By Dana Taib Menmy for The New Arab. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Federal Board of Supreme Audit exposes US$600 million corruption scandal involving 'ghost travellers' Over 151,000 Iraqi citizens acquired US currency at the official rate for travel but […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Markets Look Through Escalating Tensions The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was up 8.8% for the month. Over […]
By John Lee. As part of financial and economic reforms, the Iraqi Cabinet has endorsed recommendations to conduct all state contracts within Iraq in Iraqi dinars. There will be exceptions for ongoing external grants, loans, and agreements, and new contracts involving foreign grants, loans, and agreements may adhere to agreed-upon foreign currency terms, as specified […]
By Mohammed Muayad Koperly and Osama Tuma Fakhir, for Al Nesoor Law. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Central Bank Introduces Rigorous Regulations for Foreign Currency in Cross-Border Transaction The Central Bank of Iraq (CBI) recently released revised guidelines for foreign […]
By Lubomir Tassev for Bitcoin.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iran Looking to Replace Dollar With Dinar in $10 Billion Trade With Iraq Iran's government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail […]
By John Lee. UK-based online trading and foreign exchange company ATFX has announced the start of operations in Iraq, in partnership with Iraq's Ashur Bank. The agreement was signed in Jordan by Joe Li, Global Chairman of ATFX, and Ziad Fatayer, the CEO of Ashur Bank. Speacking at the event, Managing Director of ATFX Levant, […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Takes a Breather, While the Currency Stabilises The market took a breather after a great three-month run from the January lows, during which it, as measured […]
Writing in the Financial Times, Raya Jalabi says that attempts to control a monetary crisis have had unintended consequences for a country struggling to get back on its feet Click here to read the full article (subscription required)
By Suadad al-Salhy for Middle East Eye. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. How Iraq caused a currency crisis by paying Iran in dinars Desperate to avoid power shortages, Kadhimi's government gave Iran billions of dinars. US sanctions however mean it […]
By John Lee. Iraqi Finance Minister, Dr. Ali Allawi, has presented his vision for the Iraqi economy. In the 27-page document, he says that the changing world order following the war in Ukraine is expected to lead to a period of sustained high oil prices, providing Iraq with an opportunity to address its structural imbalances, […]
By Olivia Bridge. Despite recent tumultuous times and a weakening economy in Iraq, government is said to be implementing reforms that are aimed at reviving its ailing currency. Forex trading in Iraq While forex trading in Iraq is still a relatively new concept, it is gradually being embraced by nationals. Reports on the matter suggest […]
By John Lee. Iraq's Parliamentary Finance Committee has reportedly warned the Central Bank of Iraq (CBI) of a possible collapse in the value of the Iraqi dinar (IQD) against the US dollar. Committee member Muhammad Al-Shabki told Shafaq News Agency that there are fears of the collapse of the Iraqi currency "in the coming period" […]
