Open two branches of the Central Bank in Kurdistan

November 8, 2016



Network Iraqi position

Council of the Iraqi Central Bank administration decided to open two branches for him to manage its activities and functions in the province of Kurdistan, in turn praised the officials in the region are on the move for the bank.

The bank said in a press release on Tuesday, said that "a delegation from the Central Bank visited the region and met with officials there to discuss opening branches arrangements, where said members of the delegation Bank tasks supervisory role in price stability and development, and the need to open branches to exercise the role of the central bank and its functions."

The bank said, "The officials in the province, praised the initiative and instructed to meet its requirements, making it easier for the central bank to engage his duties there."

It is said that the central bank had earlier announced the opening of a branch in the Middle Euphrates region based in the province of Najaf.

And it established the Central Bank of Iraq in 1947 by a Royal Decree in the monarchy, and was formerly called as the National Bank of Iraq, while re-established after the year 2003 on the basis of the Iraqi Central Bank Act of 2004, with an authorized capital of 100 billion dinars, and is the head office of the bank in Rashid Street in Baghdad, the Central Bank is responsible for maintaining monetary stability and prevent inflation, the implementation of monetary policy, including exchange rate policies, and management of the state's foreign exchange reserves and the issuance of currency management, and regulate the banking sector to promote a competitive financial system is stable.


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