Hamdiya dry: We seek to raise the capital of the Bank (TPI) trillion dinars and to increase its branches internally and externally

[Flyers1]

Baghdad, December 9 (Rn) – confirms the Director General and Chairman of the Board of Trade Bank of Iraq the (TPI) Hamdiya Mahmoud dry that its bank is not under any political pressure, saying in his interview with the correspondent of the News Agency of Kurdistan (Rn), to seek coordination with stakeholders to double the capital of the bank (500) trillion dinars in order to broaden the base of his dealings as well as increase the number of branches internally and externally in accordance with the priorities of the investment.

* Any entity subject to the Trade Bank of Iraq and any law regulating the work, and what are his duties?.

- Trade Bank of Iraq is a bank established in 2003, according to its law No. 20 of the CPA dissolved at the time, and on his law, he has the Board of Directors, and today is the third-highest executive authority in the country, the prime minister of Iraq, the goal of establishing the bank is to be the interface of Iraq’s financial direction abroad, including transactions for the Iraqi state with the outside world because the Rafidain and Rasheed, and the two problems of international debt, and a short period of work of the bank has achieved significant goals is the bank is the first in oil transactions for the Middle East.

* How much is the bank’s capital and whether the current is sufficient to cover its activities?

- Capital Bank of Iraq trade is 500 billion Iraqi dinars, and the percentage of profits the bank in a steady increase each year, and the bank wide network of correspondents in foreign banks, certainly the amount is not enough, we are seeking to raise the amount to the trillion dinars have been approaching the concerned authorities to increase capital Money still talks continued.

* What is the number of bank branches in Iraq, do you have the intention to increase the number of branches at home and abroad?.

- The Bank’s 14 branches in Iraq, Sulaymaniyah, and Erbil, and Anbar, Basra, Dhi Qar, and Salah al-Din, Najaf, Karbala, and Baghdad airport, and the rest of the branches spread across the capital, and these branches from our point of view is not sufficient and it is not ambitious, we currently have approvals from the central bank to increase the number of branches on the basis that at least for each province branch and this is according to the priorities of the size of investment business in the provinces, and were approaching the Lebanese side to open a branch of the bank and there are still measures with the Central Bank of Lebanon, and there is also the intention to open a bank in Turkey due to increased trade.

- Are there political interference in the work of the bank or pressure from certain quarters, whether in Baghdad or the provinces?.

- A bank is a financial institution independent of any political bickering, and any political interference or non-government Matqtadhah laws in force, in the absence of any political pressure in his work.

* What types of loans given to investors and what is the mechanism that adopting here in that?

- There are two types of loans granted by the Trade Bank of Iraq is a short-term up to a year, medium term up to four years, and this also depends on the projects, and is the granting of loans and funding the project provided that the safeguards required by companies and investors, and change management of the bank the previous the result of a state of semi-administrative chaos in the bank through the granting of financial loans without collateral so it was on the bank financial obligations, or loans in amounts not significant, and the current policy that the loans were approved on the basis of guarantees which the bank can recover his money easily.

* How do you assess the reality of investment and what are the obstacles faced by the Trade Bank of Iraq?.

- Generally there must be an opportunity to enter the banks in the investment process, today in Iraq, the economy unilaterally depends directly on the oil, so it must be activated other sectors, agricultural, industrial, and through the promotion of sectors will be the bank supporting the rehabilitation of those sectors and therefore will increase an area of ​​work.

The dry running Hamdiya consultant Rafidain Bank government, and recently commissioned commercial bank management agency after fleeing the former director Hussein Uzri to Lebanon after being accused of wrongdoing and said that it asked the time Iraq, lots of money.

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[FrankenSLI]

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