VOL. XLVII

No 19

10-May-2004

IRAQ RECONSTRUCTION

Iraq Requests Applications For Foreign Bank Permits/Licenses

The Central Bank of Iraq (CBI) has issued a request for applications from foreign banks seeking permits or licenses to operate in Iraq. A foreign banking license will provide the foreign bank with authorization to operate in Iraq via the acquisition of more than 50% of an existing Iraqi bank, or the establishment of a Green Field or de novo subsidiary of the foreign bank in Iraq, according...