Samson: The first Iraqi bank to receive an internationally recognized credit rating

19th December, 2018

The credit rating agency Fitch announced on Wednesday that the Iraqi Bank for Trade B-degree with a stable outlook, while the bank stressed that the strength of the balance sheet and the high level of profitability in its work as well as liquidity and diversification strategy behind the classification

According to the agency that the classification of the Iraqi Bank for Trade came to the credit rating B – to be the first Iraqi bank to obtain a credit rating official by a rating agency of the global, the main factors that lead to a positive assessment is to improve the prospects for growth and business environment and security situation, Reduce the budget deficit, thereby reducing the debt ratio of GDP over the medium term

All of the Bank’s financial and banking operations have been evaluated according to internationally recognized Fitch standards, which represent the Bank’s overall financial health with a focus on financial reporting, portfolio management, profitability and diversification, as well as liquidity, income and other banking factors

Faisal Al-Hims, Chairman of the Board of Directors of the Iraqi Bank for Trade, said that the risks to the classification are balanced at the present time, pointing to the importance of the role of security stability in the country during recent times in improving indicators of foreign investment and the recovery of the commercial market. He expressed his happiness with the result of the credit rating, describing it as a major achievement as the first of its kind for the Iraqi banks, and that it is in line with the principles of sovereignty in Iraq

Commenting on the Fitch Ratings decision, Mr. Faisal Al-Hims said: “The strength of the balance sheet, the high level of profitability in the BTI’s business, coupled with liquidity, diversification strategy in the corporate and retail sectors, confirm the growth and employment opportunities resulting from it. The creditworthiness of the Iraqi economy and the quality of services provided to the Iraqi citizen, as well as our success in providing innovative banking products and services, which demonstrates our relentless efforts in implementing our strategic initiatives

“We have achieved many achievements that have won numerous awards and accolades in recent years, and we continue to relentlessly pursue our vision with greater enthusiasm and determination

It is worth noting that the Iraqi Trade Bank has achieved great achievements since its opening in 2003, and continues to play a key role and influential in the development process of Iraq. The success of the Bank’s efforts is directly related to the stability and prosperity of Iraq and will have a long-term positive impact on Iraqi society

The Iraqi Bank for Trade has a network of banking branches in Iraq which plays a very important role in identifying sources of financing and securing projects. As a leading and trusted institution among international banking institutions, the Bank has opened a representative office in the UAE in 2017. Since then, the Bank has established joint working and cooperation relationships with leading international banks and financial institutions to finance infrastructure projects inside Iraq, Reconstruction of Iraq

It is worth noting that BTI is a leading financial institution in Iraq and has financial transactions with a network of 417 international banks in 61 countries around the world

At the end of 2017, the total assets of the Iraqi Trade Bank amounted to US $ 19.300 billion, with a net profit of US $ 362.432 million. The Iraqi Trade Bank has a local branch network of 25 branches across Iraq with 122 ATMs and cash deposit.

And is one of the most important banks in the Middle East because of its global reputation enabled him to win many awards, and this success is attributed to the confidence of customers and citizens of the bank     LINK


Don961:  From the political to the Minister of Defense .. Who is the head of the new UN mission in Iraq ?

2018 – 12 – 18

The head of the new United Nations Mission in Iraq (UNAMI), Jenin Hynes Placert, began her duties in Baghdad on Monday, succeeding the UN diplomat Jan Kubic.

Kubic has served as head of the UN mission in Iraq since February 5, 2015, and until December 2018.

The UN mission was established in 2003 under Resolution 1500 of the Security Council at the request of the Iraqi government. Its role was expanded in 2007 and advises the government, particularly in terms of political dialogue, reconciliation, electoral assistance and facilitating relations between Iraq and its neighbors.

The new UN representative in Iraq, Jenin Hennes Placert, of Dutch origin, was born on 7 April 1973. Placert is a veteran Dutch politician and politician from the Dutch People’s Party for Freedom and Democracy (VVD).

The United Nations assigned to Placert the duties of the Special Representative appointed for UNAMI in October 2018 and became the seventh head of the UN mission in Iraq from the moment after 9 April 2003 until today.

Henness Placert, a member of the European Parliament of the Alliance of Liberals and Democrats in Europe after the European Parliament elections on July 20, 2004, was re-elected after the 2009 European Parliament elections.

In 2010 she was elected to the Dutch House of Representatives after the 2010 general election and resigned as a member of the European Parliament on the same day he took office as a member of the House of Representatives on 17 June 2010.

After the 2012 elections in the Netherlands and then the formation of the Council of Ministers was chosen (Henness Placert) to become Dutch Minister of Defense, served as Minister of Defense until her resignation on October 4, 2017.

According to the French Press Agency, Hennes Placert has more than 20 years of experience in the political and diplomatic fields, having served in several high-level government and parliamentary positions. She became the Dutch Minister of Defense (2012-2017) and was the first woman to be appointed to that post.

She resigned from her position following a report revealing serious failures by her ministry during a UN peacekeeping mission in Mali. Two Dutch soldiers were killed and three others were seriously wounded in a mortar shell explosion during training in Kidal, northeastern Mali, in July 2016.

Since April 2014, the Netherlands has been involved in the UN mission in Mali with about 400 troops, four Apache helicopters and three Chinook transport helicopters on a mission extended by the Dutch government until the end of 2018.

Hines Placert visited Iraq in January 2017 to learn about her country’s missions to train and support Iraqi forces and the Kurdish Peshmerga in its war against the Da’ash organization.   link


Samson:  Coordinating student strike: The government gave us 15 days to implement our demands

19th December, 2018

The student strike coordinator Zulfiqar Hussain confirmed Wednesday (December 19, 2018) that the government has 15 days to carry out the legitimate demands, with an open strike and a sit-in if the demands are not met.

“In the first day of the strike, the initial indicators are positive during the initial observations, where there are schools without students and others where there is a simple presence,” Hussein told local media. “The strike was intended to send a message to the government about education, Entry of the Prime Minister and mentioned during his weekly conference. ”

“At the beginning, we see the first step in order to evaluate the second step and our demands include 15 days of implementation. During this period, discussions on the next step will be an open strike, a demonstration in front of the ministry and a sit-in.”

“The students’ strike is the first time in the history of Iraq,” he said, noting that “many students were subjected to terrorism and pressure by the administration and forced them to always or will be the separation of their fate.”

Al-Munkakiya had announced earlier on the points that led to the strike, including the change of curricula in an incompetent and higher level of students, and the lack of training of teachers on it. It is called to raise the level of professional and physical teacher and provide security for him. Education, investigating the process of changing curricula and printing them and the corruption and waste of public funds.    LINK