View Full Version : Chalabi: the Iraqi banks are moving to expand their participation in the development

Hue Mi
03-09-2014, 07:15 AM
Chalabi: the Iraqi banks are moving to expand their participation in the development (http://www.alsabaah.iq/ArticleShow.aspx?ID=66150)

08/03/2014 12: 00 am

Having won the confidence of global banks

Baghdad Yasser Metwally

Iraqi banks were able to get the facilities of foreign banks on the subject of documentary letters of credit and letters of guarantee reciprocal and win their confidence in dealing with investment in the country.

He attributed the private banks Association Chairman Adnan Chalabi to the banks to strengthen their banking through the application of international standards and requirements (Basel 1, 2), referring to the Central Bank's cooperation in this regard and the results enabled almozacoChalabi said.

in a speech to business leaders in Dubai Conference, organized by the Central Bank recently in coordination with the National Commission for investment high technical capabilities of Iraqi banks that provided through their participation and attendance of the meetings of Arabic and international banking organizations, regional and solid research and studies generated positive convictions in global banks, capabilities and competencies and experiences of They also provided training opportunities have increased their expertise.

promise Chalabi results as a response to some of the criticism of the banking sector, stressing the need for the laws to be supported in the process of investment and development.

and Chalabi to the banks role in supporting the Central Bank's monetary policy on achieving market stability through the maintenance of the exchange rate and control inflation rates.

In conclusion, he said that the Iraqi banking sector is moving toward playing a prominent role in investment and support investors by lending to various sectors Economic, industrial or agricultural or service or real estate or commercial called the President of the Association of private banks in Iraq to the need to maintain the international reputation gained by the banks through the clarity and confidence in the deal and follow international standards with a view to lasting success.