Burgan Bank gets approval for selling stake in Bank of Baghdad – ZAWYA

Burgan Bank gets approval for selling stake in Bank of Baghdad – ZAWYA

Burgan Bank gets approval for selling stake in Bank of Baghdad. Mubasher: The Central Bank of Iraq (CBI) has approved the sale of Burgan Bank 's 51.8% stake in Bank of Baghdad to United Gulf Holding Company (UGH), a sister company of the Kuwait-based bank and another subsidiary of the Kuwait Projects Holding Company ( KIPCO ).. Although the transaction is forecast to have a one-time negative effect by KWD 9 million on the bank's 2019 net income, part of this effect is likely to be offset by KWD 4 million after the transaction is completed, according to a statement to Boursa Kuwait on Tuesday.. The content of the article is syndicated or provided to this website from an external third party provider..