Central banks raise foreign capital to $ 50 million
20 June 2016
~ Follow-up - My Day
A source in the Iraqi Central Bank, the Bank decided to raise the foreign banks 'capital to $ 50 million on Mrahlten.oukal source in a press statement that "the Iraqi Central Bank decided to raise the foreign banks' capital to $ 50 million in two phases," noting that "stage the first includes a capital raising to $ 25 million during the period lasts until 31 December 2016. "He added the source, who asked not to be named, said:" the second phase is to raise capital to $ 50 million during the year as well, that is, until the 31 December the first in 2017, "adding that" the decision to raise $ 50 million instead of $ 70 million, came after meetings between the Iraqi Central Bank Governor Ali Mohsen Keywords and a delegation of Lebanese banks visited Iraq several times in the past three months. " The source continued, "The capital increase will allow the banks to open 15 branches in the Iraqi market," explaining that "the minimum capital exact money to open a foreign bank in Iraq was $ 7 million, but the central bank found that the advancement of the banking sector requires the lifting of foreign banks' capital , in a position to work in the Iraqi market. " As a source in the Iraqi Central Bank, the granting of Directors of the Bank approved the return of the bank to open a branch chief in the capital Baghdad, while noting granted preliminary approvals on opening another four branches. The source said in my statement, "The central bank has agreed to open a branch of Bank Audi in the capital, Baghdad, to be a branch president." The source, who asked not to be named, said: "The central bank has also agreed in principle to the bank's plan to open branches in Najaf, Erbil and Basra and Salahaddin." Bank Audi and works in the provision of banking services by more than eight countries, particularly Lebanon, Egypt, Turkey, Switzerland, Saudi Arabia, France, Jordan, and Syria. The bank's assets rose in the past seven years, according to his official from $ 20.39 billion at the end of 2008 to 42.27 billion at the end of last year.