Tag Archives | Central Bank of Iraq

Central Bank gets New Governor

By John Lee. The Secretary General of the Council of Ministers, Ali Mohsin Ismail (pictured), has been appointed Governor o the Central Bank of Iraq (CBI), replacing Dr Abdulbasit Turki [Abdul Basit Turki Saeed]. His position as GSCOM is to be filled by Dr. Hamed khalaf Ahmad. Mr Ismail said he was leaving his former […]

BIS To Accept Additional Deposits From Iraq

The Central Bank of Iraq announced on Sunday that it has received a memo from the Bank of International Settlements (BIS) in Basel Switzerland announcing that it will accept more deposits from Iraq. “This procedure will contribute in increasing Iraq’s money revenues after keeping it in a very secure location,” the Central Bank explained. The […]

Warka Bank Claims Court Victory

By John Lee. Warka Bank has issued the following statement with regard to its legal case against the Central Bank of Iraq: "With regards to the legal court case Warka Bank for Investment and Finance has filed against the Central Bank of Iraq Warka Bank for Investment and Finance is delighted to inform its cliental, […]

Iraqi Politician Attacks "Central Bank Corruption"

By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The controversial Iraqi Sunni politician Ahmed al-Alwani, who is president of the Economic Commission in the Iraqi parliament, ridiculed the notion that if Anbar province gains autonomy, its economy will be […]

Deputy Governor of CBI Released

By John Lee. The Iraqi authorities have reportedly released the deputy governor of the Central Bank of Iraq, Mohamed Salih, who has been detained for more than month on charges related to corruption. In October, Prime Minister Maliki removed the head of the central bank, Sinan al-Shabibi, accusing him of mismanagement and currency manipulation. He […]

Iraq Cabinet Names Interim CBI Governor

Iraq's cabinet has named an interim replacement as governor of the country's central bank. Prime Minister Nouri al-Maliki's spokesman Ali Mussawi said, "the cabinet decided to authorise Abdelbassit Turki, the head of the Board of Supreme Audit, to run the central bank indefinitely". The former head of the Central Bank of Iraq (CBI), Sinan al-Shabibi, […]

CBI Postpones Iraqi Currency Redenomination

The Central Bank of Iraq (CBI) has ruled out deleting the three zeros from the Iraqi currency in 2013 because it needs time and a new fiscal year. The Deputy Chairman of the CBI, Mudhir Mohamed Salih, told AIN on Wednesday: "The project of crossing out zeros from the Iraqi currency takes time ... The […]

Will the Banks Get More Time?

The Central Bank of Iraq’s June 30 deadline for private-sector banks to raise capital to IQD 150 billion is fast approaching. Yet of the 21 ISX-listed lenders only three—North Bank (BNOR), United Bank (BUND), and Kurdistan Bank (BKUI)—have reached the target so far. Rabee Securities’ most recent bank sector report found that as of June […]