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The high capital of private banks in Iraq to one billion dollars on Wed Apr 07, 2010 9:50 am
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The high capital of private banks in Iraq to one billion dollars
2010-04-07 14:45:44
BAGHDAD: President of the Administrative Board of the Association of private banks, Iraqi and Wadi Handal for an increase in total capital of private Iraqi banks from 30 million in 2004 to one billion and 600 million dollars now, except that owned by the branches of Arab and foreign banks operating in the country.
He said in a press statement that the number of private banks rose from 17 banks in 2004 to 31 banks currently in the number of branches in Baghdad and other governorates from 100 to more than 600 branch to compete in the number and level of services in Iraq bank branches and rational.
He said Handal said in remarks reported by Qatar News Agency "Qana" to private banks before the government in the level of services and use of modern technology where it has spent generously for Information Technology and software of modern banking and has linked its subsidiaries departmental public with modern communication devices to speed up the completion of transactions on the one hand and to increase oversight and supervision from the other side.
He said that the banks, Iraqi special posts for Foreign Affairs of the Arab banks and foreign Jordan, Kuwait and the GCC, Iran, Britain and others has expanded its network of correspondents with international banks in international financial centers to complete the formalities for foreign trade of Iraq or to be transferred from Trade Bank of Iraq to cover the imports of some government departments in the financial aspects.
The statements to the Undersecretary of the Ministry of Finance and expectations of the Prophet Fadel bankruptcy of a number of private banks, has raised questions about the role of these banks in the Iraqi economy in the light of the reality of work now.
He said Undersecretary Fadel prophet to "the opening of a large number of private banks in a relatively short time, but you can not play its supposed to which led to the occurrence of some of the problems," expected, "the bankruptcy of a number of them." (End) / g / ..
2010-04-07 14:45:44
BAGHDAD: President of the Administrative Board of the Association of private banks, Iraqi and Wadi Handal for an increase in total capital of private Iraqi banks from 30 million in 2004 to one billion and 600 million dollars now, except that owned by the branches of Arab and foreign banks operating in the country.
He said in a press statement that the number of private banks rose from 17 banks in 2004 to 31 banks currently in the number of branches in Baghdad and other governorates from 100 to more than 600 branch to compete in the number and level of services in Iraq bank branches and rational.
He said Handal said in remarks reported by Qatar News Agency "Qana" to private banks before the government in the level of services and use of modern technology where it has spent generously for Information Technology and software of modern banking and has linked its subsidiaries departmental public with modern communication devices to speed up the completion of transactions on the one hand and to increase oversight and supervision from the other side.
He said that the banks, Iraqi special posts for Foreign Affairs of the Arab banks and foreign Jordan, Kuwait and the GCC, Iran, Britain and others has expanded its network of correspondents with international banks in international financial centers to complete the formalities for foreign trade of Iraq or to be transferred from Trade Bank of Iraq to cover the imports of some government departments in the financial aspects.
The statements to the Undersecretary of the Ministry of Finance and expectations of the Prophet Fadel bankruptcy of a number of private banks, has raised questions about the role of these banks in the Iraqi economy in the light of the reality of work now.
He said Undersecretary Fadel prophet to "the opening of a large number of private banks in a relatively short time, but you can not play its supposed to which led to the occurrence of some of the problems," expected, "the bankruptcy of a number of them." (End) / g / ..