The formation of the Board of Trustees combines Arab Banks

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3/9/2015 0:00

Iraq choose a founding member of the
BAGHDAD - Hussein al-Tamimi Tgb


Arab banks associations decided to form a Board of Trustees of her and take Iraq as a founding member.

This came on the sidelines of the first meeting of the Trustees of the associations of Arab Banks in the presence of a delegation from Iraq like head of the Iraqi private banks association, this conference was an initiative of the Union of Arab Banks, and the presence of the Secretaries-General of the associations of Arab and regional banks, and with the participation of 19 Arab countries in addition to Turkey, Cyprus and South Africa, Within a round table dialogue recently and hosted by Beirut.

Executive Director of the Association of Iraqi private banks Tariq Ali told the «morning« The meeting discussed the first two reports submitted by the Union of Arab Banks and the International Monetary Fund about the impact of legislation and international laws in the Arab Banks and banking operations performance and the future of the banking business in the Arab region.

He noted that the second report dealt with evaluating the Arab economy prepared by the Union, is due to come in next September to the (business group B20) for its consideration, as a prelude to lifting the report to the leaders in the top twenty in their meeting on 15 November next, headed by Turkey for this Am.ofatt to The second report included a comprehensive, accurate and deeply about the Arab region's economies survey within the following ten themes: (trade, unemployment, the financing of small and medium-sized enterprises, poverty and imbalance in wealth and income distribution, as well as economic and political stability, and financing for growth and development, infrastructure (water power Communications), as well as domestic investment and foreign direct investment, the survey also included the economic role of energy) gas and oil (and the rule of law and stability
 Legislative).

And between Tariq said the meeting included discussion of areas of cooperation between the Arab and regional banks associations, pointing out that the documentation of bridges of cooperation between Arab banks comes with positive results on the Iraqi banking sector, which leads to the exchange of experiences between the member states and in turn develop banking products that offer to the public beneficiaries.

He noted that the presence in the Arab arena permanently lead to a competitive process between Aalmassarv operating within this framework, and therefore there will be a mutually beneficial ideas and affect all of Arab Banks and the participation of other countries have a desire to be present within this framework.

He said the Arab Banking arena has efficient experiences high and deal with the best global banking technology and we are working on adoption in the region and Iraq in particular, especially that Iraq is in dire need of an advanced and efficient banking sector, where there are specialized international companies wish to work in Iraq and is waiting for a bank sector a high degree of sophistication.

Iraq was represented by the Association of Iraqi private banks have participated the first meeting of associations of Arab Banks in the Lebanese capital Beirut to come out meeting the recommendation of the founding Board of Trustees of the associations of Arab Banks and Iraq is a founding member of the


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