AD Ports, Iraq’s IDB join hands for port, logistics development

AD Ports, Iraq’s IDB join hands for port, logistics development

Abu Dhabi / WAM  

AD Ports Group, the leading facilitator of global trade, logistics, and industry, and International Development Bank (IDB) signed an MoU to review opportunities for ports and logistics projects that could enhance trade flows between the UAE and Iraq.

The agreement was signed by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports group, and Dr Ziad Khalaf, Chairman, International Development Bank.

Being the only Iraqi financial institute licensed from the central bank of UAE to provide wholesale corporate banking service, IDB aims to provide its services to corporate clients and support a range of landmark infrastructure projects in both countries.

As part of its strategy for growth and globalisation, AD Ports group has signed a number of milestone pacts to explore opportunities for management and development of ports and logistics assets across Iraq, including a 2021 agreement with General Company for Ports of Iraq to promote increased cooperation.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said, “AD Ports group continues to expand its international operations, at the direction of our wise leadership, which has seen us provide support and expertise for the development of ports and