Foreign banks in Baghdad: Healthy phenomenon to achieve prosperity and economic recovery

Posted: December 2, 2013 in Iraqi Dinar/Politics
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02/12/2013 15:37

Banks entered the global and Arabic, despite the circumstances to the Iraqi market to invest and operate Pkuadrha local, Arab and foreign, as it was unable to security incidents experienced by the country of suspended life, but escalated the opening of these banks, whether in Baghdad or the provinces, which led to a boom in economic activity and easy movement capital to invest.

“Tomorrow’s Press,” I talked with citizens and economic experts and specialists in the field of finance and business, who have had their minds the issue of banks that existed in Baghdad after the year 2003, which creates a government land suitable for work.

Summit require economic renaissance

Says Hassan Falah, an employee of the people of the district Assembly, said that “the work of banks lends to the Iraqi economy fundamentals are correct in order to reach the ranks of developed countries, which have evolved due to the economic boom that erosion on activated capitalist countries.

He continues good, “in order to get to the summit, to be prosperous and achieve economic recovery, and this does not come only with the participation of other countries have their expertise and know-how in the field of banking, which is supposed to establish a base in the head of Baghdad.”

Cooperation and coordination make us a modern state

It adds a gift Shawki, an employee at the University of Baghdad, for “tomorrow’s Press,” “The presence of such a bank makes the country the focus of attention of the world because we do not disagree about the rest of the neighboring countries, which have become held the largest and most powerful international exhibitions, and invest in from all over the world and the strongest performances The largest amount of money that may be equivalent to building a complete infrastructure in Baghdad. ”

And refers to the need to “work harder and keen and private sectors in order to establish a promising future for the country and this ambition can not be born, but the existence of strategic plans and real partnership and cooperation, to become a modern state hit by sayings like the rest of the world.”

We need the expertise of international companies

And draws Sri Muhammad resident in one of the neighboring countries, that “the basis of the success of the state depends on the intensification of the economic effort, which includes the establishment of strong relations with all countries that depend on the external structure and framework in dealing with other countries on the economy.”

Asserts that “the title of the prosperity that awaits Iraqis despite suffering comes through maximum efforts and the introduction of international companies known for their territory to be a springboard for the construction and reconstruction, which has long been the work of small and large to achieve it.”

Adversely affect the security situation

Show Asenath Karrar, an employee at one of the banks of Baghdad, said that “the situation that prevailed in the country, has made a number of businessmen pinning their work in the capital and provinces, which impact negatively on some sectors of the state, and this is normal and happens to all the countries of the civilized world evolving.”

According Asenath to “the country’s need urgent to bring committees banking from countries with her financial and founded by practical and scientific system of banking in order to get to what we dream about him, and this dream can not be achieved only through the establishment of a breeding ground for foreign investors in order to benefit, them and their projects that move the joints of the economic life of Iraq. ”

Iraq is a country attractive for global banks

Refers Mahmoud Murtada, a beneficiary of one of the banks, for “Algdbers” that “the presence of foreign banks in Baghdad, would make it the focus of everyone and make them look different economic and healthy, Our country enjoys all the benefits and pros that is intended to pave the way for an economic renaissance fact the country needs , especially since we have the expertise and scientific personnel that make us not Nnqs something about the rest of the world. ”
Their presence creates an atmosphere of competition
Explains economic expert Majid picture, for “tomorrow Press” that “the presence of foreign banks in the country, is crucial because it creates an atmosphere of competition rages about offers and services provided by their counterparts in Iraqi banks, but the branches of foreign banks operating in Iraq is supposed to be them, links are governed by laws and by the Central Bank of Iraq. ”

Shows pictures “The presence of international banks known in Baghdad, as a bank, Standard Chartered, gives a positive image of the economic situation in the country, because it ensures that a number of cadres and international experiences that qualify for the countries of the world recovery and economic prosperity is unparalleled, and his work in Iraq, according to the global systems is clear evidence that we live up to what we came to achieve the goals. ”

Routine controls the work of banks

He had earlier announced the Minister of Finance Agency Ali Shukri for “tomorrow Press” that “the reality of structural followed in government banks allowed to branch managers of neglecting a lot of important aspects of the banking business, as well as the deadly routine because of the long procedures surrounding the review of customers, which makes them prefer private banks on counterpart government. ”

Criticizing at the same time, “the structure of the work of government banks in Baghdad, calling on them to improve their reality to serve the citizens, in particular, that Iraq is waiting for project restructuring the banks to work for the advancement of banking”

While previously confirmed that Prime Minister Nuri al-Maliki during the opening ceremony of Standard Chartered Bank, attended by “Tomorrow’s Press,” that “the entry of international banks sends a message that Iraq is not isolated from the world and represents an important step towards strengthening the interaction between international banks and Iraq.”

Maliki has called for national banking institutions to “take advantage of the advanced expertise that can be provided by the bank and its branches, which will open later in Basra and Erbil.”

The capital Baghdad, began receiving offers and requests by international banks in order to work in Iraqi territory, earning businessmen from all strata of society, not to mention that the presence of these banks in the country is reflected positively on the general situation, as they have a significant role in the renaissance of the construction boom and economic Large make Iraq one of the most important countries of the world and its economy will gain experience which acts by men of foreign banks operating in the country.

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