“Sign of economic stability”: Arab Bank back in Iraq after 80 years

Shafaq News/ Iraqi Prime Minister Mohammed Shia al-Sudani met on Sunday with a delegation from Arab Bank led by Chairman Sabih al-Masri, ahead of the inauguration of the bank’s new branch in Baghdad.

According to a statement from al-Sudani’s media office, the meeting focused on enhancing financial and banking cooperation, as well as the Arab Bank’s role in financing investment projects across Iraq.

Al-Sudani described the bank’s return to Iraq as “significant,” noting that it had previously operated in the country for nearly 80 years. “Its return today reflects the current state of political and economic stability in the country,” he said.

He urged the bank to take an active role beyond traditional financial services and contribute to economic growth and development, adding that the government is ready to support and facilitate Arab and foreign banking activity that serves Iraq’s economy.

Arab Bank’s delegation expressed their intention to finance several investment projects and expand operations in Iraq, which they said would help “create job opportunities and stimulate the economic sector.”