Opening of foreign banks in Iraq would strengthen the banking sector and its development

Posted by on Dec 11, 2013 | Leave a Comment

Baghdad (newsletter). Commission on the economy and investment, the importance of global banks to open branches in Iraq to create a competitive atmosphere among local and foreign banks to provide better banking services.

The Rapporteur of the Committee, said MP/Kurdish Alliance/mahma Khalil (News Agency): the Iraqi banking sector is still lagging behind developments in global banks, therefore bringing global banks discreet to open branches in Iraq will work primarily to broadcast culture and identify the most important technologies involved in banking, which will spur local banks to develop their work.

He said: it is necessary to encourage international banks to open branches in Iraq to create a competitive atmosphere where competing domestic and foreign banks to provide the best banking services using the latest technology.

He noted: that desire a discreet banks and internationally known kalamriket and English to work in Iraq as evidence that Iraq a fertile environment for business and investment and has considerable economic potential

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