Minister of Industry and Minerals Engineer Mohamed Xiaa Sudanese urged to increase banking cooperation between Iraq and the UAE to take advantage of the large banking expertise.
Areas of cooperation in the banking field between the two countries and the problems related to this field for Iraqi businessmen and other matters and related topics, pointing out that the notes installed a set in the light of the discussions that took place and included in the minutes for the purpose of official correspondence and requirements in order to prepare maturation, indicating that this trend needs many requirements and decisions and business facilities and Monetary policy, which is an important part of this trend, calling on the UAE side to provide facilities and support to push the trend and enter into economic partnership contribute to the development of relations.
For his part the Governor of the UAE Central Bank is ready to provide all means of support and assistance, noting the importance of identifying the existing problems to develop a plan and mechanisms to resolve them, stressing that the door is open for cooperation and consolidation of relations between the two brotherly countries.
Emphasis was placed on the transfer of the UAE successful experience and benefit from the good experiences for the purpose of establishing industrial cities in Iraq, similar to the industrial cities in the UAE and facilitate the export of goods, Iraqi exports of raw materials and semi – finished and find markets.
President of the Iraqi Economic Council Ibrahim al- Baghdadi al – Masoudi said that the UAE has become the most important financial center in the region after the merger of banks in recent years and most recently was the merger between the two giants Abu Dhabi National and First Gulf banks.
We nevertheless did not see any weight for banks UAE in Iraq, we hope to see broad participation of banks and take advantage of the promising investment opportunities in Iraq, we hope to increase cooperation between the government and private banks in the opening credits, indicating that there is difficulty in opening accounts.