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International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank

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International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank Empty International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank

Post by claud39 on Tue May 21, 2019 8:01 am

[rtl]International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank[/rtl]





2019/5/21





International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank Story_img_5ce3c69771af4



[rtl]
The International Finance Corporation (IFC), a member of the World Bank Group, has signed a memorandum of understanding with the International Development Bank (IDB), one of Iraq's leading private banks, to start cooperation and expand financial services to the private sector and boost the country's economy.

The agreement helps the International Development Bank for investment and finance to strengthen its position locally and support private and public sector companies. 
In view of the limited access of Iraqi companies to financing, the cooperation between IFC and the International Development Bank is aimed at facilitating access by the Bank's customers to financial services such as loans, trade finance and other forms of financing, which ultimately helps them to create jobs and contribute effectively to the process. Economic and social development. 
The agreement aims to expand financial services and contribute to the revitalization of trade finance and to participate in the reconstruction process effectively. This step is a confirmation of the achievements of the International Development Bank and the Bank has adopted comprehensive strategies and implementation of the principles of sound corporate governance and continuous investment in IT systems and infrastructure to reflect The true picture of the Iraqi banking sector and its ability to provide comprehensive banking services.
Said that this agreement translates and confirms the achievements of the International Development Bank from the maturity of banking and implementation to the pioneering practices in corporate governance as well as having a large infrastructure in the banking technology systems and maintaining a strong and strong financial position that contributed to the signing of this agreement with the International Finance Corporation (IFC), which has always chosen the leading partners in all the developing countries in which it works to encourage sustainable projects in these countries which are characterized by economic benefit and financial and commercial safety in addition to its social sustainability and from this point of view and awareness of our bank and faith With the same principles and vision of the International Finance Corporation (IFC), there was a point of convergence and intersection to build a strategic partnership between the International Development Bank. This partnership aims to develop the initiative in investment projects in the private and public sectors and contribute to the economic development in Iraq in addition to sustainable development and improvement. Living conditions. He also praised the importance of this agreement in the implementation of the decision of the General Secretariat of the Council of Ministers and circulars of the Central Bank of Iraq, which aims to liberalize the banking sector and support in the implementation of commercial financing operations of public sector institutions without the mediation of government banks.
This effort is part of IFC's strategy to support Iraq's private sector and help diversify its economy and reduce its dependence on the oil sector and state-owned enterprises. 
"Iraq is a priority for the IFC and we will remain committed to supporting its economic growth," said Dalia Wehbe, Director of the International Finance Corporation for the Middle East and North Africa (MENA) region. "The choice of DFID as our partner under the signed Memorandum of Understanding comes after emerging DFID has recently been among eligible banks that have the infrastructure that is in line with the principles and requirements of IFC. We hope to provide various products and services to the Development Bank and help it meet the needs of the public and private sectors in commercial finance operations. "
IFC's portfolio has grown significantly over the past five years and now stands at over $ 1.5 billion. 
The International Development Bank for Investment and Finance (IDB) was established in 2011 with a branch network of 15 branches in Iraq as well as representative offices in the UAE and Lebanon. Today, the bank is one of the leading banks in Iraq in the field of providing corporate and individual banking services. He represents the Ziad Khalaf family, one of its main sponsors. Since 2018, the shareholder base has expanded and currently includes more than 100 ordinary shareholders.
IFC, the sister institution of the World Bank and a member of the World Bank Group, is the world's largest private sector development firm focusing on emerging markets. IFC collaborates with more than 2,000 companies worldwide and uses its capital, expertise and influence to create markets and create opportunities in the most challenging regions around the world. In fiscal year 2018, it was able to provide more than $ 23 billion in long-term financing in developing countries, drawing on the strength of the private sector to reduce extreme poverty and promote common prosperity.



[/rtl]
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International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank Empty Signing a memorandum of understanding for cooperation between the International Development Bank and IFC in the field of investment and consulting

Post by claud39 on Tue May 21, 2019 8:26 am

Signing a memorandum of understanding for cooperation between the International Development Bank and IFC in the field of investment and consulting




21/05/2019 





International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank 15275







Economy News Baghdad

The International Finance Corporation (IFC), a member of the World Bank Group, has signed a memorandum of understanding with the International Development Bank ( IDB ), one of Iraq's leading private banks, to begin cooperation and expand financial services to the private sector and support the country's economy.

