Banking relations between Iraq and Saudi Arabia strengthen the role of the private sector in the economic decision

[yota691]

Association of Iraqi private banks invited Saudi banks to visit Iraq

 

Economy News Baghdad: The head of the Association of Iraqi Private Banks, Wadih al-Hantal, called on Saudi banks to visit Iraq and strengthen bilateral relations. "Iraq is looking forward to Saudi Arabia to play a bigger role in economic relations through increasing trade, especially since Saudi Oil Minister Khalid Al-Falih announced the Saudi exports amounted to 187," Al-Hantal said in a speech to a meeting of Iraqi and Saudi businessmen organized by the National Business Council. Billion in 2016, "wondering where" Iraq's position of Saudi exports. " He noted that "next year should be the volume of trade exchange between Iraq and Saudi Arabia not less than 4 billion dollars because the trade with Turkey is 11 billion dollars." He stressed the need to "facilitate the work of Saudi businessmen in Iraq through the opening of border crossings and the relaxation of customs procedures," and called on the Saudi government to "give the features of the entry of Iraqi businessmen to Saudi Arabia through Saudi Arabian Airlines or other lines." He encouraged Saudi businessmen to "invest in listed companies in the Iraqi market for securities, including banks, especially that international companies have evaluated banks with global governance by the Central Bank." Al-Hantal highlighted the importance of governance, which has objectives and indications, including the hosting of the Security Council by the Governor of the Central Bank Ali Al-Alaq, a historic precedent that did not come from 1946 in accordance with the Charter of the United Nations No. 23 to spread security and security. He wished success of economic relations between Iraq and Saudi Arabia in the coming period. On the other hand, the charge d'affaires of the Saudi embassy in Baghdad, Abdul Aziz al-Shammari, welcomed the invitation of al-Hanal. "We thank the invitation to the Saudi banks and we also invite the President of the Association of Private Banks and the Custodian of the Hanbal and the Iraqi bankers to visit Saudi Arabia," Al-Shammari said in his comments on Al-Hantal.       Views 191   Date Added 10/25/2017

[yota691]

Association of Iraqi private banks invited Saudi banks to visit Iraq

By

 rami

 -

October 25, 2017

14

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The head of the Association of Iraqi Private Banks, Wadih al-Hantal, called on Saudi banks to visit Iraq and strengthen bilateral relations.
“Iraq is looking forward to Saudi Arabia to play a bigger role in economic relations through increasing trade, especially since Saudi Oil Minister Khalid al-Faleh announced Saudi exports amounting to 187 billion riyals in 2016,” al-Hanalal said in a speech to a meeting of Iraqi and Saudi businessmen organized by the National Business Council. “, Wondering where” Iraq’s position of Saudi exports. ”
He noted that “next year should be the volume of trade exchange between Iraq and Saudi Arabia not less than 4 billion dollars because the trade with Turkey is 11 billion dollars.”
He stressed the need to “facilitate the work of Saudi businessmen in Iraq through the opening of border crossings and the relaxation of customs procedures,” and called on the Saudi government to “give the features of the entry of Iraqi businessmen to Saudi Arabia through Saudi Arabian Airlines or other lines.”
He encouraged Saudi businessmen to “invest in listed companies in the Iraqi market for securities, including banks, especially that international companies have evaluated banks with global governance by the Central Bank.”
Al-Hantal highlighted the importance of governance, which has objectives and indications, including the hosting of the Security Council by the Governor of the Central Bank Ali Al-Alaq, a historic precedent that did not come from 1946 in accordance with the Charter of the United Nations No. 23 to spread security and security. He wished success of economic relations between Iraq and Saudi Arabia in the coming period.
On the other hand, the charge d’affaires of the Saudi embassy in Baghdad, Abdul Aziz al-Shammari, welcomed the invitation of al-Hanal.
“We thank the invitation to the Saudi banks and we also invite the President of the Association of Private Banks and the Custodian of the Hanbal and the Iraqi bankers to visit Saudi Arabia,” Al-Shammari said in his comments on Al-Hantal.

[SnowGlobe7]

things that make you go hummmmmm

[yota691]

Latest Update: Thursday 6 Safar 1439 H - October 26, 2017

Citi plans to hire 20 banks as it enters Saudi Arabia

 

Thursday 6 Safar 1439 H - October 26, 2017

Arabic.Net

Citigroup wants to recruit up to 20 banks in Saudi Arabia, where it plans to officially start operations in the first quarter of next year after it has been licensed to provide investment banking services in the kingdom, a senior executive said.

Citigroup chief executive Carmen Haddad told Reuters that the kingdom's economic reform program would provide opportunities for investment banking through privatization and by encouraging people to save more money.

