Company summary

CAPITAL STRUCTURE

MANAGEMENT

MAJOR SHAREHOLDERS

TRADE MARKETS

IMPORT AGENCIES

BANK DETAILS

SPECIFIC NAMES OF PRODUCTS /SERVICES

MIRA INFORM REPORT

Names of Shareholders

3decades

Report No. :	491724
Report Date :	15.02.2018

IDENTIFICATION DETAILS

Name :	INTERNATIONAL FEDERATION OF RED CROSS AND RED CRESCENT SOCIETIES

Registered Office :	Ederation Internationale Des Societes De La Croix Rouge Et Du Croissant Rouge Iraqi Red Crescent Society Al Mansour STR P.O. Box 6143 Baghdad

Country :	Iraq

Date of Incorporation :	18.03.1972

Legal Form :	State Owned Co.

Line of Business :	Subject is the world’s largest humanitarian and development network, with millions of volunteers in 190 member National Societies.

No. of Employees :	100+

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Acceptable Risk

Business dealings permissible with moderate risk of default

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Iraq

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

IRAQ - ECONOMIC OVERVIEW

Iraq's GDP growth slowed to 1.1% in 2017, a marked decline compared to the previous two years as domestic consumption and investment fell because of civil violence and a sluggish oil market. The Iraqi Government received its third tranche of funding from its 2016 Stand-By Arrangement (SBA) with the IMF in August 2017, which is intended to stabilize its finances by encouraging improved fiscal management, needed economic reform, and expenditure reduction. Additionally, in late 2017 Iraq received more than $1.4 billion in financing from international lenders, part of which was generated by issuing a $1 billion bond for reconstruction and rehabilitation in areas liberated from ISIL. Investment and key sector diversification are crucial components to Iraq’s long-term economic development and require a strengthened business climate with enhanced legal and regulatory oversight to bolster private-sector engagement. Sustained improvements in the overall standard of living depend heavily on global oil prices, the central government passage of major policy reforms, a stable security environment post-ISIS, and the resolution of civil discord with the Kurdish Regional Government (KRG).

Iraq's largely state-run economy is dominated by the oil sector, which provides roughly 90% of government revenue and 80% of foreign exchange earnings, and is a major determinant of the economy's fortunes. Iraq's contracts with major oil companies have the potential to further expand oil exports and revenues, but Iraq will need to make significant upgrades to its oil processing, pipeline, and export infrastructure to enable these deals to reach their economic potential.

In 2017, Iraqi oil exports from northern fields were disrupted following a KRG referendum, which resulted in the Iraqi Government attempting to reassert federal control over disputed oil fields and energy infrastructure in Kirkuk. The Iraqi government and the KRG dispute the role of federal and regional authorities in the development and export of natural resources. In 2007, the KRG passed an oil law to develop IKR oil and gas reserves independent of the federal government. The KRG has signed about 50 contracts with foreign energy companies to develop its reserves, some of which lie in territories taken by Baghdad in October 2017. The KRG is able to unilaterally export oil from the fields it retains control of through its own pipeline to Turkey, which Baghdad claims is illegal. In the absence of a national hydrocarbons law, the two sides have entered into five provisional oil- and revenue-sharing deals since 2009, all of which collapsed.

Iraq is making slow progress enacting laws and developing the institutions needed to implement economic policy, and political reforms are still needed to assuage investors' concerns regarding the uncertain business climate. The Government of Iraq is eager to attract additional foreign direct investment, but it faces a number of obstacles, including a tenuous political system and concerns about security and societal stability. Rampant corruption, outdated infrastructure, insufficient essential services, skilled labor shortages, and antiquated commercial laws stifle investment and continue to constrain growth of private, nonoil sectors. Under the Iraqi constitution, some competencies relevant to the overall investment climate are either shared by the federal government and the regions or are devolved entirely to local governments. Investment in the IKR operates within the framework of the Kurdistan Region Investment Law (Law 4 of 2006) and the Kurdistan Board of Investment, which is designed to provide incentives to help economic development in areas under the authority of the KRG.

Inflation has remained under control since 2006. However, Iraqi leaders remain hard-pressed to translate macroeconomic gains into an improved standard of living for the Iraqi populace. Unemployment remains a problem throughout the country despite a bloated public sector. Encouraging private enterprise through deregulation would make it easier for Iraqi citizens and foreign investors to start new businesses. Rooting out corruption and implementing reforms - such as restructuring banks and developing the private sector - would be important steps in this direction.

Source : CIA

Company Name (legal name)	INTERNATIONAL FEDERATION OF RED CROSS AND RED CRESCENT SOCIETIES
Business Address	EDERATION INTERNATIONALE DES SOCIETES DE LA CROIX ROUGE ET DU CROISSANT ROUGE IRAQI RED CRESCENT SOCIETY AL MANSOUR STR P.O. BOX 6143 BAGHDAD, Iraq
Tel No	+964 770 462 1141 +964 790 1566	Fax No	+964
E-mail	relations.dept@ircs.org.iq	Website	http://www.ircs.org.iq

Location :

Owned

Rented

Leased

Area

Sq. ft.

