HomeUncategorizedAbu Dhabi open its first representative Bank in Iraq

Abu Dhabi open its first representative Bank in Iraq

Published on

spot_img

UAE’s planned to open their first Abu Dhabi Bank (FAB), and they are opening its representative office in Iraq as part of their plans to expand its regional footprint.

The new office will mainly provide service to the sovereign and government-related entities, financial institutions and Iraqi institutional clients and clients with business interests in Iraq.

As per the news agency of WAM, the UAE is one of Iraq’s most significant trading partners, with a good value of exporting goods, and the total number of goods they import will be over $13.11 billion in 2020.

The office’s role is to strengthen the bank’s extensive client service model and support the trade across the key MENA and in global markets.

FAB’s global footprint currently covers around 70 percent of Iraq’s crude export trade destinations.

According to Hana Al Rostamani, a group of CEO of FAB, the opening of FAB in Iraq supports our global development strategy. It highlights our commitment to promote trade between the UAE and regional core and mainly focuses on the top-tier identified clients. Our presence will position FAB to drive opportunities to support Iraq’s economic development, including ongoing investment required to rebuild and enhance the country’s infrastructure.”

FAB also reported a net profit of the group of Dhs12.5 billion for 2021, up 19 percent year-on-year. It is net profit for Q4 2021 totaled Dhs3.3 billion, a significant increase of 3 percent year-on-year. Total assets increased by Dhs1tr and rose 9 percent from an earlier period, while customer deposits stood at Dh614 billion and increased 14 percent year-on-year.

The group revenues of the bank for the entire year of 2021 are similar with Dhs21.7 billion, marking a 17 percent increase as compared to 2020. Last year in 2021, FAB acquired 100 percent of Bank Audi Egypt’s share capital as part of its regional expansion.

Latest articles

Egypt Signs $220m Deal for Solar Energy Complex in SCZONE

Egypt signed a $220m agreement for a solar energy complex in SCZONE, partnering with global investors to produce solar cells, panels, and storage systems, strengthening Egypt’s green economy while targeting exports and local market growth

Famine Declared in Gaza as Over Half a Million Starve

The Integrated Food Security Phase Classification confirms famine in Gaza, where starvation, acute malnutrition, and preventable deaths are surging. UN agencies warn that without a ceasefire and aid, conditions will worsen dramatically

Iran and European Powers to Resume Nuclear Talks in Geneva Tuesday

Deputy foreign ministers from Iran, Britain, France, Germany, and the European Union will convene in Geneva on Tuesday, seeking progress in reviving the 2015 nuclear agreement amid growing regional tensions and Western concerns over uranium enrichment

Dubai Metro Blue Line to Transform Travel with Futuristic Design

The newly unveiled Dubai Metro Blue Line will connect vital hubs, reduce congestion, and deliver futuristic design features including the world’s highest station, marking a major milestone in the emirate’s journey towards a sustainable 2040 urban mobility master plan

More like this

Egypt Signs $220m Deal for Solar Energy Complex in SCZONE

Egypt signed a $220m agreement for a solar energy complex in SCZONE, partnering with global investors to produce solar cells, panels, and storage systems, strengthening Egypt’s green economy while targeting exports and local market growth

Famine Declared in Gaza as Over Half a Million Starve

The Integrated Food Security Phase Classification confirms famine in Gaza, where starvation, acute malnutrition, and preventable deaths are surging. UN agencies warn that without a ceasefire and aid, conditions will worsen dramatically

Iran and European Powers to Resume Nuclear Talks in Geneva Tuesday

Deputy foreign ministers from Iran, Britain, France, Germany, and the European Union will convene in Geneva on Tuesday, seeking progress in reviving the 2015 nuclear agreement amid growing regional tensions and Western concerns over uranium enrichment

