Iraq Banks
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Under the promulgated Iraq Banking Law and the Central Bank of Iraq Law Private Banks may elect to sell a portion or all of their equity to domestic or foreign investors, once having received the approval of the Central Bank of Iraq which has the exclusive right to grant banking licenses and regulate all banks in Federal Iraq.
1. unconfirmed and sight 15% deposit 2. unconfirmed and deferred 25% deposit 3. confirmed and sight 25% deposit 4. confirmed and deferred 50% deposit
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The primary objectives of the Central Bank of Iraq (CBI) is to ensure domestic price stability and foster a stable competitive market based financial system.