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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th October 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD634 (-3.8%) / $678 (-3.8%) (weekly change) (-21.6% and -18.9% YTD change, respectively). The number of week traded shares was 148.2 bn and the weekly trading volume was IQD55.5 bn ($45.7 mn).

ISX Company Announcements

  • Mosul Bank (BMFI) held an AGM* on Oct. 18, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BMFI starting Oct. 15, 2018.
  • Iraqi Middle East Investment Bank (BIME) resumed trading on Oct. 15, 2018 due to disclosing 2017 annual financial results.
  • ISX requested AL-Sadeer Hotel (HSAD) to provide a subscription letter on the shares issued on Oct. 15, 2018 after the company’s decision to increase capital from IQD1.239 bn to IQD1.735 bn through 40% rights issue.
  • The Companies’ Registrar announced on Oct. 9, 2018 that the transfer process of the management center of Cihan Bank for Islamic & Finance (BCIH) from Baghdad to Erbil has been completed. The Companies’ Registrar requested a copy of the new adjusted contract.
  • Cross Transactions: 145.9 bn shares of Zain Al-Iraq Islamic Bank for Investment (BZII) (on Oct. 15 and Oct. 18, 2018) which represent 58.2% of BZII capital. 300 mn shares of Iraqi Agricultural Products Marketing Meat (AIPM) (on Oct. 17, 2018) which represents 6% of AIPM capital.
The Central Bank is in the process of settling all the assets of its branches in Arbil and Sulaymaniyah
10/18/2018

The Central Bank of Iraq announced on Thursday the settlement of all the assets of its branches in Erbil and Sulaymaniyah, indicating that credit balances arose when the two branches were linked to the Ministry of Finance in the region.

The bank said in a statement that it was "in the process of settling a new batch of assets of open banks in the branches of the Central Bank / Erbil and Sulaymaniyah, which arose from their cash deposits, while the settlement of amounts originating in the sukuk.

"The bank added that "based on the efforts made by the Central Bank of Iraq and the Kurdistan Regional Government, has been in 2017 and 2018 pay large amounts in dinars and dollars to open banks accounts in the branch of the Central Bank / Erbil to settle its credit balances in the branch.

The bank said it was "in the process of distributing new amounts to settle all the funds that were deposited in cash, while later settling the balances that arose over the deposit of the sukuk, although most banks had accepted these instruments contrary to the guidance of the territorial government and branches of the bank / Erbil and Sulaymaniyah.

""Credits arose when the two branches were linked to the Ministry of Finance in the region," the bank said.It is noteworthy that the Central Bank of Iraq had cut its relations with the sub-Erbil and Sulaymaniyah, during the past years because they were linked to the Ministry of Finance of the Kurdistan region

as well as the occurrence of some administrative and financial matters that did not live for the Central Bank, and the Central Bank has six branches (Baghdad, Basra, Mosul, Erbil and Sulaymaniyah And the Middle Euphrates).

http://burathanews.com/arabic/economic/339577

Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), has announced the launch of non-stop service to the city of Sulaymaniyah in the north of Iraq.

The new service from the carrier’s primary hub in Sharjah marks Air Arabia’s fourth destination in Iraq and 152 worldwide. From November 6, 2018, Air Arabia will offer two weekly flights to Sulaimaniyah, making it convenient for passengers travelling between both cities.

Offering convenient timings, the three-hour flight will operate twice per week, on Tuesdays and Fridays.

The outbound flight on Tuesday’s will depart from Sharjah International Airport (SHJ) at 05:00 and land in Sulaimaniyah International Airport (ISU) at 06:55 local time. The return flight will leave Sulaimaniyah at 07:35 and land in Sharjah at 11:05 local time.

On Fridays, the flight will depart from Sharjah International Airport (SHJ) at 15:00 and land in Sulaimaniyah International Airport (ISU) at 16:55 local time. The return flight will leave Sulaimaniyah at 17:35 and land in Sharjah at 21:05 local time.

Adel Al Ali, Group Chief Executive Officer, Air Arabia, said:

“We are pleased to launch this new service to Sulaimaniyah, our fourth destination in Iraq, after Baghdad, Najaf and Erbil. We continuously seek ways to enhance airline connectivity with Iraq, given the growth in business ties between the two nations. The additional route is a testament to Air Arabia’s commitment to providing affordable air travel to our growing customer base.”

