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"Bahrain Banks" signs a memorandum of understanding with their Iraqi counterparts


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The CEO of the Bahraini Al Baraka Banking Group, Adnan Yousef. "Internet"
  

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Economy News - Baghdad

The Chairman of the Board of Directors of the Bahrain Association of Banks, Adnan Ahmed Youssef, participated in a seminar organized by the Iraqi Private Banks Association with the participation of the Governor of the Central Bank of Iraq, Mustafa Ghaleb, the Governor of the Central Bank of Jordan, Ziad Fariz, the Chairman of the Association of Banks, Wadih Al-Handal, and a number of Arab banking and economic leaders, by video call on the 21st March 2021. 

 

The symposium dealt with many important issues such as the impact of the Corona pandemic on Arab banks, strategies for dealing with troubled assets, in addition to ways to enhance Arab banking and investment cooperation, overcoming obstacles facing inter-Arab investments and attracting foreign investments.

 

During the symposium, the Chairman of the Board of Directors of the Bahrain Association of Banks, Adnan Ahmed Youssef, presented a research paper in which he explained his vision of the issues on the agenda of the symposium, where he stressed that "the impact of the Corona pandemic on Arab financial and banking institutions will be profound, and it will be expected that the profitability of financial institutions and others will decrease last year." During this year, the quality of some financing portfolios deteriorated, especially for clients in the most affected sectors such as aviation and tourism, as well as some disruptions in corporate financing lines and the tendency of individual clients to withdraw their deposits, all of which will create temporary pressures on financial institutions.

 

He added, "What is comforting is the wide response of Arab central banks to these repercussions and their taking many measures that support banks in facing them, as well as the broad economic and financial packages provided by Arab governments to support the affected groups and sectors, and the consensus and determination of the worlds to return the economy to its natural course, whether at the global level." Or at the level of each country separately, by expanding the provision of vaccines at the present time. "

 

He pointed out that "of course, banks and financial institutions, and even commercial institutions in light of such situations, that is, situations of global crisis, begin to activate contingency plans to ensure business continuity at all operational and technical levels, and to continue providing services to all customers, securing financing lines and intensifying them." Monitor clients' portfolios and others. "

With regard to strategies for dealing with the main challenge facing banks and financial institutions at this stage, which is the rise in bad debts due to the negative repercussions that the pandemic has generated on economies, companies and individuals, Youssef explained that "increasing bad loans is a serious risk that should not be underestimated, but facing this challenge." It does not rest on the banks alone, but also on the supervisory authorities and the overall policies of the government.

 

He added, "On the first level, which are the measures and strategies that banks must take, banks must develop comprehensive strategic plans detailing how they deal with these debts in a systematic manner, including planning processes for identifying bad debts in the financing portfolio and dividing the portfolio into similar loan groups. Within the portfolio, to be able to direct efforts and to accommodate different types of business strategies to preserve value, identify recovery methods, and establish early warning systems.

 

As for the second level: measures and strategies that must be taken by the supervisory authorities, Youssef believes that “the supervisory authorities must provide encouragement and direct banks to review, evaluate and address the quality of their assets, especially their financing portfolios, as well as directing shareholders and management to establish specialized units with relevance. Appropriate human and technical resources within banks to supervise bad loans and seek solutions to get rid of these loans.

 

As for attracting foreign and Arab investments, he stated that "Arab countries’ shares of foreign direct investments still represent a small percentage of the volume of foreign direct investments in the world, as this percentage is less than 1% for all Arab countries. "

 

I bought that "attracting foreign investment is not an easy process, and it needs coordinated national efforts, legislation, incentives and a safe investment environment. Therefore, Arab countries, in addition to the well-known measures related to improving the investment environment and climate, should first work to launch the free movement of capital in foreign currencies." Second, giving freedom to establish companies either in local currencies or in foreign currency or both, and when capital is increased for existing companies, the freedom is given in that in order to avoid losses of currency depreciation, which they suffer in many Arab countries.

 

He continued: “Third, allowing companies to increase their capital by issuing sukuk in local or foreign currency. Fourth, not to take sudden measures affecting these investments, such as imposing additional fees or expenses. Fifth, seeking to stabilize the movement of local currencies against foreign currencies. Red tape and costly government procedures when establishing a new business. "

 
 
Number of observations 109   Date of addendum 3/22/2021
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 2021-07-06 07:46
 

Shafaq News/ The Bahrain Association of Banks signed with the Association of Iraqi Private Banks a memorandum of understanding aimed at achieving fruitful cooperation between the two associations in the field of exchanging experiences and knowledge and strengthening banking cooperation in all fields.

 

This came during a recent remote meeting, according to a statement issued by the Iraqi Association and received by Shafak News Agency.

