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


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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Subscription to the Iraqi Credit Bank begins

    Rocky
    Rocky
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    • Post n°1

    Subscription to the Iraqi Credit Bank begins Empty Subscription to the Iraqi Credit Bank begins

    Post by Rocky Sun 14 Jul 2024, 5:06 am

    Subscription to the Iraqi Credit Bank begins

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    Iraqi Credit Bank logo



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    Today, Sunday, the subscription for shares of the Iraqi Credit Bank began, with the aim of increasing its capital to 325 billion dinars.
    The Credit Bank said that in implementation of the General Assembly’s decision to increase the capital from 250 billion to 325 billion, this will be done by transferring funds from the accumulated surplus amounting to 18 billion dinars into shares and issuing new shares offered for subscription in the amount of 57 billion dinars.
    The bank confirmed that the subscription is open to shareholders and the public.
    It is noteworthy that the Iraqi Credit Bank announced at the end of last year that the National Bank of Kuwait had paid an amount of 50 billion dinars as a first installment under the capital increase account on its own behalf and on behalf of all shareholders until the bank’s general assembly convenes.
    On August 3, 2023, the Central Bank of Iraq directed local and foreign banks to increase their capital, or “merge or liquidate” if they are unable to do so.
    A document issued by the bank stated that, "Based on the decision of the bank's board of directors No. 27 of 2023 in its session No. 1628 held on 7/18/2023, it was decided to increase the capital of banks to no less than 400 billion dinars within a maximum period of December 31, 2024, in three installments, provided that each installment is not less than 50 billion dinars on December 31, 2023, June 30, 2024, and December 31, 2024."
    The document indicated that the bank may make the increase in one installment within a maximum period of December 31, 2023, noting that "the operating capital of foreign bank branches shall be increased by no less than 60% of the operating capital within a maximum period of December 31, 2023."


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