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Today, Saturday, the National Bank of Iraq announced the official start of its business in the Kingdom of Saudi Arabia, pointing out that this privilege is happening for the first time in Iraq’s financial history, as it is a “financial leap” and the bank can now provide its services and innovative solutions to the corporate sector in the vital and important Saudi market.
The National Bank of Iraq, which is affiliated with the Jordanian Capital Bank Group, said in a statement that it "participated in the second edition of the financial sector conference, which started on the 15th and 16th of this March, at the King Abdulaziz International Conference Center in Riyadh," pointing out that " The Governor of the Central Bank of Saudi Arabia, Ayman bin Muhammad al-Sayyari, handed over a certificate of practicing banking business to the CEO of the National Bank of Iraq in the Kingdom of Saudi Arabia, Zaid bin Abdulaziz Abunayyan, in the presence of the Managing Director of the National Bank of Iraq Ayman Abu Dahim and the Executive Vice President of the Capital Bank Group for International Expansions Nadim Qabbat, in addition to To decision makers in the financial sector and senior executives in financial institutions locally, regionally and internationally.
The statement quoted the Managing Director of the National Bank of Iraq, Ayman Abu Dheim, as stressing "the importance of the National Bank of Iraq's presence in this type of international regional conference," explaining that it "will allow the exchange of ideas, experiences and cooperation in all areas that will be discussed during the conference, in addition to communication." And linking up with a group of representatives of leading banks in the region and the world, not to mention opening new horizons for the bank’s work by examining potential business opportunities in the Saudi market.”
For his part, the CEO of the National Bank of Iraq in Saudi Arabia, Zaid bin Abdulaziz Abunayyan, expressed his happiness with the bank’s participation in this conference, which is a regional and international platform that reflects the strength of the Kingdom’s economy in the region, as the bank had an opportunity to introduce its services and innovative banking solutions to thousands of participants with a variety of experiences. In various fields of the sector, representatives of leading banks, market specialists and investment leaders from Asia, Europe and North America.
Abunayyan explained, "The financial sector conference is a unique opportunity for the National Bank of Iraq to see closely the qualitative leaps achieved by the financial services sector in parallel with the continuous development of business and services in the Kingdom of Saudi Arabia, in addition to the possibility of exchanging opinions and experiences with representatives of the leading banks participating in this conference." ".
It should be noted that, in May 2021, the National Bank of Iraq obtained the approval of the Saudi Council of Ministers to open a branch in the Kingdom of Saudi Arabia, in order to encourage and facilitate trade between Iraq and the Kingdom of Saudi Arabia in light of the increasing growth of exports between the two countries, as it will allow the presence of This branch provides an opportunity for the bank to expand the scope of service provided to its corporate clients in Iraq and Saudi Arabia, by providing commercial services to them directly.
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