The UAE’s largest bank, the First Abu Dhabi Bank PJSC (FAB), has expanded its regional footprint with the opening of a representative office in Iraq.
The move is part of First Abu Dhabi Bank’s targeted international growth strategy to facilitate regional trade flows and strengthen its global client service model.
The UAE is one of Iraq’s most important trading partners, with the value of exports totalling more than $13.11 billion in 2020.
As a leading regional bank, First Abu Dhabi Bank’s international footprint currently covers approximately 70 percent of Iraq’s crude export trade destinations.
First Abu Dhabi Bank’s representative office in Iraq
The First Abu Dhabi Bank’s new representative office, will primarily service sovereign- and government-related entities (GREs), financial institutions, and Iraqi institutional clients, in addition to clients with business interests in Iraq.
It will further strengthen the bank’s extensive client service model and support trade across key MENA and international markets.
The group chief executive officer of FAB, Hana Al Rostamani (above), said: “The opening of FAB in Iraq supports our international expansion strategy and underlines our commitment to facilitate trade between the UAE and growth economies.
“By leveraging our strong UAE and regional core, and focusing on top-tier, identified clients, our presence will position FAB to drive opportunities in support of Iraq’s economic development, including ongoing investment required to rebuild and enhance the country’s infrastructure.”
The First Abu Dhabi Bank’s international network spans five continents, providing the global relationships, expertise, and financial strength to support local, regional, and international businesses seeking to do business at home and abroad.
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