International Development Bank opens new branch in Erbil, expanding reach in Iraqi Kurdistan

Shafaq News/ The International Development Bank (IDB) on Tuesday inaugurated its new branch in Erbil, the capital of the Kurdistan Region of Iraq, marking its 27th branch across the country.

"The opening of our new branch in Erbil reflects our commitment to providing innovative and advanced financial services that meet the needs of our customers," said Saad Faik, the bank's managing director, in his speech at the opening ceremony. "This opening is part of our strategy to strengthen our presence in vital areas and support economic development in Iraq."

Faik praised the "pivotal role played by the Central Bank of Iraq in supporting the bank's efforts, enabling it to provide advanced financial solutions and enhance trust between the bank and its customers."

For his part, Wassim al-Amiri, Director of Marketing, Sales and Product Development, said that this opening confirms the International Development Bank's commitment to continuing innovation and development in the financial services sector. 

The International Development Bank has the largest ATM network in Iraq with 400 ATMs and 5000 direct points of sale (POS) in all Iraqi provinces and 7000 POC outlets.

The bank's management says that the bank today has a wide network of correspondent banks around the world in more than 20 countries, which supports trade finance operations and foreign remittances for the bank's customers.