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 December 12, 2021
The Central Bank of Iraq signs a memorandum of understanding with the Central Bank of the United Arab Emirates

 



The Central Bank of Iraq signs a memorandum of understanding with the Central Bank of the United Arab Emirates
 
His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhif, met with His Excellency the Governor of the Central Bank of the United Arab Emirates, Mr. Khaled Muhammad Balama, and the two sides signed a memorandum of understanding on enhancing cooperation and developing banking relations between the two brotherly countries. The meeting was attended by a number of officials of the Central Bank of Iraq and their counterparts from the Central Bank of the United Arab Emirates, where the two sides stressed the importance of developing banking relations, training cadres, facilitating the transactions of the private banking sector on both sides, and opening opposite accounts in a way that ensures compliance with international standards and taking due diligence in accordance with anti-money laundering and financing laws terrorism.
 
Central Bank of Iraq
information Office
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 December 12, 2021
Gold bullion and coin prices for Sunday 12/12 to Thursday 16/12/2021

 

( Citizens can review government and private banks to buy gold bars and coins )

Gold bullion and coin prices for Sunday 12/12 to Thursday 16/12/2021

the weight
Price/JD
picture/forward
Photo/Back

مسكوة 15 غم

1,389,500

 

 

مسكوكة 22 غم

2,037,500

file-155047419319872.jpg

file-155047424067597.jpg

5 g ingot

435,000

file-155167974932800.jpg

file-15516798818313.jpg

slug 10 g

859,000

file-155167978087073.jpg

slug 15 g

1,291,500

file-155167980596158.jpg

slug 20 g

1,733,000

file-155167982617318.jpg

slug 25 g

2,175,500

file-155167984789586.jpg

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 December 12, 2021
The Governor of the Central Bank of Iraq inaugurates the activities of the Iraqi Banking Week at Expo Dubai 2020

 



The Governor of the Central Bank of Iraq inaugurates the activities of the Iraqi Banking Week at Expo Dubai 2020
 
His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mukhif, opened the activities of the Iraqi Banking Week at the Iraq Pavilion at Expo Dubai 2020, in the presence of the President of the Arab Monetary Fund, His Excellency Mr. Abdul Rahman Al-Hamidi, and the President of the Association of Iraqi Private Banks, Mr. Wadih Al-Handal, and a number of general managers in the Central Bank and chairmen of boards banks. 
His Excellency the Governor of the Central Bank said that the launch of the activities of the Banks Week in the Iraq Pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world, adding that the supervision of the Central Bank contributed greatly to the development of the banking sector. 
He explained that there are many Iraqi banks that began expanding outside Iraq, and this is what made them obtain good ratings by the competent financial institutions, indicating that Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments. 
He pointed out that all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector. 
On the other hand, the head of the Arab Monetary Fund, Mr. Abdul Rahman Al-Hamidi, praised the Central Bank's policy that contributed to the development of the banking sector. 
Al-Hamidi said that the Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mr. Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks, noting that we commend the measures taken by the Central Bank of Iraq. 
On the other hand, the head of the Iraqi Private Banks Association, Mr. Wadih Al-Handal, said that the event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start, to revitalize banking relations with the outside world, noting that the banking sector today represents a major point in the development of country's economy. 
He noted that the participation of banks and electronic payment companies in the Banking Week activities represents a strong and clear message to the world, that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks. 
It is noteworthy that the Iraqi Banks Week, at Expo 2020 Dubai, includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.
 
Central Bank of Iraq
information Office
 
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Central Bank Governor: Iraq has become an attractive arena for investments

Central Bank Governor: Iraq has become an attractive arena for investments
The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, archive
 

Mubasher: The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, inaugurated today, Sunday, the activities of the Iraqi banking week in the Iraq pavilion at Expo Dubai 2020, in the presence of the President of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the President of the Association of Iraqi Private Banks, Wadih Al-Handal, and a number of general managers in the bank Central Bank and heads of bank boards.

Makhif said, according to a statement by the Central Bank, that the launch of the Banking Week activities in the Iraq pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world, adding that the supervision of the Central Bank contributed greatly to the development of the banking sector.

