The Saudi-Iraqi relations have entered a new phase of financial cooperation after allowing the Commercial Bank of Iraq to open a branch in the Kingdom, in a step described by a Saudi official as strengthening the Iraqi financial structure and contributing to the stability of prices in the current geopolitical situation. From Canada, Australia and Singapore.
"The approval of the Iraqi Commercial Bank's license to open a branch in the Kingdom would be beneficial to the State of Iraq, the Iraqi Bank and the Saudi banking sector," said Talaat Hafez, secretary-general of the Committee for Information and Banking Awareness, and the spokesman for Saudi banks.
Hafiz added that the bank's entry into the Saudi market will achieve several positive advantages for the Iraqi banking system in the first place. The Saudi banking environment is considered one of the best banking environments at the Arab, regional and international levels in terms of strength, Banking Payment Systems.
He pointed out that the classification of Fitch International, that the Saudi banking sector is the fourth best banking system in the world, after Canada, Australia and Singapore, means that the Iraqi banking system through the presence of the Bank of Iraq's commercial banking in the Saudi market, will benefit from a banking financial environment enjoys With the advantages of this phase of globalization.
Hafez expected that the Iraqi banking system will benefit through the existence of this bank in a safe and strong banking environment in the Kingdom, to create a state of stability in the Iraqi financial and banking market, in addition to benefiting from the manpower, purchasing and consumerism, which is more than 32 million people, A vast geographical area, and the delivery of its services in the future, to different parts of the Kingdom.
Hafez explained that the emergence of Iraqi banking in the Saudi market represents one of the fruits of political understanding between the leaders of the two countries, which strengthens relations, and strengthens the comprehensive strategic partnerships between Riyadh and Baghdad, as well as its contribution to improving the level of awareness and quality, which will contribute in one way or another to the stability of the banking system and the price Drainage and counteracting its oscillations, resulting from turbulence in the region.
Hafez pointed out that there are currently 26 licenses for banks operating in the Kingdom market, of which 12 are Saudi banks, and the rest are non-Saudi banks. Thus, the existence of the Commercial Bank of Iraq, beside these banks, provides a range of options from banks in terms of providing the best service to the client from this package Of banks in terms of prices, services and products.
An Iraqi ministerial delegation headed to Saudi Arabia on Wednesday to discuss the possibility of supplying electricity.
Planning Minister Salman al-Jumaili said in a statement to the Iraqi Ministry of Planning that he would head a delegation heading to the Saudi city of Jeddah today, including oil ministers Jabbar Luaibi, electricity Qassem al-Fahdawi and transport Kazem al-Hamami.
He explained that «the Iraqi delegation will discuss with the Saudi side a number of issues and important files within the framework of the Iraqi Iraqi Coordination Council».
He pointed out that «the energy file, which includes electricity and fuel, will be one of the most important
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"The approval of the Iraqi Commercial Bank's license to open a branch in the Kingdom would be beneficial to the State of Iraq, the Iraqi Bank and the Saudi banking sector," said Talaat Hafez, secretary-general of the Committee for Information and Banking Awareness, and the spokesman for Saudi banks.
Hafiz added that the bank's entry into the Saudi market will achieve several positive advantages for the Iraqi banking system in the first place. The Saudi banking environment is considered one of the best banking environments at the Arab, regional and international levels in terms of strength, Banking Payment Systems.
He pointed out that the classification of Fitch International, that the Saudi banking sector is the fourth best banking system in the world, after Canada, Australia and Singapore, means that the Iraqi banking system through the presence of the Bank of Iraq's commercial banking in the Saudi market, will benefit from a banking financial environment enjoys With the advantages of this phase of globalization.
Hafez expected that the Iraqi banking system will benefit through the existence of this bank in a safe and strong banking environment in the Kingdom, to create a state of stability in the Iraqi financial and banking market, in addition to benefiting from the manpower, purchasing and consumerism, which is more than 32 million people, A vast geographical area, and the delivery of its services in the future, to different parts of the Kingdom.
Hafez explained that the emergence of Iraqi banking in the Saudi market represents one of the fruits of political understanding between the leaders of the two countries, which strengthens relations, and strengthens the comprehensive strategic partnerships between Riyadh and Baghdad, as well as its contribution to improving the level of awareness and quality, which will contribute in one way or another to the stability of the banking system and the price Drainage and counteracting its oscillations, resulting from turbulence in the region.
Hafez pointed out that there are currently 26 licenses for banks operating in the Kingdom market, of which 12 are Saudi banks, and the rest are non-Saudi banks. Thus, the existence of the Commercial Bank of Iraq, beside these banks, provides a range of options from banks in terms of providing the best service to the client from this package Of banks in terms of prices, services and products.
An Iraqi ministerial delegation headed to Saudi Arabia on Wednesday to discuss the possibility of supplying electricity.
Planning Minister Salman al-Jumaili said in a statement to the Iraqi Ministry of Planning that he would head a delegation heading to the Saudi city of Jeddah today, including oil ministers Jabbar Luaibi, electricity Qassem al-Fahdawi and transport Kazem al-Hamami.
He explained that «the Iraqi delegation will discuss with the Saudi side a number of issues and important files within the framework of the Iraqi Iraqi Coordination Council».
He pointed out that «the energy file, which includes electricity and fuel, will be one of the most important
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