Home
[size=24]KTFA Members "News and Views" Sunday Afternoon 7-7-19
7/7/2019Go to Comments[/size]
KTFA:
OlLar: I know i felt very disappointed that come July 1 we did not see a rate change because Shabs ,Turki, and Saleh all said that 'although the first of the year and the middle of the aren't the only time to remove the Zeros, they are the best time , because of accounting practices'.
It occurs to me that accounting for what occurs during a month is stated on paper at the end after everything has taken place, so, we still have the rest of July for the big reveal to still account for July. IMO.
....
***************
Samson: The Iraqi Trade Bank announces the opening of branches in China, Saudi Arabia and Abu Dhabi
7th July, 2019
The Iraqi Trade Bank (BBI) on Sunday launched its plan to boost its revenues from unilateral and international business.
"The plan includes an expansion of the bank's operations, including the opening of new representations in China, Abu Dhabi and Saudi Arabia, where the bank's revenue from foreign transactions is expected to rise to 30 percent," Faisal Al-Hamas, director of the bank, told National News. Of total imports, with the end of the next three years."
It is noteworthy that the Iraqi Trade Bank contributes 80% of the official Iraqi trade with other countries, with a capital of 30 billion dollars. LINK
**************
Samson: BBI: Expansion in China and the Gulf will increase revenues to 30% by 2020
2019/7/7 17:40
The state-owned bank is expanding in China and the Gulf in an effort to boost its revenues from retail banking and international operations to 30 percent by 2022, from 25 percent now, the chairman of the Iraqi Trade Bank Faisal Al-Hims said.
The bank plans to open a representative office in China next year and is upgrading its Abu Dhabi license to an asset management company from a representative office. BTI's total income was $ 550 million in 2018, with trade financing accounting for the lion's share, and banking and international operations accounted for 25 percent of its revenues.
The bank, owned by the Iraqi government with assets of about $ 30 billion, contributes about 80 percent of Iraq's trade finance activities. He added that the bank entered Saudi Arabia this year and opened its first branch in Riyadh.
The branch will be fully operational in September and will focus on trade finance. Homs said the bank had stopped holding talks with a Gulf bank after the latter decided it did not want to sell.
"With our expansion in China, Abu Dhabi and Saudi Arabia, retail and international operations will contribute about 30 percent of our total revenues by the end of the next three years," Hummes told Reuters. He added that trade between Iraq and China is large in the public and private sectors, where China's oil companies are active in Iraq and the private sector imports much from China.
The Iraqi Trade Bank has been in talks to buy a Gulf bank with branches in the United Arab Emirates and Qatar as part of a strategy to boost its revenues outside its domestic market,Hymes told Reuters in October.
Earlier, the bank also suspended plans to buy a commercial bank in Turkey due to the steep devaluation of the lira. But the bank is still interested in acquiring a bank in Turkey, Iraq's biggest trading partner. "There are people we still look forward to, and the process is still at a very early stage," he said, declining to be named.
He pointed out that the Iraqi Trade Bank plays a major role in the reconstruction of Iraq and infrastructure development, and will help to support the balance sheet, which grew to 30 billion dollars. The bank also plans to launch a fund in the last quarter of 2019 focusing on lending to Iraqi banks to finance international trade, with approvals expected by October. LINK
Kickikai: This article is awesome! They do talk about being fully operational in September, and the last quarter of 2019. But maybe the rate will change prior to that? I’m fully confident in the information Frank, Delta and Walkingstick are giving about sooner rather than later! And of course, in God’s perfect timing! IMO!
Samson: Deputies: 13 legislatures voted and waiting for another 100
7th July, 2019
The parliamentary legal committee revealed on Sunday that 13 laws passed during the current parliamentary session, pointing out that 100 legislation and a bill is ready to vote during the next stage.
"The current session of the House of Representatives witnessed the passing of 13 laws, most of which are important, such as the budget and the management of public debt," said Hussein al-Aqabi, a member of the committee.
