View Full Version : Nozad dry stresses the importance of opening branches of foreign banks in Iraq

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01-19-2014, 05:29 PM
Nozad dry stresses the importance of opening branches of foreign banks in Iraq (http://almustaqbalnews.net/news/africa/item/30636-%D9%86%D9%88%D8%B2%D8%A7%D8%AF-%D8%A7%D9%84%D8%AC%D8%A7%D9%81-%D9%8A%D8%A4%D9%83%D8%AF-%D8%A7%D9%87%D9%85%D9%8A%D8%A9-%D9%81%D8%AA%D8%AD-%D9%81%D8%B1%D9%88%D8%B9-%D9%84%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%A7%D8%AC%D9%86%D8%A8%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82.html)

Posted in Business & money Sunday, 19 January 2014 16: 20

Future prepares North Bank for finance and investment to celebrate over a decade to set up/2004/, as described by followers of the fruitful efforts of the banking sector, and that this year will be close to his career that have achieved outstanding results.

The representative of the Iraqi private banks in the Economic Commission of the Council of Ministers, Chairman of the North Bank for finance and investment nozad David Fattah, "importance of opening branches of foreign banks in Iraq and the positive impact on domestic banking market in terms of stimulating the Iraqi banks to keep pace with developments in General and the development of its products and training staff is able to compete."

Dry, stressed the need "to meet process and made available to private banks to open branches in States that follow its branches of foreign banks operating in Iraq," the Iraqi banking competencies able to compete despite the difficult conditions prevailing in Iraq in decades".

He also spoke of the importance of the modern Ward currently legislation law protects bank deposits, and the protection of bank deposits under the legislation would spur private banks and citizens customers to feel confident in the future of the private sector and support him to be active in the local market.

Dry said that follow-up activity by stimulating private banks to achieve their goals and contribute to the economic activity without hindrance requires that there be a supportive of the steps either through legislative or other relevant government institutions in the Central Bank of Iraq, which is the institution most accommodating to the requirements of the promotion of private banks and providing attractive investment climates and in the legislation of a law protecting bank deposits and provides the necessary guarantees."

Referring to the Bank's management is trying to accommodate more growth opportunities and effective activity, according to data issued by the Bank in 2013 to profit exceeded 49 billion dinars and the high investment volume totaling 702.53 billion as well as high volume cash credit increased for the year 2012 to reach 637.489 billion dinars and that the financial position is also strengthened to 633/608/1 trillion dinars.

On a related level, sources at the Bank say that 10 years of age the Bank refers to the steady success of the Bank's management in maintaining the stable outlook of the Bank and the growth of the results achieved in all activities and continuing to provide the best banking products across all its units and branches, which helped the Bank to improve its position in the banking arena to be presented in terms of the results achieved and the positive image of the sector."

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