The manager of Vakifbank, a Turkish bank, stated on Tuesday that they plan to open the bank's branch in Erbil, capital of the Kurdistan region, early next year according to the Anatolia Turkish news agency.

The agency quoted Suleiman Kalcan as saying that in Erbil there are currently about a thousand Turkish businessmen and more than 5,000 workers and that the volume of trade exchange between the two sides reached to more than five billion dollars... There are about 30 Iraqi banks in Erbil, but the banking system throughout Iraq is not at the required level.

"There are problems in the money transfer and the bank branch will have an important role in overcoming these problems, and the branch will employ 15 staff two or three of them from Turkey and the rest from Erbil."

 

©Aknews