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Is JPMorgan the Next Big Thing in Iraq? DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Is JPMorgan the Next Big Thing in Iraq?

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Is JPMorgan the Next Big Thing in Iraq? Empty Is JPMorgan the Next Big Thing in Iraq?

Post by Ponee on Mon Jul 08, 2013 7:42 pm

http://wallstcheatsheet.com/stocks/is-jpmorgan-the-next-big-thing-in-iraq.html/2/


 Is JPMorgan the Next Big Thing in Iraq?



Iraq, a perennially sanctioned and war-torn country, is opening up for business. JPMorgan Chase (NYSE:JPM) is the latest U.S. bank to start expanding its presence in the country. With the UN’s Chapter 7 sanctions lifted, JPMorgan has signed a deal with the TradeIs JPMorgan the Next Big Thing in Iraq? Icon1 Bank of Iraq in order to assist in importing goods and services to the country, Bloomberg reports. The bank’s decision follows the announcement that Citigroup (NYSE:C) will be opening several branches and offices throughout Iraq.

Iraq is the second-largest oil producer in OPEC (trailing only Saudi Arabia), and the country’s central bank is looking for ways to help businesses grow following the devastating period following the ousting of Saddam Hussein in 2003. JPMorgan’s deal with the Trade Bank of Iraq is to “open more letters of credit… on behalf of the government and its ministries,” said a spokesperson for Morgan. The IMF estimates the Iraq economy will grow by 9 percent, which is second only to Libya’s rate among countries in the region.

The recent lifting of Chapter 7 sanctions returned approximately $82 billion to the Iraq central bank, and the government is expected to increase its spending by more than 18 percent this year, creating a wealthIs JPMorgan the Next Big Thing in Iraq? Icon1 of opportunity for foreign investors. Citigroup has already announced it will begin opening branches to capitalize on the estimated $1 trillion in infrastructure spending slated for the coming years

Citigroup has plans for Baghdad, Basra, and Erbil at the moment, while the bank’s lending arm is set to finance an oil pipeline that will go through Jordan. The largest U.S. banks are hoping to become the latest companies capitalizing on the reconstruction of the country as a whole. JPMorgan’s role will be tied to government and central banking activities to start.

Between 2010 and 2012, the five largest banks in Iraq saw their combined net income rise over 200 percent. Their earnings per share doubled during that period as well. Clearly, it is a wide-open market. JPMorgan is positioning itself to be the next bank winning big in a rapidly rebuilding economy.

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Is JPMorgan the Next Big Thing in Iraq? Empty Re: Is JPMorgan the Next Big Thing in Iraq?

Post by clayf on Mon Jul 08, 2013 9:40 pm

Jp morgan was the main force regarding the building of the infrastructure of the CBI way back in the beginning.Dont let them  have you think that they are just now pulling in for the party.They started the party and are now sending out the invites
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Is JPMorgan the Next Big Thing in Iraq? Empty Re: Is JPMorgan the Next Big Thing in Iraq?

Post by Kevind53 on Mon Jul 08, 2013 10:21 pm

:cheers: Is JPMorgan the Next Big Thing in Iraq? 1150991001 

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 Is JPMorgan the Next Big Thing in Iraq? 2805820865  Is JPMorgan the Next Big Thing in Iraq? 2805820865  Is JPMorgan the Next Big Thing in Iraq? 2805820865  Is JPMorgan the Next Big Thing in Iraq? 2805820865
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Is JPMorgan the Next Big Thing in Iraq? Empty Re: Is JPMorgan the Next Big Thing in Iraq?

Post by clayf on Tue Jul 09, 2013 10:35 am

 (SDR Million; based on existing use of resources and present holdings of SDRs):
                                       Forthcoming                                      
         2013  2014  2015  2016  2017 
  Principal111.41497.64423.3737.14
  Charges/Interest5.528.423.170.230.02
   Total116.93506.06426.5437.360.02

 http://www.imf.org/external/np/fin/tad/exfin2.aspx?memberKey1=460&date1key=2013-07-10                                                                                     can anyone answer the 2015 to 2016 sdr drop on this IMF form and why


Last edited by clayf on Tue Jul 09, 2013 10:38 am; edited 1 time in total (Reason for editing : not taking the whole page)
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