Central Bank decides to grant licenses to foreign banks that would like to open branches in Iraq

21 August, 2012 11:29:00

Central Bank decides to grant licenses to foreign banks that would like to open branches in Iraq

Deputy Governor of the Central Bank of the appearance of Mohammed, said the bank had decided to grant licenses to foreign banks that want to open branches in Iraq.

Mohammed said in a press statement that the law of Iraqi banks No. 94 of 2004 allows granting licenses not only domestic banks but allow for the opening of branches of foreign banks, adding that "the Central Bank granted 14 licenses to open branches of foreign banks in Iraq since 2005 to 2012, provided that recorded those foreign banks names of Iraqi banking companies. "

And that "foreign banks have high financial level and improved use of banking instruments well, noting that the Iraqi public prefers dealing profit and not pay interest, which would give these foreign banks clear economic deal.


http://translate.google.com/translate?sl=ar&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.alfayhaa.tv%2Fnews%2Feconomy%2F86963.html