IRAQI DINAR EXPERTS OPINIONS 01-11-2013

IRAQI DINAR EXPERTS OPINIONS 01-11-2013
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01-11-2013 Iraqi Dinar DG Guru: How do you analyze the 19 months oil export performance of Iraq?

01-11-2013  Iraqi Dinar Expert TD Edward: The oil export in Iraq has been satisfactory since last 19 months but the last month of September showed the lowest performance in the export of crude oil due to repair at most of the ports of Iraq. In the September, the export of oil touched its lowest level of 62.2 million barrels that 2.07 million barrels a day. Therefore the export earning was also affected in the country and could only earn 6.5 billion dollars from the export of oil.

01-11-2013 Iraqi Dinar Expert T123 Justin Steave: How Bank of Baghdad will increase its capital that we are reading in the news on a daily basis?

01-11-2013  Iraqi Dinar Expert IDD Jeff: The Bank of Baghdad announced on 27 October 2013, to issue new shares to enhance its capital to fulfill the needs of daily transactions and to finance the large investment projects in the country. The method that will be used to enhance the capital is the issuance of right shares and bonus shares with the ratio of 30% and 13% respectively to its shareholders. The estimated value of these shares is the 250 billion Iraqi dinars.

01-11-2013 IDD Expert Terrence: What about the Sumer Commercial Bank and its capital which is also in the business news?

01-11-2013  Iraqi Dinar Expert TD Edward: The Sumer Commercial Bank of Iraq is already in the race of enhancing its capital from 187.3 billion Iraqi dinars to 220 billion Iraqi dinars to finance the local projects in Iraq. The ratio that is declared for the bonus shares and right shares for its shareholders is .7% of bonus shares and 16.7% of right shares respectively. The method of enhancing capital is the same in the Bagdad Bank and the Sumer Commercial Bank.

01-11-2013 Iraqi Dinar Expert IDI Basil: What is the prime method that Union Bank of Iraq is going to apply for enhancing its capital after Sumer and Bank of Baghdad?

01-11-2013 Iraqi Dinar DG Guru: We have not the much information on the methods of Union bank for enhancement of the capital as the bank is going to hold its annual general meeting on the 31st of October to discuss this method. The expected method for enhancement of capital is right and bonus shares like Bank of Baghdad and the Sumer Commercial Bank of Iraq. In the annual general meeting, the previous performance will be discussed and the methods of enhancing capital will also be declared, so let’s wait.

01-11-2013 Iraqi Dinar Expert IDD Colin: Is there any other bank that is going to enhance its capital in 2013?

01-11-2013 Iraqi Dinar Expert T123 Justin Steave: Yes, the Credit Bank of Iraq is also going to enhance its capital by 100 billion Iraqi dinars in 2013. The existing capital of Credit Bank of Iraq is 150 billion Iraqi dinars which will be enhanced up to 250 billion Iraqi dinars by the end of 2013. For this purpose the shares of Credit Bank of Iraq will be traded from 13th October 2013. The method is the same for enhancing the capital which right shares and bonus shares.

01-11-2013 Iraqi Dinar Expert IDD Colin: How do you see the Malaysian Services Exhibition in Iraq?

01-11-2013  Iraqi Dinar Expert IDD Jeff: As far as my opinion is concerned about the exhibition of Malaysian companies in the Iraqi Kurdistan, is one of the great achievements of Iraqi services companies. This kind of exhibitions attracts the companies all over the world towards the region. This exhibition was held in Erbil, the capital city of the Kurdistan regional government by 17 Malaysian reputed services companies.

01-11-2013 Iraqi Dinar Expert IDD Colin: What was the focus of Malaysian companies in the exhibition?

01-11-2013  Iraqi Dinar Expert TD Edward: The three sectors remained under the interest of Malaysian companies in the exhibition: the building material, second one is oil and gas industry services, and third and last one was construction related services. The companies offered material testing facilities, installation of oil and gas equipment and architectural services. The cable management system remained in the headlines in the exhibition as it is the present issue in the Iraq.

01-11-2013 Iraqi Dinar DG Guru: What is the future of Ericson Company in Iraq after signing the deal with Tishknet?

01-11-2013 Iraqi Dinar Expert IDD Colin: In the communication sector, Iraq is flourishing with every passing day. The LTE TDD technology is being introduced in the country, very first time in the history. For this purpose the Tishknet, the Iraqi communication provider company has joined hands with the world famous internet provider company Ericson. This technology will be helpful for the international companies working in Iraq and Kurdistan region. The future of Ericson is so bright in the region because there is no any competitor in the region for this technology.

01-11-2013 Dinar Deals Expert: Will Ericson affect the revenue of any other telecommunication company, already working in Iraq?

01-11-2013 IDD Expert Terrence: No one can say that the Ericson technology will affect the revenue of any other telecommunication company in the region. Instead, it will help such companies to modernize their existing technologies with new Ericson technologies to boost up their revenue. Economists consider it as one of the great positive change in the communication industry.

01-11-2013 Iraqi Dinar Expert IDI Basil: Which is the most flourishing company in the communication sector in Iraq at present?

01-11-2013 Iraqi Dinar DG Guru: The Kuwait telecommunication company, Zain Group Bullis is considered to be one of the most flourishing companies of Iraq in the communication industry. According to the CEO of the company, they have invested 4.5 billion dollars in the communication industry of Iraq and earning more than one billion dollars per year and it’s a big success in this industry in the Iraq.

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