View Full Version : Warka to enter Djibouti Africa?????
03-22-2010, 11:08 AM
I came across this on Reuters!!! Warka in Africa
By Martina Fuchs
DJIBOUTI (Reuters) - Djibouti's banking sector is thriving with two more foreign banks likely to start operations within a year and the number of people with accounts set to almost double by 2011, its central bank governor said.
The financial sector in the tiny Horn of Africa nation is attracting new business as a stable country surrounded by trouble spots.
"The banking sector in Djibouti has seen an explosion. Last year eight new banks, Islamic and conventional, opened their doors and are doing well. More will arrive this year," central bank Governor Djama Haid told Reuters in an interview on Saturday.
Haid said he expected Iraq-based Warka Bank for Investment and Finance and Egypt's Shoura Bank to enter Djibouti in 2010.
Indo-Suez Bank, in existence for more than 100 years, and Commercial and Industrial Bank (BCIMR) -- operational for more than 50 years, have dominated Djibouti's banking industry.
The BCIMR, a majority French-owned bank, controls around 60 percent of the market.
"The whole sector relied on these two banks, which maintained a monopoly," said Michel Torielli, president of the Djibouti Deposit and Credit Bank (BDCD).
The BDCD, part of the Geneva-based Swiss Financial Investments group, opened its doors in 2007 and had more than 4,500 customers in 2009.
03-22-2010, 11:51 AM
Very interesting. Can't wait until I see an article they are entering the US.
03-22-2010, 12:47 PM
Don't under Estimate the Partnership between Citi Bank and Warka. Citi Bank has given Warka access to the world.
Most people do not know that Citi Bank is not your Average Bank.
The Wall St. Journal reports that Citigroup’s Global Transaction Services unit (GTS), sends more than $3 trillion around the world each day for hundreds of corporations and dozens of governments and agencies, including the Federal Reserve.
In 2005, Citigroup won the job of processing passport applications for the State Department. That contract helped open doors around the world. Today, Citigroup cites more than 80 national governments and about 60 central banks rely on GTS to manage their cash, make payments, transfer funds across borders and convert currencies.
And inside the United States, GTS handles about 90% of the Federal Reserve Bank of New York’s transaction in 190 countries and 90 currencies, accounting for approximately $23 billion of payments in 2009.
03-22-2010, 12:48 PM
Looks like it./ or just rallying for support
سرت «ليبيا» ـ اسراء خليفة Sirte «Libya» Isra Khalifa
Start on Monday the first preparatory meetings for the Arab summit of the 22 in the city of Sirte, where he will hold the permanent delegates of the Arab League meeting, which lasts two days to discuss the agenda which was approved by the Arab League, the presence of Deputy Permanent Representative of the Arab League, the representative of Iraq, Dr. Mohamed Mustafa Juma, in addition to a delegation from the Ministry of Iraqi Foreign Ministry.
It is hoped to hold the ministers of finance and economy members of the Economic and Social Council Arab meeting on Wednesday to determine the economic file that displays the Arab summit.
Complicating the Arab Foreign Ministers meeting on Thursday to approve the draft agenda for submission to the summit, which will be held on November 27, to be allocated on the 26 for the reception of kings and presidents to Sirte. (?)
The morning published in the edition of last Thursday, the most important items relating to Iraq which will be discussed during the summit, including debt write files on the Arab country and to support reconstruction and investment projects, energy and security file, and the contents of the final statement of the Sirte summit on Iraq hailed the success of the elections and continue to emphasize the Arab support with a call to neighboring countries not to intervene in the Iraqi issue, which also includes emphasis on respect for the unity and sovereignty of Iraq and the Arab and Islamic identity and strengthening the democratic political process and national reconciliation to address the security and political challenges, and the emphasis on respecting the will of all components of the Iraqi people determine their political future.
It is scheduled to hold the Iraqi delegation headed by Foreign Minister Hoshyar Zebari talks during the meetings of foreign ministers and on the fringes, two days ahead of the summit.
*** March 25-26th ~ Iraqi delegation headed by FM, Hoshyar Zebari, Meeting 2 Days before Arab Summit ...
Arab League Summit ~ March 27-28-2010 ~ Libya
03-22-2010, 02:00 PM
It would probably be safer to go to Iraq.
03-22-2010, 03:35 PM
'Arab summit, a step towards creating Arab-African integration'
The preliminary meeting of the 22nd summit of the League of Arab States (LAS), which will start from Sunday in Sirte, Central Libya, is expected to mark a significant step towards integration between Arab nations and Africa, PANA reported from here Friday.
These meeting will be held ahead of the Conference of Heads of State and Heads of Government, scheduled for 27 March.
After the last Arab summit in Doha, Qatar, which was marked by the reconciliation between Arab leaders, the Sirte summit will take place against a backdrop of in ternational situation marked by numerous challenges that confront Arab countries.
Top on the agenda of the meeting is the discussion on the traditional issues of hotbeds of tension in the region, particularly the Palestinian cause and the Arab-Israeli conflict.
Also on the agenda are the reconciliation between the movements fighting the Palestinian cause and the situation in Iraq, Somalia, Sudan (Darfur) and Yemen.
The summit will also discuss the consolidation of the unity and integration process of the Arab world.
03-22-2010, 03:48 PM
Any chance they could at least open branches in a non-Muslim country? Cmon Mr. I.
03-22-2010, 04:03 PM
Warka Bank most likely to be renamed CitiWarkaa.
03-22-2010, 04:20 PM
the Arab summit in Libya on Monday
A source from the Foreign of the most important items relating to Iraq, which will be discussed during the summit file down the debt on the Arab country and to support reconstruction and investment projects, energy and security file.
03-23-2010, 08:31 AM
keep in mind, Africa has, diamonds, middle east has oil.
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