By John Lee. Iraq's Ministry of Finance has held talks with a delegation from Germany's Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) on expanding cooperation in financial reform. The meeting, chaired by Deputy Minister Abdul Hassan Jamal and attended by Ministry Adviser Hassan Al-Akeeli and Director General of the Public Debt Department Ghufran Kazem, reviewed previous […]
By John Lee. Iraq and the International Monetary Fund (IMF) have concluded a round of negotiations in Amman, Jordan, making progress towards an IMF-supported reform programme for the coming years. Finance Minister Faleh Sari said the discussions focused on establishing a medium-term reform path for 2027-2029. According to the Ministry of Finance, the reform programme […]
By John Lee. Iraq's Ministry of Finance has held talks with a World Bank delegation on financial reform, automation projects, and the development of financial management tools. The delegation was led by Dalia Khalifa, Regional Director for the Middle East, and Emmanuel Salinas, World Bank Country Director for Iraq. Finance Minister Faleh Sari said the […]
By John Lee. The Iraqi Private Banks League (IPBL) has welcomed the recent announcement that seven Iraqi private banks are to regain access to foreign currency correspondent banking channels (excluding the US dollar). The announcement followed high-level talks between the Central Bank of Iraq (CBI) and officials at the US Treasury. An IBPL statement described […]
By John Lee. The Ministry of Finance has held a meeting with representatives of Adam Smith International to discuss support for the transition towards programme and performance-based budgeting. The meeting examined cooperation mechanisms for training Iraqi financial staff and developing technical capabilities to support the gradual move from line-item budgeting to budgeting linked to government […]
By John Lee. The Central Bank of Iraq (CBI) has announced a series of measures to address issues affecting Iraqi banks restricted from dealing in US dollars. In remarks reported by the state-run Iraqi News Agency (INA), Ahmed Dawood Salman, Director of Transfers at the CBI, said the bank is working with international audit firms, […]
By John Lee. The Central Bank of Iraq (CBI) has announced completion of the principal phase of its comprehensive reform programme for commercial, Islamic and foreign bank branches operating in Iraq. According to the Bank, all Iraqi banks have submitted the required documentation under the "minimum requirements" framework, selecting one of three pathways: Continuing in […]
By John Lee. The Iraqi Private Banks League (IPBL) has renewed its joint cooperation agreement with the Frankfurt School of Finance & Management, in a strategic step aimed at strengthening professional integration between the Iraqi and German banking sectors and supporting institutional development in line with international best practices. The agreement was signed on behalf […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Beleaguered by low oil prices, Iraq moves to curtail customs evasion A new scheme aimed at combating customs evasion has triggered nationwide protests and strikes in Iraq. Traders say the new regulations have […]
By John Lee. Iraq's General Customs Authority has approved new mechanisms for calculating the customs value of imported goods. The mechanisms will be applied across all customs centres and include the following measures: Adoption of the customs value stated in duly declared commercial invoices submitted under the advance declaration system, supported by bank transfers, at […]
By John Lee. Discussions have been held on the restructuring of state-owned banks and the insurance sector as part of Iraq's financial reform programme. The meeting took place at the Ministry of Finance under the chairmanship of Minister of Finance Taif Sami Mohammed, with representatives of Ernst & Young, alongside senior officials from the Ministry […]
By John Lee. As part of efforts to expand homeownership opportunities for citizens and activate national initiatives supporting middle- and low-income groups, the Prime Minister of Iraq has directed the relevant authorities to take the necessary steps to implement a proposal to simplify housing loan procedures for government employees. The proposal, jointly prepared by the […]
