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CBI Approves Sale Of Bank Of Baghdad

CBI Approves Sale Of Bank Of Baghdad


2023-01-17 07:00:04
(MENAFN- Iraq Business News)

By John Lee.

Kuwait's Burgan bank has announced that the sale of its 51.8-percent share in Bank of Baghdad (BBOB) to Jordan Kuwait Bank (JKB) has been approved by the Central Bank of Iraq (CBI) .

The deal's completion is subject to the fulfilment of legal documentation and Iraqi stock exchange requirements.

Burgan Bank is a majority owned subsidiary of KIPCO (Kuwait investment Projects Company) ; Al Rawabi United Holding Co. , a subsidairy of KIPCO, owns about 51 percent of Jordan Kuwait Bank's capital.

(Sources: Burgan Bank, JKB)

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