IBC Holds Significant Consultative Meeting with the New Iraq Mission President of the International Monetary Fund
IBC held a significant consultative meeting on Thursday October 29th 2015 with the new Iraq Mission President of the International Monetary Fund Mr. Christian Jose and the accompanying IMF delegation visiting Jordan consisting of Mr. Ahmed Hijazi / Economist, Miss Christian Neer / Economist and Miss Marwa Al—Naasa / Resident Representative of IMF Mission (Iraq & Yemen) at IBC Headquarters. On IBC side.
the meeting was attended by IBC Chairman Dr. Majid Sadi, IBC vice Chairman and Secretary-General Mr. Saad Naji, IBC Vice Chairman Mr. Turkey Al-Qaissi, IBC Board members; Mr. Nazar Awchi, Mr. Usama Al-Quraishi, Mr. Mekki Al-Faiz, Mr. Muhammad Al-Sarraf and Board members; Mr. Kamil Alwan, Mr. Haleem Al-Hadithi, Mr. Atheer Al-Qadhi and Mr. Khalil Al-Bunnia’s representative Mr. Nazar Al-Samarrai.
At the beginning of the meeting, Dr. Sadi welcomed the IMF Iraq Mission President and the accompanying delegation and reviewed the economic situation, investment environment in Iraq and the major challenges encountering the Private Sector.
He also tackled issues relating to IBC efforts in supporting the Strategic Project (Crude Oil Export Pipeline) between Iraq and Jordan and the key sectors IBC companies specialize in. He further provided a brief presentation on IBC activities and its achievements in all fields.
The members further discussed the mechanisms of financing projects in Iraq and the volume of revenues realized by the Private Sector companies in the past years compared with the present year.
IBC Vice Chairman and Secretary-General Mr. Saad Naji talked about the Iraqi Government’s initiative in supporting small and medium-sized projects in Iraq in a number of Sectors including Industry, Agriculture, Housing and the Private Banking Sector for which no plans or mechanisms have yet been placed as to the method of spending the said allocations.
The members discussed the rate of exchange and the mechanisms to be followed in the currency auction of the Central Bank of Iraq.
On his part, Mr. Christian Jose talked about the Mission’s tasks and elaborated that his visit to IBC was the first visit of IMF Mission in Jordan.
He also talked about prospects of the economic growth in Iraq and discussed with the members the financial management and banking policies in Iraq, expecting the growth rate for this to be (0%) with possibility of improvement in the coming years.
At the end of the meeting, the two sides agreed on organizing consultative meetings on regular basis to familiarize themselves with the Private Sector’s view points on significant economic matters in Iraq.
Both sides exchanges thanks and appreciation on organizing this meeting.
