Tag Archives | Standard Chartered

Warka Bank placed under ‘Guardianship’

Iraq’s central bank has reportedly placed private bank Warka Bank under guardianship to supervise it through insolvency. Warka Bank had been in talks with Standard Chartered Plc to sell a stake last year, but they were not successful. According to the report from Reuters, Mudher Kasim, deputy governor of the central Bank of Iraq, said: […]

Standard Chartered in Talks to Buy Warka Bank

London-based Standard Chartered Bank has been in talks for the past 3-4 months to buy a stake in Warka Bank, one of Iraq’s biggest private banks, a central bank official said on Monday. Hassan al-Haidari, a central bank advisor, told Reuters: “They (Standard Chartered) wanted more than 50 percent but they (Warka) wanted (to give) […]

Citigroup Hires Diplomat to Spearhead Iraq Expansion

Bloomberg reports that Citigroup, the U.S. bank which earns about a $1 billion in revenue from the Middle East, has hired a former U.S. diplomat to oversee its team in Iraq as the holder of the world’s fourth-biggest oil reserves rebuilds its economy. “We are very optimistic about Iraq over the next three to five […]

British Companies Targeting Kurdistan

The largest ever British trade delegation to visit the Kurdistan Region last week participated in Erbil International Fair. The delegation was lead by Sir Andrew Cahn, the Chief Executive of UK Trade and Investment (UKTI), the British government department that spearheads international trade with the UK. The mission comprised 53 representatives from 39 British companies […]