500% Increase in Rasheed Bank Capital

Rasheed BankIraqi Dinar 123 News:– The General Secretariat of the Council of Ministers announced that they are approving the capital of Rasheed Bank of Iraq from 50 billion dinar to 250 billion according to company Act 22 of 1997. The bank received massive investment from foreign investors in the country in last one year. It shows that foreign investors are investing in the country and their number is increasing every single day in the country. Central bank of Iraq said the increase in capital of Rasheed Bank will enhance its banking operations in country.

Central bank of Iraq appreciated this increase in the capital of Rasheed Bank and said it will help bank to make its banking services according to international standards. The central bank of Iraq is looking to implement an international standard of banking services that will enhance its standard among foreign investors in the world. A banking infrastructure is always helpful for international companies in their business operations. Therefore it is badly needed that there must be a better banking structure in Iraq to follow the international standards. This will enhance the business operations in the country and it will also represent a positive image of Iraq to the foreign investors.

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