Deposit Guarantee Company issues 45 billion shares for subscription


Economy News Baghdad

The Iraqi Deposit Insurance Company announced on Thursday that 45 billion shares of the company had been offered for subscription in three banks.

The company said in an announcement received by “Economy News” that “the price of one share dinars,” noting that the places of subscription will be in the Rasheed Bank in Baghdad / Rashid Street, and the Industrial Bank in Baghdad / Sanak, and the International Development Bank / Baghdad Karrada.

The company explained that the subscription period is not less than (30) days and not more than (60) days, pointing out that the subscription starts on Sunday 21/7/2019 and closes after 30 days.


Association of Banks concludes a course in banking service strategies and development of customer service management skills


Economy News – Baghdad

The Iraqi Private Banks Association, in cooperation with the Central Bank of Iraq and the Joint Efforts Group, concluded Thursday a training course entitled “Banking Service Strategies and Developing Customer Service Management Skills”.

The course was held for four days at the headquarters of the Association, with the participation of 40 trainees from government and private banks and financial transfer companies.

“The program comes within the directives of the Central Bank to improve the performance of bank staff and improve the banking sector and to inform its employees of the latest systems and programs used in developed countries,” said Ahmed Al Hashemi, Director of Administration and Training.

The Association of Iraqi Private Banks in its training center relies on trainers with long experience and who have international certificates.

At the close of the conclusion of the course, graduation certificates were distributed to the participants as well as a commemorative photograph.

IMF: Dollar is above its real value

Arab and international

Economy News _ Baghdad

The International Monetary Fund (IMF) said that the US dollar is above its real value of 6% to 12%, based on the fundamentals of the economy in the near term, unlike the euro, the yen and the yuan.
The IMF rejects US President Donald Trump’s use of customs duties to resolve trade imbalances, but his assessment of the dollar as being above its real value is likely to give additional ammunition to Trump in his repeated complaint that the strength of the dollar hampers US exports.
Trump criticizes European and Chinese policies, which he says are leading to a devaluation of the euro and other currencies against the dollar.
An IMF annual report on currencies, surpluses and external deficits of major economies shows that current account surpluses remain concentrated in the euro area and other advanced economies such as Singapore, while the deficit remains largely in the US, UK and some emerging market economies.
The IMF, which warned that the US-China trade war could cost the world economy about $ 455 billion next year, said recent trade policy measures weighed on global trade flows, undermined confidence and disrupted investment, but failed to tackle external imbalances so far. .
Instead of exchanging tariffs, surplus and deficit countries, according to the IMF, should revive liberalization efforts and strengthen the multilateral trading rules regime, which has been in force for 75 years.