Central Bank discusses Increasing the Value of the Iraqi Dinar
Mar 14, 2024 · By John Lee. On Thursday, Iraq's Finance Committee, chaired by Atwan Al-Atwani, convened with its members and the Governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, to discuss monetary policy, the banking system, and methods to increase the value of the Iraqi dinar.. Al-Atwani stressed the importance of monitoring the economic file and monetary …
Iraq Warns Forex Companies over Dollar/Dinar Commissions
Sep 30, 2024 · By John Lee. The Central Bank of Iraq (CBI) has identified irregularities in the operations of several exchange companies regarding the sale of U.S. dollars allocated to travellers.. A recent audit and monitoring of company practices revealed that some exchange firms have been charging citizens a commission of 50,000 dinars for purchasing dollars, …
Latest Iraqi Business News
By John Lee. Iraq's National Development Plan (NDP) 2024-2028 has finally been released. The plan was a collaboration between the United Nations Development Programme (UNDP) and Iraq's Ministry of Planning with the support of the United States …
Iraq Partners with Vodafone for Govt-Owned 5G Network
Dec 4, 2024 · By John Lee. The Iraqi Ministry of Communications has signed an agreement with UK's Vodafone to establish a new 5G telecommunications network fully owned by Iraq. The agreement outlines Vodafone's role in preparing the network for launch, providing expertise in network design, commercial strategies, and business growth planning. A memorandum of …
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Iraq's Basra Steel Plant Set for Year-End Launch
Nov 7, 2024 · By John Lee. Iraq's Minister of Industry and Minerals, Dr. Khaled Battal Al-Najm, supervised final preparations for the Basra steel plant, expected to begin operations by the end of this year. During his on-site visit, the minister oversaw the plant's final cold start-up phases, which utilize advanced technology from Italy's Danieli Group for steel and
Iraq introduces new Euro-Based Transfer Mechanism
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, met with Turkish Ambassador Anil Bora Inan and representatives of Turkish banks operating in Iraq to discuss a newly implemented financial transfer mechanism.. The new system, which operates in euros and is executed through Turkish banks, aims to streamline and expedite trade-related …
Iraq Signs 3 New Private Sector Partnerships
By John Lee. Iraq's Prime Minister, Mohammed Shia' Al-Sudani, emphasized the importance of private sector partnerships to reduce reliance on imports and meet domestic industrial needs. On Thursday, Al-Sudani oversaw the signing of three industrial contracts with private companies to boost production in the fertilizer and chemical sectors: A 1 million ton/year urea fertilizer plant
Mapping the Role of FinTech in Iraq | Iraq Business News
By John Lee. Makers of Baghdad, an innovation hub and maker space, has produced a report exploring the impact of financial technology on economic growth, inclusion, and innovation in Iraq.. Mapping the Role of FinTech in Iraq finds that the financial landscape in Iraq is undergoing a significant transformation, largely driven by the rise of financial technology.
IMF: Fiscal Expansion to Boost Growth in Iraq (FULL REPORT)
By John Lee. The International Monetary Fund (IMF) has issued a detailed report on the Iraqi economy.. The following key points were highlighted: Improved Domestic Stability: Since the new government took office in October 2022, Iraq has experienced improved domestic stability. This facilitated the passage of its first three-year budget, which led to a large fiscal expansion …