He added scary that there are many Iraqi banks began to expand outside Iraq, and this is what made them get good ratings by the competent financial institutions, indicating that Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments.

The Governor of the Central Bank pointed out that all indicators of the Iraqi banking sector are constantly escalating, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector .

On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector.

Al-Hamidi said that the Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks.

For his part, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said that the event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start. To revitalize banking relations with the outside world, noting that the banking sector today represents a major point in the development of the country's economy.

Al-Handal noted that the participation of banks and electronic payment companies in the Banking Week activities represents a strong and clear message to the world, and that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks.

It is noteworthy that the Iraqi Banks Week at Expo 2020 Dubai includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates .

The Governor of the Central Bank of Iraq inaugurates the activities of the Iraqi Banking Week at Expo Dubai 2020

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The Central Bank of Iraq signs a memorandum of understanding with the Emirates Bank to develop banking relations

The Central Bank of Iraq signs a memorandum of understanding with the Emirates Bank to develop banking relations
On the sidelines of signing the memorandum
 

Mubasher: The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, met today, Sunday, with the Governor of the Central Bank of the United Arab Emirates, Khaled Muhammad Balama.

 According to a statement by the Central Bank, the two sides signed a memorandum of understanding on strengthening cooperation and developing banking relations between the two brotherly countries.

The meeting was attended by a number of officials of the Central Bank of Iraq and their counterparts from the Central Bank of the United Arab Emirates.

The two sides stressed the importance of developing banking relations, training cadres, facilitating private banking sector transactions on both sides, and opening opposite accounts to ensure compliance with international standards and due diligence in accordance with anti-money laundering and terrorist financing laws.

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  •  Time: 12/12/2021 11:37:27
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Central Bank Governor: Iraq has become an attractive arena for investment
  
{Economist: Al Furat News} The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, opened, on Sunday, the activities of the Iraqi Banking Week in the Iraq Pavilion at Expo 2020 Dubai.

The events were launched in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, a number of general managers of the Central Bank, and heads of bank boards.

The Governor of the Central Bank said, in a speech during the launching ceremony of the events, that "the launch of the Banking Week activities in the Iraq pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world, adding that the supervision of the Central Bank contributed significantly to the development of the banking sector."

He explained that "there are many Iraqi banks that began to expand outside Iraq, and this is what made them obtain good ratings by the competent financial institutions," noting that "Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments."

The governor noted that "all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector."

On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector.

Al-Hamidi said that the Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks.

In turn, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said, "The event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start, to revitalize banking relations with the outside world, noting that the banking sector today represents a major point in the development of the country's economy. ".

He pointed out that "the participation of banks and electronic payment companies in the activities of the Banking Week represents a strong and clear message to the world, that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks."

It is noteworthy that the Iraqi Banks Week, at Expo 2020 Dubai, includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.

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Iraq and the UAE sign a memorandum of understanding to develop banking relations between the two countries
  
{Economic: Al Furat News} The Central Bank announced, on Sunday, the signing of a memorandum of understanding with the Central Bank of the United Arab Emirates to develop relations between the two countries.

And a statement of the Central Bank, which {Euphrates News} received a copy of, stated, "The Governor of the Central Bank of Iraq, Mustafa Ghaleb, met with the Governor of the Central Bank of the United Arab Emirates, Khaled Muhammad Balama."

The statement indicated that "the two sides signed a memorandum of understanding on enhancing cooperation and developing banking relations between the two brotherly countries," noting that "the two sides stressed the importance of developing banking relations, training cadres, facilitating the transactions of the private banking sector on both sides, and opening opposite accounts in a manner that ensures that international standards are followed and that due diligence is taken. Duty in accordance with anti-money laundering and terrorist financing laws.

And he continued, "The meeting was attended by a number of officials of the Central Bank of Iraq and their counterparts from the Central Bank of the United Arab Emirates."

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29888.jpg
 
  

 banks


Economy News _ Baghdad

Today, Sunday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, inaugurated the activities of the Iraqi Banking Week at the Iraq Pavilion at Expo 2020 Dubai.

