Shafaq News/ The Central Bank of Iraq (CBI) announced, on Tuesday, the signing of a cooperation memorandum with the Frankfurt School of Finance & Management.

According to a statement from the bank, the memorandum “will facilitate training for Central Bank staff in various specializations and assist them in obtaining internationally recognized professional certifications.”

The Central Bank of Iraq becomes the first Iraqi institution to sign a cooperation agreement with the Frankfurt School.

The Iraqi Banks Association clarified that the agreement is part of the FFM project, which is organized by GIZ and funded by the EU and the German government.

The agreement was signed by Ahmed Al Hashimy, the deputy executive director of the Iraqi Private Banks League, and Dr. Fatima Dirkes, Vice President of Frankfurt School of Finance & Management, with the presence of Nizar Rafie, the Director of Development and Training at the Central Bank of Iraq.

Al-Hashimi considered the agreement “a new beginning for cooperation between Iraq's banking sector and Germany,” stating that it will contribute to the exchange of expertise and knowledge.

He added that the agreement includes organizing joint training courses in both Iraq and Germany across various banking fields, which will significantly benefit Iraq's banking sector by enhancing skills and capabilities.

Dirkes also stressed the importance of collaboration in fostering knowledge and experience exchange between the two countries, noting that the agreement represents “a promising step toward a fruitful partnership.”