Iraq Economic News and Points To Ponder Monday Afternoon 6-30-25

US Embassy Staff Return To Baghdad After Security Improves

A number of US embassy staff in Baghdad resumed their duties after being temporarily evacuated amid security concerns surrounding the war between Israel and Iran.

A video on Saturday documented two helicopters landing inside the embassy compound in the Green Zone, where a number of staff disembarked, marking a gradual return to diplomatic activity.
The US State Department had ordered the withdrawal of non-essential staff from the embassy in Baghdad and the consulate in Erbil on June 12, a day before the outbreak of the 12-day war.

A US official later confirmed that an additional batch of staff was evacuated on June 21 and 22, at the height of tensions.

The US embassy had warned its citizens on June 21 against traveling to Iraq for any reason and temporarily suspended routine visa services, but it continued to provide consular services to American citizens.

Previous reports from sites close to armed factions in Iraq had spoken of a complete evacuation of the US embassy, ​​but these reports have proven false, with a number of staff now returning amid security reinforcements.   https://www.radionawa.com/all-detail.aspx?jimare=42139

Iraq Ranked Fourth In Economic Growth Among Arab Oil-Producing Countries By 2025.

Money and Business  Economy News – Baghdad   The International Monetary Fund reported on Sunday that Iraq ranked fourth among Arab oil-producing countries with the best economic growth in 2025.

The fund stated in statistics reviewed by Al-Eqtisad News that "Iraq came in fourth with a growth rate of 4.1%, up from 0.1% in 2024."

He explained that "Libya topped the list with economic growth of 13.7%, followed by the UAE with 5.1%, Saudi Arabia with 4.6%, and Algeria came in fifth with 4%."

The fund added that "Kuwait recorded a growth rate of 3.3%, ranking sixth, followed by Bahrain with 3.2%, then the Sultanate of Oman with 3.1%, and Qatar in ninth place with 1.9%." https://economy-news.net/content.php?id=56770

Iraq's Oil Exports To The US Have Declined.

Energy  Economy News - Follow-up  The US Energy Information Administration announced on Sunday that Iraq's oil exports to the US declined last week.

The administration stated in its statistics that "the average US crude oil imports during the past week from 10 major countries reached 5.236 million barrels per day, an increase of 272 thousand barrels per day from the previous week, which reached 4.964 million barrels per day."

She added, "Iraq's oil exports to the United States averaged 183,000 barrels per day, down 30,000 barrels per day from the previous week's average of 213,000 barrels per day."

The administration also noted that "the largest US oil revenues during the past week came from Canada, at a rate of 3.168 million barrels per day, followed by Mexico, at a rate of 397,000 barrels per day, Saudi Arabia, at an average of 346,000 barrels per day, Colombia, at a rate of 325,000 barrels per day, and Brazil, at a rate of 299,000 barrels per day."

According to the table, "US crude oil imports from Libya averaged 240,000 barrels per day, from Nigeria 209,000 barrels per day, from Venezuela 70,000 barrels, and from Ecuador 5,000 barrels per day."
207 views  Added 06/29/2025 - https://economy-news.net/content.php?id=56750

For Its Role In Credit And Anti-Money Laundering, Al-Ahli Bank Of Iraq Wins The "Fastest Growing Bank 2025" Award.

Banks  Economy News – Baghdad  The National Bank of Iraq announced that it has won the "Fastest Growing Corporate Bank in Iraq 2025" award from the International Finance Awards.

The bank said in a statement, "This win is in recognition of the bank's outstanding financial performance and successive achievements, as its total assets have reached approximately 5.2 trillion Iraqi dinars, supported by a strong capital base with a paid-up capital of 520 billion dinars, and recording continuous growth and an increasing market share.

" It indicated that "this honor also reflects the bank's success in achieving an increase in its total revenues and a rise in its net profits, which confirms its sound financial strategies and risk management."

He explained that "the bank excelled in providing a comprehensive suite of banking services and solutions specifically designed to meet the needs of companies and institutions, leading to a significant expansion of its credit facilities portfolio and a growing number of corporate clients.

Its efforts in digital transformation and modernizing its technological infrastructure, including the implementation of the Temenos T24 system and the activation of its anti-money laundering system, were also key factors in its evaluation of the award."

He explained that "the bank has a wide network of branches comprising 38 locations covering various Iraqi governorates, in addition to more than 350 ATMs. Today, it serves more than 400,000 individual and corporate customers, supported by a professional team and strategic partnerships with a number of local and international institutions."

Commenting on this achievement, Ayman Abu Dahim, Managing Director of the National Bank of Iraq, said, "Winning this prestigious award reflects the collective effort and meticulous planning we have adopted over recent years.

We have worked to build a strong foundation for corporate banking, supported by strong financial performance, expanding our network of relationships with the corporate sector, and developing financial solutions that meet their renewed aspirations."

Abu Dahim affirmed the National Bank of Iraq's commitment to continuing its distinguished performance by investing in banking technology, enhancing transparency and governance, and creating flexible and effective solutions that support sustainable growth for its customers and the Iraqi community.

He expressed his pride in the bank's position as one of the most prominent drivers of growth in the banking sector in Iraq and the region.

The National Bank of Iraq is a leading institution in retail banking and payroll services, serving both the public and private sectors. It also offers a comprehensive range of distinguished services designed to meet the needs of companies of all sizes and sectors, including, but not limited to, documentary credits, letters of guarantee, foreign transfers, banking facilities, and specialized cash centers.

To enhance the customer experience, the bank provides a 24/7 call center, in addition to a dedicated relationship manager to serve each customer individually, ensuring a prompt and effective response to all inquiries and needs.

It's worth noting that the bank has received strong financial ratings from internationally recognized agencies, including a BB rating from Capital Intelligence and a B3 rating from Moody's. Additionally, the Central Bank of Iraq has rated the National Bank of Iraq as "very good," confirming its operational excellence.

With a strong focus on international banking and trade finance, the bank has built an extensive network of correspondent banks, positioning it as a gateway for companies to connect to global markets.  367 views Added 06/29/2025 - https://economy-news.net/content.php?id=56765

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/