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CBI underlines the need for foreign banks opening branches in Baghdad first

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CBI underlines the need for foreign banks opening branches in Baghdad first
Posted on November 29, 2013

CBI underlines the need for foreign banks opening branches in Baghdad first stressed the Iraqi Central Bank, on Wednesday, the need to open all the foreign banks branches in Baghdad first, calling Bank Standard Jartrd British to be done qualitatively different from the rest of the foreign banks, as he emphasized the need for Iraq to change the mechanisms of action of banking it.

The central bank governor said Abdul Basit Turki on the sidelines of the opening of the British bank and attended “Alsumaria News”, “The central bank stressed that it should be no bank branches in Baghdad first, each foreign bank wishes to the opening of a branch in Iraq,” and urged “the need to embrace Baghdad’s first all banks and main branches. “

said Turki that “the bank called Bank Standard Jartrd new British who opened a branch in Baghdad that there should be done qualitatively different from the rest of the foreign banks,” stressing that “Iraq needs the support mechanisms banking similar to the works by in the banks of the world. “

He Turkish that “Iraq needs to change the mechanisms of action of banking it, and move forward in this area,” he said, adding that “the challenges facing the banking business in Iraq can be overcome.” was opened by Prime Minister Nuri al-Maliki, on Wednesday ( November 27, 2013) Bank Standard Jartrd British after the approval of the Iraqi Central Bank on November 25 present to open bank Standard Jartrd British branch in Baghdad for the exercise of banking activities different. had a number of private banks Iraqi criticized last July opening of foreign banks in Iraq arguing that it does not meet the ambition and keep away from the economic reality of Iraq.

Noteworthy that Prime Minister Nuri al-Maliki opened (24 June), one of the branches of City Bank of the U.S. in the Green Zone, the first U.S. bank to be opened in Baghdad, while impounded a number of private banks Iraqi opening was considered that would threaten their work.

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