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HSBC may withdraw from Iraq
- Iraq: Monday, April 22 - 2013 at 07:34
HSBC Holdings has said it is "reviewing" its operations in Iraq, a process that may result in an exit from that market, Zawya Dow Jones has reported. The lender, which holds a 70% stake in Iraq's Dar Es Salaam Investment Bank, said in previous years it wanted to play a bigger role in funding the country's infrastructure projects. "HSBC is reviewing it - that means whether to keep it or not," Georges Elhedery, head of global markets in the Middle East and North Africa, said. Elhedery said there was no timeframe set for the decision.
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