Central Bank: international presence of foreign bank of the important conditions for granting a license to practice the profession

Date: 26/08/2012 13:26:35 Sunday



Baghdad (news) .. CBI stressed that he receives license requests by Arab and foreign banks to carry out its operations in Iraq, according to the provisions of the Banking Act.
A statement from the Directorate General to monitor the banking and credit the Central Bank received Agency (news) copy of it on Sunday: The requirements for obtaining a license from the Bank to work in Iraq includes identifying name of the bank and the ownership structure and the total capital and classifications credit and have practiced banking operations current or future for at least three years and be subject to the oversight of a comprehensive and unified by the banking supervisory authority in his native country.

He added: It is the adoption of international presence of the bank and which is intended to number of branches or offices around the world, pointing to claim the Central Bank of the foreign bank action plan that includes projections for three fiscal years in addition to providing strategies of risk management and credit include a brief resume of credit policies and procedures as well lending strategies for Iraq, Does the strategy include both commercial lending products and retail lending products, are also demanding a summary plan for staff training Iraqis. /


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