VOL. XXXI
NO. 32
16-MAY-1988
Financial and Banking News
REGIONAL BANKING
Rafidain's Iraqi Banking Monopoly to End after 14 Years
The monopoly of all banking operations in Iraq which the state-owned RafidainBank has enjoyed since 1974 is to end later this year with the creation of asecond state-owned bank, according to an announcement on 12 May by Iraq's Minister of Finance, Mr. Hikmat 'Umar Mukhailif. The new bank is to be called Al-RashidCommercial Bank and will have a capital of ID100mn ($322mn...
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