In TNT

Tishwash:  Central Bank issues decision on final accounts of electronic payment companies

The Central Bank of Iraq decided on Wednesday to extend the delivery of the final accounts of electronic payment companies.

“It has been decided to extend the time period to provide us with the closing accounts for a maximum of 31 August 2020,” the bank said in a statement to Twilight News.

“The extension of the period comes due to the circumstances in which the country is going through, with the outbreak of the CORONA virus and the difficulty of communicating with the auditor,” he said.

The Central Bank of Iraq was established as an independent bank under its law of March 6, 2004, as an independent body, responsible for maintaining price stability and implementing monetary policy, overseeing 10 commercial banks, 26 community banks and 16 Islamic banks, as well as 19 foreign banks, as well as 6 financial institutions and 31 financial transfer companies.  link

Tishwash:  Iraq is among the 20 countries that have applied for the Russian vaccine

A member of the Crisis Cell in Parliament, Nehru Muhammad, revealed, on Wednesday, that Iraq is among the 20 countries that have applied for the “Corona” vaccine from Russia, while the Ministry of Health has identified the top slots in the priority list.

In a statement to Al-Sabah newspaper, which was seen by Al-Eqtisad News, Muhammad said, “Iraq had previously applied for a vaccine to prevent infection with the Coronavirus during the previous stage,” noting that “the Russian authorities stated that this vaccine will arrive in Iraq soon.” .

And he indicated, “The priority in giving this vaccine will be to critical cases, and then determines the categories that can be provided with the vaccine.”

Russian President Vladimir Putin was; Yesterday, Tuesday, he announced the approval of the production of the first effective vaccine against the emerging corona virus in the world, and instructed the Minister of Health in his country to start “immediately” its production for distribution in Russia and in the countries that reserved to buy it.    link


Harambe:  VnExpress: HSBC is first foreign bank to issue bonds in Vietnam (8/12/20)

HSBC issued VND 600 billion ($25.7 million) worth of bonds on Monday, becoming the first foreign bank to do so in Vietnam.

The bonds have a coupon rate of 5.8 percent and a tenor of three years. The lender said the issuance was oversubscribed.

“We plan to be a regular issuer as we look to position our franchise to continue to be the leading foreign bank in the market,” Tim Evans, CEO of HSBC Vietnam, said in a statement.

The bank will use the proceeds to increase operating capital and diversify local currency funding sources.

Ngo Dang Khoa, its country head of global markets, said Vietnam is among the fastest-growing bond markets in Southeast Asia with issuances accounting for 9.01 percent of GDP in 2018 and 11.3 percent last year.

But it is still small compared to 20-50 percent in other Asian countries like South Korea and Singapore, he said.

So the country needs to do more to encourage investors to buy bonds, and make its legal framework more comprehensive, he said.

Corporate bond issuances rose by 50 percent year-on-year in the first six months of the year to VND159 trillion ($6.8 billion), according to the Hanoi Stock Exchange. Over 59 percent of it was by banks and property developers.

The government recently made moves to tighten bond issuances amid concerns that companies will not be able to repay their debts.

It issued a new decree limiting companies to two issuances a year and to a total value of five times their equity.