By John Lee. The Trade Bank of Iraq (TBI) has been awarded the "STP Excellence in Payments and Transfers" award from JP Morgan, recognizing the bank's commitment to efficient and sustainable direct payment practices. According to a statement from TBI, the award highlights its high efficiency in processing financial transactions, particularly in direct financial transfers […]
By John Lee. The Iraqi Judiciary has recovered 11 billion dinars [$8.4 million] following a financial fraud case involving a company that illegally profited from currency exchange rate differences through fraudulent overseas money transfers. According to a statement from Iraq's Commission of Integrity, the recovery was led by the Second Karkh Investigation Court, under the […]
By John Lee. Customers have reportedly expressed widespread satisfaction with the smooth and organized process of dollar distribution at branches of the state-owned Al-Rafidain Bank. The bank says it has been distributing $2,000 per pilgrim at the official rate of 1,320 IQD per dollar, as set by the Central Bank of Iraq (CBI). In a […]
By John Lee. The Central Bank of Iraq (CBI) has announced that pilgrims can purchase dollars through designated banks and companies in Baghdad and other provinces. The process involves exchanging Iraqi dinars for US dollars at the branches of participating banks and companies. Further details and a list of the authorized entities are available on […]
By John Lee. The Central Bank of Iraq (CBI) has issued new regulations for electronic payment service providers. The 48-page document targets money laundering and terrorist financing. Click here to see the full statement from the CBI [Arabic]. (Source: CBI)
By John Lee. Iraqi Finance Minister, Mrs Taif Sami Mohammed, along with the Governor of the Central Bank of Iraq (CBI), Dr Ali Al-Alaq, participated in the Annual Spring Meetings of the World Bank and the International Monetary Fund (IMF), held in Washington from 20-23 April 2025. The discussions focused on global economic challenges, financial […]
By John Lee. The Central Bank of Iraq (CBI) has revoked the licence of Taiba Land Company due to what it describes as violations of Regulation No. (1) of 2022, which governs the operations of exchange and brokerage firms in Iraq. Click here to see the full statement from the CBI. (Source: CBI)
By John Lee. The Central Bank of Iraq (CBI) has issued a warning to the public regarding the circulation of foreign banknotes - including authentic, withdrawn, and counterfeit currency - used by fraudsters to deceive citizens. According to the CBI, criminals lure individuals into exchanging these notes for Iraqi dinars at inflated rates under the […]
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) has decided to revoke the licence of Al-Tufan Company for Currency Exchange and Brokerage due to what it describes as violations of Regulation No. (1) of 2022, which governs the operations of exchange and brokerage firms in Iraq. Click here to see the full statement from […]
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)
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Is Iraq facing a cash crisis? With two months of expenditures still unaccounted for, it is evident that the dinar reserves derived from oil-based dollar revenues have been exhausted. Click here to read the […]