Al-Aqabi added that "the House of Representatives will pass during the meeting tomorrow to amend the budget law and special grades as well as legislation of the laws of the Ministry of Communications and Information and Communications Commission."
He explained that "100 legislation and the proposed law is ready to vote will be passed gradually after the political consensus and make some adjustments." LINK
Sulli: Hmmmmmmmm... nice they passed Budget and tomorrow the amended Budget Law.... hopefully the "gradually"ones won't matter....heeeheee ....yup grinning!!! They seem to have an urgency about them ......
Samson: Deputy: Parliament decides to withhold the salaries of deputies absent from the session
7th July, 2019
The Presidency has taken some measures against the absentee MPs and is deducted from their salaries," said the deputy of the Alliance of Fatah al-Fayez, Sunday, July 7, 2019, noting that "the deduction from the deputy's salary is insufficient, and should be reconsidered by their membership."
Fayez said in a statement followed by the "obelisk" that some of the deputies "did not attend the Council and are counted within the quorum and adversely affect the quorum of the session."
"There is a demand from some deputies to the Presidency to take legal action against the absentee MPs," explaining that "the absence of deputies from previous meetings, which is for the heads of blocs and parties and must have the Presidency position on this." LINK
Samson: Source: Chinese companies will develop Nasiriyah airport and industrial city in Dhi Qar
7th July, 2019
A group of Chinese companies have been developing the Nasiriyah International Airport and the industrial city of Dhi Qar province, a source familiar with the project said Sunday.
"The Chinese companies will send delegations soon, to visit the signatories, and to learn more about the requirements of developing the work for each facility," the source said in an exclusive interview. "The airport will be equipped with the modern equipment required to perform its work effectively."
Al-Nasiriyah airport has been the subject of controversy after the announcement of the end of work and entry into service, because of the small size and lack of equipment. LINK
Chappy86: From the post yesterday it seems that China's strategy is for the Yuan to become the world's currency reserve. They want to take our place in supplying world money. IMO
Cornhusker: In myo their won't be a world currency every country will use their own currency with their own value.
OlLar: I know i felt very disappointed that come July 1 we did not see a rate change because Shabs ,Turki, and Saleh all said that 'although the first of the year and the middle of the aren't the only time to remove the Zeros, they are the best time , because of accounting practices'.
It occurs to me that accounting for what occurs during a month is stated on paper at the end after everything has taken place, so, we still have the rest of July for the big reveal to still account for July. IMO.
....
***************
Samson: The Iraqi Trade Bank announces the opening of branches in China, Saudi Arabia and Abu Dhabi
7th July, 2019
The Iraqi Trade Bank (BBI) on Sunday launched its plan to boost its revenues from unilateral and international business.
"The plan includes an expansion of the bank's operations, including the opening of new representations in China, Abu Dhabi and Saudi Arabia, where the bank's revenue from foreign transactions is expected to rise to 30 percent," Faisal Al-Hamas, director of the bank, told National News. Of total imports, with the end of the next three years."
It is noteworthy that the Iraqi Trade Bank contributes 80% of the official Iraqi trade with other countries, with a capital of 30 billion dollars. LINK
**************
Samson: BBI: Expansion in China and the Gulf will increase revenues to 30% by 2020
2019/7/7 17:40
The state-owned bank is expanding in China and the Gulf in an effort to boost its revenues from retail banking and international operations to 30 percent by 2022, from 25 percent now, the chairman of the Iraqi Trade Bank Faisal Al-Hims said.
The bank plans to open a representative office in China next year and is upgrading its Abu Dhabi license to an asset management company from a representative office. BTI's total income was $ 550 million in 2018, with trade financing accounting for the lion's share, and banking and international operations accounted for 25 percent of its revenues.
The bank, owned by the Iraqi government with assets of about $ 30 billion, contributes about 80 percent of Iraq's trade finance activities. He added that the bank entered Saudi Arabia this year and opened its first branch in Riyadh.
