Iraq aims to increase foreign bank entry

Iraq's central bank governor said on Monday 26 April that he is recommending removing limits to the number of foreign banks that can operate in Iraq.

Iraqi law currently caps outside financial institutions at six, but Central Bank Governor Sinan al-Shabibi said strong outside interest warrants letting more banks into the country.

"Removing the cap will accelerate the entrance of foreign banks into this market," al-Shabibi said.

Al-Shabibi said Iraq had issued banking licenses to HSBC Group and t

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