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At least 15 banks apply to operate in Iraq
Baghdad, Dec 19: HSBC, Standard Chartered and Arab Bank are among at least fifteen foreign banks that have applied to operate in Iraq, a senior Iraq central bank official said on Thursday.
Baghdad, Dec 19: HSBC, Standard Chartered and Arab Bank are among at least fifteen foreign banks that have applied to operate in Iraq, a senior Iraq central bank official said on Thursday.
There are many other banks who are also planning to operate in Iraq.
"Competition is tight. The banks in the process of applying are all leading international names. They will be short listed in the next few weeks," the official, who declined to be identified, said.
The central bank has invited international banks to bid for six five year licenses. Each foreign bank making a bid has to pledge to have minimum capital in Iraq of USD 25 million.
Bureau Report
"Competition is tight. The banks in the process of applying are all leading international names. They will be short listed in the next few weeks," the official, who declined to be identified, said.
The central bank has invited international banks to bid for six five year licenses. Each foreign bank making a bid has to pledge to have minimum capital in Iraq of USD 25 million.
Bureau Report