Home
Welcome to enter the Iraqi market, foreign bank
The determination of large foreign banks to enter Iraq imposes on local banks to develop itself to face the competition (European - Archive)
Alaa Yousef - Baghdad
Met with the desire of some foreign banks, most notably Citigroup and American Standard Chartered, the British open branches in Iraq after the departure of the last of the seventh item (the sanctions the UN imposed on Baghdad after the invasion of Kuwait) are widely welcomed in the economic circles of Iraq, and saw economists that foreign banks will pull rug from under the feet of the local banks because they enjoy the services of a good gain the confidence of the Iraqi citizen.
A member of the Finance Committee parliamentary MP Najiba Najib said that after the withdrawal of Iraq from Chapter VII showed foreign banks universal desire to open branches in Iraq, and began legal procedures required of them in order to engage in business in the coming period, believing in a statement to the island that this step will contribute to advancing Iraqi economy forward and the advancement of the banking sector condition.
She Najeebeh that banking laws adopted after 2003 and the presence of a suitable ground of legislation, investment and profits opens the way for foreign banks to open branches without fear, and this will encourage investment companies to come to Iraq, despite the reluctance to invest its funds.
They believed the Iraqi parliamentary Iraq in desperate need of entry of foreign banks with a high level that deal modern technology encourages individual Iraqi to deposit his money where it enjoys great confidence, and called Najeebeh the Iraqi government to amend the banking laws in order to increase the presence of foreign banks in the country, including law Central Bank and private banks (private) and government.
Najeebeh: government is required to amend banking laws to attract foreign banks (Island)
Local banks
She pointed out that the Iraqi banking sector has not kept pace with the development that is going on in the world, and that the presence of foreign banks will pay the Iraqi banks to promote the betterment and emulate them, but will not reach the degree of its rival.
On the other hand, said President of the Federation of private banks Manaf Badri in his speech that the opening of foreign banks in Iraq, health condition and that it will contribute to the support of the Iraqi economy and create competition with Iraqi banks, pointing to the existence of a successful experiment is in the presence of Lebanese banks and Turkish in Iraq, noting that Iraq need to give economic incubators reassuring message to the foreign investor.
He Badri said in a statement to the island that the presence of foreign banks in Iraq experience worthy of study and must be dealt with in a good way, and he works in the country is currently 34 Iraqi banks and 13 foreign banks, and added that competition exists between Iraqi banks and foreign, but I feel بغبن great when requested including increased capital per year to 250 billion Iraqi dinars (214 million dollars), while foreign banks are not required to do so.
He pointed out that the Iraqi state moving toward a free economy and must support the Iraqi banks through its dealings with them in the process of paying staff salaries and bills relating to the citizen, such as water and electricity, because it will increase the liquidity and cash trading procedure.
Cross-fertilization of expertise
The president of the Union of Entrepreneurs of the Iraqi unwilling satisfaction Blibl that this step is good in support of the Iraqi banking sector, "which is cut off from the world for 23 years because of the seventh item," and said that the advent of these banks to Iraq will lead to the transfer of modern technology and good management, and contribute to the cross-pollination experiences between them and the local banks.
Blibl: the arrival of foreign banks will bring modern technology to Iraq (Al-Jazeera)
The Blibl stressed that foreign banks discreet support of the Iraqi economy, because they will have the confidence of the Iraqi citizen, but required local banks to develop themselves through training courses abroad and the capital increase and keep up with growth and development because foreign banks will pull the rug from under her feet.
He explained that the union demanded a long time ago the need for the presence of foreign banks in Iraq, delegations were sent to the French banks in an effort to open branches in Iraq, and to support the financial capacity and liquidity if merged with Iraqi banks.
The businessman pointed out that the Iraqi banking sector handcuffed Iraqi legal restrictions and especially from the presence of the central bank, which does not allow for banks that have good balances invested in economic activity by contributing to the production companies and industrial and agricultural products.
[You must be registered and logged in to see this link.]
The determination of large foreign banks to enter Iraq imposes on local banks to develop itself to face the competition (European - Archive)
Alaa Yousef - Baghdad
Met with the desire of some foreign banks, most notably Citigroup and American Standard Chartered, the British open branches in Iraq after the departure of the last of the seventh item (the sanctions the UN imposed on Baghdad after the invasion of Kuwait) are widely welcomed in the economic circles of Iraq, and saw economists that foreign banks will pull rug from under the feet of the local banks because they enjoy the services of a good gain the confidence of the Iraqi citizen.
A member of the Finance Committee parliamentary MP Najiba Najib said that after the withdrawal of Iraq from Chapter VII showed foreign banks universal desire to open branches in Iraq, and began legal procedures required of them in order to engage in business in the coming period, believing in a statement to the island that this step will contribute to advancing Iraqi economy forward and the advancement of the banking sector condition.
She Najeebeh that banking laws adopted after 2003 and the presence of a suitable ground of legislation, investment and profits opens the way for foreign banks to open branches without fear, and this will encourage investment companies to come to Iraq, despite the reluctance to invest its funds.