Factory Address
Tel No		Fax No

Location :

Owned

Rented

Leased

Area

Sq. ft.

Type (M, I, T, E, S)	Service Provider		Industry		Government Organization
Date of Incorporation	18/03/1972		Authorized Capital (local)			Not Discloswd
Chairman’s name	Dr Yaseen AHMED ABBASS			Sex		Male
Legal Form (General)	Public Listed Co Joint-stock company Foreign Co State-owned Co Sole Proprietorships Partnership Limited Liability Company others (please specify) ___ ___
Legal Form (Specific)	CO LLC LTD others (please specify)
Registered No. (License Number)	Not Required	Chamber of Commerce
Issuing Authority	Ministry of Trade Baghdad - Chamber of Commerce Erbil - Chamber of Commerce and Industry Others

No. of Group Employees :	In Office :		In Factory :
	In Branch :		Total :	+100

Main Products & Services

The International Federation of Red Cross and Red Crescent Societies (IFRC) is the world’s largest humanitarian and development network, with millions of volunteers in 190 member National Societies.

Activities also include:

Disaster preparedness

Resilience building

Health and emergency medical services

Psychosocial support

Activity (M, I, E, T, S)	Detailed Products
Service Provider	Government Organization

Note: (M) Manufacture; (T) Trader; (I) Importer; (E) Exporter; (S) Service

Not Disclosed

First name	Dr Yaseen	Last Name	AHMED ABBASS	Age
Nationality	Iraqi	Job Description	President	Sex	Male
Department		Email address

First name	Dr Mohammad	Last Name	Quly HUSSAIN	Age
Nationality	Iraqi	Job Description	Vice President	Sex	Male
Department		Email address

First name	Dr Zaid Abdulkareem	Last Name	ABDULATEEF	Age
Nationality	Iraqi	Job Description	Vice President	Sex	Male
Department		Email address

First name	Dr Ali Dawod	Last Name	SALMAN	Age
Nationality	Iraqi	Job Description	Vice President	Sex	Male
Department		Email address

First name	Mr Mohamad	Last Name	A.M HUSSEIN	Age
Nationality	Iraqi	Job Description	Secretary General	Sex	Male
Department		Email address

First name	Mr Ahmed Kadhim	Last Name	OWAID	Age
Nationality	Iraqi	Job Description	Director of Operation Management	Sex	Male
Department		Email address

First name	Mr Mohammed	Last Name	Makttoof NAEEMAH	Age
Nationality	Iraqi	Job Description	Director of Technical Affairs	Sex	Male
Department		Email address

First name	Mr Salam	Last Name	Ahmed ABBAS	Age
Nationality	Iraqi	Job Description	Acting Head of Finance Department	Sex	Male
Department		Email address

First name	Mr Sadiq	Last Name	N. MOHAMMED	Age
Nationality	Iraqi	Job Description	Head of OD Department	Sex	Male
Department		Email address

First name	Mr Husam	Last Name	Sabri ABED	Age
Nationality	Iraqi	Job Description	Head of International Relations Department	Sex	Male
Department		Email address

First name	Mr Ahmed Zayer	Last Name	Jasem AL-SAIDI	Age
Nationality	Iraqi	Job Description	Head of administration department	Sex	Male
Department		Email address

Governing Board Members:

Dr Jabbar HAMMAD MNAJID AL-MUHAMADI

Mr Mohammed Abdualdaem Hammood AL-ALWASH

Dr Tara BARQEE RASHEED

Mr Mohammed A. ABDULHUSSAIN

Mr Mohammed ESSMAT-IBRAHIM

Mr Razaq Hussein Abd AL-DAWOD

Mr Hayder Kareem MOUSA

Mr Saad Saber Abbas AL-RUBAYE

No. of Shares

Amount of shares

% of Shares

The Government Of Iraq

100%

	Percentage	Countries
Exports
Imports

Detailed Data

If the Subject Business Entity is importing products / materials from overseas, they probably are the exclusive import agent for that product.

If “Yes” then please make note of the brand names and countries for which they are the local agent.

Type of Office :

Commercial Office Bldg

Semi-commercial office Bldg

Retail shop

Industrial Park

Business Center

Home Office

Residential Bldg

Bank Name :	National Bank of Iraq
Bank Address :	Baghdad, Iraq
Bank Account No:

Bank Name :	Trade Bank of Iraq
Bank Address :	Baghdad, Iraq

ADDITIONAL INFORMATION

Name/Title:

The subject refused us

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.13
UK Pound	1	INR 89.17
Euro	1	INR 79.39
IQD	1	INR 0.054

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRI

Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.