The opening of the first branch of the Iraqi Bank for Trade in Saudi Arabia

The opening of the first branch of the Iraqi Bank for Trade in Saudi Arabia

2019/4/18 16:00

The opening of the first branch of the Iraqi Bank for Trade in Saudi Arabia(Baghdad: Al-Furat News) Finance Minister Fouad Hussein opened today the first branch of the Iraqi Bank for Trade in Saudi Arabia.
The opening ceremony was attended by Ahmad Al-Khulaifi, Governor of the Saudi Monetary Agency, Turki Al Mutairi, Deputy Governor of SAMA, Faisal Al-Himes, Chairman of the Iraqi Trade Bank and Chairman of the Board.
“This comes in line with the bank’s plan to expand its operations at the regional and global levels,” the bank’s statement said.
The ceremony was attended by senior Iraqi and Saudi officials, investors and representatives of the region’s leading banks.
The opening of the branch of the first bank of its kind outside Iraq in 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.
“This step supports the Bank’s efforts towards further growth and expansion. It also affirms the Bank’s commitment to implement international compliance standards in accordance with the banking model adopted in the global banking sector and contribute to the economic development of Iraq in order to achieve growth and prosperity for the country.”
“The new branch will soon begin banking and financial operations shortly after the completion of the procedures. The expansion of the BTI’s business will provide an opportunity to expand business and investment and contribute to building a network of banking relationships with major institutions in the financial and banking sectors of Saudi Arabia , To take advantage of the enormous opportunities in the Iraqi market, which is witnessing continuous growth. ”
“The Iraqi government is working on several projects in Saudi Arabia that include a wide range of fields in order to develop and strengthen relations between the two countries,” he said.
“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 strengthening our bilateral cooperation,” said the Minister of Finance. The two brotherly countries, especially after the support provided by the Kingdom to investors and investors to invest in Saudi markets. ”
The Bank of Iraq has opened a representative office in Abu Dhabi, the capital of the UAE, by the end of 2017. The Bank has successfully made significant strides in achieving its strategic objectives to witness a new phase that will enable it to sustain the Bank’s sustainable growth, His presence in the region’s financial market as a financial institution enjoys close ties to global financial networks.
“Nestor today is a new success in the Bank of Iraq’s record of achievements, and we are all employees, partners and clients who are proud of this big move,” said Faisal Al-Hims, Chairman and Chairman of the Iraqi Trade Bank.
“Personally, I have been waiting for this moment since we announced the expansion plan, and I look forward to seeing the significant economic benefits that the new branch in Saudi Arabia will bring to our strategic partners and customers.”
“I thank all the employees of the Iraqi Trade Bank who contributed to this achievement. I would like to thank the King of Saudi Arabia and His Crown Prince for their guidance in supporting and facilitating the opening of our branch in Riyadh and the rest of our partners in the Kingdom.”
The Iraqi Trade Bank operates in accordance with its long-term strategic plan for 2021 and plays a crucial and significant role in the process of reconstruction and sustained growth of Iraq’s economy in 2021. The success of the Bank’s endeavors is directly linked to the stability and prosperity of the country and has a strong impact on Iraqi society.

alforatnews.com