"This memorandum of understanding would help the International Development Bank for investment and finance strengthen its position locally and support private and public sector companies," the development bank said in a statement read by the economy. 

"The cooperation between IFC and the International Development Bank is aimed at facilitating access to financial services such as loans, trade finance and other forms of financing to the Bank's customers, which ultimately helps them create jobs and contribute effectively to economic and social development."
"This agreement translates and confirms the achievements of the International Development Bank from bank maturity and implementation to leading practices in corporate governance as well as having a huge infrastructure in banking technology systems and maintaining a financial position," said Ziad Khalaf Abd, Chairman of the Bank. Strong and strong. "

"The International Finance Corporation ( IFC ) has always chosen leading partners in all the developing countries it works to promote sustainable projects in these countries which are characterized by economic benefit and financial and commercial integrity as well as social sustainability."

He also praised the importance of this agreement in the implementation of the decision of the General Secretariat of the Council of Ministers and circulars of the Central Bank, which aims to liberalize the banking sector and support in the implementation of commercial financing operations of public sector institutions and without the mediation of government banks.

"Iraq is a priority for the IFC and we remain committed to supporting its economic growth," said Dalia Wahba, IFC Director for the Middle East and North Africa.

She added: "The selection of the International Development Bank as our partner under the signed memorandum of understanding follows the recent emergence of the International Development Bank among eligible banks that have the infrastructure in line with the principles and requirements of IFC. We hope to provide various products and services to the Development Bank and its assistance To meet the needs of the public and private sector in trade finance operations. "



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International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank Empty IFC, International Development Bank Launch Effort to Expand Financial Services in Iraq

Post by claud39 on Wed May 22, 2019 10:21 am

IFC, International Development Bank Launch Effort to Expand Financial Services in Iraq



May 21, 2019





International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank Logo_ifc






In Cairo: 
Riham Mustafa 
Phone: +202 2461 4230 
E-mail: 
rmustafa@ifc.org
 

Mohamed Essa: 
Phone: +202 2461 4331 
E-mail: messa@ifc.org

Beirut, Lebanon, May 21, 2019 IFC, a member of the World Bank Group, today signed a memorandum of understanding (MoU) with the International Development Bank (IDB), one of Iraq’s leading financial institutions, to examine ways of expanding financial services to Iraq’s private sector. 

The memorandum will help IDB as it further strengthens its local footprint and increases its outreach to private sector companies. The collaboration between IFC and IDB aims to make it easier for bank clients to access financial services, like loans and trade financing, ultimately helping them to expand and create jobs. The memorandum is considered important in a country where businesses have limited access to finance. 

“Despite the challenges facing Iraq's banking sector, IDB has made investments that have contributed to the economic and social development of Iraq,” said Ziad Khalaf Abed, IDB Chairman. “We are confident that this MOU will offer new opportunities for IDB and its clients. Working with IFC will equip us with banking services and trade financing lines that will support the Iraqi private sector and contribute to the nation-wide reconstruction effort. We are committed to maintaining our position as the most innovative and technologically oriented bank in Iraq.” 

The effort is part of IFC’s strategy to support Iraq’s private sector and help the country diversify its economy, lessening its reliance on the oil sector and state-run firms. 

Dalia Wahba, IFC Country Manager in Levant said: “Iraq is a priority country for IFC and we remain committed to supporting its economic growth. The financial sector can play a critical role in addressing pressing development challenges, and in helping Iraq to diversify and modernize its economy.” 

Over the last nine years, IFC has committed $1.5 billion in Iraq, including mobilization, and its portfolio currently stands at $330 million. 

About IDB 
International Development Bank for Investment and Finance (IDB) was established in 2011.  It is now one of the leading banks in Iraq, offering commercial banking services for retail and corporate clients. Its main sponsors are members of the Ziyad Khalaf family. Since 2018, its shareholder base has expanded and currently includes more than 100 holders of common shares. 

