QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the nine months ended 30 September 2018.

For the nine months ended 30 September 2018, Net Profit reached QAR10.8 billion (USD3.0 billion), up by 6% compared to same period last year, despite the impact of the Turkish Lira devaluation.

Total"...

ERBIL - The World Bank has announced that it, cooperatively with the Canadian government, will allocate nearly $2 million to help the Iraqi government in improving women's political and commercial affairs in the country.

According to a statement by the international bank, $ 1.95 million have been allocated for women in Iraq, including the women rights organizations, saying that the funds have to be utilized to strengthen the power of women based"...

ERBIL, Kurdistan Region – The Central Bank of Iraq (CBI) has released a series of new banknote designs aimed at modernizing the currency and better reflecting the nation’s heritage and diversity.

The last significant redesign of Iraqi banknotes came after the 2003 US invasion, which saw Saddam Hussein’s face removed from the currency.

Now a new series of 25,000, 10,000, 1000, 500, 250 dinar notes is set to enter circulation from next week. The CBI says it does not plan to recall"...

The state-owned Trade Bank of Iraq (TBI) is reported to be in talks to buy a Gulf bank with branches in the United Arab Emirates (UAE) and Qatar.

Chairman Faisal al-Haimus told Reuters that talks are underway and the purchase is expected to be completed in six to eight months. The name of the bank was not disclosed.

According to the report, Haimus was in Abu Dhabi to sign"...

Trade Bank of Iraq (TBI) has signed a Basic Loan Agreement for financing loans with Commerzbank to support small and medium sized projects in Iraq.

The Loan Agreement was signed at the back of TBI being approved by Germany’s export credit insurer Euler Hermes as a borrower for medium and long term Export Credit Agency (ECA) financing with repayment terms of up to five years, said a statement.

TBI aims to support public and private sector projects up to a business volume of €100 million"...

The US dollar to Iraqi dinar (IQD) exchange rate was stable in the Kurdistan Region’s currency markets on Sunday (September 30).

Broker Dana Mawlud told NRT Digital Media that $100 was selling at 120,750 Iraqi dinars, maintaining the same rate as the previous day.

Mawlud also reported that 100 British pounds was at 155,000 Iraqi dinars and 100 euros was at 138,000.

Iran on Saturday authorised the central bank to intervene in the foreign exchange market in defence of the rial, state television reported, after the currency fell to repeated record lows in recent weeks following the reimposition of US sanctions.

A top government body, headed by President Hassan Rouhani and the heads of parliament and the judiciary, 'gave the central bank governor the necessary authority to intervene in the foreign exchange"...

The World Bank Group and the European Union have signed a €15.6 million (US$18.1 equivalent) technical assistance program to strengthen public financial management (PFM) oversight and accountability Institutions in Iraq and increase the efficiency in the management of public resources and delivery of services.

The initiative, which will be implemented jointly by the European Union and the World Bank, complements the $41.5 million “Modernization"...

The US dollar to Iraqi dinar (IQD) exchange rate remained stable in the Kurdistan Region’s currency markets on Thursday (September 20).

Broker Dana Mawlud told NRT that $100 was selling at 121,350 Iraqi dinars, maintaining the same rate as the previous day.

Mawlud also reported that 100 British pounds was stable at 156,250 Iraqi dinars and 100 euros was at 140,500.

The total foreign currency assets held by the Central Bank of the UAE (CBUAE) surged to Dh329.5 billion ($89.7 billion) during August from Dh326.4 billion in April, a media report said.

Current account balances rose and deposits with foreign banks strengthened to Dh260.8 billion against Dh255 billion in April, reported state-run Wam, citing figures released by CBUAE today.

The foreign assets exclude CBUAE Reserve Tranche Position and Special Drawing Rights holdings with the International Monetary"...