Expo Dubai hosts "Iraqi Banks Week"; CBI governor: Iraqi banks are expanding overseas

Shafaq News/ The Governor of the Central Bank of Iraq (CBI), Mustafa Ghaleb Makhif, inaugurated on Sunday the activities of the Iraqi Banking Week in Iraq's pavilion in Expo Dubai 2021.

The inauguration ceremonials were attended by the head of the Arab Monetary Fund (AMF) Abdul-Rahman al-Abidi, the head of Iraq's Private Banks Association Wadi' al-Handhal, a group of CBI senior officials, and board directors of private banks.

"The activities of the Banks week in Iraq's pavilion significantly contributes to opening the Iraqi banking sector to the Arab and international world," Makhif said in his keynote speech, "CBI's supervision contributed to its development."

Makhif added that Iraqi banks have been expanding outside the country, which boosted their credit rating by specialized agencies.

"Iraq has become an attractive arena for investments, which requires an efficient banking sector to keep up with that," he continued.

The head of AMF appraised the successful policy of CBI and Makhif's efforts to ensure the openness of Iraq's banking sector to the world.

The Iraqi Private Banks Association chair, Wadi' al-Handhal shed light upon the centrality of the banking sector for economic progress and the role of this event in revitalizing the ties with the banking sector in the world.