Millennium Bank to help manage Iraqi National Bank

The consortium of banks led by J.P. Morgan, has won a tender for managing th e Bank of Iraq, which was set up in July earlier this year. Bank Millennium, which is part of the consortium, will be responsible for managing financial resources worth hundreds of millions of dollars annually. The bank will help Iraqi institutions and oil concerns to import key products. "We are very hap py that the offer of the consortium has been selected. Participation in an i nternational project is a vital, professional challenge for the bank" said t he bank's spokesperson Wojciech Kaczorowski. Bank Millennium will operate in Iraq for 12 months, with the possibility of extending this period for a furt her 2 years. (Puls Biznesu, p. 7) A.Z.