Barzani’s party rejects federal bank branches in Sulaymaniyah

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Barzani’s party rejects federal bank branches in Sulaymaniyah

From Baghdad comes important news. Briar Rashid, the representative of Sulaymaniyah Governorate, has confirmed that the regional government, represented by the Kurdistan Democratic Party, has refused to open branches of Al-Rafidain and Al-Rasheed Banks in Sulaymaniyah Governorate. This is despite the fact that the people in the region have been demanding the opening of these banks for some time now.

Rashid has announced that Al-Rafidain Bank has received approval from the Ministry of Finance and the Director General of the bank to open a branch in Sulaymaniyah Governorate. However, the opening of the branch is subject to coordination between the governments of Baghdad and Erbil, as well as with the Ministries of Justice and Interior.

According to him, the regional government did not provide any approval for opening branches of the Rafidain and Al-Rashid banks in Sulaymaniyah. He also mentioned that the reasons for the rejection were not specified. He explained that there is a political aspect in the regional government that compels it to refuse to open branches of the two banks. This is especially true since the banks in Kurdistan are affiliated with the ruling parties, particularly the party. Therefore, it is one of the reasons behind the government’s inability to open bank branches in Kurdistan.

According to his statement, the Central Bank has authorized the opening of an office in Sulaymaniyah. However, there is still ongoing pressure from Sulaymaniyah on Erbil to approve the establishment of branches for Rafidain and Al-Rashid banks in their governorate. This is a popular demand and a matter of great importance to the people.