About IFC 
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org 

Stay Connected 
www.facebook.com/IFCmena 
www.twitter.com/IFC_mena 
www.youtube.com/IFCvideocasts 

www.ifc.org/SocialMediaIndex 
www.instagram.com\ifc_org



https://ifcextapps.ifc.org/IFCExt/Pressroom/IFCPressRoom.nsf/0/D4933E135F3BA94E85258402002F9258
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International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank Empty Cooperation between the International Finance Corporation and the International Development Bank to improve financial services in Iraq

Post by claud39 on Wed May 22, 2019 10:24 am

Cooperation between the International Finance Corporation and the International Development Bank to improve financial services in Iraq



May 21, 2019.





International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank Logo_ifc










In Cairo:


Reham Mostafa

Tel .: +42 202 2461 4230

E-mail: rmustafa@ifc.org


Mohammed Issa

Tel: + 202 2461 4331

E-mail: messa@ifc.org


Beirut, Lebanon, May 21, 2019. The International Finance Corporation (IFC), a member of the World Bank Group, has signed a memorandum of understanding with the International Development Bank (IDB), one of Iraq's leading financial institutions, to explore ways to expand financial services to the private sector and boost the country's economy.


This MoU would help the International Development Bank for investment and finance to strengthen its position locally and support private sector companies. The aim of this cooperation is to facilitate the access of the Bank's customers to financial services such as loans, trade finance and other forms of financing, which will help create jobs and contribute effectively to the economic and social development process.


The agreement aims at expanding the scope of services and financing the private sector, supporting the Iraqi economy, expanding financial services and contributing to the activation of trade finance operations in addition to giving a real picture of the reality of the banking institutions in Iraq and the reconstruction process. This step is an affirmation of the Bank's ongoing achievements and the Bank's adoption of comprehensive strategies and implementation of corporate governance principles and continuous investment in IT systems and infrastructure to reflect the true image of the Iraqi banking sector and its ability to provide comprehensive banking services.


Mr. Ziyad Khalaf Abed, Chairman of the Board of Directors of the International Development Bank, said: "This agreement translates and confirms the achievements of the International Development Bank from banking maturity and implementation to leading practices in corporate governance as well as having a huge infrastructure in banking technology systems and maintaining a solid financial position. Which has contributed to the signing of this agreement with the International Finance Corporation (IFC), which has always chosen the leading partners in all developing countries in which to work to promote sustainable projects in these countries "


This effort is part of IFC's strategy to support Iraq's private sector and help diversify its economy and reduce its dependence on the oil sector and state-owned enterprises.


"Iraq is a priority country for the IFC and we will remain committed to supporting its economic growth," said Dalia Wahba, IFC Director for the Levant region. "The financial sector can play an active role in addressing the pressing development challenges and helping Iraq diversify and modernize its economy."


IFC's investments have grown significantly over the past nine years. IFC has invested $ 1.5 billion in Iraq (including joint investments with others) and our current portfolio of projects is $ 330 million.


About the International Development Bank

The International Development Bank for Investment and Finance (IDB) was established in 2011 with a branch network of 15 branches in Iraq as well as representative offices in the UAE and Lebanon. Today, the Bank is one of the leading banks in Iraq in the field of providing corporate and individual banking services with a total assets of about US $ 700 million. He represents the Ziad Khalaf family, one of its main sponsors. Since 2018, the shareholder base has expanded and currently includes more than 100 ordinary shareholders.


About the International Finance Corporation

The International Finance Corporation (IFC), the sister institution of the World Bank and a member of the World Bank Group, is the world's largest private sector development firm focusing on emerging markets. We partner with IFC with more than 2,000 companies worldwide and use our capital, expertise and influence to create markets and create opportunities in the most challenging regions around the world. In fiscal year 2018, we have been able to provide more than $ 23 billion in long-term financing in developing countries, drawing on the strength of the private sector to reduce extreme poverty and promote common prosperity. For more information, please visit www.ifc.org


Stay Connected:

www.facebook.com/IFCmena

www.twitter.com/IFC_mena

www.youtube.com/IFCvideocasts

www.ifc.org/SocialMediaIndex

www.instagram.com \ ifc_org






https://ifcextapps.ifc.org/IFCExt/Pressroom/IFCPressRoom.nsf/0/F49A8C49FE685AE68525840200300022
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International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank Empty Signing a memorandum of understanding for cooperation between the International Development Bank and IFC in the field of investment and consulting

Post by claud39 on Wed May 22, 2019 1:13 pm

Signing a memorandum of understanding for cooperation between the International Development Bank and IFC in the field of investment and consulting 


22/05/2019







International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank 695





Beirut, May 20, 2019. The International Finance Corporation (IFC), a member of the World Bank Group, has signed a memorandum of understanding with the International Development Bank (IDB), one of Iraq's leading private banks, to start cooperation and expand financial services to the private sector and support the country's economy. 
 
