Expert: banking sector needs foreign investment companies to promote a practical incident

10:12, February 10, 2013




BAGHDAD (Iba) .. The adviser said the North Bank for Finance and Investment wholesome Elias Abou, the banking sector needs large foreign investment and the participation of the global banking companies of Iraqi banks for the advancement of the banking sector.

He Abbou told the independent press (Iba) to "The Iraqi banks striving to be within international standards in terms of techniques and modern technology but close the doors to investment banking and to the participation of companies are widely under the advancement of Iraqi banks."

"The Iraqi banks are working hard to be a part of the controls and international standards for the exercise of its role in the global banking developments limited by handling coins to transfer abroad."

He explained that "the Iraqi banks need to be developed and the issue of evolution associated with granting credit-confidence and associated outlook for foreign banks to Iraqi banks."

He continued, "The international banks assess banks through specifications and material resources and the level of international relations and the state of the country in general and the issues and security threats and indicators of positive and negative, which makes Iraqi banks a medium level of development and need to pay greater attention because they represent the forces of the country economically." (End)


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