Baghdad hosts the Union of Arab Banks conference
Baghdad hosts the Union of Arab Banks conference
2025-04-28 04:36
Shafaq News/ The head of the Iraqi Private Banks Association, Wadih Al-Handhal, announced on Monday that the Union of Arab Banks will hold its next conference in the capital, Baghdad, under the patronage of Iraqi Prime Minister Mohammed Shia Al-Sudani, and in cooperation with the Central Bank and the Association.
Al-Handhal said in his speech during the Arab Banks Union conference currently being held in Cairo, under the title (Partnership between the Public and Private Sectors), followed by Shafak News Agency, that “the current Iraqi government has taken a major role in achieving partnership between the public and private sectors, starting with the establishment of the Private Sector Council,” noting that the private banking sector has begun to expand well after the partnership with the government represented by the expansion of electronic payment and government institutions contracting with companies and banks to develop the infrastructure for government electronic payment.
He added that electronic payments via bank cards in 2024 reached more than 21.1 trillion dinars, through more than 58.4 million transactions, compared to just over 7,000 transactions in 2017. This represents a significant development.
He stressed that the volume of Arab and foreign investments in Iraq over the past two years reached $63 billion, and this came as a result of a partnership between the government and the private sector.
He explained that the development path represents a major gateway to public-private partnerships, and that everyone can participate in this project, which contributes to the development of Iraq’s gross domestic product.
shafaq.com
