CBI participates in first Iraqi Banking and Finance Conference

4/23/2007

United Arab Emirates, 23rd April 2007 - CBI, Commercial Bank International participated in the first Iraqi Banking and Finance Conference which took place in Amman Jordan. The conference called ‘Banking in Iraq: The 21st Century Challenge’, which was held at the Intercontinental Hotel, was organised by the US Agency for International Development (USAID)-IZDIHAR project, in association with USAID/Iraq Economic Governance II Program.

The conference which took stock of the developments in the Iraqi banking industry post April 2003, was a good opportunity for CBI to gain an excellent understanding of banks in Iraq, especially those in the private sector. The Bank also made use of its presence in Jordan by visiting some their Jordan-based clients in order to strengthen the relationship with them and had the chance to meet with potential clients.

The Iraqi Banking and Finance Conference also addressed issues facing the development of banking and explored the prospects and modalities of building a vibrant banking industry in Iraq. Among those who attended were representatives from the Ministry of Finance, Central Bank of Iraq, other Government of Iraq entities, regional regulators, Iraq private and state owned banks, regional and international banking groups, non-bank financial institutions, bank training organisations, international donors and selected international banking experts. This made it the ideal forum for CBI to approach some Iraqi banks, with a view to establishing new relationships with them.

Commenting on their participation in this important conference, Mr. Mohammad Saadeh, Head of Corporate Banking Group at CBI said: “The Iraqi Banking and Finance Conference was an excellent forum for us to widen our global knowledge base on banking and banking practices in another country. We have had the opportunity to meet with some top banking officials in Iraqi banks and we hope that this will be the start of creating some fruitful business relationships for the future. The conference has been very eye-opening and incredibly informative. What we have learnt will go a long way towards helping CBI achieve greater expansion.”

CBI is a customer-centric bank that has made tremendous progress in the retail banking segment over the last year. The bank also offers securities and trading services and has a comprehensive real estate finance management subsidiary.