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Iraq shuts 10 banks in restructuring scheme
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Iraq shuts 10 banks in restructuring scheme
Aim to restore confidence Deposits not returned Iraqis keep money at home Iraq has ordered the liquidation of 10 of its banks as part of plans to restructure its financial sector after some failed to return funds to depositors, the governor of the Central Bank of Iraq (CBI) has revealed. Ali Al Allaq said the government is pushing ahead with the restructuring to restore confidence in the banking sector that has been jolted by large losses and co…
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