“The return of Iraqi banking to the international arena” 



Preparations for the organization of the «Iraq banking» in Baghdad

Preparations to organize the Forum «Iraq Banking» in Baghdad

Wednesday 06 March 2019 28

BAGHDAD / Hussein Tgb

continue preparations to organize the Forum “Iraq Banking” its fourth session in Baghdad on 26 – 27 March , the current under the auspices of the Central Bank of Iraq under the supervision of Economics and International Business Group, as it will address topics that the advancement of the domestic financial sector, and with the participation of a group of Iraqi and Arab Banking Leaders , and a group of experts and specialists, and officials from specialized technology companies.

Digital Banking Services

Addresses the forum several most important priorities of the Central Bank of Iraq and the elements of the Five-Year Plan 2016 – 2020 issues, harmonization of monetary and fiscal policy, and the return of the Iraqi banking sector to the international arena, as well as digital banking services and technological trends of the modern Iraqi banks towards electronic banking services, and stands at legislative efforts and organizational steps to keep pace with modernization, and the role of specialized technology companies and prospects for cooperation with ATM.POS Iraqi banking sector and the development and expansion of networks of payment points.

Executive Director of the organization of the group, Walid Abu Zaki said that “Iraq is on the cusp of a political radical changes, security and economic new, translated the completion of the editing stage and the launch of reconstruction and construction workshops, in parallel with the adoption of the government a comprehensive economic plan and procedures for the development of the investment climate and strengthening the role of the private sector to encourage the stage to attract investments, new towards vital sectors, and what it means that the need for substantial financial flows. “

The application of international standards

He pointed out that “incentives to organize such forums that runs from the Central Bank of Iraq paid special attention to the need to keep up with the application of international standards, so as to enhance the confidence of international banking institutions sector, and its relationship with correspondent banks, and between these standards comply with Compliance, as well as international financial standards, as is the case with accounting standard No. 9 (IFRS9), and what it requires from the need to raise the efficiency of human resources in the sector and hone their Abraltdreb and raise the capacity. “

Patrol platform for interaction

Between Abu Zaki that “Amid these developments, the Forum of Iraq banking comes its fourth session, organized by the Economics and Business Group, in cooperation with the Central Bank of Iraq and the Association of Iraqi private banks on 26-27 March, the current, in order to find a regular platform for interaction, dialogue and highlight the most achieved and how achievements meet the challenges resulting from the application of international standards or develop appropriate local environment. “

He pointed out that “the role of the Central Bank of Iraq has become prominent in the quest to keep pace with the requirements of this stage, either through the adoption of a flexible monetary policy that takes into account the surrounding circumstances, or through the appropriate environment for expanding the participation of local banks in the financing.”

Islamic Banking Industry

Specialized in economic affairs Haider Kadhim al-Baghdadi said: “in front of the banking sector, large tasks to be supportive of actual development processes pursued by Iraq during future periods, and in the context of efforts to the banking industry development efforts, acquired the work on the Islamic banking industry and to provide appropriate regulatory legislative environment into development important from the Central Bank of Iraq’s efforts, as well as seeking to develop electronic banking services and digital services through recruitment of vital investments in the development of these channels to keep pace with global developments. “



Sent from my iPhone


The Association of Iraqi Private Banks concludes the course «Capital Planning and Liquidity Planning in accordance with Basel III Decisions»


Side of graduation course.

Economy News Baghdad

The Iraqi Private Banking Association concluded on Thursday the course “Capital Planning and Liquidity Planning in accordance with the Basel III Decisions ” at its headquarters in Baghdad.

More than 40 trainees representing a number of government, private and foreign banks participated in the course.

The director of the administration and training in the Association of Iraqi private banks, Ahmed Hashemi, during the conclusion of the session, which was attended by “economy News”, “The session was attended by a number of employees of government banks, private and foreign,” noting that “they became aware of these days the most important updates of the Basel Committee And new concepts of capital according to Basel III . “

He added that “the Association of Private Banks seeks to develop the work of the banking sector through the training of banking cadres by bringing qualified trainers from outside the country.”


Massoud Barazani receives a message from the US Vice President


Massoud Barazani receives message from US Vice President
 one hour ago

The United States and the Kurdistan region on Thursday stressed the need to provide security and stability in the liberated areas of the organization of the “Daqash” terrorist in order to return the displaced to their places and to ensure their future, 
said in a statement posted on the special site of the leader of the Kurdistan Democratic Party Massoud Barzani, “Barzani received a high-level delegation from the US State Department in the Burmam resort in the capital of Erbil, consisting of US Assistant Secretary of State for Conflict and Stability, Denis Natali, Deputy Assistant Secretary of State for Iran and Iraq Affairs Andrew Beck and US Consul General Rev. Steven Fakin and a number of advisers in the US State Department. 
The statement pointed out that the delegation conveyed during the meeting greetings of US Vice President Mike Bennis to Barzani and stressed that Bennis stressed the great appreciation of the Kurdistan Region for the protection of national and religious components.
Barzani, for his part, thanked the US Vice President and appreciated Binnis’ attention and remarks on the national and religious components of Iraq. 
The two sides discussed the situation of the displaced and the liberated areas and agreed on the need to provide security, stability and services in their areas to return to them and ensure their future, the statement added. 
In another part of the meeting, the statement said that the two sides exchanged views on the dangers and threats of terrorism and the need for a comprehensive war on extremist ideology in Iraq and the region. 
The statement also pointed out that the relations between the Kurdistan Region and America were another focus of the meeting and stressed the relations and coordination between the two sides.

For the first time in Iraq, Zain Cash launches new features with the launch of MasterCard’s Walt Card

06 March 2019

Economy and business

• The card will allow its users to use all ATMs, points of sale and purchase via e-commerce platforms and anywhere in the world.

