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  • 19-12-18

    Trade Bank of Iraq eyes purchasing Turkish bank

    (MENAFN) Trade Bank of Iraq (TBI) was revealed to be planning to purchase a Turkish bank with a USD350 million budget.

    The Iraqi bank is currently getting set for the acquisition of a lender in Turkey, marking it as the first purchase of a foreign bank.

    "We are planning to acquire one as a result of lira re-achieving appreciation and stability. The bank that we want to acquire has the same expertise as us," TBI Chairman Faisal Al Haimus stated.

    The volume of bilateral trade between Iraq and Turkey is USD8 billion, making Turkey the biggest market for the country.

    MENAFN1912201800450000ID1097853083

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