HSBC is said to be
close to finalising arrangements to buying a 70 per cent stake in Iraqi bank Dar Es Salaam Investment Bank. If it comes off it will be a welcome return to a country which last saw the benefits of 'our' style of banking in July 1964. I knew that after HSBC was granted permission to trade in Iraq again last year that it would only be a matter of time, even if the inevitable security considerations meant this could not happen immediately. Good luck!
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