By John Lee. The European Bank for Reconstruction and Developmen (EBRD) has launched its first-ever investment in Iraq, providing a US$100 million trade finance facility to the National Bank of Iraq (NBI), the country's largest private bank. The facility, extended under the EBRD's Trade Facilitation Programme (TFP), will support Iraq's import and export activity by enabling […]
The Iraq Britain Business Council (IBBC) and British Chamber of Commerce in Turkey (BCCT) have hosted an online discussion on doing business in Iraq. Moderated by IBBC's Ashley Goodall, the webinar featured contributions from: Chris Gaunt OBE, Chairman, British Chamber of Commerce in Turkey (BCCT) Jonathan Wilks CMG, Senior Adviser to IBBC, and former Ambassador […]
By John Lee. Rabee Securities (RS) has announced the launch of two new market indices designed to broaden investment perspectives and enhance sector-focused analysis within the Iraqi market. 1. RS Iraq Halal Companies Index (RSIHX) The RSIHX is a price return index that tracks the performance of companies operating in accordance with Islamic principles. The […]
By John Lee. The Washington DC-based Institute for Financial Integrity (IFI) has announced the launch of the Financial Integrity and Cross-Border Payments Training Program for the National Bank of Iraq (NBI), developed in partnership with the Central Bank of Iraq (CBI) and K2 Integrity. According to a press release from IFI, this groundbreaking initiative aims […]
By John Lee. The Abu Dhabi Exports Office (ADEX) has reportedly signed a line-of-credit agreement worth AED36.7 million (US$10 million) with the National Bank of Iraq (NBI). According to WAM, the financing agreement was signed virtually by Khalil Al Mansouri, Acting Director-General of ADEX, and Ayman Abu Dhaim, CEO of the National Bank of Iraq. […]
By John Lee. The National Bank of Iraq (IBN) has seen an increase in net income after tax of 29 percent for quarter to the end of Septermber, compared with the same period in 2021. Parent company Capital Bank Group, based in Jordan, said net income after tax reached JD11.1 million [USD 15.7 million] by […]
By John Lee. Moody's Investors Service has assigned first time local currency long-term/short-term deposit ratings of B3/NP for National Bank of Iraq (NBI), and foreign currency long-term/short-term deposit rating of Caa1/NP. At the same time, the rating agency has assigned a Baseline Credit Assessment (BCA) of caa2, Adjusted BCA of b3, as well as long-term […]
By John Lee. Royal Jordanian Airlines and the National Bank of Iraq (NBI) have sealed an agreement to introduce the first co-branded credit card in Iraq under RJ's frequent flyer program "Royal Club". This co-branded credit card allows its holders the opportunity to earn additional miles on each payment when using the bank's credit card, […]
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. The market, as measured by the Rabee Securities RSISX USD Index, was up 2.4%, and 25.7% for the year. While 10 months do not make a year, […]
IFC, National Bank of Iraq Partner to Boost Access to Finance for SMEs, Create Jobs To support the growth of smaller businesses in Iraq and help them create jobs and overcome challenges, including from COVID-19-related disruptions, the International Finance Corporation (IFC) has announced an investment for the National Bank of Iraq (NBI). IFC's $10 million […]
SFD signs a $10 million export financing agreement with the National Bank of Iraq The Saudi Fund for Development (SFD) has signed an export financing agreement with the National Bank of Iraq (NBI), a subsidiary of the Capital Bank Group, to provide credit facilities worth $10 million to Iraqi importers who seek to import Saudi […]
From the Iraq Britain Business Council (IBBC): With four participants including Padraig O'Hannelly from Iraq Business News (IBN) who provides an overview of what's been happening in Iraq especially the price of oil and the benefit of simpler visa system: Wajdi AbouIzzeddine, Director of Operations (Iraq) of the DAR Group Amar Raouf, Director of Development […]
