Middle East Economic Survey

VOL. XLVIII

No 12

21-March-2005

IRAQ

IFC Acquires Minority Stake In Credit Bank Of Iraq

The International Finance Corporation (IFC), the private lending arm of the World Bank (WB), announced on 10 March that it had signed an agreement to acquire a minority stake in Credit Bank of Iraq (CBI). IFCs investment will be undertaken in partnership with National Bank of Kuwait (NBK), which was among the first three international financial institutions to receive a full domestic...