Iraq’s largest private bank seeks to boost UAE business

IDB provides key banking solutions in UAE and Iraq

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IDB chairman Dr. Ziad Khalaf Abd.

Published: Mon 26 Aug 2024, 3:28 PM

Last updated: Mon 26 Aug 2024, 6:43 PM

The International Development Bank (IDB) has become a pioneer in providing financial solutions for businesses in the UAE and Iraq.

Recently, during a media briefing, IDB chairman Dr. Ziad Khalaf Abd discussed an array of services the bank offers to support companies and achieve sustainable financial growth.

“Since our establishment in 2011, we have been committed to providing innovative financial solutions that meet the diverse needs of our clients, whether they are individuals, SMEs, or large corporations. We are proud to be Iraq’s largest private bank and always strive to enhance the financial infrastructure in the Arab region,” he added.

The chairman emphasized that International Development Bank adopts a client-centric approach, focusing on understanding business needs and objectives to provide customized banking solutions. “We prioritize understanding our clients’ needs to offer solutions that drive long-term success. We offer flexible financing solutions, including term loans, revolving credit facilities, and project finance to support capital investments, working capital needs, and expansion plans. Our goal is to help businesses achieve their investment aspirations,” Dr Ziad Khalaf Abd said.

He noted that their advanced cash management services simplify financial operations with features like electronic payments, receivables management, and liquidity optimization strategies. These services aim to enhance businesses’ efficiency in managing their funds.

IDB has facilitated international trade transactions with expertise in letters of credit, trade finance facilities, and risk mitigation solutions to expand our clients’ global business reach. The bank works to enable companies to safely and effectively expand into international markets. “We provide tailored foreign exchange solutions to manage currency risk effectively, including spot transactions, forwards, options, and currency hedging strategies. Additionally, IDB in Dubai offers the advantage of facilitating currency exchange between Iraqi dinars and UAE dirhams,” adds he added.

IDB offers comprehensive treasury solutions that include interest rate management, investment products, and treasury advisory services to maximize returns and minimize risks. We strive to provide the best treasury management solutions for our clients. “Our advisory services include mergers and acquisitions, capital raising through debt or equity, and strategic financial planning to support corporate finance objectives.”

‎The International Development Bank, under the vision of Dr. Ziad Khalaf, has achieved success in the banking sector, through technological innovation and commitment to financial inclusion. Ziad Khalaf said, "We aim to enhance the financial infrastructure in the Arab region, and enhance cooperation to build a prosperous future. We are committed to transparency and customer satisfaction, and adherence to the highest standards of professional conduct and regulatory compliance." It is noteworthy that the Ziad Khalaf Holding Group, which is headquartered in Abu Dhabi, includes 22 Iraqi companies under it, serving many sectors in different fields and has a large market share in the Iraqi market.