AKnews quotes a source at 'Esh Bank' [Is Bankasi] as saying that the Iraqi Central bank has granted a license to the Turkish group to open branches in the Iraqi capital and the capital of the Iraqi-Kurdistan region.
The source, who declined to be named, told the agency that the Turkish bank is now awaiting official approval from the Kurdish authorities before work begins on the Erbil branch.
"We will recruit staff locally for the Erbil office,” said the source, “and a number of employees will be brought in from Turkey.”
Economic relations between Turkey and Iraq have developed significantly in recent years. In 2010 Iraq was listed as the biggest importer of Turkish goods and services.