Posted on 14 December 2013 .
By John Lee.
Erbil-based Cihan Bank, a privately-owned Islamic bank, is about to launch a $100 million investment fund focused on opportunities in Iraq, and is planning to expand its operations in the UAE.
Vice-Chairman Nawzad Yahya Bajger told Gulf News:
“Currently, we have an office in Dubai. We are seeking to establish a representative office in the UAE in 2014.”
Fayeq M. Al Obaidi, banking development consultant at the bank, added:
“After prolonged period of war and unrest, Iraq is now open for business with huge opportunities in infrastructure, healthcare, oil & gas, power and education sectors to name a few. We have the local knowledge and expertise and are looking for banks and investors to join us in investing in new opportunities.”
The bank has paid-up capital of 250 billion Iraqi dinar and is owned by 100 private investors.
Dr. Mark A. DeWeaver
|Bank Earnings Take a Hit||Ahmed Mousa Jiyad||Iraq Energy Sector: Reality & Expectations|
|Ruth Lux||Baghdad’s Revenue-Sharing Deal: Avoiding a...||John Cookson||Tuesday is Next Deadline, but...|
|Madeleine White||Mobile Miracles – Educational Vision||Robert Tollast||Erbil, Iraq and the ISIL Offensive|
|John Schnittker||Water and Wheat: ISIS Weapons?||Tariq Abdell||Iraq: Reconciliation or Partition?|