Bank of International Settlements accepts additional deposits from Iraq

By Ghassan Hamed, Hussein Lafta - December 27, 2013 11:00

The Central Bank of Iraq announced on Sunday that it has received a memo from the Bank of International Settlements BIS in Basel Switzerland in which it announced that it will accept more deposits from Iraq. The BIS considered that this procedure will bring better revenues for the Iraqi money.

“The Central Bank has received a memo from the Bank of International Settlements in Basel announcing that it will be accepting Iraqi deposits as part of the Bank’s 2014 budget”, said the Bank in a press release of which Alsumaria received a copy.

“This procedure will contribute in increasing Iraq’s money revenues after keeping it in a very secure location”, added the Bank.

The BIS is an international organization for central banks aiming to strengthen monetary and financial cooperation worldwide. This bank cannot be questioned by any government and it is based in Basel Switzerland.

Source :  News Source
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