On: Wednesday 1/8/2012 6:57
welcomed banking experts to enter the international banks of the country by opening branches fixed it, pointing out that it would pay the wheel of investment as well as the introduction of technology of modern banking.
announced that Arab banks to open branches in Baghdad and the provinces, while there are international banks other Kalawrobeh and American
Expressed willingness to open branches in Iraq during the coming period. The director of government banks in the Ministry of Finance Crescent Taan entry of international banks of the country by opening branches in a profitable business for both parties because the investment market in Iraq in need of capital-in the foreign banks as the latter aims to achieve profits.
said Taan (range): The sector banking system in Iraq is Ghaderaly keep pace with evolution in fact the investment witnessed in the economic sectors, pointing out that it is necessary to enter the banking world as it has large amounts of capital that will promote major projects as well as create competition with local banks in addition to training Iraqi personnel in place.
and called on the government to the need to legislate legal protection of these banks as well as tax exemptions.
to the counting banking expert as Abdul Hadi Central Bank Law New catalyst main entry of these banks of the country, pointing out that their presence will support expertise to a large extent through the transfer of technology advanced banking to local banks.
said Abdul Hadi’s (long): The banking system in Iraq has seen significant outage to keep pace with evolving global banking is the latest state of confusion in Iraqi banks is very large, pointing to the need to issue instructions by the central bank provides to direct banks to invest in addition to the adoption of methods of credit long-term.
For his part, said financial expert, Farouk Ramadan (range): The work of international banks in Iraq is a clear indication of the strength and durability of the Iraqi economy, explaining that he had not been affected by spring Arab.
He Ramadan: The cash reserve achieved by the Central Bank amounting to $ 60 billion has not been achieved on Iraq as well as to the seriousness of the decisions of the Central Bank increased the capital of the banks that have had a significant impact on the willingness of international banks to enter Iraq.
Meanwhile, the economic expert, Bassem Jamil Anton that the global crisis and economic recession, which witnessed some European countries during the recent period and the need of the country for construction, reconstruction and investment projects to make the banking world are racing to open branches in Iraq, noting that it seeks to take its role in funding projects and benefit from the profits realized, pointing out that it will be transferred international experience in banking to banking sector which leads to the development and promotion.
said Anton Iraq has elements of great economic is mineral-extractive existing in the ground such as oil, gas and phosphate, in addition to the investment environment fertile that are lacking most of the world, prompting the investment companies to come for the purpose of investment, bearing in mind that international banks started to open branches in Baghdad and the provinces.
He added that the world in a state of saturation for projects and service construction, there has been a worldwide economic depression, while Iraq because of war and the siege imposed on it in the nineties of the last century, led to an urgent need for infrastructure projects, service and health projects and processing power, making the eyes of corporations and international banks tend to Iraq out of the global economic crisis.
It is reported that Abu Dhabi Islamic Bank and the banks of the Lebanese and Kuwaiti announced in the last period to open branches in Baghdad and the provinces, while there are banks, other global Kalawrobeh and the U.S. expressed its readiness to open branches in Iraq during the coming period.