Board of Central Bank of Iraq to be Restructured?
By John Lee.
Iraqi Prime Minister Mohammed S. Al-Sudani chaired a meeting on Monday of the High Committee tasked with reassessing and restructuring the boards of directors of state-owned banks and the Central Bank of Iraq (CBI).
The committee approved several recommendations focused on evaluating board performance as part of a broader programme of banking and financial reform. The Prime Minister emphasised the critical role of these boards in leading strategic direction, ensuring transparency and accountability, and assessing institutional financial risks.
He also called for stronger coordination between the boards, government entities, and the private sector to advance financial and developmental policies that support Iraq's economic growth.
(Source: Media Office of the Prime Minister)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Shafaq News
7 hours ago
- Shafaq News
Iraqi forces launch security sweep in Mosul
Shafaq News/ Iraqi security forces launched a wide-ranging security operation on Saturday in southeastern Mosul, aimed at searching for wanted individuals. The Popular Mobilization Forces (PMF) stated that the operation involves units from PMF Operations Command—including the 30th, 58th, and 59th brigades—alongside army and police forces, intelligence units, and various PMF directorates specializing in medical services, explosives, engineering, and information technology. The operation includes the search of villages, canals, islands, and riverbanks along the Tigris River, as part of a coordinated effort with security agencies. The PMF emphasized that this operation is part of its ongoing security plan to prevent any disturbances during Eid al-Adha.
Shafaq News
7 hours ago
- Shafaq News
Iraq's domestic debt surpasses $60B by March 2025
Shafaq News/ Iraq's domestic debt increased to 85.536T IQD ($60.5B) by the end of March 2025, the Central Bank of Iraq (CBI) reported on Saturday. The figure marked a rise from 82.608T IQD ($58.5B) in February and a 2.91% increase compared to the end of 2024, when domestic debt stood at 83.050T IQD ($58.8B). Over the longer term, the debt has surged by 17.53% from 70.585T IQD ($50B) in 2023. According to CBI, the debt comprises bonds valued at 12.567T IQD ($8.9B), loans from state-owned banks totaling 5.800T IQD ($4.11B), and loans from financial institutions amounting to 13.352T IQD ($9.4B). It also includes 2.030T IQD ($1.4B) in treasury bills for the Finance Ministry, 51.030T IQD ($36.16B) in treasury transfers, and an additional 755.519B IQD ($535.32M) in obligations on the Finance Ministry. CBI did not elaborate on the potential impact of this rising domestic debt on Iraq's fiscal landscape.
Iraq Business
21 hours ago
- Iraq Business
KRG to Eliminate 7,000 Private Generators by 2026
By John Lee. The Kurdistan Regional Government (KRG) has said that its Runaki (Light) project is making significant progress toward delivering 24-hour electricity to the entire Kurdistan Region by the end of 2026. One of the initiative's key milestones is the planned decommissioning of approximately 7,000 private diesel generators, which have long been a major source of environmental pollution. So far, 1,260 generators have been shut down, including 1,092 in Erbil, 79 in Slemani, and 89 in Duhok, representing 17 percent of the total. The shutdown is projected to cut carbon dioxide emissions by 240,000 tonnes per year, the equivalent of removing 250,000 vehicles from circulation. Upon full implementation by 2026, the project will eliminate 1.4 million tonnes of CO₂ emissions annually, a 4-percent reduction in the Region's overall carbon footprint. Full statement from the KRG: Runaki Project to Shut Down 7,000 Private Generators Across the Kurdistan Region The Runaki (Light) Project is a national initiative by the Kurdistan Regional Government (KRG), aimed at providing 24-hour electricity across the entire Kurdistan Region by the end of 2026. One of the project's most significant achievements is the shutdown of approximately 7,000 private diesel generators throughout the region. These generators were a major source of environmental pollution in the Kurdistan Region. Key data from this phase of the Runaki Project are outlined below: A total of 1,260 private generators have been decommissioned across the region: 1,092 in Erbil, 79 in Slemani, and 89 in Duhok. This figure represents 17% of all private generators previously operating in the Kurdistan Region. The shutdown of these generators is estimated to reduce carbon dioxide emissions by 240,000 tonnes per year-equivalent to removing approximately 250,000 vehicles from the roads. Environmental Impact of Deactivating Private Generators Under the Runaki Project by 2026: By the end of 2026, the project will have fully phased out private generators, resulting in an estimated annual reduction of 1.4 million tonnes of carbon dioxide emissions. This reduction is equivalent to removing 1.3 million vehicles from the roads. The initiative will contribute to a 4% decrease in overall carbon dioxide emissions in the Kurdistan Region. Implementation Approach: The Runaki Project has established agreements with private generator owners to deactivate their generators, limiting their use to emergency backup only. As a result, over 1 million public electricity consumers now enjoy uninterrupted 24-hour electricity supply provided directly by the project. Throughout the duration of the project, private generator owners have consistently received their agreed monthly compensation. Categories of Generators Decommissioned Under the Runaki Project: Private generators serving residential areas Generators owned by individual households Generators powering commercial establishments, including hotels and restaurants Generators located in public areas, such as parks Financial Benefits: 80% of citizens now pay less than they previously did for a combination of private generator and public electricity services. In the past, low-income households spent up to 30% of their monthly income on private generator costs. Now, citizens are billed solely based on their actual electricity usage. Health and Environmental Benefits of the Runaki Project: The project reduces harmful emissions by shutting down residential private generators, significantly cutting the release of carbon dioxide, sulphur dioxide, and other toxic gases. It prevents soil and water contamination by ending the improper disposal of wastewater and used oil. It conserves approximately 1 million square metres of water annually that was previously used to cool private generators. It reduces noise pollution by removing generators that operated at noise levels 50% to 100% above acceptable standards. (Source: KRG) Tags: cg, decarbonisation, Electricity In Iraq, environment, featured, generators, Infrastructure, KRG, Kurdistan News, renewable energy, Runaki Project
