Tues. AM TNT News Articles 11-16-21



Barham Salih: The Middle East is going through a critical phase, with its center in Iraq

Iraqi President Barham Salih said that the Middle East is going through a decisive and transitional phase, and the center and balance of this phase is Iraq, and what will happen in it will have major repercussions on the whole region.

In his speech at the Peace and Security Forum in the Middle East, held in the city of (Dohuk), Saleh expressed his hope that the elections would end with legal and constitutional results and would result in the formation of a government that meets the rights of Iraqis to lead a free and dignified life.

Saleh explained – according to the Iraqi National Agency today, Tuesday, that the next stage is a stage of great entitlements in Iraq; It requires delving into its real problems, adding that we have a problem in establishing the foundations of good governance and the way the state should be performed.

He added that “the outstanding problems between the federal government and the Kurdistan region must be resolved through real dialogue in Baghdad to overcome the annual problems that occur around the budget and other issues.”

He pointed out that the Middle East is going through a decisive and transitional phase, and the center and balance of this phase is Iraq, and what will happen in it will have great repercussions on the whole region.   link

Iraq submits a message to join the Asian Infrastructure Investment Bank


The Iraqi embassy in Beijing announced, on Tuesday, that Iraq submitted a letter to its joining the Asian Infrastructure Investment Bank, while noting that Iraq is in dire need of infrastructure reconstruction projects, especially in the field of electric power.

The embassy said in a statement seen by “Economy News”, that “the ambassador of the Republic of Iraq in Beijing, Shorsh Khaled Saeed, met with the Vice President of the Asian Investment Bank for Infrastructure, who is specialized in the affairs of joining the new members, Ludger Schocknecht,” noting that “an explanation was provided about the steps that will be taken after The document and letter of Iraq’s accession to the Bank were delivered.

And she added, “Iraq’s request will be referred to the Board of Directors during the next week to vote and approve it, and then Iraq’s request will be presented to the Board of Governors to vote and approve Iraq’s accession, which will take about twenty days,” expressing his hope “that this will be completed.” Procedures by the end of this year, so that Iraq will be declared a visible member, and thus Iraq will become a full member.

For his part, the Iraqi ambassador affirmed, “Iraq’s keenness and seriousness to join the Bank,” noting that “Iraq is in dire need of infrastructure reconstruction projects, especially in the field of electric power, due to the damage to its infrastructure as a result of previous wars and terrorist attacks against some regions of Iraq.” “.

It is worth noting that the bank, which is headquartered in the Chinese capital, Beijing, has provided dozens of loans to its members from countries with the aim of establishing infrastructure projects.


The Saudi Export-Import Bank signs agreements with 3 commercial banks worth 118 million dollars


The Saudi Export-Import Bank signed agreements with 3 commercial banks with a total value of $118 million, on the sidelines of the launch of the ninth annual Saudi Trade Finance Summit

The bank, according to what was reported by the Saudi Press Agency “SPA”, today, Monday, signed an insurance policy to enhance documentary credits with the Saudi British Bank “SABB” amounting to 238 million Saudi riyals; That is the equivalent of $63.5 million

The document allows SABB to raise its capabilities to accept and further enhance documentary credits in favor of Saudi exports, and to expand its dealings with foreign banks that issue documentary credits; As the insurance coverage contributes to increasing the opportunities for Saudi products to enter new markets and expand into existing markets

The Saudi Export-Import Bank also signed credit line agreements with the Jordan Money Bank and the National Bank of Iraq with a total value of 55 million dollars to support importers of Saudi goods, services and products in the Jordanian and Iraqi markets

The two agreements gain their importance from the promising opportunities for Saudi exports to the two brotherly countries and the good reputation of Saudi non-oil products that are characterized by high quality and competitiveness in vital sectors that enrich the region’s markets and contribute to supporting trade relations between the Kingdom and the two brotherly countries

These agreements come within joint efforts to achieve industrial and financial sustainability, business development, attract investment, provide jobs, and operate logistics facilities, companies, banks, and other parties involved in export operations. This is in light of positive indicators in the second quarter of this year that indicated an increase in the contribution of the non-oil sector to the GDP by 8.4% compared to the second quarter of 2020 

Today, Monday, the ninth annual Saudi Trade Finance Summit kicked off. With the active participation of the Saudi Export-Import Bank, the platinum sponsor of the summit; Under the title “Flexibility in trade, supply chains and treasury management .

The two-day summit, from 15-16 November 2021, brought together experts and leaders of leading financial institutions; To discuss stimulating plans to increase the effectiveness of the economic system, and the changing trends in the trade finance sector; In order to chart the features of the future of the Saudi economy; This is within the framework of joint efforts to develop financial strategies and build effective systems to advance the commercial finance sector   link

Source: Dinar Recaps



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