Trade Bank of Iraq Continues to Develop its Business in KSA

Trade Bank of Iraq Continues to Develop its Business in KSA

Baghdad-Iraq

April 19, 2021

The Chief Representative of Trade Bank of Iraq, Mr. Habib Bitar, visited Kingdom of Saudi Arabia (KSA) to discuss and follow up the procedures of developing the Bank’s branch business in Riyadh with the Saudi Arabian Monetary Agency (SAMA) and Central Bank of Saudi Arabia. This comes in consistent with the Bank’s plan to expand its business at both regional and global levels.

The visit aims toward activating the banking and commercial activities by the mean of strengthening cooperation aspects within this bilateral relationship. For that regard, the Iraqi government is working to implement many projects and investments in partnership with the Kingdom of Saudi Arabia in different broader areas which shall contribute to the consolidation of relations between these two countries.

The Republic of Iraq seeks to build a stronger and more significant presence in the financial market at regional level as a financial institution having close relations with global financial networks. This expansion of Bank business is an opportunity to build a network of banking relationships with major institutions in the Saudi financial and banking sectors and shall provide investment opportunities in the Iraqi market, which is witnessing a continuous growth.