< Back to Iraqi Dinar in the News August 22nd, 2011

Standard Chartered in Talks to Buy Shares in Iraq

Standard Chartered Plc (STAN) is in talks to purchase shares in Baghdad-based Warka Bank for Investment and Finance JSC, according to a Warka official.

“Yes, there are negotiations for Standard Charter to acquire shares of Warka Bank,” Hussam Abdul Kareem Khalaf, a branch manager at Warka Bank in Baghdad’s Green Zone, said in a telephone interview today. “We are still not sure about the percentage of shares as negotiations are still ongoing, but this is expected to take place.”

A Standard Chartered spokesman reached by telephone from Dubai declined to comment.