Asiacell owns and moving strongly in the financial sector .. experts and officials warn to monitor t

Asiacell owns and moving strongly in the financial sector .. experts and officials warn to monitor the investments of Qatar in Iraq



Baghdad, Mohammed Amrani, Nihad Jassim called .. officials and Iraqi experts need to take charge of security institutions and the regulatory responsibility seriously to ensure the accuracy and integrity of the work of investment destinations, such as the State of Qatar, which is active in the telecommunications sector and money in Iraq.


The Qatar National Bank owns more than half the shares of the Bank of Baghdad's Mansour, making the country the bank is the owner, as well as owning Qatar Asiacell to service mobile phones.

This matter raises questions about the extent of the impact of the foreign policy orientation of the Qatari government in the financial sector and telecommunications in Iraq.

Al-Mansour Bank and the (mostly owned by Qatar National Bank) has increased the profits of the pre-drawing by 129 percent to 368 percent increase in investment returns in the year 2013.

A group of Qatar National Bank (QNB) announced on 23 April 2012 he obtained the consent of the Iraqi Central Bank to increase its stake in Mansour Bank for Investment of the Republic of Iraq from 23% to 51%.

Al-Mansour Bank and issued a statement on 26 May of the year 2012, in which he said that the Board of Directors of the bank, "juggle to reach an agreement with the administration of a group of Qatar National Bank to raise its share to 50.7% through the issuance of (85) eighty-five billion shares at a price (1600) JD one and six hundred fils per share allocated to Qatar National Bank, in accordance with Article 56 / IV of the Companies Act No. 21 of 1997 as amended. "

Based on this agreement, Qatar National Bank Group increased "from its representatives on the board of Al-Mansour Bank and according to the size of the shares owned by it."

The government owns the country of Qatar National Bank and Qatar Telecom, which in turn owns Asiacell mobile phone in Iraq.

I tried the "world" contact Bank of Mansour, but the bank did not respond to repeated requests.

Hilal Taan, director of the banks in the Ministry of Finance, said "the world" in a telephone conversation that the general objection to "Qatari investments in the sectors of finance Iraq, or other projects comes from the door of the positions of the Qatari government to the Iraqi people since the year 2003 to now."

He expressed regret at "severe" from "negative attitudes on the part of the Qatari government towards change in Iraq."

He said that for this reason, "seen by some of those investments in banks [country] to where it is not welcome."

He considered "the Qatari government to improve its relations with Iraq, especially given that the investment market for our promising, both in the banking sector or in other sectors."

He pointed out that "he is supposed to consider the Qatari government to their advantage," noting that "there is no economic partnership successful without good relations between the two countries."

He said the "investment, which is between the two banks of the Iraqi [Mansour] and country is the ratio of 49 to 52, and to be agreed between the Board of Directors of the bank about any party takes the ratio of 51 percent, it takes 49 percent, and are almost equally, and this ratio determines to be a bank an Iraqi or diagonally. "

Finance and economics expert, Majid picture, said the nature of the relationships and attitudes about political control significantly the extent of the success of the investment. The "State which has good relations with Iraq a chance to be the success of its investments in the country better than the state of Iraq's relations with tense or not so good."

He pointed to the contribution rate determines the "ownership". He said that "if they contribute less than 50 percent is considered a purely Iraqi bank, either if the contribution rate of more than 51 percent of the bank shall be continued to the foreign bank."

And the fear of possible consequences for partnership and investment with Qatar in particular, saw the picture said, "There is no grounds for any fear."

However, it pointed to the need for a precise and regulations specific law on "the contribution rate and the proportion of foreign capital to total capital of Iraqi banks, provided that taken into account the contribution of foreign banks in the banking sector of Iraq."

But it seems that some of the members of the Finance Committee in the Iraqi Parliament, "ignorant" already having a financial investment in the country of Iraq.

Member of the Finance Committee, the parliamentary deputy Abdul Hussein al-Yasiri, for example, said "the world" that he "does not have sufficient information on the purchase of Bank Group, Qatar National Bank shares Mansour, lifting shares of the Bank Group in the country."

But Yassiri said, "The Banking Law in Iraq passed a joint bank to be subject to approval by the Central Bank."

It is strange that Yassiri said, "not necessarily to be the Qatari government is lifted from the roof of its shares, but may be Qatari citizens."

He Yasiri that "banks and global destination, and the right of any party to invest in accordance with the conditions and laws."

He said, "Iraq, for example, has a number of banks in some countries; Emirates and Cairo, Yemen, Oman and London."

Asked for "the world" yesterday about the possibility that the owner controls the quota policy, the Supreme bank, Yasiri said that "the Bank is composed of the founders and the Board of Directors who have the highest shares."

He said, "There is a theory weak [says] to separate owners for the administration so as not to draw the bank owners by their own liking."

Yassiri "The Banking Act passed in Iraq for foreign banks to open branches, but the objection here recorded about those branches that move their capital out of Iraq."

Economic expert, on behalf of Antoine, said "the world" that the investment and "the existence of quotas and shares in Iraqi banks" is a good thing.

Antoine and saw that "it is necessary to separate economics from politics, and to encourage business, which strengthens the economic base and improve the environment."

But he pointed to "the condition that governs the process of investment laws and conditions determined by the Banking Act, the legislator," and that "the remaining capital in banks under tight control in order not to be used in the operations of terrorism and money laundering."

And reduced the "fears" of the political orientations of the shareholders and stockholders "if subjected to the supervision of the competent authorities, such as the central and the Ministry of Finance and the security authorities."

Antoine stressed the "Do not allow the occurrence of economic relations in the vortex of political action," so that the "confusion" between the two, as seen Antoine "makes the issue of upgrading the Iraqi investment impossible."

He said that "all the world's problems and interference in different political but economic activity remains in place."

He added that "any investor is welcome, but the banking regulators Central Bank and the Ministry of Finance and the security and surveillance departments are doing their job."

Undersecretary of the Ministry of Finance, Fadhil Nabi Othman, said "the world" that "wants the advancement of the economic reality of the country that it opens the doors wide for investment in accordance with the terms and Systems guarantees the right of both parties."

Osman said the prophet in a telephone conversation that "the Iraqi banking sector is witnessing significant growth after that opened some of the doors of private banks and twinning partnership with Arab and foreign banks."

He noted that "despite the novelty of the experience, but it is a step development for the benefit of the Iraqi economy."

He pointed out that "investment projects in the Iraqi banking sector began your Tzhada significantly, and increased the number of banks rose high, up to three times the number before the year 2003." Finished / 3

Updated: 03/26/2014 20:14

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