08.26.2012
Baghdad (news) said the CBI that he receives requests license by Arab and foreign banks to exercise their work in Iraq in accordance with the provisions of the Banking Act. According to a statement of the General Directorate to monitor the banking and credit the Central Bank received Agency (news) copy of it on Sunday:
The conditions for obtaining the license of the bank to work in Iraq includes identifying name of the bank and the ownership structure and the total capital and classifications credit and have practiced banking operations present or future for three years in the least, and be subject to the control of a comprehensive and unified by the power of banking supervision in his motherland.
added: he is adopting international presence of the bank and which is intended to number of branches or offices around the world, pointing to claim the Central Bank of the foreign bank action plan that includes projections for three fiscal years in addition to providing strategies of risk management and credit include a brief resume of credit policies and procedures in addition to strategies lending Iraq, Does the strategy include both commercial lending products and retail lending products, are also demanding a summary plan for staff training Iraqis.
