The Iraqi Private Banks Association announced the establishment of a strategic partnership between the Iraqi and German banking sectors with the aim of enhancing financial integration between them.
The association explained that it “renewed the joint cooperation agreement between it and the Frankfurt School of Finance & Management, in a strategic step that reflects the commitment of both sides to enhancing professional integration between the banking sectors in Iraq and Germany, and supporting the path of institutional development in accordance with best international practices and standards.”
She also stated that “the agreement was signed by Ahmed Al-Hashemi, Deputy Executive Director of the Association, on behalf of the Iraqi Private Banks Association, and on behalf of the university, Ikon Dosa, Director of the International Consulting Department, in confirmation of the keenness of both parties to expand the scope of cooperation to include more influential areas at the level of banking performance, governance, and financial innovation,” according to what was reported by the Iraqi News Agency “INA.”
The association stated that “the renewal of the agreement comes as a continuation of cooperation in the areas of specialized banking training, consulting and strategy development, institutional capacity building, exchange of technical expertise, support for digital transformation, compliance and risk management, which contributes to raising the readiness of Iraqi banks and enhancing their competitiveness.”
The two parties stressed that “the next stage will witness a more effective role for both parties as an institutional and professional link between the Iraqi banking sector and its German counterpart, through establishing direct communication channels, organizing joint dialogue and cooperation platforms, and facilitating the exchange of knowledge and expertise between financial institutions in the two countries.”
They stressed that “this partnership will support enhancing the Iraqi banking sector’s access to German institutions and markets, and stimulating the interest and investments of German banks and companies in Iraq, by providing a supportive professional environment, enhancing understanding of regulatory frameworks and investment opportunities, and building mutual trust, paving the way for the launch of sustainable financial and economic partnerships.”
