The latest Central Bank of Iraq news – including Currency, Banking, Dinar, Reserves, Prices, Inflation, IQD, Revaluation, Redenomination and more.
The Central Bank of Iraq (ICB) said on Monday that it has begun to pay the small depositors in Warka Ahli Bank for Investment, reports AKnews. Following a financial crisis, the bank was placed under ‘guardianship’ in March. The Deputy governor of the bank, Muzher Mohammed Saleh said: "There is payment for small depositors in […]
Construction Tech, part of the UAE-based Tech Group, has won two significant deals in Iraq totaling over $47 million, according to a report from Trade Arabia. The bigger of the contracts is a $45 million deal to revamp the Central Bank of Iraq, while there is also a $2.15 million agreement with Shell to support […]
The Financial Times reports that Iraq’s central bank has tightened its clampdown on its sales of dollars, amid fears that buyers are using them to launder money and skirt international sanctions on neighbouring Iran and Syria. The bank unveiled new rules on Monday to force customers to prove their identities by supplying tax records and […]
AKnews reports that the process of removing three zeros from the Iraqi dinar and replacing current banknotes with new ones will begin in September. The announcement, which will see the Iraqi Central Bank (ICB) re-print 30 trillion dinars ($26 billion), was made despite government fear over the project. Abdul-Hussein Abtan, a member of the economic […]
Zaha Hadid joined H.E. Dr Sinan Al-Shabibi, Governor of the Central Bank of Iraq (CBI) at a ceremony to sign the agreement between the CBI and Zaha Hadid Architects (ZHA) for the design stages of the new CBI Headquarters building. The ceremony was hosted at the Victoria & Albert Museum by H.E. Dr Muhielddin Hussein […]
Iraq's Central Bank says it will not allow the Iraqi dinar to depreciate and has been selling hundreds of millions of dollars to keep the currency stable, according to a report from Azzaman. The dinar weakened in December, prompting the bank to sell dollars in a bid to withdraw cash from Iraqi markets. The bank […]
Azzaman news agency reports that the Iraqi Central Bank’s budget forecast for 2012 is based on and oil price of $80 per barrel. Muatasem Akram, a consultant with the bank, said the forecast was reasonable, though much below the 2012 forecasts for oil prices on international markets. He acknowledged the bank’s budgetary estimates for oil […]
The deputy governor of Iraq's central bank has announced that foreign currency reserves have risen to close to $58 billion, and are expected to increase further thanks to a rise in oil revenues. Mudher Kasim said higher global oil prices could result in a budget surplus for 2011. Reuters quotes him as saying, “(The amount […]
According to reports from Al-Sabaah, the Central Bank of Iraq is planning to make its new currency forgery-proof. Central Bank Governor Sinan al-Shabibi claims that the new currency's attributes will make it 'difficult' to falsify, and says that the project to delete the three zeros, if implemented, will enhance the value of the Iraqi dinar […]
Reuters reports that it's a tough road ahead for Iraqi private banks required to raise their capital to boost business as they battle against decades of state dominance to win a slice of the asset base from government-run enterprises. It blames a poor credit culture, the lack of a modern banking system, and the dominance […]
Iraq’s Central Bank says the country is in need of a new currency in which the current zeros are removed to facilitate commercial transactions, according to Azzaman. The bank's Governor, Sinan al-Shabibi, said he was in talks with the prime minister, Nouri al-Maliki, on how to go ahead with the bid to issue currency with […]
As part of its visit to Lebanon, the delegation of the Iraqi banking sector, which includes 22 officials from the Central Bank of Iraq and Iraqi banks as well as some members of the project and financial development project in Iraq, visited the Association of Banks in Lebanon on Thursday 7 July at 11:30. BDL […]