 

Al-Bayan added that the memorandum was signed on behalf of the Bahraini side by Adnan Ahmed Yousef, Chairman of the Board of Directors of the Bahraini Society, and on the Iraqi side, Wadih Nuri Al-Handal, Chairman of the Board of Directors of the Association of Iraqi Private Banks.

 

According to the statement, this memorandum comes from the message of the Bahrain Association of Banks and the Association of Iraqi Private Banks, and their tasks in defending the interests of banks and financial institutions and highlighting their role in sustainable development programs through close cooperation with regulatory authorities and all partners and stakeholders, as well as effective promotion of their effective contribution. in promoting and attracting investments.

 

The two parties also agreed, according to the statement, to form a joint committee to consult and agree on implementing and following-up joint plans and programs and setting implementation mechanisms.

 

The statement quoted Adnan Ahmed Yousef, Chairman of the Board of Directors of the Bahrain Association of Banks, as saying, "Bahrain has had a rich and diversified banking experience over the past five decades, which has greatly enhanced it in the model of its response to the repercussions of the Corona pandemic. We are working in the association to employ this rich experience in supporting and strengthening cooperation with Arab banks, at the forefront of which is the Association of Iraqi Banks, and Iraqi banks, with which we have strong brotherly relations and have broad prospects for diversifying and developing them during the next stage.”

 

On the other hand, the head of the Association of Iraqi Private Banks, Mr. Wadih Al-Handal, said, "The Association of Iraqi Private Banks has a long history in developing the banking sector, at various technical, administrative, advisory, human resources and other levels, and this memorandum will contribute to opening horizons with the Bahraini banking sector."

 

He added, "This memorandum will enhance joint work between Iraqi and Bahraini banks, transfer experiences between the two parties, in addition to holding training courses at a high level."

 

Al-Handal valued the role played by the Bahrain Association of Banks, and we affirm that the Association of Iraqi Private Banks is working with the Central Bank of Iraq and other parties to create a solid banking sector.

 

According to the statement, the two parties will work through the memorandum of understanding to exchange experiences, studies and related research, depending on the resources available to them, and the two parties will also cooperate in providing consultations, conducting joint research and studies that fall within their competence, and organizing and implementing conferences, workshops, seminars and events in various common fields. In addition to cooperation in organizing training programs related to the rehabilitation of banking cadres, according to the common interests and needs between the two parties, and in line with the current and future needs of the banking sector in Bahrain and Iraq, exchanging information, its sources and databases between the two parties, and coordinating at the level of executive departments and their committees in order to Exchange of experiences, information and joint research.

 

 

 
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Iraqi-Bahraini cooperation in the field of banking
 

  

Baghdad - people  

The Iraqi Banks Association announced, on Tuesday, the signing of a memorandum of understanding with its Bahraini counterpart, within the framework of exchanging experiences.  

  

 

  

The association said in a statement that "Nass" received a copy of it, (6 July 2021), that "the Bahrain Association of Banks signed with the Association of Iraqi Private Banks a memorandum of understanding aimed at achieving fruitful cooperation between the two associations in the field of exchanging experiences and knowledge and strengthening banking cooperation in all fields." And that was during a recent remote meeting, and the memorandum was signed by the Chairman of the Board of Directors, Adnan Ahmed Yousef, and Wadih Nuri Al-Handal, the Chairman of the Board of Directors of the Association of Iraqi Private Banks.  

The statement added, "This memorandum stems from the message of the Bahrain Association of Banks and the Association of Iraqi Private Banks, and their tasks in defending the interests of banks and financial institutions and highlighting their role in sustainable development programs through close cooperation with regulatory authorities and all partners and stakeholders, as well as effective promotion of their effective contribution." promoting and attracting investment.  

The statement continued, "The two parties also agreed to form a joint committee to consult and agree to implement and follow up on joint plans and programs and to set implementation mechanisms."  

The Association indicated that, "On this occasion, the Chairman of the Board of Directors of the Bahrain Association of Banks said: Bahrain has a rich and diversified banking experience over the past five decades, which has greatly enhanced it in the model of its response to the repercussions of the Corona pandemic, and we are working in the Association to employ this rich experience in supporting and strengthening Cooperation with Arab banks, foremost among them the Association of Iraqi Banks, and Iraqi banks, with which we have strong brotherly relations and have broad prospects for diversifying and developing them during the next stage.  

On the other hand, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said, "The Iraqi Private Banks Association has a long history in developing the banking sector, at various technical, administrative, advisory, human resources and other levels, and this memorandum will contribute to opening horizons with the Bahraini banking sector." Statement.  

Al-Handal added, "This memorandum will enhance joint work between Iraqi and Bahraini banks, transfer experiences between the two parties, in addition to holding high-level training courses."  

