Minister of Finance opens the first branch of the Iraqi Bank for Trade in Saudi Arabia


BAGHDAD (Reuters) –

Iraqi Deputy Prime Minister and Finance Minister Fuad Hussein opened Thursday the first branch of the Iraqi Bank for Trade in the Kingdom of Saudi Arabia in the presence of Ahmed al-Khulaifi, governor of the Saudi Monetary Agency, Turki al-Mutairi, Iraqi Trade and Chairman of the Board.

“This is in line with the bank’s plan to expand its business both regionally and globally,” the finance minister’s office said in a statement received by Al Ghad Press.

“The ceremony was attended by senior Iraqi and Saudi officials, investors and representatives of the leading banks in the region,” the statement said.

“The opening of the branch of the first bank of its kind outside Iraq comes within the framework of activation and revitalization of the movement and banking and commercial activity at the regional and international levels, and takes the new branch of the Saudi capital Riyadh-based.”

He pointed out that ”

As the Iraqi government works to implement several projects in Saudi Arabia, it includes a wide range of fields in order to develop and strengthen relations between the two countries.

“Today is a historic event for the financial sector in Iraq. The opening of our first branch outside Iraq is a major step forward in strengthening our relationship with the Saudi government. We look forward to enhancing our relationship with the Government of Saudi Arabia. Bilateral ties of cooperation between the two brotherly countries, especially after the support provided by the Kingdom to investors and investors to invest in Saudi markets. ”

“Today, Nestor is a new success in the Bank of Iraq’s record of achievements, and we are all employees, partners and clients proud of this big step.” Personally, I have been waiting for this moment since we announced the expansion plan, and I I look forward to seeing the significant economic benefits that the new branch in Saudi Arabia will bring to our strategic partners and customers. ”

The Bank of Iraq operates in accordance with its long-term strategic plan for 2021 and plays a significant and significant role in the reconstruction and sustained growth of Iraq’s economy in 2021. Its success is directly linked to the stability and prosperity of the country and has a strong impact on Iraqi society.


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