By Hayder Aziz. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Cylinder Seal: A Sovereign Digital Currency Engine for Iraq's Non-Oil Economy Abstract Iraq's economy faces a deeply interconnected set of problems: a vast informal workforce invisible to the financial system, a crushing 14:1 […]
By John Lee. Ahmed Tabaqchali of AFC Iraq Fund (and Expert Blogger on Iraq Business News) was interviewed this week on the Youtube channel Majlis & Markets, examining the true state of Iraq's economy, including stability since 2019, the Iraqi dinar (IQD), de-dollarisation, banking sector challenges, fintech growth, tokenisation, the Iraq Stock Exchange (ISX) and […]
By John Lee. The Ministry of Planning has hosted a consultative session on the "Journey of the Dollar in the Iraqi Economy: Between Monetary Policy and the Market." Organised by the Department of Economic and Financial Policies, the session brought together department heads and staff to analyse the sources, flows, and impact of foreign currency-primarily […]
By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Q: Following your recent article on the Dinar Revaluation (RV) and Israeli Airstrikes on Iran, the situation in the region has progressed. What is your current assessment as it relates to the dinar […]
By John Lee. The London School of Economics (LSE)'s Middle East Centre has hosted a talk by Ahmed Tabaqchali, exploring the economic and financial interactions of the Iraqi economy with the outside world, particularly the use of the dollar in relation to Iran and the US. While the US' Iraq policy is still fluid, there […]
By John Lee. The Central Bank of Iraq (CBI) announced an expansion of foreign currency transfer options for local banks, adding the Jordanian Dinar and Saudi Riyal to the list. Iraqi banks are now also permitted to fund trade with Turkey in Euros, previously restricted to transactions with EU countries. These currencies join the existing […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, met with Turkish Ambassador Anil Bora Inan and representatives of Turkish banks operating in Iraq to discuss a newly implemented financial transfer mechanism. The new system, which operates in euros and is executed through Turkish banks, aims to streamline and […]
By John Lee. On a recent webinar organised by the Iraq Britain Business Council (IBBC), Professor Frank Gunter of Lehigh University explained the causes and effects of Iraq's dual exchange rate. The three reasons why Iraq has two exchange rates are: Excessive Demand for US Dollars Internationally: There is a high demand for US dollars […]
By John Lee. On a recent webinar organised by the Iraq Britain Business Council (IBBC), Professor Frank Gunter of Lehigh University outlined the key changes in the dinar exchange rate over the years, as well as the consequences of having two exchange rates. (For more on the reasons why Iraq has two exchange rates, click […]
By John Lee. On a webinar organised by the Iraq Britain Business Council (IBBC) on Tuesday, Professor Frank Gunter of Lehigh University and Dr Ahmed Tabaqchali of AFC Iraq Fund (and Expert Blogger on Iraq Business News) discussed the drivers of the Iraqi dinar exchange rate. The event marks the official launch of the IBBC's […]
From the Iraq Britain Business Council (IBBC): Professor Frank Gunter launches a new white paper on de dollarisation of Iraqi economy Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC's advisory council on the challenges of de-dollarisation for Iraq. The Advisory Council members and IBBC members have actively contributed […]
By John Lee. The Kurdistan Regional Government (KRG) has said that customs duties and taxes at border crossings will now be levied exclusively in Iraqi dinars instead of US dollars. Full statement from the KRG: According to Decree No. 227 of the Council of Ministers, dated September 20, 2023, customs duties and taxes at border […]
