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 Layal Shakir, for Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi central bank suggests halting business, financial dealings with Russia The Central Bank of Iraq (CBI) on Wednesday suggested halting business operations and financial dealings with Russia following America's far-reaching sanctions […]
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. Market Review: "Banks & the Iraq Investment Thesis" The market, as measured by the Rabee Securities RSISX USD Index, started the year on a positive note with […]
By John Lee. The Cabinet held its regular meeting on Tuesday, under the chairmanship by Prime Minister Mustafa Al-Kadhimi. In the presence of the Governor of Najaf, Mr. Majid Al-Waeli, the Cabinet agreed a number of measures to improve public services in Najaf: Construction of a second bridge in the Abbasid district Completion of Ya […]
The Central Bank of the UAE (CBUAE) and the Central Bank of Iraq (CBI) have signed a Memorandum of Understanding (MoU) on 12th December, to enhance cooperation on banking supervision matters. The MoU covers three main areas, including control and supervisory issues, the exchange of supervisory information, and strengthening bilateral co-operation on training workers and […]
By Mohammed Koperly (LLB, PstgD, MCIArb), for Al Nesoor Law. One of the most significant worldwide developments during Covid-19 was the increase in consumer engagement in financial markets, many for the first time especially in Iraq. The coronavirus outbreak has acted as a catalyst for a digital revolution facilitated by financial technology (fintech). As Iraq […]
By John Lee. An Iraqi economist has said that re-valuing the Iraqi Dinar could be considered if certain conditions were met. Dhurgham Mohamed Ali is quoted by Shafaq News as saying: "The exchange rate of the dollar should be gradually reduced to 1,300 dinars [from the current 1,460 dinars] while keeping an eye on the […]
By John Lee. 60 Minutes Australia has broadcast what it describes as a desperate plea from a close friend of engineer Robert Pether. 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 […]
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 […]
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 […]
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 […]
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" […]
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)
