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Ki: Electronic payment supports economic reform


yota691
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2 hours ago, 10 YEARS LATER said:

 

Works on on the same premise we have in the Cavalry’s order to - “ Prepare to Standby “ - although you’re not “ there” yet, you’re closer to It because you’re no longer where you previously were, just a bit further from “ where “ & closer to “ there “ . . Action still is to be taken, only “ Partially “ however.

 

Pretty sure that’s clear as mud . . . Don’t blame me - that’s the way my Captain put it to us so in future we would know exactly “ where “ we needed to be in order to get to “ there “ :salute:

 

Was in 12th Cav. Know the feeling

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3 hours ago, 10 YEARS LATER said:

 

Works on on the same premise we have in the Cavalry’s order to - “ Prepare to Standby “ - although you’re not “ there” yet, you’re closer to It because you’re no longer where you previously were, just a bit further from “ where “ & closer to “ there “ . . Action still is to be taken, only “ Partially “ however.

 

Pretty sure that’s clear as mud . . . Don’t blame me - that’s the way my Captain put it to us so in future we would know exactly “ where “ we needed to be in order to get to “ there “ :salute:

 

Yup you got the point. Situation is different now as it were back in previous year. Never seen such a move by both Goi & Cbi lately. Heck we can almost do a checklist on the Cbi Strategic Plan now haha

Before they head for this action which is in Page 10 on the plan, education & awareness campaign is all we see on the news by both Cbi & Goi but especially Cbi in promoting,educating & training to prepare their new global agenda. Then next page 11 is where there headed & so should we. With current Cbi progress especially after global awards recognition & lifted from UNSC Chapter 7 list i would say they are steading moving forward with the plan. But as to when its gonna happen we are still where we are now,speculating & expecting based on current progress. But i have a feeling & hoping too it wont be long now. As always keep the faith as we are steadily set to sail bigtime. Go new monetary policy Go Cbi global currency tradeable recognition without restriction,Article VIII IMF. Lets roll💪💰

 

http://www.cbi.iq/

On page 11, for "Stable and steady exchange rate:"

 

Re-Structure the non-banking financial institutions particularly those in money transfer and exchange through,

Withdraw excessive cash in the market and regulate sufficient amount of banknotes.

Diversify investment tools qualitatively and timely and introduce convertible new currencies.

Authorise responsible department(s) to perform and utilize their tasks and duties in purchasing and selling of foreign currencies and investment tools.

Re-structure or review periodically the interest rates.

 

Link : CBI Strategic plan

https://cbi.iq/page/77

 

Note :🚏That is just my imo ticking checklist you could do your own, heck i could be wrong🤗🙏. Just to know where we stand now. 

Peace😎

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4 hours ago, 10 YEARS LATER said:

 

Works on on the same premise we have in the Cavalry’s order to - “ Prepare to Standby “ - although you’re not “ there” yet, you’re closer to It because you’re no longer where you previously were, just a bit further from “ where “ & closer to “ there “ . . Action still is to be taken, only “ Partially “ however.

 

Pretty sure that’s clear as mud . . . Don’t blame me - that’s the way my Captain put it to us so in future we would know exactly “ where “ we needed to be in order to get to “ there “ :salute:

 

Yup you got the point. Situation is different now as it were back in previous year. Never seen such a move by both Goi & Cbi lately. Heck we can almost do a checklist on the Cbi Strategic Plan now haha

Before they head for this action which is in Page 11 on the plan, education & awareness campaign is all we see on the news by both Cbi & Goi but especially Cbi in promoting,educating & training to prepare their new global agenda. Then next page 11 is where there headed & so should we. With current Cbi progress especially after global awards recognition & lifted from UNSC Chapter 7 list i would say they are steading moving forward with the plan. But as to when its gonna happen we are still where we are now,speculating & expecting based on current progress. But i have a feeling & hoping too it wont be long now. As always keep the faith as we are steadily set to sail bigtime. Go new monetary policy Go Cbi global currency tradeable recognition without restriction,Article VIII IMF. Lets roll💪💰

 

http://www.cbi.iq/

On page 11, for "Stable and steady exchange rate:"

 

Re-Structure the non-banking financial institutions particularly those in money transfer and exchange through,

Withdraw excessive cash in the market and regulate sufficient amount of banknotes.

