Posts Tagged ‘World Bank’

MPs and experts in favor of warnings from the International Monetary Fund Iraq’s dependence on oil

Warned parliamentarians, economists and oil, last Sunday, of the consequences of Iraq’s dependence entirely on oil, and have expressed their support for the report by the International Monetary Fund on the performance of the local economy, and while confirming the parliamentary Finance Committee that they had already informed the government repeatedly remarks similar without having any reaction because the officials “lack insights economic future”, he saw an economist that the problem of Iraq’s funds is that they “run around irrational,” warned an oil expert of the consequences of non-crystallizing economic vision for the future. (more…)

23-12-2013 10:27 AM

Baghdad (newsletter). The parliamentary Finance Committee, stressed that Iraq is not in need of international financial loans, indicating that loan by the World Bank and the (355) million dollars for Iraqi economic policy link. (more…)

18 Dec 2013

Overall Rank of 151

For the last few years World Bank is publishing its Doing Business report on laws rules, and taxes that regulate business around the globe. So far, Iraq has done poor performances as per those reports. Previously the country was regulated by the autocratic dictator Saddam Hussein. The socialist state-run economy of Iraq was not up to the mark to attract the investors within the country. (more…)

20 Dec 2013
Iraqi parliament has authorized the establishment of an institute for financial and banking training to develop the skills of government banking sector employees and bring them up to date with the latest electronic systems and technologies.

On December 10th, the decision was announced, complementing the other training steps that would be taken by the ministry of Finance, stated by the parliamentary financial committee member Abdul Hussein al-Yasseri. (more…)

2013-12-17 By Khalid al-Taie in Baghdad

The Iraqi parliament has authorised the establishment of an institute for financial and banking training to develop the skills of government banking sector employees and bring them up to date with the latest electronic systems and technologies.

“Despite the enrolment of a number of their staff members in training courses and programmes inside the county and abroad, Iraqi banks are still in need of further efforts to train and develop human resources,” he said. (more…)

12/17/2013 0:00

adviser said the Iraqi Institute for Economic Reform, Dr. Ahmed al-Husseini: The Iraq today suffers from challenges burdened economy, the problems of countless proposed a number of solutions reformist to contend with.

said in a statement to the (morning) that failure to meet these challenges – according to a recent study prepared by the World Bank recently – has led to the deterioration and failure of the reality of the investment climate in Iraq, said that the study I mentioned the most important obstacles in front of increasing the productivity of companies operating in various economic sectors, was the lack of electricity supply, and instability, as well as financial and administrative corruption, as well as the problems of access to land, tax administration , inadequate educated workforce, the laws regulating the work of others. (more…)

On December 4, 2013

Amman: Iraq News Network – to coincide with the entry of the United Bank for Investment twentieth year in the Financial Action Task Force and the banking and the culmination of his activities and his outstanding efforts in establishing the rules of transparency pursued by the performance and mutations great achievements in the development of his work and its potential and intention sincere in contributing to the support and financing of economic development in all sectors (more…)

28-11-2013 04:37 PM
Baghdad (news) .. Search first deputy chairman of the Iraqi Parliament Qusay al-Suhail with a delegation from the World Bank, headed by the Regional Director of the World Bank Fred Belhadj, the development of human capacity and Iraqi banking systems in place in the country, as well as future plans for the institutions of the World Bank in Iraq. (more…)

27/11/2013 16:28

Iraqi Central Bank announced Wednesday, it will allow companies to broker the sale and purchase of foreign currency to enter the daily currency auction.

