Conference Lebanese banker - Iraqi emphasizes cooperation and investments

Conference Lebanese banker - Iraqi emphasizes cooperation and investments

04/29/2014






Said the governor of Central Bank of Lebanon Riad Salameh that "the situation in Lebanon is stable cash", declaring that "the Lebanese pound will remain stable in spite of all the rumors that accompanied discussions on a series of ranks and salaries."He said at the opening of the conference of the Iraqi banking - Lebanese with Iraqi Central Bank Governor Abdul Basit Turki Saeed, that "the process of the latest version of the Aoropondz at $ 1.8 billion dollars done by the Ministry of Finance by the Lebanese state, confirmed that the interest rates applicable and realistic and reflect the balances in the market ". He stressed that the Central Bank of Lebanon "will remain present in the market for liquidity management, in the context of our aspiration to the availability of financing for private and public benefits of the current," stressing "not to allow the evolution of liquidity that threatens the stability of prices."In the field of banking cooperation between Lebanon and Iraq, hoping that safety "is expanding through the establishment of banks and branches according to accepted standards of the monetary authorities, so deal with it properly serves the economy and the banking sector in the two countries."

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On the other hand stressed happy "full readiness in order to be completely secure investment opportunities and extensive work in the field of private banking, note that more than 80 percent of the deal is in Iraq with the government banks." View and Chief Executive Officer, "Economy and Business Group," which organizes the conference Raouf Abou Zaki history of banking and economic relations between Lebanon and Iraq, pointing to "the existence of seven banks operating in the market and the other four are ready to enter it."

The President of the Association of private banks in Iraq, Adnan Chalabi for development plans, saying that the number of banks operating in Iraq "is not consistent with the population, as per 45 thousand people one bank, while the density of banking standard is one bank for every ten thousand people." He pointed out that "the number of banks currently has 54, including 7-governmental organizations and 47 private (joint stock companies), distributed 23 commercial banks locally and 12 Islamic banks and 12 foreign, with the number of branches of private banks to 515, including four outside Iraq."

He announced that the government banks "runs in 90.6 percent of the assets of the banking sector, while the share of private banks 9.4 percent, which is a factor in their activities and limit its work to a limited extent." So he saw the need to "work to modify some of the legislation and regulations and the activation of joint work between banks, public and private sectors and the creation of mutual funds to finance development projects."

The President of the Association of Banks in Lebanon, Francois Bassil aspiration of the Lebanese banking sector to two complementary first is to "serve our traditional and new efficient and competitive legitimate, and we used to compete in Lebanon, and in all countries where we operate and the more than today in 30 countries." The second objective is "to contribute to the development of the banking market in Iraq."

Basil did not overlook programs "prepare qualified cadres in the form of banking and high enough, as it is based the success of the banking business in the form of balanced management, organization and efficiency of the staff and their performance." He noted in this regard that the "entire groups of employees bankers Iraqis are pursuing courses in the main headquarters of our banks and in our branches." He pointed out that departments of our banks, "attest to the extreme seriousness and keen to collect more experiences and techniques."

The Governor of the Central Bank of Iraq, "careful to move quickly to what works by the banking system in the world, so we will work at the end of this year and in the first half of 2015, because the infrastructure of the banking system in Iraq ready to receive all the modern services and advanced applications in recent Banking in the world. "

He stressed that the safety of "improving the relationship between banks and their customers is the basis of stability Altzlafa, so he decided to Central Bank of Lebanon and the establishment of a consumer protection unit at the facility of the Oversight Committee, based on its work to the decision of the Central Council.

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