(Source: Air Arabia)

By Amberin Zaman for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

Turkish Foreign Minister Mevlut Cavusoglu (pictured) is due to travel to Iraq on Oct. 11 for a two-day official visit to the capital Baghdad and the Iraqi Kurdistan Region’s seat of government, Erbil.

Turkey’s Foreign Ministry said in a statement that Cavusoglu would be received by Iraq’s newly elected ethnic Kurdish President Barham Salih and that he would also meet with Iraqi political leaders and Turkmen representatives.

The trip, Cavusoglu’s first since August 2017, when he traveled to both capitals to lobby against the Iraqi Kurds’ ill fated independence referendum, is seen as an effort to re-assert Turkey’s heft in Iraq amid the receding fortunes of its local Sunni Arab allies.

Click here to read the full story.

Prime Minister Nechirvan Barzani attended the ground-breaking ceremony of the 150-meter ring road project of the city of Erbil.

In a speech during the ceremony, Prime Minister Barzani said:

“The 150-metre road project is one of many projects which were prepared for implementation by the Kurdistan Regional Government. If it had not been for hardships faced since 2014, the KRG would have completed many similar projects in all major communities of the Kurdistan Region.”

Below is the text of Prime Minister Barzani’s speech:

Good morning,
Ladies and Gentlemen,

As we participate in this ground-breaking ceremony to open the Erbil City 150-meter ring road, I am delighted to meet with you again. This project is good not only for Erbil, it will facilitate road transport throughout the Kurdistan Region by reducing congestion on routes within and through the Erbil City area.

As the capital city in the center of the Kurdistan Region, Erbil is situated on many routes that connect international border entry points with the rest of Iraq, and also connects neighbouring countries with each other. Important trade routes pass between Syria, Turkey, and Iran through the Kurdistan Region.

This project will generate more fast-flowing traffic and exceed the success of the Erbil 120-metre road. As a tangible solution, the Erbil City 120-metre road has been very effective in reducing traffic congestion.

The first stage of the implementation of this 150-meter road project, includes the part which will run from Koya road to Bahirka road, 14 kilometres long and estimated to cost 131 million US dollars.

The Hemin Group will finance and implement this project with deferred payment. It will be a high-speed road with a service road alongside it. There will be three bridges and three underpasses with related high-standard equipment.

The Hemin Group will also be implementing a dual carriageway14 kilometres long between Erbil City and Gopal.
Yesterday also we participated in the ground-breaking ceremony of a project that connects Erbil and Duhok with a dual-carriageway.

Dear Ladies and Gentlemen,

The 150-metre road project is one of many projects which were prepared for implementation by the Kurdistan Regional Government. If it had not been for hardships faced since 2014, the KRG would have completed many similar projects in all major communities of the Kurdistan Region.

Adversaries of the Kurdistan Region were unable to accept the progress being enjoyed by the people of the Region, did not, and do not, want to see a well-built and lively region filled with peace and security. They did their best to obstruct the Kurdistan Region’s wheel of success.

Cutting the Kurdistan Region’s budget and ISIS threatening the Region with terrorism did not randomly occur. They were considered and planned. The war against ISIS brought nearly two million displaced persons. But the most damaging factor that adversely affected the people of the Kurdistan Region was the fall in global oil prices.

Ladies and Gentlemen,

If it were not for the perseverance and courage of the Peshmerga, security personnel, understanding and support of the people of our Region, including our government employees, no government anywhere in the world would have withstood such crises during the past five years! What government has withstood war in the midst of such severe political and financial challenges, and all the domestic issues that have been crippling the Kurdistan Region and its government?

Now, strengthened by the support of the Kurdistan people and by the determination, loyalty, and selflessness of the Peshmerga, and the sacrifice and endurance of all the hardships the government employees have gone through during past few years, the bad days are almost over. As part of our long-term mission, we as the Kurdistan Regional Government will continue to act on our original main responsibility, which is to provide public services. To further develop our country, we continue to implement development projects that we planned.

Despite all shortcomings, constructive criticism, and even destructive criticism that have been and will be directed at the KRG due to political competition, the KRG has always been providing the best possible services.
If any citizen from the Kurdistan Region or any foreign observer looks back at the past 15 years, she or he will realize the truth that in spite of all challenges, the KRG has made remarkable progress in all sectors.
It is correct that the expectations of the KRG and the people of Kurdistan were higher than what has been achieved. We cannot overlook, however, the fact that over 15 years of the KRG’s leadership the Kurdistan Region has achieved a total makeover in almost all aspects.

