Executive Director of Standard Chartered Bank's "time": Maliki will attend the opening of the main branch in Baghdad today

Published on Wednesday, 27 October / 2 November 2013 10:48


BAGHDAD - Awan
Announced Executive Director of Standard Chartered Bank in Iraq, Gavin Wishart, Wednesday, that the bank will open its main branch in Baghdad today in the presence of Prime Minister Nuri al-Maliki.

Wishart said, in a statement to "time", "will open today at the Baghdad branch of Standard Chartered Bank headquarters in Iraq," stressing that "the opening ceremony will witness the presence of Iraqi Prime Minister Nuri al-Maliki."

He added that "a number of senior Iraqi officials, as well as businessmen, will attend the opening ceremony."

And repented and Wishart, that "the Bank will play a pivotal role in the development of the Iraqi banking sector and will contribute effectively to the economic development of Iraq."

The Standard international banks have been active since more than 150 years in global markets activity comes about 90% of its revenues and profits from the markets of Asia, Africa and the Middle East. The bank has a branch in 1700 in 70 markets.

The Central Bank of Iraq, announced last Sunday, for giving the Bank (Standard Chartered) license to open a branch in Baghdad, as demanded by firing (7) million dollars as a lump operational capital.

The bank said in the book of the sender to the bank received "time" copy, "based on the ongoing correspondence with the bank, the Board of Directors decided to grant final approval of your bank to work in Iraq."

"It has been approved to open a branch of your bank in Baghdad," calling the bank "to inform the Central Bank directly on the branch in order to provide him with the symbolic number."

According to the statement, approved by the Central Bank on the firm (KPMG) to monitor and audit of the branch of the Bank (Standard Chartered).

He demanded the central bank (Standard Chartered) the amount of the release of working capital in the amount of 7 million dollars, equivalent in Iraqi dinars.


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