Opening branches of Iraqi banks abroad “firstfruits of hope” for the banking sector after years of isolation

Economists: opening branches of Iraqi banks abroad “firstfruits of hope” for the banking sector after years of isolation

29-10-2013 10:38 AM

opening branches of Iraqi banks abroad firstfruits of hope for the banking sector after years of isolation Baghdad (news) .. Report / Bushra Khalil / .. That the idea of opening Iraqi banks in Arab and foreign countries will strengthen economic and commercial interests of the country and help him to open up to the world after years of isolation from world markets. and take a number of specialists economic affairs and banking open Iraqi banks (governmental and civil) abroad, an important step promotes and supports relations Trade between Iraq and other countries, expressing hope that the possibility of a return of confidence to the Iraqi banks through these branches. said banking expert Majid picture, that the opening of Iraqi banks abroad, whether governmental or civil, step forward to support the banking sector, and to allow for the possibility of conducting commercial transactions and financial receives. added Suri (of the Agency news): The opening banks abroad will strengthen the position of the banking industry of Iraq, noting that the issue of the return of confidence in banks Iraqi big problem when exposed to pressures so great either by the political situation or the security or economic. continued : The investment in the banking sector is one of the essentials that need to be climate indoor and outdoor appropriately, adding that Iraq lacks this climate with the present. For his part, said a member of the Economic Committee MP / Kurdistan Alliance / Jassim شنكالي, that the opening of branches of state banks abroad step positive benefit to the state, indicating that it will improve the trade and financial relations with the countries of the world and achieve the integration of the Iraqi market, global market finance. added شنكالي (of the Agency news), that the basis of banking is trust, implementation, and not only open branches without implementation, noting that when the implementation Quick and facilities available Sinhal investors to Iraqi banks. between: that the Iraqi banking system is improving and that the opening of branches of banks will serve this sector and expands investment, calling on the private banks also to open branches to support and strengthen its supplier. said a member of the Economic Commission MP / National Alliance / Ibrahim stirrup , said that the banking sector must have a stretch inside and outside Iraq, noting that in the absence of banks variety there will be receding economy and construction. continued stirrup in an interview with the Agency (news): The banks are fueling investment projects, industrial and agricultural, which aims to development of the economy, calling for the need to move to restore economic activity and banking policy and monetary returns positively in economic construction. said: that these branches would trust banks of Iraq, especially after the liberation of Iraq from the constraints of Chapter VII, and he suffered from wars and economic blockade. said: that the system banking need legislation a new bank to open the way for investment, and give authority over to the Board of Directors and investment companies. noted that the Rasheed Bank revealed his desire to open branches in 10 Arab and foreign countries, pointing out that the budget of the bank amounted to $ 16 billion. said bank manager Kazem fistula, The withdrawal of Iraq from Chapter VII, making the Rasheed Bank thinking to invest his money by opening branches in Arab and foreign countries, pointing out that countries that want the bank to open branches which are Romania, Lebanon and the United Arab Emirates, Egypt, Turkey, Iran, China, Malaysia, Jordan and America. / End