Security and the lack of a functioning government is affecting
all sectors within Iraq including the banking industry. The U.S.
State Department is bringing in 15 U.S. companies to Iraq in an
attempt to obtain business contracts and partnerships in Iraq.
Article from iraq-businessnews.com web site.
Lending still anemic at foreign-invested banks
Lending still anemic at foreign-invested banks Last month,
Central Bank of Iraq governor Al-Shibibi told AFP he was hoping
foreign banks would play a bigger role in developing Iraq’s
financial system. From the banks’ point of view, he said, “the
prospects are good, except for security.”
But the foreign institutions that have already entered the Iraqi
market through investments in local banks don’t yet seem to be
finding all that many good opportunities to grow their lending
businesses. In fact, their loan-deposit ratios tend to be even
lower than those of their wholly locally owned counterparts.
Sign up and join the mailing list. The sign up form on the
web page. Thanks.