By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq plans to increase the combined capital of the only two governmental banks in the country, from about $23 million currently to about $360 million next year. Deputies in parliament say that […]
The Iraqi government has decided to allocate $21 billion USD (25 trillion IQD) to implement the Rashid Housing project. AKnews reports that the preliminary negotiations with the UAE-based contractor, Maabar, are completed, and the final contract will be signed by the end of 2011. Rashid Barracks in Baghdad were used by the former Iraqi army […]
Reuters reports that it's a tough road ahead for Iraqi private banks required to raise their capital to boost business as they battle against decades of state dominance to win a slice of the asset base from government-run enterprises. It blames a poor credit culture, the lack of a modern banking system, and the dominance […]
Overview Levels of violence rose considerably in Iraq last week, making it the worst week so far this year. A spate of bombings in Baghdad, Mosul and Kirkuk left dozens of people dead and injured. The police and military suffered the majority of attacks, but Iraqi oil workers, US soldiers and even three European civilian […]
The Central Bank of Iraq (CBI) said on Friday that the performance of private banks is better than the performance of state-owned banks, indicating that the lack of restrictions and bureaucracy in private banks gave them a competitive advantage. Muzher Mouhammed Saleh, the chancellor of the CBI, told AKnews: "The future in Iraq will be […]
