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AMAR Foundation Strenghtens Financial Cmte

The Board of the AMAR International Charitable Foundation is to expand and strengthen its Finance Committee.

It will now be chaired by leading financial businessman and AMAR supporter, Mr Michael Boardman. The present Chairman, Mr Chris Frost is standing down, but will continue to advise AMAR in a different capacity.

Jonathan Ayres, the Chief Financial Officer of United Trust Bank, who has been a member of the committee for the last five years, will also stand down.

Mr Boardman will be joined on the committee by Mr Hadi Damirji, Mr Gavin Wishart, and Mr Siddik Bakir.

AMAR Chairman, Baroness Nicholson of Winterbourne; Board President, Professor Theodore Zeldin; and Board Vice-Chairman, Damon Parker, will continue in their roles on the committee.

Mr Boardman has more than 25 years’ experience of capital markets, financial management and reporting, valuation and business analysis. For 18 years he worked at Nomura Securities, the global investment banking and investment management company.

As a Managing Director responsible for Emerging Markets and a senior member of Nomura’s Global Finance team in Europe, he advised, structured and executed capital markets transactions and was personally responsible for raising over US$30 billion, in public and private markets.

For the last seven years, he has been Group CFO of Sindicatum Sustainable Resources, a high growth developer, owner and operator of renewable energy projects in the emerging markets of Asia.

Mr Boardman has been a regular speaker at industry events organised by the London Stock Exchange, Micex, Borsa Italiana and Euromoney and has published several articles about listings and public markets.

Mr Wishart, who is also a Board member of AMAR’s sister organisation, the Iraq Britain Business Council, worked at senior level in banking across Asia, the Middle East, Africa and UK during a career spanning 37 years.

Most recently he was Regional Head, Financial Institutions, Europe and Americas at the National Bank of Abu Dhabi, and before that was Chief Executive Officer, leading Baghdad, for Standard Chartered Bank.

Mr Damirji founded Optitune Plc in 2001,and is an Executive Board Member of the Massachusetts Institute of Technology’s Sloan School of Management. He was the Deputy Chairman of Trinity Group Ltd from 2007-2012 and CEO of Trinity Strategic Advisors from 2007 to 2008.

Mr Siddik Bakir is a Senior Oil Market Analyst at Saudi Aramco’s Strategy and Market Analysis Department in Saudi Arabia.

Previously, Siddik was based in London where he worked as a Senior Energy Analyst for the Middle East and South Asia and an Upstream Energy Consultant at IHS (IHS Markit).

Commenting on the Financial Committee changes, Baroness Nicholson said today:

“You can see from the bio data of the new members that the committee has been hugely strengthened. AMAR has always been rigorous in it financial dealings and we intend that always to be our trademark.”

“We believe we now have a fantastic committee to ensure the Board has the strongest possible financial leadership and support.”

(Source: AMAR)

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2018 Humanitarian Plans for Iraq Launched

On 6 March, the Government of Iraq as well as the United Nations and its partners launched their 2018 plans for Iraq – the Plan for Relief, Shelter and Stabilization of Displaced People, and the Humanitarian Response Plan.

With the end of large-scale military offensives in late 2017, many families have been returning and are trying to rebuild their lives and homes. As many as two million displaced Iraqis are expected to return in 2018; hence, all efforts must be made to support them in this transition.

This year, approximately, 8.7 million people, nearly half of them children, will require some form of humanitarian assistance.

The Minister of Migration and Displacement said:

“The Government’s Plan for Relief, Shelter and Stabilization of Displaced People aims at strengthening the provision of legal protection to internally displaced persons as well as supporting safe returns.

“The plan focuses on supporting returning families with one-off emergency cash assistance to provide the necessities of life, in addition to supporting some basic projects, and continuing to support displaced families with relief items and maintaining the provision of services in camps.”

Dr. Mahdi Al-Alaq, the Secretary-General of the Iraqi Council of Ministers, referred to Prime Minister Dr. Haider Al-Abadi’s directive on providing an appropriate environment for the return of displaced people through the implementation of stabilization projects in the liberated areas.

This affirmed the government’s keenness to return the displaced people voluntarily while ensuring the provision of basic services to people in the areas liberated by Iraq’s Armed Forces from ISIL terrorism.

In 2018, the Humanitarian Community, comprised of UN agencies, national and international NGOs and other partners, is requesting US$569 million through the Humanitarian Response Plan to respond to the needs of 3.4 million of the most vulnerable people in Iraq.

The provision of protection support is paramount. Without such services, families may be unable to return home, or will do so in unsustainable conditions.

Mr. Ramanathan Balakrishnan, the Acting UN Resident Coordinator and Humanitarian Coordinator for Iraq, said:

“As people return to their areas of origin with a large number of camps in Iraq becoming consolidated or decommissioned during the course of this year, many will need assistance including those who are returning as well as those who are unable to.

“Continued advocacy by the humanitarian community against involuntary or premature returns and strengthening mechanisms with the government authorities for supporting voluntary and safe returns is a key component of the 2018 humanitarian response plan.”

The Government of Iraq and the humanitarian community in Iraq will continue to coordinate humanitarian assistance to better respond to the needs and challenges faced by displaced people and returnees across the country. The humanitarian operations will be conducted in close collaboration with the Government of Iraq and the Kurdistan Regional Government.

Overviews of the Humanitarian Response Plan, in Arabic and English, can be found in our Reports Section.

(Source: UN)

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NIC Announces 157 Major Strategic Projects in Iraq

By John Lee.

Iraq’s National Investment Commission (NIC) has just announced the list of major strategic projects to be presented during the Kuwait International Conference for Iraq Reconstruction, to be held in Kuwait from 12th to 14th February.

The 157 large- and medium-sized projects span all sectors of the Iraqi economy, including oil and gas, transport, housing, agriculture and education.

The full 46-page document can be downloaded here.

(Source: NIC)