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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Experts are demanding the need to reassure foreign investors to stay in Iraq

    Rocky
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    • Post n°1

    Experts are demanding the need to reassure foreign investors to stay in Iraq Empty Experts are demanding the need to reassure foreign investors to stay in Iraq

    Post by Rocky Wed 09 Jul 2014, 7:05 am

    Experts are demanding the need to reassure foreign investors to stay in Iraq

    July 8, 2014 9:27 

    Called on MPs and economists Iraqi politicians to the need to reassure foreign investors and owners of banks to stay in Iraq, and they continue to work through accelerating the formation of the government, stressing that the security situation is the controlling element of the work of international banks in Iraq. A member of the Finance Committee Hassan Suleiman Wahab in an interview for the "long", that "the economic transformation in the country is still in its early stages and did not significantly rooted so can be relied upon and make it an important tributary of the processes of reconstruction and building the future." According to the newspaper term

    He added that "the work of foreign banks in number little does not have a large influence on the daily operations of the Iraqi economy and the well-known Bmrkzih and influenced by the government in most of his joints." Said Wahab said that "political confusion and lack of forming a new government during the first session after the last legislative elections are all messages express the internal instability of the country, which makes foreign investors in constant fear lead to their escape to the outside. "and said the" turbulent economic situation is a reflection of the reality of political bemused and bad and it seems very clear to the Iraqi situation many years ago. "

    He pointed out that "the reason the largest in the volatility of financial in general as a result of failure to approve the general budget put the main lines and detailed to the economy of a fiscal year, causing blocking a lot of investment projects with foreign capital." For his part, said economic expert, the appearance of Mohammed Saleh in an interview for the "long , "" The security situation has become a component controlling the orientation of a large number of international banks with professional competence and financial work in the Iraqi market. "and added that" the beginning of this year saw a contention large number of foreign banks and Arabic to enter the Iraqi market because of their advantages and promising all joints and financial investment and others. "

    He said a former adviser to the central bank said that "the events of Mosul left a clear imprint on the overall economic process in the country has begun to show results through a reverse migration of most banks and foreign banks that favored Erbil or Amman center of Iraq and the capital Baghdad." He said, "Despite the impact is great caused by foreign banks on the domestic market but its impact will confuse the media outside the image with investors and other banks were intent on entering Iraq. "

    He stressed that "the process of the withdrawal of some foreign banks to provinces such as Erbil and Sulaymaniyah does not necessarily mean the withdrawal of its investments in its final form it is a change of tactic because it is in the overall market one Iraqi." And pointed out that "the commercial market and financial relies primarily the basis of the information which represents an important pillar to extrapolate what happen from changes that may affect the work of the Economic and Financial banks of foreign investment. "and noted the benefit that" financial companies fast-moving as well-known for it's sensitive to any disturbance security or political sudden it maneuvered in several directions without causing financial losses grave. "

    In turn, the economic expert Maytham defect "long", that "the economic situation of the country to Aabashr okay but on the contrary in the decline of large and as a result of the deterioration of the security aspect in the space mission from the map national." And added that "the work of Almassarpf foreign depends on the strategic plans close and several term qualify them to take action commensurate with any economic development or security may happen. "He defect that" banks are considered the foundation of any economic movement so it is necessary to provide guarantees to the crisis, financial companies and banking

    To continue to invest the money in the market Ornament of the country. "And that" the withdrawal of banks Alajneph carries with it a negative impact many of the most important loss of important investment projects help build and develop the infrastructure of the country in addition to wasting job opportunities for hundreds of individuals. "And pointed out that" the Iraqi banking system suffers obsolescence of a large led to limited banking on remittances import without the introduction of savings to individuals and companies as in regional banks, including the Lebanese. "

    The news reports have confirmed on Monday that the bank "Standard Chartered", which opened two branches in Baghdad and Erbil, the transfer of its own in Iraq to Dubai. Was the bank opened branches in Iraq to take advantage of large infrastructure projects in the country, which is trying to rebuild itself after the war long years, especially in the wake of rapid economic growth in Iraq, thanks to the growth of oil production. while 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, as The newspaper "Financial Times" British.

    While the organization of the Islamic State extend its control over large areas in the western provinces, Mosul, 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 out that the business is going naturally. While 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 owns 70 percent of shares


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