“In line with answering the need for transferring foreign currencies, we have strived to establish a broad foreign network and that is why we will soon open a branch in Najaf,” Abbas Khosravani was also quoted as saying by ILNA. This will be the second branch of the Iranian lender in Iraq, the other being in Baghdad. “We are also reviewing the possibility of opening new branches in Europe,” he added. BMI, Iran’s biggest lender, is also planning to open a branch each in the holy cities of Najaf and Karbala, according to Financial Tribune.