Director of private banks: the coming period will witness the entry of international banks to partner with the Iraqi

On: Sun 05/06/2012 8:36


Baghdad (news) .. most likely director of the Association of private banks Abdul Aziz Hassoun, entry of international banks known to the Iraqi market for the purpose of sharing with Iraqi banks in the performance of its duties banking in the coming period.

The Goldfinch (of the Agency news): There is a great desire by the international banks to contract with the Iraqi banks in order to participate in its work and the transfer of technological global banking to it, adding that negotiations are still ongoing with council departments, banking, and that the coming period will witness more than one bank global participant with an Iraqi bank.

He added that all the indicators and the results issued during the last year or first quarter of this year indicate that the Iraqi banking sector began to develop and lead its work well, which is reflected on its balance sheet which increases constantly and achieve good returns through shares and shareholders.

The central bank has set a three-stage plan to raise banks' capital to 213 million by June 2013 to stimulate lending at a time when Iraq is recovering from Chapter VII sanctions.

It is noteworthy that Iraq has seven banks owned by the state and 23 private banks, eight Islamic banks in particular, according to the site's central bank, while dominated by the banking sector, banks, Rafidain and Rasheed, and the subject is currently restructuring to pay off debts that have accumulated after years of war and sanctions.