This MoU would help the International Development Bank for Investment and Finance strengthen its position locally and support private and public sector companies. In view of the limited access of Iraqi companies to financing, the cooperation between IFC and the International Development Bank is aimed at facilitating access by the Bank's customers to financial services such as loans, trade finance and other forms of financing, which ultimately helps them to create jobs and contribute effectively to the process. Economic and social development. 
 
The agreement aims to expand financial services and contribute to the revitalization of trade finance and to participate in the reconstruction process effectively. This step is a confirmation of the ongoing achievements of the International Development Bank and after the Bank adopted comprehensive strategies and implementation of the principles of sound corporate governance and continuous investment in IT systems and infrastructure to reflect the true image of the Iraqi banking sector and its ability to provide comprehensive banking services.
 
Said that this agreement translates and confirms the achievements of the International Development Bank from the maturity of banking and implementation to the pioneering practices in corporate governance as well as having a large infrastructure in the banking technology systems and maintaining a strong and strong financial position that contributed to the signing of this agreement with the International Finance Corporation (IFC), which has always chosen the leading partners in all the developing countries in which it works to encourage sustainable projects in these countries which are characterized by economic benefit and financial and commercial safety in addition to its social sustainability and in this sense and the recognition of our bank and faith With the same principles and vision of the International Finance Corporation (IFC), there was a point of convergence and intersection to build a strategic partnership between the International Development Bank. This partnership aims to develop the initiative in investment projects in the private and public sectors and contribute to the economic development in Iraq in addition to sustainable development and improvement. Living conditions. Mr. Ziad also praised the importance of this agreement in the implementation of the decision of the General Secretariat of the Council of Ministers and circulars of the Central Bank, which aims to liberalize the banking sector and support in the implementation of commercial finance operations of public sector institutions and without the mediation of government banks "
 
This effort is part of IFC's strategy to support Iraq's private sector and help diversify its economy and reduce its dependence on the oil sector and state-owned enterprises. 
 
"Iraq is a priority for the IFC and we remain committed to supporting its economic growth," said Dalia Wahba, Director of the International Finance Corporation for the Middle East and North Africa, Middle East and North Africa (MENA) region. The latter are among eligible banks that have the infrastructure in line with the principles and requirements of IFC. We hope to provide various products and services to the Development Bank and help it meet the needs of the public and private sectors in commercial finance operations. "
 
IFC's portfolio has grown significantly over the past five years and now stands at over $ 1.5 billion. 
About the International Development Bank 
The International Development Bank for Investment and Finance (IDB) was established in 2011 with a branch network of 15 branches in Iraq as well as representative offices in the UAE and Lebanon. The bank today is one of the leading banks in Iraq, in the field of providing banking services for companies and individuals with a total assets of about (850) billion Iraqi dinars. He represents the Ziad Khalaf family, one of its main sponsors. Since 2018, the shareholder base has expanded and currently includes more than 100 ordinary shareholders. 
 
About the International Finance Corporation
The International Finance Corporation (IFC), the sister institution of the World Bank and a member of the World Bank Group, is the world's largest private sector development firm focusing on emerging markets. IFC collaborates with more than 2,000 companies worldwide and uses its capital, expertise and influence to create markets and create opportunities in the most challenging regions around the world. In fiscal year 2018, it was able to provide more than $ 23 billion in long-term financing in developing countries, drawing on the strength of the private sector to reduce extreme poverty and promote common prosperity.







http://www.ipbl-iraq.org/content.php?id=226







International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank 701



International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank 699



International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank 697



International Finance Corporation (IFC) Signs Memorandum of Understanding with Iraqi Bank 695





http://www.ipbl-iraq.org/content.php?id=226
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