Government banking sector seeks to open up to the world

7/7/2015 0:00

BAGHDAD - Mostafa Hashemi


Iraq aims to develop and promote external economic and trade relations through openness to the Arab and foreign banks what would improve the performance banking and government developed especially after the long years of isolation due to sanctions Atah.ovi this regard said economic researcher verse just that the public sector banks move towards opening up to Foreign banks, Arab and foreign, comes as a natural result of the liberation of Iraq from Chapter VII of the UN Charter restrictions, especially in regards to the movement of funds and the opening of branches of Iraqi banks abroad so as to enhance Alforeig.oadavc just economic cooperation in an interview for the "morning" was the consequences of UN resolutions

Economic big on Iraq, where inflicted great damage to the sector the government banking in the nineties through the freezing of the funds and the closure of the branches of the Rafidain Bank abroad, adding that it reflected negatively on the economic and trade relations between Iraq and the countries of Alm.orot that after the liberation of Iraq from Chapter VII and the return of life Economic to recovery after 2003 the government's efforts began to comply with international decisions to lift economic sanctions on the country what yielded declare Iraq out of Chapter VII in the summer of 2013, saying he was actually move to re-open a number more of the branches of the Rafidain Bank in abroad, especially in Arab countries and the Pacific Alakulaima.ookdt that openness to the world banking government would develop banking experience, especially after the long years of isolation from the world and keep up with evolution movement in the banking sector in the countries of Almamorh.aly confirmed that Rafidain Bank, seeks to support the national economy, by keeping up the progress and cooperation with Arab and international banks, noting that it will contribute to an increase banking Alforeigh.oukal general manager of the bank on behalf of Kamal al-Hassani, in a statement that "open horizons of banking cooperation with Arab and international banks, will contribute to increasing the volume of external banking transactions through opening letters of credit, and the issuance of letters security and conduct foreign investment and remittances operations. "

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