NO. 45


Financial and Banking News

Regional Banking

Iraq Replaces Senior Banking Officials, Opens Way to Privately Owned Banks

Mr. Tariq al-Tukmachi has replaced Mr. Subhi Frankul as governor of theCentral Bank of Iraq, according to a report published in July in the officialIraqi magazine Alif Ba. Mr. Tukmachi, who is a former President of RafidainBank, was most recently deputy governor of the Central Bank. The heads of Iraq'stwo commercial banks, Rafidain and Rashid have...