Standard Chartered opens branch in Iraq
STANDARD CHARTERED yesterday became the first British bank to open a branch in Iraq.
The country’s prime minister Nouri Al-Maliki officially opened the new Baghdad outlet ahead of the opening of a branch in Erbil this year and one in Basra in 2014.
It will service the bank’s international clients in Iraq working in the oil, telecoms and construction industries.
The FTSE 100 company, with more than 1,700 branches in 70 countries, is the first international bank to have a fully fledged branch in Iraq.