Iraqs Banking Structure

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Iraqs Banking Structure

• Bankers Association for Finance Trade
• Kevin Woelflein
• Former Senior Advisor
• CPA Ministry of Finance
• Baghdad, Iraq
• November 4, 2004

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Present Banking Structure

• State Owned Banks
• Private Banks

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Iraq Operating BranchesJuly 31, 2004
Source Bank Reports
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Recent Developments

• Iraqi Investor Groups
• Foreign Partners

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Services by Iraqs Banks

• State Owned Banks
• Private Banks

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Private Bank Operating DataLoans as of Deposits
Source Bank Reports
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CPA Law Changes

• Law
• Foreign Investment
• Iraq Banking
• Central Bank of Iraq
• Amendments to Company Law 21
• Anti Money Laundering

• Date
• September 2003
• September 2003
• March 2004
• June 2004
• June 2004

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Operational Changes

• Foreign Exchange Auction
• Currency Exchange
• Trade Bank of Iraq
• Interest Rate Liberalization
• Iraqi T Bill Auction

• October 2003
• October 2003
• December 2003
• March 2004
• July 2004

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Iraqi Private BankSignificant Events

• Return to International Markets
• First Foreign Bank Investment
• Formation Private Bankers of Iraq
• Iraqi Commercial Banking Center
• Direct EFT - US to Iraq
• Capital Decisions by Central Bank of Iraq

• November 2003
• January 2004
• May 2004
• July 2004
• August 2004
• August 2004

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Private Bank Conclusions

• Iraqs Core of the Future Banking Structure
• Window to Industrial Iraq
• Challenges
• Develop Intl Product Capabilities
• Profitably Employ Capital Increases
• Build Nationwide Branch Networks
• Comply with Basel II