Erbil, Kurdistan-Iraq, --The head
of the executive board of the Kurdistan International Bank has
announced that his bank has been successful in establishing
relations with a number of international banks worldwide, reports
the K.R.G's official website.
He stated that the bank has some 450 branches around the world,
particularly in neighboring countries; the International bank of
Kurdistan is now able to transfer and receive funds from outside.
The head said this institution has become a partner of Western Union
which is the biggest company for transferring money in the world,
Western Union is active in around 200 countries with nearly 235
thousand operating branches, enabling this giant firm is able to
send the transferred amount in a matter of only two minutes to
Kurdistan.
The bank representative claimed the federal government of Iraq has
also been quite cooperative in this project by means of giving the
bank the permission to operate in its jurisdiction as well as
providing 50 billion Dinars as the starting deposit amount.
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