Posts Tagged ‘mena’

BAGHDAD — The Iraqi banking sector is set for significant earnings and asset growth over the next decade driven by a strong macro environment, increasing credit penetration and the improving security situation in the country, a new report released by Sansar Capital Management LLC said.

With the International Monetary Fund (IMF) forecasting Iraq’s GDP to grow at a rate of 9 percent in 2013, the banking sector in particular is expected to maintain steady growth over the next few years, the report said on Thursday. (more…)

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Examined the General Secretariat of the Council of Ministers with a delegation and U.S. Treasury reform the financial and banking situation in Iraq, while The Deputy U.S. Treasury Secretary his country’s support for the international transfer of expertise relating to the conduct oversight and control over the movement of funds and the fight against money laundering.

The Secretary General of the Council of Ministers on the Keywords in a press statement on the sidelines of a meeting with Deputy U.S. Treasury Secretary David Cohen and his entourage, and received “Alsumaria News” copy of it, he “discussed with the delegation reform financial situation and banking in Iraq,” noting that “the meeting dealt with support financial and banking system in Iraq and the review of Iraq’s efforts in the anti-money laundering activity. ”

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Date: 2013-02-25 19: 07: 50 Monday

Baghdad (newsletter).Search Cabinet Secretary Ali Mohsen Ismail on Monday with a delegation from the US Treasury Department, headed by Deputy Minister Mr. David Cohen and his entourage, ways to support the financial and banking system in Iraq and review Iraq’s efforts in combating money-laundering.

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Editor: MM Monday, 25 February 2013 15:29 GMT

Baghdad examined the General Secretariat of the Council of Ministers, on Monday, with the delegation and the U.S. Treasury reform the financial situation and banking in Iraq.

while The Deputy U.S. Treasury Secretary his country’s support for the transfer of international experience relating to the conduct oversight and control over the movement of funds and the fight against money laundering. (more…)

Thursday, 06 December 2012 07:36 | |

London / Orr News

In November 2012 publication of the Institute of British Egatom his own index (annual prosperity), which covered 142 countries. Index is divided into eight categories are the economy, the efforts of business, governance, education, health, safety and security, personal freedom, and social capital. (more…)

10.10.2012 12:00 AM

BAGHDAD / future Iraqi
A senior official at the International Finance Corporation of the World Bank that the organization plans to increase its investments in Iraq in addition to Yemen, and North Africa next year to contribute to the support of development and job creation.

Said Vice President of the Foundation for Europe, the Middle East and North Africa Dimitris Tsetserajus that “his organization plans to invest nearly $ 100 million next year in the OPEC member Iraq, which holds the fourth largest oil reserves in the world, “he said, adding” we have invested so far $ 400 million in Iraq and we are planning to invest more next year. ” (more…)

Published: Mar 11, 2012 23:41 Updated: Mar 14, 2012 20:01

DOHA: The GCC’s hydrocarbon reserves are estimated to be worth around $65 trillion at current export prices, based on new analysis from QNB Capital. This is almost a third of the $200 trillion value of world oil and gas reserves.

To put $65 trillion in context, it is equivalent to 47 times the GCC’s estimated GDP in 2011, or 93 percent of global GDP. It is also 125 times the estimated $521 billion that the region’s governments received in oil and gas revenue during 2011. (more…)

Date : 3/17/2012

By Hani Al-Bahrani

(with photos) KUWAIT, March 17 (KUNA) — Since joining the World Bank (WB) in 1962, Kuwait has been an important opinion-maker and significant shareholder, said Vice President of the Middle East and North Africa (MENA) at the Bank Inger Andersen.

In an exclusive interview with Kuwait News Agency (KUNA), Andersen said that the main purpose of her visit is “to listen” and get a better understanding of the progressing relationship between Kuwait and WB. (more…)

WASHINGTON: International Monetary Fund chief Christine Lagarde yesterday said economic growth in the Middle East and North Africa must include all members of society to fulfill the promise of the Arab Spring. Lagarde, in a speech in Washington, said the Arab Spring that began a year ago in Tunisia was at a “delicate transition point” as the MENA region seeks to define its future. “While each country in the region must find its own path to change, the over-arching economic goals of the Arab Spring remain clear-higher growth, growth that creates more jobs, and growth that is shared equitably among all strands of society,” she said.