Al-Handal valued the role played by the Bahrain Association of Banks, and we affirm that the Association of Iraqi Private Banks is working with the Central Bank of Iraq and other parties to create a solid banking sector, according to the statement.  

He pointed out that "the two parties will work through the memorandum of understanding to exchange experiences, studies and related research, depending on the resources available to them, and the two parties will also cooperate in providing consultations, conducting joint research and studies that fall within their competence, and organizing and implementing conferences, workshops, seminars and events in various fields." Common areas, in addition to cooperation in organizing training programs related to the rehabilitation of banking cadres, according to the common interests and needs between the two parties, and in line with the current and future needs of the banking sector in Bahrain and Iraq, exchanging information, sources and databases between the two parties, and coordinating at the level of executive departments and their committees. For the exchange of experiences, information and joint research.  

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Bahraini banks sign a memorandum of understanding with the Iraqi Private Banks Association

  image.thumb.jpeg.52176cfb0baed2219e582a4ef764bd98.jpeg
 https://economy-news.net/content.php?id=25628
The Bahrain Association of Banks signed with the Association of Iraqi Private Banks a memorandum of understanding aimed at achieving fruitful cooperation between the two associations in the field of exchanging experiences and knowledge and strengthening banking cooperation in all fields, during a recent remote meeting. The memorandum was signed by Mr. Adnan Ahmed Yousef, Chairman of the Board of Directors, and Mr. Wadih Nuri Al-Handal, Chairman of the Board of Directors of the Association of Iraqi Private Banks.

This memorandum stems from the message of the Bahrain Association of Banks and the Association of Iraqi Private Banks, and their tasks in defending the interests of banks and financial institutions and highlighting their role in sustainable development programs through close cooperation with regulatory authorities and all partners and stakeholders, as well as effectively promoting their effective contribution to promoting and attracting investments. .

The two parties also agreed to form a joint committee to consult and agree on implementing and following up joint plans and programs and setting implementation mechanisms.

On this occasion, Mr. Adnan Ahmed Yousef, Chairman of the Board of Directors of the Bahrain Association of Banks, said, "Bahrain has had a rich and diversified banking experience over the past five decades, which has greatly enhanced it in its response to the repercussions of the Corona pandemic. We are working in the Association to employ this rich experience in supporting and strengthening cooperation With Arab banks, at the forefront of which is the Association of Iraqi Banks, and Iraqi banks, with which we have strong brotherly relations and have broad prospects for diversifying and developing them during the next stage.”

On the other hand, the head of the Association of Iraqi Private Banks, Mr. Wadih Al-Handal, said, "The Association of Iraqi Private Banks has a long history in developing the banking sector, at various technical, administrative, advisory, human resources and other levels, and this memorandum will contribute to opening horizons with the Bahraini banking sector."

He added, "This memorandum will enhance joint work between Iraqi and Bahraini banks, transfer experiences between the two parties, in addition to holding training courses at a high level."

Al-Handal valued the role played by the Bahrain Association of Banks, and we affirm that the Association of Iraqi Private Banks is working with the Central Bank of Iraq and other parties to create a solid banking sector.

The two parties will work through the memorandum of understanding to exchange experiences, studies and relevant research, depending on the resources available to them. The two parties will also cooperate in providing consultations, conducting joint research and studies that fall within their competence, and organizing and implementing conferences, workshops, seminars and events in various common fields, in addition to To cooperate in the field of organizing training programs related to the rehabilitation of banking cadres and according to the common interests and needs between the two parties, and in line with the current and future needs of the banking sector in Bahrain and Iraq, and to exchange information and its sources and databases between the two parties, and to coordinate at the level of executive departments and their committees in order to exchange experiences information and joint research.

Views 98 Date Added 07/06/2021

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Ived read n make a little research on the all bank in Iraq..most of their banking services already provide the electronics banking, and etc..also they also provide the swift service of their bank it self..seems like I smelling a fishy about Iraq news lately

 

#gorv

#gori

#gointernational

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15 hours ago, 3n1 said:

maybe iraq might get some ideas on pricing the IQD ...... cheers dv'ers

 

1 Bahraini Dinar equals

2.65 United States Dollar

 

 

That would be a good idea 3in1. Do you think some of the cbi's employees ( even low rank employees ) have already joined to become members in dinarvet using nick names?

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7 hours ago, 3 bucks new rv rate said:

it doesn't really matter. 1 bahrain=2.65 usd and i kwd=3.25 usd. i"ll take one of them  straight to the bank and never look back. 

 

The purpose of pegging to a basket is to provide exchange rate stability. It has nothing to do with exchange value. 

 

https://www.investopedia.com/articles/forex/08/pegged-vs-floating-currencies.asp

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