For Immediate Release
March 18, 2004

Private Banks Operate in Iraq
Iraq Fact of the Day

Iraq is making progress towards a competitive, market-based financial system. Today, Iraqis have a range of banking options -- 19 private banks with 140 branches across the country, and 315 state-owned bank branches that have reopened since liberation. A modern banking system will support a new market economy and economic prosperity in Iraq.

Source: Coalition Provisional Authority, Baghdad.