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09/12/2011 09:11
Baghdad, December 9 (Rn) - confirms the Director General and Chairman of the Board of Trade Bank of Iraq the (TPI) Hamdiya Mahmoud dry that its bank is not under any political pressure, saying in his interview with the correspondent of the News Agency of Kurdistan (Rn), to seek coordination with other stakeholders to increase the bank capital of $ (500) trillion dinars in order to broaden the base of his dealings as well as increase the number of branches internally and externally in accordance with the priorities of the investment. * any entity subject to Trade Bank of Iraq and any law regulating the work, and what are his duties?. - Trade Bank of Iraq is a bank was established in 2003, according to its law No. 20 of the CPA dissolved at the time, and based on its law, he has the Board of Directors, and today is the third-highest executive authority in the country, the prime minister of Iraq, the goal of establishing the bank is to be the interface of Iraq's financial outward with respect to transactions of the Iraqi state with the outside world because the Rafidain and Rasheed in which problems and indebtedness of an international, and a short period of work of the bank has achieved big goals is the bank is the first in oil transactions for the Middle East. * How much is the capital of the bank present whether it is enough to cover its activities? - Capital Bank of Iraq trade is 500 billion Iraqi dinars, and the percentage of profits the bank in a steady increase each year, and the bank wide network of correspondents in foreign banks, certainly the amount is not enough, we are seeking to raise the amount to the trillion dinars have been approaching the concerned authorities to increase the capital and still discussions ongoing. * What is the number of bank branches in Iraq, do you have the intention to increase the number of branches at home and abroad?. - in the bank with 14 branches in Iraq, in Sulaimaniya, Erbil and Anbar, Basra, Dhi Qar, and Salah al-Din, Najaf, Karbala, and Baghdad airport, and the rest of the branches deployed in the capital, and these branches of our point of view is not sufficient and it is not ambitious, we currently have approvals from the central bank to increase the number of branches on the basis that at least for each province branch and this is according to the priorities of the size of investment business in the provinces, and were approaching the Lebanese side to open the branch of the bank and there are still measures with the Central Bank of Lebanon, and there is also the intention to open a bank in Turkey because of the increased trade. - Is there any political interference in the work of the bank or pressure from certain quarters, whether in Baghdad or the provinces?. - the bank is a financial institution, independent of any political bickering, and any political interference or government without Matqtadhah laws in force, in the absence of any political pressure in his work. * What types of loans given to investors and what is the mechanism that adopting here in that? - There are two types of loans granted by the Trade Bank of Iraq is a short-term up to a year, medium term up to four years, and this also depends on the projects, and is the granting of loans and funding the project provided that the safeguards required by companies and investors, and change management of the bank earlier was the result of the state of semi-chaos management in the bank through the granting of financial loans without collateral so it was on the bank financial obligations, or loans in amounts not significant, and the current policy approved that the loans on the basis of assurances can the bank from which to recover his money easily. * How do you assess the reality of investment and what are the obstacles faced by the Trade Bank of Iraq?. - General There should be an opportunity to enter the banks in the investment process, today in Iraq, the economy unilaterally depends directly on the oil, so it must be activated other sectors, agricultural, industrial, and through the promotion of sectors will be the bank supporting the rehabilitation of those sectors and therefore will increase an area of work. The Hamdiya Dry running adviser in the government Rafidain Bank, and recently commissioned commercial bank management agency after fleeing the former director Hussein Uzri to Lebanon after being accused of wrongdoing and said that it asked the time Iraq, lots of money. From: Haidar Ibrahim, the Open: Peace Baghdadi
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