Category: Investment

Iraq to sell new USD Govt Bonds

By John Lee.

The Financial Times reports that Iraq has appointed Citi, Deutsche Bank and JP Morgan as joint bookrunners for a new five-year government bond.

The issue is described as a dollar-denominated, long-dated, benchmark-scale bond; investor meetings scheduled over the coming days.

In January, Iraq raised $1 billion of five-year bonds, guaranteed by the US, at a coupon of 2.149 percent.

(Source: Financial Times)

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IDRO Eyes Cooperation with Iraq in Energy, Industry

The Industries Development and Renovation Organization of Iran (IDRO) is ready to cooperate and collaborate with the neighboring Iraq in the field of energy, renovation of industries and training managers.

Chief Executive Mansour Mo’azami announced the above statement in his meeting with the visiting Iraqi Minister of Industries Mohammed Shia Al Sudani.

The two sides exchanged views in the field of enhancing and strengthening bilateral ties, the Public Relations Dept. of IDRO reported.

While congratulating the liberation of Iraqi Mosul city, CEO of IDRO said:

“Iraq is a strategic friend to us and for this purpose, we have voiced our readiness to enhance cooperation with this country in various fields especially industrial and investment sectors.”

He pointed to the Industrial Management Institute (IMI) and said:

“With more than 60 years of fruitful experience, IMI is equipped with training and educating relevant managers in the best form possible.”

Given the above issue, IDRO enjoys high capability in training Iraqi managers and industrialists, he opined.

In addition, IDRO is ready to invest in oil, gas, petrochemical, downstream, upstream, shipbuilding, auto manufacturing and car parts production sectors in neighboring Iraq, he emphasized.

In the end, IDRO senior official urged to set up a joint Working Group by the two sides in the field of strengthening bilateral ties.

For his part, Iraqi Minister of Industries pointed to the high interest of Iraqi side to follow up matters of mutual concerns and said:

“We will study these proposals in an expert-level session meticulously in line with solving pertinent problems facing the two countries.”

It should be noted that the visiting Iraqi delegation, comprised of Iraqi minister of industries, his deputies, managers of public and private companies, met with the Iranian Minister of Industry, Mine and Trade Eng. Ne’matzadeh and also visited Shamsabad Industrial Park.

(Source: IDRO)

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New UK Ambassador to Iraq

By John Lee.

Mr Jon Wilks CMG (pictured) has been appointed Her Majesty’s Ambassador to the Republic of Iraq in succession to Mr Frank Baker OBE.

Mr Wilks, who currently serves as Her Majesty’s Ambassador to Muscat, will take up his appointment in November 2017.

He has previously served in diplomatic roles in Baghdad, in addition to Syria, Saudi Arabia and the United Arab Emirates (UAE).

(Source: UK FCO)

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Iraqi Dinar Guru opinions 7-26-17

Iraqi Dinar Guru opinions 7-26-17 7-26-2017 Newshound Guru Aggiedad77 “The Council of Ministers authorizes Araji to sign the investment project between Iraq and America Protection Convention” …that be UUUUUUGGGGGGEEEEEE news …protection of investments between Iraq and the US…can you spell Trump DEALS on this…IMO…this is yet another step they are showing us in just how […]

Kurdistan: Baghdad put obstacles in receiving loans from the World Bank

Kurdistan: Baghdad put obstacles in receiving loans from the World Bank


Erbil/Iraq news network-
planning Ministry in Kurdistan Regional Government, said Tuesday that the Iraqi Government put obstacles in the territory received loans from the World Bank.
Al-Sindi said during a joint meeting with representatives of the World Bank, today, he’s under the $500 million spent by the World Bank to implement investment projects in Iraq,

the Ministry for more than a year to prepare a list of important projects in accordance with the standards of the World Bank in order to allocate the funds and then implemented, but if Baghdad does not grant the territory its share of those loans.

Sindi noted that after the war "ISIS" and the financial crisis left more than 4, 000 project in Kurdistan dysfunctional and is not updated, the Ministry always endeavoured to provide financial resources through foreign loans to revive Projets and urgency, but the Iraqi Government is hampering the arrival of those loans to the territory, he said.

