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The New Iraq: 2015/2016 Discovering Business
2015|2016 Discovering Business Iraq N NIC n a o t i io s n is al m In om in association with vestment C USINESS B Contents ISCOVERING Introduction Iraq continues as a major investment opportunity 5 Messages - 2015|2016 D - 2015|2016 Dr. Sami Al-Araji: Chairman of the National Investment Commission 8 RAQ HMA Frank Baker: British Ambassador to Iraq 10 I Baroness Nicholson of Winterbourne: Executive Chairman, Iraq Britain Business Council 12 EW N Business Matters HE Doing business in Iraq from a taxation perspective - PricewaterhouseCoopers 14 T Doing business in Iraq - Sanad Law Group in association with Eversheds LLP 20 Banking & Finance Citi has confidence in Iraq’s investment prospects - Citi 24 Common ground for all your banking needs - National Bank of Iraq 28 Iraq: Facing very challenging times - Rabee Securities 30 2005-2015, ten years stirring the sound of lending silence in Iraq - IMMDF 37 Almaseer - Building on success - Almaseer Insurance 40 Emerging insurance markets in Iraq - AKE Insurance Brokers 42 Facilitating|Trading Organisations Events & Training - Supporting Iraq’s economy - CWC Group 46 Not just knowledge, but know how - Harlow International 48 HWH shows how smaller firms can succeed in Iraq - HWH Associates 51 The AMAR International Charitable Foundation - AMAR 56 Oil & Gas Hans Nijkamp: Shell Vice President & Country Chairman, Iraq 60 Energising Iraq’s future - Shell 62 Oil production strategy remains firmly on course 66 Projects are launched to harness Iraq’s vast gas potential 70 Major investment in oilfield infrastructure -
GENDER PROFILE – IRAQ a Situation Analysis on Gender Equality and Women’S Empowerment in Iraq
RESEARCH REPORT DECEMBER 2018 Photo Credit: Abbie Trayler-Smith/Oxfam GENDER PROFILE – IRAQ A situation analysis on gender equality and women’s empowerment in Iraq VALERIA VILARDO Gender and Conflict Analyst SARA BITTAR Consultant CONTENTS Acronyms and abbreviations……………………………………………3 Executive Summary……………………………………………………...4 Introduction………………………………………………………………..5 Gender, peace and security agenda………………….………………18 Women’s leadership and political participation……………………...20 Women in the economy…………………………………….................24 Violence against Women and Girls (VAWG)……...…………………35 Women’s access to health……………………………………………..46 Women’s access to justice…………………………………………….51 Women’s participation in ICT, media and civil society……….……..55 Conclusions and recommendations……………………….………….58 Annex 1………………………………………………………….……….58 Notes……………………………………………………………………..64 Acknowledgements……………………………………………………..73 2 Country Gender Profile – Iraq ACRONYMS AND ABBREVIATIONS BWA Baghdad Women Association CEDAW Convention on the Elimination of all forms of Discrimination Against Women CRC Convention on the Rights of the Child ICCPR International Covenant on Civil and Political Rights FGD Focus group discussion FGM/C Female genital mutilation/cutting GBV Gender-based violence GDI UN Gender Development Index IDPs Internal displaced people ILO International Labor Organization IOM International Organization for Migration INAP Iraqi National Action Plan IPU Inter-Parliamentary Union IQD Iraqi Dinar ISIL Islamic State in Iraq and the Levant KIIs Key informant interviews -
IRAQI DINAR DEVALUATION and the PRICE of the FOOD BASKET Macro-Economic Situation
IRAQI DINAR DEVALUATION AND THE PRICE OF THE FOOD BASKET Macro-economic Situation Significant decline in oil revenues, a history of expansion of the state’s role in the economy and competitive currency exchange rates from neighboring countries pushed the Iraqi Government into a budget deficit by the end of 2020. This led to the Government taking a firm measure for policy reform to mitigate risks and restore the economy. Throughout, WFP has been monitoring food and market prices. This report presents an analysis and findings of the effects of the recent currency devaluation on food prices, including on the most vulnerable households. Towards the end of 2019, Iraq and other members of the Organization of the Petroleum Exporting Countries (OPEC) witnessed a decrease in oil prices and struggled to reach a speedy consensus on production cuts to boost demand and stem the price decline. The demand for oil was further hampered by the COVID-19 pandemic and resultant world-wide lockdowns in 2020. Iraq, the world’s third biggest oil exporter, remains heavily dependent on oil which contributes to 90 percent of the government’s revenue, a dependency much higher than other oil exporting countries in the MENA region. This twin shock of decreased demand and price of oil has impacted Iraq’s economy and Government budget the most. Impact of One Dollar Change in Oil Price on Revenue Oil Revenue vs. Non-Oil Revenue (In percent of non-oil GDP) (In share of total revenue) 1.2 Kuwait Iraq 1 Oman 0.8 Qatar Bahrain 0.6 UAE 0.4 Saudi Arabia Yemen 0.2 Algeria Oil revenues are critical for Iraq. -
