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Monday, August 4, 2014

IRAQI DINAR 123 NEWS: CBI NEW PROGRAM TO ADOPT INTERNATIONAL BANKING STANDARDS, 4 AUGUST

Iraqi Dinar 123 News:- CBI is radical steps to improve banking system of Iraq so that it may satisfy its local and international customers. The aim is to adopt international standards in banking sector of Iraq. According to new banking strategy, central bank of Iraq allowed foreign banks to open as many branches as they can in the different major cities of Iraq. Before this foreign banks were allowed a limited access for their business expansion programs. Iraq is known with the hard rules in the international market for foreign investments.
Looking this, the chairman of the board along with the governor of central bank of Iraq decided to soften the rules and regulation for foreign investors to invest in the country. This may help the economy of Iraq in the present situation when hundreds of foreign investors are withdrawing their investments from country. The central bank of Iraq is fully confident that it will enhance the banking activities in the country and it will also attract some foreign banks to open new branches in the country. We cannot say that how well this strategy will be because the things have been changed a lot in the country due to the security situation of Iraq.

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