Iraq cb to issue licences to foreign banks

The central bank of Iraq is to award licences in December allowing a maximum of six banks to operate in Iraq. Central bank deputy Ahmad Salman Mohammed said "Foreign banks will bring in capital, train people, provide jobs, modernise banking services and finance trade, industry and construction."

Source: AFP

Iraq's banking sector is set to transform as foreign players are ushered in for the first time in nearly 40 years, bringing in new products and services, but also competition for the local b