• The card allows the user to buy and pay in two different currencies (US dollar and Iraqi dinar) through the same card.

• The MasterCard Card will be linked to the Zain smart phone application and will allow for real-time transaction monitoring and account detection for financial transactions.

In recognition of its continued efforts to deliver the latest digital solutions and innovative products to its subscribers, Zain announced Cash card for the first time in Iraq to launch new features and expand its services by the launch card “Walcard” authorized by the company “MasterCard” the world’s leading payment solutions, and the card will be linked to the mobile wallet “Zain Cash” without the need for a bank account to provide the holders Card The advantage of obtaining a MasterCard card and making use of it locally and globally and through a network of more than fifty million points of sale where cards with the slogan “Master Card” are accepted in addition to the possibility of shopping through the Internet and used to withdraw from ATMs and anywhere in the world.

In this context, Zain Iraq ‘s Chief Executive Officer Ali Al-Zahid stressed in his speech that the importance of keeping pace with the development in the digital economy. “Zain Iraq seeks to develop digital services and solutions that the company sets as a strategic objective in contributing to the development of this vital sector affecting the quality and future Providing services in Iraq and the region and its subscribers will be able to enjoy the services of sophisticated and easy and safe at the same time as the countries of the region and the world. ” “We are delighted to launch Walt Card as the first prepaid card linked to an intelligent smartphone application in Iraq that will give the cardholder the freedom to shop in the Iraqi dinar currency or the Iraqi Dinar,” said

Yazen Al Tamimi, Executive Director of ZainCash, licensed by the Central Bank of Iraq . US Dollar through the card itself and can be used to withdraw money, shopping and electronic shops, as well as the control and knowledge of financial movements through the application of Zain Cash via smart phones in an instant, which will enhance the electronic payment system for all subscribers Yen, and provide an easy and secure payment method that meets the highest international standards. ”

“The card will be available today at all major Zain service centers across Iraq and Zain subscribers will be able to register and activate the card easily and without complications,” Tamimi added.

Zain Cash aspires to launch card “WalCard” MasterCard International to contribute to the transition to a non-monetary economy, and the growth of the digital economy in Iraq and open new horizons by providing them with a new mechanism and safe, especially while traveling around the world where they can do all financial transactions through the card and linked Applying ZainCash to their smartphone.

The card can be obtained easily by going to the service centers of Zain Iraq in the various provinces without the need to open a bank account, and can activate the card for free by entering the application “Zain Cash” in the smartphone and click the icon “Walcard “And registration as the owner of a permanent account, and enter the serial number of the card” WalCard “followed by the PIN code of the portfolio,” Zain Cash, “WaltCard card” Zain Cash “to allow the user to control the card easily if lost through the application of” Zain Cash “Via the smartphone and can be re-filled the wallet at the points and centers of Zain Cash Where you can also identify the nearest point to you at any time through the application and will be the commercial team and the coach ready to explain the details and mechanisms of activation and characterized by easy and secret of being.

Zain Mobile’s mobile phone portfolio was launched in March 2013 with the aim of developing mobile and internet payment solutions, and was granted approval by the Central Bank of Iraq in December 2015. Its main services include transfer of funds from person to person P2P), public service bills, digital purchases, recharge and e-commerce, as well as the core services we offer, Zain Cash offers online payment, online ticket reservation, donation, balance transfer and transfer. Money and money Q via QR code.


Senate approves nomination of new US ambassador to Iraq

Editorial date: 2019/3/7 12:07

{International: Al Furat News} The US Senate Foreign Relations Committee has endorsed the nomination of the new US ambassador.

The agency said in a meeting Wednesday on the nomination of [Matthew Toler] the new ambassador to the United States to Iraq. ”

Toller, a Washington ambassador to Sanaa, defended US support for the Saudi alliance in Yemen.

The White House announced last November that President Donald Trump nominated Toller for the post of US ambassador to Iraq, replacing former ambassador Douglas Seelman, who spent nearly two years as ambassador to Baghdad.

Toller is the US ambassador to Yemen since 2014 and was a former ambassador to Kuwait, as he has worked in the embassies of Washington in Cairo, Baghdad, Kuwait and Riyadh.

Toler has also worked for the State Department as deputy director of the North Gulf office and in charge of the Egyptian office.

The new Ambassador of Iraq holds a bachelor’s degree from Prigham Yang University and a Master’s degree from Harvard University, an SIA Intelligence Award and two Presidential Honorary Awards, a Baker Wilkins Award from the State Department for the post of Deputy Chief of Mission, and fluent in Arabic.


Oil prices rise to $ 66

Editorial date: 2019/3/7 10:50

International oil rose on Thursday amid OPEC- led supply cuts and US sanctions on crude-exporting Venezuela and Iran, but price gains were limited by record US crude production and growing commercial fuel stocks.

At 0637 GMT, US WTI crude futures were at $ 56.31 a barrel , up nine cents, or 0.2 percent, from the previous settlement.

Brent crude was $ 66.22 a barrel, up 23 cents, or 0.4 percent.

Prices are supported by the efforts of the Organization of the Petroleum Exporting Countries ( OPEC ) and other countries – under the alliance known as OPEC + – to block about 1.2 million barrels per day of oil, in a strategy aimed at reducing supply to markets.

“From our point of view, OPEC’s strategy is to balance the market as quickly as possible and exit the cuts by the end of June to increase production in parallel with rock oil producers in the second half of this year,” investment bank Goldman Sachs said in a note on Wednesday.

Traders said the US sanctions on OPEC’s oil industry, Iran and Venezuela, also had an impact.

Venezuelan national oil company PDSA announced this week a maritime emergency because of what it said were difficulties in providing tankers and individuals to export their oil under sanctions.