International Relations Department-Definition

The role of the Department of International Relations concentrated in support relationships with major financial banking institutions all over the world, and this role is based on the management and expansion of foreign banks and local network of correspondent bank for Kurdistan international bank so as to line with the growth of the bank's activities.

International Relations Unit also has a constantly evolving and maintains financial relations with banks around the world and form these networks of correspondent the basic of all international operations of the bank.

And supports the external presence of the bank number of correspondent Banks around the world , and that gives the Kurdistan Bank access to any corner of the world in order to create and promote and encourage the formation of relationships with international banks to implement all foreign banking operations to the bank's customers , as well as to get more foreign banking facilities to increase business and bank profits as a result of the implementation of the foreign correspondent banking services with banks .

Before Kurdistan International Bank selects correspondents abroad, it studies the financial situation of the bank through the analysis and study of the balance sheet and the income statement during the last three years to know the level of performance of those banks, as well as access to rating issued by an international specialized companies, where it can be dealt with high ratings of banks such as AAA.

The Department of International Relations Department manages the agreements concluded with the correspondent banks , as well as the preparation of monthly reports that include the volume of banking transactions made between the two banks , and reception of representatives of correspondents and setup to visit the Department of Foreign Relations staff to the banks correspondent abroad to discuss with them on mutual banking business volume and negotiate with them to improve the conditions of handling and access to training opportunities for the bank employees abroad and vice versa in coordination with the competent authorities the bank.



In addition to the previous activities This division has the role of management and investment accounts receivable abroad a sequential and, if necessary, invest or lend sums abroad, according to the Bank's management approval and supervision of dealing and real estate room and provide the stakeholders with the bank interest rate according to the global markets daily, after connecting with international markets, taking into consideration the central bank of Iraq instructions.

As well as dealing with foreign currencies buying and selling on the local market prices and the instructions of the Central Bank of Iraq and oversee the Division of market and real estate dealers and the opening of current accounts, savings and foreign currency to customers and provide customers with instruments and to provide daily balances for the investment Division .

The functions and duties of the Department of International Relations

• Create relationships with foreign banks and open accounts and request for mutual facilities for the opening letter of credits and the issuance of bank guarantees and mutual payment orders and acceptance of banking facilities granted bail foreign banks.
• Prepare bulletins signatures of authorized employees of the bank and circulated to all the local banks and bank correspondents abroad.
• Receiving bulletins of authorized signatories from the local banks and correspondents and audited and circulated to the relevant branches of the bank for acceptance.
• The study of the annual reports of the correspondents and provide comments and recommendations to the Board of Directors for their information.
• Save all primitives related to correspondence with the bank correspondents abroad and open directory for each correspondent bank of correspondents on the personal computer includes details and updated information.
• Make special arrangements to open the accounts of all kinds, in our books or in their books with foreign currency or local currency.
• Conduct negotiation processes and the development and diversification of relations with various correspondents and preparation of special invitations to officials arrangements.
• Contribute to draw foreign banking policy.