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Dar Al Hayat - 19/08/2011
«Warka» Iraq are preparing to merge with «Standard Chartered Bank»
Announced the «Bank« Warka »near the Iraqi Special integration with« Standard Chartered »British, at the request of the Iraqi Central Bank raising capital all private bank to 250 billion Iraqi dinars (200 million dollars) before the end of 2013. The Executive Director of «Warka» Mohammed al-Samarrai and the existence of an agreement for integration reached its final stages between the two banks, Iraqi and British, giving the first bank's ability to finance major projects. He stressed that the integration of the bank with the foreign corporation giant will increase the confidence of customers and the government and the Central Bank of Iraq. The Central Bank of Iraq called on private banks to merge with each other, to ensure the composition of large amounts of capital to facilitate the work of financial and enhance the confidence of citizens in it. The source of the «Union of Iraqi banks» of «life» that «private banks refuse to integrate, as family banks, not financial institutions in the true sense. Every family wants to sit on the throne of a financial institution does not share the second family ». The source explained that the first merger agreed upon will be between four private banks, noting that «there is no solution to these banks, only a merger, being obliged to submit a financial statement the end of 2013 to the Central Bank that it raised its capital to 250 billion Iraqi dinars». and working in Iraq, six Arab and foreign banks are private «Arab Banking Corporation» Bahrain and «Turkish Agricultural Bank» (aprons) and «Bank Melli Iran» Lebanese banks and «Byblos» and «Intercontinental» and «Beirut and the Arab countries». The Iraqi financial institutions are seven state banks, five of which specialist cares for the industrial, commercial and housing, and 30 private banks, of which seven are Islamic.
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«Warka» Iraq are preparing to merge with «Standard Chartered Bank»
Announced the «Bank« Warka »near the Iraqi Special integration with« Standard Chartered »British, at the request of the Iraqi Central Bank raising capital all private bank to 250 billion Iraqi dinars (200 million dollars) before the end of 2013. The Executive Director of «Warka» Mohammed al-Samarrai and the existence of an agreement for integration reached its final stages between the two banks, Iraqi and British, giving the first bank's ability to finance major projects. He stressed that the integration of the bank with the foreign corporation giant will increase the confidence of customers and the government and the Central Bank of Iraq. The Central Bank of Iraq called on private banks to merge with each other, to ensure the composition of large amounts of capital to facilitate the work of financial and enhance the confidence of citizens in it. The source of the «Union of Iraqi banks» of «life» that «private banks refuse to integrate, as family banks, not financial institutions in the true sense. Every family wants to sit on the throne of a financial institution does not share the second family ». The source explained that the first merger agreed upon will be between four private banks, noting that «there is no solution to these banks, only a merger, being obliged to submit a financial statement the end of 2013 to the Central Bank that it raised its capital to 250 billion Iraqi dinars». and working in Iraq, six Arab and foreign banks are private «Arab Banking Corporation» Bahrain and «Turkish Agricultural Bank» (aprons) and «Bank Melli Iran» Lebanese banks and «Byblos» and «Intercontinental» and «Beirut and the Arab countries». The Iraqi financial institutions are seven state banks, five of which specialist cares for the industrial, commercial and housing, and 30 private banks, of which seven are Islamic.
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