The branch will be fully operational in September and will focus on trade finance. Homs said the bank had stopped holding talks with a Gulf bank after the latter decided it did not want to sell.
"With our expansion in China, Abu Dhabi and Saudi Arabia, retail and international operations will contribute about 30 percent of our total revenues by the end of the next three years," Hummes told Reuters. He added that trade between Iraq and China is large in the public and private sectors, where China's oil companies are active in Iraq and the private sector imports much from China.
The Iraqi Trade Bank has been in talks to buy a Gulf bank with branches in the United Arab Emirates and Qatar as part of a strategy to boost its revenues outside its domestic market,Hymes told Reuters in October.
Earlier, the bank also suspended plans to buy a commercial bank in Turkey due to the steep devaluation of the lira. But the bank is still interested in acquiring a bank in Turkey, Iraq's biggest trading partner. "There are people we still look forward to, and the process is still at a very early stage," he said, declining to be named.
He pointed out that the Iraqi Trade Bank plays a major role in the reconstruction of Iraq and infrastructure development, and will help to support the balance sheet, which grew to 30 billion dollars. The bank also plans to launch a fund in the last quarter of 2019 focusing on lending to Iraqi banks to finance international trade, with approvals expected by October. LINK
Kickikai: This article is awesome! They do talk about being fully operational in September, and the last quarter of 2019. But maybe the rate will change prior to that? I’m fully confident in the information Frank, Delta and Walkingstick are giving about sooner rather than later! And of course, in God’s perfect timing! IMO!
Samson: Deputies: 13 legislatures voted and waiting for another 100
7th July, 2019
The parliamentary legal committee revealed on Sunday that 13 laws passed during the current parliamentary session, pointing out that 100 legislation and a bill is ready to vote during the next stage.
"The current session of the House of Representatives witnessed the passing of 13 laws, most of which are important, such as the budget and the management of public debt," said Hussein al-Aqabi, a member of the committee.
Al-Aqabi added that "the House of Representatives will pass during the meeting tomorrow to amend the budget law and special grades as well as legislation of the laws of the Ministry of Communications and Information and Communications Commission."
He explained that "100 legislation and the proposed law is ready to vote will be passed gradually after the political consensus and make some adjustments." LINK
Sulli: Hmmmmmmmm... nice they passed Budget and tomorrow the amended Budget Law.... hopefully the "gradually"ones won't matter....heeeheee ....yup grinning!!! They seem to have an urgency about them ......
Samson: Deputy: Parliament decides to withhold the salaries of deputies absent from the session
7th July, 2019
The Presidency has taken some measures against the absentee MPs and is deducted from their salaries," said the deputy of the Alliance of Fatah al-Fayez, Sunday, July 7, 2019, noting that "the deduction from the deputy's salary is insufficient, and should be reconsidered by their membership."
Fayez said in a statement followed by the "obelisk" that some of the deputies "did not attend the Council and are counted within the quorum and adversely affect the quorum of the session."
"There is a demand from some deputies to the Presidency to take legal action against the absentee MPs," explaining that "the absence of deputies from previous meetings, which is for the heads of blocs and parties and must have the Presidency position on this." LINK
Samson: Source: Chinese companies will develop Nasiriyah airport and industrial city in Dhi Qar
7th July, 2019
A group of Chinese companies have been developing the Nasiriyah International Airport and the industrial city of Dhi Qar province, a source familiar with the project said Sunday.
"The Chinese companies will send delegations soon, to visit the signatories, and to learn more about the requirements of developing the work for each facility," the source said in an exclusive interview. "The airport will be equipped with the modern equipment required to perform its work effectively."
Al-Nasiriyah airport has been the subject of controversy after the announcement of the end of work and entry into service, because of the small size and lack of equipment. LINK
Chappy86: From the post yesterday it seems that China's strategy is for the Yuan to become the world's currency reserve. They want to take our place in supplying world money. IMO
Cornhusker: In myo their won't be a world currency every country will use their own currency with their own value.
