NO. 5


Financial and Banking News

Regional Banking

Central Bank of Iraq Approves another Private Bank

The Central Bank of Iraq on 27 October approved the establishment of a newprivately-owned bank with a capital of ID150mn ($450mn), to be known as theIraqi Commercial Bank. The bank's founding committee, which has alreadysubscribed to 51% of the capital, will shortly offer the remaining 49% of theshares for public subscription. The new bank will engage in the usual banking...