Every country needs an economic system and banking has always provided a foundation. In Iraq when that realization has come to pass over social policy it'll be time to invest.
http://www.menafn.com/qn_news_story_s.asp?StoryId=1093137609
http://www.economist.com/finance/displayStory.cfm?story_id=2792407
A huge training effort has been going on. Advisers from America's Treasury and bank regulators have given classes on subjects ranging from the use of Microsoft Word to the basics of Basel 2, a new treaty on bank supervision. “It is a big challenge, a new way of thinking,” says one American adviser. “Banking based on risk and judgment is radically different from bank decisions based on Saddam's say-so.”
Iraq Banking news
http://www.einnews.com/iraq/newsfeed-iraq-banking
CPA designated bank policy
http://www.cpa-iraq.org/bank/banking_pager.html
Otherwise
"Peter McPherson and a whole bunch of recent college grads picked by the Heritage Foundation sent over to Iraq to set up a banking system. That was three years ago. But now, oh by the way, Iraq has no banking system. That's what you get when political considerations govern your hiring decisions: rank incompetence."