International banks and prospects for the advancement of Iraqi banking

by **claud39** Tue Mar 23, 2021 2:04 pm

Sunday 21st March 2021

International banks and prospects for the advancement of Iraqi banking Alsabaah-70787

Baghdad: Morning

The consolidation of the Iraqi banking system’s cooperation with major international financial institutions indicates that the work of the Iraqi financial sector is moving in a direction consistent with the trends.

International.

A financial sector expert and former director general of operations at the Central Bank of Iraq, Mahmoud Dagher, stated that "the patterns of financial management in Iraq indicated a clear improvement, and that the success of the financial sector can be diagnosed through joint cooperation between international financial organizations and major global banks."

International borrowing

Dagher stressed "the necessity of directing international borrowing towards strategic productive and investment projects that achieve sustainable benefit for the local economy, especially since Iraq is one of the rich countries that can achieve a rapid economic recovery, when the appropriate atmosphere is available."

The best products

Stressing that the plans to develop financial performance represent the direction of the banking system in the country, as competition is most intense among all banks in order to provide the best products that attract the customer, and this is a health condition that reinforces the reality of local banks and the financial sector.

Expansion plans

On the other hand, an expert on financial affairs, Muhammad Jaber, stated that “the banking system cannot work without ambitious horizontal expansion plans that achieve benefits for the largest segment of customers. 10 thousand people »

Investment and financing

Pointing out to «the importance of creating an environment that prepares the banking system’s orientation to enter into the fields of investment and financing for projects after careful economic study by specialized committees and then adopting the appropriate decision for this matter. It is also imperative to develop banking products, which must be the main concern of all Banks without exception »

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