The CBI supports the trend of private banks to open letters of credit of State
The CBI supports the trend of private banks to open letters of credit of State
Saturday July 21, 2012
BAGHDAD – and babysit – Central Bank of Iraq confirmed its support for the direction of private banks to open branches abroad and opening documentary credits of Foreign Affairs.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh in a press statement that: “The central bank support and encourage this trend because it is the correct procedure, which gives the guarantee for the arrival of goods to Iraq.”
He added: “The Rafidain and Rasheed Aimknhma to do so in circumstances beyond their control because of the claims is a friendly against Iraq lawsuits from dealers and companies to claim the money as compensation decision.”
He noted that Iraq is suffering a weakness in the role of government banks in opening letters of credit for the reasons mentioned, and that private banks are limited international relations.
And Saleh stressed that the central bank encourages a competitive environment between the banking and large private banks in this area because it facilitates the entry of special services investors.
The bank of the Tigris and Euphrates Ahli adopted a program of open letters of credit through the Foreign Trade Bank of Iraq, a move is the first of its kind in Iraq … p / i
Source: alrayy
