Lebanese banks seeking financial boom in Iraq and check to avoid money laundering

Lebanese banks seeking financial boom in Iraq and check to avoid money laundering

2014-05-03 (00: 01 pm)


Baghdad/range press

The Central Bank of Lebanon said that Lebanese banks entered Iraq with the aim of opening new horizons and achieving a quantum leap in local financial and economic realities, said that in addition to those banks scrutinize a lot in dealing customers for laundering funds to support terrorism.

 This came during the Iraqi-Lebanese Banking Conference in Beirut, said in a statement to the CBI, (range), a copy of it.He said the Governor of the Bank of Lebanon Riad Salameh said "Lebanese banks opened seven branches in the governorates of Baghdad, Erbil, Basrah, Najaf, Karbala, did not come to Iraq to engage in dollar tenders organized by the Central Bank through currency" auctions, "Lebanese banks came to join the labour market and develop quite full and open new banking prospects both at the level of credit or loan, because Iraq has a good clientele."He said the safety of the Lebanese Central Bank is committed to strong mechanisms follow with banks that want to open branches in Iraq, and that it is closely watching these banks and their dealings in Iraq through the committees between the duration and others "."Bank checks in transactions of customers of the banks for laundering money to support terrorism, as do banks have a branch in Iraq", pointing out that the "Lebanese banks are almost similar in their European counterparts into the Iraqi market is a qualitative leap in banking, particularly as major banks in Lebanon and the world."He was the Governor of the Central Bank of Iraq, Abdul Basit Turki Al-Hadithi, opened Friday, Iraqi-Lebanese Banking Conference, which will last for two days (25-26 April 2014) indicating that there are seven branches of banks in Iraq, with applications for opening branches of other banks, while the Central Bank of Lebanon Governor, Riad Salameh, Lebanese banks seeking to invest in Iraq and expanding open branches there.The CBI revealed, on the fourth of April, opened 15 branches of Arab or foreign banks in the country during the last three months of the current year, as a result of its policy of opening to the world, indicating that one branch to leave out an Arab Bank for violating the conditions provided for in its laws.Turkish was threatened during a financial conference held in Dubai, two months ago, withdrew five banks operating permits Iraq (unspecified) have not increased their capital.And Iraq's banking system consists of 43 banks, as well as the Central Bank and distributed by 7 governmental property, 30 private, including 7, as well as six foreign banks.

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