Economic Committee Member: British Standard Bank opening is opportunity to attract international companies to invest in the country

Posted by on Oct 28, 2013 | Leave a Comment

06-09-2013 07:20 AM
Baghdad (newsletter). Member of the Economic Committee of the National Alliance MP Hussein almerapi, said the opening of a British Bank in Baghdad is an important step to bringing global investment companies in Iraq.

Said almerapi (News Agency): the banking environment is the heart of the economic process and thus opened a giant banks will contribute to the development of the environment and to support development and reconstruction in Iraq, noting that in the absence of solid banks, many global companies will hesitate to come to establish giant projects.

He added that Iraqi banks don’t meet all the requirements that major capacity not exceeding five million, especially as a future Iraq to build large projects and the construction of 100,000 housing units, said Iraq needed to global investment firms and big banks for the completion of these projects.

The Central Bank announced the agreed in principle to open the standard garterd Bank branch in Baghdad, expecting to start the Bank its work before the end of this year.

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