The opening of the first representative office of an Iraqi bank in Dubai

Economy News _ Baghdad

The International Development Bank (IDB) announced today the opening of its representative office in Dubai, UAE, as "the first office of a private Iraqi bank in the UAE."


In a statement received by Al-Iktissad News, a copy of which was received by Ziad Khalaf, the bank's representative office in Dubai was attended by Deputy Governor of the Central Bank of Iraq Munther Abdulqader Al-Shaikhli and Iraqi Consul in Dubai Hussein Ali Al-Azzawi and Executive Director The Association of Iraqi Private Banks Ali Tariq and the representative of the DMCC free zone in Dubai Christa Fox, the representatives of MasterCard and Visa Card, and a number of economic figures of the UAE and Iraq, "indicating that it came" after the bank was subject to all due diligence procedures by the United Arab Emirates Bank
The statement added that "the International Development Bank, which was founded in 2011 and won several awards, the last of which the Union of Arab banks, is considered the best bank to provide electronic services," noting that "the first private Iraqi bank to open a representative office in the United Arab Emirates" .


"The opening of this office to the International Development Bank in Dubai is a pioneering step for the private banking sector in Iraq, and in line with the requirements of the next phase which will witness a significant expansion in the banking deal between the International Development Bank And the companies of the world, "explaining that his bank" chose Dubai as it is an important trade center in the Middle East and includes more than 15 thousand different international companies, and it is necessary to encourage this investment in Iraq, which will contribute to the development of the Iraqi economy and reduce the rates of unemployment and poverty and raise the welfare of the Iraqi people " .


"The International Development Bank has a strategic plan for its work, which initially included the introduction of the best global technologies in its work, and now headed to the opening of two representative offices in Beirut and Dubai, and will open an executive office in Europe during the coming period, specifically in Greece, The opening of representative offices of the bank will facilitate the process of trade between Iraq and the countries of the world. "


The statement pointed out that "the financial statements of the International Development Bank showed that its profits increased during the second quarter of this year by 7.84%, on an annual basis," pointing out that "the capital of the International Development Bank of 250 billion dinars, and ranked first among Iraqi banks, Has ATMs, with more than 300 devices spread throughout Iraq in addition to having a large network of correspondent banks.




http://economy-news.net/content.php?id=13035

The Central Bank participates in the opening of the representative office of the Development Bank in Dubai

July 29, 2018
The Central Bank participates in the opening of the representative office of the Development Bank in Dubai

The Central Bank of Iraq participated in the opening of the representative office of the International Development Bank in Dubai.

The opening ceremony, attended by Iraqi and foreign economic and financial figures, underscored the need for the Iraqi private banks to play a role in the development of the Iraqi economy and the development of banking.


https://cbi.iq/news/view/770