Iraq calls Lebanese bank to open branch in Baghdad

Iraq calls Lebanese bank to open branch in Baghdad
Saturday, March 27th 2010 7:35 AM



Baghdad, March 27 (AKnews) - Iraq Central Bank called Lebanese Banks: Byblos Bank and Intercontinental Bank who have branches in Kurdistan as well as Bank of Beirut and Arab World which has a branch in Al Najaf to open branches in Baghdad.

The importance such a step has regarding boosting the participation of Lebanese Banks in increasing their activities in Baghdad.

The Lebanese Banks intend to increase their banking efficiency in order to get the needed facilities and to talk over with the competent parties in order to fasten the pace of opening branches all over Iraq.
Ma/gs AKnews

May 16, 2003 CopyrightCopyright 2009 The Associated Press.

Dateline: BEIRUT, Lebanon Lebanon's Central Bank has frozen millions of dollars in Iraqi funds, but it will return them to Iraq only after a "legitimate" government is formed, the bank's governor said in a statement published Friday.

Governor Riyadh Salameh did not disclose the amount of funds, but a U.S. Treasury official said Wednesday that Lebanon's Central Bank had located and secured $495 million in Iraqi funds.

The Treasury official, David Aufhauser, said the Lebanese move was a sign of progress in the worldwide search for the billions of dollars that ousted Iraqi President Saddam Hussein is thought to have hidden away.




This is an old article that I thought was interesting considering the timing of the article I posted above