» Al-Mandalawi stresses the need to strengthen economic and trade cooperation between Iraq and Poland
» Power maneuvers: America provides defensive weapons to Kurdistan in exchange for withholding from Ba
» Kuwait is drilling an oil well near Umm Qasr, towards Iraqi territory
» In the document... the first Iraqi ministry identifies the obstacles to changing the new official wo
» Italian Institute: Iraq is stuck in its own crises, including Baghdad’s efforts to undermine the “au
» The head of the Integrity Commission announces the holding of an international Interpol conference i
» Planning: Iraqi companies are not efficient in conducting the population census
» utube MM&C 4/24/24 Support - USA- Turkey - Timing- Currency Value - Tabled
» MM&C 4/25/24 National Bank of Iraq goes live with Temenos core banking and payments
» utube MM&C 4/26/24 Iraqi Dinar - US Treasury Exchange Rates- Focus - Banking Partnerships - Rate C
» A banking official indicates a "danger" to Iraq by depriving more than half of its banks of dollars
» With the participation of the Association of Private Banks, investment opportunities are on the tabl
» Within a month... an Iranian border crossing recorded a noticeable increase in exports of goods to I
» The Association of Private Banks appreciates the efforts of the government and the Central Bank to c
» Al-Maliki's coalition presents a third candidate for the position of governor of Diyala
» Arab gathering: The Kirkuk problem is getting complicated and the Sudanese must intervene
» Next week.. a Kurdish delegation will visit Baghdad to meet with the Minister of Finance
» Under the pretext of salaries... Al-Party refrains from handing over port revenues to Baghdad
» Association of Banks: For the first time, we are witnessing a clear targeting of depriving half of t
» Parliament does not know the reason for the delay in sending the 2024 budget schedules: Voting takes
» Applicants for the 2024 Hajj are demanding that the Central Bank secure the dollar for them through
» Governmental and private banks will showcase their services tomorrow during Financial Inclusion Week
» Iraq's oil exports rise despite OPEC+ cuts
» A study explodes a "surprise"... Iraq is among the countries that export oil to "Israel": How is the
» Al-Araji emphasizes working to strengthen national identity
» Al-Sudani visits Saudi Arabia to participate in the World Economic Forum in Riyadh
» Iraq is talking about producing one million additional liters of gasoline
» The Council of Ministers approves the implementation of the Baghdad Metro project
» Minister of Commerce: We formed a joint economic committee with Türkiye
» Resources: Government measures have contributed to improving the water situation in Iraq
» Parliamentary Finance: Baghdad will continue to send salaries to the region’s employees until settle
» A parliamentarian describes the corruption of Iraqi ports as “ghouls” and reveals the involvement of
» Obelisk Hour: Basra is the subject of political conflict and ambiguity over the fate of the funds al
» Turkmen leader: An agreement on the local government of Kirkuk is near
» Anbar calls for the operation of its factories despite financial obstacles
» Turki: The crisis of the Presidency of Parliament prompted the Sunnis to amend the Council’s interna
» The Agriculture Committee confirms the existence of Iraqi-Turkish-Iranian discussions on water
» Resources diagnose the challenges facing the water file in Iraq
» Parliament pledges to the Interior Ministry: We will transfer money to buy weapons from citizens
» Al-Issawi is the closest.. Parliament sets the date for deciding the choice of the new president
» Deputy: Iraq's investments have risen and need a comprehensive review of previous years
» Iraqis consume 7 billion eggs annually and import about $900 million
» The Iranian role complicates attempts at open cooperation between Iraq and Turkey. Turkey is trying
» Move in Iran to obtain $242 billion from Iraq in compensation for the eight-year war
» 12 decisions from the Council of Ministers regarding the Baghdad Metro and Najaf-Karbala train proje
» Sudanese Advisor: The path to development has begun... the Baka and the militias “we silence them wi
» Not from Kurdistan.. How did Iraq become a source of oil for “Israeli tanks”?
