominations: A bond of 500,000 Iraqi […]
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani chaired a meeting on Monday focused on comprehensive reforms for Iraq's financial and banking sector, attended by key figures including the Minister of Finance and the Governor of the Central Bank of Iraq (CBI). Al-Sudani stressed the need for stricter oversight of financial transfers and actions […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, met with Turkish Ambassador Anil Bora Inan and representatives of Turkish banks operating in Iraq to discuss a newly implemented financial transfer mechanism. The new system, which operates in euros and is executed through Turkish banks, aims to streamline and […]
By John Lee. The Central Bank of Iraq (CBI) has identified irregularities in the operations of several exchange companies regarding the sale of U.S. dollars allocated to travellers. A recent audit and monitoring of company practices revealed that some exchange firms have been charging citizens a commission of 50,000 dinars for purchasing dollars, double the […]
By John Lee. US Deputy Secretary of the Treasury, Wally Adeyemo, and Iraqi Prime Minister Mohammed Shiaa' al Sudani met on the sidelines of the UN General Assembly to discuss Iraqi banking sector reform, financial relations with the United States, and combatting illicit finance. Deputy Secretary Adeyemo congratulated Prime Minister Sudani on Iraq's significant progress […]
By John Lee. The International Finance Corporation (IFC), a member of the World Bank Group, in collaboration with the Central Bank of Iraq (CBI), has signed an agreement to develop environmental and social risk management guidelines for the banking sector, and launched a seven-year Sustainable Finance Roadmap and an Environmental, Social, and Governance (ESG) Code […]
By John Lee. The Central Bank of Iraq (CBI) participated in the "Electronic Payments for Financial Stability" conference, hosted by Prime Minister Mohammed Shia' Al-Sudani and organized by the Iraqi Private Banks League (IPBL). The event focused on Iraq's digital transformation in the banking and financial sectors. Central Bank Governor Ali Mohsen Al-Alaq highlighted the […]
By John Lee. A court in the Netherlands has recognized and granted the enforcement of an arbitration award against the Central Bank of Iraq (CBI). The International Chamber of Commerce (ICC)'s International Court of Arbitration in Paris granted the award in favour of Abu Dhabi-based Cardno ME (CME) on February 26, 2023. It required the […]
By John Lee. The Central Bank of Iraq (CBI) announced the outcomes of a high-level delegation visit to the United States, led by Governor Ali Mohsen Al-Alaq, from August 26 to 29, 2024. The delegation held extensive meetings in New York with the U.S. Treasury, the Federal Reserve, and major financial institutions such as Visa, […]
By a Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Iraqi Dinar Revaluation Scam: An Examination of False Hope and Financial Deception Introduction The notion that the Iraqi Dinar (IQD) will appreciate in value by an unprecedented multiple has circulated in […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, chaired a supervisory committee meeting on the restructuring of the state-owned Rafidain Bank. Attendees included committee members from the Ministry of Finance, advisors to the Prime Minister, senior Central Bank officials, and representatives from Ernst & Young. The meeting reviewed […]
By John Lee. The International Labour Organization (ILO), Iraq's Ministry of Planning (MOP), and the Italian Agency for Development Cooperation (AICS) have held a two-day conference to discuss the national Micro, Small, and Medium Enterprises (MSMEs) development Policy for Iraq by bringing together government entities, international organizations, employer and worker groups, and financial institutions to […]
