15.06.2011 - Iraq planning Islamic finance expansion
The Iraqi Ministry of Finance and the Central Bank of Iraq jointly announced plans under which two state banks will begin to provide Islamic banking services. The Ministry of Finance (MoF) is allocating $42 million from the 2011 Budget to allow the state-controlled Rafidain Bank and Rasheed Bank to develop Islamic finance offerings. Rafidain Bank is the largest bank in Iraq with 147 domestic branches and eight abroad. Rasheed Bank is the second largest bank in Iraq..............................................Full Article: Source
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