Diversify investment tools qualitatively and timely and introduce convertible new currencies.

Authorise responsible department(s) to perform and utilize their tasks and duties in purchasing and selling of foreign currencies and investment tools.

Re-structure or review periodically the interest rates.

 

Link : CBI Strategic plan

https://cbi.iq/page/77

 

Note :🚏That is just my imo ticking checklist you could do your own, heck i could be wrong🤗🙏. Just to know where we stand now. 

Peace😎

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How to delete the upper post guys? I did some text correction & later found out it could not be deleted. Just note that correction occurs that the Cbi Strategic Plan which i intend to highlight was all in page 11 & not 10. U could do the checking urself yarr just open up the plan it was located in page 11 which include the Cbi current progress as the Gabenor previously say They Are Ready. Please be informed.

 

Cheers😉

Edited by Reez
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11 minutes ago, magawatt said:

Hope this is a step forward and not just shuffling a million dinars to VISA to make a thousand dollar purchase.

Yup lets hope so they are ready for the world trade. I guess thats why also previously Alaq sign another China kind of visa card with one chinese company which also signed with Kuwait😉😎

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5 hours ago, 10 YEARS LATER said:

Works on on the same premise we have in the Cavalry’s order to - “ Prepare to Standby “ - although you’re not “ there” yet, you’re closer to It because you’re no longer where you previously were, just a bit further from “ where “ & closer to “ there “ . . Action still is to be taken, only “ Partially “ however.

The Captain sounds very philosophical indeed...  

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Just a few more shortlist & flashing back certain major news progress that i can think of right now,nnjoy..


November 20, 2017
Summary of the Annual Meetings Report of the International Monetary Fund and the Talks of the Credit Union ( Third Round ) and the visit of the Governor of the Central Bank to the UN Security Council ...  Click here to download
Link : https://cbi.iq/news/view/495
https://cbi.iq/static/uploads/up/file-151116963925280.pdf


PAGE 1 Pure Report
The Republic of Iraq Central Bank of Iraq
Annual Meetings of the International Monetary Fund and Convention Talks
(Third round) and the visit of the Governor of the Central Bank & the UN Security Council  
Introduction:
Experiences on the latest changes in economic policies (monetary and financial) and their instruments and the global banking system
Particularly in the area of compliance with FATF recommendations (h) in the area of combating money laundering and financing
A meeting was held with the US Treasury delegation
Cash and capital markets were discussed with the department In which the Fund was assisted To reduce the difference between the price Formal exchange and parallel market and re Structuring of good banking and Rafidain Bank.
Visited Iraq during the period And meet the Governor And Iraqi officials to promote Cooperation between the two parties in particular
Both companies British & French company promised in meetings to reduce the initial cost which it had previously provided to the Bank for the polymer curenccy
Marked and competitive for the polymer coin ***if the central bank administration has taken Iraqi decision ***to adopt the polymer currency in the coming year***.
***Discuss the topic of the transformation from paper currency to the polymer coin which showed the study provided****
***The British company***  Delaru will be reduced the printing costs of the currency strengthen the security issues of the currency of the possibility of fraud by forging rings currency and the sustainability of the new currency three times when trading compared to the current currency.
***The French company Obrethure, the French company***, I met with the Governor and the accompanying delegation an invitation to visit The company's center and the company's representative gave the same points Offered by the company Delarue  about the conversion of the currency Polymer instead of the current conventional paper currency.
Implement the plan of the Central Bank in the restructuring of the banking system in Iraq, especially in the field of reducing the number Banks in Iraq, restructuring government banks and reducing the number of banking companies.
And convert financial transfer companies into entities with strict instructions and controls as in banking systems in the world. We are currently coordinating with our international partners to find the appropriate formula to return
The structure of the system will be presented to the Board of Directors for final study, discussion and approval.
To the Member States during his meeting with the Governor and his accompanying delegation in Washington.
Forming a team selected by the Governor to open channels of prospects of cooperation in opening banking relations and exchanging experiences and technical assistance, especially after the fruitful meeting in Washington between the Governor of the Central Bank and the Governor of the Saudi Monetary Agency.
Review the printing of the Iraqi currency between the choice of the current paper currency and the polymer currency in terms of cost
And long-term security, especially as the Iraqi economy and daily financial transactions
Banking is heavily dependent on cash handling rather than price cards.
Prepare a working paper for the Conference on the Reconstruction of Free Zones organized by the terrorist organization to be organized in Kuwait at the beginning of next year by a team specialized in the Central Bank of what can be achieved from the countries Reconstruction and mechanisms to ensure the success of these projects.
November 20, 2017


