MONDAY, JULY 7, 2014 13:16 J P
Twilight News / forced the current crisis experienced by Iraq, Western banks that have established branches in the Iraqi market to tighten procedures for customer funds and the withdrawal of its senior staff amid growing security concerns.
1-673317.jpgThe station "Sky News" in the Arab news seen by "Twilight News" was the bank, "Standard Chartered", which opened two branches in Baghdad and Erbil, the transfer of its own in Iraq to Dubai.
The bank opened branches in Iraq to take advantage of large infrastructure projects in the country, which is trying to rebuild itself after long years of wars, especially in the wake of rapid economic growth, thanks to the growth of Iraq's oil production.
And the transfer of the bank, "Citigroup" representative office of Baghdad to the Jordanian capital Amman, as advised international companies process has reduced the level of cash (LNG) which keep them to a minimum, according to the newspaper "Financial Times" British.
Although the organization "Daash" extend its control over large areas of Iraq, especially the western provinces of it, but the workers in the banking industry say that banks in the city of Mosul, still working as usual, as he continues international lenders offer their services for multinational companies in Iraq, pointing to the that business is going normally.
The sources said that the organization "Daash" tightened his grip on the 450 million dollars and the gold stocks in the Iraqi Central Bank in Mosul last month, when they take control of the city, located north-west of Iraq, the banks and employees in the banking sector say they want to be prepared in case deteriorating conditions.
The other banks have withdrawn from the Iraqi market before the outbreak of the recent crisis in Iraq, such as a bank, "HSBC", as it cut its relationship with Bank of Investment Dar es Salaam, by suspending its relationship banking with Bank of Iraq, which has 70 percent of its shares.
[You must be registered and logged in to see this link.]