Iraqi capital storage

Is the Iraqi Kurdistan a good place to invest?

IRAQI KURDISTAN REGION: While investors in the semi-autonomous IKR face many of the same challenges as investors elsewhere in Iraq, the IKR’s friendlier investment climate (as noted, allowing 100% foreign ownership of a business) and a more commercial-friendly legal framework appeal to many U.S. firms and franchises.

Can a bank finance a project in Iraq?

Banks have historically offered few financial services, and many smaller banks have only acted as currency exchange houses, but the industry is beginning to change in Iraq (including in IKR). Bank financing of projects is still rare. Few home buyers can get a mortgage loan. Collateral requirements for loans are generally daunting.

How much money does DFC invest in Iraq?

DFC’s current investments in Iraq surpass $300 million across sectors such as energy and financial services. The agency has invested more than $700 million in the country since 2004. The GOI and DFC will likely extend the MOU beyond its August 2024 expiration date.

Does Iraq have a centralized ownership entity?

Iraq does not have a centralized ownership entity that exercises ownership rights for each of the SOEs. SOEs are required to seek their parent ministry’s approval for certain categories of financial decisions and operation expansions. However, in practice, SOEs defer to the parent ministry for the vast majority of decisions.