Iraqi Banks Must Increase Capital This Month

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The deputy governor of the Iraqi Central Bank (ICB), Muzher Mohammed Saleh, has set a deadline for all banks in Iraq to increase their capital to at least 250bn IQD ($215m).
He said: “We asked all banks in Iraq to increase their capital this month to strengthen their dealings and give more loans.”
According to the report from AKnews, there are more than 50 banks in Iraq, with more than 800 branches spread across the provinces, a figure that is considered low compared to the size of the population.
(Source: AKnews)