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View Full Version : the entry of foreign banks to the Iraqi market will boost the country's economy and b



BatmaninIraq
06-23-2015, 09:37 PM
Specialists: the entry of foreign banks to the Iraqi market will boost the country's economy and brings investment

06/23/2015 09:41 [/ltr]

Tomorrow Press Press / Baghdad: Iraq's transition after 2003 from a socialist economy to a market economy was an opportunity for a number of foreign banks to open branches in Iraq, where he specialists and officials said the entry of foreign banks into the country will boost Iraq's economy and will bring investment companies in which to work.

The banking system in Iraq consists of 54 banks, as well as the Central Bank and distributed by ownership between seven state banks and 23 private commercial banks, including nine Islamic banks, in addition to the 15 branches of foreign banks.

Says bank adviser "City Bank, (http://www.ecampus.com/bk_detail.asp?isbn=9780597048067&referrer=CJ)" the US in Iraq Stephen Randov for "tomorrow Press," that "the idea of ​​our entry into Iraq came after a thorough study into the Iraqi market and advanced stages where we have noticed that Iraq has become a magnet for investment in various sectors, especially in the field of oil, tourism, Construction and Housing, It was therefore necessary for us to have a foothold in Iraq and we open our branches. "

He Randov "The bank Citibank important financial companies in America, so its presence in Iraq believe will have an advanced stage (http://rover.ebay.com/rover/1/711-53200-19255-0/1?toolid=10029&campid=CAMPAIGNID&customid=CUSTOMID&catId=267&type=2&ext=311382814197&item=311382814197) in support of the Iraqi economy, full and moving of foreign currency and the presence of liquidity foreign as possible to take advantage of them in the implementation of various projects and both public and private sectors."

Step Bakdovernma foreign banks to Iraq excluded some private Iraqi banks that are aimed at supporting the Iraqi banking system or develop it for reasons unknown to her she said she put the Iraqi economy.

Says Managing Director of the Bank Union Aqeel trouble maker for "tomorrow Press," that "the foreign banks can not be the same recipe supportive of the Iraqi economy in any way being far from the reality of the Iraqi economy and away from the details of the work of the Iraqi citizens and the concerns of the Iraqi trader, so it will be located It is the glory. "

He explained that the trouble maker "of foreign banks in Iraq purpose only profit while the particular purpose of their own national banks to support the Iraqi economy and raising its standards by increasing their capital each year and give loans and adopted large and medium projects."

Finance Committee in the House of Representatives disagreed with the expectations of some private banks in the recent advent of the fact that foreign banks would be a reason to enter the global investment companies, which in turn will find a guarantor for its money.

According to the Parliamentary Finance Committee rapporteur Ahmed Hama Rasheed for "tomorrow Press," that "the country's dependence on banks balance and with a global reputation gives confidence for corporate and paid for work and investment", adding that "after Iraq out of Chapter VII note there are a lot of international companies and banks It seeks to have branches in Iraq to take advantage of the large budget of the country and find themselves being can achieve huge profits. "

Attention Rashid that "Iraq needs the support of our banking sector through the entry of high reputation in terms of competence and experience solid banks to give it impetus for investment companies to work in the country better," noting that "it will strengthen the banking sector in Iraq and gives the confidence major scientist to companies for work and investment in the country. "

For his part, the banking expert believer confirms visit for "tomorrow Press" that "the entry of these banks Iraqi investment market has great economic impact, especially as the local banks in Iraq are suffering from problems and disorders, because of the delay and inefficiency in some joints of its business," adding, "it was better during the last period that the development of its financial and reinforce their positions and contacts and beyond vulnerability and underdevelopment are experiencing. "

And it characterized the Iraqi market lack the number of citizens who have bank accounts, which allows the banks a substantial margin to attract thousands of customers, particularly that the Iraqis are looking for a complete package of services ranging from current accounts to insurance services and to mortgages, a few services in the Iraqi market.

The Governor of the Central Bank of Iraq on the Keywords, confirms for "tomorrow Press," that "the central bank has long urged and continues to urge the need for the presence of international banks being will help Iraq to work and financial communication in the region and the world, especially since these banks has a modern and sophisticated technology almost devoid of them banks Local currently operating in Iraq. "

Keywords noted that "the desire discreet banks internationally known Kalomrakih and English to work in Iraq evidence that Iraq a fertile environment for work and investment and has great economic elements."

Will-it-happen?
06-24-2015, 12:31 PM
54 Banks ?

list please