First Abu Dhabi Bank is preparing to open its branch in Iraq.. It covers 70% of the areas to which Iraq exports its oil

[6ly410]

First Abu Dhabi Bank is preparing to open its branch in Iraq.. It covers 70% of the areas to which Iraq exports its oil

2022-03-11

https://yesiraq-com.translate.goog/بنك-ابو-ظبي-الأول-يستعد-لفتح-فرعه-في-الع/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

 

First Abu Dhabi Bank announced plans to expand its international operations by opening a representative office in Iraq, as part of its international growth strategy aimed at facilitating trade flows in the region and enhancing its financial services to international clients.

 

The UAE has important trade relations with Iraq; The volume of bilateral trade between the two countries exceeded $13.11 billion in 2020.

Based on its position in the region and its strategic presence on five continents, the international network of First Abu Dhabi Bank currently covers about 70% of the export destinations of Iraqi crude oil around the world.

First Abu Dhabi Bank in Iraq will mainly provide its services to government agencies, Iraqi public companies and institutions, and institutions looking to do business in Iraq. The office will contribute to enhancing the diversified services provided by First Abu Dhabi Bank to its customers, and supporting trade across the most prominent markets in the Middle East and North Africa and global markets.

Hana Al Rostamani, Group CEO of First Abu Dhabi Bank, said: “The opening of a representative office for First Abu Dhabi Bank in Iraq is another step in the bank’s strategy to expand its business internationally, and confirms our commitment to enhancing trade flows between the UAE and developing economies. By taking advantage of our strong business in the UAE and the region, and by focusing on selecting elite clients, First Abu Dhabi Bank will contribute to providing opportunities that support the growth of the Iraqi economy, including continuing the necessary investments to improve and rebuild the country’s infrastructure.”

The International Business Network of First Abu Dhabi Bank, covering five continents, provides the best global financial relationships and expertise to support the businesses of local, regional and international companies that wish to develop their businesses at home an

[Theseus]

Well isn't that FAB -ulous!

[6ly410]

First Abu Dhabi Bank to open Office in Iraq

16th March 2022 in Iraq Banking & Finance News

By John Lee.

https://www.iraq-businessnews.com/2022/03/16/first-abu-dhabi-bank-to-open-office-in-iraq/

 

First Abu Dhabi Bank (FAB) has announced that it will open a representative office in Iraq.

The new representative office will primarily service Sovereign and Government Related Entities (GREs), Financial Institutions and Iraqi institutional clients in addition to clients with business interests in Iraq.

Hana Al Rostamani (pictured), Group Chief Executive Officer of FAB, said:

"The opening of FAB in Iraq supports our international expansion strategy and underlines our commitment to facilitate trade between the UAE and growth economies.

"By leveraging our strong UAE and regional core, and focusing on top-tier, identified clients, our presence will position FAB to drive opportunities in support of Iraq's economic development, including ongoing investment required to rebuild and enhance the country's infrastructure."

(Source: FAB)