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BIB opens a representative office in Abu Dhabi
11/27/17
The Iraqi Trade Bank (EBB) opened yesterday a representative
office in Abu Dhabi to become the first Iraqi commercial bank to be launched in the UAE and the first international branch of the bank outside the Republic of Iraq.
The Bank's representative office is located at the Abu Dhabi International Market on Al-Mariya Island, strategically located in the heart of Abu Dhabi's financial center.
This excellent location will contribute to establishing the Bank of Iraq as a leading and reliable institution among international banking institutions and will help the bank reach the network of international banks and banks around the world, according to the Emirates News Agency.
Through its new representative office in Abu Dhabi, the Iraqi Trade Bank will be able to enhance investment opportunities within Iraq and to build and establish working relationships and cooperation with the most important banking and financial institutions in the UAE.
The opening ceremony was attended by Dr. Ali Al Alaq, Governor of the Central Bank of Iraq, Ahmed Al Sayegh, President of the Abu Dhabi Global Market, Faisal Al-Hims, General Manager and Chairman of the Board of Directors of the Iraqi Trade Bank and Dr. Raad Mohammad Rashad Alousi, Ambassador of the Republic of Iraq to Along with a number of senior bank officials.
The opening of the first representative office of the Iraqi Trade Bank in the UAE is an exceptional event in the history of the Bank and is important for the financial sector in Iraq and the Republic of Iraq in general. This important step marked the entry of the first Iraqi commercial bank to the UAE, A leading global financial center.
For his part, Faisal Al-Hims said that the Iraqi Trade Bank, since its establishment in 2003 and until today, has been able to achieve much for the State of Iraq and its people and to enhance the satisfaction of customers and partners. The opening of the representative office in Abu Dhabi reaffirms the leadership and success of the Bank .
The Iraqi Trade Bank was established in July 2003 to help rebuild Iraq by facilitating international trade after the end of the UN oil-for-food program.
Since then, the Bank has established a working relationship and joint cooperation with 134 leading global banks in 63 cities in 39 countries around the world.
The total assets of the Iraqi Trade Bank by the end of 2016 amounted to 19.7 billion dollars, while the net profit amounted to 453.9 million dollars. The bank has 25 branches distributed throughout Iraq.
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