Central Bank announces controls the opening of branches of foreign banks

Ali Abdullah - 08/27/2012 - 6:57 pm | Readers: 16


Central Bank of Iraq controls the opening of branches of foreign banks in the country.

The deputy governor of the Central Bank of Iraq the appearance of Mohammed Saleh in a press statement that "the bank who wishes to open a branch in Iraq must have made a profit over the past three years with the support of the monetary authorities in the country that there is no suspicion with regard to money laundering."

He explained that "follows the international standards and has a global bank credit and submit a study technical and economic feasibility and has the money to be for less than $ 7 million."

The central bank is an independent body to regulate the banking sector to promote a competitive financial system and independently between government and private banks and foreign.


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