Western banks start to pull out of Iraq - FT.com:
"The growing crisis in Iraq has forced western banks that launched themselves into the Iraqi market with gusto in recent years to tighten controls on clients’ funds and pull senior staff out of the country amid growing security concerns.
Standard Chartered, which opened branches in Baghdad and Erbil in 2013, has moved the head of its Iraqi business and another British colleague to Dubai, from where they continue to oversee operations.
The head of Citigroup’s representative office in Baghdad has moved to Amman in neighbouring Jordan. The US bank has also advised its multinational corporate clients to reduce the amount of cash they keep in Iraq to a minimum."
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