The events were launched in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, a number of general managers of the Central Bank, and heads of bank boards.

The Governor of the Central Bank said, in a speech during the launching ceremony of the events, according to a statement received by "Economy News", that the launch of the Banking Week activities in the Iraq pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world, adding that the Central Bank's oversight contributed significantly. Significant development in the banking sector.

He explained that there are many Iraqi banks that began expanding outside Iraq, and this is what made them obtain good ratings by the competent financial institutions, indicating that Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments.

The governor noted that all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector.

On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector.

Al-Hamidi said that the Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks.

In turn, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said that the event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start, to revitalize banking relations with the outside world, noting that the banking sector today represents a major point in the development of the country's economy.

He pointed out that the participation of banks and electronic payment companies in the activities of the Banking Week represents a strong and clear message to the world, that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks.

It is noteworthy that the Iraqi Banks Week, at Expo 2020 Dubai, includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.

 
 
Views 147   Date Added 12/12/2021
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Central Bank Governor Mustafa Ghaleb Makheef with his Emirati counterpart Khaled Muhammad Balama
  

 Expenditures


Economy News _ Baghdad

Today, Sunday, the Central Bank announced the signing of a memorandum of understanding with the Central Bank of the United Arab Emirates.

A central bank statement received by Al-Iqtisad News stated that "the governor of the Central Bank of Iraq, Mustafa Ghaleb, met with the governor of the Central Bank of the United Arab Emirates, Khaled Muhammad Balama."

The statement indicated that "the two sides signed a memorandum of understanding on enhancing cooperation and developing banking relations between the two brotherly countries," noting that "the two sides stressed the importance of developing banking relations, training cadres, facilitating the transactions of the private banking sector on both sides, and opening opposite accounts in a manner that ensures that international standards are followed and that due diligence is taken. Duty in accordance with anti-money laundering and terrorist financing laws.

And he continued, "The meeting was attended by a number of officials of the Central Bank of Iraq and their counterparts from the Central Bank of the United Arab Emirates."

 
 
Views 146   Date Added 12/12/2021
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More news articles pointing to the openness of Iraq to the world 🌎 

- Trade agreements 

- Memorandum of understanding 

- Foreign banks opening branches in Iraq 

 

Iraq is one step closer to an open market economy economy with an international recognized currency.

1 hour ago, Rochester said:

This investment is looking irresistibly gorgeous, in my opinion. 👸

Totally agree with you Rochester 👍🏼💵💰

 

Go Iraq 

Go international 

Go stronger dinar $1:1

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 Baghdad: morning
 
The Governor of the Central Bank of Iraq, Mustafa Ghaleb, said that all indicators of the Iraqi banking sector are on the rise, indicating that Iraq has become an attractive arena for investment.
A statement by the Central Bank, received by {Al-Sabah}, stated that the Governor of the Central Bank of Iraq, Mustafa Ghaleb, “opened the activities of the Iraqi banking week in the Iraq Pavilion at Expo Dubai 2020, in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, and the head of the Association of Iraqi Private Banks, Wadih Al-Handal, and a number of managers.” The two years in the Central Bank and the heads of the banks’ boards}. 
The Governor of the Central Bank said: {The launch of the activities of the Banking Week in the Iraq Pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world}, indicating that {the supervision of the Central Bank contributed significantly to the development of the banking sector.} 
He added, "There are many Iraqi banks that have begun to expand outside Iraq, and this is what made them obtain good ratings by the competent financial institutions," noting that "Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments."
He pointed out that {all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector}.
On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector. 
Al-Hamidi said, "The Governor of the Central Bank of Iraq and the Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, are now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks," noting that we "praise the measures taken by the Central Bank of Iraq."
The head of the Association of Iraqi Private Banks, Wadih Al-Handal, also confirmed that “the event of the Iraqi Banks Week in the Dubai Expo represents an important sign and a very strong beginning to revitalize banking relations with the outside world,” noting that “the banking sector today represents a major point in the development of the economy.
 Country}. 
And he indicated that {the participation of banks and electronic payment companies in the activities of the Banking Week represents a strong and clear message to the world}, explaining that {Iraq is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks}. 
It is noteworthy that the Iraqi Banks Week, at Expo Dubai 2020 includes many banking activities, informing the public about the banking services provided by banks, as well as holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.
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The Central Bank: Many Iraqi banks have begun to expand outside the country

 
 2021-12-13 07:06
 

Shafaq News/ The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, opened today, Sunday, the activities of the Iraqi Banking Week in the Iraq Pavilion at Expo 2020 Dubai.