Babylon: Ancient History Brought to Life by Sgt
Click here to subscribee July 22, 2009 Babylon: ancient history brought to life By Sgt. Debralee P. Crankshaw MND-S AL HILLAH – High-reaching walls, an- cient statues and a past fi lled with wonders and fame are an intrinsic part of Babylon. Maj. Gen. Rick Nash, Multi-National Di- vision – South commanding general, Brig. Gen. Gerald Lang, MND-S deputy com- manding general for support, Command Sgt. Maj. Doug Julin, MND-S senior enlisted leader and other Soldiers and civilians vis- ited the site July 18 to see what this ancient city has to off er for Iraq. “The mission (to Babylon) was to edu- cate those on the command staff and some of the primary staff members on the impor- tance of the religious aspects of this country and what there is to off er,” said Julin. “Even though we are at war there are some very important things we have to preserve here and help them preserve as well.” Babylon is recognized by some as one of the fi rst civilizations on earth. “Babylon was established as a sett lement in 3000 B.C. and was a product of dynasty work which was already old here,” said Ahmed Aziz Ibrheme, an archeologist with the Department of Babylon city. “It has a long history of about 5,000 years.” Babylon’s story is not only one of great length, but also one of much fame and his- torical signifi cance. The earliest of this fame is Hammurabi and his legal code around 1700 B.C. This code was displayed on tablets so everyone could read them. -
Investment Map of Iraq 2016
Republic of Iraq Presidency of Council of Ministers National Investment Commission Investment Map of Iraq 2016 Dear investor: Investment opportunities found in Iraq today vary in terms of type, size, scope, sector, and purpose. the door is wide open for all investors who wish to hold investment projects in Iraq,; projects that would meet the growing needs of the Iraqi population in different sectors. Iraq is a country that brims with potential, it is characterized by its strategic location, at the center of world trade routes giving it a significant feature along with being a rich country where I herby invite you to look at Iraq you can find great potentials and as one of the most important untapped natural resources which would places where untapped investment certainly contribute in creating the decent opportunities are available in living standards for people. Such features various fields and where each and characteristics creates favorable opportunities that will attract investors, sector has a crucial need for suppliers, transporters, developers, investment. Think about the great producers, manufactures, and financiers, potentials and the markets of the who will find a lot of means which are neighboring countries. Moreover, conducive to holding new projects, think about our real desire to developing markets and boosting receive and welcome you in Iraq , business relationships of mutual benefit. In this map, we provide a detailed we are more than ready to overview about Iraq, and an outline about cooperate with you In order to each governorate including certain overcome any obstacle we may information on each sector. In addition, face. -
CRS Report for Congress Received Through the CRS Web
Order Code RL32025 CRS Report for Congress Received through the CRS Web Iraq’s Trade with the World: Data and Analysis Updated December 2, 2003 Vivian C. Jones Analyst in International Trade and Finance Foreign Affairs, Defense, and Trade Division Congressional Research Service ˜ The Library of Congress Iraq’s Trade with the World: Data and Analysis Summary In the last 25 years, Iraq’s economic involvement in the world market has fluctuated dramatically — brought about, in part, by damage to its oil infrastructure during the Iran-Iraq War of the 1980s, and followed by international sanctions imposed in the 1990s following Iraq’s invasion of Kuwait. Iraq has been largely dependent on exports of crude oil since the end of World War II. Exports of oil accounted, on average, for 83% of Iraq’s annual exports from 1980-1990. When international sanctions were imposed in August 1990, Iraq’s oil sales dropped from $10.2 billion in 1990 to $305 million in 1991. From 1991 to 1995 the regime of Saddam Hussein declined to accept United Nations (UN) proposals seeking to permit Iraq to sell limited quantities of oil to meet the needs of its people. Without oil export revenues, living conditions in the country deteriorated sharply. In 1996, the Iraqi government agreed to the establishment of United Nations- administered Oil-For-Food Program (OFFP) that has allowed the Iraqi government to export limited amounts of oil and import food and humanitarian supplies under close supervision. On May 22, 2003, the UN Security Council adopted Resolution 1483, lifting all civilian trade sanctions on Iraq, providing for the termination of the OFFP, and the transfer of all remaining transactions under the program to the Coalition Provisional Authority (CPA). -
