***** Governor of the Central Bank of Iraq: the opening of branches of banks of U.S., French and Lebanese in Baghdad

Posted by Iraq News Journal on May 16, 2014

Bey revealed the governor of the Iraqi Central Abdel Basset Turki from near the opening of branches of U.S. banks and the French and Lebanese in Iraq.

Turki said in a special statement (the statement), it will soon be opening branches of U.S. banks, including Pocket Morkn and Citibank, noting that the investment opportunities that would be granted to these banks will not be available in the same way for other banks in Baghdad.

He said the number of Lebanese banks submitted their requests to work in Iraq as the work permit has been granted to three of them as well as requests for French banks.

He said the Central Bank of Iraq has a bill to regulate the work of banks and anti-money laundering as well as the draft of the new law of the Iraqi Central Bank.

He said that Iraq will provide more opportunities for investment

For these banks to exercise its role, noting that the Central Bank of Iraq is a sponsor and an observer of the banks operating in Iraq.

And the project to delete the zeros of the central bank governor said that the new measures will be there by the middle of this year, the bank raised about the new currency and the deletion of zeros, indicating that the bank has a very large mass of cash.

 He added that the Central Bank of Iraq in connection with a credit rating of private banks in Iraq during the next term for the nomination of the first tranche developed for these banks to exercise receive deposits from the government of Iraq and the provision of services to the government, adding that he will then move on to all the Iraqi banking system concerning the acceptance of deposits and credit organization.

He stressed that the bank is keen to be Iraq’s banking system during the first half of the year 2015 completely unprepared to receive all modern services and advanced applications in the banking world

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