The events were launched in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, a number of general managers of the Central Bank, and heads of bank boards.

The Governor of the Central Bank said, in a speech during the launching ceremony of the events, that: The launch of the Banking Week activities in the Iraq pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world, adding that the supervision of the Central Bank contributed significantly to the development of the banking sector.

He explained that there are many Iraqi banks that began expanding outside Iraq, and this is what made them obtain good ratings by the competent financial institutions, indicating that Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments.

The governor noted that all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector.

On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector.

Al-Hamidi said that the Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks.

In turn, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said that the event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start, to revitalize banking relations with the outside world, noting that the banking sector today represents a major point in the development of the country's economy.

He pointed out that the participation of banks and electronic payment companies in the activities of the Banking Week represents a strong and clear message to the world, that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks.

It is noteworthy that the Iraqi Banks Week, at Expo 2020 Dubai, includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.

البنك المركزي: العديد من المصارف العراقية بدأت بالتوسع خارج البلاد (shafaq.com)

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A memorandum of understanding between the UAE Central and its Iraqi counterpart for cooperation in the field of banking supervision

A memorandum of understanding between the UAE Central and its Iraqi counterpart for cooperation in the field of banking supervision
Central Bank of the Emirates
 

Abu Dhabi - Mubasher: The Central Bank of the Emirates and the Central Bank of Iraq signed a memorandum of understanding on enhancing cooperation in the field of banking supervision .

The memorandum included three main areas, which included cooperation in the field of supervision of control and supervisory issues, exchange of supervisory information, strengthening bilateral cooperation in the field of training workers with the aim of upgrading the professional skills of both parties, in addition to technical assistance and exchange of experiences, according to a press release.

Under this Memorandum of Understanding, the Central Bank of the Emirates and the Central Bank of Iraq will exchange information and communications during the licensing processes and the ongoing supervision of banks and other financial institutions operating in both countries, with the aim of achieving effective cross-border supervision, while fully maintaining the confidentiality of information .

Yesterday, Sunday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, signed with the  Governor of the Central Bank of the Emirates, Khaled Muhammad Balama , a memorandum of understanding on strengthening cooperation and developing banking relations between the two countries .

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  •  Time: 12/13/2021 13:13:38
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  •  Reading: 507 times
Find out the gold price in Iraq for today
  
{Economic: Al Furat News} "foreign and Iraqi" gold prices stabilized in local markets today, Monday (December 13, 2021).

And recorded gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, for one weight of 21 karat of Gulf, Turkish and European gold, a selling price of 367 thousand dinars, and the purchase price of 363,000, which are the same prices recorded on Sunday.

The selling price of one 21-carat weight of Iraqi gold was also stable at 337 thousand dinars, while the purchase price reached 333 thousand.

With regard to gold prices in goldsmiths’ shops, the selling price of a 21-carat Gulf gold weight ranged between 365 thousand and 370 thousand dinars, while the selling price ranged between 335 thousand and 340 thousand Iraqi dinars.

It is equal to one mithqal of gold (five grams).

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The Governor of the Central Bank of Iraq, Mustafa Ghalib, during his speech at the Iraqi-Emirati Banks Forum
  

 banks


Economy News - Baghdad

Organized in Dubai, the Iraqi-Emirati Banks Forum, in the presence of the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhaif, and a large number of Iraqi and Emirati banks.

