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Tag: private banks

Iraq experienced loss of at least 1.5 Billion U.S dollars due to the Internet Interruption

Iraq experienced loss of at least 1.5 Billion U.S dollars due to the Internet Interruption

A source in the Iraqi Central Bank has indicated the financial loss in the Iraqi electronic and tourism sectors. The financial loss in major sectors exceeded 1.5 billion U.S dollars due to the interruption of the Internet service. The source also informed that the private sector had been hit by the Internet shutdown imposed by the government to handle demonstrations in the country. It was said that Iraqi private banks recorded losses of more than 16 million U.S dollars per…

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Central Bank of Iraq issued a New Circular for Private Banks

Central Bank of Iraq issued a New Circular for Private Banks

The Iraqi Central Bank issued a report and indicated that some commercial banks Iraq don’t have sufficient investment. The report pointed out that some letters of guarantee have shown generosity of relatives and friends. The magnitude of investments among the total assets in the Iraqi commercial banks is just 8%. The report also said that some of the commercial banks operating in Iraq don’t have an essential amount of investment. It was said that the monetary assets of commercial banks…

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CBI will Distribute Trillion Dinars to Iraqi Private Banks: Saleh

CBI will Distribute Trillion Dinars to Iraqi Private Banks: Saleh

The Economic adviser to the Iraqi Prime Minister Haider Al-Abadi, Muhammad Saleh issued a statement that the Central Bank of Iraq has planned for issuance trillion dinars of loans to governmental and private banks. Saleh delivered his words in a press statement that the Iraqi Central Bank will distribute loans estimated in trillion Iraqi dinars to private banks having capability to control and manage it. He further added that this loan will be used for small, medium and enterprise level…

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Action Against Money Laundering to Raise Private Banks Confidence

Action Against Money Laundering to Raise Private Banks Confidence

Iraqi Dinar 123 News:– On Wednesday, the association of private Iraqi Banks confirmed that the implementing of the Act of money laundering would provide confidence to the private banks globally. The head of the private banks association issued a statement that the draft of Anti-Money Laundering Act and financing the terrorism are the most important laws that would support the Iraqi banking sector, and it should be approved by the council of the ministers. Point to be noted that this…

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CBI to Launch One Trillion Dinars for Private Banks

CBI to Launch One Trillion Dinars for Private Banks

On Tuesday, the Iraqi Central Bank clear-cut announced that they are ready to dispatch an amount of trillion Iraqi dinars to the Iraqi private banks. According to the statement issued by the Iraqi Central Bank that CBI board of Directors have declared to enhance the shares of the U.S dollars sale and foreign transfers for banking companies. They also decided to minimize the time period for implementation for foreign funds transferring. It is also said that the Council emphasized on…

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ISIS Opens Private Bank For Loans And Damaged Currency Redemption in Mosul

ISIS Opens Private Bank For Loans And Damaged Currency Redemption in Mosul

Iraqi Dinar 123 News:– The ISIS or Islamic State in Iraq and Syria has announced that they have opened their own bank in the City of Mosul to provide loans and to compensate for mangled currency, in order to financing and to raise the business for terrorist organizations. According to a website ‘Russia Today’, the ISIS has opened a private bank for providing grants and loans to restore marred currency; it also added that it might be an ISIS plan…

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Role of Iraqi Private Banks in The Completion of Projects

Role of Iraqi Private Banks in The Completion of Projects

Iraqi Dinar 123 News:– Hadi Hndas said in an interview that all the resources have been provided for the implementation of a new lending model targets to overcome the funding problems which stopped the most of the production and service projects. According to the economic experts in financial affairs, demanding the over-esteeming in activating the Iraqi private banks association. Hndas also stressed that resources have been allocated to achieve the economic feasibility; the private banks in Iraq should perform their…

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CBI to Support Banks and The Government

CBI to Support Banks and The Government

Iraqi Dinar 123 News:– The country has been facing a lot of problems since quite some time now and it is high time that the government and the private sectors understand the issues that they face. It is important that the Finance Committee decides something for a better financial condition of the country. The Central Bank of Iraq advised that the government and the private banks should see the different problems that are being faced by the country and avoid…

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