Iraq ~ Association of private banks: large global banks wished to hold partnership with Iraqi banks

Sunday 11-12-2011

Association of private banks: large global banks wished to hold partnership with Iraqi banks

Baghdad, Director of the Association of private banks revealed Abdul alazizahson on a negotiation between large global banks and financial Iraqis for holding awalasthwaz shares to Iraqi banks.

Hassoun said in a statement to a reporter (News Agency news) Sunday: began large banks in the world dealing with Iraqi banks and exchanges in financial instruments and other operations, noting that global banks after the year (2004) began to come to Iraq to open branches, but ansadmt with complex routines.

Hassoun said: there are many global banks have shown willingness and desire to engage in partnerships with Iraqi banks or cornering him, saying: to negotiate with Iraqi financial ... for the purpose of obtaining approval to enter the Iraqi market.

He noted: the world banks come to Iraq to take market share for foreign transactions and not necessarily to provide funding for Iraqi projects, Director of the Association of private banks continued to the Iraqi scene is cluttered not allow attracting global banks to the fact that the institution the Bank's kberaddia nearly (39) Government and private banks.

State at the end of the year (2010), the number of banks operating in Iraq arrived (43) banks, including State banks (7) total headers Awale HA towards (6093), as well as Iraqi billion dinar (36) private banks with total capital amounts to (202) trillion dinars.

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