Riyadh gives the Iraqi Trade Bank a license to open a branch in Saudi Arabia

Economy News Baghdad:

The spokesman for the Saudi banks Talaat Hafez, on Wednesday, the granting of his country's license to the Iraqi Bank for Trade to open a branch in the country, stressing that the bank's entry into the Saudi market, will achieve several positive advantages of the Iraqi banking system.

Hafez said in a statement to the newspaper "Asharq Al-Awsat" Saudi Arabia, "The approval of the authorization of the Iraqi Bank for Trade to open a branch in the Kingdom will be of benefit to the State of Iraq and the Iraqi Bank and the Saudi banking sector, as well."

Hafez predicted that "the Iraqi banking system will benefit through the existence of this bank in a safe and strong banking environment in the Kingdom, to create a state of stability in the Iraqi financial and banking market, as well as to benefit from the manpower, purchasing and consumer, which exceeds the strength of more than 32 million people, In a vast geographical area, and the delivery of its services in the future, to different parts of the Kingdom.

"There are currently 26 licenses for banks operating in the Kingdom market, of which 12 are Saudi banks, the rest are non-Saudi banks. Thus, the existence of the Commercial Bank of Iraq, alongside these banks, provides a range of options from banks in terms of providing the best service to the client, Package of banks in terms of prices, services and products. "


http://economy-news.net/content.php?id=12944