Hundreds of completed projects vouch for the efforts of the KRG having contributed to the infrastructure of the country, such as roads and bridges, water and sewer systems, hospitals and schools, spatial development of cities and towns, and reviving livelihoods of many thousands of citizens of Kurdistan in many hundreds of communities, attracting foreign investment and opening of many malls, hotels, restaurants and cafes, building small and large factories, and dozens of other projects.

Ladies and Gentlemen,

In ceremonies like this the intention is not to brag about achievements but to reaffirm that the first and foremost responsibility of the KRG is to serve its people, confirm such responsibility is taken seriously at every opportunity, and that the KRG seeks to realize the goals of stability, progress, and a high standard of living for all citizens.

As we participate in this groundbreaking ceremony, we reiterate the objective of the KRG that along with every step toward a stable economy, the government will take similar steps to implement plans to develop all sectors in all parts of the Kurdistan Region.

As we approach a general election, the people of the Kurdistan Region will cast their ballots. I urge all citizens of the Kurdistan Region to participate in the election process in a civilized way and elect their representatives to the Iraqi Kurdistan Parliament and the Kurdistan Regional Government for the next four years. This process is very important for the present and future of the Kurdistan Region. Let us all vote to serve, build, and develop Kurdistan.

We look forward to the next phase to serve the people, promote stability, and build a durable economy with a better living standard for our people. We are sure that the worst days are over, and tomorrow will be better than today.

In the end, I would like to especially applaud Mr. Khalid Khoshnaw, the head of the Hemin Group and his colleagues for all the good work they have produced in various parts of the Kurdistan Region on long-term relaxed loans. This reflects his unshakable trust in the KRG.

He is the ultimate example of a loyal patriot and citizen. I wish to see more people like him and I wish him all success. We truly need people like him in the Kurdistan Region who always look to serve their nation to make progress in every field and build their country.

By that, they will forever leave their positive footprint on the future of Kurdistan.

I look forward to meet you all again in another location of the Kurdistan Region and at another project.

Thank you.

(Source: KRG)

Governor of the Central Bank of Iraq: We plan to delete zeros from the local currency

By Rodao 17/9/2018

10444 views

Different categories of Iraqi currency

Roudao – Erbil

The governor of the Central Bank, Ali Alaak, on Monday, the existence of a plan to delete zeros from the local currency, noting that "this plan needs to deliberate steps, so as not to be exploited in the fraud.

Al-Alak said in a statement to the official Sabah newspaper that "currencies with small categories, may lead the citizen to bid farewell to banks in the difficulty of storage."

He added that "the central bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but this plan needs to deliberate steps, and a stable situation in order not to be exploited in the work of fraud and others."

He explained that "the Central Bank has a reserve of foreign currency very comfortable, approaching close to $ 60 billion, compared to 43 trillion dinars, which means that it covers 170 percent of the size of the mass of cash."

On the launch of the currency of the category of 100 thousand dinars, the central bank governor pointed out that "these ideas are traded by the Central Bank, but at the present time regret it."

The central bank introduced in April a project to delete three zeros from the currency, in order to confront inflation and stimulate the economy, but was forced to stop because of the deterioration of the security and political situation in the country "to prevent manipulation and fraud of weak souls."


http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http%3A%2F%2Fwww.r udaw.net%2Fmobile%2Farabic%2Fbusiness%2F170920181

The Statistics Office, IOM, and UNFPA launch the Demographic Survey of the Kurdistan Region of Iraq

The Kurdistan Region Statistics Office (KRSO), UNFPA, and IOM have launched the demographic survey of the Kurdistan Region of Iraq (KRI), one of the largest statistical exercises conducted in the region since 1987.

The survey provides a comprehensive profile of the current population demographics, employment and income, housing, household possessions, literacy and education levels. This socio-demographic study gathered information from 12,699 households, including long term residents and displaced families in the three KRI governorates of Duhok, Erbil and Sulaymaniyah.

This research is timely as it comes at a time where the country is emerging from the conflict and economic hardship; while a significant portion of displaced families have returned or are considering to go back home.

The 2014-2017 war against the Islamic State of Iraq and the Levant (ISIL) has had a severe impact on the Kurdistan Region: from the start of the crisis, KRI has provided refuge to more than one million displaced Iraqis and continues to host more than 800,000 internally displaced persons.

