Union of Arab Banks will begin the 2013; Iraqi banking to enter the market

Initiated Union of Arab Banks activities planned in 2013 to enter the banking market of the Iraqi door wide, surpassing all the security risks inherent in this country in order to support the Iraqi banking sector promising, and therefore mobilize energies broad economic and available in this country and put them in the service of Arab economies.

was Union Arab banks succeeded in 2012 in supporting the Arab Banks support required. Also succeeded in arranging and opinions close relations with Arab banks will have in the near future impact of the strengthening and activating the Arab banking.

At 2013, attends Union led boss Adnan Yousef, and keep pace with continuous secretary general and Sam Fattouh for a variety of activities and promising schemes aimed at supporting the work Arab Banking, and thus support the economies of Arab countries, especially in countries that have experienced mobility popular in 2011 and 2012.

in 2012 and faced Union developments which affected the economies and Arab banks as a result of revolutions and unrest in some Arab countries, also faced consequences and impacts of these events deep exceeded scope political situation to affect economic conditions, financial and banking, not in Arab countries troubled, but included effects of all these countries without exception, although to varying degrees.

represent support provided by the Union in various ways, including direct through visits shuttle by the Secretary-General of the Federation and Sam Hassan Fattouh to banks in countries that have experienced political turmoil and security where he was briefed on the situation banking entities in these countries and their needs, either through indirect support provided by the Union of Arab Banks through anchored relations high level with decision-making centers of financial and economic in the world and promoted by memoranda of understanding with international organizations and associations banks European and American, including associations French banks, Italian and German, and European, the World Bank and the Organization for Economic Cooperation and Development.

worked as Union to activate the relations with the Arab Monetary Fund, and the International Monetary Fund and the General Council of the banks and Islamic financial institutions, and the Islamic Development Bank. managed Union in building a network communication and cooperation with regulatory bodies and international regulatory serve as the Basel and the Financial Action Task Force FATF Special directives against money laundering, etc., and also the UN Security Council, and emphasize the role of the Union to participate in the regular meetings of these regulatory bodies, legislative and out of his responsibility as the entity sponsor for the interests of Arab Banks, the care Union follow the repercussions of law compliance U.S. tax (FATCA) with all the information and monitoring reactions and look at the laws in place in this area.

also saw the year 2012, according to Secretary General of the Federation and Sam Hassan Fattouh activities important Aktd site Union on the map the Arab world, seal conferences in Istanbul, Beirut, Abu Dhabi, Egypt, Libya, Tunisia and Paris.

and the activity of the Union in 2013 Fattouh says he will be more diversified and expanded in response to the goals that we seek to achieve, and targeting our strategy in this regard, China, Malaysia and South Africa. Has embarked Union prepare a plan of action in order to launch and activate the center of mediation and arbitration, which was Union, founded in 1980, and activating our website first of its kind in the Arab region, and the development of the issue of social responsibility in the Arab banks through the center of excellence established by the Union for this purpose.

This Most of the banking sectors Arabic, as confirmed by the former President of the Union of Arab Banks Adnan Ahmed Yousif, growth rates are very good in 2012 and 2011, has grown the banking sector in Saudi Arabia (in respect of the assets) increased by 9.1 percent in 2011, and in the Sultanate of Oman by 17.6 percent, Qatar by 21.5 percent, Kuwait 8 percent, UAE by 3.5 percent, Morocco by 10.2 percent, Algeria by 9.7 percent, Mauritania by 18.9 percent, Lebanon by 9 percent, Jordan 7.8 percent, Palestine by 6 percent and Sudan by 1.2 percent . Estimates Union of Arab Banks to be banking sector assets Arab has amounted to about $ 2.6 trillion by the end of 2011, and deposits of about 1.45 trillion dollars, and loans of about $ 1.3 trillion, and its capital of about $ 285 billion.

also achieved Arab Banks further development at the international level , and enter 80 Arab banks in the top thousand bank in the world compiled by The Banker magazine issued in July 2012, has recorded consolidated budget for these banks about 1.65 trillion dollars. The list included 19 Emirati banks, 11 banks Saudis, 8 Bahraini banks, 8 banks Lebanese, 9 Kuwaiti banks, 8 banks country, 5 bank banks, 5 Omani banks, 3 Jordanian banks, 3 Moroccan banks and one Iraqi bank.