Finance: Iraq possesses enormous potential to create a promising financial market
Finance: Iraq possesses enormous potential to create a promising financial market
2025-12-10 03:43
Shafaq News – Baghdad
Ahmed Jawad Al-Dahlaki, Director of the Financial and Accounting Training Center at the Ministry of Finance, stated on Wednesday that Iraq possesses enormous potential to create a promising financial market.
This came in a speech he delivered at the opening of the fifth annual international scientific conference, organized by the center, under the slogan “The Future of Financial Markets in Iraq in the Era of Contemporary Transformations,” which will continue for two days (December 10-11), with the participation of a select group of economic experts, academics, researchers and specialists in financial and economic affairs.
Al-Dahlaki said in his speech that “Iraq possesses enormous potential to create a promising financial market, but we are in dire need of activating the role of financial innovation and its modern tools.”
For his part, the Governor of the Central Bank of Iraq, Ali Al-Alaq, pointed out that financial markets have gone beyond their traditional role as trading platforms, to become the vital nerve that supplies the arteries of the economy with the liquidity necessary to drive the wheels of investment and development.
He stressed that keeping pace with global transformations requires taking bold steps towards digital transformation and modernizing the legislative structure, to ensure the creation of a safe and attractive investment environment for national and foreign capital.
In the same context, the Chairman of the Securities Commission, Dr. Faisal Al-Haimas, stated that “developing the securities sector represents a fundamental pillar in the economic reform strategy,” indicating that the Commission is working diligently to enhance transparency and disclosure standards for joint-stock companies, in order to guarantee the rights of shareholders and strengthen the confidence of local and international investors.
Al-Haims added that “the next stage requires integration between fiscal and monetary policies and capital market tools to create real investment opportunities that contribute to diversifying sources of national income.”
The first day witnessed intensive discussions by local and international experts, which focused on five strategic axes that included mechanisms for mobilizing savings towards investment, ways to achieve integration between the banking system and financial and monetary policies, as well as a review of financial innovation tools.
The sessions also addressed the impact of digital transformations and geopolitical conditions on markets, and concluded with a discussion on developing the legislative and regulatory framework.
It is hoped that the conference will conclude its work tomorrow, Thursday, with the announcement of the final statement, which will include a set of scientific and practical recommendations to be submitted to higher authorities, to be part of the financial and economic reform plans in the country.
shafaq.com
