110 billion dinars capital postal bank and the central bank begins to procedures established

Author: ASJ, NS
Editor: NS

01/04/2017 11:10


Long-Presse / Baghdad
An informed source at the Central Bank of Iraq, on Wednesday, the capital of the Postal Bank to the Ministry of Communications would be about 110 billion dinars, as he emphasized that the central bank began the procedures established effectively.

The source said in an interview with (long-Presse), "The Ministry of Communications has applied to the Central Bank of its desire to establish a bank of imports of mail in the General Company for Post and savings service," stressing that "the Central Bank of Iraq agreed to the request submitted by the Ministry of Communications" .

The source, who asked not to be named, said: "bank capital at the moment of 110 billion dinars, which is well capitalized at the moment," noting that "the bank will be treated as government banks in the various accredited banking activities in the Central Bank."

The source continued, that "the central bank began to start the procedures the bank and it is hoped to be completed during the current year," expected to "contribute to the bank to increase imports of the ministry, which now operates self-funding."

The Ministry of Communications revealed on Tuesday (27 December 2016), its intention to establish a postal bank in collaboration with the Central Bank of Iraq, as pointed out that steps are underway to complete the project.

The banking system in Iraq consists of 55 banks as well as the Central Bank and distributed by ownership between 7 state banks and 23 commercial banks, including special (10) Islamic banks in addition to the 15 branches of foreign banks.

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