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Weights of the global banks to enter a partnership with Iraq
07/05/2012 0:00
BAGHDAD - The morning
was likely the Executive Director of the Association of private banks Abdul Aziz Hassoun, enter the international banks are known to the Iraqi market for the purpose of sharing with Iraqi banks in the performance of their duties in banking in the coming period.
said: There is a great desire by the international banks to contract with the Iraqi banks to participate in the work and technology transfer, global banking to it, noting that negotiations are still ongoing with council departments, banking, and that the coming period will witness more of an international bank involved with the Iraqi bank.
He added that all the indicators and the results issued during the last year or first quarter of this year indicate that the Iraqi banking sector began to develop and lead its well reflected on its balance sheet which increases constantly and check returns good through shares and shareholders.
The central bank has put three-phase plan to raise banks' capital to 213 million by June 2013 to stimulate lending in the time he recovers Iraq from the sanctions of Chapter VII.
It is noteworthy that Iraq has seven banks owned by the state and 23 private banks, eight Islamic banks in particular, according to the site's central bank, while dominated by the banking sector, banks, Rafidain and Rasheed, and the subject is currently restructuring to pay off the debts incurred by After years of war and sanctions.
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