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Central Bank of Iraq takes decisive action

The directorate-general announced last month that the minimum amount of capital that its banks must hold increased fivefold

While western financial regulators are still debating whether and by how much to increase banks’ capital requirements, news of a decisive move has come from an unlikely quarter: the Central Bank of Iraq.

The directorate-general of banking and credit control at the country's central bank announced last month that it had decided to increase the minimum amount of capital that its banks must hold by a factor of five.

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