ADIB among banks planning Iraq expansion amid oil boom | The National:
"Abu Dhabi Islamic Bank (ADIB) is the latest lender after JPMorgan, Citi and Standard Chartered to expand business in Iraq as the oil-rich country boosts crude production and rebuilds its infrastructure.
ADIB, the only UAE lender to operate in Iraq, plans to open a branch in Basra before the end of the year after it opened a branch in Erbil in October. The bank obtained a licence from Iraq’s central bank in 2010 and opened its first branch in Baghdad shortly after.
There are still plentiful opportunities that Arabian Gulf lenders can take advantage of, says Jaap Meijer, the head of research at Arqaam Capital, an investment bank in Dubai."
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