ECONOMY

Trade Bank Iraq opens first international branch in Saudi Arabia

The wholly government-owned bank has opened its first international branch office in the Al-’Olayya District of Riyadh, the bank said in a statement. (Courtesy: TBI)

State-owned Trade Bank Iraq has opened a branch in Saudi Arabia, its first international outlet, the bank said in a statement on Thursday.

“The wholly government-owned bank, which holds an 80 percent market share in Iraq, has opened its first international branch office in the Al-’Olayya District of Riyadh and will start its operations soon,” the statement said.

This development comes amid a vist by Iraqi Prime Minister Adel Abdul Mahdi to Saudi Arabia.

On Wednesday, Saudi Arabia’s Crown Prince Mohammed bin Salman met with Abdul Mahdi.

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Last Update: Thursday, 18 April 2019 KSA 16:05 - GMT 13:05
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