Middle East Economic Survey

VOL. XLVII

No 39

27-September-2004

REGIONAL BANKING

NBK, IFC Close To Finalizing Purchase Of Stake In Credit Bank Of Iraq

National Bank of Kuwait (NBK) and the International Finance Corporation, the private lending arm of the World Bank, are close to finalizing their purchases of a stake in the Credit Bank of Iraq, MEES understands. The deal, which has been approved by the Central Bank of Iraq but not yet publicly announced, will give NBK a 75% share in the bank, while...