By John Lee. Central Bank of Iraq (CBI) Governor Ali Mohsen Al-Alaq has met Bilal Al-Saghir, the International Finance Corporation's (IFC) Resident Representative in Iraq, to discuss strengthening bilateral relations, particularly in training Iraq's banking sector workforce. The parties intend to sign a Memorandum of Understanding on the matter in the coming period. They also […]
By John Lee. Central Bank of Iraq (CBI) Governor Ali Mohsen Al-Alaq and the CBI's specialist team have met with consultancy firm Oliver Wyman to review the Iraqi Private Banks League's comments on the national banking reform plan. The Governor confirmed that the CBI had completed an in-depth discussion, during which participants showed understanding of […]
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a meeting on Wednesday to review the legal framework governing the Development Road Project and its associated initiatives. The Prime Minister received a detailed briefing from the project team on legal and technical requirements, including construction standards and operational procedures. He emphasised the need to urgently […]
By Padraig O'Hannelly. Iraq is embarking on a comprehensive restructuring of its banking sector with the assistance of leading international consultancy firms, according to Dr Salih Salman, Advisor to the Iraqi Prime Minister, speaking at the Iraq Britain Business Council (IBBC) Spring Conference in London on Tuesday. The Iraqi government has appointed Ernst & Young […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired a high-level meeting with the heads of Iraqi banks on Monday, reaffirming his government's commitment to banking reform as a pillar of broader economic revitalisation. He directed all banks to simplify procedures, embrace modern technologies, and encourage public confidence by stimulating deposits. The Prime Minister announced […]
By John Lee. Iraq's Minister of Transport, Razzaq Muhaibas Al-Saadawi, chaired a meeting on Wednesday at the headquarters of the General Company for Iraqi Railways with representatives from Oliver Wyman, the consultancy firm providing financial advisory services for the Development Road Project. The meeting, attended by Dr. Maki Jabir Nasser, Director-General of the Iraqi Railways, […]
By John Lee. Prime Minister Mohammed Shia' Al-Sudani addressed the Conference on Reforming the Iraqi Banking Sector on Monday, outlining an ambitious agenda to modernise Iraq's financial infrastructure and promote sustainable economic development. Key initiatives and achievements highlighted in the Prime Minister's address include: Implementation of a three-year national budget, enabling long-term planning and strategic […]
By John Lee. The Central Bank of Iraq (CBI) has concluded its first quarterly meetings of 2025 with the US Treasury Department and the Federal Reserve Bank, held in Dubai, UAE, with participation from international auditing and consulting firms EY (Ernst & Young), K2 Integrity (K2i), and Oliver Wyman. Key highlights from the meetings included: […]
By John Lee. The Iraqi government, in collaboration with the Central Bank of Iraq (CBI), has launched a strategic initiative to modernise the country's banking sector. The reforms aim to enhance banking standards, strengthen financial resilience, and improve Iraq's integration with global financial systems. Key pillars of the initiative include: Governance and Ownership: Strengthening transparency […]
By John Lee. The Iraqi Ministry of Transport has announced increased interest from international companies in investing in Iraq's strategic transport initiatives. Aided by improved investment conditions and government policies, 2025 is expected to see exceptional foreign direct investment activity, according to the Ministry. Key opportunities include the Grand Faw Port project, with 11 shortlisted […]
By John Lee. Prime Minister Mohammed S. Al-Sudani participated this week in a financial forum held in London during his official visit to the United Kingdom. The event brought together major British financial institutions, representatives of the Iraqi private sector, and government officials from both nations. In his remarks, Prime Minister Al-Sudani emphasized the strategic […]
By John Lee. Prime Minister Mohammed S. Al-Sudani met with representatives from Oliver Wyman to review key principles of the economic model for the Development Road Project. Discussions highlighted competitive advantages and governance strategies, focusing on both short-term and long-term frameworks. The meeting emphasized aligning the project with global advancements in governance and Iraq's vision […]