They believed the Iraqi parliamentary Iraq in desperate need of entry of foreign banks with a high level that deal modern technology encourages individual Iraqi to deposit his money where it enjoys great confidence, and called Najeebeh the Iraqi government to amend the banking laws in order to increase the presence of foreign banks in the country, including law Central Bank and private banks (private) and government.
Najeebeh: government is required to amend banking laws to attract foreign banks (Island)
Local banks
She pointed out that the Iraqi banking sector has not kept pace with the development that is going on in the world, and that the presence of foreign banks will pay the Iraqi banks to promote the betterment and emulate them, but will not reach the degree of its rival.
On the other hand, said President of the Federation of private banks Manaf Badri in his speech that the opening of foreign banks in Iraq, health condition and that it will contribute to the support of the Iraqi economy and create competition with Iraqi banks, pointing to the existence of a successful experiment is in the presence of Lebanese banks and Turkish in Iraq, noting that Iraq need to give economic incubators reassuring message to the foreign investor.
He Badri said in a statement to the island that the presence of foreign banks in Iraq experience worthy of study and must be dealt with in a good way, and he works in the country is currently 34 Iraqi banks and 13 foreign banks, and added that competition exists between Iraqi banks and foreign, but I feel بغبن great when requested including increased capital per year to 250 billion Iraqi dinars (214 million dollars), while foreign banks are not required to do so.
He pointed out that the Iraqi state moving toward a free economy and must support the Iraqi banks through its dealings with them in the process of paying staff salaries and bills relating to the citizen, such as water and electricity, because it will increase the liquidity and cash trading procedure.
Cross-fertilization of expertise
The president of the Union of Entrepreneurs of the Iraqi unwilling satisfaction Blibl that this step is good in support of the Iraqi banking sector, "which is cut off from the world for 23 years because of the seventh item," and said that the advent of these banks to Iraq will lead to the transfer of modern technology and good management, and contribute to the cross-pollination experiences between them and the local banks.
Blibl: the arrival of foreign banks will bring modern technology to Iraq (Al-Jazeera)
The Blibl stressed that foreign banks discreet support of the Iraqi economy, because they will have the confidence of the Iraqi citizen, but required local banks to develop themselves through training courses abroad and the capital increase and keep up with growth and development because foreign banks will pull the rug from under her feet.
He explained that the union demanded a long time ago the need for the presence of foreign banks in Iraq, delegations were sent to the French banks in an effort to open branches in Iraq, and to support the financial capacity and liquidity if merged with Iraqi banks.
The businessman pointed out that the Iraqi banking sector handcuffed Iraqi legal restrictions and especially from the presence of the central bank, which does not allow for banks that have good balances invested in economic activity by contributing to the production companies and industrial and agricultural products.
[You must be registered and logged in to see this link.]
» utube 5/4/24 MM&C Iraq Dinar- IQD Update - No Float of Exchange Rate - Budget -2024 - Schedules -
» “Services” asks the Central Bank about billions of foreign banks in Iraq
» Central Bank: Iraqi banks still face challenges in complying with international laws and standards
» Parliamentary bloc: The Central Bank offers hard currency to “mafias” on a golden platter.. The Suda
» The Iraqi Central Auction witnesses a rise in foreign remittances to $267 million
» Wednesday.. The session to elect the President of the Iraqi Parliament is heading towards “Al-Issawi
» The Union of Arab Banks proposes 4 “important” points for Iraqi banks to meet compliance standards
» In the document... the Central Bank decides to return the “Al-Mal” Bank to work... in this case
» The Iraqi-American agreements and cooperation were the most prominent topics of Al-Araji and Romanow
» Al-Hakim meets a joint delegation of resolve and sovereignty and renews the call to hold a session t
» Nearly one billion dinars were recovered and 3 million liters of fuel intended for smuggling in Iraq
» Al-Sudani and the European Union ambassador discuss issues of economic partnerships, civil aviation,
» More than 950 million dinars... petroleum products announced their recovery
» Forming a committee to follow up on stopping the sale of the dollar to travelers
» The Minister of Justice visits Al-Muthanna Governorate to discuss mechanisms for developing judicial
» Agriculture: Farmers who were affected by the recent rains will be compensated
» Al-Rasheed issues a warning regarding applying for advances and loans
» Al-Rafidain announces the implementation of the comprehensive banking system in its main branch
» Al-Rasheed warns of offices and pages claiming to promote the Salaf
» Adviser to the Prime Minister: There are no conflicts in the route of the Baghdad Metro
» Al-Sudani: We are keen to develop the work of the TBI Bank and address the problems it faces
» Agriculture explains the mechanism of implementing the calendar program and its economic gains
» “The shocks have changed.” The Governor of the Central Bank explains the impact of the openness of I
» The President of the Association of Private Banks sends an “important” invitation to the Central Ban
» Al-Alaq: The Iraqi banking sector has witnessed significant qualitative developments in response to
