The delegation of the United States discusses Iraqi banking opportunities for cooperation between the parties







19/10/2017

Economy news Baghdad:



Iraqi bank delegation discussed with a number of banks and financial institutions operating in the United States for cooperation between the two parties.


Iraqi private banks Association said in a press release received news that economy delegations include 17 private banks, Rafidain Bank and Executive Director of the Association of private banks on Gibraltar and the number of advisers to the Association held a meeting in us Strategic Studies Center in Washington with Us delegation include u.s. Treasury and American banks and American financial institutions OPEC Foundation and the number of employees at the U.S. Embassy during the meeting discussing Iraq's economy and the challenges facing it.


"The meeting discussed progress in the Iraqi banking sector and especially in the last five years and promote cooperation with Arabic and foreign banks in addition to the planned reconstruction of the liberated areas and development in the oil sector."


The representative of the US Strategic Studies Center Dan Randy that March meeting, the global media "reverse negative image of Iraq through the years which impact heavily on the entry of foreign companies to work in Iraq, noting that" the Iraqi market contains great positives and great opportunity For investors to work in. "
Meanwhile, the Executive Director of the Association of private banks, to Gibraltar, the US delegation to the evolution of the Iraqi banking sector and the challenges faced during the current period.


Tariq said that "despite the general circumstances of the country but the banks constantly seek to reduce the use of cash in transactions of life across projects you are working on the Iraqi private banks Association in cooperation with the Central Bank such as the draft financial inclusion and localize salaries."


"Private banks strive to be balanced share with State banks through deposits through decisions that stimulate government departments to deal with private banks", noting that "Iraqi banks implement the money laundering Act of terrorism and compliance help And risk management ".


While the Middle East official said Citibank, Dennis Flannery, "American banks now have greater reassurance to Iraqi banks, especially after the CBI positive steps to combat money laundering and punish violators.


"American banks taught him to work with Iraqi banks and projects that provide smooth work.


Iraqi private banks Association decided to constantly establish periodic meetings with the Treasury Department and foreign banks and specifically American with an annual Forum set up between American and Iraqi banks.

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