INA – BAGHDAD
Iraq Private Banks League announced on Tuesday, that 7 private and government banks have won the membership of Board of Directors of Iraqi Corporation for Deposit Insurance during the elections of the General Committee.
“A meeting was held by the General Committee of Iraqi Cooperation for Deposit Insurance. The contributed corporation has a total capital of 100 billion IQD,” said the Executive Manager of the League Ali Tariq.
The meeting attendees included the Central Bank of Iraq, Directorate of Companies Registration – Ministry of Trade, Iraq Stock Exchange, Committee of Retirement and other members of private and government banks.
Tariq added that the stocks is distributed among 25% and 30% goes to private banks and foreign branches in addition to the committee of retirement, whereas 45% of it goes to for Initial public offering.