& so why we are seing this & a whole lot more news nowadays build up prior from the CBI with IMF/WB,UNSC & US Treasury November 20, 2017 last year. But it all started after...according to the Cbi Strategic Plan that is...Link : https://cbi.iq/page/77


Law of the Second Amendment to the Law of the Central Bank of Iraq issued by Order No. (56) of 2004 on the Coalition Provisional Authority (dissolved)
November 14, 2017 2732 Views
Law of the Second Amendment to the Law of the Central Bank of Iraq issued by Order No. (56) of 2004 on the Coalition Provisional Authority (dissolved)
In the name of the people
Presidency
On the basis of what was approved by the House of Representatives and ratified by the President of the Republic based on the provisions of item (I) of Article (61) and Article (III) of Article (73) of the Constitution
The following law was issued:
Positive reasons
To increase the capital of the Central Bank of Iraq and ***to keep abreast of the global economic development*** and grant powers to the bank and increase the number of members of the Board of Directors of the bank from outside the bank and the formation of the Audit Committee and the issuance of commemorative coins and the imposition of interest on loans granted by the bank to commercial banks and the preservation of funds from the bookings issued by judicial decisions.
This law was enacted
Link : http://ar.parliament.iq/2017/11/14/قانــون-التعديل-الثاني-لقانون-البنك-ا/

 

Is it time to delete three zeros from the currency
Economy News Baghdad
The governor of the Central Bank, Ali al-Alaq, in a discussion session with the editors of a number of Iraqi media, including "Economy News", "***The subject of deleting zeros from the currency is ready***, but it needs an environment suitable to apply," noting that " To prevent ***manipulation and fraud*** by the owners of weak souls. "
The central government stands with the central bank's draft to delete three zeros of the currency, because it sees it "hurt the efficiency of the system of cash payments," according to the financial adviser to the prime minister.
He added, the appearance of Mohammed Saleh, in an interview, "the economy News," that "***the current environment suitable for this project*** because there is financial and political stability witnessed by the country, especially after the salvation of the organization (Dahesh)
He stressed the need not to rely on the project to support the Iraqi dinar, but "focus on the creation of all conditions that would support the Iraqi dinar and represented by political and economic stability," pointing out that "***the central bank has accumulated experience in dealing with the subject***".
Link : http://economy-news.net/content.php?id=11818


Rafidain Bank and the company to provide international services soon to all the beneficiary segments
Economy News _ Baghdad
The International Smart Card Company (KI) confirmed on Monday that Rafidain Bank and KI will provide global services soon to all beneficiary segments. 
He explained that "the specialized teams at both ends of the process Rafidain Bank and (K) continue to study different candidates and choose the best serving the Iraqi family," noting that "the coming period will see the provision of services at a global level to all segments of the beneficiary." 
"The new services shorten the time and effort and reach the beneficiary without any trouble, and this is an advanced step towards global service delivery," he said. 
Views 896   Date Added 07/09/2018
Link : http://economy-news.net/content.php?id=12856


