The latest Central Bank of Iraq news – including Currency, Banking, Dinar, Reserves, Prices, Inflation, IQD, Revaluation, Redenomination and more.
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, […]
By John Lee. Iraq's core inflation rate rose to 5.2 percent year-on-year in September, up from 5 percent year-on-year in August. Speaking to Reuters on Tuesday, Mudher Kasim [Mudher Saleh], deputy governor of the Central Bank of Iraq (CBI), blamed the increase on higher food prices and the start of the school year. Core inflation strips […]
By John Lee. Investigators in Iraq have opened an inquiry into alleged manipulation of the exchange rate between the Iraqi dinar (IQD) and the US dollar, and arrest warrants have reportedly been issued for several officials including the head of the Central Bank of Iraq (CBI). Hassan Karim Aati, spokesman for the Commission on Integrity, […]
By John Lee. Iraq's deputy Minister of Finance has said the three zeros cannot be removed from Iraqi dinars during 2013 because no preparations have been made. According to the report from AKnews, the Iraqi Central Bank and people have been saying for four years that the zeros in the Iraqi currency will be erased […]
By John Lee. Iraq’s GDP is expected to grow by 33% over the next three years, according to a report from Reuters. The average rate of about 10% per annum over the next three years will be driven by increased oil revenues, Mudher Kasim, deputy governor of the central bank, told Reuters in an interview. […]
By John Lee. Iraq's core inflation rate dropped to 5.9 percent year-on-year in July, Mudher Kasim, deputy governor of the Iraqi Central Bank, has told Reuters. The figure is down from 6.1 percent in June. Core inflation strips out fuel prices. (Source: Reuters)
By John Lee. An MP and member of the Parliamentary Economic and Investment Committee, Aziz Sharif al-Mayahi, has demanded that the Iraqi Central Bank dismiss and replace some "influential figures" in the Bank who allegedly manipulate the exchange rate of the Iraqi dinar against the US dollar. The article in AIN refers to what it […]
The Iraqi Central Bank (ICB) said on Sunday that the deletion of zeros from the currency still needs further deliberations with relevant institutions, according to a report from AKnews. The ICB added that it is seeking to make the Iraqi currency stronger and more stable through new mechanisms with regard to dealing with banks for […]
The Iraqi Parliament and the Finance Committee support the Central Bank of Iraq (CBI)’s efforts to revalue of the Iraqi Dinar through the removal of three zeros from the currency, according to a report from AKnews. The CBI has announced that it has finalized plans to remove three zeros from the Iraqi currency in order […]
Trade Arabia reports that Iraq's core inflation slowed to 6.2 per cent in May, down from 6.7 per cent in April. The fall was due to a drop in the costs of food and housing said Mudher Kasim, deputy governor of the central bank. In April, the country saw high annual inflation mainly due to […]
The Iraqi Central Bank (ICB) said it is granting licences to "a limited number" of private banks to increase their branches in Iraq. Deputy governor Muzher Mohammed Saleh said more than 40 banks were granted the licences. Iraq has about 800 bank branches, and the ICB has required all banks to have at least 250 […]
The deputy governor of the Iraqi Central Bank (ICB), Muzher Mohammed Saleh, has set a deadline for all banks in Iraq to increase their capital to at least 250bn IQD ($215m). He said: "We asked all banks in Iraq to increase their capital this month to strengthen their dealings and give more loans." According to the report […]
