KUWAIT CITY, 10 May 2004 — The National Bank of Kuwait (NBK), the emirate’s largest bank, said yesterday that it was considering the purchase of 70 percent of Iraq Credit Bank to commence operations in the war-ravaged country. NBK, Britain’s HSBC and Standard Chartered were in January awarded the first licenses given to foreign banks in Iraq for 40 years. “The license gives NBK all the choices regarding its presence in Iraq, of opening a branch, sharing in an Iraqi bank or buying an Iraqi bank,” NBK said in a statement.