The bank was licensed in April to conduct capital market activities, a move that allows Citigroup to return to the Kingdom to provide banking services after nearly 13 years of absence.

More than 10 foreign banks have licenses to operate branches in Saudi Arabia. Many international banks want to enter the Saudi market at a time when opportunities are emerging from reforms by the kingdom to halt the economy's reliance on oil revenues.

Opportunities include a range of privatizations as the government's plan to include up to 5% of Saudi Aramco in an initial public offering. It also includes steps such as increasing Saudi ownership of homes and encouraging more consumers to save.

Citi left Saudi Arabia in 2004, selling a 20 percent stake in Samba Financial Group. In 2015 he received permission from regulators in the Kingdom to invest directly in the stock market in the country.

[Big_J]

[yota691]

Banking relations between Iraq and Saudi Arabia strengthen the role of the private sector in the economic decision

By

 rami

 -

October 27, 2017

22

0

 

 

 

The head of the Association of Iraqi Private Banks Wadih al-Hanalal said on Friday that the economic and banking relations between Iraq and Saudi Arabia strengthen the role of the private sector in the economic decision.
Al-Hantal said in an interview with Al-Arabiya television channel that “the Iraqi private sector should play a role in strengthening the new Iraqi-Saudi relations and activating joint coordination between the two brotherly countries through the formation of the Iraqi-Saudi Coordination Council.”
Al-Hantal pointed to “the necessity of joint action in the banking and industrial sector through the involvement of the private sector in official delegations and the taking and making of economic decisions, and to focus on the work of banking and industrial partnerships in order to develop relations that contribute to attracting investment and reconstruction of liberated cities.
He also called for “the development of inter-economic relations, praising the broad participation of Saudi companies in the 44th session of the Baghdad International Fair, in which 60 companies and 200 businessmen from all disciplines participated.”

[sandfly]

thanks

[fancy]

Thank YOU sandfly

[ChuckFinley]

Thanks Yota, Saudi and Iraq have really become friendly lately. This is for sure moving in the right direction.  

[yota691]

Same subject...

GMT 10:54 2017 Saturday, October 28 : Last Updated

Said the kingdom was considering a more expansive budget than it had been for 2018

Aljadaan: Saudi Arabia has the best banking systems globally

Elaph - follow up

• 
  Mohammed Al - Jadaan

 

Riyadh: Saudi Finance Minister, Mohamed Jadaan, said that Kingdom is one of five countries that have best banking systems in the world, pointing that 2030 vision will be major focus for development various financial sectors.

During the sessions of the Global Future Investment Initiative in Riyadh, with the participation of Chairman, CEO and Founder of Apollo International, Leon Black, Senior Economic Advisor, The board of directors of Allianz, the American company Mohammed Al-Erian, and the senior economic adviser to Allianz's board of directors, Andrew Stilito, and John Defterios, an emerging market editor, on CNN.

Development Goals

The Minister of Finance spoke about the vision of the Kingdom of Saudi Arabia 2030, its expected role in maintaining the stability of local and international markets, and the vision of programs and initiatives aimed at creating a stable and attractive investment environment for foreign capital.

He stressed that the transformation witnessed by the Kingdom in light of the vision contributes to the stability of the region in general and that it promotes the trend of making the Kingdom a center for the region and a turning point for the Islamic world. He pointed out that the vision of 2030 was a real response to the needs of internal development and an affirmation of a policy that seeks to build a diversified economy. Is limited to economic reforms, but includes development goals in various fields, and the vision came to face any fluctuations that may occur in the world markets.

Commenting on the fluctuations in the financial markets, Al-Jadaan noted that caution must be taken in the face of unusual fluctuations, stressing that volatility is part of the success of the economy and without fluctuations can not be reaped money, which is normal, but abnormal fluctuations are trying to avoid them, as does the Central Bank And the financial regulatory bodies, praising the banking systems applied in the Kingdom, being one of the five countries that have the best banking systems in the world.

Saudi Publications

Al-Jadaan said in an interview with Bloomberg on the sidelines of the Future Investment Initiative that Saudi Arabia is considering a more expansive budget than was planned for 2018 to stimulate the economy, noting that development requires this support. He added that the government is still planning another round of cut subsidies by the end of 2017. Concerning the issuance of international bonds, he said he did not expect to put more international bonds during the year, but it is possible to put local issues, indicating that the issuance will be maintained in the domestic market Just make sure to work on developing the debt market. "We just need to make sure we're getting the right price," he said. He added that the fluctuations in the financial markets did not surprise, stressing the importance of taking caution, anticipation and readiness in the face of unusual fluctuations.