Banking firms & Financial companies to be convert into Banks: Central bank

1_1Our authentic and reliable official source from the Iraqi Central Bank has confirmed that Central Bank has planned to shift a number of banking firms and financial companies into banks after meeting criteria and requirements in order to prevent for dealing with outlets to sell the U.S dollars. The source further indicated that Iraqi Central Bank has issued a number of approvals to convert many financial companies and banking firms according to the requirements and eligibility.

The source preferred not to mention his name and added that Iraqi Central Bank has planned to impose new conditions on these banks and they will not be able to deal outlets selling the U.S dollars. He also pointed out that these banks will be directed specifically to manage deposits, loans and other essential banking tasks. Point to be noted that Iraqi Prime Minister Haider Al-Abadi dismissed six heads including Rasheed Bank, Rafidain Bank and agricultural managers. The Iraqi Parliamentary Legal Committee also said earlier that the termination of the heads of these banks will not provide relief of legal liability. The Iraqi Parliamentary Finance Committee said that dismissal of six managers of governmental banks has been considered a part of administrative reforms.

Share This Post

Recent Articles

· Designed by RF