Kurdistan: The Steps For Establishing The National Bank Have Reached Their Final Stages

Information/Baghdad… The Kurdistan Regional Government announced, on Friday, that the steps to establish the National Bank have reached its final stages, and most of the work related to this project has been completed.

The Director-General of Commercial Banks in the Region, Maulud Saber, said in an interview published on the official website of the Government of Kurdistan today, that “the National Bank is a government bank that was established at the request of the President of the Kurdistan Regional Government in cooperation with the Minister of Finance and Economy in the same government,” noting that “this bank seeks to To regulate government banks and commercial banks, which currently number 94, and is working to reorganize all departments in government banks.

He explained that “the bank also seeks to end the traditional banking procedures that are currently applied in banks, and to be a modern bank alongside other banks such as Al-Ahlia, and those banks linked to the electronic system, in addition to many other purposes,” stressing, “We want to reorganize our employees, And doing work that will be the basis for the Kurdistan Regional Government.”

Saber added that “the capital of that bank amounts to 250 billion Iraqi dinars, and 25 billion of that amount was deposited in cash in the special account of the Central Bank of Iraq, the Kurdistan Region branch, and 225 billion in commercial banks.”

The Director-General of the commercial banks in the region continued, “Fortunately, all the procedures for establishing the bank have been completed,” noting that “this means that we have completed all the capital, and the Kurdistan Regional Council of Ministers has sent an official letter to the Central Bank of Iraq to take the necessary measures to complete this.” The bank, because all the bank’s funds, amounting to 250 billion dinars, have been completed.” finished/25

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