UGB sells its share in Baghdad Bank

BAGHDAD / IraqiNews.com: The United Gulf Bank (UGB) on Tuesday sold its shares in Baghdad Bank which exceeded 31 billion shares to Burgan Bank (Kuwait), at a total cost of $68 million, after obtaining permission from the Central Bank of Iraq (CBI). This came in a release issued by the Iraqi Stock Market and received by IraqiNews.com news agency. Baghdad Bank was established in 1992. MH (P)/SR 1