In his speech on the sidelines of the audience attended by "Al-Iqtisad News", the Governor of the Central Bank, Mustafa Ghaleb Makheef, said, "This meeting aims to strengthen partnership and cooperation between Iraq and the UAE, as the UAE is the main gateway for cargo ships to Iraqi ports and the main financial and commercial partner in the import movement. and export to Iraq.

He added that "the volume of trade exchange between the two countries exceeded $15 billion during the year 2020, in addition to settling a large part of Iraq's imports through commercial institutions in the UAE, which necessitates the need to regulate the movement of funds and foreign trade between the two countries."

He noted that "there are a number of Iraqi and Emirati banks operating in the two countries, and we look forward to strengthening the presence of Iraqi and Emirati banks by licensing branches in both countries to attract mutual financial operations and contribute to supporting the economy."

And he indicated that the Iraqi banking sector is one of the promising sectors in terms of growth opportunities and its ability to attract financial operations and provide banking services to citizens,” noting that Iraq seeks to attract $100 billion in the transport, energy and agricultural sectors.

The governor stressed that Iraqi banks, under the guidance of the Central Bank of Iraq, have been keeping pace with international banking standards, applying institutional governance, attracting competent competencies and cadres, adopting compliance standards, combating money laundering and terrorist financing, applying international accounting standards, increasing accounting disclosure and transparency in providing information, and implementing the recommendations of the Basel II and III Committee.

On the other hand, the head of the Emirates Banks Federation, Abdul Aziz Abdullah Al Ghurair, said that Iraq is the sixth trading partner of the UAE, and we see a great tendency from the Central Bank of Iraq to support the relationship between the banking sector in the two countries, adding that the Banks Union is ready to exchange experiences with the sector Iraqi banker.

He stressed that the size of the UAE banking sector amounts to more than 1.65 trillion dollars, and this makes it very strong in the financial market, and supports the non-oil economy, indicating that Emirati banks are ready to work with Iraqi banks and achieve partnership to serve the two countries.

While the head of the Association of Iraqi Private Banks, Wadih Al-Handal, said that the Iraqi banking work is in continuous development under the supervision and guidance of the Central Bank of Iraq, which applies the highest standards of control and governance and creates a strong base of banks that serve the goals and strategy for the advancement of the Iraqi economy. 

He added that we aspire, through this forum, to open a new door of mutual banking relations and open mutual accounts between the two parties, noting that Iraqi banks possess high-level systems in addition to their application of anti-money laundering and terrorist financing laws.

 
 
Views 114   Date Added 12/13/2021
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'The sixth trading partner of the UAE'

The Governor of the Central Bank of Iraq from Dubai: Iraq seeks to attract $100 billion

2021.12.13 - 14:02
The Governor of the Central Bank of Iraq from Dubai: Iraq seeks to attract $100 billion
 

  

Baghdad - people   

The Central Bank of Iraq announced, on Monday, that the volume of trade exchange between Iraq and the UAE exceeded 15 billion dollars during 2020, while indicating that Iraq is seeking to attract 100 billion dollars in the sectors of transportation, energy and agriculture.  

  

In his speech at the Iraqi-Emirati Banks Forum, which was followed by "Nass" (December 13, 2021), Central Bank Governor Mustafa Ghaleb Mokhief said that "the forum aims to strengthen partnership and cooperation between Iraq and the UAE, as the UAE is the main entrance for cargo ships towards Iraqi ports and the main financial and commercial partner in the import and export movement towards Iraq,” noting that “the volume of trade exchange between the two countries exceeded 15 billion dollars during the year 2020, in addition to settling a large part of Iraq’s imports through commercial institutions in the UAE, which necessitates the need to organize Movement of funds and foreign trade between the two countries.   

He added, "There are a number of Iraqi and Emirati banks operating in the two countries, and we look forward to strengthening the presence of Iraqi and Emirati banks by licensing branches in both countries to attract mutual financial operations and contribute to supporting the economy."   

He continued, "The Iraqi banking sector is one of the most promising sectors in terms of growth opportunities and its ability to attract financial operations and provide banking services to citizens," noting that "Iraq seeks to attract $100 billion in the transport, energy and agricultural sectors."  

