By John Lee. Fitch Ratings has assigned Cihan Bank for Islamic Investment and Finance P.S.C (Cihan) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating, "reflects the weak operating environment, the bank's weak franchise, volatile business model, high risk appetite, including a high share of financial […]
By John Lee. The Kurdistan Regional Government (KRG) has announced that BBAC Bank has joined the 'My Account' financial inclusion initiative, increasing the total number of participating banks to four: Ashur, BBAC, Cihan, and Region Trade Bank (RTB). It said this is part of ongoing efforts to expand the initiative and provide citizens with more […]
By John Lee. KRG Prime Minister Masrour Barzani has said that, while the KRG's financial reforms project is still in its preliminary stages, its ultimate goal is to digitise the public sector's payroll, benefiting 1.2 million civil servants. Additionally, the project aims to involve the private sector to ensure accessibility and convenience for everyone in […]
Cihan Bank, a leading private sector Islamic bank from Iraq, is planning to set up a representative office in the UAE and has plans to enter into tie-up with leading UAE banks, according to reports from Gulf News. “Currently, we have an office in Dubai," Gulf News quoted Nawzad Yahya Bajger, vice chairman of Cihan. […]
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 […]
Path Solutions has announced the successful go live of iMAL at Cihan Bank, Erbil. Cihan, the first privately owned bank in Kurdistan first partnered with Path Solutions in October 2009 on this multi-lingual, multi-currency and multi-channel implementation. Specifically in this deployment, Path Solutions implemented the following scope in line with the bank’s expectations: Retail Financing, […]
