Iraqi private banks struggle to cope with limited services, capital
Iraqi private banks are battle against decades of state dominance to win a slice of the asset base from government-run enterprises. It is no surprize than that they have it very hard raising their capital.
The poor credit culture, lack of a modern banking system, and the dominance of state banks aren't helping at all. That is why most business from this country is made with cash especially because they are worried about the security.