Iraq – Analysts: Abolition of European sanctions on Iraqi banks will provide huge sums

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Baghdad- Iraq 29/09/2018

Economists believe that the exit of Iraqi banks of the European sanctions imposed more than 25 years ago and announced by the European Union recently, will bring significant benefits to the country in terms of commissions that were charged or the transfer mechanism that was conducted through transfer in addition to opening branches of Iraqi banks in European countries. Pointing out that the method of documentary credits provide huge sums for Iraq and employment opportunities for Iraqis. The decision will also allow the international financial banking institutions to deal with the new instructions with the Central Bank of Iraq as today a reliable financial institution dealing with international European institutions.

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