Cultural Orientation | Arabic-Iraqi
ARABIC-IRAQI Al Faw Palace or Water Palace, Baghdad Flickr / Jeremy Taylor DLIFLC DEFENSE LANGUAGE INSTITUTE FOREIGN LANGUAGE CENTER CULTURAL ORIENTATION | ARABIC-IRAQI TABLE OF CONTENT Profile Introduction ................................................................................................................... 6 Geography .................................................................................................................... 7 Geographic Divisions and Topographic Features .................................................. 7 Desert ....................................................................................................................7 Upper Tigris and Euphrates Upland .................................................................8 Northeast Highlands ...........................................................................................8 Alluvial Plains .......................................................................................................9 Climate ........................................................................................................................... 9 Rivers and Lakes ........................................................................................................10 Tigris River ..........................................................................................................10 Euphrates River ................................................................................................10 Shatt al-Arab ..................................................................................................... -
Iraq, August 2006
Library of Congress – Federal Research Division Country Profile: Iraq, August 2006 COUNTRY PROFILE: IRAQ August 2006 COUNTRY Formal Name: Republic of Iraq (Al Jumhuriyah al Iraqiyah). Short Form: Iraq. Term for Citizen(s): Iraqi(s). Click to Enlarge Image Capital: Baghdad. Major Cities (in order of population size): Baghdad, Mosul (Al Mawsil), Basra (Al Basrah), Arbil (Irbil), Kirkuk, and Sulaymaniyah (As Sulaymaniyah). Independence: October 3, 1932, from the British administration established under a 1920 League of Nations mandate. Public Holidays: New Year’s Day (January 1) and the overthrow of Saddam Hussein (April 9) are celebrated on fixed dates, although the latter has lacked public support since its declaration by the interim government in 2003. The following Muslim religious holidays occur on variable dates according to the Islamic lunar calendar, which is 11 days shorter than the Gregorian calendar: Eid al Adha (Feast of the Sacrifice), Islamic New Year, Ashoura (the Shia observance of the martyrdom of Hussein), Mouloud (the birth of Muhammad), Leilat al Meiraj (the ascension of Muhammad), and Eid al Fitr (the end of Ramadan). Flag: The flag of Iraq consists of three equal horizontal bands of red (top), white, and black with three green, five-pointed stars centered in the white band. The phrase “Allahu Akbar” (“God Is Great”) also appears in Arabic script in the white band with the word Allahu to the left of the center star and the word Akbar to the right of that star. Click to Enlarge Image HISTORICAL BACKGROUND Early History: Contemporary Iraq occupies territory that historians regard as the site of the earliest civilizations of the Middle East. -
The Jewish Refugees from Arab Countries: an Examination of Legal Rights - a Case Study of the Human Rights Violations of Iraqi Jews
Fordham International Law Journal Volume 26, Issue 3 2002 Article 6 The Jewish Refugees from Arab Countries: An Examination of Legal Rights - A Case Study of the Human Rights Violations of Iraqi Jews Carole Basri∗ ∗ Copyright c 2002 by the authors. Fordham International Law Journal is produced by The Berke- ley Electronic Press (bepress). http://ir.lawnet.fordham.edu/ilj The Jewish Refugees from Arab Countries: An Examination of Legal Rights - A Case Study of the Human Rights Violations of Iraqi Jews Carole Basri Abstract Although the issues surrounding the Palestinian refugees are frequently addressed at the United Nations (”U.N.”), in the news media, and in legal journals, very little has been written about the Jews displaced from Arab lands. In light of the little known fact that approximately 50% of Israelis are Jews from Arab lands or their descendents, this Article will use Jews from Iraq as a case study in examining the history and rights of Jews from Arab countries, who were expelled or forced to seek refuge elsewhere. Part I of this Article examines the historical legal status of Jews in Iraq and the discriminatory and prosecutorial events that triggered the expulsion of Jews from Iraq. Part II demonstrates that actions taken by Iraq against Jews violated international law stan- dards and other laws applicable now and at that time. Part III addresses the question of whether Jews from Arab lands currently have any available remedies for these violations of their rights. Finally, the Article concludes that a full accounting of the rights of Jews from Arab lands must accompany any discussions aimed at providing a regional peace agreement for the Middle East, if such an agreement is to have strength and legitimacy under international law. -
