Standard Chartered Plc (STAN.L) is in talks to buy a stake in Warka Bank, one of Iraq's biggest private banks, a central bank official said on Monday.
Iraq's central bank has a three-stage plan for banks to increase their capital to $213 million by June 2013 to spur lending in the war-battered state as it emerges from the shadow of sanctions and the 2003 U.S.-led invasion of Iraq.
Hassan al-Haidari, a central bank advisor, said the London-based Standard Chartered had been in negotiations with Warka for the past 3-4 months.
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