Iraqi Trade Bank announces results of profits and revenues last year

[jeepguy]

Exchanges ( dinar ) , purchase of credit outside of Iraq ...

[new york kevin]

Can a central bank of a country have 1 or more branches in a foreign country and still not be considered as not having a internationally traded currency ? Just asking. Makes ya wana place your index finger upside of your head and say hmmm, yes ?

Edited April 17, 2019 by new york kevin

[10 YEARS LATER]

Hey .... that building looks allot like the Duplex I lived in down on the beach in Malibu ! WTF

[NEPatriotsFan1]

4 hours ago, new york kevin said:

Can a central bank of a country have 1 or more branches in a foreign country and still not be considered as not having a internationally traded currency ? Just asking. Makes ya wana place your index finger upside of your head and say hmmm, yes ?

You would think their currency would be tradeable internationally! Logically speaking but we all know Iraq and Logic 😂

[yota691]

The Iraqi Trade Bank opens its first branch in Saudi Arabia

Part of the opening ceremony

 18 April 2019 03:25 PM

The Deputy Prime Minister and Minister of Finance, Fuad Hussein, opened Thursday the first branch of the Iraqi Bank for Trade in the Kingdom of Saudi Arabia in the presence of the Governor of the Saudi Monetary Agency Ahmad Al-Khulaifi.

The move comes in line with the Bank's plan to expand its business both regionally and globally.

The opening of the bank's first branch outside Iraq is part of the activation and revitalization of the movement and banking and commercial activity at the regional and international levels.

The new branch will take the Saudi capital Riyadh, the statement said.

The move supports the Bank's efforts towards further growth and expansion and underscores the Bank's commitment to the implementation of international compliance standards.

The new branch will begin banking and financial operations later within a short period after completion of the proceedings.

The expansion of the Iraqi Trade Bank's business will provide an opportunity to expand business and investment and contribute to building a network of banking relationships with major institutions in the financial and banking sectors in Saudi Arabia.

The Iraqi government is working on several projects in the Kingdom of Saudi Arabia, including a wide range of fields, aimed at developing and strengthening relations between the two countries.

"The opening of the bank's first branch outside Iraq is a major step forward in strengthening our relationship with the Saudi government," said Fouad Hussein, Deputy Prime Minister and Minister of Finance of Iraq.

The BTI opened a representative office in Abu Dhabi, the capital of the UAE at the end of 2017, and has successfully made significant strides in achieving its strategic objectives.

The Bank of Iraq operates in accordance with its long-term strategic plan for the year 2021, and plays a fundamental and highly influential role in the process of reconstruction and sustained growth of the economy in Iraq 2021.

[nannab]

Good morning Yota and DV  

[6ly410]

51 minutes ago, yota691 said:

The move comes in line with the Bank's plan to expand its business both regionally and globally.

The opening of the bank's first branch outside Iraq is part of the activation and revitalization of the movement and banking and commercial activity at the regional and international levels.

 

[pokerplayer]

4 minutes ago, 6ly410 said:

 

 

Your message did not post 6ly410. 

 

  pp

[6ly410]

Just now, pokerplayer said:

 

Your message did not post 6ly410. 

 

  pp

The move comes in line with the Bank's plan to expand its business both regionally and globally.

The opening of the bank's first branch outside Iraq is part of the activation and revitalization of the movement and banking and commercial activity at theregional and international levels.

[6ly410]

Bump let’s go IQD

Edited April 18, 2019 by 6ly410

[6ly410]

http://almasalah.com/ar/news/169130/إفتتاح-أول-فرع-للمصرف-العراقي-للتجارة-في-السعودية

 

2019/04/18 16:02

 

The opening of the first branch of the Iraqi Bank for Trade in Saudi Arabia

 

The Minister of Finance Fuad Hussein opened the first branch of the Iraqi Bank for Trade in Saudi Arabia on Thursday, April 18, 2019. The opening was attended by Ahmad Al-Khulaifi, Governor of SAMA, Turki Al-Mutairi, Governor of SAMA, Faisal Al-Hims, Administration.

