By John Lee. The Iraqi Securities Commission (ISC) has published its main financial and economic indicators for 2024, highlighting significant growth in the performance of the Iraqi stock market. It said in a statement that the report reflects increased confidence in the market's role in supporting the national economy. Overview of Listed Securities Total Listed […]
By John Lee. Turkiye's Global Odeme Hizmetleri (Get Money Global) has been approved to provide foreign remittance services in Iraq within a credit agreement involving Western Union and MoneyGram. The announcement was made by the Central Bank of Iraq (CBI) and confirmed by Global Odeme Hizmetleri. (Sources: CBI, Global Odeme Hizmetleri)
By John Lee. Iraq's Ministry of Oil celebrated the groundbreaking of the West Qurna 1 Field Operations Center (Phase 1) and inaugurated several service projects in Al-Sadiq District, Basra Province. The initiatives were carried out by the Basra Oil Company (BOC) in collaboration with PetroChina, the operator of the West Qurna 1 field. The new […]
By John Lee. The Prime Minister of Iraq has directed the allocation of land for the creation of an industrial city dedicated to small businesses, particularly those supported under Riyada Initiative [Iraqi Riyada Network for Access Development and Advancement, IRADA Network]. Mohammed S. Al-Sudani said that, to date, the initiative has granted loans to around […]
By John Lee. The Iraqi Ministry of Trade has signed an agreement with Switzerland's Bühler and Egypt's Samco to construct five state-of-the-art grain silos, each with a storage capacity of 60,000 tonnes. The silos will be built in Kirkuk, Anbar, Wasit, Najaf, and Muthanna, as part of the ministry's infrastructure development plan. Minister Atheer Daoud […]
By John Lee. The Central Bank of Iraq (CBI) has announced the successful transition of external transfers from an electronic platform to direct operations by Iraqi banks through their international correspondent banks. According to a CBI statement, this milestone, fully achieved at the end of December, aligns with global best practices, promoting a stable and […]
By John Lee. The Iraqi Cabinet has authorised the Minister of Finance, or a designated representative, to sign a loan agreement funded by the Export-Import Bank of the United States (EXIM, EXIMBank). The loan will support the implementation of combined-cycle projects for the Kirkuk Gas Power Plant under the Ministry of Electricity. According to a […]
By John Lee. The Iraqi Cabinet has established new regulations for handling scrap metal, military surplus, and industrial waste. Key directives include: Free Transfers: Ministries of Defence, Interior, and other security agencies will transfer decommissioned equipment, empty ammunition casings, and military-grade scrap metal to the Military Industrialisation Authority without charge. Brass Transfers: All ministries and […]
By John Lee. The Iraqi Cabinet has approved the Ministry of Oil's proposal for the construction of the Basra-Haditha oil pipeline, with a capacity of 2.25 million barrels per day. Key decisions include: Contract Approval: Endorsed a 5.97225 trillion dinar [$4.5 billion] contract between Basra Oil Company (BOC) and State Company for Oil Projects (SCOP), […]
By John Lee. The Iraqi Cabinet has approved a one-year, renewable contract between the Ministry of Oil's Midland Refineries Company (MRC) and Rawad Al-Qimmah Company [Rowwad-Elqemma Company], as part of the operational plan for the Karbala Refinery. The contract, valued at $180 million annually, covers operations, laboratories, maintenance, safety, and staff training for gradual refinery […]
By John Lee. The Central Bank of Iraq (CBI) has announced positive financial indicators for Q3 2024, highlighting the success of its monetary policy during the year: Banking Sector Growth (Q3 2024 vs. Q3 2023) Total Deposits in Banks Growth: 4.2% Q3 2024 Value: 127.6 trillion dinars. Q3 2023 Value: 122.4 trillion dinars. Cash Credit […]
By John Lee. Iraq's Minister of Transport, Razzaq Muhibis Al-Saadawi, has announced progress on the Development Road Project, emphasizing that following the completion of detailed designs, the project will be presented to major international companies for investment opportunities. Key Progress Milestones: Completion of Preliminary Designs: The Ministry has finalized 100% of the preliminary designs for […]
