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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The Saudi Fund for Development grants a 5-year financing line for the National Bank of Iraq

    Rocky
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    • Post n°1

    The Saudi Fund for Development grants a 5-year financing line for the National Bank of Iraq Empty The Saudi Fund for Development grants a 5-year financing line for the National Bank of Iraq

    Post by Rocky Sun 30 May 2021, 6:42 am

    [size=35][size=35]The Saudi Fund for Development grants a 5-year financing line for the National Bank of Iraq[/size]
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    The Saudi Fund for Development signed a revolving financing line agreement worth 10 million dollars with the Iraqi National Bank of the Capital Bank Group, for a period of 5 years, in the Jordanian capital, Amman. The agreement was signed by the CEO of the Saudi Fund for Development, His Excellency Mr. Sultan bin Abdul Rahman Al-Morshed, and the Chairman of the Capital Bank Group, His Excellency Mr. Basem Khalil Al-Salem, in the presence of a number of senior employees from both sides. The signing of the agreement was also attended by the Iraqi ambassador in Amman, His Excellency Mr. Haider Al-Athari, and the Director General of the Investment Department, Dr. Mazen Sabah Ahmed, representing the Central Bank of Iraq.


    Under the agreement, the Saudi Fund for Development will grant the National Bank of Iraq a revolving financing line of $ 10 million to import various goods and services of Saudi origin for the benefit of the bank’s clients from companies importing these goods and services, with a financing rate of 100% of their value, and a payment period of up to 36 months depending on the type of imports and the nature of the operation.





     
    Following the signing of the agreement, the Chairman of the Capital Bank Group, His Excellency Mr. Basem Khalil Al-Salem, expressed his appreciation for the efforts made by the Saudi Fund for Development by supporting and financing development projects in Iraq and stimulating trade relations between the two brotherly countries, noting that the role of the fund reflects the orientations of the Kingdom of Saudi Arabia. The historic center and its continuous support for the joint Arab action and contributing to achieving Arab economic integration.

    Al-Salem added, "This agreement will undoubtedly contribute to increasing trade exchange between Iraq and Saudi Arabia by providing credit facilities to importers to import Saudi products and services of high quality at competitive prices to the Iraqi market." Stimulating the financial and commercial sectors.

     

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    For his part, the CEO of the Saudi Fund for Development, His Excellency Mr. Sultan bin Abdul Rahman Al-Murshid, affirmed that this agreement confirms the brotherhood bonds between the Kingdom of Saudi Arabia and the Republic of Iraq and a desire to enhance cooperation between them in various fields. This agreement is part of what has been allocated by the Kingdom's government to support the reconstruction and development in Iraq, which exceeds an amount of (1.5) billion US dollars. It is also consistent with the objectives of the fund to diversify sources of national income and increase the volume of non-oil exports of goods and services of Saudi origin, indicating that The agreement will open new markets for Saudi producers to promote their high quality and competitive goods and products. 

    About the National Bank of Iraq  

    The National Bank of Iraq, owned by the Capital Bank of Jordan Group since 2005, provides a comprehensive range of innovative banking services for companies and individuals in Iraq. Thanks to its wide network of correspondent banks, Capital Bank represents the gateway to the National Bank of Iraq to global economies, as it facilitates sending and receiving internal and external transfers, granting credit facilities, and providing trade finance services, and the Iraqi National Bank can trade for the benefit of its customers in the Jordanian market and in global markets from Through Capital Investments, the investment arm of Capital Bank - as well as providing trading services on the Iraq Stock Exchange through its wholly owned subsidiary, the Iraqi Money Brokerage Company.
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    • Post n°2

    The Saudi Fund for Development grants a 5-year financing line for the National Bank of Iraq Empty The Saudi Fund for Development grants a 5-year financing line for the National Bank of Iraq

    Post by Rocky Sun 30 May 2021, 8:04 am

     The Saudi Fund for Development grants a 5-year financing line for the National Bank of Iraq

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    The Saudi Fund for Development signed a revolving financing line agreement worth 10 million dollars with the Iraqi National Bank of the Capital Bank Group, for a period of 5 years, in the Jordanian capital, Amman.
    The agreement was signed by the CEO of the Saudi Fund for Development, Sultan bin Abdul Rahman Al-Morshed, and the Chairman of the Capital Bank Group in the name of Khalil Al-Salem, in the presence of a number of senior employees from both sides, and the signing of the agreement was attended by the Iraqi ambassador in Amman Haider Al-Athari, and the Director General of the Investment Department, Dr. Mazen Sabah Ahmed, representing For the Central Bank of Iraq.
    Under the agreement, the Saudi Fund for Development will grant the National Bank of Iraq a revolving financing line of $ 10 million to import various goods and services of Saudi origin for the benefit of the bank’s clients from companies importing these goods and services, with a financing rate of 100% of their value, and a payment period of up to 36 months depending on the type of imports and the nature of the operation. 
    Following the signing of the agreement, the Chairman of the Capital Bank Group, Basem Khalil Al-Salem, expressed his appreciation for the efforts made by the Saudi Fund for Development by supporting and financing development projects in Iraq and stimulating trade relations between the two brotherly countries, noting that the role of the fund reflects the historical orientations of the Kingdom of Saudi Arabia and its continuous support. To march joint Arab action and contribute to achieving Arab economic integration.
    Al-Salem added, "This agreement will undoubtedly contribute to increasing trade exchange between Iraq and Saudi Arabia by providing credit facilities to importers to import Saudi products and services of high quality at competitive prices to the Iraqi market." Stimulating the financial and commercial sectors. 
    For his part, the CEO of the Saudi Fund for Development, Sultan bin Abdul Rahman Al-Murshid, affirmed that this agreement confirms the brotherhood bonds between the Kingdom of Saudi Arabia and the Republic of Iraq and a desire to enhance cooperation between them in various fields.
    This agreement is part of what has been allocated by the Kingdom's government to support the reconstruction and development in Iraq, which exceeds an amount of (1.5) billion US dollars. It is also consistent with the objectives of the fund to diversify sources of national income and increase the volume of non-oil exports of goods and services of Saudi origin, indicating that The agreement will open new markets for Saudi producers to promote their high quality and competitive goods and products.

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