"This comes in line with the bank's plan to expand its business both regionally and globally," the bank's statement said.

The ceremony was attended by senior Iraqi and Saudi officials, investors and representatives of the region's leading banks.

The opening of the branch of the first bank of its kind outside Iraq in the framework of activation and revitalization of the movement and banking and commercial activity at the regional and international levels, and takes the new branch of the Saudi capital Riyadh-based.

"This step supports the Bank's efforts towards further growth and expansion. It also affirms the Bank's commitment to implement international compliance standards in accordance with the banking model adopted in the global banking sector and contribute to the economic development of Iraq in order to achieve growth and prosperity for the country."

"The new branch will soon begin banking and financial operations shortly after the completion of the procedures. The expansion of the BTI's business will provide an opportunity to expand business and investment and contribute to building a network of banking relationships with major institutions in the financial and banking sectors of Saudi Arabia , To take advantage of the enormous opportunities in the Iraqi market, which is witnessing continuous growth. "

"The Iraqi government is working on several projects in Saudi Arabia that include a wide range of fields in order to develop and strengthen relations between the two countries," he said.

"Today is a historic event for the financial sector in Iraq. The opening of our first branch outside Iraq is a major step forward in strengthening our relationship with the Saudi government. We look forward to strengthening our bilateral cooperation," said the Minister of Finance. The two brotherly countries, especially after the support provided by the Kingdom to investors and investors to invest in Saudi markets. "

The Bank of Iraq has opened a representative office in Abu Dhabi, the capital of the UAE, by the end of 2017. The Bank has successfully made significant strides in achieving its strategic objectives to witness a new phase that will enable it to sustain the Bank's sustainable growth, His presence in the region's financial market as a financial institution enjoys close ties to global financial networks.

"Today Nestor is a new success in the Bank of Iraq's record of achievements, and we are all employees, partners and clients proud of this big move," said Faisal Al-Hims, Chairman and Chairman of the Iraqi Trade Bank.

"Personally, I have been waiting for this moment since we announced the expansion plan, and I look forward to seeing the significant economic benefits that the new branch in Saudi Arabia will bring to our strategic partners and customers."

"I thank all the employees of the Iraqi Trade Bank who contributed to this achievement. I would like to thank the King of Saudi Arabia and His Crown Prince for their guidance in supporting and facilitating the opening of our branch in Riyadh and the rest of our partners in the Kingdom."

The Bank of Iraq operates in accordance with its long-term strategic plan for 2021 and plays a major and influential role in the reconstruction and sustained growth of Iraq's economy. 2021 The Bank's success is directly linked to the stability and prosperity of the country and has a strong impact on Iraqi society.

[6ly410]

The Iraqi Commercial Bank opens the first branch abroad in Saudi Arabia

Political | 04:02 - 18/04/2019

 

BAGHDAD - 
The state-owned Iraqi Commercial Bank opened a branch in Saudi Arabia on Thursday, the first of its kind outside the country. 
The opening of the branch in Al-Olya district of the Saudi capital Riyadh was attended by Deputy Prime Minister Fuad Hussein, the Governor of the Saudi Monetary Authority Ahmad Al-Khulaifi and a crowd of officials and businessmen, the bank said in a statement posted on its official Facebook page. the 
statement said that " the new branch aims to expand relations with the banking and financial sectors in Saudi Arabia and the promotion of investment between the two countries, and that the move comes in line with the bank 's plan to expand its regional and global levels." 
It is due to the new branch starts banking and financial operations during a short period After i get up For legal proceedings Almtbah.anthy 29 / hhttps://www.mawazin.net/Details.aspx?jimare=43174

[6ly410]

Thursday، 18 April 2019 04:06 PM

 

Trade Bank Iraq opens first international branch in Saudi Arabia

 

State-owned Trade Bank of Iraq has opened a branch in Saudi Arabia, its first international outlet, the bank said in a statement on Thursday.

