Saturday, May 28, 2011

Ministry excuses delayed bank openings with other “demanding activities

Ministry excuses delayed bank openings with other “demanding activities” Sulaimaniya, May 28 (AKnews) – “Demanding activities” of the Iraqi Ministry of Finance are the reason for the delayed opening of branches of governmental banks in Kurdistan. The Iraqi government promised last year to open more branches of its own Rashid and al-Rafidain banks in the Kurdish region, which – other than the existing – will be able to offer loans of up to $475,000 (553.6 million Dinars). Fadhil Nabi, deputy minister of finance, said the decision has not been revoked “but its execution may take longer than expected.” Rashid Tahir, the Kurdish deputy minister of finance, argued the government had revoked the decision after more than a year of negotiations between Kurdish and Iraqi ministries. Over 25 private banks operate across Iraq. Rashid, al-Rafidain, Hosing, Agriculture and Industry are the only governmental banks with only Rashid and al-Rafidain having hundreds of branches while the others are less widespread Please any Questions: send to I will get to your questions as soon as possible by personal e-mail, blog post or audio "If you Knew you could not fail, what would you try today?" Phillippians 4:13