Dubai – Mubasher: Central Bank of Iraq’s governor Ali Mohsen Al-Alaq on Monday unveiled an agreement with the UAE’s Emaar Properties to implement the new Al-Rasheed Residential City Project with total investments of $10 billion (AED 36.8 billion).

Emaar Properties will commence the construction of the project in 2018, Emarat Al Youm newspaper reported, citing Al-Alaq as saying.

The Iraqi Central Bank governor opened earlier a representative office for the Trade Bank of Iraq on Al Maryah Island in Abu Dhabi.