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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (116218)	5/26/2005 4:10:02 AM
From: greenspirit	Respond to of 793834

Iraq's economy has been slow to recover since the 2003 U.S. invasion amid safety concerns that have left almost 30% of the workforce unemployed. Just had to throw that comment in didn't they? Slow to recover huh? Hasn't Iraq's economy been growing something like 25% since major conflict ended?

To: LindyBill who wrote (116218)	5/26/2005 10:33:52 AM
From: michael97123	Read Replies (1) \| Respond to of 793834

Will balances on these credit cards be interest free? As i understand it moslems are not allowed to either charge interests on loans. Add this to whiskey and sexy and you might end up with a "clerical" problem.

To: LindyBill who wrote (116218)	5/26/2005 10:57:57 AM
From: kumar	Respond to of 793834

HSBC in talks to buy Iraqi bank Global banking giant HSBC is in talks to buy a majority stake in Iraqi bank Dar Es Salaam Investment bank. A private bank established in 1999, Dar Es Salaam has 14 branches in Iraq, eight of them in Baghdad, and employs 450 staff. HSBC was one of three foreign banks given permission last year to start trading in Iraq. However, high levels of violence have so far impeded the development of the banking system. Reconstruction commitment According to Reuters, HSBC is in talks about buying a 51% stake in the Iraqi company from the Khudairy family. The deal, which must be approved by the Central Bank of Iraq and by the board of Dar Es Salaam, could be completed by July. "HSBC is committed to playing its part in the reconstruction of Iraq and to investing in the country in the long-term," the company said in a statement. "In partnering with Dar Es Salaam Investment Bank, HSBC believes that it can create a leading personal and commercial banking service." Foreign banks were banned from Iraq under Saddam Hussein although a number of private banks were licensed to operate. With operations in Bahrain, Jordan, Kuwait, Lebanon, Oman and Qatar and the Palestine Authority, HSBC claims to be the largest international banking group operating in the Middle East. Story from BBC NEWS: news.bbc.co.uk Published: 2005/05/17 17:48:19 GMT © BBC MMV