Banking sector infrastructure in Iraq prepared for global banks

Posted by on May 07, 2014 | Leave a Comment

Private Banking Association, revealed that the capital of private banks in Iraq reached 250 billion dinars for each bank, as the banking sector infrastructure ready to receive international banks, there was a “real desire” from Lebanese banks to open branches in Iraq and said the Iraqi banks Association Chairman Adnan Chalabi, on the sidelines in Iraqi-Lebanese Banking Conference held in Beirut on 25-26 April, Iraqi banks “have achieved many accomplishments in the financial industry or economic sector In “, indicating that” during the past three years has made a qualitative leap in the increase of capital and deposits, credit and remittance. “according to the newspaper the range
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, “said Chalabi,” the infrastructure of the Iraqi banking sector is poised to receive World Bank work in Iraq to benefit a customer “, adding that” those banks that Add a touch of genuine Iraqi banking sector through the entry of the Iraqi market in 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 inIraq because the Iraqi market is a good market there may be opportunities where these banks to accelerate their dealings.

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