Private Banking vs. Wealth Management: What's the Difference?
Wealth management is a broader category that involves dealing with the optimization of a client's portfolio, taking into account their aversion to, or comfort with, risk, and investing financial assets according to their plans and goals. Wealth management can be practiced on a portfolio of any size, though, as the name implies, it is geared toward the well-off.
Private banking, by comparison, typically refers to an envelope solution for high-net-worth individuals (HNWIs) wherein a public or private financial institution employs staff members to offer high-net-worth clients personalized care and management of their finances
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Iraq Is The Axis And Meeting Point Of East And West
The first 03/17/2024 Baghdad: Huda Al-Azzawi Experts and specialists in financial and economic affairs called for the implementation of a new strategy based on a different, modern economic philosophy pursued by developed countries in the process of
diversifying and maximizing state revenues,
attracting foreign investments and
achieving development, by
restoring Iraq’s historical pioneering role as an axis, fulcrum and meeting point between East and West, and a vital corridor for trade. Global, experts also called for increasing intra-trade with neighboring countries as it is one of the pillars of the successful Iraqi economic strategy.
The Prime Minister’s Advisor for Financial and Economic Affairs, Dr. Mazhar Muhammad Salih, stated in an interview with “Al-Sabah” that “Iraq is the point of communication between the European continent and the Gulf and Asian markets.”
He pointed out that "before the country entered into trade restrictions more than fifty years ago, which included wars, conflicts, and a decline in infrastructure, Iraq was one of the best vital economic areas in the world that charts the international trade corridors that travel through it by land from the heart of Europe to neighboring markets and Asia by sea." Across the Gulf and vice versa.
He explained, "The Iraqi commercial corridors represent an ideal commercial attraction through which transit fees are collected, in addition to marketing technical and logistical services to trucks passing through Iraq's roads and ports."
Saleh added, "Maximizing intra-trade through (transit) trade will undoubtedly achieve continuous financial returns and provide an added business cycle that increases growth opportunities in the gross domestic product, and in linking Iraq to the global trading system as a major economic player in the region and the world."
For his part, political analyst Omar Al-Nasser pointed out, in an interview with Al-Sabah, that
“diversification of economic resources is an important philosophy that the countries of the developed world have begun to adopt, and
the experience of the European Union is the best evidence of that, especially those that suffer from weak possession of natural resources.” He stated that
“sustainable development and economic prosperity begin from the gate of
reducing spending,
maximizing revenues, and
multiplying sources of income,” and explained that
“with a realistic look at the state of development, intra-Arab trade rates are still relatively modest and reach only 13.8%, and
they still need more efforts to overcome Unfavorable procedures and effects of customs measures and standards that account for more than 50% of Arab trade exchange, other than the Asian partner, which constitutes 54% of Arab countries’ exports.”
Al-Nasser stressed that "Iraq must have new ways in this field, and think tanks and research must be sought and their role in providing advice and giving a high dose of support must be sought by drawing up model policies that support this joint with regional neighboring countries at the very least, in order to
strengthen Investments,
creating job opportunities, and
raising trade cooperation and international relations to high levels.”
He added, "Iraq's invitation and adoption of a regional conference to stimulate intra-trade and remove the obstacles standing in the way of this joint will increase its standing among the countries of the region and create a real desire to establish clear-cut economic partnerships that will remove the spark of political differences and transform the Middle East region into a real international center of attraction and a mine for energy production." humanity, economy, and the kiss of the entire world.”
He explained that "Iraq's move to sponsor research, which has a major role in developing different strategies in the field of economic growth and prosperity, will contribute to
raising the profile of sustainable development,
strengthening international relations, and
raising the level of opportunities for cooperation and trade exchange between the countries of the region." https://alsabaah.iq/93584-.html
..So, what else is in the news of importance to our investment?
A member of the House of Representatives, Mohammed Al-Sayhoud, revealed on Thursday a government move to lift the US sanctions imposed on Iraqi banks, while stressing that the work of the Iraqi committees is continuing with the file of removing the US combat forces from the country. Why is this important news?
