The Parliamentary Finance Committee hosts the Association of Private Banks to discuss the banking sector.
The Parliamentary Finance Committee hosts the Association of Private Banks to discuss the banking sector.
9-22-2026
The Parliamentary Finance Committee hosted the Association of Private Banks on Tuesday to discuss the banking sector, as the official agency reported that “the Parliamentary Finance Committee held a workshop entitled (The Iraqi Banking Sector: Evaluation, Modernization, and Reform).
She added that “the committee hosted the Association of Private Banks during the workshop,” and also mentioned that “the Parliamentary Finance Committee held a workshop entitled (The Iraqi Banking Sector: Evaluation, Modernization, Reform),” noting that “the committee hosted the Association of Private Banks during the workshop.”
The head of the committee, Uday Awad, said in a speech during the workshop, which was attended by a correspondent from the Iraqi News Agency (INA): “Our dialogue today is not limited to being an official meeting, but rather it is a joint working platform that combines legislation and oversight on the one hand, and experience and field application in the banking sector on the other hand, to establish a real partnership aimed at advancing the national economy.”
He added, “This workshop of ours is being held in very delicate and specific circumstances, as we cannot separate our financial reality from the geopolitical situation and the accelerating regional and local developments, whose effects and risks are directly reflected on the stability of our national economy, trade flows, and our monetary and financial policies.”
Awad explained that “at the heart of these challenges, our banking sector, especially private and Islamic commercial banks, is facing complex pressures and challenges, foremost among them the decisions and sanctions imposed by the US Treasury, and the resulting restrictions on international financial movements and the isolation of a number of our national banks from dealing in dollars.”
He also explained that “this crisis requires us to take a serious and responsible stand that does not settle for temporary alternatives, but rather seeks radical solutions to protect our national banks and ensure their compliance and continuity as a fundamental pillar for economic recovery.”
He pointed out that “this workshop focuses on three fundamental pillars that form the roadmap for the future of monetary policy and the development of our banks’ performance:
First: Evaluation: The first step towards a solution begins with a realistic and objective reading of the banking sector indicators to identify strengths and gaps with complete transparency, and to facilitate the integration of all types of our banks into the trade movement in a safe and compliant manner.
Second: Modernization – At the forefront of which is the comprehensive expansion of electronic payment systems, digital transformation, and the application of banking inclusion, which has become an urgent necessity at the present time.
Third: Reform: – By developing a comprehensive plan to reform and develop the banking sector, both public and private, and to establish international governance and compliance standards, thereby restoring confidence in the banking system and paving the way for lifting these restrictions and providing a suitable environment for growth and investment.
Awad stressed “the committee’s full commitment to providing the necessary legislative and regulatory support and removing obstacles for private and Islamic banks to play their pivotal role as a key partner in building the state. We believe that a sound and stable banking sector is the solid wall that protects Iraq’s economic stability in the face of any external or geopolitical shocks.”
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