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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


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    Welcome to enter the Iraqi market, foreign banks

    Rocky
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    Welcome to enter the Iraqi market, foreign banks  Empty Welcome to enter the Iraqi market, foreign banks

    Post by Rocky Sun 28 Jul 2013, 7:49 am

    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.

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    Neno
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    Welcome to enter the Iraqi market, foreign banks  Empty Re: Welcome to enter the Iraqi market, foreign banks

    Post by Neno Sun 28 Jul 2013, 12:11 pm

    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. wrote:
    BASIL III will take care of the requirement for foreign banks.

      Current date/time is Wed 19 Jun 2024, 6:27 am