The opening of the first representative office of a private Iraqi bank in Dubai

by **Rocky** Sat 28 Jul 2018, 1:32 am

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Post n°1

The opening of the first representative office of a private Iraqi bank in Dubai

by Rocky Sat 28 Jul 2018, 1:32 am

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The opening of the first representative office of a private Iraqi bank in Dubai

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[rtl]Release Date: 2018/7/27 19:16 • 177 times read[/rtl]

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(Baghdad: Al Furat News) The Chairman of the Board of Directors of the International Development Bank, Ziad Khalaf Abdul, opened the Representative Office of the Bank in the Emirate of Dubai in the presence of Iraqi and Emirati economic figures.

The opening comes after the Bank has been subject to all due diligence procedures by the Central Bank of the United Arab Emirates and in view of the Bank of Iraq's financial solvency and control procedures, under which the final approval of the UAE side to the opening of the representative office.
The International Development Bank, which was established in 2011 and received many awards, most recently from the Union of Arab Banks as the best Iraqi bank to provide electronic services, and 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 major expansion in the banking deal between the bank International development and world companies ".
He stressed that "the International Development 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."
He pointed out that "the International Development Bank has a strategic plan for its work, which included the introduction of the best global technology 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, Representative offices of the International Development Bank will facilitate the process of trade between Iraq and the countries of the world. "
The opening ceremony was attended by Deputy Governor of the Central Bank of Iraq, Munther Abdulqader Al Sheikli, Iraqi Consul in Dubai Hussein Ali Al Azzawi, DMCC Representative in Dubai Christa Fox, representatives of MasterCard, Visa and Card, UAE and Iraq.
The DFID's financial statements showed that its profits increased by 7.84% year-on-year in the second quarter of this year. The IDB's capital is 250 billion dinars. The International Development Bank is the first among the Iraqi banks that have ATMs With more than 300 devices spread throughout Iraq in addition to having a large network of correspondent banks

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by **Rocky** Sat 28 Jul 2018, 2:47 am

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Post n°2

The opening of the first representative office of a private Iraqi bank in Dubai

by Rocky Sat 28 Jul 2018, 2:47 am

The opening of the first representative office of a private Iraqi bank in Dubai

19:42 - 27/07/2018
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Information / Baghdad ..

The International Development Bank of Iraq has opened its representative office in Dubai, UAE, after being subject to all due diligence procedures by the UAE Central Bank.

"The Chairman of the Board of Directors Ziad Khalaf Abdul has opened the representative office of the International Development Bank in Dubai in the presence of Iraqi and Emirati economic figures after the bank has been subject to all due diligence procedures by the Central Bank of UAE and in view of what it owns," the bank said in a statement. The Bank has a financial position and regulatory procedures under which the final approval from the UAE side has been granted the opening of the representative office. "

He added that "the International Development Bank, which was founded in 2011 is the first private Iraqi bank to obtain a license opens 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 comes in line with the requirements of the next phase which will see a significant expansion in the banking deal between the International Development Bank and the world's companies," Khalaf said at the opening ceremony.

He stressed that "the International Development Bank chose Dubai as it is an important commercial 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.

He pointed out that "the International Development Bank has a strategic plan for its work, which included the introduction of the best global technology 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 the country of Greece," explaining that " Representative of the International Development Bank will facilitate the process of trade between Iraq and the countries of the world. " Finished

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