Iraqi bank sources predicted the growing number of branches of banks operating in Iraq by the end of this year to 50 banks, ten Lebanese banks, entered the banking market of Iraq five years ago to add an important presence attracted wide public quarters, including businessmen and Iraqi investors and Lebanese and Arabs living in Iraq.Iraqi banking expert said Fayek Nasser Hussein told «life», that Lebanese banks, which are distributed in Baghdad, Basra, Erbil, other Iraqi cities "have a history and a comprehensive banking experience compared to banks in countries in the region, are keen to offer banking products and services in a manner that engages with the customer in a manner different from what is supported by the Iraqi banks, making the Lebanese banks attracted more Iraqi businessmen.
He pointed out that Lebanese banks into the Iraqi market, "taking advantage of promising future prospects, help her activate compete with banks from other countries, notably Turkey and Iran.Little banks «Byblos», «antrkontnal» and «Lebanon Beirut, Arabic», the first initiative to open branches in Baghdad, Basra and Erbil and Sulaymaniyah, and then followed by «Bank of the Mediterranean and Lebanese-French Bank» and «count»
Lebanese, "Lebanon and the diaspora Bank» and «Bank of the Middle East and North Africa» and «fransabank» finally «Bank».Iraqi officials confirmed working in Lebanese banks, "fighting new experience different than was the case in Iraqi banks, adopt the flexibility in dealing with the need to anticipate the risks, given the specificity of the Iraqi market and the special».
He drew to the Iraqi Central Bank «select operating capital to the Lebanese bank branches with $ 7 million, and track managed in the us which increases capital to $ 1 billion. He said that "the Iraqi Central asked foreign banks in Iraq, including the Lebanese capital increase to 70 million dollars, in order to increase the volume of activity, especially the amount of capital banks ist select roof at least 250 billion Iraqi dinars, about $ 215 million.Hussain noted "an increase in the size of treat Iraqis with Lebanese banks, as Iraqi businessmen began to recognize cards «visa» issued by these banks for its weight globally, and the availability of bank branches and many international banking relationships.