Thread: Archive News - Iraqi Dinar Think Tank - 08/09/09 - 09/01/10

AFS to provide key services for Iraq bank

Bahrain-based Arab Financial Services (AFS), one of the leading electronic payment enablers in the Middle East, is to provide credit card management services for Iraqi Middle East Investment Bank (IMEIB).

IMEIB is a major private bank in Iraq and is in the forefront of technology adaption in the country.

With its network of branches in the, the bank has ambitious plans for expanding its retail services.

Under the agreement, AFS will sponsor IMEIB for issuing and processing credit cards.

This includes providing card personalisation, comprehensive back-office, reconciliation, dispute management, an interaction centre and m.obile banking services to the bank.

The agreement covers similar services for the bank's debit cards.
"This partnership with AFS is yet another milestone in our history of introducing new services in Iraq," said IMEIB managing director Hikmat Jerjis Bahnam.

"Credit cards will form an integral part of our retail portfolio and we hope to please our customers by introducing features and services comparable to the best in the world."

AFS is a subsidiary of Arab Banking Corporation and p.ioneered the concept of outsourcing card processing in the region and was the first to set up an end-to-end state-of-the-art card-outsourcing environment in Bahrain.

AFS is the largest payment card processor in the Middle East and North Africa regions.

"Iraq is an important market for us and we are committed to supporting the banks there, working with them to introduce leading edge technologies in the country," said AFS chief E.xecutive officer Shankar Sharma.

"We thank IMEIB for giving us the opportunity to partner them and look forward to a long and mutually beneficial relationship."

http://www.gulf-daily-news.com/NewsD...storyid=261217

Hashimi confirms that the Iraqi economy is still one-sided

The price of Vice President Tariq al-Hashemi efforts and the national position of the cadres of the Southern Oil Company, describing them dedicated soldiers who are working in the shadows for the sake of the country.

He called al-Hashemi in his SOC to provide an opportunity for technical staff to raise the level of the Iraqi national production to the advanced stages and up to a.spire to Iraq.

The Vice President stressed the importance of taking into account the fact that the Iraqi economy is still unfortunately one-sided and totally dependent on oil, pointing out that the country is in dire need to develop the oil sector will be priority to Iraqi firms.

http://www.radiodijla.com/cgi-bin/ne...?id=2009-10-05

CBI’s dollar sales reach 220m on Tuesday

The Central Bank of Iraq’s (CBI) dollar sales went up to reach $220.600 million in its daily auction on Monday compared to $192.980 million during the previous session.

“The demand hit $6.890 million in cash, covered by the bank at an exchange rate of 1,183 Iraqi dinars, and $213.710 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 18 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=119981

Iraq Vice President hails South Oil Company

Iraq Vice President Tarek Al Hashemi hailed South Oil Company’s efforts and stands. Hashemi said that the company cadres are loyal soldiers who work in the shadow for the interest of the country. During a visit to the company in the framework of his tour in Basra province, Hashimi said that the Iraqi technical cadre should be granted a chance to hoist the national production towards developed levels and to achieve Iraq ambitions. The history of South Oil Company enables the same from hoisting the rates of national production, Vice President said. The fact that Iraq economy is still fully relying on oil shall be taken into consideration, Hashemi said. The country needs to develop oil sector he added stressing that the priority would be given to Iraqi companies.

http://www.alsumaria.tv/en/Economics...l-Company.html

Iraq 'is new emerging realty market in Mideast'

Iraq is becoming the new emerging real estate investment market of the Middle East, led by a groundbreaking residential project in the northern Kurdish region, according to a development company about to start work there.

New Zealand's Atconz Real Estate Development, is building a 1,565-unit residential compound in a suburb of Erbil, capital of the Kurdish region. Called New Azadi, the project has a budget of $100 million and is licensed by the Kurdish regional government.

The 750,000 square metre New Azadi project will consist of 810 two-bedroom houses, 700 four-bedroom houses, 55 five-bedroom houses, four schools, a hotel, supermarket, plantation, commercial and community services and parks.

