Delegation of the Iraqi Ahli Bank & Capital Bank Group Meet with IBC Members
A delegation of the Iraqi Ahli Bank and Capital Bank Group; including the Managing Director, Mr. Ayman Abu Deheem, Executive Vice President, Mr. Nadeem Abwat, Head of Private Banking Services & Wealth Management, Mrs. Reema Shaban, Head of Private Investments, Mr. Raad Hijazin and Portfolio Manager of the Asset Management Department, Mr. Raed Al-Moumeny met on Sunday February 26th 2023 at IBC head offices with IBC Deputy Chairman and Secretary General, Dr. Saad Naji and IBC members; Mr. Ahmed Al-Amili, Dr. Faris Al-Safi, Mr. Abdul Rahman Abu Tair, Mrs. Niran Al-Hakim, Mr. Dargham Al-Boulani, representatives of IBC member companies and IBC Director General.
Dr. Saad Naji welcomed the guests and gave a brief overview of the Iraqi Business Council and its role in strengthening economic cooperation. Further, IBC members presented an overview on their companies and sectors. For his part, the Executive Vice President, Mr. Nadeem Abwat, expressed keenness of the Capital Bank Group and the Iraqi Ahli Bank to provide banking services and facilities to IBC members, reviewing the Group’s achievements such as increasing the customer base, capital and number of branches, totalling to 24 branches, with the 11 branches under construction. The Iraqi Ahli Bank, where Capital Bank Group owns a share of 62%, obtained a licence to open a branch in the Kingdom of Saudi Arabia. During the meeting, Mr. Saad Naji and IBC members discussed a number of obstacles facing the financial sector in Iraq including; procedures of financial remittances for sold residential and commercial properties issued from Iraq to Jordan, delayed receipt of financial remittances by beneficiaries issued by the platform of the Iraqi Central Bank according to the resolutions of the Iraqi Prime Ministry recently applied. The Managing Director, Mr. Ayman Abu Duhaim, expressed readiness of the Iraqi Ahli Bank to facilitate procedures of remittances issued to beneficiaries outside Iraq, opening of letters of credit and letters of guarantee. Mr. Abu Duhaim also expressed readiness of Capital Bank Group to open accounts for Iraqi companies and branches of foreign companies in Jordan Capital Bank. During the meeting, the members proposed facilitating credits (Back to Back L/C), facilitating Letters of Credit to obtain financial facilities in order to speed the process of remittances. Representatives of Capital Investments Company, the investment arm of the Capital Bank Group, talked about the Company’s services in managing the assets, financial brokerage and advisory for companies, in addition to the Company’s readiness to provide innovative financial solutions for all investment activities. At the end of the meeting, the two sides exchanged thanks for organizing the meeting.
