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American Forces to Open Banks in Iraq

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American Forces to Open Banks in Iraq

Post  Shilo on Sat May 22, 2010 7:16 am

American Forces to Open Banks in Iraq

Baghdad (NINA) – American forces in Iraq decided to open banks in ten American bases through out Iraq to provide services to civilian contractors working inside the bases.

Liaison officer with Finance Department at the Financial Operations Office, Captain Andria Singer, said that the initiative to open banks inside bases will become to deal with Iraqi Dinars instead of US Dollar, to strengthen Iraq’s economy.

She added that the bank will not only provide work opportunities, but it will also increase confidence in the Iraqi currency as well as Iraqi banks.

A statement by the American Army said that first bank will be opened at Victory Base, near Baghdad International Airport, which is a branch of Bank of Baghdad, which has been approved by the US Department of Treasury, to deposit American government and firms’ funds in it to finance American forces in Iraq.

The statement said that by the end of the year, Iraqi banks will start operating in American bases through out Iraq.

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