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Specialist: Iraq's economic environment is qualified to attract international and Arab banks
Economy |02-19-2024, 16:06 |
Baghdad today - Baghdad
Economist and professor of financial economics at the University of Baghdad, Hammam Al-Shamaa, confirmed today, Monday (February 19, 2024), that
Iraq’s economic environment is qualified to attract international and Arab banks. Al-Shamaa told “Baghdad Today” that
“Iraq and its economic and even security and political environment are ready to attract international and Arab banks,” considering that
“this is an important step for developing the banking sector in Iraq, whether governmental or private, especially since there are international banks currently operating in Iraq". He stressed that
"the work of any bank, even if it is international, must be in accordance with compliance with international standards in financial transfers, and
any bank that violates this exposes itself to sanctions, whether American or even by the Central Bank of Iraq." He pointed out that
"attracting international banks
must not be limited to one country alone, but rather
it must be comprehensive without any discrimination, and
this is the case in all developed countries of the world."
The talk about attracting banks from outside the country comes as many Iraqi banks continue to be banned from dealing in dollars as a result of non-compliance with the controls of the Central Bank and the US Federal Bank.
https://baghdadtoday.news/242998-مختص-بيئة-العراق-الاقتصادية-مؤهلة-لجذب-المصارف-العالمية-والعربية.html
Economy |02-19-2024, 16:06 |
Baghdad today - Baghdad
Economist and professor of financial economics at the University of Baghdad, Hammam Al-Shamaa, confirmed today, Monday (February 19, 2024), that
Iraq’s economic environment is qualified to attract international and Arab banks. Al-Shamaa told “Baghdad Today” that
“Iraq and its economic and even security and political environment are ready to attract international and Arab banks,” considering that
“this is an important step for developing the banking sector in Iraq, whether governmental or private, especially since there are international banks currently operating in Iraq". He stressed that
"the work of any bank, even if it is international, must be in accordance with compliance with international standards in financial transfers, and
any bank that violates this exposes itself to sanctions, whether American or even by the Central Bank of Iraq." He pointed out that
"attracting international banks
must not be limited to one country alone, but rather
it must be comprehensive without any discrimination, and
this is the case in all developed countries of the world."
The talk about attracting banks from outside the country comes as many Iraqi banks continue to be banned from dealing in dollars as a result of non-compliance with the controls of the Central Bank and the US Federal Bank.
https://baghdadtoday.news/242998-مختص-بيئة-العراق-الاقتصادية-مؤهلة-لجذب-المصارف-العالمية-والعربية.html
