Standard Chartered gets the necessary approvals to open three branch in Baghdad, Erbil and Basra

by **Rocky** Fri 06 Sep 2013, 3:02 am

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Standard Chartered gets the necessary approvals to open three branch in Baghdad, Erbil and Basra

by Rocky Fri 06 Sep 2013, 3:02 am

Standard Chartered gets the necessary approvals to open three branch in Baghdad, Erbil and Basra

05/09/2013 17:15

Standard Chartered Bank announced the British Standard Chartered, Thursday, for the approval of the Central Bank of Iraq for having opened three branch in the country, noting that it would be in both Baghdad and Erbil during the last quarter of the current year 2013 and then in Basra during the 2014 next.

The Standard newspaper The Standard in a news published on its website, and seen by (range Press), "The Iraqi government approved the establishment of Standard Chartered Bank Standard Chartered British, to open a branch in the country," noting that this comes "in line with the increasing demands on financing reconstruction projects deployed in Iraq. "

The newspaper reported that "the bank, which is based in the British capital London-based, intensify most of its efforts in the Asian countries where the economic potential of the underlying," indicating that "the bank was managing its operations in Iraq through the office of his representative in Jordan since 2006."

The Standard newspaper quoted, that "the Bank's management expressed her happiness to obtain leave open branches by the Central Bank of Iraq," usually that "it helps to expand the bank's presence on Iraqi territory."

The newspaper added that "the bank is planning to open three branches in Iraq," she continued, "will be in both Baghdad and Erbil by the end of this year 2013 to be followed by a third branch in Basra during the next year, 2014."

The newspaper reported that "the Executive Director of the Bank Standard for the Middle East and North Africa, Kristus Papadpoulos, had said earlier that Iraq needs for everything from pipelines and power plants, electric and infrastructure projects, housing and all need to finance."

The newspaper The National The National UAE, issued in English, revealed in (18 August 2013), and seen by (the long-Presse), and published in a timely manner, the adoption of Standard Chartered Bank Standard Chartered to support his government to enable it to open branches in Iraq , while showed that the main objective of it is to meet the banking needs of the growing clientele in the country, particularly in the electricity sector and the oil, telecommunications and infrastructure, and a "foothold" him among U.S. banks, which began providing services there, confirmed that he is seeking to open three branches in the capital Baghdad and Erbil during the last quarter of the current year 2013 and then in Basra during the 2014 next.

The newspaper quoted the UAE, then, for one of the workers in the British bank, who asked not to be identified, as saying that the British embassy in Baghdad play an active role in helping Standard Chartered Bank to enter the Iraqi market by facilitating the course of the negotiations the list with the federal government and the Kurdistan Regional Government, " He stressed that "the bank is trying to get local customers since the first day of the opening of the branch.

The bank Citigroup Citigroup U.S. banking services, announced (24 June 2013), the opening of an office in Baghdad to become the first U.S. bank expands its services to include Iraq, betting in his step these economic opportunities, "long-term" in the oil-rich country, according to the quoted by the British newspaper Financial Times.

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