Wednesday, July 25, 2007
Byblous Bank Is First Lebanese Bank In Irbil
Trade
(Asharq Al Awsat Newspaper) - 25 JUL - The Lebanese Byblous Bank has opened in the Kurdish capital, Irbil. It is the first Lebanese bank to invest in the Iraqi market. Previously, the Commercial Lebanese Bank announced that it would enter the Iraqi market, but the Qatar government which owns 97% of this bank decided to postpone this investment.
Now Byblous Bank is the only foreign bank working in Irbil. The bank will provide customers with commercial banking services, opening accounts, guaranteeing loans and document storage. The bank has a new strategy which is to expand into the growing markets. Since 2003, Arab and international banks such as “HSBCA,” National Kuwait Bank, Jordanian Capitol Bank and the Qatar National Bank have succeeded in buying part of Iraqi banks.
Labels: Byblous Bank, Irbil, Lebanon, Qatar government
