Meeting of IBC Chairman and Members with Head of Iraq Mission of the International Monetary Fund

IBC Chairman Dr. Majid Al Sadi, IBC Vice Chairman and Secretary General Mr. Saad Naji, IBC member Mr. Aysar Tobbiya and IBC member and representative of the Iraqi Private Banks Federation Mr. Atheer Al-Qadhi, ABB representative Mr. Alaa Amr and representatives of a number of diplomatic missions in Jordan met on Thursday September 28th 2017 at Amman Intercontinental Hotel with the Head of the Iraqi International Monetary Fund Mission Mr. Christian Joss and the accompanying delegation. During the meeting Mr. Joss reviewed the most important points contained in the recommendations of IMF over the third revision of the 36-month Credit Readiness Agreement with Iraq approved by IMF Executive Council on July 7th 2016.

The Council had had completed the second revision on August 1st 2017. At the end of the meeting Mr. Christian Joss made the following statement which was published on IMF official website:
“The Iraqi Authorities and IMF experts started their discussions in the framework of the third revision of the Credit Readiness Agreement.

Both parties achieved good progress towards reaching an agreement on the 2018 budget in line with the Credit Readiness Agreement.

These discussions will continue during the coming annual meetings to be held by IMF and the International Bank in Washington from 13th – 15th October 2017.”
“IMF team met with the Acting Central Bank Governor Dr. Ali Mohsin Ismael Al-Allaq, the acting Deputy of the Finance Minister Dr. Mahir Johan, officials at the Iraqi Prime Minister’s Office and officials from the Iraqi Ministries of Finance, Oil, Planning and Electricity, the Central Bank of Iraq, Oil Marketing Company (SOMO), Central Statistical Organization and the Board of Supreme Audit.”

IBC Chairman Dr. Majid Al Sadi Participates in Launching of the Arab – African Economic Forum

IBC Chairman Dr. Majid Al Sadi participated on Wednesday September 27th 2017 in the launching of the Arab – African Economic Forum in Amman – Jordan which was opened by the representative of His Majesty King Abdullah II the State Minister for Investment Affairs / Head of the Investment Board Mr. Muhannad Shahadeh, organized by Amman Chamber of Commerce in cooperation with the Federation of Arab Chambers and the Lebanese Economy and Business Group, aiming at developing the Arab – African economic, trade and investment relationships.

More than 500 participants representing 54 Arab, African and foreign countries in addition to Jordan participated in the Forum titled “A Road Map & Funding Available for Successful Investments”

The idea of establishing the Iraqi Business Council is based on the common desire generated by a number of elites. Those who are Iraqi investors and businessmen on the territory of the Hashemite Kingdom of Jordan unanimous in the importance of creating economic reference for them, as well as for those who wish to join them in order to maximize Iraq’s investment in Jordan, as well as to contribute actively to Iraq’s construction and reconstruction.

The idea of establishing the Iraqi Business Council was well-founded and blessed by the Government of the Hashemite Kingdom of Jordan. Accordingly, the approval of the competent Jordanian authorities was commended for launching the Iraqi Business Council in Jordan.

The one who carried out the mission of founding is an elite of Iraqi businessmen of recognized competence and abilities. and since the Council’s inception in late 2006, members have worked towards efforts to support Iraqi investments in Jordan. as well as coordination and cooperation with official entities, to find solutions and proposals to overcome obstacles and constraints facing investors s economic, investment and trade cooperation between Jordan and Iraq.

IBC Chairman Dr. Majid Al Sadi Congratulates the Saudi Ambassador to Jordan His Royal Highness Prince Khalid Bin Faisal Bin Turkey Al-Saud

On the occasion of the 87th anniversary of the National Day of the Kingdom of Saudi Arabia, IBC Chairman Dr. Majid Al Sadi extended congratulations to the Saudi Ambassador to Jordan HRH Prince Khalid Bin Faisal Bin Turkey Al-Saud, which was attended by a number of Princes, Ministers, key Jordanian officials, Heads of Diplomatic Missions in Jordan and a number of journalists.

His Royal Highness delivered a speech on this occasion which reflected the deep correlations existing between the Kingdom of Saudi Arabia and the Hashemite Kingdom of Jordan and the strong ties and solid historic relations rooted in the depths of history that can be witnessed through the wise policies adopted by both Kingdoms through continuous communication and exchange of opinions concerning various issues which come together in all regional and international movements.

 

The idea of establishing the Iraqi Business Council is based on the common desire generated by a number of elites. Those who are Iraqi investors and businessmen on the territory of the Hashemite Kingdom of Jordan unanimous in the importance of creating economic reference for them, as well as for those who wish to join them in order to maximize Iraq’s investment in Jordan, as well as to contribute actively to Iraq’s construction and reconstruction.

The idea of establishing the Iraqi Business Council was well-founded and blessed by the Government of the Hashemite Kingdom of Jordan.

Accordingly, the approval of the competent Jordanian authorities was commended for launching the Iraqi Business Council in Jordan.

The one who carried out the mission of founding is an elite of Iraqi businessmen of recognized competence and abilities. and since the Council’s inception in late 2006, members have worked towards efforts to support Iraqi investments in Jordan.

as well as coordination and cooperation with official entities, to find solutions and proposals to overcome obstacles and constraints facing investors s economic, investment and trade cooperation between Jordan and Iraq.

