Association of private banks ..tsm map to see the development of the Iraqi economy

Association of private banks ..tsm map to see the development of the Iraqi economy

October 27, 2016

Mr. Ali Faisal , executive director of private banks confirmed that the banks are working in Iraq since very ancient time, but especially as banks founded in 1992 and then began increasing number of private banks since 2003 after opening , the number of private banks and increased its share market and today there are 50 Al Ahli Bank in Iraq divided to banks Ahli commercial and Islamic banks and branches of foreign banks , Lebanese and Turkish as well as seven state - owned banks are working with the private bank and the nature of the work of the private sector is the fastest by moving towards the technology , saying , "the work of private banks comes to support private and other banking facilities sector , but we aspire that there was a greater role in the next stage and direct private funding to support citizens ' projects and the development of economy in the country. Banking agreements fruitful

!! And foreign agreement recently signed between Al-Faisal "

There is a big trend and strategy of a wider part of our programs rely on local training we do we as an association of private banks and because the very big need we started we hold and cooperation agreement with other foreign institutions, including the Union of Arab Banks, as well as banking institutions Jordan and soon audited institutions also international trainers and other agreement with Aagamz Foundation grant certificates to combat money laundering and terrorist financing, and our mission is to train Coward banks at the lowest cost in Iraq and provide banking information quality, the withdrawal of Arab banks !!!

As to the Lebanese banks withdraw from Iraq revealed Ali Faisal "

That there is an intention to reduce and minimize the work of Lebanese banks by the administration and the crisis is between the Central Bank in Baghdad and the region because of deposits for banks to deposit in the Central, becoming a there is a real problem because Arab banks operating in Iraq has been affected due to lack of financial liquidity and exchange them.

Frankly Bankers Association is working to resolve this problem and the Kurdistan region Mton on this crisis, money deposited !!

The Executive Director of the private banks , " said the basis for the process of economic development of the banking sector, and that the next stage requires work to restore confidence between banks and customers to expand the deposit has. And the importance of restoring civil money deposited in banks in the Kurdistan region to customers in a move to build bridges of trust and activation of the new banking group and support the investment aspects. He pointed out the

Z that the partnership between the public and private sectors, aims to address the lack of funding and that the private sector be more effective and its economic feasibility.