Dr Ali Sindi, Minister of Planning for the Kurdistan Regional Government (KRG), said:

“The information in this survey establishes a reference base for future statistical studies, and will assist the Kurdistan Regional Government with better planning and allocation of resources.”

Mr Gerard Waite, IOM Chief of Mission said:

“This survey is a true collaborative effort with the KRG and UNFPA and hopefully will contribute to addressing the needs of the most vulnerable households, in this critical post-crisis period.”

Mr Ramanathan Balakrishnan, UNFPA Representative to Iraq added:

“This demographic survey fulfils the need for updated population and socio-economic statistics and will serve as a roadmap for future, policy development and planning with KRG and partners.”

The survey was made possible through the collaboration of the Kurdistan Region Statistics Office (KRSO) within the Kurdistan’s Regional Government’s Ministry of Planning; IOM – the UN Migration Agency – and the United Nations Population Fund (UNPFA). Data was collected from October to November 2017.

Support for the publication of the report is provided by the U.S. Department of State, Bureau of Population, Refugees and Migration, and by UNFPA.

Key Finding & Statistics:

  • 87 per cent of households have a monthly income of less than 1,000,000 Iraqi Dinar (approximately 850 United States dollars).
  • More than 20 per cent of youth (18-34 ages) out of workforce are reported to have lost hope in finding a job.
  • In 27 per cent of households the head of household had not worked in the week preceding the survey. Over 40 per cent of the KRI population aged between 15 and 64 years is an active part of the labour force with the public sector employing0 nearly half of the working population.
  • Overall data indicates that the average household size in KRI is 5.1 members.
  • 35 per cent of the population is younger than 15 years, 61 per cent belongs to the active labour force age group of 15-65 years and 4 per cent is 65 or above.
  • KRI families currently enjoy an adequate standard of living: nearly all possess most common household appliances (television, stove or refrigerator). Three quarters of all families own the house they live in connected to the public water (90 per cent) and electricity networks and equipped with sanitation facilities.

(Source: UN)

Governor of the Central Bank of the {morning}: cash reserve is approaching 60 billion dollars
9/17/2018

An initiative to rehabilitate Baghdad bridges in coordination with banks
Baghdad / Abbas Abboud and Ahmad Abed Rabbo
The governor of the Central Bank Ali al-Alaq that the size of reserves of hard currency up to 60 billion dollars, and covers 170 percent of the size of the mass of the local currency, while revealing the existence of a plan for the future restructuring of the Iraqi currency.

Al-Aalak said during a dialogue with him "morning", that the Central Bank will launch in coordination with the banks initiative to rehabilitate the bridges of Baghdad, similar to the Baghdad initiative launched to rehabilitate the public squares. Of things to be calculated for the central bank is the exchange rate stability, how is it? What are your future plans in this direction?

– The stability of the exchange rate is one of the macroeconomic features, and is an important indicator of the stability of the country economically, which makes it a key task of the Central Bank, as stated in the law, because it is directly linked to the purchasing power of citizens, This means that any disruption in the standard of living of the citizens may increase the challenges faced by the government, so we have worked hard to stabilize the exchange rate and reduce inflation rates. .


We have succeeded in overcoming a very complex and challenging phase, especially when the country’s oil revenues have fallen to 70 percent in some months, in light of the war against terrorist gangs by setting a set of balances that have made inflation no more than 2 percent.



Will the value of the Iraqi dinar remain the same or is there an intention to raise
it?
– The exchange rate in Iraq follows a monetary policy based on the fixed exchange rate of the dinar and this does not mean absolute stability, may come under some circumstances may increase or reduce it according to various economic data.


We are currently moving towards no change in the value of the dinar, as it is not right to make changes under completely unstable conditions, which may confuse the overall situation. Why are not there large quantities of small coins, and what is the reason for the absence of metal groups?

– We have small currencies in the appropriate quantities, but the frequent movement and circulation and use and lack of attention to lead to damage quickly, as the Central Bank of Iraq after 2004 to mint coins in large quantities but did not receive acceptance or popularity in the local market, which caused losses, Because the market has been accustomed to paper currency making it difficult to market the coin.

So the central bank recently put in place a plan to compensate for the existing small categories damaged, as next month will be large quantities of them will meet the needs of the market completely.

On the other hand, we receive a lot of damaged banknotes and replace them with new banknotes through an expanded committee that checks them to make sure they are correct. Our doors are open to citizens to receive any amounts of damaged currency. Where does the central bank print the local currency?

