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Bankers: the opening of branches of foreign banks in Iraq investment in the country


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Bankers: the opening of branches of foreign banks in Iraq investment in the country

Post by rocky on Thu 01 Aug 2013, 8:04 am

Bankers: the opening of branches of foreign banks in Iraq investment in the country

01-08-2013 02:22 PM

Baghdad (news) / report / .. Machhdh the country of a large movement in banking was evident among some foreign banks to begin arriving on Iraq to open branches, which he found some of the points of legislative and governmental organizations and specialists step in the right direction while it considered private banks Iraqi that it does not support the Iraqi banking system.has confirmed a number of MPs and specialists in the field of banking (of the Agency news) that the advent of foreign banks will support the national economy and push the wheel investment forward as would be a reason for companies to enter global investment and that you'll find in turn a guarantor for its money. says adviser Bank 'Citibank' U.S. in Iraq Stephen Randov: the move to our company came after an extensive study into the Iraqi market and stages developed where the lap that Iraq has become a magnet for investment in various sectors, especially in the field of oil, tourism, construction and housing so it was essential that we have a foothold in Iraq and open a branch for us and added Randov in his (the Agency news): The bank Citibank is one of the financial companies mission in America, so its presence in Iraq believe will have advanced stages in supporting the economy of Iraq and move full of foreign currency and the presence of liquidity foreign as possible benefit from the implementation of various projects and both the public and private sectors. seems to be expanded volume of banking transactions in the country after the year 2003 is an opportunity for foreign banks to enter the Iraqi arena in order to expand its work in Iraq as a market has become well-traded funds in investment projects different in the general areas of the country. step by foreign banks Bakdovernma of Iraq excluded some private Iraqi banks to be its support for the Iraqi banking system or developed for reasons she reported she did not know the development of the Iraqi economy.Managing Director of the United Bank for Investment Mohannad Qassem, said, that foreign banks can not be described as supportive of the Iraqi economy in any way being far from the reality of the Iraqi economy and far from Details of the work of the Iraqi citizen, and far from the concerns of the Iraqi trader will therefore its not feasible. Kassem said (of the Agency news): The foreign banks in Iraq purpose only profit while the national banks in particular special purpose support the Iraqi economy and raising its standards by increasing their capital in each year and give loans and adopted for projects large and medium. while the Finance Committee parliamentary disagreed with the expectations of some private banks in the advent of foreign banks that the latter would be a reason for companies to enter global investment that you'll find in turn a guarantor for its money. said a member of the Finance Committee parliamentary Hassan Ozmn (of the Agency news): The Iraqi banks, especially private ones may be on خطئ when refuse the advent of financial companies to open branches in Iraq, they even did not work V.ihm would be the benefit by giving a great opportunity for foreign banks can rest assured their money in Iraq. said Auzmn: he was rather including Before reject coming coming and the work of foreign banks was for us to wonder about the fate of the Banking Act, which is still going on between the inclusion of the House of Representatives without debate or even presented as a project, noting that the Banking Act and if enacted would have reflected positively on the market of Iraqi funds and perhaps even raise the value of the dinar and organizes the work of banks all. continued Auzmn: that the banks that came open now is the banks that everyone wishes of private banks and the public to be correspondents where they are closer to the action at home, where will create an atmosphere of real competition and evaluate the banking business with the banking business in Iraq and how progress global service. , the Iraqi government has allowed the Bank City Bank U.S. to open branches in Baghdad, while waiting Departments bank Standard Chartered, the British and the Goldman Sachs U.S. official approvals to open branches for them in southern and central Iraq and north Mpintan that foreign companies operating in particularly British and American looking for Financial Services 'more supportive' in its business there. consists of the banking system in Iraq from forty-three banks as well as the Central Bank and distributed by ownership between (7) state banks and (30) Bank of my family, including (7) Islamic banks in addition to (6 ) foreign banks. / End / 3. h. P /

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