» On behalf of Al-Sudani, the Minister of Planning sponsors the signing ceremony of a memorandum of un
» The Iraqi Travel Companies Association participates in the Arab Travel Market Exhibition
» The start of the work of the Iraqi-Jordanian Economic Forum
» Integrity Commission at the Arab Anti-Corruption Convention Conference
» Election of the Speaker of Parliament between amendment and disruption
» Plans to increase the real estate bank's capital
» The Central Bank sells more than $276 million in the currency auction
» Advisor to the Prime Minister: We are heading towards a complete transformation of the electronic pa
» Savings and financial inclusion
» Agriculture expects to market 6 million tons of wheat
» Al-Sudani chairs the first meeting of the Supreme Committee for Restructuring the Government Apparat
» Al-Sudani receives an official invitation to participate in the United Nations Climate Change Confer
» "Baghdad Today" in the southern refineries: The Azmara unit will reduce imported gasoline and hard c
» Al-Sudani stresses the importance of supporting the pillars of food security
» Kurdistan is an important oasis for investment. Security and economic stability eliminates the housi
» Politician: Comparing Al-Halbousi to Al-Maliki is not up for discussion
» The Kurdistan Democratic Party demands international supervision of the region's elections
» Al-Sudani heads to Italy next week on an official visit
» Warnings of challenges delaying budget approval, most notably the deficit
» The Ministry of Oil sets the launch date for the fifth and sixth licensing rounds
» Rafidain Bank announces the implementation of the comprehensive banking system in its main branch
» Central Bank Governor: The banking sector is witnessing major qualitative developments
» Economic: Neighboring countries do not import from Iraq for fear of fraud
» The Central Bank of Iraq sells more than $276 million in currency auction
» Agreement on the presidency of Parliament: Did Al-Halbousi win?
» Because of his corruption... Al-Karawi calls for Al-Halbousi to be held accountable
» Al-Shammari: The American presence in Iraq has no legal cover
» A story titled: Al-Fartusi, the Iraqi ports, and the 160 Committee
» The Minister of Finance of the Kurdistan Region expects the date of Baghdad’s sending of salaries fo
» What is the importance of conducting a pilot population census in Iraq?
» The start of the meetings of the sixth session of the joint Iraqi-Iranian committee in Tehran
» The budget schedules did not reach the Council of Ministers
» The Minister of Planning directs the installation and operation of gold screening units at Iraqi air
» Government advisor: Collections will shift almost completely to electronic payment in the middle of
» A politician accuses the American embassy of attracting parties inside Iraq to confuse the situation
» Deputy: The anti-prostitution law blocks the way for destructive ideas
» State of Law: A political agreement to resolve the position of Speaker of Parliament...these are its
» Kurdistan Parliament elections.. The insistence of the two parties intensifies and an international
» Jordan considers Iraq one of its "most important" main partners in the investment field
» Advisor to the Prime Minister: Iraq is a fertile environment for projects, and there is an expansion
» Parliament is close to approving the renewable energy project law
» The delay surrounds five Iraqi ministries.. What is the relationship with the budget?
» Basra Council threatens: We will not accept unreliable companies to work in Qurna service projects
» Iraq intends to convert collections to electronic payment in mid-2024
» Parliamentary Committee: 5 ministries whose completion rates are “low”
» Completion of the five-year national development plan 2024-2028
» Investment opportunities in the ancient city of Ur
» Today.. Baghdad hosts leading scientists and researchers in the field of artificial intelligence
» Conditions and horrors
» Democratic conditions threaten Kurdistan elections and embarrass the Commission
» “Consensus” disrupts laws in parliamentary culture
» Iraq celebrates “World Press Freedom Day”
» Including Iraq... five countries possess more than 1,000 tons of gold
» Davos is between two stations, is Iraq the third?
» Specialists: The food basket was a buffer to mitigate the blow of high prices
» Al-Rafidain Bank announces the implementation of the comprehensive banking system in its Hindi branc
» Learn about the proposed law replacing punishment with financial sums
» With the beginning of summer... poor services and a spiral of crises afflict the citizens of Kurdist
» A new scandal involving one of the “ten promising companies in Basra”... the Iraqi Plain strikes con
» With a package of files... Barzani to Tehran and Talabani to Washington next week
» An expert reveals the size of the "gas gap" in Iraq: Achieving sufficiency within 3 years is very di
» To reach an agreement on 10 memorandums...the start of the meetings of the sixth session of the Iraq
» The dollar is declining slightly against the Iraqi dinar in local markets
» Deputy: 4 factors hinder Iraqi development.. one of them is a 90% reduction - urgent
» Revealing the reason for its delay.. Elekti sets the date for sending the salaries of Kurdistan Regi
» The Iraqi development road project, ambitions and expected challenges
» Laws were enacted but did not find their way into implementation
» Iraq: Political withdrawals hamper the work of Parliament
» The continued fluctuation of the dollar exchange rates worries traders and citizens
» Vice: Nour Zuhair and his companions manage Iraqi ports
» The President of the Kurdistan Region visits Tehran today and meets with senior Iranian officials
» Al-Maliki confirms Iraq's openness to all countries of the world
» The World Bank is preparing to issue a human capital report in Iraq