Bank of China - Iraq expects "strong flow" of investments from the Gulf to Iraq and pumped $ 100 mil

Bank of China - Iraq expects "strong flow" of investments from the Gulf to Iraq and pumped $ 100 million into the country


13-12-2013 | (Voice of Iraq)

Long-Presse / Baghdad
Bank announced Chinese - Iraq, on Friday, his quest for the opening of an office in the United Arab Emirates next year, while pointing to his intention to invest in the sectors large in Iraq and the release of 100 million dollars in new opportunities within the country, predicted "influx strong" investment coming from the United Arab Emirates and the Gulf Cooperation Council all to Iraq over the past five or the next ten.
A report by the Agency (Kalev News), quoting deputy director of the Chinese Bank - Iraqi Nawzad Yahya Bdger and seen it (the long-Presse), "The bank, one of the pioneers of private sector banks in Iraq is seeking to open a representative office in the United Arab Emirates with plans to install links with senior commercial banks there through the year 2014. "
He Bdger "seek to invest in sectors with significant growth in Iraq will be the use of cash, which he will present to investors by consultation with them and the type of sector in which their choice," noting that "the bank is seeking to launch a 100 million dollars to invest in new opportunities in Iraq."
Bdger explained that "the bank has 11 branches spread over various major cities in Iraq, such as Baghdad and Arbil, Sulaymaniyah and Zakho and Dohuk and Basra, Kirkuk, Mosul and Najaf, and there are plans to open 10 more branches during the ten the next two years."
For his part, adviser development banking in the Chinese bank high-Obeidi that "after a long period of wars and instability, Iraq is open now for the business through the huge opportunities in infrastructure projects, health care, oil and gas, as well as in the education sector, energy and many other things," noting that "We have the local knowledge and experience and seek to search for banks and investors to join us to invest in new opportunities."
And between al-Obeidi that "with expectations of significant benefits through business in Iraq, the bank expects a strong flow of investment coming from the United Arab Emirates and the Gulf Cooperation Council all to Iraq over the past five or the next ten."
The al-Obeidi said that "since the founding of the bank in 2008, reduce the end of 2012 we managed to bring in 20% of the returns to capital, with returns of 8% on assets and assets."
The Chinese Iraqi capital of the bank, which is based in Arbil, about 250 billion Iraqi dinars, and owned more than 100 hundred private investor, while Chinese officials see great opportunities to establish links with the UAE banks to serve as a channel for the transfer of investments to Iraq.

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So surprised at the small amounts if there was to be a currency investment but this is outside that fact, I hope... ;)