– We print in international companies
, possess enough capacity to print banknotes within the advanced security standards in France, England and Germany, the design is by the Central Bank, and the paper used in printing is very high specifications.

The Central Bank is trying to print non-counterfeit paper. We have succeeded in this. The counterfeit quantities are very few and negligible, and we have very advanced equipment in the electronic and electronic detection of counterfeit currency, called comprehensive machines, so we do not rely on human effort Just.

The central bank has recently offered the category of 50,000 dinars, is there an intention to put the category of 100 thousand? – These ideas are traded by the Central Bank, but at the present time, there is a tendency in some countries to reduce the categories of currencies so as not to be stored or counterfeited, and that the currencies of small groups, may lead the citizen to bid farewell to banks for the difficulty of storage.

But generally the central bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but that plan needs to deliberate steps, and a stable situation in order not to be exploited in the fraud and other.

How does the dollar sell in the central bank or what is known as the currency auction? – It is a common mistake now to talk about the currency auction in some media and social networking sites, while this auction has been suspended since 2006, but what is happening now is the process of financing the foreign trade of the dollar, covering the country’s needs for import in addition to the requirements of travel and treatment And the transfer of profits resulting from investments and others.


The government gets the dollar through the sale of oil and then replace the dollar with the Iraqi dinar from the central bank, because the balance of the state’s financial dinars, and then the central bank to withdraw the local currency from the market and replace them in dollars, to maintain
monetary stability .

The process of withdrawing the dinar by meeting the market need of the dollar represents a revaluation of the local currency, and this method does not represent the diligence of the Central Bank, as its law provides for the sale of foreign currency in a simple and unconditional manner, in addition to the existence of an agreement between Iraq and the IMF International approved by the House of Representatives in 2008 provides for this.


The situation in Iraq is different from other countries, because of the lack of diversity in the financial revenues of hard currency other than oil, as the Iraqi private sector is unable to support the local market in dollars through imports, which makes the market depends entirely on trade finance Through the
central bank .

How much is the central bank’s reserve of foreign currency and what is the size of the local currency’s currency?

– The size of the cash reserve of foreign currency is always measured to the size of the currency mass of the local currency in the market, in addition to other international standards, especially as the International Monetary Fund recently developed a new standard, which added the ability of the state to cover trade and debt repayment.

As for the Central Bank of Iraq, it has a reserve of foreign currency is very comfortable within international classifications and is ahead of other countries, compared to the mass of cash offered by the local currency, as the reserve is close to 60 billion dollars, compared to 43 trillion dinars, which means it covers 170 percent of the size The monetary bloc, especially as the Arab Monetary Fund considers Iraq to be a country that exaggerates the size of reserves of foreign currency.
Are there any bodies that monitor the reserves of foreign currency and can the central bank act in such funds?

– The supervision is subject to several levels, foremost of which is the Internal Control Department of the Central Bank, in addition to an audit committee composed of independent observers who report to the Board of Directors of the Bank.

The Committee also supervises the Internal Audit Department of the Central Bank. In addition, On the final accounts of the Central Bank, the data of this office are internationally accredited by the international financial institutions, not to mention the ongoing monitoring by the Office of Financial Supervision.

The Central Bank of Iraq is the most institution subject to the multiplicity of regulatory bodies, and can not be disposed of any amount except within the standards provided for in the law and adopted internationally, so the rumored lack of reserve or conversion are all false rumors.

What happened during the past years, from the decline in oil prices sharply, so did not stop the revenues in some months to fill the salaries of employees, made the Central Bank to two options, either the collapse of the situation or intervention to save, so the government issued treasury transfers worth 20 trillion dinars,

And we bought them from the market, which affected the size of the cash reserve at the time, but we maintained the balance by maintaining the reasonable level of this reserve in exchange for meeting the need for the budget and maintain the exchange rate and inflation rates, this achievement is recorded to the Central Bank and has become highly praised by international organizations. How do you evaluate your relationship to the country’s fiscal policy?

– There is a close relationship, but along the line fiscal policy negatively affects the monetary currency, because the first may take certain trends do not benefit the second, for example when he notes a decline in foreign exchange reserves draws criticism to the central bank, but in fact When the budget law recognizes a financial deficit and provides for the deficit to be met by treasury transfers,

it means that such remittances will be financed by the central bank. Is the number of private banks exaggerated, and how do you evaluate their work? – When I took responsibility, I found that the number of private banks and transfer and exchange companies outweigh the need of the market, as we did not grant any new license to open a commercial bank or leave a banking company, and we have canceled the financial transfer companies, with an intention to restructure banking companies, leading to control The biggest is there is a plan to merge some banks.