The relationship manager in the bank in favor of Mahood’s “Tomorrow’s Press,” said that “companies to broker the sale and purchase of foreign currency would be allowed to enter the daily currency auction through any bank operating in Iraq,” adding that “such a decision that opens up a large and important for domestic banks on the one hand and corporate financial intermediation on the other hand the freedom of action. ” (more…)

Central bank: zeros from the currency will not raise the lack of “appropriate circumstance”

Called on the Central Bank of Iraq, on Sunday, to “revisit” the laws of the banks and the Central Bank and the fight against money laundering, and attributed the cause to “address the problematic lack of challenge of the activity of banks and the World Bank in the management of the economy”, and pointed out that the zeros “will not lift from the Iraqi currency now for not suitable circumstance. “

The central bank governor said Abdel Basset Turki said in an interview for a number of media, on the sidelines of a workshop on the proposals to amend the Banking Act and the law of the Iraqi Central Bank and Amla, hosted by the bank in the Palestine Hotel in central Baghdad, said that “the importance of this workshop, which is held for the first time , is to review the laws written in exceptional circumstances and in an exceptional manner for nearly ten years and there are a number of comments made by the banks, “hoping that” all deficiencies are addressed. “

The Turkish that “country always needs to be new legislation and we have to think about legislation lasts for a long time to pay for greater stability and meet the requirements of development,” stressing the need to “rethink the laws of the three not only the laws of the banks, but Bank Law also the law against money laundering,” explaining that “The importance of the problematic address all deficiencies that limit the activity of banks and at the same time its developmental role in addition to the Central Bank’s role in the management of the economy.”

The central bank governor [said] that “the lifting of zeros from the Iraqi currency until now not on the cards because the envelope is not suitable justifications and still continue not to delete the list,” adding, “But when the central bank will decide to announce this matter.”

He continued Turkish “We have decided to exclude banks that have not a capital of 250 billion dinars, the central bank auction,” pointing out that “some banks embarked invite the General Assembly to raise its capital.”

Turki added that “the number of those banks does not exceed 5 banks and these exclusions are not immediate and final decisions,” asserting that “some banks made a pledge to raise its capital to 400 billion.” The CBI said on Sunday, seeking to amend the banking laws, including the proportional and the current situation, and pointed out that the money laundering law the most prominent laws that seek to modify it, while stressing that go to play the developmental role of the Iraqi economy. The Iraqi Central Bank revealed, on Sunday, the arrival of the foreign currency reserves of more than 88 billion dollars, indicating that it contributes to the stability of the dinar could be a “source of pride” for the Iraqis.

The Iraqi Central Bank revealed, earlier, his intention version Coins categories of small, indicating that those currencies, which may be issued sometime in the next year, will be written in Arabic and Kurdish, confirming the existence of a proposal for the issuance of Banknotes large value of fifty thousand dinars .

It is noteworthy that the Iraqi Central Bank was established as a bank independent under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are being daily sessions for buying and selling currencies. Finished / 3
Updated: 25/11/2013 16:00

11/12/2013 12:00 AM

Baghdad, Sabah Ahmed Abed Rabbo
, the Ministry of Finance to adopt labor-mail in government banks instead of the manual in collaboration with the World Bank within the project of restructuring the banks, while stressing the Land Bank that this process needs to control and audit electronic severe to prevent money laundering.

Said Deputy Finance Minister Fadhil Abdul-Nabi statement (morning) that the ministry is currently working on the adoption of the electronic system in the banking business, rather than manual in collaboration with the World Bank, within the project of restructuring the banks, adding that the system would connect Iraqi banks universality electronically. (more…)

Shukri looking with the World Bank stages of completion of project restructuring of State-owned banks.
07/11/2013 16:22:00
BAGHDAD / Nina /– Finance Minister Ali Yousef Shukri by interim discussed with a representative of the World Bank the mechanisms and controls the restructuring of State-owned banks in Iraq. (more…)

Screen Shot 2013-01-25 at 9.22.52 AMSuri calls to strengthen the Iraqi dinar and turn it into a currency is possible to deal internationally

October 22, 2013

Called banking expert Majid picture, today, to strengthen the Iraqi dinar and turn it into a currency is possible to deal at the international level, not just local.