Head of Iraqi International Monetary Fund Mission (IMF) Discusses With IBC Delegation Developments of the Credit Readiness Agreement with Iraq

Head of the Iraqi International Monetary Fund Mission Mr. Christian Joss and the accompanying delegation discussed with IBC delegation on Thursday September 14th 2017 at the Intercontinental Hotel – Amman the latest developments of the Credit Readiness Agreement with Iraq and the challenges facing the Iraqi private sector.  The meeting was attended by IBC Vice Chairman and Secretary General Mr. Saad Naji, IBC Board member Mr. Ahmed Al-Sarraf, IBC member Mr. Aysar Tobiyah, member of the Iraqi National Business Council Mr. Ghadeer Al-Attar and Ms. Basma Mumtaz Al-Taie on behalf of Board member Mr. Mumtaz Al-Taie, the Non-Resident Representative of IMF (for Iraq and Yemen) Ms. Marwa Al-Naasa, IMF Economist for Iraq Affairs Dr. Ghazi Shbekat, Representative of EDGO Mr. Hamza Al-Asadi, IBC CEO and staff, in addition to a number of IMF experts and specialists.

The idea of establishing the Iraqi Business Council is based on the common desire generated by a number of elites. Those who are Iraqi investors and businessmen on the territory of the Hashemite Kingdom of Jordan unanimous in the importance of creating economic reference for them, as well as for those who wish to join them in order to maximize Iraq’s investment in Jordan, as well as to contribute actively to Iraq’s construction and reconstruction.

The one who carried out the mission of founding is an elite of Iraqi businessmen of recognized competence and abilities. and since the Council’s inception in late 2006, members have worked towards efforts to support Iraqi investments in Jordan. as well as coordination and cooperation with official entities, to find solutions and proposals to overcome obstacles and constraints facing investors s economic, investment and trade cooperation between Jordan and Iraq.

Signing a Cooperation Agreement Between Talal Abu Ghazala Organization, IBC – Jordan

Talal Abu Ghazala Organization, IBC – Jordan and the Iraqi National Business Council concluded on Sunday September 10th 2017 a Cooperation Agreement to provide services to members of the two Business Councils including member companies, institutions, investors and Iraqi businessmen in all fields.

The Agreement was signed by Dr. Talal Abu Ghazala, IBC Vice Chairman and Secretary General Mr. Saad Naji and Vice Chairman of the Iraqi National Business Council – Iraq Mr. Sabah Ghedan at Talal Abu Ghazala University – Amman.

During the signing ceremony, Dr. Abu Ghazala emphasized his pride in concluding the Agreement that includes economic leaders allowing the Group to contribute to the rebuilding of Iraq.

Dr. Abu Ghazala pointed out that the rebuilding of the country is parallel to capacities building.

He further pointed out that Iraq is very important as well as all Arab countries, but at this stage Iraq  is getting more attention in the aftermath of the great victory Iraq achieved in liberating its lands, pointing out that his Group is working on developing plans and strategies to perform its duty in Iraq especially in this crucial period.

Dr. Abu Ghazala further pointed out that the main methods to eliminate corruption would be through the electronic government where technology grants equality to everyone and achieves social justice.

Dr. Abu Ghazala provided scholarships to rehabilitate one thousand legal accountants from Nineveh Province, especially to the children of martyrs, who shined and towered in the battle of Mosul liberation.

On his part, Mr. Sabah Ghedan expressed his pride over contracting with Talal Abu Ghazala Organization, which is the first group in the world that have all qualifications to provide various services.

Mr. Ghedan further elaborated that Abu Ghazala Organization is a scientific organization that implements work on scientific basis which makes it a very significant partner in the construction of Iraq and contributing to eliminate corruption.

IBC Vice Chairman Mr. Naji was quoted as saying “We did not hesitate even for one minute to cooperate with Talal Abu Ghazala Organization to become our partner in construction and providing support.”

Mr. Naji extended appreciation to D. Abu Ghazala for the scholarships he offered to Iraqi youth.

He also expressed his confidence that such partnership would yield significant results by pushing Iraq forward.

The fields of cooperation included the preparation and evaluation of economic feasibility studies, projects and businesses plans, building of human resources systems, preparation of strategic plans for companies and institutions, sectoral studies, in addition to cooperation in the field of administrative consultancies related to administrative systems which include quality and safety systems, consultations relating to quality assurance, academic reliance, intellectual property and audit.

The Agreement also included cooperation in concluding and implementing activities relating to information technology, education, educational consultations, training and certificates, projects and laws, tenders, professional qualifications, translation and knowledge society.

On IBC side, the meeting was attended by IBC Vice Chairman Mr. Nazar Awchi, Board member Mr. Mumtaz Al-Taie and a number of IBC members; Mr. Fakhri Rishan, Mr. Ahmed Al-Amili, Mr. Aqeel Al-Hadi, Mrs. Ula Jaudeh on behalf of Mr. Faris Al-Derzi, IBC CEO and staff.  As on the Iraqi National Business Council – Iraq side, the meeting was attended by Mr. Saad Al-Nuaimi, Mr. Hayder Sabah Ghedan, Mrs. Suha Al-Najjar and Mr. Mufeed Al-Hiti.

On Talal Abu Ghazala Organization side, the meeting was attended by the CEO of Talal Abu Ghazala Knowledge Forum Mr. Luay Abu Usba, the Director of Quality Systems Consultations Mrs. Hiba Abdul Qadir, Dr. Talal Abu Ghazala’s Advisor MP Hassan Abu Nima and Abu Ghazala Organization Heads of Departments, in addition to a crowd of media and Satellite TV Channels.

The signing ceremony was broadcasted live on Talal Abu Ghazala Radio Station in Jordan.