By Nadim Kawach, for Arabian Gulf Business Insight (AGBI). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News.
Path Set for Iraqi Banks to Rejoin Global Finance System
The Central Bank of Iraq (CBI) has announced it has secured an agreement under which seven restricted Iraqi banks would be reintegrated into the US dollar system. The announcement coincided with a visit to Washington by prime minister Ali Al-Zaidi, a major shareholder in one of these banks.
The deal with the US Treasury Department came as the CBI pushed ahead with restructuring Iraq's ailing banking sector, which has been hit by allegations of widespread laundering and terror funding.
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