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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
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.