The latest Central Bank of Iraq news – including Currency, Banking, Dinar, Reserves, Prices, Inflation, IQD, Revaluation, Redenomination and more.
According to a report from Al Sumaria News, Iraq’s Central Bank announced on Thursday that it is planning to delete the zeros from its currency, the Iraqi dinar. This step is one of the bank’s strategic missions, the Central Bank said adding that the new currency will include the Kurdish language in addition to the […]
Iraq's Central Bank expects the inflation rate to reach 7% in June, and pointed out that the increase of oil prices is one of the main reasons of inflation in the country. Central Bank advisor Mazhar Mohammad Saleh told Al Sumaria TV that production of goods is weak in comparison to the services sector, which […]
Iraq's core annual inflation rose to 6.3 percent in May from 6.1 percent in April, a senior official at the Central Bank of Iraq told Reuters on Sunday. The agency reports that the figure is driven by the cost of imported goods and services, especially healthcare. Inflation had previously risen from 5.5% in February to […]
Iraq has told the International Monetary Fund that its central bank would remain independent, despite Prime Minister Nouri al-Maliki winning a court ruling in January placing the central bank under the control of the cabinet, rather than the parliament. The ruling attracted criticism that the Central Bank of Iraq (CBI) might lose its independence. The […]
An adviser from the Iraqi Central Bank (ICB) said on Thursday that inflation will continue to rise if the Iraqi economy continues its dependence on crude oil revenues. Muzher Mohammed Saleh told AKnews that the inflation will continue increasing unless the agricultural and industrial sectors are stimulated, in addition to supporting local production. "The monetary […]
Reuters reports that Iraq's core annual inflation rose to 5.5 per cent in February versus 5.3 per cent in January, driven by increases in the cost of power, rental and housing. "February's year-on-year core inflation was 5.5 per cent", Mudher Kasim, a senior advisor at the Iraqi Central Bank, told Reuters. (Source: Reuters)
Following the Supreme Court decision to place several independent bodies under the control of the Iraqi cabinet, rather than the parliament, a legal expert has said that the Central Bank of Iraq is an independent body that cannot be linked to the Cabinet. According to the report from AKnews, the Central Bank of Iraq warned […]
Iraqi Prime Minister Nouri al-Maliki has won a court ruling placing independent bodies like the central bank and the electoral agency under the control of the cabinet, rather than the parliament, a centralization of power that critics are calling a "coup." Maliki's government made the request to the supreme court in December before he was […]
AKnews reports that an adviser at the Iraqi Central Bank (ICB) stated on Tuesday that a new law has been submitted to the parliament to combat money laundering in coordination with other government institutions, in order to provide greater protection for Iraq's economic system. Muzher Mohammed Saleh told AKnews that the new law is more […]
The Central Bank of Iraq (CBI) stated on Thursday that the assumed value of taxs in the 2011 budget is amounted to 2.7 trillion Iraqi dinars, that is 3% of the state budget. Muzher Mouhammed Saleh, the adviser of the ICB, told AKnews that the tax file is semi-disabled in Iraq due to the poor […]
Iraq's core annual inflation slipped to 3.1 percent in November from 3.2 percent in October and is likely to be at a similar level in December, a central bank official said on Tuesday. Reuters reports that Mudher Kasim, a senior adviser at the Central Bank of Iraq, said inflation was driven mainly by higher housing, […]
The Turkish alBaraka Bank will open its branch in Erbil, the Kurdistan Region’s capital, in early January, according to a report from AKnews. According to the information leaked to the agency's correspondent, the bank’s officials have completed the formal application through the Central Bank of Iraq (CBI), and have informed the Kurdistan officials of the […]
