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Category: Iraq Business News

Foreign Investment and current security situation in Iraq

Foreign Investment and current security situation in Iraq

A large number of international companies have realized the feasibility and importance of investment in the Iraqi markets. It satisfied them to enter into bilateral partnerships to expand their work in advancing the services provided to live up to the global performance. The region’s leading video-to-demand viewing service, STARZPLAY has announced a new partnership with Asiacell Iraq, the leading provider of high-quality mobile and Internet services in Iraq with a subscriber base of over 14 million subscribers. The STARZPLAY platform…

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The Iraqi Deposit Guarantee Company launched to protect Iraqi Citizens

The Iraqi Deposit Guarantee Company launched to protect Iraqi Citizens

The establishment of the Iraqi Deposit Guarantee Company to guarantee deposits announced in Baghdad last week. The Iraqi Deposit Guarantee Company launched after years of the collapse of some private banks and stand in the way of the development of the banking sector. It has a number of dealers with 22% of adults after the project to localize the salaries of state employees. There were several banks collapsed in Iraq in the years that followed the year 2003, including Al-Warka,…

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Central Bank of Iraq directed Iraqi Banks to provide Mobile Phone Banking Services

Central Bank of Iraq directed Iraqi Banks to provide Mobile Phone Banking Services

On Monday, the Iraqi Central Bank has directed all banks operating in Iraqi to provide services via mobile phone. The CBI said in a statement that the Bank has directed all licensed banks to provide mobile banking in light of the bank’s strategy to achieve financial inclusion. It will improve digital banking services and modern technologies in order to ensure these services are easily accessible to various segments of society. The statement also said this service ensures the facilitation of…

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Investment Opportunities and Security Situation in Iraq

Investment Opportunities and Security Situation in Iraq

A member of the Iraqi Parliamentary Economic and Investment Committee, Riaz Al-Tamimi issued a statement. Al-Tamimi said the international investment weakness is due to poor security and economic condition in the country. He said in a statement that a number of countries and international companies have shown their desire to enter the Iraqi market and investment in all fields. Al-Tamimi added that there are a number of factors but one of the major reasons is the security instability in some…

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More than 80 Greek Companies are Preparing to Invest in Iraq

More than 80 Greek Companies are Preparing to Invest in Iraq

An important meeting held between the head of the Baghdad Chamber of Commerce Jafar al-Hamdani and the Greed ambassador to Iraq. The Greek ambassador announced that 80 Greek companies are preparing to visit Baghdad in October. Their main objective is to participate in the Iraqi development sector and invest in Iraqi markets. Al-Hamdani welcomed the ambassador and expressed his thanks and gratitude for the visit. He also stressed the depth of the Iraqi-Greek economic relations during the meeting. Al-Hamdani said,…

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Iraq and Saudi Arabia signed 13 MOUs and Agreements

Iraq and Saudi Arabia signed 13 MOUs and Agreements

The Iraqi Prime Minister Adel Abdul Mahdi and King Salman bin Abdul Aziz arranged a meeting at the Royal Palace in Riyadh. The meeting took place for the Joint High Coordination Committee Agreements and the MOU (memorandums of understanding). Abdul Mahdi said, “Saudi Arabia is a neighbor, a brotherly and developed country, and Iraq’s openness to Saudi Arabia serves the interests of both countries and peoples. Iraq is a country rich in human and natural wealth, but it has been…

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Rafidain Bank’s investment projects including 5 Schools in Each Province and Baghdad Metro

Rafidain Bank’s investment projects including 5 Schools in Each Province and Baghdad Metro

Rafidain Bank has announced the financing of a number of large investments in service projects. These projects include Metro Baghdad amounted at 5 trillion Iraqi dinars. The Bank also announced a number of major laboratories in the country in collaboration with government banks under the supervision of Iraqi Central Bank. The director of Rafidain Bank, Khawla Talib Al-Asadi issued a press statement that the Central Bank of Iraq has adopted a project in providing offers by all government banks. The…

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Historic Agreements at the End of Iraqi-Saudi Coordination Council Meeting

Historic Agreements at the End of Iraqi-Saudi Coordination Council Meeting

The General Secretariat of the Iraqi Council of Ministers issued a statement that a number of agreements have signed at the end of Iraqi-Saudi Coordinating Council meeting. These agreements were related to investment, banking, trade, security, and tourism. Saudi Arabia has delivered a list of 891 items of its products amid of reducing or exempting from customs duties. The Secretariat said in a statement that they also offered a proposal to open a free zone in Arar port after opening…

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