March 2008 News & Updates
Al Rafidain and Al Rasheed banks conclude an agreement for the use of smart cards
March 19, 2008
Al-Rafidain and Al-Rasheed banks concluded a joint agreement with an international company to use the Smart Card which has become the ideal means of cash circulation in the world.
Iraq is preparing for investment opportunities in Dubai
March 19, 2008
Iraq is preparing for the conference to be held in Dubai next April with the participation of local and foreign investors to discuss investment opportunities in 40 government-owned companies in the sectors of petrochemicals, pharmaceuticals, nutrition, industries of construction, engineering, industrial services, spinning and weaving.
A suggestion allowing private iraq banks to open up a clearing with American banks
March 19, 2008
A financial expert stressed that Iraqi private banks need to be supported by the State to enable them from doing their part in the building and reconstruction campaigns which are about to start.
Various activities in ISX (Iraq Stock Exchange) last February
March 19, 2008
Executive Director of Iraq market for securities, Taha Ahmed Abdul Salam, said that last February witnessed various activities summarized by 11 exchange sessions at three meetings a week except for one meeting was cancelled because it coincided with the occasion of Imam Al-Hussein (p) visit. He said in a press release that the number of shares circulated during last month amounted to (15) billion shares worth (16) billion dinars achieved through the implementation of 3165 negotiable deal, while the total number of shares circulated for non-Iraqi investors was (1.1) billion shares worth (1.8) billion iraqi dinars
722 billion iraqi dinar profits of Al-Rafidein Bank
March 19, 2008
Director-General of Al-Rafidein governmental bank, Abdul Hussein Al-Yasiri, said that the efforts "focus now on the restructuring of the bank to develop it and bring it to the ranks of global banks, especially since it was among the best one hundred bank in the world." He pointed out that it profits "exceeded 722 billion iraqi dinars (about 600 million dollars) last year, at an increase of %125 from 2006."
Iraqi planning to exploit the gas wealth
March 09, 2008
Iraqi Oil Minister, Hussein Al-Shahrastani, said that the Commissioner of Energy in the European Union, Andrias Bebalgus, assured him in their meeting in Brussels recently that the Union wishes Iraq to play a full role in building the Arab gas pipeline, which goes to Europe, via a linking it to Nabucco pipeline, which will transfer gas through Turkey to Western Europe from the Caspian Sea starting in 2011.
Trade organizes the largest trade fair in Baghdad
March 09, 2008
The Ministry of Trade announced on Sunday that it will organize, in coordination with Nour Office group, the largest commercial exhibition on the ground of Baghdad International Fair, with the participation of more than one hundred companies representing both public and private sectors during the period from 14 until 18 of next April.