I find it quirky how they tie these two issues into one article (lifting sanction on the banks with the removing of US combat forces). Are they trying to tell us something? Could it be that Iraq is pressuring the U.S. to relieve these sanctions
and in return let them have a longer military combat presence in Iraq? Sounds like it to me. It’s about time Iraq did some real negotiating for their own benefit. Will they, can they, also negotiate the release of the reinstatement of the dinar as part of a deal to allow the combat troops to stay in Iraq a bit longer?
We know that Ali Alaq is not letting the proverbial “cat out of the bag” when he talks to the Finance Committee either. The CBI must be careful about speculators in the dinar, and he has told us this too already many times.
Remember that the sanctions put on the Iraqi banks, by the CBI, at the request of the US Treasury only prohibit the sale of the dollar by these banks. They can still do business with the dinar and other foreign currencies and are making money anyhow. However, through the sanctions the CBI and Treasury are trying to reverse the reliance of the banks to make money solely off the point spread of the buying the dollar beyond the CBI official rates. Get it? We read many articles on this already too. They must convert/reverse the bank revenues to other sources to get out of the currency auction business and into real banking practices, like all other banks in the world.
So, to comply and take these sanctions off these banks they will have to comply and deal in dollars ONLY at the official rate. They will also have to prove to the CBI that they are engaging in other forms to generate revenues to stay in business. Remember that banks are also a business and, like any other business, must also find ways to make a profit and generate revenues. This is what the CBI and the U.S. wants as part of the financial and banking reforms. They don’t want the banks to crash simply because they are stopping the currency auctions. Get it?...
"BRICS Nations, Russia, and China, have joined forces to teach the US dollar an important lesson in International Markets."
This is a year that can be characterized as a "refactoring process" for the new Quantum Financial System. New codes inside Quantum Technologies are and have been in the process of being rewritten to determine trading percentages through artificial intelligence. Russia and China have joined forces in supporting new laws to govern these changes, and China is providing the Yuan for many of these purchasing transactions on their new digital payment system.
New local currencies being utilized instead of the dollar in trade necessitates many of the new changes taking place to level the playing field among countries who will now have new price pressures on their National currencies to demand shifts in pricing. The new BRICS currency payment system will lessen the use of the dollar and bring forth more demand for currencies in the East. These demands will require currency rate changes.
"ABOUT THE STATEMENTS RELEASED BY GOI RELATED THE IQD" BY WALKINGSTICK, 17 MARCH
Walkingstick
There were a few statements released by the GOI officials regarding their currency. The coming value at the onset of the release was revealed. That value was disclosed at/in negotiations...
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[Iraqi bank friend Aki Update]
They had a zoom meeting. It was with the CBI, all other banks and US Treasury, IMF, everybody, they were all in this zoom meeting.
They told him a lot but the only important thing...was I was told once again, 'We need you to be back at the bank because at anytime you are going to be very busy.' Aki is just like you and I, sitting there waiting...
[Iraqi Bank Friend called #1 Update - He owns 7 banks, 2 in Jordan]
About two weeks ago we told you IOO the banks of Iraq were going to be receiving sample sheets/specimens.
They were very very precise pictures of the lower notes. It turns out #1 has them. ..They started to practice and use them but they needed more help so they requested.
You will see this request on the CBI website probably within this week where they are requesting help with the security features in the small notes that they are practicing counting, sorting and training right now ..
.The new software will be with them and the banks within this week.
[Iraqi Bank Friend called #1 Update - He owns 7 banks, 2 in Jordan]
About two weeks ago we told you IOO the banks of Iraq were going to be receiving sample sheets/specimens.
They were very very precise pictures of the lower notes. It turns out #1 has them. ..They started to practice and use them but they needed more help so they requested.
You will see this request on the CBI website probably within this week where they are requesting help with the security features in the small notes that they are practicing counting, sorting and training right now..
.The new software will be with them and the banks within this week.