The IMF managing director said that, despite some setbacks in the region, she remained “ever hopeful” that the Arab Spring is still poised to unleash “the potential of a better future for all.” However, the region faces challenges after governments reacted to social pressures by increasing subsidies, wages and other subsidies, which has undermined economic stability. “Fiscal deficits have widened, which raises concerns about sustainability. It pushes up interest rates, which makes it harder for the private sector to get credit to set up or expand businesses and start hiring people,” Lagarde said in a speech at the Woodrow Wilson Center. (more…)

Alsumaria News / Baghdad asked the International Monetary Fund on Sunday, the Iraqi government to supervise the Iraqi banking system for taking damage growth prospects in the country, adding that most commercial banks do not work be acting, and some are selling cars, as called for Iraq to appear diversified economies if he wants to attract investments and provide jobs “for millions of people.”

A report passed by the World Bank and presented on the sidelines of the IMF and World Bank held in Washington, said that “the Iraqi banking system damage growth prospects in Iraq, must be developed in order to attract foreign investment and diversify the economy of oil-producing , “asserting that” there are seven state-owned banks dominate the banking system has 89% of bank deposits in the country.”

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25/09/2011 12:08

Erbil, 25 September / October (Rn) – The international lending agencies on Saturday that the Iraqi banking system damage growth prospects in Iraq must be developed in order to attract foreign investment and diversify the productive economy of oil.

A report passed by the World Bank said that seven state-owned banks dominate the banking system and has 89 per cent of bank deposits in the country, according to the reported “Reuters.”

Experts said many of these banks provide limited services and most commercial banks do not be acting work and some selling cars.

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Sunday, Sep 04, 2011

DUBAI (Zawya Dow Jones)–Arab finance ministers will gather for an “exceptional meeting” in the United Arab Emirates Sept. 7 to discuss global economic developments and political changes across the Arab world, and their implications on regional economies, the U.A.E.’s finance ministry said Sunday.

The Council of Arab Ministers of Finance meeting, to be held in the U.A.E.’s capital Abu Dhabi, will discuss the agenda for reform of the global economic and financial system, issues pertaining to the Arab world, and Abu Dhabi’s initiative for restructuring Arab economies and strengthening inter-Arab economic relations among other issues such as food security, the finance ministry said in an emailed statement.

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Is the economic miracle achieved an Arab?
04/07/2011 9:45

From an economic perspective, the Arab spring blow to the region. Investors are cautious, and there is a big question mark hovering over the prospects of development. But the World Bank experts are convinced that the Middle East and North Africa still has huge growth potential.

To prove this point of view, preferably Dimitris Tsetserajus cited the example of the unexpected, Iraq, where he says the new Vice President of International Finance Corporation, the Middle East and North Africa, the largest arm of the Investment Bank, the country’s troubled «seems to be vanished from view in the current period».

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Update:  CBI Governor Shabibi will speak June 23rd at 12:30 pm (Agenda: Link)

THE INTERNATIONAL ARAB BANKING SUMMIT (IABS) 2011

The Union of Arab Banks and Associazione Bancaria Italian will host the annual International Arab Banking Summit (IABS) for 2011 in Rome-Italy on the 23rd – 24th of June 2011.

The Summit is the annual international platform for ministers, governors of central banks, leading bankers, decision-makers and representatives of public and private sectors from various continents to meet and discuss issues of concern to the international banking community and wider world economy.

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By Stephanie McCrummen
Washington Post Staff Writer
Friday, March 4, 2011; 12:00 AM

BAGHDAD – Among the revolts sweeping the Middle East and North Africa, Iraq’s has been an exception: Here, protesters are seeking to reform a democratically elected government, not to topple an autocrat.

But protesters, human rights workers and security officials say the government of Prime Minister Nouri al-Maliki has responded to Iraq’s demonstrations in much the same way as many of its more authoritarian neighbors: with force.

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by NPR STAFF AND WIRES

March 3, 2011

Unrest has swept across the Middle East and North Africa, sparked by an uprising in Tunisia that led to the ouster of the country’s ruler. Here’s a look at the countries where protests have sprung up.

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Gold prices rose to near record levels on the New York Spot Market on Tuesday as unrest in Libya and concerns about inflation globally spurred demand for the metal as a “safe haven” asset. As of 9:45 AM Pacific Time, gold prices were up over $18 per ounce to $1,431. Silver prices also advanced to their highest level since 1980.

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  • Popular protests could unleash greater long-term growth potential in region
  • More transparency, competition will help Egypt, Tunisia leverage their strengths and create jobs
  • Governments in region are increasing fiscal spending in response to unrest (more…)