"The wholly government-owned bank, which holds an 80 percent market share in Iraq, has opened its first international branch office in the Al-'Olayya District of Riyadh and will start its operations soon," the statement said. 

 

https://www.thebaghdadpost.com/en/Story/38541/Trade-Bank-Iraq-opens-first-international-branch-in-Saudi-Arabia

[6ly410]

The Iraqi Trade Bank opens a branch in Saudi Arabia

http://economy-news.net/content.php?id=16331   Economy News Baghdad Finance Minister Fouad Hussein opened Thursday the first branch of the Iraqi Bank for Trade in the Kingdom of Saudi Arabia. The opening ceremony was attended by Saudi Arabian Monetary Agency Governor Ahmed Al Khulaifi, Saudi Arabian Monetary Agency (SAMA) Deputy Governor Turki Al Mutairi, Undersecretary of Finance Maher Johan and Iraqi Trade Bank Chairman Faisal Al-Hims. The bank said in a statement, read by the economy news, that the opening of the bank's branch is the first of its kind outside Iraq in the context of activation and revitalization of the movement and banking and commercial activity at the regional and international levels, noting that "it is based in the Saudi capital Riyadh." He added that this step "supports the Bank's efforts towards further growth and expansion. It also affirms the Bank's commitment to implementing international compliance standards in accordance with the banking model adopted in the global banking sector and contributing to the economic development of Iraq in order to achieve growth and prosperity for the country." The new branch will start its banking operations after completing all necessary procedures. "The expansion of the Iraqi Trade Bank's business will provide an opportunity to expand business and investment and contribute to building a network of banking relationships with major institutions in the financial and banking sectors in Saudi Arabia , To take advantage of the enormous opportunities in the Iraqi market, which is witnessing continuous growth. " The Iraqi Trade Bank was opened   A representative office in Abu Dhabi, the capital of the UAE, at the end of 2017.   Views 83   Date Added 04/18/2019

[6ly410]

The opening of the first Iraqi bank in Saudi Arabia

To promote trade communication and exchange of goods and investments

Friday, 13 August 1440 - April 19, 2019 Issue No. [14752]

https://aawsat.com/home/article/1685221/افتتاح-أول-بنك-عراقي-في-السعودية-والتعاون-يشمل-الأمن-والاستخبارات

 

Deputy Prime Minister and Governor of the Saudi Monetary Agency

Riyadh: Saleh Al-Zaid

 

The Saudi-Iraqi relations during the past two years have witnessed a development and desire by both sides to restore relations. Commercial rapprochement is emerging as one of the escalating issues. The Iraqi Bank of Iraq opened its first branch in Saudi Arabia on Thursday.

The opening ceremony of the Iraqi Trade Bank was attended by Dr. Fuad Hussein, Deputy Prime Minister of Iraq and Dr. Ahmad Al-Khulaifi, Governor of the Saudi Monetary Agency, and the Iraqi Trade Bank will begin its operations in the middle of next month, which will be a point of contact in remittances and financing of Saudi and Iraqi companies in both countries.

The opening ceremony coincided with an Iraqi visit to Saudi Arabia headed by Adel Abdul Mahdi, the Iraqi Prime Minister, during which a number of agreements were signed between the two countries.

Faisal Al-Hims, head of the Iraqi Trade Bank, said that the trade exchange between countries needs financial channels to promote this exchange, pointing out that the Iraqi Trade Bank since 2003 has enabled all imports of Iraq from all over the world through trade exchange and the network of correspondents. Countries with which trade is made make exchange easier.

