Tag Archives | Industrial Bank

Iraq Rethinks Bank Merger Plans

By John Lee. Iraq's Cabinet has revised an earlier decision to merge its Agricultural, Industrial and Real Estate Banks. At the start of 2024, the Cabinet approved a contract with UK-based professional services firm Ernst & Young (EY) to study the merger of Industrial Bank, Real Estate Bank, and Agricultural Bank [Agricultural Cooperative Bank?] into […]

EY to Advise Iraq on Banking and Insurance Reforms

By John Lee. The Iraqi Cabinet has approved a series of contracts with UK-based professional services firm Ernst & Young (EY), aimed at reforming Iraq's banking and insurance sectors: The first contract involves a comprehensive study on the restructuring of the state-owned Rafidain Bank and Rasheed Bank, with recommendations and a roadmap expected within six […]

Delegation from JP Morgan visits Iraq

By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani met with a delegation from J.P. Morgan Bank, including Daniel Zelikow, Vice Chair, and Mr. Ghali Laraki, Head of MENA Public Sector Group. The meeting focused on supporting Iraq's banking sector, the Central Bank of Iraq (CBI), and the private sector. Discussions also touched on international […]

CBI Lends $5.1bn to Iraqi Banks

By John Lee. The Central Bank of Iraq (CBI) has allocated $5.1 billion (6 trillion Iraqi dinars) in loans to banks in a bid to keep a handle on inflation. Ali Allaq, Central Bank general manager, told the Al-Hayat newspaper on Monday that the CBI is responsible for the stability of the market, adding that […]