Bank of Jordan inaugurates its first branch in Iraq

Our decision to establish branch in Iraq exemplifies Bank’s strategy towards expanding its business activities in region — Fakhouri

The Bank of Jordan announced the launching of its operations in Iraq, with the inauguration of its first branch in Baghdad; having obtained all the required licenses from both the Central Bank of Jordan and the Central Bank of Iraq, together with fulfilling the requisites and completing the procedures pertaining to initiating business operations in the Iraqi market.

Shaker Fakhouri, Chairman of the Board at Bank of Jordan said: “Our decision to establish a branch in Iraq serves to boost our regional presence and exemplifies the strategy adopted by the Bank; namely expanding its business operations in the region, where markets are witnessing substantial growth and promising opportunities". 

"This is expected to reflect positively on the services offered to both our current and prospective clients. Furthermore, we strive to develop our banking scheme in a manner that reflects the Royal visions of boosting investments and achieving economic coordination and collaboration between the two states; thus consolidating our robust economic and historical relations with Iraq,” Fakhouri added.

He also pointed out that the Bank is currently finalising the preparations for establishing its first branch in Riyadh, Saudi Arabia, having recently acquired the license permitting it to partake in banking activities within the Kingdom. 

He announced that Jawdat Mahmoud Jawdat had been appointed as a Chief Executive Officer of Bank of Jordan –Iraq.