Opening of Dubai Branch

International Development Bank of Iraq has officially opened its first branch in Dubai, following the receipt of a license from the Central Bank of the United Arab Emirates. This marks the first Iraqi private bank to commence operations in the UAE. The branch aims to create new opportunities, enhance the economic landscape, and serve as a significant milestone in financial and banking sector partnerships between Iraq and the UAE, driving growth, encouraging mutual investments, and supporting the Iraqi national economy.

Dr. Ziad Khalaf Abdul, Chairman of International Development Bank, stated that the bank focuses on supporting UAE companies intending to invest and operate in Iraq, providing facilities for investors. He noted that the Dubai branch is geared towards corporate clients rather than individuals.

A grand inauguration ceremony was held to mark the occasion, attended by the Governor of the Central Bank of Iraq, the UAE Minister of Economy, representatives from the Dubai Chamber of Commerce, the Arab Banks Union, ambassadors accredited to the UAE, the Iraqi embassy, and numerous businessmen and investors.