As the same-Sindi said in the meeting that the representatives of the territory participated in meetings of the World Bank and Iraqi officials, but that so far there are obstacles and barriers by the Iraqi Government prevented those loans for Kurdistan.…5%D8%A7%D9%85/

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IBBC Networking Reception in Dubai

On Tuesday 1 August, 2017, the Iraq Britain Business Council (IBBC) will hold its first networking event in Dubai.

The event follows the appointment of Vikas Handa (pictured) as IBBC UAE representative. Vikas intends to host regular networking events in the UAE for IBBC members and companies that are interested in working in Iraq.

Since last year IBBC has committed itself to have a stronger presence in the UAE which is generally seen as the major platform for international business operating in Iraq.

IBBC participated in ADIPEC in 2016 and successfully organised its first conference in Dubai in December of the same year. The organisation is now set to further expand its activities in the United Arab Emirates to bolster trade with Iraq at this crucial time for the country and the wider region.

The event will be held at the Dubai World Trade Centre. It is sponsored by Amec Foster Wheeler and several IBBC members, including Petronas and BP, will make informal comments about their operations in Iraq. IBBC Deputy Chairman and Iraq Representative, Mr Rasmi Al Jabri and IBBC Managing Director, Mr Christophe Michels, will be in attendance.

Companies that are not part of IBBC but would like to learn more about business opportunities in Iraq can register their interest in attending this event by emailing

(Source: IBBC)

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Increase the capital of the Central Bank to one trillion dinars

Increase the capital of the Central Bank to one trillion dinars

24/7/2017 12:00 AM

Baghdad / Farah Al-Khafaf As
part of the state’s efforts to keep abreast of global economic development, the Council of Ministers and MPs are working on amendments to the Central Bank of Iraq law.

This comes at a time when an economist praised the new amendments, which he pointed out that it will be radical and important and will develop the Iraqi money market.

According to a copy of the draft law, "Al-Sabah" obtained a copy of it, the new law aims to "increase the capital of the Central Bank of Iraq and to keep pace with global economic development and grant powers to the bank and increase the number of members of the Board of Directors of the bank from outside the bank and the formation of a committee to audit and issue commemorative coins and impose interest on Loans granted by the bank to commercial banks and the preservation of its funds from bookings issued by judicial decisions. "

The law stipulates that "the capital of the Central Bank of Iraq shall be one trillion dinars fully owned by the State.

" Reserve management allows the new law that " the Central Bank of Iraq will hold deals on foreign assets and manages the official foreign exchange reserves of the state according to international best practices and the objectives of monetary policy,

as the Board may invest such a reserve in gold located in the Iraqi Central Bank coffers cash, currencies Foreign currency and cash equivalents that are normally used in the performance of international accounts held by the CBI or for its account,

credit balances payable on demand or payable after a short period in foreign exchange normally Used in the performance of international accounts maintained by the Central Bank of Iraq in its accounts or those that invest through repurchase agreements, repurchase and fixed deposits for multiple periods.

Full trust in addition to the special drawing rights available to the Iraq Account of the International Monetary Fund, the status of Iraq’s reserve with the International Monetary Fund, as well as any tradable debt securities issued by or fully trustworthy and approved by foreign governments,

central banks or international financial institutions, authorities and agencies local and foreign , which are paid in foreign currencies , which are usually used in the performance of international accounts maintained by the Central Bank of Iraq or for his account.

" investment portfolio also allows the bill to the bank , " the use of financial derivatives in investment portfolios Of as a tool to hedge, and the issuance of coins commemorative non-negotiable, and that the Central Bank of Iraq chooses the approval of the Minister of Finance ,

an international company based external audit and financial audit for a period of five (5) years, and may not be repeated selected periods in a row of more than (10) ten years. " Development work and sees economic expert Rahim Shammari told the "morning" that " the legislation of these amendments will contribute to the development of the Bank ‘s work, allowing greater freedom of the money after the capital increase."

He pointed out that "these amendments are the second after the issuance of the law of the Bank issued by Order No. (56) for 2004 on the Coalition Provisional Authority (dissolved)," noting that "the Iraqi Central Bank succeeded during the past period in maintaining the exchange rate of the Iraqi dinar, A good thing about Iraq’s financial stock.

" New products Shammari expressed "optimism about the next phase, especially with the intention of the bank to develop its work by adopting new products."

