Iraqi bank receives verbal approval to open a branch in Saudi Arabia

by **Rocky** Sun Nov 26, 2017 8:49 am

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Post n°1

Iraqi bank receives verbal approval to open a branch in Saudi Arabia

by Rocky Sun Nov 26, 2017 8:49 am

Iraqi bank receives verbal approval to open a branch in Saudi Arabia

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BAGHDAD (Reuters) - Chairman of the Board of Directors and Acting Chief Executive Officer of the Iraqi Bank of Commerce (Hukoomi) Faisal Al-Hims said on Sunday that his bank obtained verbal approval from the Saudi Arabian Monetary Agency (SAMA) to open a branch in Saudi Arabia.
"We have applied for a branch license in Saudi Arabia and we have already received verbal approval from Sama," Homs said in comments on the sidelines of a branch of the Iraqi bank in the UAE capital.
The Iraqi Trade Bank has been trying to enter the UAE and Saudi markets for several years, but was waiting for the right opportunity.
The Iraqi Commercial Bank is owned by the State of Iraq and its main activities are trade finance, but it seeks to enter the areas of project finance and industrial and agricultural finance.
The relations between Iraq and Saudi Arabia have improved this year after years of apathy, but the past months have seen the opening of one of the most important land crossings between the two countries, "Arar" and the resumption of air traffic for the first time in a quarter century. Finished

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by **Rocky** Mon Nov 27, 2017 4:15 am

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Post n°2

An Iraqi bank plans to open its first branches in Saudi Arabia

by Rocky Mon Nov 27, 2017 4:15 am

An Iraqi bank plans to open its first branches in Saudi Arabia

11/27/17

The Chairman of the Board of Directors of the Iraqi Trade Bank Faisal Al-Hims, on Sunday, for applying for a license branch within Saudi Arabia.

"The governor of the Central Bank Ali Ismail al-Alak announced that Iraq intends to issue sovereign bonds of two billion dollars in 2018," he said in an interview with Al-Iktissad News.

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by **Rocky** Mon Nov 27, 2017 5:37 am

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Post n°3

"Iraqi Trade" gets verbal approval for expansion in Saudi Arabia

by Rocky Mon Nov 27, 2017 5:37 am

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2017/11/26 18:16

(Encyclopedia of this Day News | [You must be registered and logged in to see this link.] ) - Direct said Chairman of the Board and Acting Chief Executive Officer , " the Trade Bank of Iraq," he received a verbal approval from the Saudi Arabian Monetary Agency , a license to establish a branch in Saudi Arabia.

Faisal Al-Hims said that the bank has already applied for a branch license in Saudi Arabia for the Authority, according to "Reuters"

The bank opened today a representative office in the UAE capital Abu Dhabi to be the first Iraqi commercial bank in the UAE and the bank's first international branch outside Iraq.

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