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The Arab National Bank enters the Iraqi market with (38.2) million dollars
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Baghdad today - Follow-up
The Arab National Bank announced, today, Sunday, that it entered as an investor in the establishment of the Arab Bank - Iraq, with an amount of 38.2 million US dollars.
The Arab National Bank announced, today, Sunday, that it entered as an investor in the establishment of the Arab Bank - Iraq, with an amount of 38.2 million US dollars.
A statement of the bank, which I viewed (Baghdad Today), said, "The bank obtains the approval of the Board of Directors, after the statutory approvals, to enter the bank as an investor with the strategic partner Arab Bank PJSC (a related party) to establish "Arab Bank Iraq - a private shareholding." In Iraq, by 20% of the new bank's capital, at an amount of 38.2 million US dollars.
And the statement added, “The Arab Bank PJSC obtained the initial approval from the Central Bank of Iraq to establish the “Arab Bank of Iraq – a private shareholding,” pointing out that “the Arab National Bank aims, through this investment, to contribute to facilitating and supporting trade exchange for customers.” The bank, the diversification of income sources and entry into new promising markets for the benefit of the bank and the rights of shareholders.
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