Latest news with #CIBO
Morocco World
6 days ago
- Business
- Morocco World
Chaabi International Bank Offshore Wins Citi Bank Excellence Award
Marrakech – Chaabi International Bank Offshore (CIBO), a subsidiary of the Banque Centrale Populaire (BCP) Group, has received the Straight Through Processing (STP) Excellence Award 2024 from Citi Bank. The award recognizes CIBO's performance in automated payment processing. The offshore bank achieved a 100% rate for treasury payments and 99.8% for commercial payments. According to the Banque Populaire, these figures show the operational standards CIBO maintains in managing international transactions. The prestigious recognition comes for the bank's cross-border payment processing. It also reflects the quality of procedures implemented by the BCP subsidiary. 'This distinction reaffirms CIB Offshore's commitment to providing clients and partners with smooth and secure service aligned with the most demanding international standards,' states the Banque Populaire in its announcement. The bank places operational excellence, digital innovation, and service quality at the core of its strategy, according to the communication. Founded in 2005, Chaabi International Bank supports companies established in Morocco's industrial acceleration zones and Moroccan businesses expanding internationally. The bank also serves as a primary lender and banking correspondent for various BCP Group subsidiaries operating in about twenty African countries. The award acknowledges CIBO's internal processes and the effectiveness of its information systems for managing international financial flows, as reported in the statement. This recognition is part of a broader strategic approach by the BCP Group to enhance service quality and integrate best international banking practices. Through this achievement, CIBO strengthens its position as a trusted partner for its clients and international correspondents. Read also: Two Moroccan Banks Make 2025 Forbes Global 2000 List Tags: Banque Centrale Populaire (BCP)Moroccan Banks
Yahoo
08-04-2025
- Business
- Yahoo
NC Congressman defends Trump, urges business owners to give tariffs a chance
Republican Congressman Chuck Edwards holds local town hall meeting with constituents. (Photo Credit:) Three weeks after a hostile town hall in Asheville, U.S. Rep. Chuck Edwards (NC-11) found himself before a more reserved audience of business owners in which he expressed support for President Donald Trump's tariffs. 'I do not blindly support the idea of tariffs, but I do support the theory that the president has brought to us,' Rep. Edwards told his audience Friday at UNC-Asheville. Edwards said the American people elected Trump to a second term knowing his position on imposing tariffs. 'President Trump is the master, he's an author of the art of the deal. With everything that he does, he considers it a negotiation,' Edwards explained. Edwards said in order to get bordering countries to do their part to secure the U.S. border, or foreign countries to do their part to prevent drugs or human trafficking from coming across the border, the president needed leverage. 'And if you don't have leverage, you create leverage.' Edwards recounted a recent appearance on a Canadian television station in which he was asked to explain the U.S. position on tariffs. 'I explained to them that this was an opening move…to get Canada to do some things, to help both themselves and the United States, and create a stronger and better world.' In the hour-long event streamed by WLOS, Edwards told members of the Council of Independent Business Owners (CIBO) that he believes Americans owe it to the president to give tariffs a chance. 'Someone asked me, 'Well, how long do you give it?' I can't set a hard-firm rule. I believe that we need to closely look over the president's shoulder, listen to the negotiations that are going on, and look at the results of tariffs, and then make up our minds.' On Monday, Trump threatened even steeper tariffs on China this week while denying his administration would place a 90 day pause on his tariff plan for further negotiations. That erased the one positive gain in the stock market Monday, sending the Dow Jones Industrial Average to close down another 349 points. The Wall Street Journal pegged last week's U.S. market losses at $6 trillion. JPMorgan Chase chairman Jamie Dimon and billionaire hedge fund manager Bill Ackman have also warned the Trump's tariffs could lead to an economic downturn for consumers. 'We are likely to see inflationary outcomes, not only on imported goods but on domestic prices,' Dimon said in an annual shareholder letter. A new survey released Monday by WalletHub finds that nearly half of Americans are concerned that tariffs will make their credit card debt worse. Still, Edwards said he has had success in getting the White House to provide relief on some textile tariffs. 'And if I need to go back to the president and say, I want you to rethink this, or rethink [that], then I'll certainly do that.'