The governor stressed that, "Iraqi banks, under the guidance of the Central Bank of Iraq, have been keeping pace with international banking standards, applying institutional governance, attracting competent competencies and cadres, adopting compliance standards, combating money laundering and terrorist financing, applying international accounting standards, increasing accounting disclosure and transparency in providing information, and implementing the recommendations of the Basel II Committee   and III ".  

While the head of the Emirates Banks Federation, Abdul Aziz Abdullah Al Ghurair, said, "Iraq is the sixth trading partner of the UAE, and we see a great trend from the Central Bank of Iraq to support the relationship between the banking sector in the two countries," adding that "the Banking Union is ready to exchange experiences with the banking sector." Iraqi".   

He stressed that "the size of the UAE banking sector is more than 1.65 trillion dollars, and this makes it very strong in the financial market, and supports the non-oil economy," noting that "the UAE banks are ready to work with Iraqi banks and achieve partnership to serve the two countries."   

The head of the Association of Iraqi Private Banks, Wadih Al-Handal, stressed that "the Iraqi banking work is in a continuous development under the supervision and guidance of the Central Bank of Iraq, which applies the highest standards of control and governance and creates a strong base of banks that serve the goals and strategy for the advancement of the Iraqi economy."   

He added, "We aspire, through this forum, to open a new door of mutual banking relations and open mutual accounts between the two parties," noting that "Iraqi banks possess high-level systems in addition to their application of anti-money laundering and terrorist financing laws." 

  

 

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Central Bank: Iraq has become attractive to investment

Monday 13th December 2021

 Baghdad: morningالبنك المركزي: العراق أصبح جاذباً للاستثمار

https://alsabaah.iq/58821/البنك-المركزي-العراق-أصبح-جاذبا-للاستثمار

The Governor of the Central Bank of Iraq, Mustafa Ghaleb, said that all indicators of the Iraqi banking sector are on the rise, indicating that Iraq has become an attractive arena for investment.

A statement by the Central Bank, received by {Al-Sabah}, stated that the Governor of the Central Bank of Iraq, Mustafa Ghaleb, “opened the activities of the Iraqi banking week in the Iraq Pavilion at Expo Dubai 2020, in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, and the head of the Association of Iraqi Private Banks, Wadih Al-Handal, and a number of managers.” The two years in the Central Bank and the heads of the banks’ boards}. 

The Governor of the Central Bank said: {The launch of the activities of the Banking Week in the Iraq Pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world}, indicating that {the supervision of the Central Bank contributed significantly to the development of the banking sector.} 

He added, "There are many Iraqi banks that have begun to expand outside Iraq, and this is what made them obtain good ratings by the competent financial institutions," noting that "Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments."

He pointed out that {all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector}.

On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank's policy that contributed to the development of the banking sector. 

Al-Hamidi said, "The Governor of the Central Bank of Iraq and the Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, are now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks," noting that we "praise the measures taken by the Central Bank of Iraq."

The head of the Association of Iraqi Private Banks, Wadih Al-Handal, also confirmed that “the event of the Iraqi Banks Week in the Dubai Expo represents an important sign and a very strong beginning to revitalize banking relations with the outside world,” noting that “the banking sector today represents a major point in the development of the economy.

 Country}. 

And he indicated that {the participation of banks and electronic payment companies in the activities of the Banking Week represents a strong and clear message to the world}, explaining that {Iraq is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks}. 

It is noteworthy that the Iraqi Banks Week, at Expo Dubai 2020 includes many banking activities, informing the public about the banking services provided by banks, as well as holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.

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Yota....Please feel free to move this...CL

 

 
 

Iraq News Gazette

 
 
 

The Governor of the Central Bank inaugurates the activities of the Iraqi Banking Week at the Dubai Expo

Baghdad The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, opened the activities of the Iraqi banking week in the Iraq pavilion at Expo Dubai 2020, in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the head of the Association of Iraqi Private Banks, Wadih Al-Handhal, and a number of general managers of the Central Bank and heads of bank boards.

Mukhif said , according to a statement by the bank, that the launch of the activities of the Banks Week in the Iraq pavilion, contributes greatly to the openness of the Iraqi banking sector to the Arab and international world.

