Barzani’s party rejects federal bank branches in Sulaymaniyah

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iraq news

Briar Rashid, the representative of Sulaymaniyah Governorate, has stated that the Kurdistan Democratic Party, representing the regional government, has declined the request to establish branches of Al-Rafidain and Al-Rasheed Banks in Sulaymaniyah Governorate. This decision goes against the wishes of the local people who had requested this service.
Rashid informed Al-Maalouma that Al-Rafidain Bank has received approval to establish a branch in Sulaymaniyah Governorate. The bank underwent reviews at the start of the fifth parliamentary session and was approved by the Ministry of Finance. The Director General of the bank also has no objections to the branch opening, as long as there is coordination between the governments of Baghdad and Erbil, as well as the Ministries of Justice and Interior.
According to him, the regional government did not approve the opening of branches of Rafidain and Al-Rashid banks in Sulaymaniyah. The reasons for rejection were not mentioned. He explained that there is a political aspect within the regional government that leads to the refusal of opening branches of these two banks. This is because the banks in Kurdistan are linked to the ruling parties, particularly one party. As a result, this is one of the reasons why government bank branches cannot be opened in Kurdistan.
According to him, the Central Bank has given its approval for an office to be opened in Sulaymaniyah. However, there is still pressure on Erbil to allow the opening of branches of Rafidain and Al-Rashid banks in the same area. This is a popular demand among the people of Sulaymaniyah.

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