MEETINGS COVERAGE AND PRESS RELEASES
SC/13372    7 JUNE 2018       SECURITY COUNCIL
Security Council Sanctions Committee concerning Iraq Removes One Entity from Its Sanctions List
On 7 June 2018, the Security Council Committee established pursuant to resolution 1518 (2003) approved the removal of the following entity from its List of Individuals and Entities subject to the assets freeze set out by paragraphs 19 and 23 of Security Council resolution 1483 (2003) adopted under Chapter VII of the Charter of the United Nations.
IQe.001 Name: CENTRAL BANK OF IRAQ
A.k.a.: na F.k.a.: na Address: Rashid Street, Baghdad, Iraq Listed on: 21 Nov. 2003 Other information: Activity: Central Bank (bank of issue and controller of the banking system)
Link : https://www.un.org/press/en/2018/sc13372.doc.htm


July 01, 2018
Iraq officially exits from list of countries subject to monitoring and follow-up by FATF
The FATF officially announced Iraq's exit from the follow-up area, as the CBI and the AML / CFT have made significant progress in improving and addressing deficiencies and meeting all its commitments to FATF recommendations and addressing the requirements of the Anti-Money Laundering Strategy And the financing of terrorism prepared by the Central Bank of Iraq as well as the legislation of the Anti-Money Laundering Law No. 39 of 2015 and the issuance of instructions and controls and the establishment of the Council against Money Laundering and Financing of Terrorism as well as the Committee for the freezing of funds of terrorists, Monitoring and follow-up by FATF .
Link : https://cbi.iq/news/view/748

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8 hours ago, Reez said:

Yup lets hope so they are ready for the world trade. I guess thats why also previously Alaq sign another China kind of visa card with one chinese company which also signed with Kuwait😉😎

If they could just go ahead and charge those cards with the same rate as Kuwait, I’d overlook the last ten years of waiting watching paint dry and we could go our separate ways ;) I hope you are right with all your thoughts..... I like where you are coming from on your line of thinking 

 

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  • yota691 changed the title to Company Ki: openness to the world need to track the evolution of payments
Release date: 2018/7/11 12:39 • 505 times read
Company Ki: openness to the world need to track the evolution of payments
[Ayna-Baghdad] 
Ki stressed the importance of the trend towards international companies specialized in the field of payments and to benefit from the advanced systems adopted by it.
"The payment systems are constantly evolving, which requires opening up to the largest companies in order to provide the best and most recent products, which makes it easier for the citizen to conduct various financial operations," said Ahmed Kazem, head of the company's commercial department. 
"The adoption of the best payment systems is the main concern of KI and its management, where specialized teams are working to keep up with the evolving realities of the international business arena." 
Kee is the largest family of more than 7 million beneficiaries across Iraq.
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19 minutes ago, NEPatriotsFan1 said:

If they could just go ahead and charge those cards with the same rate as Kuwait, I’d overlook the last ten years of waiting watching paint dry and we could go our separate ways ;) I hope you are right with all your thoughts..... I like where you are coming from on your line of thinking 

 

Yup bro ain't we all heading to the same direction

 

Peace

 

One Love

 

😎💖

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Al-Rushaid: Cash withdrawals are not affected by the interruption of the Internet

12:11 - 17/07/2018

 
image
 
 

Baghdad - 
Al-Rasheed Bank announced on Tuesday that cash withdrawals are not affected by the interruption of the Internet. 
The bank's information office said in a statement received by Mawazine News that "all the cash withdrawal machines (poc) of the MasterCard card in the branches of the bank have not been affected by the interruption of the Internet." 
The statement added that "the machines are operating without problems and cardholders can receive their dues from branches of the bank in Baghdad and the provinces." 
The Internet service in the various provinces of Iraq during the past few days almost complete disconnection and blocking of social networking sites against the backdrop of popular protests in the provinces of the center and the south.

 
 
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  • yota691 changed the title to Development Bank: Cash withdrawals operate regularly and have not been affected by the interruption of the Internet
 
Editor Ammar Tariq - Tuesday 17 July

 

Search Bigger
 
 
 
 
 
 
 

Alsumaria News / Baghdad
, said the International Development Bank, Tuesday that the cash withdrawal services regularly works were not affected by the interruption of the Internet, noting that citizens can withdraw their funds from the branches of the bank. 