» Parliamentary Agriculture criticizes the Sudanese and Erdogan agreement: Türkiye will control water
» The Iraqi government issues new decisions
» The story of “reduced oil” to Jordan, from “compulsion” to mutual benefit.. Is there a loss?
» The Council of Ministers takes 12 decisions for the Baghdad Metro and the Najaf-Karbala train
» utube MM&C 4/23/24 Iraqi Dinar - IQD Update - Development Road Project - Saviour of Global Banking
» Kidney from pig transplanted into deathly ill New Jersey woman — and begins working almost immediat
» The most difficult option.. Warnings of the danger of floating the Iraqi dinar without achieving an
» Trade from the “Economic Committee” with Türkiye: It will overcome all obstacles facing the traders
» Washington's hope for stable relations with Baghdad clashes with Iraqi parties' rejection of the Ame
» Karim Badr: Development is America’s will to kill silk
» Oil: Opening of a new port for liquid gas for vehicles in Baghdad
» A media advisor warns of corruption in a draft law on the Parliament’s agenda
» Economist: There is serious work to lift US sanctions on Iraqi banks
» Will the agreements signed with the US Treasury reflect positively on the exchange rates?
» Iraq continues its quest to join the World Trade Organization
» Iraq completes the completion of the files for the initial offer of goods and services to join the W
» Economist: Travelers' dollars are leaking into the parallel market...and this is what the Central Ba
» President of the Federal Court: It is not permissible to force anyone to join any party, and the pol
» The Council of Ministers holds its session headed by Al-Sudani
» America weakens Baghdad...and increases Kurdistan's military capabilities
» The Iraqi government plans to build 10,000 schools throughout the country
» American threats close the Iraqi Stock Exchange at a loss
» Increase in external transfers at the Central Bank
» Al-Maliki calls on Britain to cancel restrictions on the entry of its companies into Iraq
» Planning and the European Union are discussing signing a number of agreements in the development, en
» Parliament talks about the mechanism for recovering smuggled funds and hints at the next stage
» Interior Ministry: The number of completed national cards reached 37 million cards
» Amnesty International: Violations of freedom and human rights continue in Iraq and the Kurdistan Reg
» Parliamentary Oil: The government is proceeding with the decision to raise the price of improved gas
» A parliamentary committee in Basra to investigate violations of the port company and the local gover
» Revealing the 10 most important American exports to Iraq
» A noticeable increase in the rate of Iraq's import of Chinese cooling devices
» Prime Minister: Working on projects without completing the infrastructure is a waste of money
» Iraq.. Extending the deadline for registration procedures on plots of land
» What is the main purpose of conducting the population census in Iraq?
» A plan to transform Iraq from a barren land to green with 5 million trees
» The Housing Fund announces the acceptance of more than 11 thousand loans through the Ur platform
» The Bank of Baghdad is moving to increase its capital to 400 billion dinars
» The electronic payment system will soon be adopted on Iraqi buses
» “It threatens our interests and destroys our economy.” An Iraqi project “irritates” the Kuwaiti stre
» Warning from the Central Bank about “misuse of electronic payment cards”
» Iraq and the Sultanate of Oman are discussing sending capacities through the Gulf countries
» The fact that a decision was issued to deport Syrian workers from Iraq
» Rice comes first... America exports 10 foodstuffs worth more than 350 million dollars to Iraq
» A sixth licensing round for gas exploration
» Baghdad is preparing to host the 50th session of the Arab Labor Conference
» Scientific symposium on the future vision of the tripartite budget
» Five conversion power stations enter service in Najaf
» Planning: Conduct a population census next November
» Experts: Spreading misleading information harms development and investment
» Economists call for tightening money laundering laws and port controls