He said the picture: that local الضروف and international inappropriate disengagement of the Iraqi dinar to the U.S. dollar, ruling out the success of the disengagement of the Iraqi dinar to the dollar being tied to the global system and the development of local industries and agriculture, then the right conditions will be available disengagement dinar to the dollar. (more…)


BSA announced federal, Sunday, announced its participation conference “INTOSAI” which will be held in China for the development of censorship, saying the conference is an opportunity to exchange experiences, opinions, and discuss important technical issues.

A press release said the bureau, received “Alsumaria News” a copy of it, that “the Chief of Staff Abdul Basit Turki headed a delegation to participate INTOSAI conference in China for the period from 19 to 27 October this.” (more…)

09/10/2013 16:44:00
Baghdad/ NINA /–Head of the Iraqi Central Bank Governor by interim Abdul Basit Turki headed Iraqi delegation to attend the annual meetings of the International Monetary Fund in Washington.

The central bank said in a press statement that ” Turki heads the delegation which arrived to the U.S. capital of Washington to attend the annual meetings of the International Monetary Fund ( IMF ) and the World Bank as governor of Iraq to the Fund.” (more…)

World trade bank10/04/2013

A survey conducted by the Iraqi Ministry of Planning for a significant increase in the proportion of school drop-out, in parallel with recording a marked improvement in the living conditions of citizens, compared with the 2007 indicators.

At the same time detect and Deputy Minister of Planning Dr. Mahdi Keywords for the high proportion of chronically ill patients to 12% of the total population, is also believed that more than 50% of adults living with diabetes without knowing it. (more…)

IMF: the transformation of the Arab Spring is the hardest and longest worldwide

Published on Friday, 04 October 1 / Okrudolf 2013 13:43

International Monetary Fund warned on Thursday, the repercussions of the Arab Spring on the global economy, expressing fears of continuing it for a longer period.

The Director of the International Monetary Fund (IMF) Crecyt Lagarde, in a statement quoted by Reuters news agency, said that “changes in the countries of the Arab Spring may be the hardest and the longest in the world. (more…)

Finance parliamentary looking with representative of the World Bank mission a number of issues related to the Iraqi economy
Saturday, September 28 / September 2013 15:06

Parliamentary Finance Committee considered with Mary Helen represented the World Bank mission in Iraq, a number of issues related to the Iraqi economy and its importance in absorbing and creating jobs.

According to a statement of the Commission has received all of Iraq [where] a copy of it today that “MP Haider al-Abadi Chairman of the Finance Committee met last Thursday in his private office at the headquarters of the Commission, Mary Helen representative of the World Bank mission in Iraq During the meeting, they discussed a number of issues related to the Iraqi economy and its importance in absorb and create jobs and give a greater role for the private sector. ” (more…)

09/22/2013 12:00 AM
Association of private banks to mobilize domestic and international effort to promote the financial sector
In order to achieve development bank

BAGHDAD – Hussein ثغب Tamimi
seeks Association of private banks in Iraq pursuit of financial sector development through mobilizing specialists in the matter banking domestic and foreign through the Conference of the Iraqi banking first that works to discuss paths advancement of the banking and mechanisms to contain all the determinants that negatively affect his career access to international banking services and reversible in our banks.
conference the first (more…)

Romanian capital Bucharest
Roman World Bank opens first branch of the Iraqi bank in Europe

09/17/2013 13:43

Range Press / Baghdad
Minister of Finance announced the agency Ali Yousef Shukri, on Tuesday, the approval of the World Bank Roman to open the first branch of the Iraqi bank in Europe, returned to step will be important for the work of Iraqi banks in Europe, and will allow the Iraqi citizens abroad to deal with and provide all facilities to investors. (more…)

filemanagerThe Finance Committee, unveiled Wednesday, that 2014 will delete the zeros of the Iraqi currency, indicating that deleting will be in coordination with the Central Bank.

