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Community Banking Association: strengthening Iraqi bank capital to trade an initial step for the ban

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Hkp1
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Community Banking Association: strengthening Iraqi bank capital to trade an initial step for the ban

Post by Hkp1 on Sat 19 Jan 2013, 2:02 pm

Community Banking Association: strengthening Iraqi bank capital to trade an initial step for the banking sector

Posted on: 12: 52 pm, January 19, 2013 by ipa 2

Baghdad
(IBA). Community Banking Association Director Abdul Aziz Hassoun, to
strengthen the Bank's capital to trade and develop its work for the year
2012 is an initial step towards providing the Iraqi banking sector,
saying: the Iraqi bank capital to trade can exceed us in several places
to offer advanced work and continued government support for the Bank.

Hassoun
said in a statement to the independent press agency (IBA) "all Iraqi
banks needed Government support to promote its work and capital being
suffered neglect from the previous regime and must strengthen their
capital very significantly, adding: the strengthening of the Bank's
capital would enable it to trade stronger performance in the market and
in external transactions that greatly enhances the strong financial
position of the Bank".

"Government support and strengthen bank
capital showed significant progress in the Bank's activities for the
year 2012 through many branches in Baghdad and other Iraqi provinces."

"The
increase in the Bank's capital to the US contributed to achieve success
and progress in expanding banking network of Iraqi Trade Bank,
stressing: that all Iraqi banks need the support in all its projects and
laws to achieve success for the banking sector".

And the Iraqi
Trade Bank said on the achieved advanced activity 2012 through
operational capacity has been developing the level of activity and
development in the overall banking operations and established a
qualitative leap in the level of the banking process through increase
return on profits for the year 2011 by 34% in the amount of $ 488
million.(End)



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