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Title : BREAKING: Central Bank of Iraq ends activities with the Kurdistan Regional Government
link : BREAKING: Central Bank of Iraq ends activities with the Kurdistan Regional Government

BREAKING: Central Bank of Iraq ends activities with the Kurdistan Regional Government

Fort Russ | Sep 28, 2017 | Paul Antonopoulos

A Central Bank of Iraq (CBI) representative has said that activities with the Kurdistan Regional Government (KRG) has now ended.

The representative cited issues with branches that operate in the KRG.

The representative revealed that the KRG have failed to make any attempts to return $5 billion that was stolen from CBI branches in 2014. These were funds that were meant for government projects.

The representative continued to explain that the CBI were willing to look past this for the sake of national unity, but at this stage will no longer operate in the KRG until banking is secure.

This is mostly because CBI branches are refusing to operate in areas where Kurdish militias belonging to the regions two biggest political parties can break in and steal reserves.

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