Iraqi bank in Saudi Arabia to strengthen the financial structure of Baghdad


Iraqi bank in Saudi Arabia to strengthen the financial structure of BaghdadThe Saudi-Iraqi relations have entered a new phase of financial cooperation after allowing the Commercial Bank of Iraq to open a branch in the Kingdom, in a step described by a Saudi official as strengthening the Iraqi financial structure and contributing to the stability of prices in the current geopolitical situation. From Canada, Australia and Singapore.

“The approval of the Iraqi Commercial Bank’s license to open a branch in the Kingdom would be beneficial to the State of Iraq, the Iraqi Bank and the Saudi banking sector,” Al-Sharq Al-Awsat newspaper quoted Talaat Hafez, general secretary of the Committee for Information and Banking Awareness, as saying.

“The Bank’s entry into the Saudi market will achieve several positive advantages for the Iraqi banking system in the first place. The Saudi banking environment is one of the best banking environments in the Arab, regional and international markets in terms of strength, robustness and diversity, Banking payment systems.

Article Credit: https://alrassid.org/
Special Thanks to Tim Tarkington!!