He added that the Iraqi banking sector since 2003 is developing, and that banks began to invest in human resources and automate their operations, including the Iraqi Trade Bank, adding that the bank has a capital base of two billion and 300 million dollars, in addition to shareholder equity of up to 4 billion dollars, The bank is ranked 13th amongst the top 100 banks in the Middle East.

"We are looking to form an overseas branch network," he said. "We started the opening of the executive office in Abu Dhabi last year and now we are opening a branch in the capital Riyadh," he said, adding that there was a plan to acquire a bank in the UAE.

He pointed out that this opportunity will enhance trade communication and exchange of goods and investments between the two countries through the branch in Riyadh, adding that the interest of the bank is based on financing trade between the two countries, in addition to financing investors from both countries wishing to enter the Saudi or Iraqi market.

Ahmed al-Khulaifi, governor of the Saudi Arabian Monetary Agency (SAMA), said at the opening ceremony of the bank that the number of requests by banks wishing to obtain a license with SAMA was no more than three or four requests, including local ones. 13 banking agents currently working in Saudi Arabia according to the new regulation.

The relations between Saudi Arabia and Iraq have witnessed great progress over the last four years after more than a quarter of a century, as a result of the tension during the second Gulf War in 1990. Saudi-Iraqi relations returned in 2015, and during the last four years, Between the two countries, including the visit of the Saudi Foreign Minister to Iraq in 2017, and the visit of former Iraqi Prime Minister Haider Abadi to Saudi Arabia twice.

The visit of Adel Abdul Mahdi, the Iraqi Prime Minister, to Saudi Arabia signed 13 agreements in the trade, culture, education, oil, electricity and others, during which several meetings between ministers between the two countries.

 

Edited April 20, 2019 by 6ly410

[6ly410]

The Iraqi Trade Bank opens the first branch in Saudi Arabia

Friday 19 April 2019 74

 

 

http://alsabaah.iq/7600/المصرف-العراقي-للتجارة-يفتتح-أو-ل-فرع-في-السعودي-ة

The Iraqi Trade Bank opens the first branch in Saudi Arabia
Baghdad / Al-Sabah
Deputy Prime Minister and Minister of Finance Fouad Hussein opened the first branch of the Iraqi Bank for Trade (TBI) in the Kingdom of Saudi Arabia in the presence of the Governor of the Saudi Monetary Agency Ahmed Al-Khulaifi, the Deputy Governor of the Monetary Corporation Turki Al-Mutairi, and the Director General and Chairman of the Board of Directors of the Iraqi Trade Bank Faisal
Homs.
The ceremony was attended by senior Iraqi and Saudi officials, investors and representatives of the leading banks in the region, "the bank said in a statement.
The statement quoted Deputy Prime Minister and Minister of Finance Fuad Hussein as saying: "Today is a historic event for the financial sector in Iraq, as the opening of the first branch of the bank outside Iraq is a big step forward to strengthen our relationship with the Saudi government, and look forward to strengthening ties Bilateral cooperation between the two brotherly countries, especially after the support provided by the Kingdom to investors and investors to invest in Saudi markets. "
"Nestor today is a new success in the Bank of Iraq's record of achievements, and we, as employees, partners and clients, are proud of this significant step," said Faisal Al-Hims, General Manager and Chairman of the Board.
"Personally, I have been waiting for this moment since we announced the expansion plan, and I look forward to seeing the significant economic benefits that the new branch in Saudi Arabia will bring to our strategic partners and customers."
"I thank the Custodian of the Two Holy Mosques and His Highness the Crown Prince for their high guidance to support and facilitate the opening of our branch in Riyadh, capital of Saudi Arabia, and the rest of our partners in the Kingdom," he added.
"The opening of the branch of the first bank of its kind outside Iraq in the framework of activation and revitalization of the movement and banking and commercial activity at the regional and international levels, and takes the new branch of the Saudi capital Riyadh-based."
"This step supports the Bank's efforts towards further growth and expansion. It also affirms the Bank's commitment to implementing international compliance standards in accordance with the banking model adopted in the global banking sector and contributing to the economic development of Iraq in order to achieve growth and prosperity for the country."
"The new branch will soon begin banking and financial operations shortly after the completion of the procedures. The expansion of the BTI's business will provide an opportunity to expand business and investment and contribute to building a network of banking relationships with major institutions in the financial and banking sectors in Saudi Arabia. Enormous opportunities in the Iraqi market, which is witnessing continuous growth. "
The government is working on several projects in Saudi Arabia that include a wide range of fields in order to develop and strengthen relations between the two countries.
The Bank of Iraq opened a representative office in Abu Dhabi, the capital of the UAE at the end of 2017, and has successfully strived to achieve its strategic objectives to witness a new phase that will enable it to sustain the Bank's sustainable growth and assist in the reconstruction of Iraq. And enhance its presence in the region's financial market as a financial institution with close links to global financial networks.
The Bank of Iraq operates in accordance with its long-term strategic plan for 2021 and plays a crucial and significant role in the reconstruction and sustained growth of Iraq's economy in 2021. Its success is directly linked to the stability and prosperity of the country and has a strong impact on Iraqi society.