But granted us licenses to open a number of Islamic banks based on the facilities provided by its law as the Council of Representatives put a paragraph to help establish the reduction of capital required at the establishment.

There are currently 70 banks working in the country, 20 of which are branches of foreign banks, but most of them are newly formed, so did not reach the level of ambition, and these banks worked under exceptional circumstances experienced by the country. The initiatives of private banks to lend to citizens are very limited. Why?

– As you know, the main task of banks is to provide credit through the granting of loans and other services, in return, take the money of depositors and give them a percentage of interest, but Iraqi banks in general have great difficulty in the practice of this activity, when you grant a loan, often does not meet the borrower to pay on Despite the large guarantees taken by banks and the high interest rate, as borrowers could be up to 20 percent.

The problem is that when the bank starts its actions against the borrower, for example, the property is facing a significant delay in legal proceedings by other parties, in addition to tribal or partisan threats, which makes banks afraid to grant loans.

Recently, there has been talk of replacing the dollar with other currencies in remittances with Iran because of US sanctions. How will this happen?

– The transfer of the dollar from Iraq to Iran has been suspended since 2012, and the Iranians are aware of this, as the conversion in other currencies, because any transfer of dollars will pass the US Federal Reserve, which leads to the suspension of the transfer.

Is there a control of the Central Bank in its branches in Kurdistan? – There was an abnormal situation in the status of branches of the Central Bank in Erbil and Sulaymaniyah, where it belongs to the Ministry of Finance in Kurdistan and this represents a violation of legal and constitutional, at a time that all the countries of the world have one central bank,

so we moved with the provincial government and agreed with them to close those branches, And the opening of a new, so the Central Bank opened its new branch in Erbil and will open another branch in Sulaymaniyah, as the central bank is currently playing its full role in Kurdistan.

What is the role of the Central Bank in supporting community initiatives and activities, such as the Baghdad Initiative launched by the Association of Private Banks?


– We are working in the Central Bank to stimulate social contributions and initiatives by the banking sector and other financial institutions. We have established an optional fund called Tamkeen, in which banks and exchange companies participate in monthly amounts. We have established an internal system for this fund and a board of directors.

As well as environmental and youth.
Within this fund, we coordinated with the Ministry of Agriculture to dig artesian wells in some Iraqi provinces to contribute to solving the water scarcity experienced by the country, as we seek to launch the initiative to rehabilitate the bridges of Baghdad in order to appear properly.

Honored by the Union of Arab Banks as the best Arab central bank governor, what are the most important achievements that led to this honor?

– We, as a central bank, have close relations with central banks and international or Arab organizations, and those relations we have worked to deepen in order to benefit from those institutions in the transfer of the central bank from a bank that works with the mechanisms, standards and objectives of the twentieth century to another working in the 21st century,

We have succeeded for a long time in introducing new functions and tasks in the Bank’s work related to financial and monetary stability, developing methods of monitoring and abiding by the rules, methods and standards of combating the laundering of illiteracy.

Terrorism financing, risk management, overall quality and economic modeling
.
The US Treasury Department said that the efforts exerted by the Central Bank in this regard are equal to the effort it has made in its previous history, as Iraq was classified in the financial organization responsible for the classification The countries within the framework of money laundering, within the gray area, and his way to enter the black area, to become a financially isolated area and the Iraq assessment report contains 700 observations.


In the past few months, we have become the normal follow-up region, as we have been in the world, in the face of the great challenge that the country has experienced in terms of security and finances. So we have become very impressed with these financial institutions. , Federation of Arab Banks.

http://www.alsabaah.iq/ArticleShow.aspx?ID=163226

By John Lee.

Erbil’s main outdoor stadium will reportedly be sold off to a private investor.

According to Rudaw, a new stadium will be built on the site of the Franso Hariri Stadium.

The existing 28,000-capacity venue was built in 1956 and refurbished in 1992.

More here from Rudaw.

(Source: Rudaw)

(Picture credit: Kushared)

By John Lee.

Erbil’s main outdoor stadium will reportedly be sold off to a private investor.

According to Rudaw, a new stadium will be built on the site of the Franso Hariri Stadium.

The existing 28,000-capacity venue was built in 1956 and refurbished in 1992.

More here from Rudaw.

(Source: Rudaw)

(Picture credit: Kushared)