banks instruction

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New Instruction for Bank's Capital from the Central Bank of Iraq

On October 6, Central Bank of Iraq issued a new instruction (Ref. #: 9/3/1747) for bank's capitalization. According to the new instruction, minimum capital for all banks should be ID250 bln ($213 mn) as of June 30, 2013. The progression of the increase should be according to the following schedule:

· ID 100 bln ($85 mn) within one year (by end of June 30th, 2011)

· ID 150 bln ($128 mn) within two years (by end of June 30th, 2012)

· ID 250 bln ($213 mn) within three years (by end of June 30th, 2013)

Please see attached file for individual bank's capital and their expected capital increases. We will inform all our clients holding shares in these banks of the dates of the increase when they are announced by the prospective banks. Please let us know if you have any questions.

This was a email i recived.There is a list of banks i couldn't copy.