Iraq
New law governing the Central Bank of Iraq
Ambassador L. Paul Bremer, Administrator of the Coalition Provisional Authority, announced on Sunday 7 March the issuance of a new law governing the Central Bank of Iraq.
Interview: Central Bank of Iraq's Chief Economist
In an interview Mudhir Kasim said that Iraq's central bank published official statistics for the first time in 26 years on Tuesday (17 Feb). "This is the first central bank bulletin since time immemorial. The information we produced before was secret,"…
Iraq's botched currency reform
Prescriptions by the official sector institutions for Iraq ignore political realities and their own findings argue Steve Hanke and Matt Sekerke.
What monetary regime for Iraq?
This article, co-authored by Professor Steve Hanke and Matt Sekerke, says that the choice of monetary regime for Iraq remains wide open despite measures to establish an independent central bank, framework for bank regulation, and Saddam-free bank notes.
IMF officials to meet Iraqi finance chiefs
Iraq's finance minister and central bank governor are to meet officials at the International Monetary Fund after attending a Group of Seven meeting in Boca Raton, Florida.
Iraq to talk debt with G-7 and IMF
Top finance officials from Iraq and Afghanistan will meet next month with their counterparts from the G7 industrial countries and Russia to report on progress in reconstruction.
Saddam notes cease to be legal tender
Bank notes printed with the face of Saddam Hussein have ceased to be legal tender in Iraq, removing another memory of the former dictator.
Mosul Central Bank rebuilding begins
Work has begun to rebuild Mosul Central Bank, destroyed in the Iraq war.
IMF met Iraqi officials on rebuilding central bank
Agustin Carstens, IMF Deputy Managing Director, said on Friday 12 December thatthe IMF was working with Iraqi finance officials in Jordan to help with the rebuilding of the central bank and was providing technical assistance, according to Reuters.
Iraq cb to issue licences to foreign banks
The central bank of Iraq is to award licences in December allowing a maximum of six banks to operate in Iraq. Central bank deputy Ahmad Salman Mohammed said "Foreign banks will bring in capital, train people, provide jobs, modernise banking services and…
Baghdad's central bankers come under fire
Staff at the central bank of Iraq were evacuated on Monday 17 November while a rocket that landed close to the bank was defused, according to a report by AFP. The centre of Baghdad came under intense fire on Sunday with a report saying the central bank…
Central Bank of Iraq to establish stock exchange
The Central Bank of Iraq has decided to establish a stock exchange that would operate on a daily basis instead of three times a week as proposed previously, MENAFN reported.
CPA Briefs on Iraqi Currency Exchange
Saddam-free dinars have hit the streets in Iraq. How has this been achieved? This week's CentralBankNet Monday Special Feature gives a fascinating glimpse of the immense logistical challenges faced by the authorities in Iraq. The Central Bank of Iraq has…
Interview with Iraq's central bank governor
In an interview on Friday 10 October, published by Reuters, Iraq's central bank governor Sinan al-Shibibi said that donors should not be deterred from giving money by differences between the US and World Bank on how much aid Iraq can put to good use. …
Iraq unveils new currency
Iraq's new Saddam Hussein free currency was displayed on Saturday 4 October by Ahmed Salman Mohammed, deputy governor of the Central Bank of Iraq, according to a report by CNN. The new banknotes will go into circulation on October 15.
First batch of new Iraqi dinars reach central bank
The central bank of Iraq has taken delivery of the first batch of the new Iraqi dinars, according to the Khabat newspaper. The banknotes were printed in the UK and range from 50-dinar notes to the so far unused 25,000-dinar notes.
Monetary Options for Postwar Iraq
On October 15th, Iraq will issue a new unified dinar under the auspices of its new, "independent" central bank. This article published by the Cato Institute, "Monetary Options for Postwar Iraq" says the move will be a half-baked affair, at best, and is…
New Iraqi currency 'will not be fixed to dollar'
The governor of the central bank of Iraq, Sinan al-Shabibi, has said that Iraq is not considering fixing its new dinar to the dollar, according to the Financial Times. But he added, "The question in the market is what is a float. We don't want it to…
Iraq's central bank chief pledges to cut inflation
Sinan Al Shibibi, the newly appointed governor of the central bank of Iraq, said on Thursday 11 September that his top priorities were to fight inflation and to support the currency, according to the Gulf Daily News. But he acknowledged he has few of the…
Iraq Council names central bank governor
Sinan Mohammed Rida al-Shibibi, an economist, was named on Wednesday 10 September as Iraq's first central bank governor since the removal of Saddam Hussein from power. The move to appoint a permanent governor comes ahead of an important donors'…
Iraqi central bank seeks transfer of frozen assets
Faleh Salman, the acting governor of the Central Bank of Iraq has requested all frozen assets of the former Iraqi government be transferred to a development fund set up at the New York Federal Reserve, Reuters reported.
Signs of progress in Iraq
If the business of central banking may occasionally seem a touch hairy in Iraq, it isn't all bad. Although Faleh Salman, the man who has now been confirmed as governor of the central bank by the American interim administration, was the hapless victim of…
Interview: Iraq's acting central bank chief Salman
In an interview with Reuters Faleh Salman, interim central bank governor in Iraq said Tuesday the central bank's independence from government interference for the first time in decades will help create confidence in the new Iraqi dinar banknotes. The…
Gunmen attack Iraq central bank governor
The acting governor of the central bank of Iraq Faleh Daud Salman escaped unhurt on Monday after the car he was travelling in was fired on, The Australian reports. Two passengers in the car were wounded however, the report added. But a separate report…