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Ooredoo is expanding its mobile financial services (MFS) following the launch of AsiaHawala exclusively with Asiacell, part of Ooredoo Group, in December 2015.

AsiaHawala is the first-ever mobile money service provider to launch in Iraq, licenced by the Central Bank of Iraq. The service enables Asiacell customers to make a number of Mobile Money transactions on a daily basis, including money transfer, bill payments and airtime top-up.

AsiaHawala is currently available at 1,600 locations throughout all governates of Iraq.

With the launch of AsiaHawala, Ooredoo now offers mobile financial services in four markets - Qatar, Indonesia, Tunisia and Iraq - delivering daily services to nearly five million customers.

H.E. Sheikh Saud Bin Nasser Al Thani (pictured), Group CEO, Ooredoo, said:

"Smart financial services have the potential to change people's lives, by offering access for the under-banked and providing customers with greater control over their money.

"Ooredoo is deploying a full range of innovative solutions to extend the range of mobile financial services across our footprint, and we're very proud that Asiacell has launched the first mobile money service licenced by the Central Bank of Iraq."

(Source: Ooredoo)

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Iraq is offering to mediate between Saudi Arabia and Iran to end their dispute, which began when Riyadh executed a prominent Shia cleric.

This, along with Tehran's alleged failure to protect Saudi Arabian consular buildings during protests, led to the recalling of their respective ambassadors.

A number of other Arab countries, including Qatar and Bahrain, have also cut diplomatic ties with Iran.

Al Jazeera's Paul Chaderjian reports:

Dubai-based Redtag, the value fashion and home lifestyle brand, has announced that it plans to open 20 more stores in the MENA region in 2016 including in Saudi Arabia, Oman, Egypt, Iraq, and Uzbekistan.

Out of a total of the brand’s over 170 stores across the Middle East, 101 are currently in Saudi Arabia, with a large presence in other countries including the Bahrain, Egypt, Iraq, Jordan, Kuwait, Nigeria, Oman, Qatar, Tunisia, UAE, Uzbekistan and Yemen.

The company, part of BMA International, was launched in 2006.

(Source: Al Bawaba)

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Teach The Rich: Basra's Private School Business Booming, But So Are Students' Fees

In Iraq the public education system is facing huge challenges. Often two or three schools will share one building for all their classes and pupils are taught in shifts. In the southern Iraqi province of Basra, one building has become notorious because seven schools share the rooms.

Often classes consist of about 60 pupils at a time. And if the classrooms are not crowded, then they may well be old and unsafe and lack facilities like bathrooms or air conditioning.

There are around 1,800 public schools in Basra and they occupy around 1,000 buildings in the province, Maki Mohsen Mahous, the director of Basra's provincial Department of Education told NIQASH.

Many of the buildings are actually unsuitable for teaching and, he says, “we still need to build another 700 schools to solve the problem of overcrowded classrooms”.

There are also growing doubts that the provincial government will be able to do this because of the country's financial crisis, which has seen provincial budgets diminished.

These are just some of the reasons that parents like Basra father, Salman Ahmad, are choosing to send their children to private schools. His three children now get transportation to school, the classrooms have modern equipment and they are heated and air conditioned, Ahmad says.

“All this is great,” he says. “The only problem I foresee is that the school could raise its fees at any time, without any restrictions.” Like many other parents, Ahmad is concerned that prices will rise beyond his family's means and his children's education will be interrupted.

By John Lee.

ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announces that Mansour Bank for Investment, an Iraq-based bank and its partner, Qatar National Bank (QNB) (owns 51%), has selected its global awards winning flagship ICS BANKS to replace its core banking and IT systems.

The signing ceremony took place in Beirut, Lebanon where Chairman at Mansour Bank for Investment; Mr Mahdi Mohammed Jawad Al Rahim, General Manager at Mansour Bank for Investment; Mr. Abdal-Ahad Butres Toma and a number of experts and senior staff of the bank, accompanied with Executive Director for Business Development at ICSFS; Mr. Wael Malkawi, agreed to commence this project towards a real and comprehensive transformation that will enhance Mansour Bank’s performance. With this move, Mansour Bank for Investment will join ICS BANKS family in Iraq, as most of the Iraqi and international banks in Iraq are already banking on ICS BANKS.

Mr Mahdi Mohammed Jawad Al Rahim, Chairman, Mansour Bank for Investment, commented:

“Mansour Bank for Investment place technology and the development of human resources in the first place to ensure providing the most modern banking services to customers. We are pleased to confirm our partnership with ICS Financial Systems (ICSFS), for implementing the latest and best reached banking solutions from ICS BANKS, to meet our clients' various banking needs in the Financial Market; especially the Iraqi Market, as ICS BANKS has a proven track record in Iraq.”

