* Ministry: ‘demanding activities’ to blame for delayed bank openings
MAY 28, 2011
URL: http://theiraqidinar.com/2011/05/28/ministry-demanding-activities-to-blame-for-delayed-bank-openings/
Sulaimaniya, May 28 (AKnews) – The “Demanding activities” of the Iraqi Ministry of Finance are the reason for the delayed opening of branches of governmental banks in Kurdistan, it was claimed today.
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Fadhil Nabi, deputy minister of finance, said the decision has not been revoked “but its execution may take longer than expected.”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
MAY 28, 2011
URL: http://theiraqidinar.com/2011/05/28/ministry-demanding-activities-to-blame-for-delayed-bank-openings/
Sulaimaniya, May 28 (AKnews) – The “Demanding activities” of the Iraqi Ministry of Finance are the reason for the delayed opening of branches of governmental banks in Kurdistan, it was claimed today.
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Fadhil Nabi, deputy minister of finance, said the decision has not been revoked “but its execution may take longer than expected.”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