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British bank confirms the willingness of international banks to open branches in Iraq and expert sees it as a "drain" of foreign currency
Sat Aug 23 2014 23:12 | (Voice of Iraq) - the long-Presse / Baghdad confirmed the British bank, that a lot of international banks want to open branches in Iraq to facilitate the work of the companies in which their countries, while financial expert criticized the CBI for allowing opening of these branches without forcing it to implement a series of actions that serve the country, to become competitive with national banks and the source and drain of foreign currency. said Chief Executive Officer of Standard Chartered Bank, British, decaffeinated and Wishart, in an interview to the (long-Presse) that "among global banks a strong desire to work in Iraq to facilitate the work the large number of international companies and the British in it, "adding that" the Iraqi banking sector in significant progress in terms of follow modern technologies and benefit from international experiences in operations around can the future of access to the ranks of international banks. " said Wishart, that "the work of the Standard Chartered Bank limited to customer service global companies that have a connection with the projects the British in Iraq, "adding," but this does not preclude the provision of assistance to the banking sector of Iraq through training Mlakath. " But financial expert Abdul Aziz Hassoun, criticized the work of international banks in the country, and allow the Bank CBI opened it to be "rival Iraqi banks and not supportive," attributing it to being "offers the benefit of companies, countries on the reality of the Iraqi financial sector." said Hassoun, a former president of the Association of Iraqi banks, in an interview to the (long-Presse), "The opening of branches for international banks in Iraq, including British, adds nothing to the banking sector or the financial Iraqi, for confining their work to firms of their countries, "returned that" it is contrary to custom financial advocated by the laws of the Iraqi banks. " said financial expert, that "the work of those branches drains foreign currency in Iraq because of conversions carried out by ", stressing that" the branches of international banks do not employ a part of the funds deposited in or you are transferring in development projects or grant loans to promote projects various Iraqi, so form a rival Iraqi banks and not supportive. " and saw Hassoun, that "any citizen or Iraqi businessman can not open an account in any of the branches of international banks, which should welcome this," pointing out that "its policy prohibiting it because it came to the implementation of personal interests not only." and criticized the financial expert, "Procedures Central Bank of Iraq, "and accused him of being" granted licenses to branches of international banks without forcing the implementation of a number of businesses that serve the country, such as loans and establish projects that registered a negative point against it. " In Iraq, there six foreign banks, most notably Standard Chartered Bank, which opened in November From the year 2013.
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Sat Aug 23 2014 23:12 | (Voice of Iraq) - the long-Presse / Baghdad confirmed the British bank, that a lot of international banks want to open branches in Iraq to facilitate the work of the companies in which their countries, while financial expert criticized the CBI for allowing opening of these branches without forcing it to implement a series of actions that serve the country, to become competitive with national banks and the source and drain of foreign currency. said Chief Executive Officer of Standard Chartered Bank, British, decaffeinated and Wishart, in an interview to the (long-Presse) that "among global banks a strong desire to work in Iraq to facilitate the work the large number of international companies and the British in it, "adding that" the Iraqi banking sector in significant progress in terms of follow modern technologies and benefit from international experiences in operations around can the future of access to the ranks of international banks. " said Wishart, that "the work of the Standard Chartered Bank limited to customer service global companies that have a connection with the projects the British in Iraq, "adding," but this does not preclude the provision of assistance to the banking sector of Iraq through training Mlakath. " But financial expert Abdul Aziz Hassoun, criticized the work of international banks in the country, and allow the Bank CBI opened it to be "rival Iraqi banks and not supportive," attributing it to being "offers the benefit of companies, countries on the reality of the Iraqi financial sector." said Hassoun, a former president of the Association of Iraqi banks, in an interview to the (long-Presse), "The opening of branches for international banks in Iraq, including British, adds nothing to the banking sector or the financial Iraqi, for confining their work to firms of their countries, "returned that" it is contrary to custom financial advocated by the laws of the Iraqi banks. " said financial expert, that "the work of those branches drains foreign currency in Iraq because of conversions carried out by ", stressing that" the branches of international banks do not employ a part of the funds deposited in or you are transferring in development projects or grant loans to promote projects various Iraqi, so form a rival Iraqi banks and not supportive. " and saw Hassoun, that "any citizen or Iraqi businessman can not open an account in any of the branches of international banks, which should welcome this," pointing out that "its policy prohibiting it because it came to the implementation of personal interests not only." and criticized the financial expert, "Procedures Central Bank of Iraq, "and accused him of being" granted licenses to branches of international banks without forcing the implementation of a number of businesses that serve the country, such as loans and establish projects that registered a negative point against it. " In Iraq, there six foreign banks, most notably Standard Chartered Bank, which opened in November From the year 2013.
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