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Bold decision of the Central Bank - Entries - Zaid ornaments
– May 22, 2015
.
While the Iraqi citizen passes in front of the titles and names of the branches of Arab and foreign banks operating in Iraq feel proud and psychological reassurance, the conviction Assembly, that the (capital) are generally looking for security, safety and stability, and that one of the signs of stability is the presence of these banks!
But, it turned out otherwise, as foretells the case .. How?
In 2008. In the context of openness to foreign banking sector policy and encourage them to open branches in Iraq, or to participate in Iraqi banks' capital, the Iraqi Central Bank to grant licenses under No. 94 Law to more than 18 branches of foreign banks, including five Turkish banks and two banks Iranians, The bank "Citibank" and "Standard Chartered" and Britons for "Abu Dhabi Islamic Bank." Also granted leave to Lebanese banks are: Bank of Lebanon and the Diaspora, the Middle East and Africa Bank, Byblos Bank, Bank of Credit Lebanese, Mediterranean Bank, Bank of Beirut and the Arab countries, the Lebanese French Bank, Intercontinental Bank, Fransabank and Bank Audi.
But the curious in this regard, that many people do not know, that the upper limit of the capital of these branches is currently only seven million dollars only, for each branch, which is equal to the price (mall) is simple in a Baghdad neighborhood or drug a few thousands of meters ... and with such poor capital such , can not be administered network economic activities desired by allowing banks and foreign banks decision to open branches in Iraq .. The CBI alert kindly to it, select a sovereign decision, rightly, to be the capital of these branches of $ 70 million at a minimum, two batches , of which $ 35 million for each batch, the first ending in the next month, and the second at the end of the current year, so that the section on the level of responsibility at work, and not a form of remittances figurehead, as is happening now !!
Joyful central decision of Iraq, it came to plugging disadvantage and (gap) in not taking place in the reciprocity of equality, which is a humanitarian law and economic and legitimate, since all laws and regulations of neighboring countries do not give a license to Bank of Iraq, but after he assured and ensure that the capital of a hundred million dollars and more ... while the capital of branches of foreign banks is currently only $ 7 million ... What kind of injustice?
Iraqis economists rejoicing, the decision of the Central Bank of Iraq, after Mtaavathm activities and the work of banks and foreign banks that they found no more than investments in money transfer, take out the currency of the country Ahpty ways, and did not supply the Iraqi banking map, including through the development taking place in their countries and more than 150 service financially and product for which The bank, with sufficient equipment and primitive, but lower than in local banks, limited and ordered them to hire the headquarters of simple, does not include the means of modern banking, and not to their contribution to the economic projects in Iraq provide job opportunities for Iraqis and increase their skills ..
News refers to the pressure, exposed to the Iraqi Central Bank currently counterparts abroad, to wait in the implementation of its resolution, but the Iraqis economists confidence, especially the banking sector, which is exposed to harm as a result of the survival of capital low foreign banks, large that those pressures Stthaoy in front of national interest
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– May 22, 2015
.
While the Iraqi citizen passes in front of the titles and names of the branches of Arab and foreign banks operating in Iraq feel proud and psychological reassurance, the conviction Assembly, that the (capital) are generally looking for security, safety and stability, and that one of the signs of stability is the presence of these banks!
But, it turned out otherwise, as foretells the case .. How?
In 2008. In the context of openness to foreign banking sector policy and encourage them to open branches in Iraq, or to participate in Iraqi banks' capital, the Iraqi Central Bank to grant licenses under No. 94 Law to more than 18 branches of foreign banks, including five Turkish banks and two banks Iranians, The bank "Citibank" and "Standard Chartered" and Britons for "Abu Dhabi Islamic Bank." Also granted leave to Lebanese banks are: Bank of Lebanon and the Diaspora, the Middle East and Africa Bank, Byblos Bank, Bank of Credit Lebanese, Mediterranean Bank, Bank of Beirut and the Arab countries, the Lebanese French Bank, Intercontinental Bank, Fransabank and Bank Audi.
But the curious in this regard, that many people do not know, that the upper limit of the capital of these branches is currently only seven million dollars only, for each branch, which is equal to the price (mall) is simple in a Baghdad neighborhood or drug a few thousands of meters ... and with such poor capital such , can not be administered network economic activities desired by allowing banks and foreign banks decision to open branches in Iraq .. The CBI alert kindly to it, select a sovereign decision, rightly, to be the capital of these branches of $ 70 million at a minimum, two batches , of which $ 35 million for each batch, the first ending in the next month, and the second at the end of the current year, so that the section on the level of responsibility at work, and not a form of remittances figurehead, as is happening now !!
Joyful central decision of Iraq, it came to plugging disadvantage and (gap) in not taking place in the reciprocity of equality, which is a humanitarian law and economic and legitimate, since all laws and regulations of neighboring countries do not give a license to Bank of Iraq, but after he assured and ensure that the capital of a hundred million dollars and more ... while the capital of branches of foreign banks is currently only $ 7 million ... What kind of injustice?
Iraqis economists rejoicing, the decision of the Central Bank of Iraq, after Mtaavathm activities and the work of banks and foreign banks that they found no more than investments in money transfer, take out the currency of the country Ahpty ways, and did not supply the Iraqi banking map, including through the development taking place in their countries and more than 150 service financially and product for which The bank, with sufficient equipment and primitive, but lower than in local banks, limited and ordered them to hire the headquarters of simple, does not include the means of modern banking, and not to their contribution to the economic projects in Iraq provide job opportunities for Iraqis and increase their skills ..
News refers to the pressure, exposed to the Iraqi Central Bank currently counterparts abroad, to wait in the implementation of its resolution, but the Iraqis economists confidence, especially the banking sector, which is exposed to harm as a result of the survival of capital low foreign banks, large that those pressures Stthaoy in front of national interest
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