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06-15-2014, 10:01 PM
The overall focus of banking activity in which Lebanese banks (http://www.alsabaah.iq/ArticleShow.aspx?ID=72858)

16/6/2014 12: 00 am
Francois bassil: Iraq promising capital market

Lebanese banks focused its efforts to expand its activities in Iraq as the Iraqi stock market not possess him promising an attractive environment for investment, especially in the financial and business men of the Lebanese and their successful always.

Dr. Francois bassil, President of the Association of banks in Lebanon made this before modern monetary authorities and a group of business leaders representing the heads of the boards of the two banks taking advantage of the opportunity the Iraqi banking Forum organized by the Lebanese economy and business group recently in Beirut on hotel movenmbik the end of April.

Given the importance of the relationship between the Association of private banks in Iraq, the Lebanese banks Association in expanding cooperation and Development wanted felt the morning highlighting this Hadith and its importance at the current stage.

Dr. François looks forward to key goals are to expand banking services for the benefit of the two countries, said might be the size of the banks operating in Iraq is small compared to the magnitude of the market at the current stage there is openness and expansion of most of Lebanese banks in Iraq and this will lead to traditional and new customers efficiently and competitive project pointing out that the State of competition in Lebanon are the same in all countries where we are present and that more than 30 countries.

It also believed that the Lebanese banks to contribute to the development of the banking market, in three areas, development of the banking business in Iraq, including working systems and regulations and branch network covering parts of Iraq long relative to the size of the Lebanon-based area of ten thousand square kilometers.

The second area concerns the development and updating of many banking services needed by the Iraqi market, which we call and talk continues François embracing with monetary authorities, the term inclusive banking that include all types of credit and issuing letters of credit, credit cards and payment instruments, such as transfers to and from Iraq and correspondent banking services and credit, say we are already developing banking relations not only in Iraq, but between Iraq and abroad and what leads to effective participation in the development of the Iraqi economy in the various
The most promising sectors in the country's infrastructure aamarottoer.

the third area is intended to prepare the Bank sufficient qualified personnel and high see François, the success of the banking business is based in a balanced way on administration and management, on the one hand, and efficient workers, noting that the entire Iraqi bankers receive their training at the headquarters of Lebanese banks.

In closing, he stressed that Lebanon's banks did not go to Iraq to engage in foreign currency but bids for comprehensive banking service and the Iraqi economy and market order is maintained and much deeper than the fleeting and limited tenders and tentative.