By John Lee.

Kurdistan’s Council of Ministers has reportedly approved a proposal from the KRG’s Ministry of Electricity to privatize the Region’s electricity sector.

Ministry official Mohammed Ahmed told Rudaw on Wednesday:

“The government and the people will both benefit from it as it will help reduce a significant amount of stolen electricity.”

More here.

(Source: Rudaw)

Shafaaq News reports that the Central Bank of Iraq (CBI) has announced its intention to privatize the two largest banks in the country.

It quotes CBI Governor Ali al-Alaq as saying:

“The bank’s management is moving to privatize al-Rafidain and al-Rasheed Banks or participate with the private sector … the move is being coordinated with the World Bank after the Cabinet approved this proposal.”

He explained that “these two banks are suffering from serious problems because they occupy 80% of fiscal policy in Iraq,” describing this as “an anomaly.”

(Source: Shafaaq News)

(Iraqi Dinar image via Shutterstock)