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Tag: Iraq Banking sector

Iraq Should Take Major Steps to Manage Economic Crisis: IMF

Iraq Should Take Major Steps to Manage Economic Crisis: IMF

The Iraqi economy is mainly dependent on the growth of Iraqi oil production. The growth rate of Iraqi oil exports has been increased and it is showing an image of the available opportunities towards the development of Iraqi economy. Iraqi economy is improving significantly and most of the economic experts predicted that Iraqi economy would get a place in the list of global economies very soon. The Head of IMF mission Mr. Sider Alevic said in an interview pointing out…

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CBI Announced Date for Auction Sales of Foreign Currency

CBI Announced Date for Auction Sales of Foreign Currency

The Iraqi Central Bank issued a press statement that Central Bank would start next live auction sales of foreign currency on 4th August 2015. According to our authentic source from the Central Bank said that next session for the auction sales of foreign currencies will take place in the first quarter of the next month according to defined plan by the Central Bank. Source further added that we are expecting that maximum companies will participate including some government agencies will…

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Iraq is Improving its Negotiators Skills to Enter the World Trade Organization

Iraq is Improving its Negotiators Skills to Enter the World Trade Organization

On Tuesday, the Iraqi Trade Minister met with a U.S embassy delegation in Baghdad to discuss on the development process about the expertise of the Iraqi negotiators to join the World Trade Organization (WTO). The Trade Ministry issued a statement that the Director General of economic department and trade relations in the Ministry of Commerce Hashim Muhammad Hatem arranged a meeting today at the U.S Embassy in Baghdad with the Deputy Economic Counselor Stephen oil. They talked about relations between…

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Establishing New Islamic Banks to Increase Investment: Finance Committee

Establishing New Islamic Banks to Increase Investment: Finance Committee

On Monday, the Iraqi Parliamentary Economic and Investment Commission issued a statement that the establishing new banks would improve the investment process in Iraq. Point to be noted that the Iraqi government is ready to allow anyone who needs to establish an Islamic bank. A member of the Parliamentary Economic and Investment Commission Najiba Najib issued a press statement that increasing the number of Islamic banks would help in financing major and large-scale projects. It would also give assurance to…

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Global Market to Receive Bonds Launched By Iraqi Government

Global Market to Receive Bonds Launched By Iraqi Government

On Friday, the Central Bank’s Board of Directors member Majid issued a statement that the international market is able to adopt bonds that the Iraqi government has planned to launch this year. Point to be noted that according to the financial point of view, the international status of Iraq is much better despite the entire current situation and environment, and the commitment of the Iraqi government to pay all debts suffered by the country. He further added that this objective…

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50K and 100K New Iraqi Bank Notes Launching Date Announced

50K and 100K New Iraqi Bank Notes Launching Date Announced

On Thursday, a member of the Iraqi Parliamentary Finance Committee Najiba Najib has announced that the 50 thousand dinars category bank notes will be available in the market in this current month. She further said in a statement that the Iraqi Central Bank would also launch the new category of 50 thousand dinars coin in the market in this current month and it can be delayed, but it will be in the market before mid of August 2015 after completing…

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Iraqi Government Not to Interfere in the Work of CBI: Saleh

Iraqi Government Not to Interfere in the Work of CBI: Saleh

The Economic Adviser to the Iraqi Prime Minister Muhammad Saleh issued a statement that the Iraqi Central Bank has taken a number of steps to stabilize the Iraqi dinar exchange rate and to maintain the hard cash reserves with positive steps and it is called as non-interference in the work of the Iraqi Central Bank and to maintain the independency of CBI. Muhammad Saleh further said in his press statement that the Article 50 of the Iraqi budget law 2015…

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CBI Cancelled its 8% Tax and Customs on Buying U.S Dollars: Central Bank of Iraq

CBI Cancelled its 8% Tax and Customs on Buying U.S Dollars: Central Bank of Iraq

On Saturday, the Iraqi Central Bank has announced that the monetary policy of the CBI would not be able to maintain and stabilize the exchange rate of the U.S dollar against the Iraqi dinar. At the other hand, government of Iraq stressed to control the border and manage the track of money that moves out from the country and to manage the combine moves against financial and economic crimes. The Board member of Iraqi Central Bank, Majid further said in…

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