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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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    AN IRAQI PLAN TO ATTRACT $100 BILLION IN FOREIGN DIRECT INVESTMENT

    Rocky
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    • Post n°1

    AN IRAQI PLAN TO ATTRACT $100 BILLION IN FOREIGN DIRECT INVESTMENT Empty AN IRAQI PLAN TO ATTRACT $100 BILLION IN FOREIGN DIRECT INVESTMENT

    Post by Rocky Mon 13 Dec 2021, 6:38 am

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    Iraq

    [size=38]AN IRAQI PLAN TO ATTRACT $100 BILLION IN FOREIGN DIRECT INVESTMENT[/size]


    Monday, December 13, 2021 2:03 PM
    Baghdad/National News Center
    Today, Monday, the Central Bank of Iraq announced that the volume of trade exchange between Iraq and the UAE has exceeded 15 billion dollars during 2020, while noting that Iraq is seeking to attract 100 billion dollars in the sectors of transportation, energy and agriculture.
    The Governor of the Central Bank, Mustafa Ghaleb Makheef, said, in his speech at the Iraqi-Emirati Banks Forum, which was followed by the “National News Center” agency, that “the forum aims to strengthen partnership and cooperation between Iraq and the UAE, as the UAE is the main entrance for cargo ships towards Iraqi ports and the financial partner.” And the main commercial in the import and export movement towards Iraq,” noting that “the volume of trade exchange between the two countries exceeded 15 billion dollars during the year 2020, in addition to settling a large part of Iraq’s imports through commercial institutions in the UAE, which necessitates the need to regulate the movement of funds and foreign trade. Between the two countries".
    He added, "There are a number of Iraqi and Emirati banks operating in the two countries, and we look forward to strengthening the presence of Iraqi and Emirati banks by licensing branches in both countries to attract mutual financial operations and contribute to supporting the economy."
    He continued, “The Iraqi banking sector is one of the most promising sectors in terms of growth opportunities and its ability to attract financial operations and provide banking services to citizens,” noting that “Iraq seeks to attract $100 billion in the transport, energy and agricultural sectors.”
    The governor stressed that “Iraqi banks, under the guidance of the Central Bank of Iraq, have been keeping pace with international banking standards, applying institutional governance, attracting competent competencies and cadres, adopting compliance standards, combating money laundering and terrorist financing, applying international accounting standards, increasing accounting disclosure and transparency in providing information, and implementing the recommendations of the Basel II and III Committee. “.
    While the head of the Emirates Banks Federation, Abdul Aziz Abdullah Al Ghurair, said, “Iraq is the sixth trading partner of the UAE, and we see a great trend from the Central Bank of Iraq to support the relationship between the banking sector in the two countries,” adding that “the Banking Union is ready to exchange experiences with the banking sector.” Iraqi".
    He stressed that "the size of the UAE banking sector is more than 1.65 trillion dollars, and this makes it very strong in the financial market, and supports the non-oil economy," noting that "the UAE banks are ready to work with Iraqi banks and achieve partnership to serve the two countries."
    The head of the Iraqi Private Banks Association, Wadih Al-Handal, stressed that "the Iraqi banking work is in continuous development under the supervision and guidance of the Central Bank of Iraq, which applies the highest standards of control and governance and creates a strong base of banks that serve the goals and strategy for the advancement of the Iraqi economy."
    He added, "We aspire, through this forum, to open a new door of mutual banking relations and open mutual accounts between the two parties," noting that "Iraqi banks possess high-level systems in addition to their application of anti-money laundering and terrorist financing laws."
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