Iraqi Banks Urged to Merge

Abdul Hussein Al-Anbuge, an Iraqi government economic adviser, has urged the country’s private lenders to merge in order to strengthen their capital and provide stronger support to the banking sector, AK News has reported.

The total capital of Iraqi private banks rose from $30m in 2004 to $1.6bn now, not including what is owned by branches of foreign banks operating in the country.

(Source: AKnews)

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2 Responses to Iraqi Banks Urged to Merge

  1. Lynne Mattner February 10, 2011 at 7:27 am #

    My question is as follows. Will there be a reinstate or revalue of the Iraqi dinar anytime soon? Thank you

  2. LZ February 15, 2011 at 3:03 pm #

    Depends on which pumper you trust…OKIE OIL MAN, Frank 26, medic , mailman, breisling…..