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Iraqi banks expanding their activities in Kurdistan
6.8.2007
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August 6, 2007
Sulaimaniyah, Kurdistan region (Iraq), -- The
chief executive officer of the International Ashur
Investment Bank, Wadee Hanzal, has disclosed that a
group of Iraqi banks have strengthened their
presence in Kurdistan autonomous region over the
past two years and are now expanding their
activities.
The banks have undertaken new strategies to benefit
from a recent programme by Kurdistan's officials to
undertake steps for the growth of investment
activity especially in the fields of currency
exchange, trade and transportation.
Hanzal explained that more than eight local Iraqi
banks, with a capital of more than two hundred and
fifty billion Iraqi dinars ($200 million) are
betting on the stability in the Kurdistan region and
the support provided by its authorities for the
investment sectors to help them carry out their
building and reconstruction programs.
Hanzal drew attention to the Iraqi banks that are
strengthening their presence in the region by
opening branches at the marketing and commercial
outlets and are working hard to secure new capital
that will help utilise the available investment
opportunities in various fields.
He stresses the keen interest of a board specialized
in administering investment in Kurdistan region for
providing consultation and backing in order to
activate the investment activity.
Kurdistan region has enjoyed security and stability
since 1991 and signs of development and
reconstructing progress are clearly visible,
offering limitless opportunities to investors and
businessmen.
Noozz com
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