Iraq Private Sector Growth and Employment Generation an Overview of the Iraqi Banking System
IRAQ PRIVATE SECTOR GROWTH AND EMPLOYMENT GENERATION March 30, 2007 AN OVERVIEW OF THE IRAQI BANKING SYSTEM This publication was produced for review by the United States Agency for International Development. It was prepared by the joint venture of The Louis Berger Group, Inc. and The Services Group, Inc. under Contract # 267-C-00-04-00435-00. AN OVERVIEW OF THE IRAQI BANKING SYSTEM Acknowledgements We wish to thank David Munro, Senior Advisor, SME Bank Lending Department, Izdihar for authoring this paper. We also acknowledge the work of Cliff Ruder, Donal Cotter, Robert Viernum and Baljit Vohra for their inputs, editing and reviews of this document. DISCLAIMER The authors views expressed in this publication do not necessarily reflect the views of the United States Agency for International Development or the United States Government. The IRAQ IZDIHAR project is funded by the United States Agency for International Development (USAID) and implemented by the joint venture partnership of: The Louis Berger Group, Inc. THE SERVICES GROUP Engineers Planners Scientists Economists International Economic Consulting TABLE OF CONTENTS INTRODUCTION ....................................................................................................................1 HISTORY AND CURRENT STATUS OF THE BANKING INDUSTRY .................................. 2 LEGAL AND REGULATORY ENVIRONMENT ..................................................................... 4 The CBI Law .............................................................................................................. -
Economic Policy and Prospects in Iraq
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Crane, Keith; Block,, William; Foote, Christopher; Gray, Simon Working Paper Economic Policy and Prospects in Iraq Public Policy Discussion Papers, No. 04-1 Provided in Cooperation with: Federal Reserve Bank of Boston Suggested Citation: Crane, Keith; Block,, William; Foote, Christopher; Gray, Simon (2004) : Economic Policy and Prospects in Iraq, Public Policy Discussion Papers, No. 04-1, Federal Reserve Bank of Boston, Boston, MA This Version is available at: http://hdl.handle.net/10419/23447 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu No. 04-1 Economic Policy and Prospects in Iraq Christopher Foote, William Block, Keith Crane, and Simon Gray Abstract: This paper describes the Coalition Provisional Authority’s attempts to stabilize and reform Iraq’s economy along market lines. -
This Report, Sansar Capital Holds an Interest in Bank of Baghdad on Behalf of an Advisory Client
May/June 2013 A Closer Look at the Iraqi Banking Sector 16 RAFFLES QUAY #40-02A HONG LEONG BUILDING SINGAPORE 048581 TEL: +65 6372 7580 http://www.sansarcapital.com To request additional information, please contact: [email protected] Sansar Capital Management, LLC, 2013, Copyright © All Rights Reserved 1 Table of Contents Executive Summary 3 Methodology 4 Iraq: A Quick Glance 5 Banking Sector Overview 6 The State Owned Banks 8 How Iraqi Banks Make Money 10 Risk Analysis: CAMEL 16 ROE: Adjusting the reported numbers 19 Capital Issuance: What comes next? 22 Valuation: The Traditional Approach 24 Laws and Regulations 26 Company Overview: North Bank (BNOR) 27 Bank of Baghdad (BBOB) 34 Iraqi Middle East Bank Investment Bank (BIME) 41 Kurdistan International Bank (BKUI) 50 Dar Es Salaam Investment Bank (BDSI) 55 Important Disclosures: 60 Sources: 62 Sansar Capital Management, LLC, 2013, Copyright © All Rights Reserved 2 Executive Summary The Iraqi banking sector is poised for significant earnings and asset growth over the next decade driven by a strong macro environment, increasing credit penetration and an improving security situation. The IMF forecasts Iraqi GDP to grow at a rate of 9.0% in 2013 on the back of 8.4% growth in 2012 placing Iraq solidly in the category of one of the fastest growing economies in the world.1 The IEA in its World Energy Outlook report stated that Iraq is expected to contribute 45% of the global incremental oil supply over this decade.2 As a result, the IEA central scenario forecast predicts Iraq GDP to grow 151% between 2011 to 2020.2 Rising credit penetration is likely to further fuel banking sector growth.