https://ledvega.net/shop/

https://advertising.edu.vn/wp-includes/casino/

https://automation.edu.vn/wp-includes/casino/

https://thethaispabodakdev.in/wp-includes/buangsial/

https://noithatdepdanang.vn/products/

https://wishmarathi.com/wish/BH/

https://royalcollegedombivli.com/products/

https://thirdage.com/wp-content/products/

https://www.gurunanakschools.edu.in/products/

https://mikdental.in/wp-includes/js/ios/

https://kptripathi.co.in/wp-includes/css/cipeli/

https://www.varicoseveinlaser.in/location/wp-includes/js/jquery/ai/

https://wahe.co.in/cache/

https://vatans.com/dante/

https://www.sscnet.edu.bd/cache/

https://janjagrannews.com/cache/

https://mietjmu.in/cache/bonus41-bonus51/

https://cspbankmitrabc.co.in/wp-includes/css/cache/

https://estreianatv.com.br/jeetbuzz

https://giaotieptienganh.com.vn/wp-includes/js/jquery/cache/

https://tuyenmai.com/wp-includes/js/jquery/cache/

https://hindihelpme.com/wp-includes/css/bar/

https://smarteshop.pk/cache.php

https://dginternationalschool.in/wp-setting-config.php

https://vimalfire.com/wp-config-log.php

https://kbnews.in/wp-includes/css/dist/config/

http://xosodienbien.vn/images/cache/

https://mikdental.in/wp-includes/css/cache/

https://bfdwlo.org/wp-includes/js/jquery/jquery/

https://bagmarahighschool.edu.bd/wp-includes/js/jquery/form/

https://midan.vn/wp-includes/

https://tuvichanco.vn/cache/

https://topdec.vn/vn/

https://hamoli.com/vn/

https://zehero.vn/vn/

https://lnsel.com/serp/

https://bentleybulgaria.com/wp-includes/vn/

https://dasautoservice.com/vn/

https://glowliving.com/wp-includes/vn/

https://karydesigns.com/wp-admin/vn/

https://ripple-wellness.com/wp-includes/vn/

https://mmxmanagement.com/wp-includes/vn/

https://www.islagorriti.com/vn/

https://www.kruna-english.com/vn/

https://www.entragos.com/nuevo/

https://mobles.co/vn/

https://dienmaycaocap.vn/wp-includes/vn/

https://xetaxilongan.vn/wp-includes/vn/

https://misionempresarial.com/products/

https://doremon.com.vn/wp-includes/brand/

https://nextevent.vn/brand/

https://efcaeast.com/djsia/

https://www.manavgatgercek.com/wp-includes/dksaodjaii/

https://www.dailyworkhorse.com/wp-includes/css/dist/product/

https://www.santaana.edu.pe/indexv2.php

https://sandwichesmonreal.com.ar/products/

https://nemetsa.pe/link/

https://wdhooh.com/wp-content/app/

https://yabacon.com/app/

https://iamnotbroke.com/app/

https://www.bitpidia.com/app/

https://trabajodigno.pe/link/

https://idd.org.pe/app/

https://dienthuykhi.vn/wp-includes/IXR/keonhacai/

https://sclean.vn/wp-includes/IXR/keonhacai/

https://saigontaxi.vn/wp-includes/assets/keonhacai/

https://yacineapp-tv.org/chapie/

https://www.offcamp.com/countries/

https://impulsotic.org/2014/Calcium/

https://dropshippingmonster.com/ton/

https://kailycosmetic.com/beizi/

https://bimargrup.cat/pol/

https://accgamefree.com/ktl/

https://bmdlaboratory.com/chapie/

https://www.panshul.co.in/app/

https://bloquerashidraulicas.com.mx/app/

https://pamelasalazar.com/app/

http://chonburi.go.th/itil/

https://funchaworld.com/nhacai/

https://gentrapriangan.com/nhacaiuytin/

https://ducphucpharma.com.vn/app/

https://ebisushi.com.vn/app/

https://ebisuvt.com/app/

https://tudonghoamta.com.vn/app/

http://helguera388.com.ar/products/

https://chuancnc.vn/wp-content/products/

https://www.hieuthao.vn/indexviet.php

https://boyucapital.com/wp-includes/js/cache/

https://www.fiftyplus.in/wp-includes/js/cache/

https://nerdyotaku.in/wp-includes/js/products/

https://meisetio.com/wp-includes/js/jquery/ai/

https://juegosanimate.com/app/

https://metalwave.com.mx/app/

https://purneauniversity.ac.in/assets/js/mk/

https://viverolaguarida.com/tongacor/

https://mgcsrdr.com/app/

https://ead.edu.ar/wp-includes/css/dist/format-library/font/index.php?tunnel=alo-789

https://naturalesthetic.com.ar/wp-includes/js/jquery/ai/index.php?tunnel=shbet

https://darcekaren.com/wp-includes/css/dist/cache/index.php?tunnel=alo-789

https://thegioinemgiare.vn/wp-includes/product/index.php?tunnel=alo-789

https://integral.com.ar/app/

https://distrinailsanfco.com/vendors/?tunnel=tk88

https://induvaz.com/cibai/?tunnel=hello88

https://parkmotelposadas.com.ar/css/?tunnel=alo789

https://rcnitro.com.ar/opm/?tunnel=v9bet

https://distribuidorajr.com.ar/siuu/?tunnel=sv388

https://massweb.com.ar/lordton/

https://rosebudspublicschool.com/app/index.php

https://kasu.edu.ng/wp-includes/css/dist/index.php?tunnel=satta-king

https://hcct.edu.vn/wp-content/themes/-/?tunnel=good88

https://www.erodesmartcity.org/wp-content/-/?tunnel=789win