Iraqi bank opens women-only branch

 
Babylon Bank opens branch entirely dedicated to, operated by women in Iraq's holy Najaf.

 
NAJAF, Iraq - An Iraqi bank has opened a branch entirely dedicated to and operated by women in the holy Shiite Muslim city of Najaf, its chief, who admitted even he could not enter, said Monday.

Abdel Razzaq Mansur, the chief executive of Babylon Bank, said the branch which opened on Sunday had so far worked with 50 clients and expected to be dealing with about 200 within a year.

"In Najaf, there are many women who are business women, and they have companies in many different lines of work," he said, noting the branch's 25-strong staff were composed entirely of women.

The only men working for the branch were special security guards stationed outside the bank on the street, Mansur said.

It will provide loans, investments, deposits and savings in both Iraqi dinars and US dollars.

Asked whether any men would be allowed to enter the branch, he replied, while laughing: "I am the boss, but I can only ask them to come here (to Baghdad) -- I can't go there."

Mansur added that while he hoped to expand the concept to Baghdad, Babylon Bank would not extend it beyond Najaf for now.

Najaf is located 150 kilometres (90 miles) south of Baghdad.

---

Print

Printer Friendly Version