Atconz CEO Dean Michael, said: "We believe in partnership with the government authorities, who have identified the need for 1.5 million new residential units across the country. Our current project represents only about one per cent of that, but we hope it will encourage more investors to engage in this market."

http://www.zawya.com/Story.cfm/sidGN...n%20Mideast%27

Commission of the ration card invites agents to comply with a cost of the ration of 250 dinars per person

The Committee of the ration card In the Baghdad Provincial Council meeting in the presence of Chairman of the Committee Abdul Majeed Sudan And Director of Card Supply Ghalib Karim to discuss the reality of the ration card.

A source in the press office The provincial council of the reporter has been discussed during the meeting Subject Agents card Supply And vocabulary And confirm On the role of municipal councils in the follow-up to the obstacles faced by the population, noting To the need to Follow-up and inspection agents of the material Dietary Continuous and abide by the instructions in prices and control the balance of stressing agents to punish offenders with the instructions and the withdrawal of the Agency He called on citizens to pay 250 dinars Return for a share of per capita and the reporting of agents who are paid an additional amount to the amount due.

http://translate.googleusercontent.c...QFhfTPSvsocYxA

Update......

Iraqi Finance Minister: IMF granted $5 Bln to Iraq for budget

Iraq has been granted $5 billion by the International Monetary Fund to support the government's budget, Iraqi Finance Minister Baker al-Zubaidy said Tuesday.

"We reached an agreement on an IMF loan for about $5 billion," he told reporters in Istanbul, speaking on the sidelines of the IMF's annual meeting.

The funds will be disbursed between 2010 and 2011, he said.

"We will not spend on the oil or electricity sector [any more]," he said, adding that such projects will be financed through the private sector.

Al-Zubaidy also said he has been meeting with French Finance Minister Christine Lagarde to discuss the country's investments in Iraq's oil sector.

http://pukmedia.com/english/index.ph...13721&Itemid=1

7th October 2009

Zubaidi, Baghdad ... Meet Finance Minister
Met with the Minister of Finance Baqir al-Zubaidi, Minister of Finance of Lebanon, Mr. Mohammed Chatah, and the delegation accompanying him in the office of Iraq in Istanbul on the sidelines of the annual meetings of the International Monetary Fund and the World Bank

Which was held in Istanbul and the meeting was attended by Iraqi Central Bank Governor Dr... Shabibi Wed. Aziz Jaafar adviser to the Minister of Finance and the appearance of Mr. Mohamed Salih, adviser to the CBI.

The two sides discussed bilateral relations and prospects for development in the interest of both peoples. The Minister stressed on the direction of the Iraqi government be encouraged to enter Take a Lebanese private sector has to the Iraqi market, whether the implementation of government projects or investment in various sectors. As the Minister that a double Between the two countries are ready for signature and can be done after the formation of the Lebanese government. His Excellency was welcomed by Finance Minister on the continued cooperation of both the official and the private sector and it is waiting for visit of His Excellency the Minister of Finance of Iraq to Lebanon to sign the agreement on double taxation and the meeting with the Lebanese private sector to encourage it to invest in Iraq and contribute to the implementation of capital projects to build the Iraqi infrastructure.

http://translate.googleusercontent.c...PM4g7lVyOgJvGQ

France investment opportunities in Baghdad

Head of the Mission Economic detection of the French Embassy in Baghdad Frederick Copelet investment opportunities to come to strengthen economic ties between the two countries.

A source in the Baghdad Chamber of Commerce, told the independent press on Saturday that confirm the French came during a meeting between President of the Chamber President Amjad Jubouri Economic Mission at the French embassy in Baghdad, who examined the prospects for expanding cooperation and resolving outstanding problems between the two traders.

The source pointed out that the chamber had informed the French delegation that will have constant contact with the commercial attaché at the French embassy in Baghdad and the room will receive proposals for the nomination and Iraqi agents for French companies, as well as holding extensive meetings between them

http://radionawa.com/Ar/NewsDetailN....916&LinkID=105

Exxon Mobil made a new offer on the Zubair oil field

Oil Ministry official said that Iraq has formed a committee to study the offers of new or amended by the major oil companies on oil fields that are not awarded in a bidding round for the initial energy, which ended in June.

The official said in a statement carried by the news agency who declined to be named, said Exxon Mobil made a presentation on the new Zubair oil field, while Chevron and Total have made a new offer on the West Qurna field, adding that the presentations of the study subject is expected a decision soon.

http://radionawa.com/Ar/NewsDetailN....939&LinkID=105