Major Iraqi Bank Eyes Iran Branch

Rasheed Bank, the second largest bank of Iraq, has requested to open a branch in Iran, Mohammed Shia al-Sudani, Iraq’s acting minister of industry and minerals, said. Noting that there are five active branches of Iranian banks in Iraq, the Iraqi official hoped that the Central Bank of Iran will approve Rasheed’s request, Shata.ir quoted him as saying during his Sunday meeting with Iran’s Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh. Bank Melli Iran has three branches in Baghdad, Najaf and Basra. Parsian Bank also has a branch in Baghdad. In May, Iran’s Tourism Bank also opened an office in Najaf. CBI had named Iraqi Islamic Cooperation Investment Bank as one of the five licensed banks in Iran. Iran was Iraq’s third biggest trading partner in 2016.