Edited April 20, 2019 by 6ly410

[6ly410]

done deal... imo let’s go IQD!!

Edited April 20, 2019 by 6ly410

[tigergorzow]

17 minutes ago, 6ly410 said:

done deal... imo let’s go IQD!!

Yup Yup....Moving at a fast pace IMHO

....😁😁

3 minutes ago, Botzwana said:

Exactly!  Done deal.  Been fighting with myself to move to Florida or stay in ole Mexico.  USA has too many problems for me right now.

 

Civil forfeiture

Very high property tax

Costs 10k to fight a sue

Dont pay your property tax for a year and the govt. can steal your house

 

Wish it were different.

Yup Totally agree looking real good for Iraqi citizens & DV Members.  Git er done boys and girls.

 

GO RV / RI

[jg1]

37 minutes ago, Botzwana said:

Exactly!  Done deal.  Been fighting with myself to move to Florida or stay in ole Mexico.  USA has too many problems for me right now.

 

Civil forfeiture

Very high property tax

Costs 10k to fight a sue

Dont pay your property tax for a year and the govt. can steal your house

 

Wish it were different.

Well when it RV'$ and your rich you will have a choice to do what you want.

[Floridian]

1 hour ago, Botzwana said:

Exactly!  Done deal.  Been fighting with myself to move to Florida or stay in ole Mexico.  USA has too many problems for me right now.

 

Civil forfeiture

Very high property tax

Costs 10k to fight a sue

Dont pay your property tax for a year and the govt. can steal your house

 

Wish it were different.

 

Botz, are you planning to get sued and/or not pay your property taxes?    I’m only asking because this is an odd way to make a decision on where to live, especially if you have a lot of money after the RV.

 

 Do they have no property taxes in Mexico? 

 

 Sorry if I’m being too inquisitive, I was just surprised by your post.

[ChuckFinley]

1 hour ago, Botzwana said:

Exactly!  Done deal.  Been fighting with myself to move to Florida or stay in ole Mexico.  USA has too many problems for me right now.

 

Civil forfeiture

Very high property tax

Costs 10k to fight a sue

Dont pay your property tax for a year and the govt. can steal your house

 

Wish it were different.

Bots, take a look at Puerto Rico. No IRS and better tax laws. 

[Floridian]

10 minutes ago, Botzwana said:

haha…  Yeah...No it is just the property tax down here is 30 bucks.  So I am cheapo Charlie.  I see U.S. property tax at 3k and I think what an idiot I would be to pay that.  On the matter of being sued...I hear people sue in the u.s. for the dumbest stuff.  I myself was sued 5 times here in Mexico where a waitress I had let go tried to get money out of me that was not deserved.  It cost 250 bucks to defend myself.  250 bucks vs. 10k.....

