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1 month ago | 
iraq-businessnews.com | John Lee |Iraq Banking
By John Lee. The Central Bank of Iraq (CBI) has announced a new initiative to support clean energy solutions, aligning with global sustainability efforts and the environmental policies of central banks worldwide. As part of its renewable energy initiative, CBI will offer low-interest loans to local brick factories, enabling them to switch from high-pollution fuel (black oil) to cleaner liquefied gas (LPG).
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2 months ago | 
iraq-businessnews.com | Iraq Banking |John Lee
By John Lee. In line with directives from the Ministry of Finance and the Central Bank of Iraq (CBI), Al-Rafidain Bank has announced the launch of the first issuance of national bonds worth IQD 2 trillion [$1.5 billion]. The issuance period runs from February 10 to March 10, 2025. The bonds are available in two categories:IQD 500,000 bonds with a 6% annual interest rate, payable every six months, maturing in two years.
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2 months ago | 
iraq-businessnews.com | John Lee |Iraq Banking
By John Lee. Standard Chartered has successfully arranged a $95-million term loan for the Iraqi Ministry of Finance, supporting the supply of five electrical substations across northern and southern Iraq. The financing, backed by a 100% UK Export Finance (UKEF) guarantee, covers both political and commercial risks. The Ministry of Electricity will use the funds to procure equipment from the United Kingdom, strengthening Iraq's power infrastructure.
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2 months ago | 
iraq-businessnews.com | Iraq Banking |John Lee
S&P Affirms Iraq at 'B-/B'; Outlook Stable By John Lee. S&P Global Ratings has affirmed its 'B-' long-term and 'B' short-term foreign and local currency sovereign credit ratings on Iraq. "The outlook is stable," it added. More details, including economic stats, here. (Source: S&P Global Ratings)
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2 months ago | 
iraq-businessnews.com | John Lee |Iraq Banking
By on in Construction & Engineering In Iraq, Investment, Iraq Banking & Finance News, Iraq Industry & Trade News 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.
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2 months ago | 
iraq-businessnews.com | John Lee |Iraq Banking
By John Lee. Iraq's Central Organisation for Standardisation and Quality Control (COSQC) has opened its fourth unit for testing and hallmarking precious metals and imported gold at Kirkuk International Airport. The ceremony, led by Dr. Fayadh Mohammed Abdul-Dulaimi, COSQC President, was attended by key officials, including airport customs and border management representatives.
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Jan 24, 2025 | 
iraq-businessnews.com | Iraq Banking |John Lee
By John Lee. Prime Minister Mohammed S. Al-Sudani met this week with Fahd bin Mohammed Al-Turki, Chairman of the Arab Monetary Fund, to discuss closer collaboration. Strategic Partnership and Support: Iraq is committed to supporting the Arab Monetary Fund's activities, emphasizing its role as a founding member and major contributor to the Fund. Development Goals: The Iraqi Prime Minister stressed the importance of the Fund's contributions to Iraq's reconstruction and infrastructure development.
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Jan 23, 2025 | 
iraq-businessnews.com | John Lee |Iraq Banking
By John Lee. The Financial Action Task Force (FATF) has completed an assessment of Iraq's measures to combat money laundering and terrorist financing, and this week published its report. The assessment is a comprehensive review of the effectiveness of Iraq's measures to protect the financial system from abuse and its level of compliance with the FATF Recommendations, as at the date of the on-site visit from 6 to 23 August 2023.
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Jan 21, 2025 | 
iraq-businessnews.com | John Lee |Iraq Banking
By John Lee. Just a month ago, Iraq Business News ran an article examining the possible connection between support for Donald Trump and a belief in the Iraqi Dinar revaluation theory -- the idea that the Iraqi Dinar (IQD) will revalue ("RV") to as much as 1000 times its current value.
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Jan 18, 2025 | 
iraq-businessnews.com | Iraq Banking |John Lee
By on in Investment, Iraq Banking & Finance News 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 significance of his visit, marking a new phase in Iraq-UK relations.
