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 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)
By John Lee. The Central Bank of Iraq (CBI) has confirmed its commitment to a stable foreign exchange rate for the Iraqi dinar. According to a statement from the bank, "the dollar exchange rate is fixed and there are no intentions to change." It added that the rate chosen at the end of 2020 was […]
By Dr. Zeki Fattah, for The Iraqi Economists Network (IEN). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Dutch Disease and Iraq's Foreign Exchange Rate Economists who studied the reasons for the low per capita growth of GDP in developing countries that rely […]
By John Lee. An Australian engineer and his Egyptian manager have reportedly been held without charge, and in solitary confinement, in Iraq for the past three weeks. Robert Pether, who lives in Ireland, is said to have been called to Iraq to discuss a dispute between his employer, UAE-based EKO Engineering Arabia, and the company's […]
By John Lee. Mastercard has signed a partnership agreement with the Central Bank of Iraq (CBI) to digitize the country's payment ecosystem in a bid to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy and accelerate the advancement toward a cashless society. According to a statement from the company, the […]
By John Lee. The Agence Française de Développement (AFD) has reportedly said it is interested in setting up a branch in Iraq. According to Shafaq, a delegation from the French development agency made the comment during a meeting with the Governor of the Central Bank of Iraq (CBI), Mustafa Ghaleb Mukhif. The AFD's websites says […]
By John Lee. The Iraqi government has said it is relaxing monetary policy to help businesses and people on low incomes. Ammar Mohammed (pictured), the Deputy Governor of the Central Bank of Iraq (CBI), said the measures include the provision of "soft" loans up to a value of 15 million Iraqi dinars (IQD) [$10,250], with […]
By John Lee. The Deputy Governor of the Central Bank of Iraq (CBI) has reassured the markets that there will be no further devaluation of the Iraqi dinar. Ammar Mohammed said: "It was important to change the exchange rate before approving the budget in order to know the income and budget in dinars ... to […]
By John Lee. The Iraqi Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi. Addressing the meeting, the Prime Minister said the reserves of the Central Bank of Iraq (CBI) have increased by $4 billion, adding that the government has been able to tackle what it describes as "the […]
By John Lee. The Central Bank of Iraq (CBI) has announced the launch of its "digital enrollment service", which it says is the first of its kind in Iraq and the region. According to a statement from the CBI: "Digital enrollment is an integrated digital financial system that enhances financial independence and liberation from traditional […]
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "Stock Market Rallies on Currency Devaluation" For Iraq and its equity market the year ended the same way it began, with a bang […]
By Dr Amer K. Hirmis, Capital Business Strategies Ltd. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Dinar needs political support...to serve the economy! The Iraqi Dinar (IQD) was devalued by nearly 23 percent on Saturday, December 19, 2020, from its previous (official) […]
