Ambassador of the Republic of Iraq to London Discusses Prospects for Supporting the Private Sector and Enhancing Banking Cooperation with Chairman of the National Bank of Iraq

The Ambassador of the Republic of Iraq to the United Kingdom, Dr Salih Husain Ali Al-Tamimi, held a virtual meeting with the Chairman of the Board of Directors of the National Bank of Iraq, Mr Basim Khalil Al-Salinas, during which they discussed prospects for cooperation between the Embassy and the Bank in a manner that supports the Iraqi private sector and contributes to attracting foreign investment to Iraq.

His Excellency the Ambassador welcomed Mr Al-Salim, affirming that the Embassy of Iraq in London continues its efforts to support both the banking and private sectors in ways that promote the diversification of the Iraqi economy and advance development pathways alongside the public sector. His Excellency also highlighted the growing role of private banks in financing the private sector, noting the positive impact this has in easing pressure on the state budget and enhancing the confidence of foreign investors in Iraq’s investment environment.

For his part, the Chairman of the Board of Directors of the National Bank of Iraq reviewed the Bank’s activities within Iraq and its contributions to supporting the private sector, while also outlining the principal challenges currently facing the Bank’s operations. He further expressed the Bank’s desire to attract external financing, particularly from the United Kingdom, and to strengthen cooperation with British banks in a manner that contributes to the development of trade finance and international banking, as well as the expansion of correspondent banking agreements and development partnerships.

Both sides emphasised the importance of maintaining ongoing communication and coordination in support of Iraq’s economic interests, as well as efforts aimed at developing the banking sector and strengthening its engagement with international financial institutions.

The meeting was also attended on behalf of the Embassy by Counsellor Amer Abdul Hussein Al-Fatlawi, Counsellor Atheer Abood Alsaedy, and Second Secretary Mina Al-Saad