The Association of private banks: capital money amounted to 250 billion dinars to each Bank and Lebanon want to open branches in Iraq

Author: ASJ, RS
Editor: RS, SHS
2014-04-26 18: 49
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The Association of private banks, revealed Saturday that the capital of banks in Iraq reached 250 billion dinars to each bank, the infrastructure of the banking sector poised for global banks, there was a "real desire" from Lebanese banks to open branches in Iraq.

He said Iraqi banks Association Chairman Adnan Chalabi told (range), on the sidelines of his participation in the Iraqi banking conference in Beirut to Lebanese held on 25-26 April, "private banks made a lot of achievements in the financial sector or economic sector ", indicating that" during the past three years has made a qualitative leap in the increase of capital and deposits, credit and remittance.

Chalabi said that "despite the successes of those banks are still suffering from a lack of technological development in banking, international banks, including banks that have branches in Iraq to" devote their efforts dramatically to reflect the technological development on the banks of the advancement of technology."

Chalabi stressed that "the infrastructure of the Iraqi banking sector is ready to receive international banks for work in Iraq in order to serve the customer", adding that "those banks that will add a real touch of the banking sector through the entry into Iraq of the Iraqi market in thin trading as a credit and lending and bank wire of various his ways."

Chalabi has revealed that "there is a real desire from a number of large banks to open new branches in Iraq because the Iraqi market is a good market and that there are investment opportunities where these banks to accelerate their dealings."

The CBI was revealed, on the fourth of April 2014, opened 15 branches of Arab or foreign banks in the country during the last three months of the year 2014, as a result of its policy of opening to the world, indicating that one branch to leave out an Arab Bank for violating the conditions provided for in its laws.

He was the Governor of the Central Bank of Iraq, Abdul-Basit Turki, had threatened a financial conference held in Dubai, two months ago, withdrew five banks operating permits Iraq (unspecified), unless they increase their capital.

And Iraq's banking system consists of 43 banks, as well as the Central Bank and distributed by seven governmental property, 30 private, including seven Islamic as well as of foreign banks.