27 Oct 2017
The Central Bank of Iraq is establishing a commercial finance bank for the private sector, with the participation of both official and civil banks.
A source familiar with the prime minister said in a press statement: "The Central Bank of Iraq is currently a project involving the reconstruction of a foreign trade finance institution related to the private sector, the establishment of the so-called (the bank aggregate)."
He explained: "This project involves all banks, whether governmental or private, which is similar to the Iraqi Bank for Trade (TBI), but it finances the trade exchange of the private sector."
The source added: "The subject is currently under study by the official authorities with the concerned, and is an advanced stage in the private sector trade and contributes to controlling the levels of currency."