Iraqi Company for Bank Guarantees

Dow Jones Newswires Interviews ICBG Chairman on $16.5M in Loans

HibaQ — 2010-02-15T10:01:46Z

Dow Jones Newswires Interviews ICBG Chairman on $16.5M in Loans A reporter for Zawya Dow Jones, Hassan Hafidh, recently interviewed the Chairman of the ICBG Board of Directors, Wadea al-Handal, who remarked that "ICBG has guaranteed 1,075 loans granted to small and medium-sized enterprises [SMEs] worth nearly $16.5 million in the last three years." A link to the full article is provided below. With the support of the USAID-funded Tijara Provincial Economic Growth Program and its (...)

Central Bank of Iraq Approves ICBG Conversion into a JSC

HibaQ — 2009-05-18T08:08:31Z

Central Bank of Iraq Approves ICBG Conversion into a JSC
May 7, 2009.
In a letter addressed to ICBG, the Central Bank of Iraq has recently approved the conversion of ICBG into a Joint Stock Company (JSC). The conversion is considered an important step toward widening the membership base and fostering the principles of transparency and accountability before shareholders and donors.
Central Bank of Iraq Directorate General of Credit& Banking Supervision
DateReference No: 9/3/1974
Attention: (...)

Central Bank of Iraq Approves Special Provisioning on ICBG Guaranteed Loans

HibaQ — 2009-05-18T07:52:24Z

Central Bank of Iraq Approves Special Provisioning on ICBG Guaranteed Loans
May 7, 2009.
The Central Bank of Iraq has taken a progressive step toward exempting the ICBG guaranteed portion of SME loans from normal provisioning requirements. ICBG has been working on this issue with CBI for some time, and CBI has favorably responded to their request for this special provisioning treatment. Please see below the CBI regulation communicated to ICBG:
Central Bank of Iraq Directorate General of (...)

ICBG Holds its Annual Assembly Meeting

HibaQ — 2009-05-18T07:43:42Z

ICBG Holds its Annual Assembly Meeting February 4, 2009.
ICBG held its first annual general assembly meeting for the year 2009. The meeting reviewed the progress made by the company in meeting its objectives. The meeting was attended by representatives of all ICBG banks, USAID/Tijara Project, and ICBG'S external auditor. The meeting reviewed the 2008 audited financial statements and expressed its satisfaction that ICBG has satisfied all conditions set by the USAID Grant Agreement. The (...)

9 ICBG Banks to Establish Specialized Small Lending Units

HibaQ — 2009-05-18T07:33:11Z

9 ICBG Banks to Establish Specialized Small Lending Units
February, 2009.
9 ICBG participant banks have agreed to establish specialized SME lending units. The USAID/Tijara project will provide training, technical assistance as well as ICT equipment and software to these institutions to assist them in this process. The objective is to enable the banks to build their operational capacities in the field of SME lending by creating specialized units and staff in each bank dedicated to serving (...)

2 New Private Sector Banks join ICBG

HibaQ — 2009-05-18T07:22:57Z

2 New Private Sector Banks join ICBG
January,2009.
Trans Iraq Bank and Al Huda Bank became ICBG members and signed the ICBG Participating Bank Agreement. The total number of ICBG members has now grown to 15.

Formal Inauguration of ICBG

HibaQ — 2009-05-18T07:06:24Z

Formal Inauguration of ICBG
November 14, 2008.
ICBG held a reception at the Elwiyah Club celebrating its move to its new offices and formal initiation of its guarantee operations. Representatives of all ICBG participant banks, other private sector banks, USAID and the USAID Tijara project as well as other SME organizations attended this event.

ICBG Participates in SME Bank Networking Forum at the Hunting Club Organized by USAID/Tijara

HibaQ — 2009-05-18T07:00:30Z

ICBG Participates in SME Bank Networking Forum at the Hunting Club Organized by USAID/Tijara
October 14, 2008.
The USAID/Tijara program organized an SME Bank Networking Forum at the Hunting Club in Baghdad. The Forum highlighted the growing importance of the SME segment and its central role in job creation as well as economic growth in Iraq. It also stressed the need to improve SME access to credit, and to bank lending in particular. The Forum was attended by representatives of (...)

Monthly Meeting of ICBG Board of Directors

HibaQ — 2009-05-18T06:54:32Z

Monthly Meeting of ICBG Board of Directors
August, 11, 2008.
A short board meeting was held in Erbil. The board members discussed several issues including steps related to conversion of ICBG into JSC, approval process for loan guarantee applications, operational capacity upgrading and business development.

ICBG Semi- Annual General Assembly Meeting is held in Erbil and Appoints a new Director General

HibaQ — 2009-05-18T06:49:09Z

ICBG Semi- Annual General Assembly Meeting is held in Erbil and Appoints a new Director General
June 7, 2008.
ICBG held the semi-annual general assembly meeting in Erbil. The meeting was attended by all shareholders. Mr. Ali Mohammed Salman was selected to be the new director general of ICBG. The participants discussed several issues which included the conversion of ICBG into a JSC and a decision was taken by the shareholders to proceed with the conversion. The shareholders discussed (...)