From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG official warns gold smuggled from Sulaimani to Iran The president of the Kurdistan Region's importers and exporters union told Rudaw on Wednesday that gold is being smuggled to Iran from Sulaimani province, revealing […]
Tag Archives | Gold
Central Bank of Iraq Resumes Sale of Gold
By John Lee. The Central Bank of Iraq (CBI) has decided to resume the sale of gold ingots and coins starting on Wednesday, November 8, 2023, using an electronic platform. The bank has confirmed that both government and private banks can apply to purchase gold ingots and coins through a dedicated online platform, emphasizing that […]
Central Bank of Iraq Increases Gold Holdings
By John Lee. The Central Bank of Iraq (CBI) has recently acquired approximately 2.3 tons of gold, leading to a 1.79-percent increase in its overall gold holdings. With this purchase, the bank's total gold reserves now stand at 132.74 tons, maintaining its rank at 30 among the world's gold-holding nations. The Investments Department of the […]
Treasure Hunters search Iraq for IS's Lost Loot
By Martin Chulov and Nechirvan Mando, for The Guardian. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Treasure hunters circle in search of Islamic State's lost loot The ruins of Iraq and Syria are proving a treasure trove, with former foes vying to […]
Iraq Increases Currency and Gold Reserves
By John Lee. The Central Bank of Iraq (CBI) reportedly expects cash reserves to reach $90 billion by the end of this year, up from about $80 billion currently. CBI Deputy Governor, Ammar Khalaf, told the Iraqi News Agency (INA) that the increase is a result of higher oil prices. He added that gold reserves […]
Video: Workers Risk Health in Iraq's Gold Smelters
From Al Jazeera. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's smelters: Workers risk their health for gold and silver Decades of instability and corruption in Iraq have led to high unemployment. That is forcing some people to resort to dangerous work to […]
Video: What's behind Iraq's Large Gold Exports?
From Al Jazeera. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Gold has become one of Iraq's top exports despite there being no gold deposits. So what is the secret? Al Jazeera's Osama Bin Javaid reports from Baghdad:
Baghdad ruling deals Blow to Kurdistan's Gold Trade
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Baghdad ruling deals blow to Kurdistan Region's gold trade The Iraqi Civil Aviation Authority's decision to ban the import and export of gold to and from the Kurdistan Region last month has triggered anger […]
Kurdistan Imports Less Gold
By John Lee. The Kurdistan Region of Iraq has imported 26 tons of gold in the first six months of the year, a reduction on the same period last year. According to a report from Shafaaq News, 16.7 tons were imported through Sulaymaniyah International Airport, 8.2 tons through Erbil International Airport, and 1 ton through […]
Iraq Trebles Size of Gold Reserves
By John Lee. A report released this morning by the World Gold Council says that Iraq's Central Bank bought 48 tonnes of gold during 2014, trebling the size of its gold reserves over the year. Fortification and diversification of reserves, namely away from the US dollar, continues to be the driving force behind this activity, […]
Baghdad Gunmen Steal $3.8m Gold
By John Lee. Three gunmen wearing military uniforms have stolen more than 250 pounds of gold from a jeweler in Baghdad. A senior police official told NBC News that the men, traveling in a Land Cruiser with no licence plate and tinted windows, stopped a car belonging to the jeweler near the International Zone and […]
Central Bank of Iraq Buys 36 Tonnes of Gold
By John Lee. The Central Bank of Iraq has purchased 36 tonnes of gold valued at $1.6bn to help stabilise the Dinar against foreign currencies, Bloomberg reports. Iraq is now the 43rd largest holder of gold reserves globally, having already held 29.8 tonnes as of August last year, but the latest purchase is one of the biggest by […]