By John Lee. Rafidain Bank has been directed to launch employee loans, streamline application procedures, and expand financing for the private sector. Finance Minister Faleh Sari issued the instructions during a visit to the bank on Monday, where he chaired a meeting with Director General Dr. Ali Karim and senior officials. During the visit, Sari […]
By John Lee. Loans for contractors on residential units at the Bismayah housing project are to be released through Rafidain Bank, following an emergency meeting between the National Investment Commission (NIC) and the Ministry of Finance. NIC Chairman Adel Dakhil Muhammad al-Yasiri met with Finance Ministry Undersecretary Dr. Ali Karim Hussein on Thursday to resolve […]
By Matt Smith, for Arabian Gulf Business Insight (AGBI). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi Bank Reforms Could Open up Sector for Regional Investors Last month the Central Bank of Iraq said that seven previously restricted banks had been given […]
By John Lee. IQD 2.5 billion (USD 1.9 million) in cash has been found at the home of a former head of the accounts department in Salahadin Governorate, who is currently detained pending investigation. Six properties registered in the name of his wife were also identified at investment compounds. According to the Federal Commission of […]
By John Lee. Iraq's General Company for Building Materials Trading has launched a direct sales and instalment scheme under an initiative called "Al-Taaoun lil-Insha'iya" (Cooperation for Construction), allowing state employees and retirees to purchase building materials, furniture, and household electrical appliances on instalment terms of up to 15 months, with no guarantor or down payment […]
By John Lee. Iraq's Supreme Judicial Council (SJC) has issued a clarification on ongoing proceedings related to a large-scale tax deposit fraud case, detailing convictions, asset seizures, and efforts to recover public funds. According to the SJC, foreign companies operating in Iraq are required to deposit five percent of a project's value with the General […]
By Andrew Cunningham, for Arabian Gulf Business Insight (AGBI). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's central bank governor cannot fight crime on his own On June 19, the Financial Action Task Force (FATF) placed Iraq on its grey list, subjecting […]
By John Lee. Iraq's Federal Commission of Integrity has disrupted an attempt to fraudulently obtain nearly IQD 1.5 trillion (USD 1.1 billion) from two state-owned banks in Baghdad. A field team from the commission's Baghdad Investigations Directorate, working in coordination with judicial authorities, apprehended three suspects at the headquarters of Rafidain Bank. The suspects were […]
By John Lee. Rasheed Bank has been authorised to contract Ernst & Young (EY) to carry out financial and banking audit and oversight work, as part of Iraq's banking sector reform programme. The decision was approved on Tuesday during a regular session of the Council of Ministers chaired by Prime Minister Mohammed Shia Al-Sudani. The […]
By John Lee. State-owned Rafidain Bank has launched the 59th round of its "Leadership and Excellence" initiative to support small and medium-sized enterprises (SMEs). According to the bank, the new round allocates a total of IQD 1 billion (approximately $763,000) to 93 beneficiaries. The programme forms part of the entrepreneurship financing initiative supported by the Central […]
By John Lee. Rafidain Bank recorded more than IQD 841 billion (approximately USD 641.98 million) in electronic collection settlements on behalf of government entities during January 2026, reflecting continued expansion of digital payment systems. The bank said a total of 73,226 electronic settlements were processed the month, indicating growing adoption of digital collection services. It […]
From Shafaq. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Liquidity shortfall freezes lending at Iraq's state banks Government lending programs remained suspended on Thursday as Iraq's state-owned banks, most notably Rafidain Bank and Rasheed Bank, continued to halt advances and loans due to […]
