Group items tagged

The central bank of Iraq is doing its best to modernize the banking system in Iraq so that it may support international trade. The central bank of Iraq after the meeting of board of directors granted the permission to the money transfer companies to open bank accounts in the Iraqi and other international banks to directly transfer money anywhere in the world.

Experts: Transfer Companies Entry in CBI Auction Can Trigger Dollar Smuggling Central bank of Iraq signed a contract with money exchanger companies to take part in the auction sales at central bank of Iraq. The purpose is to expand the auction of dollars at central bank.

Many foreign banks are already operating in the country and number of new banks is applying for new branches on daily basis. Recently two Lebanon banks applied for new branches in Iraq and the procedure is under operation. Central bank of Iraq is trying to enhance the banking activities in the country that's why third party contract is made with different money transfer companies for the expansion of dollar trade in the country.

The process of ownership of the land to the owners is being done. The city of Nasiriyah is being given out to the owners after the completion of the necessary paper work. The city had been disturbed due to the security conditions of the country and because of war the people had to move to other areas. Now things have settled in the area and the people are being transferred back through a proper channel.