Two western banks withdraw their staff from Iraq

and withdraw its senior staff amid growing security concerns.

 “Standard Chartered bank which opened two branches in Baghdad and Erbil has transferred its work in Iraq to Dubai,” Sky News" Arab news station said in news seen by "Shafaq News”.

The bank opened branches in Iraq to take advantage of large infrastructure projects in the country, which is trying to rebuild itself after long years of wars, especially in the wake of rapid economic growth, thanks to the growth of Iraq's oil production.

 "Citigroup" bank representative has transferred its office in Baghdad to the Jordanian capital Amman, as advised by international companies process to reduce the level of cash to keep to the minimum, according to "Financial Times" British newspaper.

Although the Islamic State of Iraq and Levant “ISIL” organization extended its control over large areas of Iraq, especially the western provinces of it, but the workers in the banking industry say that banks in Mosul city are still working as usual, as international lenders continue to offer their services for multinational companies in Iraq, pointing to the that business is going normally.

The sources said that ISIL organization has tightened its grip on 450 million dollars and the gold stocks in the Iraqi Central Bank in Mosul last month, when they take control of the city, located north-west of Iraq, the banks and employees in the banking sector say that they want to be prepared in case of deteriorating conditions.

Other banks have withdrawn from the Iraqi market before the outbreak of the recent crisis in Iraq, such as "HSBC", bank as it cut its relationship with Bank of Dar al-Salam Investment bank , by suspending its relationship banking with Bank of Iraq, which has 70 percent of its shares.