Arab Bank Iraq
Bank of Iraq
The Arab Bank Iraq (Arabic: البنك العربي في العراق) is a small-sized Iraqi bank. Subsidiary of the Jordanian group Arab Bank.
01History
Arab Bank opened its first Iraqi branch in Baghdad in 1945, establishing branches in Erbil and Mosul. The bank’s first period in Iraq came to a sudden halt in 1964. Following a political wave of Arab socialism in the middle east, the Iraqi government passed sweeping nationalization laws.
In 2023, Arab Bank re-entered the market by establishing a new entity, Arab Bank Iraq, structured as a private Iraqi joint-stock company. Arab National Bank announced an investment of USD 38.2 million in newly created bank obtaining 20% of the shareholding.
Sources and credits
This article is adapted from the Wikipedia article “Arab Bank Iraq”, written by its contributors and licensed under CC BY-SA 4.0. Fathomly has changed the layout, removed citation markers, navigation and maintenance notices, and adjusted punctuation. This adapted version is shared under the same license. For references, see the original article.
Images, from Wikimedia Commons:
- Arab Bank.svg by Arab Bank, Public domain
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