Standard Chartered Bank of Britain plans to open three branches in Iraq

Posted by on Oct 27, 2013 | Leave a Comment

Standard Chartered Bank to British plans to open three branches in Iraq

on 8.20.2013

Detection Standard Chartered Bank Standard Chartered British, today announced its reliance on support of his government to enable it to open branches in Iraq, while among the main objective of it is to meet the banking needs of the growing clientele in the country, particularly in the electricity sector and the oil, telecommunications and infrastructure, and to find ” foothold “him among U.S. banks, which began providing services there, said his quest to open three branches in the capital Baghdad and Erbil during the last quarter of the current year 2013 and then in Basra during the 2014 next.

And The National newspaper said the UAE The National , published in English, on the subject published today that “Standard Chartered Bank Standard Chartered British rely on his government’s aid to help him to open branches in Iraq by the end of this year.

The National added that “step comes within the framework of a British bank endeavor to find a foothold among U.S. banks, which began offering its services in the banking market of Iraq.”

It showed that “the British bank is preparing to launch three branches in Iraq during the period of the next year and a half, to meet the financial needs of the loans to the country’s reconstruction projects the oil-rich” Iraq “after a decade of war.”

The signals that “American banks operating in Iraq effects, mainly بسيتي the Bank Citibank and JP Morgan JPMorgan where Beshra their investment in the country after the recovery of oil production and the return of investment banking contracts. “

She explained that the “difficult security conditions experienced by Iraq, Standard Chartered Bank is planning to have a presence on the ground there as part of a strategic push into the country.”

She National, said that “a spokesman for Standard Chartered Bank, the bank plans to open three branches in Iraq and two branches will open in Baghdad and Erbil during the last quarter of 2013, the current, to be third in Basra during the year 2014 next and after obtaining the approvals of fundamentalism.”

The spokesman said that “the bank raised its request to Iraqi officials to get a license to open branches and main objective of it is to meet the growing banking needs of our customers working in Iraq, especially in the electricity sector, oil, telecommunications and infrastructure.”

The “British embassy in Baghdad play an active role in helping Standard Chartered Bank to enter the Iraqi market through the list to facilitate the course of negotiations with the federal government and the Kurdistan Regional Government and the bank is trying to get local customers since the first day of the opening of its branches.”

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