He added that the supervision of the Central Bank contributed significantly to the development of the banking sector.

He explained that there are many Iraqi banks that have begun to expand outside Iraq, and this is what made them obtain good ratings by the competent financial institutions, indicating that Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments.

He pointed out that all indicators of the Iraqi banking sector are on the rise, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector.

On the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank’s policy that contributed to the development of the banking sector.

Al-Hamidi said that the Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks, noting that we commend the measures taken by the Central Bank of Iraq.

On the other hand, the head of the Association of Iraqi Private Banks, Wadih Al-Handhal, said that the event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start, to revitalize banking relations with the outside world, noting that the banking sector today represents a major point in the development of the economy in the country.

He noted that the participation of banks and electronic payment companies in the Banking Week activities represents a strong and clear message to the world, that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks.

It is noteworthy that the Iraqi Banks Week, at Expo 2020 Dubai, includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates.

 

Source: National Iraqi News Agency

 

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Iraq, UAE sign MoU on Banking Supervision

14th December 2021 in Iraq Banking & Finance News
 

 

The Central Bank of the UAE (CBUAE) and the Central Bank of Iraq (CBI) have signed a Memorandum of Understanding (MoU) on 12th December, to enhance cooperation on banking supervision matters.

The MoU covers three main areas, including control and supervisory issues, the exchange of supervisory information, and strengthening bilateral co-operation on training workers and upgrading the professional skills of both parties, in addition to technical assistance and knowledge exchanges.

The MoU was signed by Khaled Mohamed Balama, Governor of the CBUAE, and Mustafa Ghaleb Mukheef, Governor of the CBI.

Under this agreement, the Central Bank of the UAE and Iraq will exchange information and communications during licensing processes and on-going supervision of banks and other financial institutions operating in both countries, in an effort to ensure effective cross-border supervision, while maintaining the complete information confidentiality.

Commenting on the MoU signing, Balama, Governor of the CBUAE, said:

"At the CBUAE, we are keen to strengthen co-operation with our counterparts in the CBI to achieve common goals in enhancing banking supervision, and exchange the necessary information to advance the interests of both parties to protect our financial systems."

Mustafa Ghaleb Mukheef, Governor of the CBI, said:

"We believe that the time has come to raise the level of financial and banking relations between the two countries in proportion to the volume of trade and investments between us, as well as to enhance joint co-operation to address the challenges facing the banking sector."

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Mon 13-12-2021 18:27 PM

CBUAE, Iraq sign MoU to enhance joint cooperation in banking supervision

https://www.wam.ae/en/details/1395303002675

 

ABU DHABI, 13th December, 2021 (WAM) -- The Central Bank of the UAE (CBUAE) and the Central Bank of Iraq (CBI) has signed a Memorandum of Understanding (MoU) on 12th December, to enhance cooperation on banking supervision matters.

The MoU covers three main areas, including control and supervisory issues, the exchange of supervisory information, and strengthening bilateral co-operation on training workers and upgrading the professional skills of both parties, in addition to technical assistance and knowledge exchanges.

The MoU was signed by Khaled Mohamed Balama, Governor of the CBUAE, and Mustafa Ghaleb Mukheef, Governor of the CBI.

Under this agreement, the Central Bank of the UAE and Iraq will exchange information and communications during licensing processes and on-going supervision of banks and other financial institutions operating in both countries, in an effort to ensure effective cross-border supervision, while maintaining the complete information confidentiality.

Commenting on the MoU signing, Balama, Governor of the CBUAE, said, "At the CBUAE, we are keen to strengthen co-operation with our counterparts in the CBI to achieve common goals in enhancing banking supervision, and exchange the necessary information to advance the interests of both parties to protect our financial systems."

Mustafa Ghaleb Mukheef, Governor of the CBI, said, "We believe that the time has come to raise the level of financial and banking relations between the two countries in proportion to the volume of trade and investments between us, as well as to enhance joint co-operation to address the challenges facing the banking sector."

 

WAM/Amjad Saleh
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