Iraq Economic News and Points to Ponder Thursday 5-9-2024
Why Jordanian National Bank And Gulf Banks? Economist Explains
May 9, 2024 Baghdad/Iraq Observer Economic expert Abdul Karim Al-Issawi said:
“Today, foreign banks operating in Iraq, including banks owned by Jordanian shareholders, stand out for their confidence rooted in relations with international correspondent banks, and this makes them work in a more serious banking manner.
In contrast, Iraqi banks face… Local challenges in building relationships with correspondent banks due to their leadership that is unable to develop management professionally.”
Al-Issawi told the Iraq Observer Agency: “The leadership of Iraqi banks has affected the confidence of international bodies in them, in addition to concerns about their ownership and association with suspicious figures, which hinders their development and progress.”
He continued: “This was not limited to Jordanian banks only, as it revealed the adoption of other Emirati and Gulf banks in Iraq, and this reality will displace Iraqi banks because they are weak.”
He pointed out that: “The Iraqi banking reality may turn into an oligopolistic market.”
But he stressed that the United States of America has not lifted the sanctions on government banks that were imposed on some of them because they were accused of dealing with Iran and Syria, which are subject to strict American sanctions. https://observeriraq.net/لماذا-الاهلي-الاردني-والمصارف-الخليج/
The Governor Of The Central Bank And The French Ambassador Discuss Developments In The Banking Sector
May 09, 2024 The Governor of the Central Bank and the French Ambassador discuss developments in the banking sector His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received His Excellency the French Ambassador in Baghdad, Mr. Patrick Durel.
The meeting discussed ways to strengthen banking relations between the two countries, and
His Excellency the Governor gave a comprehensive explanation of the relations and economic conditions, as well as the government’s directions in consolidating the foundations of the national economy and diversifying it in light of the state of security stability achieved in Iraq,
explaining the plan to restructure government banks that enjoys regular support and follow-up from Before the Prime Minister, indicating that this plan will change the map of the banking sector and its reality in Iraq.
His Excellency also pointed to the rapid developments in organizing, monitoring and analyzing foreign transfer operations and covering foreign trade in accordance with best international practices and standards, which are receiving great praise and attention from international and regional organizations.
For his part, His Excellency the Ambassador expressed satisfaction with the developmental and economic developments he observed in Iraq, especially during his tour of the provinces,
expressing his country’s readiness to strengthen and develop banking relations with Iraq,
explaining that economic relations between the two countries are growing at the level of entry of French companies and the use of their expertise in investment projects.
His Excellency the French Ambassador invited His Excellency the Governor of the Central Bank of Iraq, after making the necessary arrangements, to visit the financial and banking institutions in France, especially the Central Bank of France.
It is noteworthy that the Central Bank of Iraq owns deposits and accounts with the Central Bank of France, and they have had distinguished cooperation relations over many years.
Central Bank of Iraq information Office May 9, 2024 https://cbi.iq/news/view/2574
Provoking Points To Ponder On Chance and Fortune
I make the most of all that comes, And the least of all that goes. – Sara Teasdale
If you do not expect it, you will not find the unexpected, for it is hard to find and difficult. – Heraclitus
Two roads diverged in a wood and I – I took the one less travelled by, And that has made all the difference. – Robert Frost
Unless a man has trained himself for his chance, the chance will only make him ridiculous. – W. Matthews
Chance is always powerful. Let your hook be always cast. In the pool where you least expect it, will be a fish. – Ovid
Chance is the pseudonym of God when he did not want to sign. – Anatole France
The harder you work, the luckier you get. – Gary Player
I think we consider too much the good luck of the early bird and not enough the bad luck of the early worm. – Franklin D. Roosevelt
Fortune favours the bold. – Terence
The luck of having talent is not enough; one must also have a talent for luck. – Hector Berlioz
In the field of observation, chance favours the prepared mind. – Louis Pasteur
http://famousquotesandauthors.com/topics/chance_and_fortune_quotes.html
