July 22, 2006

Kurdistan International Bank to cooperate with American Western Union

The Globe

The head of the executive board of the Kurdistan International Bank announced that his bank has been successful in establishing relations with a number of international banks worldwide, reports K.R.G’s official website.

He stated that the bank has some 450 branches around the world, particularly in neighboring countries; the International bank of Kurdistan is now able to transfer and receive funds from outside.

The head said this institution has become a partner of Western Union which is the biggest company for transferring money in the world, Western Union is active in around 200 countries with nearly 235 thousand operating branches, enabling this giant firm to send the transferred amount in a matter of only two minutes to Kurdistan.

The bank representative claimed the federal government of Iraq has also been quite cooperative in this project by means of giving the bank the permission to operate in its jurisdiction as well as providing 50 billion Dinars as the starting deposit amount.