The governor of the Central Bank Ali al-Alaq had stressed that Iraq has passed the difficult stage «pessimistic» that has passed during the past two years and accompanied by statements are not based on facts that raised terror in the Iraqi street.

The exchange rate of the bank, which is a "safety valve" for the economy and monetary policy of the country, the inflation rate did not exceed 2 percent, while the dinar maintained a stable exchange rate at acceptable limits despite the challenges,

in addition to the index raised the interest of global institutions supporting, The Central Bank has raised the IMF’s expectations by 10 billion dollars despite the exceptional circumstances that the country is undergoing.

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Planning: Iraq is on the stage of investment and development

Planning: Iraq is on the stage of investment and development 2017-07-23 at 09:58 (Baghdad time) Baghdad Mawazine News Minister of Planning Salman Jumaili said on Sunday that Iraq is on the stage of investment and development is significant, and this is evidenced by the great interest shown by countries and international companies to enter the […]

Minister of planning: Iraq kissed on stage a big developmental regimes and

Minister of planning: Iraq kissed on stage a big developmental regimes and


Baghdad/Iraq News Network-
Planning Minister, Commerce Secretary Salman jumaili Agency, said Sunday that a future Iraq investment and development stage with large pointed to the great interest shown by States and international companies to enter the Iraqi investment environment.

llgmili said today: "the Minister and his entourage met with the head of the American Chamber of Commerce and a large number of businessmen and traders and directors of major companies in Washington, DC." the meeting marked to discuss a number of important issues in the forefront of the post-victory and defeat Terrorism

and the appropriate mechanisms to launch the reconstruction process through the international community sivdmh support for Iraq to enable it to meet the requirements of the reconstruction of the liberated areas.

"the statement pointed out that" this represents an important investment opportunity should be invested more than ever at a time when Iraq is on the cusp of a new stage is to defeat terrorism and to free the land and begin the process of reconstruction and construction.

"he said jumaili as theThe Planning Department completed the reconstruction and development plan for areas affected by terrorist acts over the next ten years ", noting that" this plan is linked to the five-year development plan (2018-2022) and (2023-2027).

"and the statement that" the Iraqi Government is working on facilitating business environment in Iraq commensurate with the international environment and promote global business heads to access country.

"from their side businessmen and investors and corporate managers of America the desire and willingness to invest and work in Iraq, stressing" the importance of developing economic relations And trade and investment between the two countries

and overcome all difficulties and obstacles that would impede cooperation especially with the desire and willingness of both Governments to move forward in developing those relationships. "

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Opportunities are coming

Opportunities are coming

23/7/2017 12:00 AM

Economists, businessmen and businessmen consider that the next phase of the richest investment opportunities that the international companies are looking for in relation to the construction and reconstruction of
is the same, but it is natural that the requirements of achieving this goal requires large sums of money to absorb its implementation.

Because it has huge money, modern technology and the required benefit, but there are challenges and outstanding effects that hinder the entry of these companies with large sums of money. What is required for this

That Iraq’s need for funds is greater than we imagine to cover the reconstruction and reconstruction due to the infrastructure suffered from the total destruction and strategic projects of disruption and decline.

Therefore, the Iraqi banking sector in general has rich opportunities to contribute to the implementation of these projects in various ways through funding, partnership or
direct implementation .

But since the capital of private banks is weak compared to the requirements of financing construction and reconstruction, what is the solution to this

In a press interview with the banking expert Faisal Al-Hims, I asked him about his evaluation of banking performance. He said: "Let’s evaluate now.

Let the question be what is required of the banking sector in the next stage

Said: The right way for banks to provide the requirements of the next phase is the integration of banking to raise the amount of funds capable of meeting the requirements of the
executing companies .

And should be aware of the banks to the seriousness of dependence on the only product is the currency window, which may end its mission in the next stage, what will private banks do

Then it is now necessary to think about looking for a profitable and successful investment that can not be achieved without
banking integration .

Added to the opinion of the banking expert why fear of banking integration, they noted that the major Gulf banks are merged to raise their capital to meet the challenges
and risks.

What is needed is to leave the bureaucratic view of dealing with banking and to turn to the real interest embodied in good governance and rewarding partnership.

is the advice of the experts in order to promote the banking sector again with the clear letters of correspondent banks to the requirements of attracting money and companies.

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