 

I am just a guy that likes to cover his bases.  I think long and do research before I make a decisión.  Plus immigrating my wifey to the U.S.  It should be an easy process.  She is my wifey and is 60.  No kids so no future extended family to come...I hear Ann Coulter wants a moritorium on immigration.  Then you got guys like Aritech that do not want Americans to return.  It is alot to think about.  

 

But boy I watch YouTube videos of the Panhandle in Florida...Wowie!  It has everything I think I want.  No income tax, beach, fun with universal and Disney,   In the Panhandle there are miles of farmland.  That is where I want to be.  Wifey loves the beach.  

 

Oh, now I get it!  I couldn't believe what I was reading before you explained.  LOL LOL

 

For sure costs are a lot higher in the U.S.  $30.00 taxes?  WOW!  That's a bargain.

 

While you're researching, research the hurricanes too.  The Panhandle got hit pretty hard with Hurricane Michael.  That was a bad one.

[jg1]

19 minutes ago, Botzwana said:

haha…  Yeah...No it is just the property tax down here is 30 bucks.  So I am cheapo Charlie.  I see U.S. property tax at 3k and I think what an idiot I would be to pay that.  On the matter of being sued...I hear people sue in the u.s. for the dumbest stuff.  I myself was sued 5 times here in Mexico where a waitress I had let go tried to get money out of me that was not deserved.  It cost 250 bucks to defend myself.  250 bucks vs. 10k.....

 

I am just a guy that likes to cover his bases.  I think long and do research before I make a decisión.  Plus immigrating my wifey to the U.S.  It should be an easy process.  She is my wifey and is 60.  No kids so no future extended family to come...I hear Ann Coulter wants a moritorium on immigration.  Then you got guys like Aritech that do not want Americans to return.  It is alot to think about.  

 

But boy I watch YouTube videos of the Panhandle in Florida...Wowie!  It has everything I think I want.  No income tax, beach, fun with universal and Disney,   In the Panhandle there are miles of farmland.  That is where I want to be.  Wifey loves the beach.  

Botz, I understand you and why others need to bash you I dont get. My father and mother lived/ retired in Mex and the cost is much more affordable in Mex and enjoyed themselves. 

 For me, no RV no retire in the US because could not afford it on SS. Good day.

[SocalDinar]

9 hours ago, Botzwana said:

Exactly!  Done deal.  Been fighting with myself to move to Florida or stay in ole Mexico.  USA has too many problems for me right now.

 

Civil forfeiture

Very high property tax

Costs 10k to fight a sue

Dont pay your property tax for a year and the govt. can steal your house

 

Wish it were different.

Lawyers have screwed things up here but I can’t complain too much about my property taxes on my properties . Bought all three 15, 20 and 25 years ago  Because of Howard Jarvis prop 13, I am Still only paying property tax on their purchase prices. So tax on $430,000. My property Tax is a bit over $6,000 a year. May seem high right ?

But these properties are now worth approx $3.8 million.  Crazy home prices here in My small SoCal city .

A  2 bedroom 1 bath 1200 sq ft house rents out for $3,200 a month 

 

Edited April 21, 2019 by SocalDinar

[jcfrag]

17 minutes ago, SocalDinar said:

Lawyers have screwed things up here but I can’t complain too much about my property taxes on my properties . Bought all three 15, 20 and 25 years ago  Because of Howard Jarvis prop 13, I am Still only paying property tax on their purchase prices. So tax on $430,000. My property Tax is a bit over $6,000 a year. May seem high right ?

But these properties are now worth approx $3.8 million.  Crazy home prices here in My small SoCal city .

A  2 bedroom 1 bath 1200 sq ft house rents out for $3,200 a month 

 

Holy Guacamole! 2 months of rent and your taxes are paid! Way To Go SD!!!! 😎

Edited April 21, 2019 by jcfrag