By John Lee. Iraq's Council of Ministers has approved revised purchase prices for wheat and a procurement plan for high-grade seeds for the 2025-2026 agricultural season, according to an official government statement. The approved wheat purchase prices are as follows: IQD 700,000 per tonne (approximately USD 534) for quantities within the agricultural plan IQD 500,000 […]
By John Lee. Prime Minister Mohammed Shia' Al-Sudani chaired a special meeting on the Sovereign Guarantees Initiative, attended by the Minister of Finance, the Director General of Public Debt at the Ministry, the Head of the Sovereign Guarantees Committee, the President of the Trade Bank of Iraq (TBI), and a number of advisers. The meeting […]
By John Lee. Prime Minister Mohammed Shia' Al-Sudani has received representatives from KPMG, the global auditing and financial advisory firm, to review ongoing cooperation with Iraq's banking sector as part of the government's efforts to enhance transparency and improve the country's financial reputation. The Prime Minister affirmed that Iraq's banking reform programme has become a […]
By John Lee. The Iraqi Cabinet has approved a mechanism to address the outstanding dues of companies investing in the electricity sector. The decision authorises the Trade Bank of Iraq (TBI) to take the necessary steps to purchase debts owed to investment companies against amounts due from the Ministry of Electricity. The State Oil Marketing […]
By John Lee. Prime Minister Mohammed Shia' Al-Sudani on Sunday oversaw the signing of the Articles of Incorporation for the National Mobile Telecommunications Company (NMTC), a public joint-stock company established under the government programme. The new entity brings together three contributors: the State Employees' Pension Fund, Trade Bank of Iraq (TBI), and Al-Salam General Company […]
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. Ashur International Bank has joined the Iraq Britain Business Council (IBBC). According to a statement from the IBBC, the move follows a long relationship between the Council and the bank's CEO, Mohammed Al-Delaimy. It says the bank, established in 2005 is one of the leading private banks in Iraq, offering comprehensive banking […]
By John Lee. The Trade Bank of Iraq (TBI) has been awarded the "STP Excellence in Payments and Transfers" award from JP Morgan, recognizing the bank's commitment to efficient and sustainable direct payment practices. According to a statement from TBI, the award highlights its high efficiency in processing financial transactions, particularly in direct financial transfers […]
By John Lee. Iraq's Council of Ministers has approved the formation of a new private limited company focused on energy sector investments, with an initial capital of 250 billion Iraqi dinars (approximately $190 million), subject to increase. The founding stakeholders include the State Employee Pension Fund and the Trade Bank of Iraq (TBI), while the […]
By John Lee. Iraq's Council of Ministers has approved the establishment of the National Mobile Telecommunications Company (NMTC), which will operate Iraq's 5G national license in cooperation with UK's Vodafone Group. The initiative aims to develop the telecommunications sector, maximize revenues, and implement the government program. The new company will be a private limited entity […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, participated in the Iraq Energy 2025 Conference in Baghdad, organised by the Iraq Development Platform. During a panel discussion, the Governor highlighted the CBI's adoption of non-traditional monetary policies aimed at economic stability. He emphasised the bank's role in financing […]
By John Lee. A ceremony in London marked the signing of several Memorandums of Understanding (MoUs) between Iraqi public and private sector entities and British companies and institutions. The event was attended by senior Iraqi officials, including Deputy Prime Ministers, the Minister of Foreign Affairs, and the Minister of Oil. Key agreements included: A Memorandum […]
