Financial: Arab Bank proves the success of our monetary sector
Date: Thursday, 09/20/2012 06:57 am

Baghdad / Ahmed Abed Rabbo
considered financial experts and bankers Seen Arab Bank Iraq evidence sobriety and success monetary sector in the country, pointing out that the last witness real competition by banks and companies. Bank is heavier financially significant in the world of money and seeks to open branches in Iraq in his plans future. A Jordanian bank founded 1930

And is one of the world's largest banks and spread its branches in most countries of the world. The director of the Association of private banks Abdul Aziz Hassoun's (range): that the entry of Arab Bank to Iraq gives a clear indication of the success of monetary policy in the country, as well as being proof proves movement offers investment in Iraq, saying Arab Bank School global banking ruled more than eighty years working in the field of money.

Goldfinch said: There is a great desire by the international banks in the contract with the Iraqi banks to participate in its work and the global banking technology transfer to them, pointing to the Iraqi banking sector began to develop and lead its well.

, Said financial expert Farouk Ramadan's (range): The detente financial between Iraq and international banks known that would support fiscal policy and creates a competitive environment between Iraqi banks and foreign banks operating in the country, pointing out that the Arab Bank, a Jordanian bank discreet in financial dealings .

Ramadan promised his country a promising market for the Arab banking sector and foreign investment, noting that the investment environment in the country is witnessing a real competition by international companies.

He pointed out that the economic figures that ran the Arab Bank was having a good reputation and a great experience in the field of money.

The Arab Bank confirmed that the process of studying the presence in Iraq as part of his future plans, pointing out that it needs to be assessed and thus to time.

Said Chairman of the Board of Directors of the Arab Bank Sabih Masri in a press statement: The Council will put a plan in collaboration with the executive management to activate his return in the competition and achieve growth and profitability in Iraq.

Earlier, between the Central Bank of Iraq to foreign banks operating in Iraq are not working independently, but under the umbrella of the local civil banks, noting that the regional countries investments in Iraq of a commercial nature and lacks the international standards.

The central bank adviser said the appearance of Mohammed Saleh: "The investment banking foreign in Iraq working under the umbrella of Iraqi banks eligibility," noting that "does not work explicitly sinks foreign, which, if any, for the form of branches of banking companies foreign is not strong compared to companies global banking ".

The many Arab and foreign banks made after the issuance of the Banking Act No. 94 of 2004, for licenses to establish private banks in Iraq, whether 100%, or in partnership with Iraqi banks local, or to open branches to work in Iraq, but that security conditions prevented Therefore, with the exception of a few posts that have been achieved with a number of national banks.

And working in Iraq 44 waged, and foreign banks, including branches of the Lebanese banks and Emirati, Iranian and Turkish in addition to the 6 state banks are Rafidain and Rasheed and Trade Bank of Iraq and the Industrial Bank and the Agricultural Bank and the Land Bank.