Erbil, Kurdistan (KRG.org) – Kurdistan Regional Government (KRG) Prime Minister Nechirvan Barzani welcomed the British international bank Standard Chartered to Kurdistan today at the inauguration ceremony of its Erbil branch.

Mr. Barzani outlined the need for an improved banking sector in Kurdistan. He said, “I believe the time has come for us to seriously examine international financial practices and carefully consider how modern banking can help families and businesses to manage their wealth.” He added, “I have no doubt that the presence of Standard Chartered will help us move forward in this regard.”

Mr. V. Shankar, the Standard Chartered CEO for Europe, the Middle East, Africa and the Americas, said the company comes “with glitter in our eyes” and stated his optimism for the bank’s activity in the Region.

Britain’s Consul General, Mr. Hugh Evans, underlined the United Kingdom’s confidence in its mutually beneficial relationship with the Kurdistan Region, applauding KRG policy and supporting the decision by Standard Chartered to commence operations in Kurdistan. Mr. Gavin Wishart, CEO of Standard Chartered in Iraq, also spoke on behalf of the bank.