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The TBI launches its strategy for the years 2017-2019


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The TBI launches its strategy for the years 2017-2019

Post by rocky on Mon 21 Aug 2017, 3:25 am

The TBI launches its strategy for the years 2017-2019

21/8/2017 12:00 am

Baghdad / Farah Al-Khafaf
The Iraqi Bank of Commerce ( CBK) launched a strategy for the years 2017-2019 to expand the bank's operations locally and internationally and to maximize its profits by developing the bank's young cadres.
Director General of the Iraqi Trade Bank, Faisal Al-Hims, said: "The Bank intends to expand the Bank's business in addition to four new branches, providing 350 new jobs, preparing and launching structured policies and procedures for the various departments in the Bank's general administration. Of these sections, as well as the signing of a memorandum of understanding with Ahli United Bank (AUB) to develop and strengthen technical and strategic cooperation with the bank's correspondent banking partners. "
The new strategy will be based on a cross-objective management system to assess job performance and reward outstanding employees in their performance and to further train the Bank's staff by investing in training them to perform their job duties in accordance with the best performance in advanced banks in the world. (139) training courses inside Iraq and (26) training courses outside, since the beginning of the current year 2017. The
Bank also seeks to expand the management of expenses of operations by rationalizing spending, by saving 8.4 billion dinars annually, canceling the contract of the parent company The intention of private and secure the bank's protection by the security forces as well as investment property and real estate bank instead of leased branches.
As for the achievements of the bank on the financial level, the achievement of the most important objectives in this regard, increase the capital of the bank from (1,750) trillion dinars to (2,750) trillion dinars, announced by Prime Minister Dr. Haider Abadi recently, in addition to conversion (50 percent) of net The bank's annual profit for the year 2016 amounted to JD (268,283) billion to the Ministry of Finance last April.
The Bank of Iraq continues to collect its outstanding debts from the date of the current administration's responsibility, which amounted to a total of $ 345,031 million and JD 57,263 billion, of which $ 166,095 million, And (36.446 billion dinars) for the period from 2 January 2017 to 30 June 2017.
The bank continues to collect commissions to the income account without actually being collected, reaching $ 18,650 million out of $ 24,750 million since the current management of the bank began its work in June 2016.
The Bank implemented the directives of the Prime Minister to support the private sector. He also deducted the bonds issued to the contractors by the Ministry of Finance and net profit for the current half of the year 2017 amounted to 169.943 billion dinars until 30-6-2017.
The Iraqi Trade Bank (BTI) has been involved in the international bond issuance of US $ 1 billion, along with the world's largest banks (Citibank, JPMorgan and Deutsche Bank).
Faisal Al-Hymes, general manager of Faisal Al-Hims, said in a statement to Al-Sabah: "Government bonds have been included in the international market of Ireland, confirming that the subscription can not be increased to $ 1 billion. The current bond issue is included in the supplementary budget for the current year 2017. So law by Parliament and ratified by the government. "
He also pointed out that the benefit of this low-cost financing will be directed to the reconstruction of liberated areas, calling at the same time the private banking sector to stimulate and diversify its business, in this area, similar to the Iraqi Bank for Trade (TBI).

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