The bank said in a statement received by Alsumaria News, a copy of it that "all cash withdrawal machines in our branches deployed in all Iraqi provinces continue to cover the withdrawals of the Master Card," noting that "did not affect the interruption of the Internet."

 

 


The bank said that "citizens of the holders of Master Card can go to any branch of the bank to withdraw any amount through these devices without any hindrances." 

The Internet service has been cut off from the Iraqi provinces during the past two days comes at a time when the Iraqi provinces, including Basra , Maysan, Dhi Qar , Babel , Diwaniyah, Wasit, Karbala and Baghdad, mass demonstrations to protest the widespread unemployment and lack of services.

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  • yota691 changed the title to KI offers advanced products at the lowest cost
Revision date: 2018/7/23 15:56 • 189 times read
KI offers advanced products at the lowest cost
[Ayna-Baghdad] 
Ahmed Kazem, Commercial Director of the company, continued to develop the payment work programs in the company and in line with developments in the advanced countries in this field. "The form of transactions and mechanisms of electronic payment will witness a positive change in the coming period, especially after the citizen began to interact with these developments in electronic payments, which has spread in the country," he said in a press release received by the agency All Iraq. 
He pointed out that "the company's teams to continuously indicate the products that touch the life of the beneficiary and work to make it reach the high flow through programs can handle with ease completely, based on the role of biometric technology in the detection of cases of duplication and counterfeiting, which contributes to the conservation of public money and the exploitation of resources Optimize and make customer experience easy to adopt on fingerprint no secret code. " 
International companies such as Visa, in its 2020 plan, are seeking to make the financial movements on its network biometric, making Kee a national pride in terms of design and performance.
Kee's family consists of 7 million beneficiaries in all areas of Iraq.
 
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http://alforatnews.com/modules/news/article.php?storyid=170165.....

The opening of the first representative office of a private Iraqi bank in Dubai

Date of release: 2018/7/27 19:16  129 times read
The opening of the first representative office of a private Iraqi bank in Dubai
(Baghdad: Al Furat News) The Chairman of the Board of Directors of the International Development Bank, Ziad Khalaf Abdul, opened the Representative Office of the Bank in the Emirate of Dubai in the presence of Iraqi and Emirati economic figures. 
 
The opening comes after the Bank has been subject to all due diligence procedures by the Central Bank of the United Arab Emirates and in view of the Bank of Iraq's financial solvency and control procedures, under which the final approval of the UAE side to the opening of the representative office. 
The International Development Bank, which was established in 2011 and received many awards, most recently from the Union of Arab Banks as the best Iraqi bank to provide electronic services, and the first private Iraqi bank to open a representative office in the United Arab Emirates. 
The opening of this office to the International Development Bank in Dubai is a pioneering step for the private banking sector in Iraq, and in line with the requirements of the next phase, which will witness a major expansion in the banking deal between the bank International development and world companies ".
He stressed that "the International Development Bank chose Dubai as it is an important trade center in the Middle East and includes more than 15 thousand different international companies and it is necessary to encourage this investment in Iraq, which will contribute to the development of the Iraqi economy and reduce the rates of unemployment and poverty and raise the welfare of the Iraqi people." 
He pointed out that "the International Development Bank has a strategic plan for its work, which included the introduction of the best global technology in its work, and now headed to the opening of two representative offices in Beirut and Dubai and will open an executive office in Europe during the coming period, specifically in Greece, Representative offices of the International Development Bank will facilitate the process of trade between Iraq and the countries of the world. "
The opening ceremony was attended by Deputy Governor of the Central Bank of Iraq, Munther Abdulqader Al Sheikli, Iraqi Consul in Dubai Hussein Ali Al Azzawi, DMCC Representative in Dubai Christa Fox, representatives of MasterCard, Visa and Card, UAE and Iraq. 
The DFID's financial statements showed that its profits increased by 7.84% year-on-year in the second quarter of this year. The IDB's capital is 250 billion dinars. The International Development Bank is the first among the Iraqi banks that have ATMs With more than 300 devices spread throughout Iraq in addition to having a large network of correspondent banks.....
 
