Iraq looking at the London Conference as an opening of bank guarantees for global companies

[TrinityeXchange]

Iraq looking at the London Conference as an opening of bank guarantees for global companies

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Posted: September 18, 2012 in Iraqi Dinar/Politics

BAGHDAD / JD / .. The Ministry of Construction and Housing post its minister Mohammed shouted Darraji in conference and exhibition on the financial, banking and investment currently being held in London, to discuss the open door of investment to international companies and to provide bank guarantees to them.

Daraji said in a statement, today, received / JD / copy of it: “The conference is an important opportunity for Iraq to support the development of Iraqi banks in addition to opening the door for investment in front of international companies and the needs of the bank guarantees which can be provided by international banks.”

Darraji “It will emphasize the importance of the banking system and international banks in support the investment process in Iraq and in all fields, including the field of reconstruction and construction, a sector wider which needs to banking systems worldwide can provide the guarantees necessary for global companies in the field of reconstruction and construction. “

explained “that the goals of Iraq for fiscal 2012 is complete urgent needs and reforms needed in all across the country. “

He Darraji “that Iraq is preparing to redevelop government departments and configured to program development and widely contribute to the reconstruction of the country and put it in the right way to keep up with global developments in all economic fields.”

The Minister of Construction and Housing to “The conference of interest to the World Trade Organization and investors top technology companies and major financial institutions. “

[Carrello]

Trinity, thank you. I am not a finance person, but this sounds like a win-win for all around to me.

[TrinityeXchange]

Trinity, thank you. I am not a finance person, but this sounds like a win-win for all around to me.

and it is a win win. they are pretty much pulling out all stops on this reconstruction effort. it has been hindered due to security concerns in-country for far too long now. shabibi has found a way around the incompetence of maliki to get this country on track and is pushing for bank guaranteed loans. this is pretty much telling the foreign companies to take the necessary loans needed to rebuild iraq and should political strife or terrorist attacks break out preventing you from completing the task, don't worry about being on the hook for repayment....the banks will cover.

here is a clearly defined definition of bank guarentees:

A guarantee from a lending institution ensuring that the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover it.

this thing is truly about to take place. we are going to see reconstruction efforts taking place in iraq in a major way!

[easyrider]

i see those dollar signs trinity Thanks for the post. I agree with Carello it seems as a win win situation for all parties that are invested and will be investing in Iraq. They are literally a gold mine

Edited September 18, 2012 by easyrider

[zigmeister]

Good news. I think now we watch to see them activate their advances towards the reconstruction, and pay less attention to the articles that tend to place a shadow over their efforts.

[bamagirl]

Good news keeps coming, thanks Trinity!!

[Carrello]

Good news. I think now we watch to see them activate their advances towards the reconstruction, and pay less attention to the articles that tend to place a shadow over their efforts.

I heard Shabibi walked into the conference this mornng wearing a nail bag.