Committee member Abdul Hussein Al-yasiri in a press statement that “the deletion of zeros from the local currency will start in 2014, by agreement with the Central Bank”, stating that “this project will reduce the rate of the national currency in circulation from 4 billion to 1 billion. (more…)

Saturday, August 24 / August 2013 15:01

The Ministry of Human Rights said more than six million of Iraq’s population is under the poverty line.

According to a ministry statement received by all of Iraq [where] a copy of it on Saturday that “the National Centre for Human Rights in the Ministry of Human Rights prepared a report addressing the average spending per capita monthly and severity of poverty in Iraq, according to the environment and the extent of the disparity between the provinces in addition to the dimensions of the main poverty-related unemployment and illiteracy, and at the direction of human rights minister Mohammed Xiaa Sudanese. ” (more…)

Economic parliamentary: the need to open branches of foreign banks in Iraq to attract big investors
A member of the Economic Committee MP Jassim شنكالي, said that “the banking sector in Iraq is very modest and Ajriqa to the level of other countries, stressing the need to open branches of foreign banks in Iraq.” (more…)

Report of the International Monetary Fund (IMF) / Mohammed Sharif Abu Mayssam

Published on Thursday, 01 August / August 2013 20:03
Did not bring the report of the International Monetary Fund recently released a new, could refer to the new features of evolution or a citizen of the defect, unknown in the body of the Iraqi economy, in spite of rumination with sentences and words. (more…)

With tens of millions of potential customers who have only a few of them bank accounts, it has become Iraq represents an ambitious target of banking institutions, especially that the Iraqis are now looking to banking services is greater than those available to them.

However, the long-standing laws, and the majority of banks controlled by the government, and weak infrastructure for this sector, in addition to a huge number of other obstacles, political Kaerak ongoing and deteriorating security situation, make the banking activity in the country is not guaranteed results. (more…)

Experts: the opening of branches of international banks have a positive economic impact

See financial experts and bankers that the poor efficiency of local banks and not keep abreast of developments witnessed by the banking sector in the world to make way for international banks to open branches in the country, as revealed announcement bank Citigroup and American Standard Chartered, the British period, the last few years their intention to expand into the Iraqi market, what تختزنه Last of the great potential of the banking sector in this country, is that the experiences of some foreign banks in Iraq calls for caution to avoid some of the problems.


24-07-2013 01:24 PM

Baghdad (newsletter). The Iraqi Central Bank announced the auction of foreign currency on Thursday and Saturday.

The Bank said in a statement it had received (News Agency): the World Bank has decided to maintain its Forex daily, Thursday, July 25, as a normal working day.

He added: the time Bank will also auction for Saturday, July 27.

Central Bank of Iraq, the World Bank praised the draft reform of the banking sector in Iraq.

The bank said in a statement received news agency public opinion (and babysit) a copy of the bank received a letter from the World Bank praises the report issued by the international auditing firm for the final financial statements of the draft reform of the banking sector in Iraq. (more…)

World trade bankThe World Bank said in its latest report this week that Iraq moved to the upper-middle-income countries, according to the latest classification based on the estimates of per capita gross national income (GNI) in the previous year.

And adopt the World Bank classifications of income by per capita gross national income (GNI) as follows:

Low-income countries: $ 1,035 or less.

Middle-income countries: from $ 1,036 to $ 4,085.

Upper-middle-income countries: $ 4,086 to $ 12.615.

High-income countries: $ 12,616 or more. (more…)

Screen Shot 2012-09-20 at 9.26.27 AMEconomic: we asked the Central Bank to implement a project delete zeros

Baghdad/JD/…The Economic Committee in the House of representatives, the Committee called for the Central Bank to implement a project delete zeros of the Iraqi currency.

He said the decision of the Economic Commission Deputy Khalil Qasim mehma agency/JD/today: that the Central Committee had requested reconsideration of the project and for purely economic reasons is to maintain and improve the Iraqi currency to other currencies.