ADIB starts digital platform for corporates in Iraq

Staff Reporter

Last updated on May 19, 2021 at 07.19 pm

ADIB Direct has helped automate a variety of services for companies, providing them with significant cost and time saving efficiencies.

ADIB Direct has helped automate a variety of services for companies, providing them with significant cost and time saving efficiencies.

Abu Dhabi Islamic Bank (ADIB) will strengthen its presence in Iraqi market by launching ‘ADIB Direct’, a digital platform that meets the growing business demands in Iraq.

ADIB Direct integrates a suite of corporate banking solutions into a single, streamlined interface. The platform offers cash management solutions, cashflow forecasting, and foreign exchange services.

Abdullah Al Shehhi, head of international banking group at ADIB said: “At ADIB, we believe we play an important role in supporting Iraq’s local economy by providing businesses the banking services they need to help them thrive and achieve their financial goals. Through ADIB Direct, we enable companies to efficiently manage their cash payments, liquidity, trade finance, supply chain and foreign exchange needs so they have more time to focus on their business.”

Since its launch in 2019 in UAE, ADIB Direct has helped automate a variety of services for companies, providing them with significant cost and time saving efficiencies. Currently, over 90 per cent of ADIB UAE’s online corporate banking services are fulfilled digitally through the platform.

ADIB is the first UAE bank to have a presence in Iraq in 2012. The bank offers a full range of Shari’a compliant corporate banking products and services. With branches across Baghdad, Erbil, and Basra, ADIB’s broad banking expertise covers government and public sector entities, and a diversified private sector base of financial institutions, trading, contracting, oil & gas, power & energy, manufacturing, and other industries. –


Senior Hamas official: We expect a ceasefire in Gaza within a day or two

the world| 11:19 – 19/05/2021


Baghdad – Mawazine News, 
Deputy Head of the Political Bureau of “Hamas”, Moussa Abu Marzouq, expects that a ceasefire will be reached between Israel and the Palestinian factions in Gaza within a day or two.

Abu Marzouq said, “I think that the efforts currently underway regarding the ceasefire will succeed.”

He explained, “I expect to reach a ceasefire within a day or two. It is related to the Gaza Strip and does not include the places of confrontation in the West Bank and the interior … and it will be on the basis of synchronization.”

Abu Marzouk considered that the Israeli Prime Minister, Benjamin Netanyahu, faced “a great failure,” noting that “Hamas” declares victory by saying.

He explained that there is “unprecedented sympathy” with the Palestinian cause in the world, stressing that “the Israeli occupation is the one who is begging for a cease-fire.”

He believed that the United States “was a partner in killing” the Palestinians in the first stage of the aggression when the mediators contacted “Hamas”, saying that the “Al-Qassam Brigades” rockets on Tel Aviv were “forced”

A Kurdish delegation to Baghdad next week .. This is the fate of the salary deduction

PoliticsBaghdadbreakingKurdistan Region delegationFinancial budget 2021-05-19 07:22A-AA +

Shafaq News / A responsible source stated, on Wednesday, that a delegation representing the Kurdistan Regional Government will visit Baghdad next week to discuss with the federal government about technical matters related to the financial budget.

Assistant President of the Kurdistan Regional Government for Financial Affairs, Rebaz Hamlan, told reporters on the sidelines of the “unity and constitution” conference in Erbil, that “a delegation representing the Kurdistan Regional Government will visit Baghdad next week to discuss with the federal government the technical issues related to the implementation of the fiscal budget law for the current year.”

Hamlan added that the delegation includes technicians from the Ministries of Finance and Natural Resources in the Kurdistan Regional Government.

And whether the regional government will continue to deduct a percentage of the salaries of employees, Hamlan said, “This issue depends on the arrangements of Baghdad.”

He explained, “If Baghdad sends the budget and it is sufficient with oil imports, taxes and customs, then there will be no deductions.”

Hamlan added, “But if it is not sent, the deduction will remain in light of the imports available to us, but the deduction will be less this month than in previous months.” 

In early February, the Iraqi parliament approved the country’s financial budget for the current year, with a total expenditure of 129 trillion dinars, and a deficit of 28 trillion.

The agreement between Baghdad and Erbil was included in the budget, which provides for the region to deliver 250,000 barrels of oil per day, along with half of the other financial revenues of the federal government, in exchange for a share of 12.6 percent of the value of the budget.

The regional government says it has not received any money from Baghdad so far.

Postponement of the visit of the Kurdish delegation to Baghdad

13:37 – 19/05/20210

The information / Erbil ..
A source in the Kurdistan Regional Government revealed, on Wednesday, the postponement of the visit of the regional government delegation to Baghdad, which was scheduled to take place tomorrow, Thursday.
“The Kurdistan Regional Government has postponed the visit of its technical delegation to Baghdad, in order to complete the discussions on the oil delivery mechanism,” the source said in a statement to “the information”.
He added that “there are differences with the oil companies operating in the Kurdistan region, and because of them, the implementation of the budget agreement has been postponed until now.”
The source pointed out that “the Kurdish delegation will visit Baghdad next week with a delegation that includes 3 ministers and officials in the regional government to implement the budget agreement.”

تأجيل زيارة الوفد الكردي إلى بغداد



18 Hours ago 


SULAIMANI — A delegation from the Kurdistan Regional Government (KRG) is expected to travel to Baghdad next week for meetings to resolve technical issues preventing implementation of the 2021 Federal Budget Law, a source from the delegation told NRT on Tuesday (May 18).

The source, who spoke on condition of anonymity, said that the visit is to discuss demands made by both the KRG and the federal government.

They also said that the make-up of the negotiating delegation would be somewhat different from the one that brokered the budget deal that led to the passage of the federal budget at the end of March.

The KRG is supposed to receive 9.5 trillion Iraqi dinars ($6.5 billion), which will be disbursed in monthly increments, in return for submitting 250,000 barrels of crude oil per day to Iraq’s oil marketer SOMO for export. The federal government will be able to cut off funds in the event of non-compliance.

Apparent technical hang-ups have prevented it from being implemented so far.

(NRT Digital Media)