By Amina al-Dahabi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A prominent economic official in the Iraqi government, who preferred to remain anonymous, said in an interview with Al-Monitor that out of the 33 private Iraqi banks operating in the country, 29 […]
Tag Archives | Central Bank of Iraq News | CBI Iraq
The latest Central Bank of Iraq news – including Currency, Banking, Dinar, Reserves, Prices, Inflation, IQD, Revaluation, Redenomination and more.
New 50,000 IQD Notes and Coins
The Central Bank of Iraq has reportedly announced the production of new 50,000 IQD bills and coins from the beginning of the New Year. The new dinar bill and coins will be printed in Arabic and Kurdish. The Bank's Deputy Governor said that they want to produce bills of higher value than the current largest […]
Tags: Central Bank of Iraq News | CBI Iraq, Dinar Revaluation News, IQD, re-denomination, re-valuation, Redenomination
CBI "Lifts Custody" over Warka Bank
By John Lee. The Central Bank of Iraq (CBI) has announced that its board has decided to "lift custody [guardianship]" over Warka Bank on August 25, 2013, following a final decision made by the Financial Services Court on 26th May, 2013. Warka Bank announced on its website that: "This decision comes in accordance with the […]
Central Bank Governor Promises Bright Future
By John Lee. The Governor of Iraq's Central Bank, Abdulbasit Turki, has said that Iraq’s financial capabilities are stronger than any challenges the country might be facing. Speaking at a celebration to mark the 10th anniversary or Iraq’s Commercial Bank, he said "The near future will be a surprise … our potentials are greater than […]
Currency Auctions by CBI Called Into Question
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. According to experts, the hard-currency auction governed by the Central Bank of Iraq (CBI) — the authority in charge of implementing monetary policy in the country — has ushered in the […]
Iran's Role In Iraqi Dinar Devaluation
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. There were conflicting accounts of the reasons for the rise in the value of the US dollar against the Iraqi dinar earlier this month. Politicians and economists have said that Iranian […]
Tags: Central Bank of Iraq News | CBI Iraq, dinar, Dinar Revaluation News, IQD, Iraqi Dinar News, re-denomination, re-valuation, Redenomination
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 […]
CBI Expects 9% Growth, Reserves of $105-$110bn
By John Lee. The Acting Central Bank Governor, Abdul-Basit Turki, has told Reuters that Iraq’s economy should grow 9 percent this year, as it increases its oil production. He also predicted international currency reserves of between $105 billion and $110 billion by the end of this year. Central Bank predictions for last year were for […]
Ex Central Bank Chief Accuses Govt
By John Lee. Sinan al-Shabibi (pictured), the former head Iraq's Central Bank who was removed for suspected mismanagement and currency manipulation, has dismissed the charges against him as baseless and trumped up. Speaking to AFP, he said authorities had compromised the bank's independence to access its reserves, adding that the government had been "spoiled" by […]
Iraqi Police Storm Central Bank, Arrest 36
By John Lee. Iraq's Interior Ministry says its forces have stormed Central Bank building in Baghdad and arrested 36 officials on suspicion of corruption. “A security force belonging to the ministry implemented an arrest warrant issued by the judicial council against a numerous officials of the Central Bank without any problem,” the ministry said in […]
What's the Real Reason for Shabibi's Dismissal?
Perhaps the biggest story of recent days was the shock dismissal of the Governor of the Central Bank of Iraq (CBI), Sinan al-Shabibi, and the issuing of arrest warrants for him and many of his staff. The nature of the allegations against Mr Shabibi are not entirely clear, but appear to center around manipulation of […]
Tags: CBI, Central Bank of Iraq, Central Bank of Iraq News | CBI Iraq, Commission on Integrity, Corruption, dinar, forex, Integrity Commission, Integrity Committee, IQD, Iraqi Dinar News, Nouri al-Maliki
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, […]