 
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  • yota691 changed the title to The opening of the first representative office of a private Iraqi bank in Dubai
 
9047.jpg

  

 Banks


Economy News _ Baghdad

The International Development Bank (IDB) announced today the opening of its representative office in Dubai, UAE, as "the first office of a private Iraqi bank in the UAE." 
In a statement received by Al-Iktissad News, a copy of which was received by Ziad Khalaf, the bank's representative office in Dubai was attended by Deputy Governor of the Central Bank of Iraq Munther Abdulqader Al-Shaikhli and Iraqi Consul in Dubai Hussein Ali Al-Azzawi and Executive Director The Association of Iraqi Private Banks Ali Tariq and the representative of the DMCC free zone in Dubai Christa Fox, representatives of the company MasterCard and Visa Card, and a number of economic figures of the UAE and Iraq, "indicating that this was"
The statement added that "the International Development Bank, which was founded in 2011 and won several awards, the last of which the Union of Arab banks, is considered the best bank to provide electronic services," noting that "the first private Iraqi bank to open a representative office in the United Arab Emirates" . 
"The opening of this office to the International Development Bank in Dubai is a pioneering step for the private banking sector in Iraq, and in line with the requirements of the next phase which will witness a significant expansion in the banking deal between the International Development Bank And the companies of the world, "explaining that his bank" chose Dubai as it is an important trade center in the Middle East and includes more than 15 thousand different international companies, and it is necessary to encourage this investment in Iraq, which will contribute to the development of the Iraqi economy and reduce the rates of unemployment and poverty and raise the welfare of the Iraqi people " .
"The International Development Bank has a strategic plan for its work, which initially included the introduction of the best global technologies in its work, and now headed to the opening of two representative offices in Beirut and Dubai, and will open an executive office in Europe during the coming period, specifically in Greece, The opening of representative offices of the bank will facilitate the process of trade between Iraq and the countries of the world. " 
The statement pointed out that "the financial statements of the International Development Bank showed that its profits increased during the second quarter of this year by 7.84%, on an annual basis," pointing out that "the capital of the International Development Bank of 250 billion dinars, and ranked first among Iraqi banks, Has ATMs, with more than 300 devices spread throughout Iraq in addition to having a large network of correspondent banks.


Views 361   Date Added 07/27/2018

 
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The opening of the first representative office of a private Iraqi bank in Dubai

19:42 - 27/07/2018
0


37791981_1011304519042548_66829406369428

Information / Baghdad ..
The International Development Bank of Iraq has opened its representative office in Dubai, UAE, after being subject to all due diligence procedures by the UAE Central Bank.
"The Chairman of the Board of Directors Ziad Khalaf Abdul has opened the representative office of the International Development Bank in Dubai in the presence of Iraqi and Emirati economic figures after the bank has been subject to all due diligence procedures by the Central Bank of UAE and in view of what it owns," the bank said in a statement. The Bank has a financial position and regulatory procedures under which the final approval from the UAE side has been granted the opening of the representative office. "
He added that "the International Development Bank, which was founded in 2011 is the first private Iraqi bank to obtain a license opens a representative office in the United Arab Emirates."
"The opening of this office to the International Development Bank in Dubai is a pioneering step for the private banking sector in Iraq and comes in line with the requirements of the next phase which will see a significant expansion in the banking deal between the International Development Bank and the world's companies," Khalaf said at the opening ceremony.
He stressed that "the International Development Bank chose Dubai as it is an important commercial center in the Middle East and includes more than 15 thousand different international companies and it is necessary to encourage this investment in Iraq, which will contribute to the development of the Iraqi economy and reduce the rates of unemployment and poverty and raise the welfare of the Iraqi people.
He pointed out that "the International Development Bank has a strategic plan for its work, which included the introduction of the best global technology in its work, and now headed to the opening of two representative offices in Beirut and Dubai and will open an executive office in Europe during the coming period, specifically in the country of Greece," explaining that " Representative of the International Development Bank will facilitate the process of trade between Iraq and the countries of the world. " Finished

 

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  • yota691 changed the title to Ki: Electronic payment supports economic reform

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