Mr. Abdal-Ahad Butres Toma, General Manager, Mansour Bank for Investment, said:

“Our aim is to provide different banking services in the light of the current Laws and Regulations, and to be an active contributor in supporting the growing march of building Iraq’s economy. That is why we have chosen ICS BANKS from ICS Financial Systems. With its extensive experience in the Iraq’s banking and financial sector, we are very confident that by using ICS BANKS we will increase the efficiency of our various financial operations, improve our competitive advantage in the Iraqi financial market and achieve our major goals and future plans."

Hertz Global Holdings has announced that Hertz Equipment Rental Corporation (HERC) has entered into a franchise agreement with the Khudairi Group for the exclusive license to provide rental equipment in Iraq using the "Hertz Equipment" brand and proprietary system.

This move will significantly add to HERC's existing network in the Middle East, with HERC Iraq offering one of the largest light-to-medium equipment fleets in the country, serving oil and gas, construction, industrial, and government customers through a branch network that will include locations in Erbil, Baghdad, Basra, and Sulaimani.

Larry H. Silber, President and Chief Executive Officer, HERC, said:

"This agreement reflects our long-term global-business strategy to license franchises, establish joint ventures and, where appropriate, open company-owned branches in emerging and growth markets where the equipment-rental model is poised for continuing expansion.

"We are especially pleased to partner with the Khudairi Group, which is one of Iraq's most prominent commercial organizations and brings more than one hundred years of demonstrated success to the HERC Iraq franchise."

Jay Early, International Vice President, HERC, added:

"HERC Iraq is well positioned to support the country's ongoing development, with oil-related and industrial projects, commercial construction and infrastructure work underpinning Iraq's revitalization.

"The Khudairi Group's experience working with firms engaged in engineering, procurement and construction (EPC), oilfield supply and service, and heavy machinery position HERC Iraq for immediate success.  In addition, HERC Iraq's access to a multitude of clients across all sectors throughout Iraq create a solid platform for long-term growth.

"Our success in Saudi Arabia, our recent expansion into Qatar and our franchise in Iraq reflect our confidence in the ongoing development of key markets in the Middle East.  With one of the largest and most diverse equipment line-ups in the industry, we are excited to play a role in the development of the region's important public and private projects."

President of the Khudairi Group, Subhi Khudairi (pictured), said:

"Our experience and expertise across the oilfield, construction, industrial and government sectors enables us to understand and meet customer requirements in these demanding markets.  

"We are committed to providing best-in-class equipment backed with superior service and support with a highly trained and professional team across our locations."

HERC Iraq will offer for rent a diverse range of earthmoving, power, aerial, material handling, electrical and compressed-air equipment, beginning January 2016.

(Source: Hertz)

By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Iraqi-Saudi relations are the main key to the problems and solutions of the crises in the Middle East. The rupture and hostility between the two sides helped promote the positions of extremist groups, which are active in the region and are hostile to both countries. Today and despite the long delay, Iraqi-Saudi bilateral relations are taking a positive turn, as both parties seek to consolidate and strengthen them.

After 25 years of cold relations, which reached the point of a diplomatic rupture for a long period of time, the two sides announced the appointment of new ambassadors through a high-level representation. Iraqi Ambassador Rushdi al-Ani arrived in Riyadh Sept. 20, and the Saudi ambassador is expected to arrive in Baghdad within days. Ani hails from a Sunni family from the Anbar province, and he was a former Iraqi ambassador to Pakistan, which could help facilitate his new task in Saudi Arabia.

In April, Riyadh appointed Maj. Gen. Thamer al-Sabhan, former military attache at the Saudi Embassy in Lebanon, as its ambassador to Iraq. Sabhan took the oath of his new post on June 2. Saudi Arabia also announced that it will be opening a new embassy in Baghdad and a new consulate in Erbil, the capital of Iraqi Kurdistan, after the Eid al-Adha holiday on Sept. 24. The embassy and the consulate have yet to open their doors, as of the time of this writing.

The Iraqi Ministry of Foreign Affairs announced on Jan. 5, 2014, that it had completed the necessary procedures for Saudi Arabia to open its embassy in Iraq. The new Saudi ambassador enjoyed good ties with the United States, and he was awarded medals of honor by the Pentagon for his role in Operation Desert Storm and the liberation of Kuwait.

The Saudi position coincided with a similar initiative by the emir of Qatar, to send the first ambassador of his country to Iraq, after the rupture that occurred following Iraq's invasion of Kuwait in 1990. On Sept. 10, Sheikh Tamim bin Hamad Al Thani issued a decree appointing Zayed al-Khayareen as Qatar's “ambassador extraordinary and plenipotentiary to Iraq.”

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Mid-East's New 'Cold War': Why The Russians Won't Win Against Extremists in Iraq

Since the announcement of a new military alliance including Russia, locals have been trading arguments. Could Iraq become the stage for a new “Cold War”? And how effective can this coalition really be?

Posted in Security 4 Comments